A Business at a Glance
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Viatris Inc
VTRS
$20.2B
Mkt Cap
$17.24
-0.23%
Viatris Inc (VTRS) has a 5-year average return on invested capital (ROIC) of -1.9%. This is below average and may indicate limited pricing power.
Viatris Inc (VTRS) has a market capitalization of $21.7B. It is classified as a large-cap stock.
Yes, Viatris Inc (VTRS) pays a dividend with a trailing twelve-month yield of 2.78%. The company also returns capital through share buybacks, with a buyback yield of 1.50%.
Viatris Inc (VTRS) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Viatris Inc (VTRS) reported annual revenue of $14.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Viatris Inc (VTRS) has a net profit margin of -24.6%. The company is currently unprofitable.
Viatris Inc (VTRS) generated $1.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Viatris is a global healthcare company supplying high-quality medicines to approximately 1 billion patients annually across more than 165 countries and territories. The company operates a diversified portfolio spanning generics (including complex products), globally recognized iconic brands, and an expanding portfolio of innovative medicines, supported by more than 1,400 approved molecules and 27 manufacturing, packaging, and distribution sites worldwide. Viatris earns revenue through a multi-segment model—Developed Markets, Emerging Markets, JANZ, and Greater China—serving customers including retail and pharmacy establishments, wholesalers, governments, institutions, and physicians. The business model combines asset-light generic distribution with branded pharmaceutical sales and an emerging innovative pipeline, generating sustainable cash flow while maintaining a global footprint with over 30,000 employees and major centers in Pittsburgh, Shanghai, and Hyderabad. The company's competitive moat rests on its extensive global supply chain infrastructure, scientific expertise across regulatory, manufacturing, and R&D functions, and a portfolio of established brands with strong patient trust and brand equity. Recent strategic initiatives including divestitures of biosimilars, women's healthcare, API, and OTC businesses have streamlined operations and accelerated debt reduction, while targeted acquisitions such as Aculys Pharma position the company to expand its innovative pipeline in high-growth therapeutic areas.
【Strategic transformation underway】 Management is executing an enterprise-wide strategic review expected to deliver approximately $650 million in gross cost savings over three years, with reinvestment of up to $250 million into commercial execution, R&D, and capability-building to drive sustainable growth beginning in 2026. The company anticipates meaningful regulatory approvals and launches in 2026, including the low-dose estrogen weekly contraceptive patch, fast-acting meloxicam, and EFFEXOR in Japan, which are positioned as significant long-term financial contributors despite modest near-term top-line impact. Management expects continued momentum in Greater China driven by favorable demographics and proactive patient choice, while pursuing accretive business development opportunities focused on innovative, patent-protected assets addressing unmet medical needs. The company remains committed to balanced capital allocation, including dividends and share repurchases, while generating robust cash flow to support both organic growth investments and strategic M&A in the coming years.
