United Therapeutics Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.unither.com

Earnings Score
Moat Score

Market Cap $16.54B
PE 15
Debt -
Cash $1.55B
EV -
FCF $898.10M

Earnings

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Sales & Net Margins

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Earnings	$1.11B
EBIT	$1.44B
ROE	18%
ROA	20%
FCF	$898.10M
Equity	$6.10B
Growth Stability	-18%
PE	14.89
PEG	0.59
PB	2.71
P/FCF	18.42
P/S	6
Price/Cash	0.09
Net Margins	42%
Gross Margins	89%
Op. Margins	52%
Earnings CAGR	3%
Sales Growth YoY	23%
Sales Growth QoQ	5%
Sales CAGR	5%
FCF CAGR	5%
Equity CAGR	18%
Earnings Stability	0.1
Earnings Growth YoY	16%

Earnings Growth QoQ	11%
Earnings CAGR 5Y	25%
Sales CAGR 5Y	15%
FCF CAGR 5Y	9%
Equity CAGR 5Y	18%
Earnings CAGR 3Y	20%
Sales CAGR 3Y	20%
FCF CAGR 3Y	17%
Equity CAGR 3Y	17%
Market Cap	$16.54B
Revenue	$2.76B
Assets	$7.12B
Cash	$1.55B
Shares Outstanding	44.6M
Earnings Score	7%
Moat Score	97%
Working Capital	3.13B
Current Ratio	4.58
Gross Profit	$2.45B
Shares Growth 3y	-0%
Equity Growth QoQ	7%
Equity Growth YoY	7%

Assets & ROA

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Stockholders Equity & ROE

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United Therapeutics specializes in drug development for pulmonary arterial hypertension, a rare and progressive disease marked by abnormally high blood pressure in the arteries of the lungs. The company's therapies for PAH largely focus on the prostacyclin pathway, and many of its treatments are based on the same molecule, treprostinil. Most of the company's sales are generated within the United States. United Therapeutics also markets a pediatric oncology drug, but its focus largely remains in pulmonary arterial hypertension.

SEC Filings

Direct access to United Therapeutics Corp (UTHR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does United Therapeutics Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of United Therapeutics Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 10%

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United Therapeutics Corp Discounted Cash Flow

Fully customizable DCF calculator online for United Therapeutics Corp.

Years

Calculation mode

= $13B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$898M	$944M	$992M	$1B	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.4B	$1.5B	$15B
DCF		$858M	$820M	$784M	$749M	$715M	$684M	$653M	$624M	$596M	$570M	$5.7B
Value	$13B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	44%	45%	24%	36%	-7%	35%	28%	38%	42%	42%
ROA	-	46%	28%	24%	-4%	14%	11%	16%	18%	20%
ROE	-	39%	20%	21%	-4%	15%	12%	15%	16%	18%

Good Net Margins (41.74%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-
Debt over Equity	0	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	99%	-18%	100%	100%	100%	100%	-18%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-18%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	9%	8%	-6%	-11%	2%	14%	15%	20%	15%
Earnings YoY growth	-	10%	-41%	41%	-118%	-593%	-8%	53%	35%	25%
Equity YoY growth	-	17%	14%	33%	-0%	22%	17%	21%	25%	18%
FCF YoY growth	-	82%	-36%	53%	-149%	-340%	-31%	39%	13%	9%