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Vertex Pharmaceuticals cash flow statement

In fiscal 2025, Vertex Pharmaceuticals's operations generated $3.63bn of cash; it spent $438m on capital projects, leaving free cash flow of $3.19bn. It returned $2.02bn 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 operations−428−635144268−61−573−3652368451,2701,5693,2542,6444,1303,537−4933,6314,293
Depreciation and amortisation30303538486362616172107110126148181207210222
Stock-based pay8791118114127178231241293325361430441491581699686689
Capital spending2338357151514557999575260235205200298438497
Free cash flow−451−673109197−112−624−4111807461,1751,4942,9942,4093,9253,337−7903,1943,796
Free cash flow after stock pay−538−765−982−239−802−642−614528501,1332,5641,9673,4342,756−1,4892,5083,107
Share buybacks———————003501865391,42504281,1772,0172,006
Shares issued801—————————————————

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 Vertex Pharmaceuticals'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 Vertex Pharmaceuticals.