| Metric | Target | Period |
|---|---|---|
| Total Revenue | approximately 2% growth | FY2026 |
| Adjusted EBITDA | approximately 2% growth | FY2026 |
| New Product Revenues | $450–550 million | FY2026 |
| Developed Markets Net Sales Growth | 2% year-over-year | FY2026 |
| Europe Net Sales Growth | 4% year-over-year | FY2026 |
| Emerging Markets Net Sales Growth | 6% year-over-year | FY2026 |
| Greater China Net Sales Growth | 3% year-over-year | FY2026 |
| Gross Cost Savings | approximately $650 million | 3-year period (phased through 2029) |
| Net Cost Savings | $400 million | 3-year period (phased through 2029) |
| Restructuring Charges | $700–850 million | 3-year period (primarily over next three years) |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 14.6B | 14.3B | 14.7B | 15.4B | 16.3B | 17.9B |
| Net Income | -297M | -3.5B | -634M | 94M | 1.9B | -1.3B |
| EPS | $-0.27 | $-3.00 | $-0.53 | $0.05 | $1.71 | $-1.05 |
| Free Cash Flow | 1.8B | 1.9B | 2.0B | 2.5B | 2.6B | 2.6B |
| ROIC | 0.4% | -11.7% | - | 1.2% | 2.9% | -0.1% |
| Gross Margin | 34.4% | 35.1% | 38.2% | 41.7% | 40.0% | 31.2% |
| Debt/Equity | 0.98 | 1.00 | 0.77 | 0.90 | 0.93 | 1.14 |
| Dividends/Share | $0.00 | $0.48 | $0.48 | $0.48 | $0.48 | $0.33 |
| Operating Income | 139M | -2.7B | - | 766M | 1.6B | -28M |
| Operating Margin | 1.0% | -18.6% | - | 5.0% | 9.9% | -0.2% |
| ROE | -2.0% | -21.1% | -3.2% | 0.5% | 9.2% | -5.8% |
| Shares Outstanding | 1,259M | 1,172M | 1,197M | 1,876M | 1,114M | 1,209M |
| Metric | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 11.4B | 11.5B | 11.9B | 17.9B | 16.3B | 15.4B | 14.7B | 14.3B | 14.6B |
| Gross Margin | 35.0% | 33.9% | 31.8% | 31.2% | 40.0% | 41.7% | 38.2% | 35.1% | 34.4% |
| R&D | 705M | 640M | 555M | 751M | 662M | 805M | 809M | 966M | 75M |
| SG&A | 2.4B | 2.6B | 3.3B | 4.5B | 4.2B | 4.1B | 4.1B | 3.8B | 3.8B |
| EBIT | 906M | 716M | -211M | -28M | 1.6B | 766M | N/A | -2.7B | 139M |
| Op. Margin | 7.9% | 6.2% | -1.8% | -0.2% | 9.9% | 5.0% | N/A | -18.6% | 1.0% |
| Net Income | 353M | N/A | -670M | -1.3B | 1.9B | 94M | -634M | -3.5B | -297M |
| Net Margin | 3.1% | N/A | -5.6% | -7.1% | 11.7% | 0.6% | -4.3% | -24.6% | -2.0% |
| Non-Recurring | 0 | 105M | 51M | 51M | 1.9B | 340M | -79M | 2.8B | 2.8B |
| Returns on Capital | |||||||||
| ROIC | 56.4% | N/A | -0.7% | -0.1% | 2.9% | 1.2% | N/A | -11.7% | 0.4% |
| ROE | N/A | N/A | -2.9% | -5.8% | 9.2% | 0.5% | -3.2% | -21.1% | -2.0% |
| ROA | 21.9% | N/A | -1.4% | -2.2% | 3.6% | 0.2% | -1.4% | -8.9% | -0.8% |
| Cash Flow | |||||||||
| Op. Cash Flow | 2.3B | 1.8B | 1.2B | 3.0B | 3.0B | 2.9B | 2.3B | 2.3B | 2.2B |
| Free Cash Flow | 2.1B | 1.6B | 989M | 2.6B | 2.6B | 2.5B | 2.0B | 1.9B | 1.8B |
| Owner Earnings | 228M | -272M | -1.1B | -1.6B | -145M | -21M | -736M | -660M | -812M |
| CapEx | 252M | 213M | 243M | 457M | 406M | 377M | 326M | 379M | 376M |
| Maint. CapEx | 2.1B | 2.0B | 2.2B | 4.5B | 3.0B | 2.7B | 2.9B | 2.8B | 2.8B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 2.1B | 2.0B | 2.2B | 4.5B | 3.0B | 2.7B | 2.9B | 2.8B | 2.8B |
