Revenue by quarter
US$ · last 8| Quarter | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $783.3M | $333.0M | 7.27 |
| Q1 FY2026 | $781.5M | $274.9M | 5.82 |
| Q4 FY2025 | $790.2M | $364.3M | 7.70 |
| Q3 FY2025 | $799.5M | $338.7M | 7.16 |
Newest filings
All 669| Form | Filed | Accepted (ET) | |
|---|---|---|---|
| 8-K | 22 Oct 2026 | 22 Oct, 7:00 AM | |
| 8-K | 14 Oct 2026 | 14 Oct, 7:00 AM | |
| 8-K | 8 Sep 2026 | ||
| 8-K | 5 Aug 2026 | ||
| 10-Q | 5 Aug 2026 | ||
| 8-K | 23 Jul 2026 | ||
| S-8 POS | 13 Jul 2026 | ||
| S-8 POS | 13 Jul 2026 |
Description
- Ticker
- UTHR-US
- Exchange
- Nasdaq
- Index
- S&P MidCap 400
- Industry
- Pharmaceutical Preparations
- SIC division
- Manufacturing
- CIK
- 0001082554
- LEI
- 5299005C4HZL4UWROC14
- FIGI
- BBG000BV4XJ1
- Share class FIGI
- BBG001S8RV10
- Fiscal year ends
- Dec
- Filings held
- 669 since 1999
- 8-K events
- 303
- Shares short
- 3.6M, 30 Sep 2026
Financial statements
The income statement, balance sheet and cash flow by year and by quarter, line by line as the company reports them. Each column names the filing it comes from.
| Fiscal period | FY2008 | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Period ending | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Filed | 24 Feb 2011 | 28 Feb 2012 | 26 Feb 2013 | 25 Feb 2014 | 24 Feb 2015 | 25 Feb 2016 | 22 Feb 2017 | 21 Feb 2018 | 27 Feb 2019 | 26 Feb 2020 | 24 Feb 2021 | 24 Feb 2022 | 22 Feb 2023 | 21 Feb 2024 | 26 Feb 2025 | 25 Feb 2026 | 25 Feb 2026 | 25 Feb 2026 |
| +Total revenues | 282M | 359Mr | 593Mr | 743M | 916M | 1,117M | 1,289Mr | 1,466Mr | 1,599M | 1,725M | 1,628M | 1,449M | 1,483M | 1,686M | 1,936M | 2,328M | 2,877M | 3,183M |
| +Cost of sales | 3.1M | 4.4M | 5.7M | – | – | – | – | – | 73M | 106M | 199M | 118M | 108M | 123M | 152M | 258M | 310M | 384M |
| +Research and development | 239M | 120Mr | 165Mr | 180M | 173M | 299M | 243Mr | 245Mr | 148M | 265M | 358M | 1,183M | 358M | 540M | 323M | 408M | 481M | 550M |
| +Selling, general, and administrative | 94M | 172Mr | 189Mr | 157M | 202M | 394M | 381Mr | 453Mr | 317M | 330M | 266M | 336M | 424M | 467M | 482M | 477M | 710M | 756M |
| −Total operating expenses | 364M | 333Mr | 422Mr | 425M | 494M | 825M | 750Mr | 767Mr | 537M | 910M | 822M | 1,636M | 890M | 1,130M | 957M | 1,143M | 1,500M | 1,690M |
| Operating income | -82M | 26Mr | 171Mr | 318M | 422M | 293M | 539M | 699Mr | 1,062M | 815M | 805M | -188M | 594M | 556M | 980M | 1,185M | 1,377M | 1,493M |
| % of total revenues | -29.1% | 7.2% | 28.9% | 42.8% | 46.0% | 26.2% | 41.8% | 47.7% | 66.4% | 47.2% | 49.5% | -12.9% | 40.0% | 33.0% | 50.6% | 50.9% | 47.9% | 46.9% |
| +Interest income | 11M | 5.1M | 2.9M | 3.5M | 3.9M | 3.8M | – | – | 3.5M | 11M | 29M | 44M | 29M | 17M | 45M | 163M | 199M | 192M |
| −Interest expense | 11M | 13M | 20Mr | 21M | 17M | 18M | 18Mr | 4.7Mr | 3.9M | 9M | 14M | 44M | 24M | 19M | 32M | 59M | 43M | 20M |
| +Other income, net | -1M | 0.7Mr | 0.8M | -0.7Mr | 36Mr | 4.5Mr | 4Mr | 0.1Mr | -1.1Mr | 2.3Mr | -7.7M | 23M | 49M | 42M | -40M | -14M | 5.8M | 49M |
| Impairments of investments in privately-held companies | – | – | – | – | – | – | – | – | – | 50M | 54M | 0M | 9.1M | – | – | – | – | – |
| Impairment of investment in privately-held company | – | – | – | – | – | – | – | – | – | – | – | 0M | 9.1M | 2.3M | 1.7M | 0M | 0M | – |
| Total other income, net | -1.7M | -7.1Mr | -16Mr | -19M | 19M | -14M | -14Mr | 345Mr | -1.5M | -45M | -47M | 23M | 45M | 38M | -29M | 89M | 162M | 221M |
| Income before income taxes | – | 19M | 155M | 299M | 441M | 279M | 525Mr | 1,044Mr | 1,060M | 770M | 759M | -165M | 639M | 594M | 951M | 1,274M | 1,539M | 1,714M |
| % of total revenues | 5.2% | 26.2% | 40.2% | 48.1% | 25.0% | 40.8% | 71.3% | 66.3% | 44.6% | 46.6% | -11.4% | 43.1% | 35.2% | 49.1% | 54.7% | 53.5% | 53.9% | |
| −Income tax expense | -34M | -0.7M | 44Mr | 82M | 136M | 104M | 185Mr | 393Mr | 347M | 352M | 170M | -61M | 124M | 118M | 223M | 290M | 344M | 379M |
| Net income | -49M | 20M | 106M | 218M | 304M | 175M | 340Mr | 652Mr | 714M | 418M | 589M | -105M | 515M | 476M | 727M | 985M | 1,195M | 1,335M |
| % of total revenues | -17.5% | 5.4% | 17.9% | 29.3% | 33.2% | 15.6% | 26.4% | 44.5% | 44.6% | 24.2% | 36.2% | -7.2% | 34.7% | 28.2% | 37.6% | 42.3% | 41.5% | 41.9% |
| Basic | -1.08 | 0.37 | 1.89 | 3.81 | 5.84 | 3.49 | 7.06 | 14.17 | 16.29 | 9.50 | 13.54 | -2.39 | 11.65 | 10.60 | 15.98 | 21.04 | 26.44 | 30.13 |
| Diluted | -1.08 | 0.35 | 1.78 | 3.67 | 5.71 | 3.28 | 6.28 | 12.72 | 15.25 | 9.31 | 13.39 | -2.39 | 11.54 | 10.06 | 15.00 | 19.81 | 24.64 | 27.86 |
| Basic | 46M | 53M | 56M | 57M | 52M | 50M | 48Mr | 46M | 44M | 44M | 44M | 44M | 44M | 45M | 46M | 47M | 45M | 44M |
| Diluted | 46M | 56M | 60M | 59M | 53M | 53M | 54Mr | 51Mr | 47M | 45M | 44M | 44M | 45M | 47M | 49M | 50M | 49M | 48M |
Hover a figure for its source.r restated in a later filing– not reported in that period
Lines in the order and wording of the 10-K filed 25 Feb 2026. 292 of 292 subtotals add up to the company's own totals, and the balance sheet balances in 82 of 82 periods. Newest filing read: 5 Aug 2026.
