United Therapeutics annual free cash flow
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United Therapeutics Free Cash Flow (FCF) History (UTHR)
United Therapeutics reported $1.04B in free cash flow for fiscal 2025, a decrease of 3.69% from the previous fiscal year, with a free cash flow margin of 32.70%.
View full United Therapeutics company overviewUnited Therapeutics free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.04B | −$39.9M | −3.69% | +32.70% |
| 2024 | 2024-12-31 | $1.08B | $333.0M | +44.54% | +37.55% |
| 2023 | 2023-12-31 | $747.6M | $83.9M | +12.64% | +32.12% |
| 2022 | 2022-12-31 | $663.7M | $186.3M | +39.02% | +34.28% |
| 2021 | 2021-12-31 | $477.4M | −$219.0M | −31.45% | +28.32% |
| 2020 | 2020-12-31 | $696.4M | $986.7M | — | +46.95% |
| 2019 | 2019-12-31 | −$290.3M | −$884.3M | — | −20.04% |
| 2018 | 2018-12-31 | $594.0M | $206.1M | +53.13% | +36.49% |
| 2017 | 2017-12-31 | $387.9M | −$217.7M | −35.95% | +22.48% |
| 2016 | 2016-12-31 | $605.6M | $272.6M | +81.86% | +37.88% |
| 2015 | 2015-12-31 | $333.0M | $25.1M | +8.15% | +22.72% |
| 2014 | 2014-12-31 | $307.9M | −$85.5M | −21.73% | +23.90% |
| 2013 | 2013-12-31 | $393.4M | $181.6M | +85.79% | +35.22% |
| 2012 | 2012-12-31 | $211.7M | −$2.5M | −1.16% | +23.11% |
| 2011 | 2011-12-31 | $214.2M | $21.3M | +11.06% | +28.82% |
| 2010 | 2010-12-31 | $192.9M | $188.6M | +4361.99% | +32.53% |
| 2009 | 2009-12-31 | $4.3M | $169.2M | — | +1.20% |
| 2008 | 2008-12-31 | −$164.8M | — | — | −58.56% |
United Therapeutics quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $205.6M | $76.1M | +58.76% | +26.25% |
| Q1 2026 | 2026-03-31 | $362.5M | −$23.8M | −6.16% | +46.39% |
| Q4 2025 | 2025-12-31 | $173.3M | −$81.2M | −31.91% | +21.93% |
| Q3 2025 | 2025-09-30 | $351.6M | $50.9M | +16.93% | +43.98% |
| Q2 2025 | 2025-06-30 | $129.5M | −$57.6M | −30.79% | +16.22% |
| Q1 2025 | 2025-03-31 | $386.3M | $48.0M | +14.19% | +48.63% |
| Q4 2024 | 2024-12-31 | $254.5M | $182.5M | +253.47% | +34.58% |
| Q3 2024 | 2024-09-30 | $300.7M | $20.2M | +7.20% | +40.15% |
| Q2 2024 | 2024-06-30 | $187.1M | $125.5M | +203.73% | +26.17% |
| Q1 2024 | 2024-03-31 | $338.3M | $4.8M | +1.44% | +49.92% |
| Q4 2023 | 2023-12-31 | $72.0M | −$16.7M | −18.83% | +11.71% |
| Q3 2023 | 2023-09-30 | $280.5M | $90.7M | +47.79% | +46.03% |
| Q2 2023 | 2023-06-30 | $61.6M | −$48.4M | −44.00% | +10.33% |
| Q1 2023 | 2023-03-31 | $333.5M | $58.3M | +21.18% | +65.79% |
| Q4 2022 | 2022-12-31 | $88.7M | −$15.3M | −14.71% | +18.05% |
| Q3 2022 | 2022-09-30 | $189.8M | $27.5M | +16.94% | +36.78% |
| Q2 2022 | 2022-06-30 | $110.0M | −$21.9M | −16.60% | +23.56% |
| Q1 2022 | 2022-03-31 | $275.2M | $196.0M | +247.47% | +59.58% |
| Q4 2021 | 2021-12-31 | $104.0M | −$9.9M | −8.69% | +25.05% |
| Q3 2021 | 2021-09-30 | $162.3M | −$72.8M | −30.97% | +36.50% |
| Q2 2021 | 2021-06-30 | $131.9M | −$13.9M | −9.53% | +29.54% |
| Q1 2021 | 2021-03-31 | $79.2M | −$122.4M | −60.71% | +20.89% |
| Q4 2020 | 2020-12-31 | $113.9M | $36.1M | +46.40% | +29.59% |