| CapEx/OCF | 10.8% | 11.8% | 19.7% | 15.2% | 13.5% | 13.0% | 14.2% | 16.4% | 17.3% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 432M | 0 | 0 | 0 | 0 | 250M | 250M | 500M | 325M |
| Buyback Yield | 3.7% | N/A | N/A | N/A | N/A | 1.3% | 1.8% | 3.5% | 1.5% |
| Stock-Based Comp | 3.3M | 57M | 79M | 111M | 116M | 181M | 146M | 178M | 171M |
| Debt Repayment | 3.2B | 1.1B | 2.5B | 4.2B | 3.7B | 1.3B | 3.7B | 100K | 100K |
| Balance Sheet | |||||||||
| Net Debt | 2.1B | 12.5B | 25.3B | 22.6B | 18.2B | 17.4B | 13.5B | 13.3B | 12.5B |
| Cash & Equiv. | 388M | 476M | 844M | 701M | 1.3B | 992M | 735M | 1.3B | 1.8B |
| Long-Term Debt | 2.6B | 11.2B | 22.4B | 19.7B | 18.0B | 16.2B | 14.0B | 12.5B | 12.4B |
| Debt/Equity | N/A | N/A | 1.14 | 1.14 | 0.93 | 0.90 | 0.77 | 1.00 | 0.98 |
| Interest Coverage | 1.7 | 1.4 | -0.4 | -0.0 | 2.7 | 1.3 | N/A | -5.7 | 0.3 |
| Equity | N/A | 0 | 23.0B | 20.5B | 21.1B | 20.5B | 18.6B | 14.7B | 14.7B |
| Total Assets | 1.6B | 31.3B | 61.6B | 54.8B | 50.0B | 47.7B | 41.5B | 37.2B | 36.8B |
| Total Liabilities | N/A | 19.4B | 38.6B | 34.4B | 28.9B | 27.2B | 22.9B | 22.5B | 22.2B |
| Intangibles | N/A | 11.6B | 29.7B | 26.1B | 22.6B | 19.2B | 17.1B | 15.1B | 14.5B |
| Retained Earnings | N/A | 6.0B | 5.4B | 3.7B | 5.2B | 4.6B | 3.4B | -388M | -212M |
| Working Capital | N/A | 1.2B | 2.3B | 1.0B | 3.9B | 5.2B | 3.7B | 2.7B | 4.1B |
| Current Assets | N/A | 6.8B | 12.9B | 10.9B | 10.6B | 13.0B | 9.5B | 9.8B | 10.9B |
| Current Liabilities | N/A | 5.6B | 10.6B | 9.9B | 6.7B | 7.8B | 5.8B | 7.1B | 6.8B |
| Per Share Data | |||||||||
| EPS | 0.68 | 0.03 | -1.11 | -1.05 | 1.71 | 0.05 | -0.53 | -3.00 | -0.27 |
| Owner EPS | 0.44 | -2,724,000.00 | -1.76 | -1.32 | -0.13 | -0.01 | -0.62 | -0.56 | -0.64 |
| Book Value | N/A | 0.00 | 38.03 | 16.95 | 18.91 | 10.91 | 15.57 | 12.56 | 11.65 |
| Cash Flow/Share | 4.52 | 18,037,000.00 | 2.04 | 2.50 | 2.69 | 1.55 | 1.92 | 1.98 | 2.00 |
| Dividends/Share | N/A | N/A | N/A | 0.33 | 0.48 | 0.48 | 0.48 | 0.48 | 0.00 |
| Shares Out. | 518.4M | 0.0M | 603.5M | 1.2B | 1.1B | 1.9B | 1.2B | 1.2B | 1.3B |
| Valuation | |||||||||
| P/E Ratio | 32.8 | 537.3 | N/A | N/A | 5.6 | 198.4 | N/A | N/A | -64.3 |
| P/FCF | 5.5 | 0.0 | 8.9 | 5.4 | 4.1 | 7.4 | 7.2 | 7.5 | 12.1 |
| EV/EBIT | 15.1 | 17.1 | N/A | N/A | 17.7 | 46.6 | N/A | N/A | 245.6 |
| Price/Book | N/A | N/A | 0.4 | 0.7 | 0.5 | 0.9 | 0.7 | 0.9 | 1.5 |
| Price/Sales | 1.4 | 0.0 | 0.7 | 0.8 | 0.6 | 1.1 | 0.9 | 0.8 | 1.5 |
| FCF Yield | 18.1% | 98669925.5% | 11.3% | 18.6% | 24.4% | 13.6% | 13.9% | 13.4% | 8.3% |
| Market Cap | 11.6B | 2K | 8.8B | 13.8B | 10.6B | 18.6B | 14.2B | 14.4B | 21.7B |
| Avg. Price | 31.06 | 18.27 | 13.82 | 12.04 | 9.47 | 9.05 | 10.92 | 9.61 | 17.24 |
| Year-End Price | 22.29 | 16.12 | 14.50 | 11.41 | 9.52 | 9.92 | 11.88 | 12.32 | 17.24 |
Viatris Inc passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 10.2x vs a median of 6.4x. The company's 5-year average gross margin is 37.2%. Total shareholder yield (dividends + buybacks) is 4.3%. At current prices, the estimated annualized return to fair value is -8.7%.
