UTHR
United Therapeutics Corporation
UTHR's fundamentals are mixed, but it looks expensive: trading at 22x earnings, above its usual 16x. Its downside scenario is about four times its upside.
UTHR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
UTHR's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
UTHR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $321 | -46% |
| Fair | 16x | $423 | -29% |
| Expensive | 19x | $511 | -14% |
| Current | 22x | $593 | — |
| Forward | 25x | $593 | — |
Historical ranges are pointers, not guarantees.
UTHR's PE is in its expensive range at 22x. Analysts expect earnings to fall, which would put today's price at 25x next year's earnings.
UTHR Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect UTHR's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
UTHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $24.18 | -8.6% |
| Q3 2026 | $26.46 | +0.1% |
| Q2 2026 | $27.91 | +8.8% |
| Q1 2026 | $27.05 | +7.8% |
| Q4 2025 | $27.86 | +13% |
| Q3 2025 | $26.43 | +16% |
| Q2 2025 | $25.66 | +18% |
| Q1 2025 | $25.10 | +19% |
| Q4 2024 | $24.64 | +24% |
UTHR's earnings per share have climbed steadily: $26.46 over the past year, about the same as the year before, and higher year over year for 19 quarters in a row.
UTHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $832.5M | +4.1% |
| Q2 2026 | $783.3M | -1.9% |
| Q1 2026 | $781.5M | -1.6% |
| Q4 2025 | $790.2M | +7.4% |
| Q3 2025 | $799.5M | +6.8% |
| Q2 2025 | $798.6M | +12% |
| Q1 2025 | $794.4M | +17% |
| Q4 2024 | $735.9M | +20% |
UTHR's revenue has held roughly level: $833M last quarter, up 4.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | -12 points |
| Q2 2026 | 42% | -3.4 points |
| Q1 2026 | 42% | -6.5 points |
| Q4 2025 | 45% | -3.5 points |
| Q3 2025 | 49% | +2.8 points |
| Q2 2025 | 46% | +0.9 points |
| Q1 2025 | 48% | -4.4 points |
| Q4 2024 | 49% | +6.3 points |
UTHR's operating margin was 37% last quarter, down 12 points from the same quarter a year ago.
UTHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $125.8M | -64% |
| Q2 2026 | $205.6M | +59% |
| Q1 2026 | $362.5M | -6.2% |
| Q4 2025 | $173.3M | -32% |
| Q3 2025 | $351.6M | +17% |
| Q2 2025 | $129.5M | -31% |
| Q1 2025 | $386.3M | +14% |
| Q4 2024 | $254.5M | +253% |
UTHR's free cash flow has been positive every quarter for seven years: $867M over the past year, down 23% from the year before.
UTHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -500K shares |
| 1 year | -4.2% | -2M shares |
| 3 years | -8.9% | -4.4M shares |
| 5 years | -4.8% | -2.3M shares |
| Available history | +3.4% | +1.5M shares |
UTHR has 45M diluted shares, down 4.2% from a year ago, with $2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $500M |
| Q2 2026 | — |
| Q1 2026 | $1.5B |
| Q4 2025 | — |
| Q3 2025 | $1B |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
UTHR spent $2B buying back its own shares over the past year, up 100% from the year before.
UTHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -0.8x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -0.9x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -1.2x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
UTHR has more cash than debt.
UTHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.5 | Neutral |
| Stochastic | 80.5 | Overbought |
UTHR's weekly RSI is 61 (neutral) and its Stochastic is 81 (overbought).
UTHR PE vs Healthcare Sector
| Metric | UTHR | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 26x | 13% below |
| PE % | 100 | 29 | 71 pts above |
UTHR is trading at 22x earnings, a 13% discount to the Healthcare sector's median of 26x.
UTHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $555.1 | 6.9% above |
| 20 week MA | $533.6 | 11% above |
| 50 week MA | $527.2 | 13% above |
| 100 week MA | $438.2 | 35% above |
| 200 week MA | $351.1 | 69% above |
UTHR is in an uptrend: it's above all five of its weekly moving averages, and 69% above its 200-week average.
UTHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $88.8 | $149.8 | +69% |
| 2021 | $149.8 | $214.0 | +43% |
| 2022 | $214.0 | $278.8 | +30% |
| 2023 | $278.8 | $219.9 | -21% |
| 2024 | $219.9 | $360.0 | +64% |
| 2025 | $360.0 | $507.2 | +41% |
| 2026 YTD | $507.2 | $593.3 | +17% |
UTHR has finished higher in five of the last six years, two of them by more than 50%. It's up 17% so far in 2026.