$VRTX
VERTEX PHARMACEUTICALS INC / MA

2023 Q4 Form 10-Q Financial Statement

#000087532023000031 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.518B $2.484B
YoY Change 9.34% 6.39%
Cost Of Revenue $368.0M $318.7M
YoY Change 29.9% 10.12%
Gross Profit $2.150B $2.165B
YoY Change 6.45% 5.86%
Gross Profit Margin 85.38% 87.17%
Selling, General & Admin $369.1M $263.8M
YoY Change 38.03% 6.89%
% of Gross Profit 17.17% 12.19%
Research & Development $842.4M $810.0M
YoY Change 17.54% 25.58%
% of Gross Profit 39.19% 37.42%
Depreciation & Amortization $59.00M $42.10M
YoY Change 53.65% 14.71%
% of Gross Profit 2.74% 1.94%
Operating Expenses $1.161B $1.074B
YoY Change 17.78% 20.41%
Operating Profit $988.5M $1.038B
YoY Change -4.35% -7.86%
Interest Expense $168.9M $150.8M
YoY Change 146.93% 364.0%
% of Operating Profit 17.09% 14.53%
Other Income/Expense, Net -$9.800M -$15.90M
YoY Change -60.96% -192.44%
Pretax Income $1.148B $1.179B
YoY Change 6.58% 0.24%
Income Tax $178.8M $143.9M
% Of Pretax Income 15.58% 12.2%
Net Earnings $968.8M $1.035B
YoY Change 18.31% 11.26%
Net Earnings / Revenue 38.48% 41.69%
Basic Earnings Per Share $4.01
Diluted Earnings Per Share $3.71 $3.97
COMMON SHARES
Basic Shares Outstanding 257.7M shares 258.1M shares
Diluted Shares Outstanding 260.6M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.22B $11.93B
YoY Change 4.08% 22.08%
Cash & Equivalents $11.22B $11.11B
Short-Term Investments $849.2M $818.0M
Other Short-Term Assets $623.7M $540.0M
YoY Change 738.31% -25.71%
Inventory $738.8M $688.7M
Prepaid Expenses $108.6M
Receivables $1.563B $1.539B
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.14B $14.70B
YoY Change 6.87% 19.76%
LONG-TERM ASSETS
Property, Plant & Equipment $1.453B $1.435B
YoY Change -0.2% 28.27%
Goodwill $1.100B $1.088B
YoY Change 0.0% 1.19%
Intangibles $839.9M $603.6M
YoY Change 39.15% 0.0%
Long-Term Investments $2.498B $1.799B
YoY Change 2433.27% 1724.54%
Other Assets $2.707B $475.2M
YoY Change 418.86% 258.64%
Total Long-Term Assets $8.586B $7.030B
YoY Change 74.65% 58.51%
TOTAL ASSETS
Total Short-Term Assets $14.14B $14.70B
Total Long-Term Assets $8.586B $7.030B
Total Assets $22.73B $21.73B
YoY Change 25.23% 30.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.020B $375.9M
YoY Change 893.81% 196.22%
Accrued Expenses $2.655B $2.907B
YoY Change 24.86% 28.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.547B $3.599B
YoY Change 29.37% 37.95%
LONG-TERM LIABILITIES
Long-Term Debt $376.1M $390.0M
YoY Change -12.7% -19.09%
Other Long-Term Liabilities $1.226B $869.3M
YoY Change 78.81% 651.34%
Total Long-Term Liabilities $1.602B $869.3M
YoY Change 133.65% 651.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.547B $3.599B
Total Long-Term Liabilities $1.602B $869.3M
Total Liabilities $5.150B $5.213B
YoY Change 21.51% 41.79%
SHAREHOLDERS EQUITY
Retained Earnings $10.14B $9.174B
YoY Change 55.49% 60.83%
Common Stock $7.452B $7.342B
YoY Change 0.86% 1.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.58B $16.51B
YoY Change
Total Liabilities & Shareholders Equity $22.73B $21.73B
YoY Change 25.23% 30.05%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $968.8M $1.035B
YoY Change 18.31% 11.26%
Depreciation, Depletion And Amortization $59.00M $42.10M
YoY Change 53.65% 14.71%
Cash From Operating Activities $234.6M $1.268B
YoY Change -78.25% 32.75%
INVESTING ACTIVITIES
Capital Expenditures $116.1M $40.60M
YoY Change 245.54% -174.91%
Acquisitions
YoY Change
Other Investing Activities -$770.4M -$77.10M
YoY Change -468.26% -76.64%
Cash From Investing Activities -$886.5M -$117.7M
YoY Change -604.84% -69.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -119.8M -165.0M
YoY Change -398.01% 174.09%
NET CHANGE
Cash From Operating Activities 234.6M 1.268B
Cash From Investing Activities -886.5M -117.7M
Cash From Financing Activities -119.8M -165.0M
Net Change In Cash -771.7M 985.7M
YoY Change -159.63% 92.86%
FREE CASH FLOW
Cash From Operating Activities $234.6M $1.268B
Capital Expenditures $116.1M $40.60M
Free Cash Flow $118.5M $1.228B
YoY Change -88.66% 21.6%

Facts In Submission

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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our condensed consolidated financial statements, and the amounts of revenues and expenses during the reported periods. We base our estimates on historical experience and various other assumptions, including in certain circumstances future projections that we believe to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</span></div>
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Files In Submission

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