| Q3 2020 | 2020-09-30 | $235.1M | $63.3M | +36.85% | +61.85% |
| Q2 2020 | 2020-06-30 | $145.8M | $33.2M | +29.48% | +40.28% |
| Q1 2020 | 2020-03-31 | $201.6M | $854.1M | — | +56.58% |
| Q4 2019 | 2019-12-31 | $77.8M | $44.2M | +131.55% | +25.01% |
| Q3 2019 | 2019-09-30 | $171.8M | −$24.2M | −12.35% | +42.79% |
| Q2 2019 | 2019-06-30 | $112.6M | −$13.7M | −10.85% | +30.14% |
| Q1 2019 | 2019-03-31 | −$652.5M | −$890.6M | — | −179.95% |
| Q4 2018 | 2018-12-31 | $33.6M | $147.2M | — | +8.81% |
| Q3 2018 | 2018-09-30 | $196.0M | −$40.5M | −17.12% | +47.49% |
| Q2 2018 | 2018-06-30 | $126.3M | $76.5M | +153.61% | +28.41% |
| Q1 2018 | 2018-03-31 | $238.1M | $22.9M | +10.64% | +61.18% |
| Q4 2017 | 2017-12-31 | −$113.6M | −$262.3M | — | −24.45% |
| Q3 2017 | 2017-09-30 | $236.5M | $16.9M | +7.70% | +53.09% |
| Q2 2017 | 2017-06-30 | $49.8M | −$65.5M | −56.81% | +11.20% |
| Q1 2017 | 2017-03-31 | $215.2M | $93.2M | +76.39% | +58.08% |
| Q4 2016 | 2016-12-31 | $148.7M | $154.7M | — | +36.36% |
| Q3 2016 | 2016-09-30 | $219.6M | $22.9M | +11.64% | +53.80% |
| Q2 2016 | 2016-06-30 | $115.3M | $78.1M | +209.95% | +27.94% |
| Q1 2016 | 2016-03-31 | $122.0M | $16.9M | +16.08% | +33.06% |
| Q4 2015 | 2015-12-31 | −$6.0M | −$94.4M | — | −1.48% |
| Q3 2015 | 2015-09-30 | $196.7M | $1.8M | +0.93% | +50.93% |
| Q2 2015 | 2015-06-30 | $37.2M | $104.5M | — | +10.71% |
| Q1 2015 | 2015-03-31 | $105.1M | $13.2M | +14.34% | +32.09% |
| Q4 2014 | 2014-12-31 | $88.4M | −$2.6M | −2.86% | +25.52% |
| Q3 2014 | 2014-09-30 | $194.9M | $65.0M | +50.05% | +59.07% |
| Q2 2014 | 2014-06-30 | −$67.3M | −$146.3M | — | −20.85% |
| Q1 2014 | 2014-03-31 | $91.9M | −$1.5M | −1.64% | +31.76% |
| Q4 2013 | 2013-12-31 | $91.0M | $7.1M | +8.40% | +31.49% |
| Q3 2013 | 2013-09-30 | $129.9M | $43.2M | +49.78% | +42.98% |
| Q2 2013 | 2013-06-30 | $79.0M | $35.3M | +80.60% | +28.16% |
| Q1 2013 | 2013-03-31 | $93.5M | $96.2M | — | +38.12% |
| Q4 2012 | 2012-12-31 | $84.0M | $33.1M | +65.00% | +34.43% |
| Q3 2012 | 2012-09-30 | $86.7M | $23.9M | +38.01% | +35.76% |
| Q2 2012 | 2012-06-30 | $43.7M | −$8.2M | −15.85% | +19.39% |
| Q1 2012 | 2012-03-31 | −$2.7M | −$49.7M | — | −1.32% |
| Q4 2011 | 2011-12-31 | $50.9M | $17.1M | +50.49% | +26.07% |
| Q3 2011 | 2011-09-30 | $62.8M | −$35.9M | −36.37% | +31.15% |
| Q2 2011 | 2011-06-30 | $52.0M | $19.5M | +60.08% | +28.29% |
| Q1 2011 | 2011-03-31 | $47.0M | $19.2M | +68.77% | +28.93% |
| Q4 2010 | 2010-12-31 | $33.8M | $41.9M | — | +21.04% |
| Q3 2010 | 2010-09-30 | $98.7M | — | — | +58.58% |
| Q2 2010 | 2010-06-30 | $32.5M | — | — | +24.11% |
| Q1 2010 | 2010-03-31 | $27.9M | — | — | +21.61% |
| Q3 2009 | 2009-09-30 | −$8.1M | — | — | −8.30% |
United Therapeutics free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $696.4M to $1.04B, a compound annual growth rate of 8.37%. United Therapeutics's latest reported quarter, Q2 2026, generated $205.6M in free cash flow, an increase of 58.76% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review United Therapeutics filings at SEC.gov ↗