Company / R&D Expense
United Therapeutics R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$550.0M
FY2025
5-year range
$322.9M / $550.0M
FY2021-FY2025
Trend
+14.3%
vs FY2024
Sector context
#32 of 210
Health Care
What the data says
United Therapeutics's r&d expense of $550M is higher than 85% of companies in the Health Care sector (FY2025). R&D Expense has increased for 3 consecutive years, from $323M in FY2022 to $550M in FY2025.
Based on SEC 10-K filings.
$550M in FY2025 with a 5-year CAGR of +9.0%. Top quartile in the Health Care sector.
Improved from $408M to $550M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +19.4%
- 5-Year CAGR
- +9.0%
- 10-Year CAGR
- -
Sector benchmark
Top 15% in Health CareTop 15% of 210This company $550.0M Sector average $644.1M
▼
-14.6% below sector average
Key checks
Key Insights
- United Therapeutics's r&d expense has grown for 3 consecutive years.
- 5-year CAGR of +9.0%, indicating consistent growth.
- In FY2025, r&d expense increased 14.3% year-over-year.
- Ranks #32 out of 210 companies in the Health Care sector.
Company context
Key Data Points
- Altman Z-Score 6.00 (safe zone, above 2.9 threshold)
- Strong profit margin: 40.6%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $550.0M | +14.3% |
| FY2024 | $481.0M | +17.9% |
| FY2023 | $408.0M | +26.4% |
| FY2022 | $322.9M | -40.2% |
| FY2021 | $540.1M | +51.0% |
| FY2020 | $357.7M | -69.8% |
| FY2019 | $1.2B | +230.4% |
| FY2018 | $357.9M | +46.0% |
| FY2017 | $245.1M | +66.1% |
| FY2016 | $147.6M | -39.8% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026