The sustained double-digit revenue growth, particularly in Tyvaso DPI, combined with strong profitability and ongoing share repurchases, suggests continued momentum. Traders should monitor the upcoming ADVANCE OUTCOMES and TETON-1 clinical trial readouts as potential catalysts for further upside.
Price Chart
Executive Summary
United Therapeutics reported record full-year 2025 revenue of $3.18 billion, up 11% year-over-year, driven by strong performance from Tyvaso DPI and Orenitram. Net income increased to $1.33 billion, and the company maintained its share repurchase program with $2 billion in accelerated buybacks. Management reaffirmed expectations for durable double-digit revenue growth.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue reached $3.18 billion, up 11% from $2.88 billion in 2024
- Tyvaso DPI revenue grew 25% to $1.29 billion, driven by patient growth and Medicare Part D benefit redesign
- Net income increased 12% to $1.33 billion, with diluted EPS of $27.86
- Company executed $2 billion in accelerated share repurchases ($1 billion in August 2025 and $1 billion in March 2024)
- Management maintained guidance for durable double-digit revenue growth
Financial Impact
Revenue growth of $305.3 million and net income growth of $139.6 million year-over-year
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Tyvaso DPI | $1.3K | +25.0% |
| Orenitram | $496.90 | +14.0% |
| Remodulin | $526.80 | -2.0% |
Risk Factors
- Revenue declines in Remodulin (-2% YoY) and Unituxin (-5% YoY) could indicate product lifecycle challenges
- Increased R&D spending (up 14% to $550 million) may pressure future margins if not offset by new product approvals
- Forward-looking statements about clinical trials and revenue growth are subject to significant risks and uncertainties
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001082554-26-000007 |
| Document: uthr-20260225.htm | 0001082554-26-000007 |
| Document: 0001082554-26-000007-index-headers.html | 0001082554-26-000007 |
| Document: 0001082554-26-000007-index.html | 0001082554-26-000007 |
| Document: 0001082554-26-000007.txt | 0001082554-26-000007 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $500.35 $497.31 | ▼ −0.61% | ▼ −2.72% | $573.51 (+14.62%) |
Sep 11, 2026 21d ago | Insider Cluster | $497.11 $494.63 | ▼ −0.50% | ▼ −0.28% | $573.51 (+15.37%) |
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