Viatris Inc (VTRS) has a debt-to-equity ratio of 1.00. This indicates moderate leverage.
Viatris Inc (VTRS) reported earnings per share (EPS) of $-3.00 in its most recent fiscal year.
Viatris Inc (VTRS) has a return on equity (ROE) of -21.1%. A negative ROE may indicate losses or negative equity.
Viatris Inc (VTRS) has a 5-year average gross margin of 37.2%. This indicates decent pricing power.
The Ledger Terminal provides 8 years of financial data for Viatris Inc (VTRS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Viatris Inc (VTRS) has a book value per share of $12.56, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is executing an enterprise-wide strategic review expected to deliver approximately $650 million in gross cost savings over three years, with reinvestment of up to $250 million into commercial execution, R&D, and capability-building to drive sustainable growth beginning in 2026. The company anticipates meaningful regulatory approvals and launches in 2026, including the low-dose estrogen weekly contraceptive patch, fast-acting meloxicam, and EFFEXOR in Japan, which are positioned as significant long-term financial contributors despite modest near-term top-line impact. Management expects continued momentum in Greater China driven by favorable demographics and proactive patient choice, while pursuing accretive business development opportunities focused on innovative, patent-protected assets addressing unmet medical needs. The company remains committed to balanced capital allocation, including dividends and share repurchases, while generating robust cash flow to support both organic growth investments and strategic M&A in the coming years.
Based on recent SEC filings and earnings calls, Viatris Inc (VTRS) has provided the following forward guidance: Total Revenue: approximately 2% growth (FY2026); Adjusted EBITDA: approximately 2% growth (FY2026); New Product Revenues: $450–550 million (FY2026); Developed Markets Net Sales Growth: 2% year-over-year (FY2026); Europe Net Sales Growth: 4% year-over-year (FY2026), plus 7 additional metrics.
| Restructuring Savings | $600–700 million | Once fully implemented |
| Cash Available for Deployment | more than $2.5 billion | FY2026 |
Total Revenue (FY2026): “We are guiding to approximately 2% total revenue and Adjusted EBITDA growth versus 2025.”
Adjusted EBITDA (FY2026): “We are guiding to approximately 2% total revenue and Adjusted EBITDA growth versus 2025.”
New Product Revenues (FY2026): “We are anticipating new product revenues of $450 -550 million, which are expected to contribute to strong segment performance.”
Developed Markets Net Sales Growth (FY2026): “We expect net sales in developed markets to grow 2% versus 2025.”
Europe Net Sales Growth (FY2026): “In Europe, we expect growth of 4% year-over-year, benefiting from several tailwinds.”
Emerging Markets Net Sales Growth (FY2026): “Turning to emerging markets, we expect to grow 6% year-over-year.”
Greater China Net Sales Growth (FY2026): “Lastly, in Greater China, we expect to deliver 3% year-over-year growth, driven primarily by our cardiovascular products that are sensitive to proactive patient choice.”
Gross Cost Savings (3-year period (phased through 2029)): “We are guiding to approximately 2% total revenue and Adjusted EBITDA growth versus 2025. A key enabler of this growth is the company's strategic review, which is expected to deliver approximately $650 million of gross cost savings or $400 million of net savings after reinvestment.”