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Viatris Inc.

VTRS Healthcare Drug Manufacturers Specialty & Generic

Viatris Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.3 billion, down 2.98% from fiscal 2024.

Revenue
−0.28%
EPS
−154.6%
Free cash flow
+38.8%
Total debt
−89.4%

Quarter to September 2026, against a year earlier

18.89 0.33 −1.72%
Market cap
$21.8B
P/E
0.0×
Fwd P/E
82.6×
Dividend yield
2.54%
F-score
4/9
Altman Z
0.61
Beneish M
−3.29
Dividend safety
37/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Sold, $m 1.09
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — 1 — — — — —
Insider Ownership 3.72%

Capital & Financial Ratios $m

Size
Market Cap 21,790.00
Revenue ttm 14,726.90
Net income ttm (607.80)
Free cash flow ttm 2,396.80
Net debt Q (61.70)
Valuation
P/E 0.00
Forward P/E 82.60 (above 35: high)
Price / sales 1.49
Forward P/S Powerpack
Price / FCF 10.69
Price / book 1.61
Financial health
Current ratio Q 1.55 (at or above 1.5: strong)
Debt / equity Q 0.13 (at or below 0.5: strong)
Interest coverage Q 2.33
Growth
Revenue growth Q −0.28% (below 0%: shrinking)
Operating income growth Q +46.25% (above 0%: growing)
EPS, this year +8.07%
EPS, next year A +6.77%
Revenue, next year A +3.35%
EPS, past 5 yrs —
EPS, next 5 yrs A +7.71%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 2.1×; over the ten years it ranged from 1.7× in 2020 to 3.5× in 2016.
P/S against its own 10 years 75.14%
10-year low 10-year high
P/B against its own 10 years 82.47%
10-year low 10-year high
EV/Sales against its own 10 years 59.15%
10-year low 10-year high
EV/FCF against its own 10 years 45.21%
10-year low 10-year high

Dividends

Yield
2.54%
Annual rate
0.48
Payout ratio
—
Growth, 2021–25
+9.82%/yr
  1. 0.33 ’21
  2. 0.48 ’22 +45
  3. 0.48 ’23 +0
  4. 0.48 ’24 +0
  5. 0.48 ’25 +0
  6. 0.50 ’26e +4
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 992 735 1,322 1,789
Receivables 3,700 3,221 3,031 3,121
Inventory 3,470 3,854 3,999 3,829
Other 2,786 — — —
12,976 9,521 9,789 10,298
2023 2024 2025 Q'26
Payables 1,938 1,854 1,754 1,653
ST’ Debt 1,943 8 1,933 1,728
Other 3,669 3,725 3,283 3,136
7,777 5,779 7,094 6,637

Compound Annual Growth %

10y 5y 3y
Sales 4.25% 3.66% (4.20%)
Cash Flow 1.43% 13.46% (8.26%)
Earnings 0.00% 0.00% 0.00%
Book Value 4.18% (8.51%) (11.29%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.62 Actual 0.69

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.63 0.67 Beat by 0.04
Q4 FY25 0.52 0.57 Beat by 0.05
Q1 FY26 0.52 0.59 Beat by 0.07
Q2 FY26 0.62 0.69 Beat by 0.07
Q3 FY26 0.64 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.15 (0.10) (0.28) — —
’25 (2.55) 0.00 (0.11) (0.30) (3.00)
’24 0.09 (0.27) 0.08 (0.43) (0.53)
’23 0.19 0.22 0.27 (0.64) 0.05
’22 0.33 0.26 0.29 0.83 1.71
’21 (0.86) (0.23) 0.26 (0.22) (1.05)
’20 0.04 0.08 0.36 (1.59) (1.11)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,517 3,757 3,750 — —
’25 3,254 3,582 3,760 3,704 14,300
’24 3,663 3,797 3,751 3,528 14,739
’23 3,729 3,919 3,942 3,837 15,427
’22 4,192 4,117 4,078 3,876 16,263
’21 4,430 4,578 4,537 4,342 17,886
’20 2,619 2,731 2,972 3,624 11,946
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 388 382 899 — —
’25 536 220 745 816 2,316
’24 615 379 827 483 2,303
’23 971 525 835 569 2,900
’22 1,139 803 869 189 2,999
’21 849 559 1,086 523 3,017
’20 291 380 525 36 1,232
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 268 336 897 — —
’25 485 167 646 640 1,939
’24 805 747 2,574 339 4,466
’23 889 449 781 684 2,804
’22 1,072 721 754 24 2,570
’21 808 543 967 207 2,526
’20 181 327 467 (422) 553
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −3.8% a year for ten years. It grew 11.7% a year over the last ten.

