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United Therapeutics Corporation

United Therapeutics Corporation

NASDAQ•UTHR
CEO: Dr. Martine A. Rothblatt J.D., M.B.A., Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 1999-06-17
United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. The company offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients. It also markets and sells Unituxin (dinutuximab) injection, a monoclonal antibody for treating high-risk neuroblastoma; and Remunity Pump, which contains a pump and separate controller for Remodulin. In addition, the company engages in developing RemoPro and Ralinepag for the treatment of PAH; Aurora-GT, a gene therapy product to rebuild the blood vessels in the lungs; and Nebulized Tyvaso, for the treatment of idiopathic pulmonary fibrosis, as well as xenografts, which are development-stage organ products. It has licensing and collaboration agreements with DEKA Research & Development Corp. to develop a semi-disposable system for the subcutaneous delivery of treprostinil; MannKind Corporation to develop and license treprostinil inhalation powder and the Dreamboat device; and Arena Pharmaceuticals, Inc. to develop Ralinepag. The company was incorporated in 1996 and is headquartered in Silver Spring, Maryland.
Contact Information
1000 Spring Street, Silver Spring, MD, 20910, United States
301-608-9292
www.unither.com
Market Cap
$22.66B
P/E (TTM)
17.5
40.5
Dividend Yield
--
52W High
$519.99
52W Low
$266.98
52W Range
95%
Rank25Top 8.6%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$799.50M+6.76%
4-Quarter Trend

EPS

$7.73+11.54%
4-Quarter Trend

FCF

$351.60M+16.93%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Months Revenue Growth Total revenues reached $2.39B USD for nine months ended September 30, 2025, marking a 12% increase versus prior period.
Strong Operating Cash Flow Net cash provided by operating activities totaled $1.22B USD for nine months, reflecting a substantial 23% increase year-to-date.
Diluted EPS Improvement Diluted earnings per common share were $20.17 USD for nine months, showing a 9.4% increase compared to $18.43 USD previously.
Credit Facility Zero Balance Successfully repaid all outstanding debt under the 2025 Credit Agreement during Q2 2025, resulting in zero balance as of September 30, 2025.

Risk Factors

New Product Competition Threat Liquidia's Yutrepia launched, competing directly with Tyvaso DPI; Merck's Winrevair launch also pressures existing product sales.
Pricing and Reimbursement Pressure IRA implementation and payer negotiations create uncertainty regarding net prices and reimbursement levels for key treprostinil products.
Ongoing Litigation Exposure Accrued $73.3M liability related to Sandoz litigation; appeal pending before Third Circuit scheduled for November 2025.
Manufacturing Supply Chain Reliance Reliance on sole-source suppliers for critical components and complex manufacturing processes exposes inventory stability to risk.

Outlook

Tyvaso IPF Label Expansion TETON 2 phase 3 study met primary endpoint for Nebulized Tyvaso in IPF; plan to seek FDA supplemental NDA by end of 2025.
Ralinepag Phase 3 Data Expected Expect topline data readout from the ADVANCE OUTCOMES phase 3 study for Ralinepag in PAH during the first half of 2026.
Xenotransplant Clinical Progress UKidney EXPAND study initiated in January 2025, aiming for initial cohort completion to support future Biologics License Application filing.
Significant Capital Expenditures Budgeted Budgeted approximately $520M in capital expenditures through 2027 for new Tyvaso DPI and DPF facility construction projects.

Peer Comparison

Revenue (TTM)

Tenet Healthcare CorporationTHC
$20.86B
-0.6%
Genmab A/SGMAB
$18.26B
-7.6%
Quest Diagnostics IncorporatedDGX
$10.85B
+13.7%

Gross Margin (Latest Quarter)

Royalty Pharma plcRPRX
100.0%
+0.0pp
Genmab A/SGMAB
94.3%
-0.7pp
Incyte CorporationINCY
92.8%
+1.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BIIB$25.98B16.19.3%22.6%
WAT$22.98B35.431.3%30.6%
UTHR$22.66B17.518.8%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.8%
Moderate Growth
4Q Net Income CAGR
4.0%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 25, 2026
|
EPS:$6.74
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $799.50M+6.8%
    |
    EPS: $7.73+11.5%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 30, 2025|
    Revenue: $798.60M+11.7%
    |
    EPS: $6.86+9.6%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $794.40M+17.2%
    |
    EPS: $7.18+10.1%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $2.88B+23.6%
    |
    EPS: $26.44+25.7%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $748.90M+22.9%
    |
    EPS: $6.93+21.4%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $714.90M+19.8%
    |
    EPS: $6.26+13.2%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 1, 2024|
    Revenue: $677.70M+33.7%
    |
    EPS: $6.52+25.4%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 21, 2024|
    Revenue: $2.33B+20.2%
    |
    EPS: $21.04+31.7%
    Beat