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United Therapeutics Corporation (UTHR) Fair Value & Analysis

Healthcare · US · Market cap $22.7B · ISIN US91307C1027

What is United Therapeutics Corporation really worth?

UT United Therapeutics Corporation logo United Therapeutics Corporation UTHR · US
Price$490.24
Fair Value$565.33
Upside+15.3%
Quality72/100

A solid business, trading 13% below our fair value of $565.33.

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Strengths

Healthy Growth (revenue 5y +16.5 %/yr)
Highly profitable · 40.6% net margin
Low debt · generates free cash flow
Wide moat 83/100

Risks

!Mixed vs. peers (8/15)
!The models disagree: range $433.17 to $1,167
!Weak on dividend: 8 out of 100
Evidence: High Range $433.17 – $1,167

Fair value as of: Aug 31, 2026

From 26 valuation models · updated 5 days ago

Share price −5.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide ($433.17 to $1,167). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

$596.76 $166.16 Fair Value $565.33 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range $166.16 – $596.76 · fair‑value band $433.17 – $1,167 · the $490.24 price screens below the $565.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

United Therapeutics Corporation (UTHR) currently trades at $490.24, while our model-based Fair Value estimate is $565.33, implying the stock looks roughly 13.3% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $897.46 per share, and 17 of the 26 models we run sit above the $490.24 price. Bear case: the Asset-Based group reads lowest at $112.01, and 9 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, United Therapeutics Corporation generated revenue of $3.2B at a net margin of 40.6%. Revenue declined 1.6% year over year. It earns a return on equity of 20.3%. The balance sheet holds a net cash position of $1.6B. Fundamentals as of Aug 31, 2026

Our scenario range runs from $433.17 (bear case) to $1,167 (bull case); at $490.24, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 80% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at 15%, UTHR screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $18.29 per share, which is 3.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $420.63 $678.93 $1,433 75
EPV $284.95 $327.51 $364.74 74
Growth DCF $401.52 $751.58 $1,426 74
All 26 models by family
DCF Models
FCF DCF $420.63 $678.93 $1,433 75
Owner Earnings $362.38 $786.87 $1,678 71
5Y Revenue Exit $258.47 $420.36 $732.97 70
5Y EBITDA Exit $420.30 $768.22 $1,408 72
5Y P/E Exit $507.22 $1,055 $1,767 68
10Y Revenue Exit $298.84 $526.47 $764.91 66
10Y EBITDA Exit $419.78 $837.17 $1,605 64
10Y P/E Exit $481.24 $1,004 $1,919 60
Earnings-Based
Graham-Dodd $213.82 $1,491 $2,093 63
Lynch FV $454.52 $649.32 $844.12 61
PEG = 1.0 $454.52 $649.32 $844.12 57
EPV $284.95 $327.51 $364.74 74
Dividend Discount
Gordon GGM $21.20 $44.08 $69.92 66
DDM Multi-Stage $21.20 $37.17 $46.26 66
Multiples
P/E Multiple $518.83 $691.77 $864.71 63
P/S Multiple $196.83 $262.43 $328.04 58
P/B Multiple $400.91 $534.55 $668.19 55
EV/EBIT $485.35 $637.26 $789.17 66
EV/EBITDA $426.10 $558.26 $690.42 67
EV/Revenue $187.08 $254.56 $322.04 54
Asset-Based
NCAV (Graham) $83.59 $112.01 $167.18 54
Growth DCF
Growth DCF $401.52 $751.58 $1,426 74
Rev-Margin DCF $258.47 $450.91 $739.27 71
Economic Profit
Residual Income $212.51 $297.40 $1,473 64
ROIC Compounder $350.46 $508.19 $680.84 71
Growth Earnings
Growth-Adj P/E $628.22 $897.46 $1,167 67

Widest divergence: Growth Earnings ($897.46) versus Dividend Discount ($37.17). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 18.1
P/S ratio 7.61 P/E × margin
EPS (TTM) $27.03 price ÷ EPS = P/E 18.1
Dividend yield 0.4% payout 7.6%
Net margin 41.9% FY2025
Return on equity 20.3% TTM
More key figures
Profitability
Return on assets (EBIT) 16.3% avg 5y
Operating margin 41.7% TTM
Growth
Revenue (TTM) $3.2B TTM
Revenue growth (YoY) −1.6% 3y avg +18.0%
EPS growth (YoY) −12.2%
Balance sheet & cash flow
Free cash flow $1.0B FY2025
Net cash $1.6B FY2025

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 72 · Market factors (momentum, volatility) 61

Profitability 70
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

United Therapeutics Corporation engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally.

