Viatris (VTRS)
Health Care · $19.9B market cap · SEC CIK 0001792044
fundamentals score out of 100
Next reports on Nov 4, 2026, with analysts expecting $0.66 in earnings per share.
The case for VTRS
- Free cash flow of 9.8% of its market value a year: a lot of cash for the price.
- Pays a 2.7% dividend while you wait.
- Trades at 1.30× book value, close to what the balance sheet says it owns.
- Up 72.7% over the past year.
The case against
- Losing money over the last year: net margin -2.8%, return on equity -3%.
- Long-term debt of $12.5B would take 5 years of operating cash flow to repay.
- Pays a dividend while losing money over the last twelve months.
- Growth is weak (33/100): revenue +4.4%, +3.7% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Health Care companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 51 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 33 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 16 |
| Momentumhow the price has behaved lately | 84 |
| Stabilityhow violently it moves, what it owes and what it pays you | 40 |
- It is losing money, so it has no P/E; that counts against value rather than being skipped.
- Each factor except momentum is half fixed thresholds, half rank among the 59 Health Care companies.
Key numbers
| Price / earnings | n/a |
|---|---|
| Price / book | 1.30× |
| Price / sales | 1.3× |
| Revenue growth (YoY) | +4.4% |
| EPS growth (YoY) | — |
| Gross margin | 40% |
| Operating margin | -1% |
| Net margin | -3% |
| Return on equity | -3% |
| Debt / equity | 0.94× |
| Current ratio | 1.58 |
| Dividend yield | 2.70% |
| Beta | 0.92 |
| 52-week range | $9.43 – $18.39 |
| Position in that range | 86% of the way up |
| 3-month return | +11.3% |
| 1-year return | +72.7% |
Five years of financials, as filed
Pulled from Viatris's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $14.3B | $14.7B | $15.4B | $16.2B | $17.8B |
| Gross profit | $5.0B | $5.6B | $6.4B | $6.5B | $5.6B |
| Operating income | -$2.7B | $10.1M | $766M | $1.6B | -$34.0M |
| Operating cash flow | $2.3B | $2.3B | $2.9B | $3.0B | $3.0B |
| Capital expenditure | $379M | $326M | $377M | $406M | $457M |
| Total assets | $37.2B | $41.5B | $47.7B | $50.0B | $54.8B |
| Total liabilities | $22.5B | $22.9B | $27.2B | $28.9B | $34.4B |
| Cash | $1.3B | $735M | $992M | $1.3B | $701M |
| Long-term debt | $12.5B | $14.0B | $16.2B | $18.0B | $19.7B |
| Free cash flow | $1.9B | $2.0B | $2.5B | $2.6B | $2.6B |
| Gross margin | 35.2% | 38.3% | 41.8% | 40.1% | 31.3% |
| Operating margin | -18.7% | 0.1% | 5.0% | 10.0% | -0.2% |
| Diluted shares | — | — | 1.2B | 1.2B | 1.2B |
Share count is essentially flat over 2 years.
What Viatris says it does
About Viatris Viatris is a global healthcare company whose breadth and scale we believe make it uniquely positioned to address healthcare needs globally. With a mission to empower people worldwide to live healthier at every stage of life, Viatris supplies high-quality medicines to approximately 1 billion patients around the world each year. The Company has a global footprint, an extensive portfolio of medicines that is well-diversified across therapeutic areas, a one-of-a-kind global supply chain designed to reach more people when and where they need them, and the scientific expertise to address some of the world's most enduring health challenges. Viatris’ executive management team is focused on ensuring that the Company is optimally structured and efficiently resourced to deliver sustainable value to patients, shareholders, customers and other key stakeholders. The Company operates in more than 165 countries and territories with more…
Risk factors VTRS lists in its 10-K
- "We may not realize the intended benefits of, or achieve the intended goals or outlooks with respect to, our strategic initiatives and priorities, including divestitures, acquisitions or other potential transactions."
- "If we are unable to successfully introduce new products in a timely manner, our future revenue and profitability may be adversely affected."
- "We expend a significant amount of resources on R&D efforts that may not lead to successful product introductions."
- Viatris provides high-quality, trusted medicines, regardless of geography or circumstance
- Covers a broad range of therapeutic areas
- Helps ease the burden of noncommunicable diseases
- Viatris is working to further advance sustainable operations and innovative solutions to improve patient health and support more resilient healthcare systems
- Increasingly innovative and differentiated pipeline
- Leveraging its collective expertise to connect people to products and services
- Building for Growth Through Partnerships
- Licensing and Other Partner Agreements
- We have a limited number of manufacturing facilities and certain third-party suppliers produce a substantial portion of our API and products, some of which require a highly exacting and complex manufacturing process
- The pharmaceutical industry is heavily regulated, and we face significant costs and uncertainties associated with our efforts to comply with applicable laws and regulations
- Percentage of Consolidated Net Sales