Free for personal research, with credit (Data by Shikshan Nivesh) and a link. API access, bulk files and commercial use need a licence: the data licence.
Charts
Any figure or ratio in the record, by year, by quarter or on a trailing twelve months, as a value or as growth, against a peer if you like. Hover for the figures.
Revenue · quarterly · US$
Latest Jun 2026: $783.3M
Revenue = rev
Method. Each month-end, the trailing-twelve-month diluted EPS known that month (from filings filed by then) at the 10th, 50th and 90th percentile of this stock's own month-end P/E from 2012-04 to 2026-10. Months with the figure at or below zero are left out. A summary of the multiples the stock has traded at, not a value.
Ratios
Every ratio, worked out the same way for every company, by year or on a trailing twelve months. Hover a ratio for its formula.
| Fiscal year ending | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on common equity | – | – | 13.8% | 23.8% | 30.0% | 14.9% | 27.2% | 46.0% | 41.5% | 21.1% | 24.1% | −3.8% | 16.7% | 12.9% | 16.6% | 18.3% | 19.2% | 19.7% |
| Return on assets | – | – | 8.5% | 14.8% | 19.4% | 9.4% | 17.1% | 32.0% | 31.6% | 16.1% | 18.8% | −2.9% | 12.1% | 9.7% | 13.0% | 14.9% | 16.4% | 17.5% |
| Return on capital | – | – | 15.3% | 23.4% | 26.8% | 15.1% | 27.9% | 30.8% | 41.6% | 21.1% | 23.2% | −3.9% | 13.2% | 9.9% | 14.5% | 14.9% | 15.9% | 16.8% |
| Return on invested capital | – | – | 19.6% | 29.7% | 31.5% | 18.6% | 38.3% | 54.5% | 91.8% | 39.8% | 41.0% | −7.5% | 24.5% | 17.2% | 26.8% | 28.4% | 29.8% | 30.4% |
| Gross margin | 89.3% | 88.3% | 88.4% | 87.8% | 85.9% | 87.4% | 89.5% | 95.3% | 95.5% | 93.9% | 87.8% | 91.9% | 92.7% | 92.7% | 92.2% | 88.9% | 89.2% | 87.9% |
| EBITDA margin | −27.5% | 10.4% | 31.9% | 45.5% | 49.0% | 29.0% | 44.3% | 49.9% | 68.4% | 49.0% | 51.7% | −9.8% | 43.4% | 35.9% | 53.2% | 53.2% | 50.4% | 49.6% |
| Operating margin | −29.1% | 7.2% | 28.9% | 42.8% | 46.0% | 26.2% | 41.8% | 47.7% | 66.4% | 47.2% | 49.5% | −12.9% | 40.0% | 33.0% | 50.6% | 50.9% | 47.9% | 46.9% |
| Incremental operating margin | – | 139.3% | 62.2% | 97.5% | 60.1% | −64.3% | 143.6% | 90.4% | 272.6% | −195.1% | 9.7% | 554.7% | 2264.3% | −18.6% | 169.0% | 52.5% | 34.9% | 37.8% |
| Pretax margin | – | 5.2% | 26.2% | 40.2% | 48.1% | 25.0% | 40.8% | 71.3% | 66.3% | 44.6% | 46.6% | −11.4% | 43.1% | 35.2% | 49.1% | 54.7% | 53.5% | 53.9% |
| Profit margin | −17.5% | 5.4% | 17.9% | 29.3% | 33.2% | 15.6% | 26.4% | 44.5% | 44.6% | 24.2% | 36.2% | −7.2% | 34.7% | 28.2% | 37.6% | 42.3% | 41.5% | 41.9% |
| Net income to common margin | −17.5% | 5.4% | 17.9% | 29.3% | 33.2% | 15.6% | 26.4% | 44.5% | 44.6% | 24.2% | 36.2% | −7.2% | 34.7% | 28.2% | 37.6% | 42.3% | 41.5% | 41.9% |
| Effective tax rate | – | −3.7% | 28.3% | 27.4% | 30.9% | 37.4% | 35.2% | 37.6% | 32.7% | 45.7% | 22.4% | 36.7% | 19.4% | 19.9% | 23.5% | 22.7% | 22.3% | 22.1% |
What the company said with its results
The key points, guidance and management's own words from each of the last four results releases.
Key points
Revenue down two percent year over year
Total revenues were $783.3 million, down two percent from $798.6 million a year earlier. Tyvaso sales fell $17.0 million, more than the total decline of $15.3 million.
Net income and diluted EPS rose
Net income was $333.0 million, up eight percent. Diluted EPS was $7.27, up 13 percent, on 45.8 million diluted weighted average shares versus 48.3 million a year earlier.
