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Leader in cystic fibrosis drugs (Trikafta) expanding into non-opioid pain (Journavx) and gene therapy (Casgevy).
Leader in cystic fibrosis drugs (Trikafta) expanding into non-opioid pain (Journavx) and gene therapy (Casgevy).
Sells a small number of patented cystic fibrosis medicines that patients take for life, distributed through specialty pharmacies, with most revenue from Trikafta and its relatives. Casgevy, a gene therapy, is developed with CRISPR Therapeutics, and Journavx, a non-opioid pain pill, launched in 2025.
Moat: wide (IP / patents, installed base, process know-how). Near-monopoly on CF disease-modifying therapy with deep patient registries and specialist relationships.
Headquarters: Boston, Massachusetts, United States · Founded: 1989 · Employees: 6,400
Size Vertex Pharmaceuticals (VRTX) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $139B, the 87th largest of 3,117 United States companies the cockpit tracks. Shares closed at $547.09 on 6 Nov 2026.
Performance Over six months the shares gained 27.3%, against +16.1% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 11.0% over the last twelve months (peer median +5.4%); the operating margin is 34.9% (peer median 25.3%).
Valuation It trades at 29.0× forward earnings against a peer median of 18.2× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.7 points above its cost of capital (6.3% WACC).
Short interest Short interest is 1.7% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.0B | $12.1B | $11.0B | $9.84B | $8.75B |
| Revenue growth | — | +10% | +12% | +12% | — |
| Gross profit | $11.1B | $10.3B | $9.45B | $8.58B | $7.67B |
| EBITDA | $4.79B | $4.97B | $4.57B | $4.46B | $4.33B |
| Net income | $3.98B | $3.95B | -$536M | $3.62B | $3.32B |
| Free cash flow | $3.20B | $3.19B | -$790M | $3.34B | $3.93B |
| Capital expenditure | $492M | $438M | $485M | $258M | $205M |
| Total debt | $6.48B | $2.04B | $1.75B | $808M | $900M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Vertex Pharmaceuticals VRTX | $139B | +27% | +11% | 35% | 29.0× | 6.1% |
| Sanofi SAN.PA | $113B | +14% | +15% | 27% | 9.6× | -5.4% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VRTX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.7% | +11.0% | 8th lowest of 21 |
| 6-month return | +27.3% | +16.1% | 4th highest of 21 |
| Distance from 52-week high | -3.8% | -8.3% | 7th highest of 21 |
| Revenue growth (TTM) | +11.0% | +5.4% | 8th highest of 21 |
| Operating margin | 34.9% | 25.3% | 4th highest of 21 |
| Forward P/E | 29.0× | 18.2× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 6.1% | 3.3% | 9th most demanding of 21 |
| Growth delivered (Del g) | +14.2% | +6.7% | 5th highest of 21 |
| Hurdle (Req g minus delivered) | -8.1 pp | -2.6 pp | 8th least demanding of 21 |
| ROIC minus cost of capital | +10.7 pp | +8.2 pp | 10th highest of 21 |
| EV / EBITDA | 29.0× | 13.9× | 3rd most expensive of 18 |
| Net debt / EBITDA | 0.0× | 1.3× | 5th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vertex Pharmaceuticals VRTX | United States | $139B | +27% | +11% | 35% | 29.0× | 6.1% | +14.2% |
| Bristol Myers Squibb BMY | United States | $127B | +12% | +4% | 33% | 9.7× | -12.9% | +2.5% |
| Pfizer PFE | United States | $168B | +14% | +1% | 26% | 10.4× | -4.3% | +8.5% |
| Sanofi SAN.PA | France | $113B | +14% | +15% | 27% | 9.6× | -5.4% | +3.9% |
| GSK GSK.L | United Kingdom | $102B | 0% | +4% | 25% | 10.6× | -0.1% | -0.9% |
| Novo Nordisk A/S NOVO-B.CO | Denmark | $190B | -7% | +6% | 48% | 11.9× | 0.1% | +19.5% |
| Regeneron Pharmaceuticals REGN | United States | $93.5B | +27% | +19% | 30% | 11.3× | -2.2% | +11.0% |
| Merck KGaA MRK.DE | Germany | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% | +3.8% |
| Chugai Pharmaceutical 4519.T | Japan | $71.0B | -15% | +17% | 50% | 22.1× | 3.6% | +9.8% |
| WuXi AppTec 603259.SS | China | $67.0B | +34% | +32% | 43% | 18.1× | 7.8% | +22.3% |
| Takeda Pharmaceutical 4502.T | Japan | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% | +7.1% |
| AstraZeneca AZN.L | United Kingdom | $291B | +1% | +5% | 23% | 18.3× | 14.5% | +15.7% |
| Novartis NOVN.SW | Switzerland | $298B | +15% | -4% | 30% | 18.4× | 1.7% | -0.2% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Merck & MRK | United States | $362B | +33% | +5% | 18% | 17.4× | 4.1% | +9.3% |
| Roche RO.SW | Switzerland | $385B | +22% | -1% | 31% | 19.6× | 0.9% | +1.1% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | China | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% | +2.7% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | India | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% | +11.7% |
| BeOne Medicines 688235.SS | China | $45.8B | +19% | +28% | 15% | 74.5× | 23.3% | +79.3% |
| Sandoz SDZ.SW | Switzerland | $44.4B | +24% | +1% | 15% | 25.3× | 7.9% | +0.4% |