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Statement
Assets, liabilities and equity aligned across the annual filing history, in USD millions.
Assets
+13.8% YoYReported for FY 2025
Liabilities
+13.9% YoYReported for FY 2025
Equity
+13.7% YoYReported for FY 2025
Equity mix
-0.0 ppEquity share of the capital base
Table view
Balance sheet, reported dollar amounts — FY 2025
Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Commentary
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated May 22, 2026. The filing-backed figures above are the current source of truth.
Vertex Pharmaceuticals’ balance sheet strengthened materially over the five-year period. Total assets rose from about **$13.4 billion in 2021 to $25.6 billion in 2025**, nearly doubling, with especially strong growth in 2022 and 2025. This indicates significant expansion in the company’s resource base, likely supported by robust cash generation from its cystic fibrosis franchise and continued investment capacity typical of a successful, cash-rich biopharma company. Even the small dip in assets from 2023 to 2024 was temporary, followed by a sharp increase in 2025. Liabilities also increased, from **$3.3 billion in 2021 to $7.0 billion in 2025**, but at a slower pace than assets overall. Stockholders’ equity expanded from **$10.1 billion to $18.7 billion** over the period, reflecting the company’s ability to accumulate retained earnings and maintain a strong net asset position. There was a notable decline in equity in 2024 versus 2023, likely due to changes in accumulated earnings, buybacks, or other balance-sheet items, but equity rebounded strongly in 2025. Overall, Vertex appears financially conservative and well-capitalized, with leverage remaining modest relative to assets—a favorable profile for a large pharmaceutical company with high R&D needs and a strong cash position.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.