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United Therapeutics vs Royalty Pharma: UTHR and RPRX compared
United Therapeutics is the larger company: $832M of revenue in its latest quarter (Q3 2026) against $690M for Royalty Pharma (Q3 2026). Royalty Pharma is growing faster (+13% against +4% a year earlier). Royalty Pharma is more profitable, with an operating margin of 59.5% against 37.0%.
Where the money goes: UTHR and RPRX
United Therapeutics (UTHR) · Q3 2026
United Therapeutics, Q3 2026: revenue $832M (+4% year over year), operating margin 37.0%, net earnings $259M, operating cash flow $306M. The chart follows the revenue to costs, profit and cash.
Royalty Pharma (RPRX) · Q3 2026
Royalty Pharma, Q3 2026: revenue $690M (+13% year over year), operating margin 59.5%, net earnings $145M, operating cash flow $686M. The chart follows the revenue to costs, profit and cash.
| United Therapeutics (UTHR) | Royalty Pharma (RPRX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $832M | $690M |
| Revenue growth, Y/Y | +4% | +13% |
| Gross margin | 88.1% | — |
| Operating margin | 37.0% | 59.5% |
| Net earnings | $259M | $145M |
| Net margin | 31.1% | 21.0% |
| Operating cash flow | $306M | $686M |
| Free cash flow | $126M | — |
| Market value | $25.5B | $37.5B |
| P/E | 21.2× | 44.3× |
| Analysts’ mean target | $670.93 | $71.25 |
Where the revenue comes from
United Therapeutics
- Total Tyvaso: $504M (61%)
- Orenitram: $145M (17%)
- Remodulin: $122M (15%)
- Unituxin: $52.3M (6%)
Royalty Pharma
- Income from financial royalty assets: $648M (94%)
- Other royalty income and revenues: $42.5M (6%)
Questions
Which is bigger, United Therapeutics or Royalty Pharma?
United Therapeutics is the larger company: $832M of revenue in its latest quarter (Q3 2026) against $690M for Royalty Pharma (Q3 2026).
Is United Therapeutics or Royalty Pharma growing faster?
Royalty Pharma is growing faster (+13% against +4% a year earlier).
Which is more profitable, United Therapeutics or Royalty Pharma?
Royalty Pharma is more profitable, with an operating margin of 59.5% against 37.0%.
More: United Therapeutics earnings · how United Therapeutics makes money · Royalty Pharma earnings · how Royalty Pharma makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.