Operating income fell from last year
Operating income was $330.8 million, against $364.5 million a year earlier, as total operating expenses rose to $452.5 million from $434.1 million.
Interest income fell after buyback funding
Interest income was $31.5 million, against $51.3 million, mainly because securities were sold to fund the 2026 ASR agreements. Other income was $13.3 million, from net unrealized gains on equity securities.
Tyvaso DPI sales up four percent
Tyvaso DPI revenue was $326.6 million, up $11.4 million. Higher quantities added $6.9 million and price added $9.4 million, partly offset by higher gross-to-net deductions.
Nebulized Tyvaso sales down 18 percent
Nebulized Tyvaso revenue was $126.0 million, down $28.4 million. U.S. quantities sold fell $37.6 million, partly offset by a price increase.
Total Tyvaso sales down four percent
Total Tyvaso revenue was $452.6 million, compared with $469.6 million, as the Nebulized Tyvaso decline outweighed the Tyvaso DPI increase.
Remodulin sales down six percent
Remodulin revenue was $126.3 million, down $8.4 million. U.S. quantities sold fell $12.3 million, partly offset by higher international revenues.
Unituxin up, Orenitram slightly higher
Unituxin revenue was $65.2 million, up 12 percent. Orenitram revenue was $125.7 million, up one percent. Adcirca revenue was $6.7 million.
U.S. sales down, rest-of-world up
U.S. revenue was $733.6 million, down from $759.8 million. Rest-of-world revenue was $49.7 million, up from $38.8 million, with Remodulin international revenue rising to $26.9 million from $21.0 million.
Cost of sales rose on inventory reserve
Cost of sales was $99.5 million, up from $87.6 million, mainly from higher inventory reserve expense. Of that increase, $7.5 million related to estimated losses under a Tyvaso DPI supply agreement.
SG&A fell on prior-year impairment
SG&A was $206.7 million, down three percent. The prior-year PP&E impairment of $21.7 million did not recur. General and administrative expense rose on headcount and consulting.
Effective tax rate fell to 11 percent
Income tax expense was $39.7 million, against $98.9 million, and the effective tax rate was 11 percent, against 24 percent. Management attributed the lower rate mainly to excess tax benefits from share-based compensation.
Share-based compensation rose 15 percent
Share-based compensation expense was $43.4 million, up 15 percent, with stock options and restricted stock units as the main components.
Guidance
- Share repurchase authorization$500 millionThrough March 9, 2027 · kept from $500 million
In their words
“We just submitted what we believe are two of the most important NDAs in rare pulmonary disease history: ralinepag tablets in PAH and Nebulized Tyvaso in IPF” Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer
“Tyvaso DPI exited the second quarter at record levels of starts, referrals, commercial patients, and total patients, reflecting strong underlying demand” Michael Benkowitz, President and Chief Operating Officer
Coming up
Approvals expected next year. Management expects potential approvals next year for Nebulized Tyvaso in IPF and ralinepag tablets in PAH.
IND and NDA filings later this year. Planned filings later this year are an IND application for ralinepag DPI and an NDA for treprostinil SMI.
Two xeno-organ facilities to launch. Management plans to launch two xeno-organ production facilities, in Minnesota and Texas, later this year.
Growth step-up by end of decade. Management said the filings may set up a quantum increase in growth by the end of the decade.
Revenue by segment
As the company reports it in the segment note of each annual report: by business, by product and by region, latest year.
- United States$3.0B 95.4%
- Rest-of-World$145.7M 4.6%
Company events
Every 8-K, sorted by the event it reports, with the moment the SEC accepted it in New York time.
| 22 Oct 2026 | 22 Oct, 7:00 AM ET | 8-K | Other events | 8.01, 9.01 | |
| 14 Oct 2026 | 14 Oct, 7:00 AM ET | 8-K | Other events | 8.01, 9.01 | |
| 8 Sep 2026 | 8-K | Material agreementInvestor update | 1.01, 7.01, 9.01 | ||
| 5 Aug 2026 | 8-K | Results | 2.02, 9.01 | ||
| 23 Jul 2026 | 8-K | Leadership changeInvestor update | 5.02, 7.01, 9.01 | ||
| 29 Jun 2026 | 8-K | Leadership changeShareholder vote | 5.02, 5.07, 9.01 | ||
| 6 May 2026 | 8-K | Results | 2.02, 9.01 | ||
