VRTX Vertex Pharmaceuticals
FY2025 10-K
Vertex Pharmaceuticals (VRTX) filed its fiscal year 2025 10-K annual report with the SEC on Feb 13, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business model: Biopharmaceutical company focused on developing and commercializing transformative medicines
- • Emphasis on enhanced cybersecurity governance with dedicated CISO and quarterly Board updates
Management Discussion & Analysis
- • Revenue $12.0B in 2025, up 9% YoY from $11.0B in 2024; TRIKAFTA/KAFTRIO sales $10.3B (1% increase), ALYFTREK $837.8M launched in 2025
- • Operating margin approx. 34.7% in 2025 vs 13.8% cost of sales (13.8% of net product revenues), slight improvement from 13.9% in 2024; R&D + SG&A expenses $5.7B up from $5.1B
Risk Factors
- • Regulatory risk: Impact of Colorado PDAB affordability review on TRIKAFTA pricing with potential upper payment limits under the 2023 state program
- • Macroeconomic risk: Ex-U.S. reimbursement delays and government cost-containment efforts impacting pricing and revenue in various international markets
Financial SummaryXBRL
Revenue
$12.0B
Net Income
$4.0B
Operating Margin
34.8%
Net Margin
32.9%
ROE
21.2%
Total Assets
$25.6B
EPS (Diluted)
$15.32
Operating Cash Flow
$3.6B
Source: XBRL data from Vertex Pharmaceuticals FY2025 10-K filing on SEC EDGAR. All figures in USD.
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