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United Therapeutics Corp cash flow statement

In fiscal 2025, United Therapeutics Corp's operations generated $1.56bn of cash; it spent $521m on capital projects, leaving free cash flow of $1.04bn. It returned $1.00bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations100212250324425355383644474778−2077565988039781,3271,5611,685
Depreciation and amortisation111821273132333231364650505153738692
Stock-based pay101114−16303211902801274−264516413910739144148155
Capital spending95193611232475038861848459121139230247521592
Free cash flow4193214212393308333606388594−2906964776647481,0811,0411,093
Free cash flow after stock pay−97792301827311853594314620−336533339557709937893938
Share buybacks——21218842483395500250————001,0001,0002,500

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from United Therapeutics Corp's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to United Therapeutics Corp.