VRTX
Vertex Pharmaceuticals Incorporated
VRTX's fundamentals are strong, but it looks expensive: trading at 35x earnings, above its usual 28x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
VRTX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
VRTX's revenue, profitability, cash flow and balance sheet are all currently healthy.
VRTX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 23x | $360 | -34% |
| Fair | 28x | $429 | -21% |
| Forward | 29x | $543 | — |
| Expensive | 32x | $496 | -8.7% |
| Current | 35x | $543 | — |
Historical ranges are pointers, not guarantees.
VRTX's PE is in its expensive range at 35x. On analysts' estimates for next year's earnings, today's price would be 29x, in its fair range.
VRTX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect VRTX's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
VRTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $18.81 | +21% |
| Q3 2026 | $15.53 | +8.6% |
| Q2 2026 | $17.17 | +22% |
| Q1 2026 | $16.85 | +$20.65 |
| Q4 2025 | $15.32 | +$17.40 |
| Q3 2025 | $14.30 | +$16.29 |
| Q2 2025 | $14.11 | +$16.14 |
| Q1 2025 | -$3.80 | -125% |
| Q4 2024 | -$2.08 | -115% |
VRTX earned $15.53 per share over the past year, up 8.6% from the year before.
VRTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.4B | +12% |
| Q2 2026 | $3.3B | +12% |
| Q1 2026 | $3B | +7.8% |
| Q4 2025 | $3.2B | +9.5% |
| Q3 2025 | $3.1B | +11% |
| Q2 2025 | $3B | +12% |
| Q1 2025 | $2.8B | +3% |
| Q4 2024 | $2.9B | +16% |
VRTX's revenue has grown year over year every quarter since late 2020: $3.4B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -18 points |
| Q2 2026 | 37% | -1.4 points |
| Q1 2026 | 38% | +15 points |
| Q4 2025 | 38% | +2.6 points |
| Q3 2025 | 39% | -1.7 points |
| Q2 2025 | 39% | +172 points |
| Q1 2025 | 23% | -20 points |
| Q4 2024 | 35% | -4 points |
VRTX's operating margin was 21% last quarter, down 18 points from the same quarter a year ago, near the bottom of its range since 2019.
VRTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $545.8M | -52% |
| Q2 2026 | $1B | +9.3% |
| Q1 2026 | $1.3B | +66% |
| Q4 2025 | $348.6M | -29% |
| Q3 2025 | $1.1B | -12% |
| Q2 2025 | $927.4M | +$4.8B |
| Q1 2025 | $778.2M | -37% |
| Q4 2024 | $492M | +179% |
VRTX generated $3.2B in free cash flow over the past year, down 4% from the year before.
VRTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -0.9% | -2.4M shares |
| 3 years | -2.1% | -5.4M shares |
| 5 years | -1.7% | -4.5M shares |
| Available history | -2.6% | -6.9M shares |
VRTX has 255M diluted shares, down 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $126.7M |
| Q2 2026 | $469.5M |
| Q1 2026 | $336.9M |
| Q4 2025 | $128.4M |
| Q3 2025 | $1.1B |
| Q2 2025 | $391.8M |
| Q1 2025 | $426.1M |
| Q4 2024 | $417.9M |
VRTX spent $1.1B buying back its own shares over the past year, down 54% from the year before.
VRTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -1.2x | Net Cash |
| Q3 2025 | -1.2x | Net Cash |
| Q2 2025 | -1.2x | Net Cash |
| Q1 2024 | -2.1x | Net Cash |
| Q4 2023 | -2.6x | Net Cash |
VRTX has more cash than debt.
VRTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.4 | Neutral |
| Stochastic | 81.1 | Overbought |
VRTX's weekly RSI is 59 (neutral) and its Stochastic is 81 (overbought).
VRTX PE vs Healthcare Sector
| Metric | VRTX | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 26x | 35% above |
| PE % | 91 | 29 | 62 pts above |
VRTX is trading at 35x earnings, a 35% premium to the Healthcare sector's median of 26x.
VRTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $526.7 | 3% above |
| 20 week MA | $516.4 | 5.1% above |
| 50 week MA | $479.2 | 13% above |
| 100 week MA | $459.7 | 18% above |
| 200 week MA | $428.4 | 27% above |
VRTX is in an uptrend: it's above all five of its weekly moving averages, and 27% above its 200-week average.
VRTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $221.0 | $234.5 | +6.1% |
| 2021 | $234.5 | $223.5 | -4.7% |
| 2022 | $223.5 | $289.7 | +30% |
| 2023 | $289.7 | $406.9 | +40% |
| 2024 | $406.9 | $408.8 | +0.5% |
| 2025 | $408.8 | $462.9 | +13% |
| 2026 YTD | $462.9 | $542.6 | +17% |
VRTX has finished higher in five of the last six years. It's up 17% so far in 2026.