Vertex Pharmaceuticals (VRTX) FY2022 results: revenue $8.9 billion, up 17.9% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $8.9 billion for fiscal 2022, the year ended 31 December 2022, up 17.9% on the year before. Net income was $3.3 billion, up 41.8%, and diluted earnings per share $12.82. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2023.
Revenue
$8.9 billion
+17.9% on the year
FY2015FY2022
Operating margin
48.2%
36.7% a year earlier
FY2015FY2022
Net income
$3.3 billion
+41.8% on the year
FY2015FY2022
Diluted EPS
$12.82
+42.3% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
4,130
2,644
3,254
+56.2%
Capital expenditure
205
235
260
-12.9%
Free cash flow
3,925
2,408
2,994
+63.0%
Free cash flow margin
44.0%
31.8%
48.2%
Cash from investing
-321
-341
99.4
Cash from financing
-67.7
-1,478
-505
Depreciation and amortisation
148
126
110
+18.1%
Share-based compensation
491
441
429
+11.3%
Buybacks
0.0
1,425
539
Diluted shares, weighted
259m
260m
263m
-0.3%
Shares outstanding at period end
257m
254m
260m
+1.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
13,913
10,100
8,687
+37.7%
Debt
0.0
0.0
0.0
Operating lease liabilities
380
377
350
+0.6%
Finance lease liabilities
431
510
539
-15.5%
Other liabilities
3,428
2,445
2,175
+40.2%
Total liabilities and equity
18,151
13,432
11,752
+35.1%
Goodwill
1,088
1,002
1,002
+8.6%
Intangible assets
604
400
400
+50.9%
Investments
387
730
671
-47.0%
Cash and equivalents
10,504
6,795
5,988
+54.6%
Receivables
1,442
1,137
885
+26.9%
Inventory
461
353
281
+30.4%
Other assets
3,666
3,016
2,525
+21.6%
Total assets
18,151
13,432
11,752
+35.1%
10-K for the year ended 31 December 2022, filed 10 February 2023: the filing.