United Therapeutics Corp

Chart & Performance

D1W1MN

P/E

11.34

P/S

4.71

EPS

26.50

Div Yield, %

—

Shrs. gr., 5y

2.06%

Rev. gr., 5y

14.71%

Revenues

2.88b

+23.63%

Net income

1.20b

+21.35%

CFO

1.33b

+35.70%

Earnings

Jul 29, 2025

Profile

United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. Its commercial therapies include Remodulin to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Tyvaso, an inhaled formulation of prostacyclin analogue treprostinil to enhance the exercise ability in PAH patients and pulmonary hypertension associated with interstitial lung disease (PH-ILD); Orenitram, a tablet dosage form of treprostinil to enhance the exercise capacity in PAH patients; Unituxin, a monoclonal antibody for treating high-risk neuroblastoma; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients. The company also engages in developing Tyvaso DPI, a dry powder inhalation form of Tyvaso; Remunity Pump, a small, lightweight, durable pump and separate controller; RemoPro and Ralinepag for the treatment of PAH; Aurora-GT, a gene therapy product to rebuild the blood vessels in the lungs; and Tyvaso PERFECT and TETON studies, which are the studies of Tyvaso in patients with World Health Organization (WHO) Group 3 pulmonary hypertension associated with chronic obstructive pulmonary disease (PH-COPD). It has licensing and collaboration agreements with DEKA Research & Development Corp. to develop a semi-disposable system for the subcutaneous delivery of treprostinil; MannKind Corporation to develop and license treprostinil inhalation powder and the Dreamboat device; and Arena Pharmaceuticals, Inc. to develop Ralinepag. The company was incorporated in 1996 and is headquartered in Silver Spring, Maryland.

URL

https://www.unither.com/

IPO date

Jun 17, 1999

Employees

985

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2024‑12	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	2,877,400 23.63%	2,327,500 20.20%	1,936,300 14.88%
Cost of revenue	1,429,300	1,142,600	956,600
Unusual Expense (Income)
NOPBT	1,448,100	1,184,900	979,700
NOPBT Margin	50.33%	50.91%	50.60%
Operating Taxes	343,900	289,500	223,300
Tax Rate	23.75%	24.43%	22.79%
NOPAT	1,104,200	895,400	756,400
Net income	1,195,100 21.35%	984,800 35.40%	727,300 52.86%
Dividends
Dividend yield
Proceeds from repurchase of equity	(1,012,200)	(13,800)	82,900
BB yield	5.91%	0.13%	-0.61%
Debt
Debt current		400,000
Long-term debt		332,800	800,000
Deferred revenue			(41,000)
Other long-term liabilities	181,900	77,800	104,600
Net debt	(4,742,300)	(4,171,100)	(4,671,100)
Cash flow
Cash from operating activities	1,327,100	978,000	802,500
CAPEX	(246,500)	(230,400)	(138,800)
Cash from investing activities	417,200	(719,600)	(811,500)
Cash from financing activities	(1,254,800)	(11,900)	75,400
FCF	1,079,700	757,400	564,900
Balance
Cash	3,267,000	2,994,100	4,154,900
Long term investments	1,475,300	1,909,800	1,316,200
Excess cash	4,598,430	4,787,525	5,374,285
Stockholders' equity	7,219,600	6,015,000	4,987,500
Invested Capital	2,027,470	1,975,075	672,800
ROIC	55.17%	67.63%	124.63%
ROCE	21.86%	17.52%	17.18%
EV
Common stock shares outstanding	48,500	49,700	48,500
Price	352.84 60.46%	219.89 -20.93%	278.09 28.70%
Market cap	17,112,740 56.59%	10,928,533 -18.97%	13,487,365 31.96%
EV	12,370,440	6,757,433	8,816,265
EBITDA	1,520,600	1,238,100	1,031,000
EV/EBITDA	8.14	5.46	8.55
Interest	42,900	59,300	32,400
Interest/NOPBT	2.96%	5.00%	3.31%