# United Therapeutics Corp (UTHR) — Stock CV

United Therapeutics Corp is a $23.6B healthcare company. Revenue grew 2.5% over the last year, it keeps 42¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 18.0× earnings — in the most expensive third of its own history.

> United Therapeutics Corp specializes in drug development for pulmonary arterial hypertension (PAH), a rare and progressive disease marked by abnormally high blood pressure in the arteries of the lungs.

## Identity

- **Ticker**: UTHR
- **Sector**: Healthcare
- **Industry**: Pharmaceutical Preparations
- **Headquarters**: SILVER SPRING, MD
- **Employees**: 1 400
- **Website**: https://www.unither.com
- **Market cap**: $23.6B
- **Last price**: $549.16
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $3.15B
- **Net income**: $1.31B
- **Free cash flow**: $1.09B
- **Net cash**: $2.88B
- **P/E**: 18.0
- **Revenue growth (YoY)**: 2.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 49 |
| Growth | 70 |
| Profitability | 95 |
| Health | 100 |
| Quality | 69 |
| Moat | 68 |

## Qualifications (beginner checklist) — 10 of 10 passed

- [x] Revenue growing — +2.5% YoY
- [x] Profitable — $1.31B TTM
- [x] Profit growing — +22.9% YoY
- [x] Generates cash — $1.09B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $23.6B market cap
- [x] Not printing shares — +7.4% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [x] Financially stable — Altman Z 21.5 — safe
- [x] Valuation not extreme — P/E 18.0

## Experience (career milestones)

- **FY2025** — Best year on record: $1.33B net income
- **2023** — United Therapeutics Corporation completed the acquisition of Miromatrix Medical Inc., a…
- **FY2020** — Positive free cash flow every year since: 6-year streak
- **2018** — The company acquired SteadyMed, a medical device company developing injectable therapeutic drugs for…
- **FY2016** — First recorded profitable year: $714M net income
- **FY2016** — Revenue already above $1B: $1.60B in first reported year
- **2011** — United Therapeutics acquired Revivicor, a company focused on developing genetic biotechnology platforms to…
- **1996** — United Therapeutics was founded in 1996 by Martine Rothblatt, an American lawyer, author

## Strengths

- High gross margin (86.1%)
- Strongly profitable — 41.6% net margin
- Strong cash conversion — FCF is 34.6% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 42.2× by operating earnings

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.69B | $476M | $477M |
| FY2022 | $1.94B | $727M | $664M |
| FY2023 | $2.33B | $985M | $748M |
| FY2024 | $2.88B | $1.20B | $1.08B |
| FY2025 | $3.18B | $1.33B | $1.04B |

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Source: https://stockcv.com/UTHR — derived from company filings; may be delayed or incomplete. Information, not investment advice.