Implied
−3.8%
10 years, reported
11.7%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 11,077 11,908 11,434 11,501 11,946 17,886 16,263 15,427 14,739 14,300 14,727 +2.9% 14,779 15,221 15,785 +3.3%
Gross margin, % 42.40 40.17 35.00 33.89 31.78 31.17 39.95 41.74 38.15 35.06 35.31 (7.3) pt
EBT 122 903 298 154 (721) (664) 2,813 203 (623) (3,665) (526) n/m
EBT margin, % 1.10 7.58 2.61 1.34 (6.04) (3.71) 17.30 1.32 (4.23) (25.63) (3.57) (26.7) pt
Net income 480 696 353 17 (670) (1,269) 2,079 55 (634) (3,515) (608) n/m
Per share, $
Per share, $ Revenue 21.59 22.28 22.22 22.30 19.87 14.80 13.42 12.85 12.35 12.21 0.00 (6.1%)
Earnings 0.94 1.30 0.69 0.03 (1.11) (1.05) 1.71 0.05 (0.53) (3.00) (0.53) n/m
Cash flow 3.99 3.86 4.55 3.50 2.05 2.50 2.47 2.42 1.93 1.98 0.00 (7.5%)
Capex (1.46) (1.51) (2.27) (0.73) (1.13) (0.41) (0.35) (0.08) 1.81 (0.32) 0.00 (15.5%)
Free cash flow 2.53 2.35 2.28 2.76 0.92 2.09 2.12 2.34 3.74 1.66 0.00 (4.6%)
Book value 21.67 24.90 23.65 23.04 38.18 16.95 17.39 17.05 15.62 12.57 0.00 (5.9%)
Shares, m 513 535 515 516 601 1,209 1,212 1,200 1,193 1,171 1,164 +9.6%
Valuation, ×
Valuation, × P/E 42.98 32.91 40.29 670.00 0.00 0.00 6.66 227.80 0.00 0.00 0.00 102.1
P/S 1.81 1.94 1.23 0.90 0.94 0.91 0.85 0.89 1.01 1.02 1.49 1.1
P/B 1.80 1.73 1.16 0.87 0.49 0.80 0.65 0.67 0.80 0.99 1.61 1.0
EV/Sales 3.25 3.25 2.41 2.05 3.24 2.17 1.96 2.00 2.04 1.93 2.28 2.4
EV/FCF 27.74 30.83 23.46 16.53 70.10 15.34 12.38 10.99 6.74 14.27 16.31 22.8
Cash, $m
Cash, $m Operating cash flow 2,047 2,065 2,342 1,804 1,232 3,017 2,999 2,900 2,303 2,316 2,485 +1.4%
Capex (751) (809) (1,166) (378) (679) (491) (429) (96) 2,163 (377) (88) (7.4%)
Free cash flow 1,297 1,255 1,175 1,426 553 2,526 2,570 2,804 4,466 1,939 2,397 +4.6%
Balance, $m
Balance, $m Working capital 2,482 828 1,780 1,188 2,305 1,019 3,889 5,199 3,741 2,695 3,661 +0.9%
Net debt 15,899 15,664 13,475 13,208 27,477 22,386 18,014 17,140 15,252 15,106 (62) (0.6%)
Shareholders’ equity 11,118 13,308 12,167 11,884 22,954 20,493 21,072 20,467 18,636 14,711 13,686 +3.2%
Returns, %
Returns, % ROA 1.68 1.97 1.03 0.05 (1.44) (2.18) 3.96 0.11 (1.42) (8.93) (1.67) (10.6) pt
ROIC 1.62 3.10 2.21 1.78 (0.26) (0.05) 2.58 1.27 0.02 (5.58) (0.02) (7.2) pt
ROE 4.60 5.70 2.77 0.14 (3.85) (5.84) 10.00 0.26 (3.24) (21.08) (4.21) (25.7) pt
People
People Employees 35,000 35,000 35,000 35,000 45,000 37,000 37,000 38,000 32,000 30,000 — (1.7%)
Revenue/emp, $m 0.32 0.34 0.33 0.33 0.27 0.48 0.44 0.41 0.46 0.48 — +4.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Viatris is a global healthcare company that develops, makes and sells medicines. Its portfolio includes branded drugs, generic versions of branded medicines, and more complex generics such as inhaled treatments and injections. Generic drugs are therapeutically equivalent versions of brand drugs and generally become available after patents and other exclusivities expire.