| 30 Mar 2026 | 8-K | Other events | 8.01, 9.01 | ||
| 9 Mar 2026 | 8-K | Material agreementInvestor update | 1.01, 7.01, 9.01 | ||
| 2 Mar 2026 | 8-K | Investor update | 7.01, 9.01 | ||
| 25 Feb 2026 | 8-K | Results | 2.02, 9.01 | ||
| 22 Jan 2026 | 8-K | Leadership changeBylaws or fiscal year changeInvestor update | 5.02, 5.03, 7.01, 9.01 | ||
| 29 Oct 2025 | 8-K | Results | 2.02, 9.01 | ||
| 2 Sep 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 1 Aug 2025 | 8-K | Material agreementInvestor update | 1.01, 7.01, 9.01 | ||
| 30 Jul 2025 | 8-K | Results | 2.02, 9.01 | ||
| 27 Jun 2025 | 8-K | Leadership changeShareholder vote | 5.02, 5.07, 9.01 | ||
| 30 Apr 2025 | 8-K | Results | 2.02, 9.01 | ||
| 28 Apr 2025 | 8-K | Material agreementAgreement endedNew debt | 1.01, 1.02, 2.03, 9.01 | ||
| 26 Feb 2025 | 8-K | Results | 2.02, 9.01 | ||
| 13 Jan 2025 | 8-K | Investor update | 7.01, 9.01 | ||
| 30 Oct 2024 | 8-K | Results | 2.02, 9.01 | ||
| 31 Jul 2024 | 8-K | Results | 2.02, 9.01 | ||
| 27 Jun 2024 | 8-K | Leadership changeShareholder voteInvestor update | 5.02, 5.07, 7.01, 9.01 | ||
| 1 May 2024 | 8-K | Results | 2.02, 9.01 | ||
| 29 Mar 2024 | 8-K | Material agreementNew debt | 1.01, 2.03 | ||
| 25 Mar 2024 | 8-K | Material agreementInvestor update | 1.01, 7.01, 9.01 | ||
| 27 Feb 2024 | 8-K | Other events | 8.01 | ||
| 21 Feb 2024 | 8-K | ResultsInvestor update | 2.02, 7.01, 9.01 | ||
| 20 Dec 2023 | 8-K | Other events | 8.01 | ||
| 29 Nov 2023 | 8-K | Other events | 8.01 | ||
| 1 Nov 2023 | 8-K | Results | 2.02, 9.01 | ||
| 2 Aug 2023 | 8-K | Results | 2.02, 9.01 | ||
| 24 Jul 2023 | 8-K | Other events | 8.01, 9.01 | ||
| 14 Jul 2023 | 8-K/A | Shareholder vote | 5.07 | ||
| 28 Jun 2023 | 8-K | Leadership changeShareholder vote | 5.02, 5.07, 9.01 | ||
| 3 May 2023 | 8-K | Results | 2.02, 9.01 | ||
| 21 Apr 2023 | 8-K | Bylaws or fiscal year change | 5.03, 9.01 | ||
| 31 Mar 2023 | 8-K | Material agreementNew debt | 1.01, 2.03 | ||
| 22 Feb 2023 | 8-K | Results | 2.02, 9.01 | ||
| 9 Jan 2023 | 8-K | Investor update | 7.01, 9.01 | ||
| 2 Nov 2022 | 8-K | Results | 2.02, 9.01 | ||
| 11 Oct 2022 | 8-K | Other events | 8.01, 9.01 | ||
| 20 Sep 2022 | 8-K | Other events | 8.01 | ||
| 1 Sep 2022 | 8-K | Other events | 8.01, 9.01 | ||
| 3 Aug 2022 | 8-K | Results | 2.02, 9.01 | ||
| 28 Jun 2022 | 8-K | Leadership changeShareholder vote | 5.02, 5.07, 9.01 | ||
| 24 May 2022 | 8-K | Other events | 8.01, 9.01 | ||
| 4 May 2022 | 8-K | Results | 2.02, 9.01 | ||
| 22 Apr 2022 | 8-K | Other events | 8.01 |
Every filing
The company's filings with the SEC, newest first: 669 held. Insider, fund and large-holder filings have their own tables below.
| 22 Oct 2026 | 8-K | 21 Oct 2026 | 22 Oct, 7:00 AM ET | |
| 14 Oct 2026 | 8-K | 13 Oct 2026 | 14 Oct, 7:00 AM ET | |
| 8 Sep 2026 | 8-K | 8 Sep 2026 | ||
| 5 Aug 2026 | 8-K | 5 Aug 2026 | ||
| 5 Aug 2026 | 10-Q | 30 Jun 2026 | ||
| 23 Jul 2026 | 8-K | 22 Jul 2026 | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 POS | – | ||
| 13 Jul 2026 | S-8 | – | ||
| 29 Jun 2026 | 8-K | 26 Jun 2026 | ||
| 2 Jun 2026 | SD | – | ||
| 6 May 2026 | 8-K | 6 May 2026 | ||
| 6 May 2026 | 10-Q | 31 Mar 2026 | ||
| 29 Apr 2026 | ARS | 31 Dec 2025 | ||
| 29 Apr 2026 | DEFA14A | – | ||
| 29 Apr 2026 | DEF 14A | 26 Jun 2026 | ||
| 30 Mar 2026 | 8-K | 30 Mar 2026 | ||
| 9 Mar 2026 | 8-K | 9 Mar 2026 | ||
| 2 Mar 2026 | 8-K | 2 Mar 2026 | ||
| 25 Feb 2026 | 8-K | 25 Feb 2026 | ||
| 25 Feb 2026 | 10-K | 31 Dec 2025 | ||
| 22 Jan 2026 | 8-K | 21 Jan 2026 | ||
| 29 Oct 2025 | 8-K | 29 Oct 2025 | ||
| 29 Oct 2025 | 10-Q | 30 Sep 2025 | ||
| 2 Sep 2025 | 8-K | 2 Sep 2025 | ||
| 1 Aug 2025 | 8-K | 1 Aug 2025 | ||
| 30 Jul 2025 | S-8 | – | ||
| 30 Jul 2025 | 8-K | 30 Jul 2025 | ||
| 30 Jul 2025 | 10-Q | 30 Jun 2025 | ||
| 27 Jun 2025 | 8-K | 26 Jun 2025 | ||
| 30 May 2025 | SD | – | ||
| 30 Apr 2025 | 8-K | 30 Apr 2025 | ||
| 30 Apr 2025 | 10-Q | 31 Mar 2025 | ||
| 29 Apr 2025 | ARS | 31 Dec 2024 | ||
| 29 Apr 2025 | DEFA14A | – | ||
| 29 Apr 2025 | DEF 14A | 26 Jun 2025 | ||
| 28 Apr 2025 | 8-K | 25 Apr 2025 | ||
| 26 Feb 2025 | 8-K | 26 Feb 2025 | ||
| 26 Feb 2025 | 10-K | 31 Dec 2024 | ||
| 13 Jan 2025 | 8-K | 13 Jan 2025 | ||
| 30 Oct 2024 | 8-K | 30 Oct 2024 | ||
| 30 Oct 2024 | 10-Q | 30 Sep 2024 | ||
| 31 Jul 2024 | S-8 | – |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months, with the shares they held after.
