United Therapeutics annual operating margin
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2025
United Therapeutics Operating Margin Growth & History (UTHR)
United Therapeutics's operating margin was 46.89% for fiscal 2025.
View full United Therapeutics company overviewUnited Therapeutics annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 46.89% | −0.96 pp |
| 2024 | 2024-12-31 | 47.86% | −3.05 pp |
| 2023 | 2023-12-31 | 50.91% | +0.31 pp |
| 2022 | 2022-12-31 | 50.60% | +17.62 pp |
| 2021 | 2021-12-31 | 32.98% | −7.04 pp |
| 2020 | 2020-12-31 | 40.02% | +52.97 pp |
| 2019 | 2019-12-31 | −12.95% | −62.43 pp |
| 2018 | 2018-12-31 | 49.48% | +2.25 pp |
| 2017 | 2017-12-31 | 47.23% | −19.17 pp |
| 2016 | 2016-12-31 | 66.41% | +18.72 pp |
| 2015 | 2015-12-31 | 47.69% | +5.87 pp |
| 2014 | 2014-12-31 | 41.82% | +15.63 pp |
| 2013 | 2013-12-31 | 26.19% | −19.84 pp |
| 2012 | 2012-12-31 | 46.03% | +3.27 pp |
| 2011 | 2011-12-31 | 42.76% | +13.87 pp |
| 2010 | 2010-12-31 | 28.89% | +21.72 pp |
| 2009 | 2009-12-31 | 7.18% | +36.33 pp |
| 2008 | 2008-12-31 | −29.15% | — |
United Therapeutics quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 42.23% | −3.41 pp |
| Q1 2026 | 2026-03-31 | 41.69% | −6.50 pp |
| Q4 2025 | 2025-12-31 | 45.14% | −3.47 pp |
| Q3 2025 | 2025-09-30 | 48.59% | +2.78 pp |
| Q2 2025 | 2025-06-30 | 45.64% | +0.89 pp |
| Q1 2025 | 2025-03-31 | 48.19% | −4.39 pp |
| Q4 2024 | 2024-12-31 | 48.61% | +6.29 pp |
| Q3 2024 | 2024-09-30 | 45.81% | −7.85 pp |
| Q2 2024 | 2024-06-30 | 44.75% | −7.79 pp |
| Q1 2024 | 2024-03-31 | 52.57% | −3.53 pp |
| Q4 2023 | 2023-12-31 | 42.31% | +6.59 pp |
| Q3 2023 | 2023-09-30 | 53.66% | −7.25 pp |
| Q2 2023 | 2023-06-30 | 52.54% | +9.32 pp |
| Q1 2023 | 2023-03-31 | 56.11% | −6.25 pp |
| Q4 2022 | 2022-12-31 | 35.73% | −5.17 pp |
| Q3 2022 | 2022-09-30 | 60.91% | +9.48 pp |
| Q2 2022 | 2022-06-30 | 43.22% | −6.54 pp |
| Q1 2022 | 2022-03-31 | 62.35% | +79.44 pp |
| Q4 2021 | 2021-12-31 | 40.90% | +23.93 pp |
| Q3 2021 | 2021-09-30 | 51.43% | −6.74 pp |
| Q2 2021 | 2021-06-30 | 49.76% | +10.95 pp |
| Q1 2021 | 2021-03-31 | −17.09% | −63.88 pp |
| Q4 2020 | 2020-12-31 | 16.97% | −3.45 pp |
| Q3 2020 | 2020-09-30 | 58.17% | +12.49 pp |
| Q2 2020 | 2020-06-30 | 38.81% | −20.45 pp |
| Q1 2020 | 2020-03-31 | 46.79% | +227.67 pp |
| Q4 2019 | 2019-12-31 | 20.41% | −14.07 pp |
| Q3 2019 | 2019-09-30 | 45.68% | +9.43 pp |
| Q2 2019 | 2019-06-30 | 59.26% | +10.35 pp |
| Q1 2019 | 2019-03-31 | −180.89% | −259.74 pp |
| Q4 2018 | 2018-12-31 | 34.48% | +4.57 pp |
| Q3 2018 | 2018-09-30 | 36.25% | −36.43 pp |
| Q2 2018 | 2018-06-30 | 48.91% | +29.00 pp |
| Q1 2018 | 2018-03-31 | 78.85% | +7.71 pp |
| Q4 2017 | 2017-12-31 | 29.91% | −12.68 pp |
| Q3 2017 | 2017-09-30 | 72.68% | +14.23 pp |
| Q2 2017 | 2017-06-30 | 19.91% | −49.22 pp |
| Q1 2017 | 2017-03-31 | 71.15% | −27.42 pp |
| Q4 2016 | 2016-12-31 | 42.59% | +4.31 pp |
| Q3 2016 | 2016-09-30 | 58.45% | −41.76 pp |
| Q2 2016 | 2016-06-30 | 69.12% | +19.64 pp |
| Q1 2016 | 2016-03-31 | 98.56% | +103.08 pp |
| Q4 2015 | 2015-12-31 | 38.28% | −13.28 pp |
| Q3 2015 | 2015-09-30 | 100.21% | +109.98 pp |
| Q2 2015 | 2015-06-30 | 49.48% | −5.14 pp |
| Q1 2015 | 2015-03-31 | −4.52% | −79.20 pp |
| Q4 2014 | 2014-12-31 | 51.56% | +61.42 pp |
| Q3 2014 | 2014-09-30 | −9.77% | −44.40 pp |
| Q2 2014 | 2014-06-30 | 54.62% | +11.04 pp |
| Q1 2014 | 2014-03-31 | 74.68% | +36.32 pp |
| Q4 2013 | 2013-12-31 | −9.86% | −62.60 pp |
| Q3 2013 | 2013-09-30 | 34.63% | +1.34 pp |
| Q2 2013 | 2013-06-30 | 43.59% | −3.22 pp |
| Q1 2013 | 2013-03-31 | 38.36% | −13.91 pp |
| Q4 2012 | 2012-12-31 | 52.75% | +20.21 pp |
| Q3 2012 | 2012-09-30 | 33.29% | −17.75 pp |
| Q2 2012 | 2012-06-30 | 46.81% | −15.50 pp |
| Q1 2012 | 2012-03-31 | 52.27% | +29.62 pp |
| Q4 2011 | 2011-12-31 | 32.54% | +22.98 pp |
| Q3 2011 | 2011-09-30 | 51.04% | +13.97 pp |
| Q2 2011 | 2011-06-30 | 62.31% | +16.87 pp |
| Q1 2011 | 2011-03-31 | 22.65% | −2.37 pp |
| Q4 2010 | 2010-12-31 | 9.56% | −2.52 pp |
| Q3 2010 | 2010-09-30 | 37.07% | +41.98 pp |
| Q2 2010 | 2010-06-30 | 45.44% | — |
| Q1 2010 | 2010-03-31 | 25.02% | — |
| Q3 2009 | 2009-09-30 | 12.07% | — |
| Q2 2009 | 2009-06-30 | −4.91% | — |
United Therapeutics operating margin trends
Over the last five reported fiscal years, United Therapeutics's operating margin increased from 40.02% to 46.89%, a change of +6.88 percentage points. The latest reported quarter, Q2 2026, shows 42.23%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review United Therapeutics filings at SEC.gov ↗