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United Therapeutics UTHR Q4 2025 Annual earnings

Reported February 25, 2026 · Before market open

Revenue$790.2MMiss by $22.9MDiluted EPS$7.70Beat by $0.57
Revenue estimate$813.1M
EPS estimate$7.13

Next report

Jul 29, 2026 (In 4 days)
Revenue estimate$805.0M
EPS estimate$7.06

Financials

Q4 2025

Income statement

See full
Revenue$790.2M+7.4%
Gross profit$686.8M+4.1%
Operating income$356.7M-0.3%
Net income$364.3M+20.9%
EPS (diluted)$7.69+23.8%

Balance sheet

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Cash & equivalents$1.6B-8.3%
Total equity$7.1B+10.1%
Total assets$7.9B+7.0%

Cash flow

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Operating cash flow$346.2M+1.5%
CapEx$172.9M+99.4%
Free cash flow$173.3M-31.9%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$20.98B+33.2%
P/E15.7×+2.5×
P/S6.6×+1.1×

Profitability

See full
Gross margin87.9%-1.3pp
Operating margin46.9%-1.0pp
Net margin41.9%+0.4pp
FCF margin32.7%-4.9pp

Returns & leverage

See full
Return on equity19.7%+0.5pp
Current ratio6.6×+1.4×

Segments

By product

See full
Tyvaso DPI$338.6M+23.9%
Remodulin$128.0M-4.8%
Nebulized Tyvaso$125.7M-11.9%
Orenitram$121.2M+12.4%
Unituxin$62.3M-7.7%

Versus estimates

Revenue

Q1 2026$781.5MMiss by $15.9M
Q4 2025$790.2MMiss by $22.9M
Q3 2025$799.5MMiss by $15.3MQ2 2025$798.6MMiss by $3.3MQ1 2025$794.4MBeat by $15.7MQ4 2024$735.9MBeat by $1.2M

Diluted EPS

Q1 2026$5.82Miss by $1.18
Q4 2025$7.70Beat by $0.57
Q3 2025$7.16Beat by $0.27Q2 2025$6.41Miss by $0.88Q1 2025$6.63Beat by $0.34Q4 2024$6.19Miss by $0.21

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Questions, answered.

When did United Therapeutics report Q4 2025 earnings?
United Therapeutics (UTHR) reported Q4 2025 earnings on February 25, 2026 before market open.
What were United Therapeutics's Q4 2025 revenue and EPS?
United Therapeutics reported revenue of $790.2M and diluted EPS of $7.70 for Q4 2025.
Did United Therapeutics beat estimates in Q4 2025?
Revenue missed the consensus estimate of $813.1M by $22.9M. EPS beat the consensus estimate of $7.13 by $0.57.
How did United Therapeutics's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.4% from $735.9M a year earlier and diluted EPS grew 24.4% from $6.19.
Where can I find United Therapeutics's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001082554-26-000007) and the 10-K periodic report (0001082554-26-000006) directly on SEC EDGAR. The filing index links above go to sec.gov.