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 74 | $562.97 | $41.7K | 333,869 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 110 | $563.98 | $62.0K | 333,759 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $565.09 | $90.4K | 333,599 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $570.08 | $91.2K | 333,439 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $571.76 | $91.5K | 333,279 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 40 | $573.39 | $22.9K | 333,239 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 130 | $575.32 | $74.8K | 333,109 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 190 | $576.80 | $109.6K | 332,919 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 280 | $577.28 | $161.6K | 332,639 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $578.59 | $92.6K | 332,479 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $579.69 | $92.8K | 332,319 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 360 | $581.03 | $209.2K | 331,959 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 400 | $581.83 | $232.7K | 331,559 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 760 | $583.09 | $443.1K | 330,799 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,200 | $584.21 | $701.1K | 329,599 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,756 | $585.24 | $1.0M | 327,843 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,280 | $586.31 | $750.5K | 326,563 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 937 | $587.24 | $550.2K | 325,626 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 783 | $588.19 | $460.6K | 324,843 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 240 | $589.50 | $141.5K | 324,603 | 23 Oct 2026 |
| 22 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $590.40 | $94.5K | 324,443 | 23 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 46 | $552.52 | $25.4K | 333,897 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 194 | $553.78 | $107.4K | 333,703 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 550 | $555.19 | $305.4K | 333,153 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 567 | $556.41 | $315.5K | 332,586 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,702 | $557.25 | $948.4K | 330,884 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,137 | $558.32 | $634.8K | 329,747 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 743 | $559.25 | $415.5K | 329,004 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 820 | $560.50 | $459.6K | 328,184 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 200 | $561.44 | $112.3K | 327,984 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 960 | $562.54 | $540.0K | 327,024 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,253 | $563.43 | $706.0K | 325,771 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 768 | $564.63 | $433.6K | 325,003 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 480 | $565.36 | $271.4K | 324,523 | 22 Oct 2026 |
| 21 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 80 | $566.43 | $45.3K | 324,443 | 22 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 117 | $546.84 | $64.0K | 333,826 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 575 | $547.79 | $315.0K | 333,251 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 948 | $548.95 | $520.4K | 332,303 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 586 | $550.02 | $322.3K | 331,717 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,134 | $551.03 | $624.9K | 330,583 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,560 | $551.85 | $860.9K | 329,023 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 240 | $553.14 | $132.8K | 328,783 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 1,260 | $553.97 | $698.0K | 327,523 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 160 | $555.09 | $88.8K | 327,363 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 440 | $556.06 | $244.7K | 326,923 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 320 | $557.12 | $178.3K | 326,603 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 520 | $558.72 | $290.5K | 326,083 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 280 | $559.70 | $156.7K | 325,803 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 315 | $560.67 | $176.6K | 325,488 | 21 Oct 2026 |
| 20 Oct 2026 | Rothblatt Martine AChairperson & CEO | Sale under a trading plan | 360 | $561.84 | $202.3K | 325,128 | 21 Oct 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| 15 Oct 2026 | PAUL MAHONOfficer | 8,300 | $4.5M | 15 Oct 2026 |
| 1 Oct 2026 | PAUL MAHONOfficer | 8,300 | $4.7M | 1 Oct 2026 |
| 1 Oct 2026 | MARTINE ROTHBLATTDirector, Officer | 209,000 | $113.3M | 1 Oct 2026 |
| 17 Sep 2026 | PAUL MAHONOfficer | 8,300 | $4.1M | 17 Sep 2026 |
| 14 Sep 2026 | NILDA MESADirector | 228 | $115.3K | 14 Sep 2026 |
