VERTEX PHARMACEUTICALS INC / MA FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$12.0B
Gross margin	86.2%
Operating income	$4.2B
Net income	$4.0B
Diluted EPS	$15.32
Cash & equivalents	$5.1B
Total assets	$25.6B
Long-term debt	— not reported

Key takeaway

Vertex reported $12.0 billion in revenue and $3.95 billion in net income for fiscal 2025, with revenues 'substantially dependent' on its CF medicines per the filing's own risk disclosure.

🔒 4 more takeaways in the full analysis

Beneath the surface

The $379 million impairment of indefinite-lived intangible assets is a meaningful non-cash charge embedded in the $7.83 billion cost base, potentially masking underlying operating performance.

🔒 3 more insights a headline reader would miss