Full company description

United Therapeutics Corporation engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. It offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Nebulized Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients. It also markets and sells Unituxin (dinutuximab) injection, a monoclonal antibody for high-risk neuroblastoma; and Remunity Pump, which contains a pump and separate controller for Remodulin. In addition, it is involved in developing RemunityPRO Pump and Ralinepag for the treatment of PAH;and Nebulized Tyvaso, for the treatment of idiopathic pulmonary fibrosis, as well as xenografts, which are development-stage organ products. Further, it provides preclinical products, including EVLP/CLES, for lung transplant; UKidney, UHeart, UThymoKidney, a development-stage gene-edited porcine kidneys and hearts for xenotransplantation; ULobe, for allogeneic regenerative medicine; ULung, for autologous regenerative medicine; IVIVA Kidney, for autologous regenerative medicine; miroliver, for allogeneic regenerative medicine; and mirokidney, for allogeneic regenerative medicine. It has licensing and collaboration agreements with DEKA Research & Development Corp. to develop a semi-disposable system for the subcutaneous delivery of treprostinil; MannKind Corporation to develop and license treprostinil inhalation powder and the Dreamboat device; and Arena Pharmaceuticals, Inc. to develop Ralinepag. The company was founded in 1996 and is headquartered in Silver Spring, Maryland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

United Therapeutics Corporation reported revenue of $3.2B in FY2025 versus $1.7B in FY2021, a compound +17.2%/yr. Reported net income was $1.3B in FY2025, compounding +29.4%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$3.2B
Latest YoY
+10.6%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.5%
Avg. revenue growth/yr (27Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+46.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+18.5% (18.1 + 0.4)
Revenue +17.2%/yr
FY21 $1.7B
FY22 $1.9B
FY23 $2.3B
FY24 $2.9B
FY25 $3.2B
Net income +29.4%/yr
FY21 $476M
FY22 $727M
FY23 $985M
FY24 $1.2B
FY25 $1.3B
Character of growth · EPS growth decomposed (2014-2025) +8.9 % p.a.
Revenue per share +8.0 %

of which total revenue +7.6 % · buybacks/dilution +0.5 %

EBIT margin −0.9 %
Tax rate +2.0 %
Residual (interest, one-offs) −0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "United Therapeutics Corporation Fair Value". https://www.fairvalue-calculator.com/stock/UTHR

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Drug Manufacturers - Specialty & Generic · 608 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 72 · Top 25%
Fair Value upside +15% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 42% · Top 25%
Revenue growth −2% · Below median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 18.1× · Cheaper than median
P/B 3.20× · Pricier than median
P/S (TTM) 7.17× · Pricier than 75% of peers
P/FCF 21.8× · Pricier than 75% of peers
EV/EBITDA 13.9× · Pricier than median
PEG 2.22× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE54 · sector 2
FUTURE0 · sector 22
PAST81 · sector 26
HEALTH98 · sector 97
DIVIDEND8 · sector 29

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 −24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 −38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 −52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 −49%
Galderma Group GALD CHF 178.55 CHF 55.07 −69%
Haleon plc HLN $10.11 $7.64 −24%
Teva Pharmaceutical Industries Limited TEVA $36.05 $15.33 −57%
Sandoz Group SDZ CHF 70.66 CHF 39.21 −45%
Zoetis Inc ZTS $77.10 $104.88 +36%
Hansoh Pharmaceutical Group 3692 HK$35.12 HK$16.18 −54%

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Frequently asked questions

Is United Therapeutics Corporation (UTHR) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of $565.33 versus a price of $490.24, about +15% upside (undervalued).
What is the fair value of UTHR?
Our model-based fair value for United Therapeutics Corporation is $565.33 (as of Aug 31, 2026), built from audited fundamentals. The current price: $490.24.
What is the quality score of UTHR?
United Therapeutics Corporation has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of United Therapeutics Corporation (UTHR)?
United Therapeutics Corporation reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of UTHR?
The net profit margin of United Therapeutics Corporation is about 40.6%, meaning it keeps roughly 40.6% of revenue as net income. Based on the latest reported figures.
Does United Therapeutics Corporation pay a dividend?
United Therapeutics Corporation currently shows a dividend yield of about 0.42% relative to its recent price (as of Aug 31, 2026).
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