| 3 Sep 2026 | PAUL MAHONOfficer | 8,300 | $4.0M | 3 Sep 2026 |
| 1 Sep 2026 | MARTINE ROTHBLATTOfficer | 199,500 | $101.8M | 1 Sep 2026 |
| 20 Aug 2026 | PAUL MAHONOfficer | 8,300 | $4.3M | 20 Aug 2026 |
| 6 Aug 2026 | PAUL MAHONOfficer | 8,300 | $4.3M | 6 Aug 2026 |
| 3 Aug 2026 | MARTINE ROTHBLATTDirector, Officer | 199,500 | $103.3M | 3 Aug 2026 |
| 16 Jul 2026 | PAUL A. MAHONOfficer | 8,300 | $4.4M | 16 Jul 2026 |
| 10 Jul 2026 | JAN MALCOLMDirector | 325 | $178.9K | 10 Jul 2026 |
| 2 Jul 2026 | PAUL MAHONOfficer | 8,300 | $4.6M | 2 Jul 2026 |
| 1 Jul 2026 | MARTINE ROTHBLATTDirector, Officer | 209,000 | $113.2M | 1 Jul 2026 |
| 18 Jun 2026 | PAUL MAHONOfficer | 8,300 | $4.5M | 18 Jun 2026 |
| 4 Jun 2026 | PAUL MAHONOfficer | 8,300 | $4.5M | 4 Jun 2026 |
| 1 Jun 2026 | MARTINE ROTHBLATTDirector, Officer | 199,500 | $111.1M | 1 Jun 2026 |
| 21 May 2026 | PAUL MAHONOfficer | 8,300 | $4.7M | 21 May 2026 |
| 12 May 2026 | NILDA MESADirector | 258 | $150.1K | 12 May 2026 |
| 7 May 2026 | PAUL MAHONOfficer | 8,300 | $4.9M | 7 May 2026 |
| 4 May 2026 | JAMES C EDGEMONDOfficer | 148,750 | $84.8M | 4 May 2026 |
| 1 May 2026 | MARTINE ROTHBLATTOfficer | 190,000 | $108.6M | 1 May 2026 |
| 24 Apr 2026 | CHRISTOPHER PATUSKYDirector | 2,910 | $1.7M | 24 Apr 2026 |
| 17 Apr 2026 | CHRISTOPHER PATUSKYDirector | 1,000 | $578.9K | 17 Apr 2026 |
| 16 Apr 2026 | PAUL MAHONOfficer | 8,300 | $4.8M | 16 Apr 2026 |
| 2 Apr 2026 | PAUL MAHONOfficer | 8,300 | $4.7M | 2 Apr 2026 |
| 1 Apr 2026 | MARTINE ROTHBLATTDirector, Officer | 199,500 | $118.3M | 1 Apr 2026 |
| 30 Mar 2026 | CHRISTOPHER CAUSEYDirector | 1,300 | $786.0K | 30 Mar 2026 |
| 26 Mar 2026 | TOMMY THOMPSONDirector | 2,000 | $1.1M | 26 Mar 2026 |
| 23 Mar 2026 | JUDY OLIANDirector | 200 | $106.0K | 23 Mar 2026 |
| 23 Mar 2026 | JAMES C EDGEMONDOfficer | 120,000 | $62.9M | 23 Mar 2026 |
| 19 Mar 2026 | PAUL MAHONOfficer | 8,300 | $4.4M | 19 Mar 2026 |
| 17 Mar 2026 | JAN MALCOLMDirector | 45 | $24.0K | 17 Mar 2026 |
| 16 Mar 2026 | JUDY OLIANDirector | 200 | $107.1K | 16 Mar 2026 |
| 9 Mar 2026 | JUDY OLIANDirector | 200 | $102.0K | 9 Mar 2026 |
| 5 Mar 2026 | PAUL MAHONOfficer | 8,300 | $4.0M | 5 Mar 2026 |
| 4 Mar 2026 | CHRISTOPHER CAUSEYDirector | 20 | $9.8K | 4 Mar 2026 |
| 4 Mar 2026 | TOMMY THOMPSONDirector | 2,000 | $978.8K | 4 Mar 2026 |
| 4 Mar 2026 | RAYMOND KURZWEILDirector | 4,910 | $2.4M | 4 Mar 2026 |
| 3 Mar 2026 | JAN MALCOLMDirector | 50 | $25.5K | 3 Mar 2026 |
| 2 Mar 2026 | JUDY OLIANDirector | 200 | $101.9K | 2 Mar 2026 |
| 2 Mar 2026 | MARTINE ROTHBLATTDirector, Officer | 209,000 | $105.3M | 2 Mar 2026 |
| 25 Feb 2026 | CHRISTOPHER CAUSEYDirector | 1,000 | $520.0K | 25 Feb 2026 |
| 19 Feb 2026 | PAUL MAHONOfficer | 8,300 | $4.0M | 19 Feb 2026 |
| 17 Feb 2026 | JAN MALCOLMDirector | 50 | $23.7K | 17 Feb 2026 |
| 5 Feb 2026 | PAUL MAHONOfficer | 8,300 | $4.0M | 5 Feb 2026 |
| 3 Feb 2026 | JAN MALCOLMDirector | 50 | $23.7K | 3 Feb 2026 |
| 2 Feb 2026 | Michael BenkowitzOfficer | 90,000 | $42.3M | 2 Feb 2026 |
| 20 Jan 2026 | JAN MALCOLMDirector | 50 | $23.0K | 20 Jan 2026 |
| 15 Jan 2026 | PAUL MAHONOfficer | 8,300 | $3.9M | 15 Jan 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| 14 Aug 2026 | ROTHBLATT MARTINE A | 13G amended | 5.3% | 2.3M |
| 13 Aug 2026 | Wellington Management Group LLP | 13G amended | 3.25% | 1.4M |
| 30 Apr 2026 | Vanguard Capital Management | 13G | 5.19% | 2.3M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 10 Feb 2026 | Wellington Management Group LLP | 13G | 5.7% | 2.4M |
Trades by members of the House
From each member's periodic transaction report: the amount is the band the report gives.
| 30 Oct 2025 | Lisa McClainMI09 | Purchase | $1,001 - $15,000 | SP | 21 Nov 2025 |
| 30 Oct 2025 | Lisa McClainMI09 | Sale | $1,001 - $15,000 | SP | 21 Nov 2025 |
| 31 Oct 2025 | Lisa McClainMI09 | Sale | $1,001 - $15,000 | SP | 21 Nov 2025 |
| 11 Jun 2025 | Lisa McClainMI09 | Purchase | $1,001 - $15,000 | SP | 13 Aug 2025 |
| 6 Mar 2019 | Donna ShalalaFL27 | Sale | $1,001 - $15,000 | Self | 27 Apr 2020 |
Short interest
Shares sold short and not yet bought back, on every FINRA settlement date.
| 30 Sep 2026 | 3.6M | +28.44% | 3.61 |
| 15 Sep 2026 | 2.8M | +35.97% | 3.9 |
| 31 Aug 2026 | 2.1M | -2.49% | 4.81 |
| 14 Aug 2026 | 2.1M | -9.05% | 3.52 |
| 31 Jul 2026 | 2.3M | +11.2% | 5.52 |
| 15 Jul 2026 | 2.1M | -1.37% | 5.52 |
| 30 Jun 2026 | 2.1M | +3.16% | 2.91 |
| 15 Jun 2026 | 2.1M | -6.33% | 4.64 |
| 29 May 2026 | 2.2M | -4.88% | 4.52 |
| 15 May 2026 | 2.3M | -5.94% | 4.97 |
Funds that hold it
Every fund's holding from its latest Form 13F, largest first, with what it added or trimmed in the quarter.
Funds holding
957
quarter to 30 Jun 2026
Added or new
401
since 31 Mar 2026
Trimmed
332
in the quarter
Largest holder
BlackRock, Inc.