Its medicines cover a range of conditions, including cardiovascular disease, cancer and infectious diseases. Examples include Lipitor and Lyrica among its established brands, Wixela Inhub, a generic version of the inhaled drug Advair Diskus, and an iron sucrose injection for certain patients with anemia. Viatris also provides services such as diagnostic clinics, educational seminars and digital tools to help patients manage their health.

Viatris Inc. vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TEVA Teva Pharmaceutical Industries Ltd. $48.7B 92.6× 30.7× −1.90% (below 0%: shrinking) −47.18% (below 0%: shrinking) −30.29% (below 0%: shrinking) 55.52% 16.25% Compare
HLN Haleon PLC Sponsored ADR $40.2B 20.5× 16.5× −0.32% (below 0%: shrinking) +40.00% (above 0%: growing) −42.94% (below 0%: shrinking) 62.88% 25.36% Compare
ZTS Zoetis Inc. $33.9B 13.4× 14.2× −0.24% (below 0%: shrinking) +2.48% (above 0%: growing) +17.43% (above 0%: growing) 72.73% 37.56% Compare
UTHR United Therapeutics Corporation $24.3B 19.7× 22.5× +4.13% (above 0%: growing) −21.65% (below 0%: shrinking) −63.65% (below 0%: shrinking) 88.10% 36.97% Compare
VTRS Viatris Inc. $21.8B — (loss-making) 82.6× −0.28% (below 0%: shrinking) n/m +38.78% (above 0%: growing) 38.35% 6.97%
NBIX Neurocrine Biosciences, Inc. $16.2B 23.0× 20.6× +41.24% (above 0%: growing) −3.67% (below 0%: shrinking) +79.00% (above 0%: growing) 97.63% 29.51% Compare
RDY Dr. Reddy's Laboratories Ltd $12.1B 44.4× 30.7× −10.09% (below 0%: shrinking) −36.84% (below 0%: shrinking) −70.49% (below 0%: shrinking) 52.13% 14.63% Compare
ELAN Elanco Animal Health Incorporated $11.8B — (loss-making) 161× +10.23% (above 0%: growing) +450.00% (above 0%: growing) +35.56% (above 0%: growing) 58.33% 7.97% Compare
ALKS Alkermes plc $7.5B — (loss-making) — (loss-making) +21.80% (above 0%: growing) −80.60% (below 0%: shrinking) +6.78% (above 0%: growing) 80.38% 7.50% Compare
Median of peers $20.2B 21.7× 22.5× +1.95% −12.66% −11.75% 67.81% 20.81%

All 84 Drug Manufacturers Specialty & Generic stocks →

From the latest earnings call

Updated

  • Interim CFO Paul Campbell said growth in North America and Greater China offset supply constraints in Europe and emerging markets, while the product mix benefited adjusted EBITDA.
  • CEO Scott Smith said the proposed Pacira acquisition would add two U.S. medicines, and Viatris expects its U.S. innovative medicines business to exceed $1 billion in 2027 revenue.

Largest institutional holders 13F, quarter to 30 June 2026

Holder Shares Stake Change
Vanguard 141.28m — +1.86m
Fidelity (FMR) 96.66m — +80.07m
BlackRock 86.02m — +1.66m
Davis Selected Advisers 75.23m — −2.98m
T. Rowe Price 68.21m — +2.35m
State Street 53.07m — +835.76k
Rubric Capital Management LP 34.17m — +668.74k
Geode Capital Management 32.81m — +961.80k
Dimensional Fund Advisors 29.97m — −8.34m
Invesco 20.77m — −1.20m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Viatris Inc. (VTRS) Latest News

5 Nov

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · Zacks
Impact 3 · · PR Newswire

30 Oct

Impact 4 · · PR Newswire

29 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · StockStory

28 Oct

Impact 4 · · Simply Wall St.

27 Oct

Impact 3 · · Zacks
Impact 3 · · Barchart

25 Oct

Impact 3 · · MarketBeat

23 Oct

Impact 4 · · Simply Wall St.

21 Oct

Impact 3 · · StockStory

19 Oct

Impact 3 · · Insider Monkey

16 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · PR Newswire
Impact 3 · · Stocktwits

9 Oct

Impact 4 · · Zacks
Impact 4 · · Simply Wall St.
Impact 3 · · MT Newswires

8 Oct

Impact 4 · · qz.com
Impact 4 · · Simply Wall St.
Impact 4 · · pharmaceutical-technology.com
Impact 4 · · MT Newswires
Impact 4 · · biopharmadive.com
Impact 4 · · The Motley Fool
Impact 4 · · InvestorsHub
Impact 4 · · PR Newswire

VTRS metrics, ten years each

stockrow.com/VTRS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com