United Therapeutics (UTHR) Operating Margin (2009 - 2026)
United Therapeutics' (UTHR) quarterly Operating Margin came in at 42.23% in Q2 2026, down 341.0% year-over-year from 17.52% in Q2 2025, and up 1.3% quarter-over-quarter from 41.69% in Q1 2026.
Analysis
United Therapeutics (UTHR) Operating Margin (2009 - 2026) Analysis & Trends
United Therapeutics has disclosed Operating Margin across 18 years of filings, most recently posting 42.23% for Q2 2026.
- In Q2 2026, Operating Margin fell 341.0% year-over-year to 42.23%; the TTM figure through Jun 2026 stood at 44.44% (down 261.0% YoY), while the FY2025 annual figure was 46.89%, down 96.0% from the prior year.
- Operating Margin came in at 42.23% for Q2 2026 at United Therapeutics, up from 41.69% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 62.35% in Q1 2022 to a low of 35.73% in Q4 2022.
- Average Operating Margin over 5 years is 48.34%, with a median of 47.0% recorded in 2024.
- Year-over-year, Operating Margin soared 7944 bps in 2022 and plunged 785 bps in 2024.
- Over 5 years, Operating Margin stood at 35.73% in 2022, then grew by 18 bps to 42.31% in 2023, then increased by 15 bps to 48.61% in 2024, then fell by 7 bps to 45.14% in 2025, then retreated by 6 bps to 42.23% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 42.23% in Q2 2026, 41.69% in Q1 2026, and 45.14% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 646.13 Bn | 625.38 Bn | 17.26 Bn | 28.21% |
| 2 | AbbVie | 442.39 Bn | 435.82 Bn | 12.70 Bn | 37.86% |
| 3 | Merck | 366.26 Bn | 359.12 Bn | 12.21 Bn | -3.52% |
| 4 | Novartis Ag | 266.58 Bn | 258.89 Bn | 11.24 Bn | 32.97% |
| 5 | Pfizer | 159.00 Bn | 147.30 Bn | 10.94 Bn | 28.37% |
| 6 | Sanofi | 52.39 Bn | 45.00 Bn | 10.79 Bn | 9.03% |
| 7 | Revolution Medicines | 43.98 Bn | 43.98 Bn | - | - |
| 8 | Incyte | 25.41 Bn | 20.87 Bn | 1.57 Bn | 41.69% |
| 9 | United Therapeutics | 21.54 Bn | 18.88 Bn | 683.80 Mn | 42.23% |
| 10 | Neurocrine Biosciences | 15.59 Bn | 15.20 Bn | 935.80 Mn | 15.80% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 42.23% |
| Mar 31, 2026 | 41.69% |
| Dec 31, 2025 | 45.14% |
| Sep 30, 2025 | 48.59% |
| Jun 30, 2025 | 45.64% |
| Mar 31, 2025 | 48.19% |
| Dec 31, 2024 | 48.61% |
| Sep 30, 2024 | 45.81% |
| Jun 30, 2024 | 44.75% |
| Mar 31, 2024 | 52.57% |
| Dec 31, 2023 | 42.31% |
| Sep 30, 2023 | 53.66% |
| Jun 30, 2023 | 52.54% |
| Mar 31, 2023 | 56.11% |
| Dec 31, 2022 | 35.73% |
| Sep 30, 2022 | 60.91% |
| Jun 30, 2022 | 43.22% |
| Mar 31, 2022 | 62.35% |
| Dec 31, 2021 | 40.90% |
| Sep 30, 2021 | 51.43% |