$2.9B
| BlackRock, Inc. | $2.9B | 5.3M | -105.1K | Trimmed | 0.04% | Filing ↗ |
| Avoro Capital Advisors LLC | $1.5B | 2.8M | +147.8K | Added | 13.52% | Filing ↗ |
| Vanguard Portfolio Management LLC | $1.0B | 1.9M | -84.3K | Trimmed | 0.05% | Filing ↗ |
| Vanguard Capital Management LLC | $1.0B | 1.9M | -39.3K | Trimmed | 0.02% | Filing ↗ |
| State Street Corp. | $1.0B | 1.9M | +54.1K | Added | 0.03% | Filing ↗ |
| Renaissance Technologies LLC | $925.8M | 1.7M | -78.3K | Trimmed | 1.27% | Filing ↗ |
| Wellington Management Group LLP | $747.2M | 1.4M | -885.2K | Trimmed | 0.13% | Filing ↗ |
| Geode Capital Management, LLC | $538.9M | 996.6K | -236.4K | Trimmed | 0.03% | Filing ↗ |
| Jupiter Topco LLC | $450.1M | 831.1K | – | first | 0.18% | Filing ↗ |
| Norges Bank | $376.4M | 694.8K | – | Held | 0.04% | Filing ↗ |
| Assetmark, Inc. | $338.1M | 624.1K | +8.0K | Added | 0.58% | Filing ↗ |
| AQR Capital Management LLC | $294.6M | 546.0K | -280.2K | Trimmed | 0.10% | Filing ↗ |
| Dimensional Fund Advisors LP | $286.0M | 527.9K | +15.2K | Added | 0.05% | Filing ↗ |
| FMR LLC | $256.5M | 473.4K | -54.9K | Trimmed | 0.01% | Filing ↗ |
| Invesco Ltd. | $256.3M | 473.1K | -135.3K | Trimmed | 0.02% | Filing ↗ |
| Baillie Gifford & Co. | $253.1M | 467.2K | +39.1K | Added | 0.23% | Filing ↗ |
| Deerfield Management Company, L.P. | $247.6M | 457.0K | 0 | Held | 3.08% | Filing ↗ |
| Morgan Stanley | $236.6M | 436.7K | +27.4K | Added | 0.01% | Filing ↗ |
| Vestal Point Capital, LP | $235.7M | 435.0K | +360.0K | Added | 5.51% | Filing ↗ |
| Northern Trust Corp. | $233.4M | 430.8K | -5.7K | Trimmed | 0.03% | Filing ↗ |
| Millennium Management LLC | $221.6M | 409.1K | +255.7K | Added | 0.15% | Filing ↗ |
| Franklin Resources Inc. | $184.4M | 340.3K | +62.3K | Added | 0.04% | Filing ↗ |
| Swedbank AB | $175.0M | 323.0K | -4.1K | Trimmed | 0.15% | Filing ↗ |
| Acadian Asset Management LLC | $172.4M | 318.3K | +18.1K | Added | 0.20% | Filing ↗ |
| Citadel Advisors LLC | $165.1M | 304.7K | -56.0K | Trimmed | 0.10% | Filing ↗ |
| Charles Schwab Investment Management Inc. | $161.0M | 297.2K | -3.3K | Trimmed | 0.02% | Filing ↗ |
| Bank of New York Mellon Corp | $159.5M | 294.4K | -34.7K | Trimmed | 0.03% | Filing ↗ |
| Eversept Partners, LP | $155.9M | 287.7K | +23.4K | Added | 8.50% | Filing ↗ |
| Jane Street Group, LLC | $154.9M | 285.9K | +283.2K | Added | 0.10% | Filing ↗ |
| Caisse de depot et placement du Quebec | $154.3M | 284.8K | -58.9K | Trimmed | 0.22% | Filing ↗ |
| JPMorgan Chase & Co. | $151.0M | 275.4K | -16.3K | Trimmed | 0.01% | Filing ↗ |
| Vanguard Fiduciary Trust Co. | $145.5M | 268.5K | +499 | Added | 0.03% | Filing ↗ |
| LSV Asset Management | $145.4M | 268.4K | -130.3K | Trimmed | 0.26% | Filing ↗ |
| Pictet Asset Management Holding SA | $145.2M | 267.9K | -41.4K | Trimmed | 0.14% | Filing ↗ |
| Citigroup Inc. | $142.1M | 262.2K | +26.6K | Added | 0.07% | Filing ↗ |
| AllianceBernstein L.P. | $139.1M | 234.6K | +14.0K | Added | 0.05% | Filing ↗ |
| First Trust Advisors LP | $134.9M | 249.1K | -21.5K | Trimmed | 0.08% | Filing ↗ |
| Lord, Abbett & Co. LLC | $132.4M | 244.3K | -6.0K | Trimmed | 0.40% | Filing ↗ |
| Price T Rowe Associates Inc. | $131.9M | 243.4K | -162.0K | Trimmed | 0.01% | Filing ↗ |
| Qube Research & Technologies Ltd | $126.6M | 233.6K | +110.2K | Added | 0.14% | Filing ↗ |
| Soleus Capital Management, L.P. | $122.2M | 225.6K | +38.4K | Added | 4.21% | Filing ↗ |
| Fuller & Thaler Asset Management, Inc. | $119.6M | 220.7K | -59.7K | Trimmed | 0.33% | Filing ↗ |
| UBS Group AG | $119.5M | 220.6K | -16.1K | Trimmed | 0.02% | Filing ↗ |
| Amundi | $118.7M | 219.1K | +71.5K | Added | 0.03% | Filing ↗ |
| UBS AM, a distinct business unit of UBS Asset Management Americas LLC | $118.2M | 218.2K | +10.9K | Added | 0.02% | Filing ↗ |
| Legal & General Group Plc | $112.2M | 207.1K | +20.3K | Added | 0.02% | Filing ↗ |
| Frontier Capital Management Co. LLC | $112.1M | 206.8K | -45.9K | Trimmed | 1.04% | Filing ↗ |
| Point72 Asset Management, L.P. | $109.0M | 201.2K | +51.9K | Added | 0.17% | Filing ↗ |
| Nuveen, LLC | $108.4M | 200.1K | +9.4K | Added | 0.03% | Filing ↗ |
| Deutsche Bank AG | $105.8M | 195.3K | -3.5K | Trimmed | 0.03% | Filing ↗ |
Executive pay and performance
What the chief executive and the other named officers were paid, as reported and as actually paid, next to the shareholder return and net income, from each proxy's pay-versus-performance table.
| Fiscal year | CEO pay, as reported | CEO pay, actually paid | Other officers, as reported (average) | Other officers, actually paid (average) | Shareholder return, $100 | Peer return, $100 | Net income | Revenue | Proxy |
|---|---|---|---|---|---|---|---|---|---|
| FY ending 31 Dec 2025 | $18.0M | $149.9M | $9.4M | $55.1M | $321 | $201 | $1.33B | $3.18B | DEF 14A 29 Apr 2026 |
| FY ending 31 Dec 2024 | $23.0M | $120.3M | $10.0M | $43.7M | $232 | $156 | $1.20B | $2.88B | DEF 14A 29 Apr 2026 |
| FY ending 31 Dec 2023 | $17.0M | $-10.8M | $7.0M | $-2.2M | $145 | $144 | $984.8M | $2.33B | DEF 14A 29 Apr 2026 |
| FY ending 31 Dec 2022 | $5.3M | $41.2M | $2.4M | $15.4M | $183 | $139 | $727.3M | $1.94B | DEF 14A 29 Apr 2026 |
| FY ending 31 Dec 2021 | $3.5M | $50.4M | $2.0M | $18.3M | $142 | $124 | $475.8M | $1.69B | DEF 14A 29 Apr 2026 |
| FY ending 31 Dec 2020 | $4.8M | $49.9M | $4.1M | $17.6M | $172 | $111 | $514.8M | $1.48B | DEF 14A 29 Apr 2025 |
Each year from the newest proxy that reports it. Pay actually paid follows the SEC's definition and can be below zero when share awards fall in value. n the proxy's net income differs from the 10-K or was tagged without its scale: hover for which.
