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United Therapeutics Income Statement

Revenue, expenses, and profitability over time

United Therapeutics generated $3.2B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $1.3B with a 40.61% net margin. Gross margin stands at 86.58% and operating margin at 45.29%. Diluted EPS is $27.05, which grew 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$3.2BGross Profit (TTM)$2.7BOperating Income (TTM)$1.4BNet Income (TTM)$1.3BEps Diluted (TTM)$27.05
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$24.1B
P/E Ratio18.69
ROE20.26%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$6.73$7.18$6.86$7.73$8.36$6.32
Diluted earnings per share$6.23$6.63$6.41$7.16$7.66$5.82
Weighted-average shares, basic—44.9M45.1M43.8M—43.5M
Weighted-average shares, diluted—48.6M48.3M47.3M—47.2M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$660.0M$701.9M$711.0M$698.6M$686.8M$648.1M
Operating income$357.7M$382.8M$364.5M$388.5M$356.7M$325.8M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Charges—-$4.3M-$100.0K$6.1M$47.2M-$46.3M
Interest expense$7.9M$6.1M$7.3M$3.0M$3.1M$3.0M
Interest income$49.3M$51.1M$51.3M$46.4M$43.2M$41.8M
Other income (expense), net$38.8M$40.7M$43.9M$49.5M$87.3M-$7.5M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$396.5M$423.5M$408.4M$438.0M$444.0M$318.3M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$95.2M$101.3M$98.9M$99.3M$79.7M$43.4M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$301.3M$322.2M$309.5M$338.7M$364.3M$274.9M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other income, net (Note 6)—-$4.3M-$100.0K$6.1M$47.2M-$46.3M
Revenue From Contract With Customer Excluding Assessed Tax$735.9M$794.4M$798.6M$799.5M$790.2M$781.5M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Research and development$133.8M$149.0M$134.0M$127.5M$139.5M$138.2M
Selling, general and administrative$168.5M$170.1M$212.5M$182.6M$190.6M$184.1M
Total operating expenses$378.2M$411.6M$434.1M$411.0M$433.5M$455.7M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$75.9M$92.5M$87.6M$100.9M$103.4M$133.4M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$735.9M$794.4M$798.6M$799.5M$790.2M$781.5M