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Vertex Pharmaceuticals VRTX Q1 2026 earnings

Reported May 4, 2026 · After market close

Revenue$3.0BMiss by $7.3M
EPS$4.47Beat by $0.23
Revenue estimate$3.0B
EPS estimate$4.24
“Vertex is off to a strong start in 2026, driven by leadership in cystic fibrosis; growth in sickle cell disease, beta thalassemia, and acute pain; as well as rapid pipeline progress, CASGEVY and JOURNAVX delivered more than 25 percent of our growth this quarter, underscoring the strength of the increasingly diversified revenue base. As we execute across the commercial portfolio and pipeline and build our fourth franchise in nephrology, Vertex is poised to continue to deliver for patients and create long-term value.”
Reshma Kewalramani

Next report

Nov 2, 2026 (in a month)
Revenue estimate$3.4B
EPS estimate$4.76

Financials

Q1 2026

Income statement

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Revenue$3.0B+7.8%
Gross profit$2.6B+7.8%
Operating income$1.1B+80.6%
Net income$1.0B+59.6%
EPS (diluted)$4.02+61.4%

Balance sheet

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Cash & equivalents$5.5B+17.5%
Total debt$2.0B+20.5%
Total equity$19.4B+17.4%
Total assets$26.5B+15.8%

Cash flow

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Operating cash flow$1.4B+74.4%
CapEx$133.4M+228%
Free cash flow$1.3B+66.4%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$113.44B-8.9%
Enterprise value$109.92B-9.5%
P/E26.1×—
P/S9.3×-1.9×

Profitability

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Gross margin86.2%+0.2pp
Operating margin38.3%—
Net margin35.5%—
FCF margin30.4%+20.2pp

Returns & leverage

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Return on equity24.2%—
Debt / equity0.1×0.0×
Current ratio3×+0.4×

Segments

By product

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TRIKAFTA/KAFTRIO$2.4B-7.1%
ALYFTREK$424.4M+687%
Other CF product revenues$135.9M-12.5%
CASGEVY$42.9M—
JOURNAVX$29.0M—

By geography

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Europe$950.0M+14.9%
Other$261.0M-6.8%

By segment

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Pharmaceuticals$3.0B+7.8%

FAQ

When did Vertex Pharmaceuticals report Q1 2026 earnings?
Vertex Pharmaceuticals (VRTX) reported Q1 2026 earnings on May 4, 2026 after market close.
What were Vertex Pharmaceuticals's Q1 2026 revenue and EPS?
Vertex Pharmaceuticals reported revenue of $3.0B and eps of $4.47 for Q1 2026.
Did Vertex Pharmaceuticals beat estimates in Q1 2026?
Revenue missed the consensus estimate of $3.0B by $7.3M. EPS beat the consensus estimate of $4.24 by $0.23.
How did Vertex Pharmaceuticals's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.8% from $2.8B a year earlier and eps grew 10.1% from $4.06.
Where can I find Vertex Pharmaceuticals's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000875320-26-000171) and the 10-Q periodic report (0000875320-26-000173) directly on SEC EDGAR. The filing index links above go to sec.gov.