Vertex Pharmaceuticals (VRTX) FY2023 results: revenue $9.9 billion, up 10.5% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $9.9 billion for fiscal 2023, the year ended 31 December 2023, up 10.5% on the year before. Net income was $3.6 billion, up 9.0%, and diluted earnings per share $13.89. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$9.9 billion
+10.5% on the year
FY2016FY2023
Operating margin
38.8%
48.2% a year earlier
FY2016FY2023
Net income
$3.6 billion
+9.0% on the year
FY2016FY2023
Diluted EPS
$13.89
+8.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,537
4,130
2,644
-14.3%
Capital expenditure
200
205
235
-2.1%
Free cash flow
3,337
3,925
2,408
-15.0%
Free cash flow margin
33.8%
44.0%
31.8%
Cash from investing
-3,142
-321
-341
Cash from financing
-562
-67.7
-1,478
Depreciation and amortisation
181
148
126
+22.3%
Share-based compensation
581
491
441
+18.3%
Buybacks
428
0.0
1,425
Diluted shares, weighted
260m
259m
260m
+0.5%
Shares outstanding at period end
258m
257m
254m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
17,580
13,913
10,100
+26.4%
Debt
0.0
0.0
0.0
Operating lease liabilities
349
380
377
-8.1%
Finance lease liabilities
376
431
510
-12.7%
Other liabilities
4,425
3,428
2,445
+29.1%
Total liabilities and equity
22,730
18,151
13,432
+25.2%
Goodwill
1,088
1,088
1,002
0.0%
Intangible assets
840
604
400
+39.1%
Investments
3,347
387
730
+765.5%
Cash and equivalents
10,369
10,504
6,795
-1.3%
Receivables
1,563
1,442
1,137
+8.4%
Inventory
739
461
353
+60.4%
Other assets
4,784
3,666
3,016
+30.5%
Total assets
22,730
18,151
13,432
+25.2%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.