Shareholder votes
The vote count on every proposal at each meeting, from the company's 8-K.
| Proposal | For | Against or withheld | Abstain | Broker non-votes | For, % of for and against | Result |
|---|---|---|---|---|---|---|
| 1. Election of directors, each to serve a term of one year: | ||||||
| Christopher Causey | 32,342,983 | 3,861,566 | 14,328 | 1,194,857 | 89.3% | – |
| Richard Giltner | 33,029,828 | 3,174,662 | 14,387 | 1,194,857 | 91.2% | – |
| Ray Kurzweil | 35,215,793 | 988,979 | 14,105 | 1,194,857 | 97.3% | – |
| Jan Malcolm | 35,912,588 | 292,981 | 13,308 | 1,194,857 | 99.2% | – |
| Linda Maxwell | 35,472,607 | 725,977 | 20,293 | 1,194,857 | 98.0% | – |
| Nilda Mesa | 35,477,452 | 715,174 | 26,251 | 1,194,857 | 98.0% | – |
| Judy Olian | 35,661,334 | 543,343 | 14,200 | 1,194,857 | 98.5% | – |
| Christopher Patusky | 32,649,292 | 3,555,219 | 14,366 | 1,194,857 | 90.2% | – |
| Martine Rothblatt | 34,492,974 | 1,713,789 | 12,114 | 1,194,857 | 95.3% | – |
| Louis Sullivan | 33,409,607 | 2,794,332 | 14,938 | 1,194,857 | 92.3% | – |
| Tommy Thompson | 35,012,786 | 1,192,155 | 13,936 | 1,194,857 | 96.7% | – |
| Kevin Tracey | 36,187,554 | 18,239 | 13,084 | 1,194,857 | 99.9% | – |
| 2. An advisory resolution to approve executive compensation: | ||||||
| All shares voting | 35,152,059 | 1,048,505 | 18,313 | 1,194,857 | 97.1% | – |
| 3. Approval of the United Therapeutics Corporation 2026 Stock Incentive Plan: | ||||||
| All shares voting | 25,872,075 | 10,070,290 | 276,512 | 1,194,857 | 72.0% | – |
| 4. Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2026: | ||||||
| All shares voting | 35,753,887 | 1,647,415 | 12,432 | – | 95.6% | – |
Counts as the company reports them in its 8-K. A result shows when the filing states one. Meetings since 2023.
Dividends and buybacks
Dividend per share, the cash paid and the shares bought back, each fiscal year.
This company has paid no dividend in the years held.
Peers
Companies in the same industry, largest first, on the same measures.
| Company | Market value | Revenue, 12 months | Revenue growth | Operating margin | Net margin | ROE | P/E | EV/EBITDA |
|---|---|---|---|---|---|---|---|---|
| United Therapeutics Corp.this company | $25.1B | $3.2B | 2.5% | 44.4% | 41.6% | 20.5% | 21.0× | 15.6× |
| Eli Lilly & Co. | $1.20T | $79.7B | 49.6% | – | 33.5% | 78.8% | 42.7× | – |
| Johnson & Johnson | $635.2B | $99.3B | 7.8% | – | 16.2% | 19.7% | 40.0× | – |
| AbbVie Inc. | $504.8B | $64.4B | 10.4% | 26.2% | 9.8% | – | 80.7× | 23.0× |
| Merck & Co., Inc. | $358.4B | $66.6B | 4.6% | – | 4.8% | 7.6% | 116.2× | – |
| Novartis AG | $288.3B | $54.5B | 8.4% | – | – | 30.3% | 21.1× | – |
| AstraZeneca PLC | $266.0B | $58.7B | 8.6% | 23.4% | 17.4% | 21.0% | 26.2× | – |
| Abbott Laboratories | $179.4B | $46.6B | 8.1% | 15.8% | 11.6% | 10.6% | 33.6× | 19.2× |
| Novo Nordisk A/S | $174.3B | $46.8B | 6.4% | 41.3% | 33.1% | 52.8% | 11.3× | – |
| Pfizer Inc. | $171.1B | $63.7B | -0.2% | – | 6.8% | 5.1% | 39.5× | – |
| Vertex Pharmaceuticals Inc. | $132.7B | $12.6B | 10.2% | 38.0% | 35.0% | 21.8% | 30.5× | 25.3× |
What the company does
United Therapeutics develops and sells therapies for serious rare diseases, mainly pulmonary arterial hypertension (PAH), and is working on technologies to expand the supply of transplantable organs. It was founded by its Chairperson and Chief Executive Officer, Martine Rothblatt, to find a cure for her daughter's PAH, and in 2021 it converted to a public benefit corporation. Its principal executive offices are in Silver Spring, Maryland, and Durham, North Carolina.
Products
In the United States it sells five therapies for PAH: Tyvaso DPI, an inhaled dry powder; Nebulized Tyvaso, an inhaled solution; Remodulin, given by continuous injection, along with the Remunity and RemunityPRO pumps; Orenitram tablets; and Adcirca tablets. Tyvaso DPI and Nebulized Tyvaso are also approved by the FDA to treat pulmonary hypertension associated with interstitial lung disease (PH-ILD). The first four contain treprostinil, while Adcirca is tadalafil, which it sells in the United States under an exclusive license from Lilly. It also sells Unituxin, an antibody approved in March 2015 for high-risk neuroblastoma, a rare pediatric cancer. Outside the United States it sells Nebulized Tyvaso, Remodulin and Unituxin, and Remodulin is sold in most major European markets. Tyvaso DPI was developed under a 2018 license and collaboration agreement with MannKind, which shares manufacturing of the product.
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