Filing Flows › Vertex Pharmaceuticals (VRTX) › Q4 2025
Vertex Pharmaceuticals (VRTX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Vertex Pharmaceuticals (VRTX) reported revenue of $3.2B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was 37.8%, net earnings $1.2B (37.3% of revenue).
Vertex Pharmaceuticals, Q4 2025: revenue $3.2B (+10% year over year), operating margin 37.8%, net earnings $1.2B, operating cash flow $498M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | +4% | +10% |
| Operating profit | $1.2B | +2% | +18% |
| Net earnings | $1.2B | +10% | +30% |
| Operating cash flow | $498M | -60% | -15% |
| Free cash flow | $349M | -69% | -29% |
What changed
Revenue was $3.2B in Q4 2025, up 10% year over year and up 4% from the previous quarter. TRIKAFTA/KAFTRIO was the largest line at 81% of revenue.
Operating profit was $1.2B, a 37.8% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, above the 35% margin then. Total costs grew 5% against revenue growth of 10%. The fastest-growing cost line was SG&A (+29%). Net earnings were $1.2B, up 30% year over year. The effective tax rate was 10.5%.
Operating cash flow was $0.50B (down 15% year over year), 42% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items used $0.91B. Capital expenditures of $0.15B left free cash flow of $0.35B.
Questions
What was Vertex Pharmaceuticals' revenue in the fourth quarter 2025?
Vertex Pharmaceuticals (VRTX) reported revenue of $3.2B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +4% from the quarter before.
Was Vertex Pharmaceuticals profitable in the fourth quarter 2025?
Operating profit was $1.2B (37.8% of revenue) and net earnings $1.2B.