Filing Flows › Vertex Pharmaceuticals (VRTX) › Q3 2026 › vs Q3 2025
Vertex Pharmaceuticals (VRTX) Q3 2026 vs Q3 2025 (year over year)
Vertex Pharmaceuticals's revenue rose $364M (+12%) from $3.1B in Q3 2025 to $3.4B in Q3 2026. The biggest changes: Total CF product revenues, net +$233M (+8%); CASGEVY +$82.3M (+487%); JOURNAVX +$38.7M (+197%). Operating margin 20.7% against 38.6% (-17.8 pts).
Vertex Pharmaceuticals, Q3 2026: revenue $3.4B (+12% year over year), operating margin 20.7%, net earnings $654M, operating cash flow $643M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 20.7% | 38.6% | -17.8 pts |
| Net margin | 19.0% | 35.2% | -16.2 pts |
| Free cash flow margin | 15.9% | 37.0% | -21.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| TRIKAFTA/KAFTRIO | $2.4B | $2.7B | −$217M | -8% |
| ALYFTREK | $706M | $247M | $459M | +186% |
| Other CF product revenues | $130M | $139M | −$8.8M | -6% |
| Total CF product revenues, net | $3.3B | $3.0B | $233M | +8% |
| CASGEVY | $99.2M | $16.9M | $82.3M | +487% |
| JOURNAVX | $58.3M | $19.6M | $38.7M | +197% |
| Revenue | $3.4B | $3.1B | $364M | +12% |
| Other income, net | $70.5M | $113M | −$42.1M | -37% |
| Operating profit | $713M | $1.2B | −$473M | -40% |
| Costs & expenses | $2.7B | $1.9B | $838M | +44% |
| Pre-tax earnings | $783M | $1.3B | −$515M | -40% |
| Cost of revenue | $526M | $415M | $111M | +27% |
| Research & development | $1.3B | $978M | $343M | +35% |
| SG&A | $844M | $445M | $399M | +90% |
| Other operating costs | $37.1M | $52.6M | −$15.5M | -29% |
| Net earnings | $654M | $1.1B | −$429M | -40% |
| Income tax | $130M | $216M | −$86.1M | -40% |
| Depreciation & amortization | $69.2M | $54.0M | $15.2M | +28% |
| Share-based compensation | $174M | $195M | −$20.5M | -11% |
| Working capital & other | $254M | $90.4M | $164M | +181% |
| Operating cash flow | $643M | $1.2B | −$598M | -48% |
| Free cash flow (OCF − capex) | $546M | $1.1B | −$594M | -52% |
| Capital expenditures | $97.3M | $102M | −$4.5M | -4% |
Questions
How much did Vertex Pharmaceuticals's revenue grow year over year in Q3 2026?
Vertex Pharmaceuticals's revenue rose $364M (+12%) from $3.1B in Q3 2025 to $3.4B in Q3 2026.
What drove Vertex Pharmaceuticals's revenue change in Q3 2026?
Total CF product revenues, net +$233M (+8%); CASGEVY +$82.3M (+487%); JOURNAVX +$38.7M (+197%).