United Therapeutics Corporation (UTHR) Stock

United Therapeutics Corporation (UTHR) is a Healthcare stock trading at $529.60 (as of 2026-07-20), with a market capitalization of $22.48B and a trailing P/E of 17.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

United Therapeutics Corporation is a biotechnology company that develops and commercializes therapies for chronic and life-threatening diseases. Its portfolio includes treatments for pulmonary arterial hypertension and related conditions, as well as an antibody therapy for high-risk neuroblastoma, with products sold in the United States and internationally.

Understand United Therapeutics Corporation: how it makes money

United Therapeutics develops and commercializes branded biopharmaceutical therapies for chronic, life-threatening diseases, including pulmonary arterial hypertension drugs like Remodulin and inhaled Tyvaso, and it makes money by selling these therapies to patients in the United States and internationally.

Profitability appears closely tied to high-margin sales of its core marketed therapies for pulmonary hypertension, where demand is reflected in measures like Tyvaso active patients.

Revenue by segment (latest quarter)
Tyvaso	$0.5B
Remodulin	$0.1B
Orenatram	$0.1B
Arenatram	$0.1B

Business quality (Strong): Good product visibility (Tyvaso, Remodulin, and other therapies) and one clear operating KPI (Tyvaso active patients), but the provided segment view appears incomplete or overlapping because product-level revenue candidates do not fully reconcile to the stated total revenue.

Valuation: At 20× earnings, UTHR trades 20% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Tyvaso patient base focus: The company highlights Tyvaso active patients (4,400) and progress toward a 25,000 patient goal (40% by 25 by 25).
High profitability profile in the quarter provided: For the quarter ended 2026-03-31, gross margin was 82.9% and operating margin was 41.7%.
Core therapy revenues are material in the provided breakdown: Tyvaso revenue is listed at 0.46B and Remodulin revenue at 0.15B among the largest product-level candidates.

Bear case

Revenue concentration risk in a few therapies: A meaningful portion of the provided product revenue candidates comes from a small set of therapies (for example, Tyvaso and Remodulin), so adverse changes affecting those products could have an outsized impact.
Execution risk around patient growth goals: Progress toward the 25,000 patient goal is shown as 40% (40 by 25). Falling short versus expectations could pressure growth narratives tied to patient adoption.
Operating margin sensitivity to product performance: With operating margin at 41.7% in the quarter provided, any unfavorable shift in the revenue mix or costs tied to marketed therapies could reduce profitability.

Valuation — source: SEC EDGAR (first-party)
Price	$529.60
Market Cap	$22.48B
P/E Ratio	17.5
EV / EBITDA	13.9
Price / Book	3.81
Price / Sales	7.09
FCF Yield	4.5%
DCF Value (model)	$664.94
DCF Upside vs Price	25.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.18B
Net Margin	41.9%
Revenue Growth (YoY)	-1.6%
EPS Growth (YoY)	-12.0%
FCF Growth (YoY)	-6.2%

Financial Health — source: SEC EDGAR
Altman Z-Score	20.80 (safe)

Valuation vs Sector & Industry
Stock P/E	17.5
Sector P/E (Healthcare)	21.1
Industry P/E (Pharmaceutical Products)	16.8
vs Sector	-17.1%
vs Industry	3.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($3.20B)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Martine A. Rothblatt
Employees	1,305
Country	US
IPO Date	1999-06-17

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-07-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.