Viatris Inc.

VTRS · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2005	FY2004	FY2003
Valuation
Market cap	$14,340	$14,860	$12,992	$13,497	$16,363	$22,664	$10,382	$14,152	$22,652	$19,857	$26,894	$22,389	$17,121	$11,398	$9,246	$6,856	$5,624	$3,010	$3,616	$5,368	$4,766	$6,113
Enterprise value	$27,678	$28,393	$30,335	$31,730	$38,982	$47,942	$22,721	$27,525	$36,833	$34,248	$32,912	$30,640	$24,863	$16,794	$14,140	$11,585	$10,358	$7,633	$8,331	$5,539	$3,979	$5,437
P/E (TTM) at period end	–	–	237.52×	6.49×	–	–	617.96×	40.15×	32.55×	41.37×	31.73×	24.09×	27.45×	17.78×	17.22×	19.86×	24.18×	–	–	29.09×	23.41×	18.27×
P/S (TTM) at period end	1.00×	1.01×	0.84×	0.83×	0.91×	1.90×	0.91×	1.24×	1.90×	1.79×	2.85×	2.90×	2.48×	1.68×	1.51×	1.26×	1.10×	0.59×	1.24×	4.27×	3.80×	4.45×
P/B at period end	0.97×	0.80×	0.63×	0.64×	0.80×	0.99×	–	1.16×	1.70×	1.79×	2.75×	6.88×	5.82×	3.41×	2.65×	1.90×	1.80×	1.09×	1.06×	6.81×	2.58×	3.68×
EV / EBITDA (TTM)	204.72×	9.78×	8.65×	6.83×	8.72×	23.91×	8.31×	9.13×	11.36×	15.41×	13.20×	15.97×	15.05×	10.14×	9.33×	10.12×	11.20×	10.55×	14.31×	16.57×	11.46×	10.08×
EV / Sales (TTM)	1.94×	1.93×	1.97×	1.95×	2.18×	4.01×	2.00×	2.41×	3.09×	3.09×	3.49×	3.97×	3.60×	2.47×	2.31×	2.13×	2.03×	1.49×	2.87×	4.41×	3.17×	3.95×
Returns
Return on equity	(23.9%)	(3.4%)	0.3%	9.9%	(6.2%)	(2.9%)	–	2.9%	5.2%	4.3%	8.7%	28.5%	21.2%	19.2%	15.4%	9.6%	7.4%	(7.1%)	(44.6%)	23.4%	11.0%	20.2%
Return on invested capital	(9.1%)	0.0%	0.5%	3.0%	(0.1%)	(0.4%)	0.6%	3.5%	4.0%	2.7%	8.5%	11.2%	8.9%	10.2%	9.8%	8.4%	6.6%	4.0%	4.5%	14.6%	11.4%	20.6%
Dividend yield	3.9%	3.9%	4.4%	4.3%	2.4%	–	–	–	–	–	–	–	–	–	–	2.0%	–	–	0.4%	0.9%	0.7%	0.4%
Financial health
Current ratio	1.38×	1.65×	1.67×	1.58×	1.10×	1.22×	1.21×	1.39×	1.13×	1.49×	1.57×	1.21×	1.51×	1.78×	1.39×	1.97×	1.91×	2.06×	1.53×	4.49×	6.23×	7.23×
Debt / equity	0.98×	0.75×	0.89×	0.91×	1.05×	1.08×	–	1.14×	1.10×	1.39×	0.75×	2.61×	2.73×	1.72×	1.52×	1.51×	1.65×	1.90×	1.54×	0.88×	0.01×	0.01×
Effective tax rate	4.1%	(1.8%)	73.0%	26.1%	(91.0%)	7.1%	89.1%	(18.1%)	22.9%	(294.4%)	7.4%	4.2%	16.2%	20.0%	17.7%	2.9%	(9.2%)	(179.6%)	(5.6%)	32.8%	34.8%	34.7%
Share count
Diluted shares outstanding	1,172	1,193	1,207	1,217	1,209	601	516	516	537	520	497	398	394	420	439	329	307	304	257	234	274	276

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2005	FY2004	FY2003
Revenue and gross profit
Revenue	$14,737	$14,300	$14,739	$15,427	$16,263	$17,886	$11,946	$11,370	$11,434	$11,908	$11,077	$9,429	$7,720	$6,909	$6,796	$6,130	$5,451	$5,093	$5,138	$2,905	$1,257	$1,253	$1,375
Cost of revenue	($9,604)	($9,286)	($9,116)	($8,988)	($9,766)	($12,311)	($8,149)	($7,603)	($7,432)	($7,125)	($6,380)	($5,213)	($4,192)	($3,869)	($3,888)	($3,566)	($3,233)	($3,018)	($3,067)	($1,739)	($630)	($630)	($612)
Gross profit	$5,133	$5,014	$5,624	$6,439	$6,497	$5,576	$3,797	$3,898	$4,002	$4,783	$4,697	$4,216	$3,528	$3,040	$2,908	$2,563	$2,217	$2,074	$2,070	$1,166	$628	$624	$762
Operating expenses
Research and development	($1,070)	($966)	($809)	($805)	($662)	($751)	($555)	($640)	($704)	($783)	($827)	($672)	($582)	($508)	($401)	($295)	($282)	($275)	($317)	($195)	($102)	($88)	($101)
Selling, general and administrative	($3,981)	($3,794)	($4,105)	($4,070)	($4,179)	($4,529)	($3,345)	($2,564)	($2,441)	($2,576)	($2,498)	($2,181)	($1,626)	($1,408)	($1,392)	($1,215)	($1,087)	($1,050)	($1,053)	($599)	($225)	($259)	($202)
Total operating expenses	($5,220)	($7,677)	($5,614)	($5,672)	($4,882)	($5,610)	($4,008)	($3,182)	($3,096)	($3,346)	($3,998)	($2,755)	($2,175)	($1,905)	($1,799)	($1,558)	($1,496)	($1,551)	($1,772)	($794)	($340)	($321)	($268)
Total costs and expenses	($14,825)	($16,963)	($14,729)	($14,661)	($14,648)	($17,920)	($12,157)	($10,655)	($10,528)	($10,470)	($10,378)	($7,968)	($6,367)	($5,774)	($5,687)	($5,124)	($4,729)	($4,569)	($4,840)	($2,533)	($970)	($951)	($880)
Operating income	($87)	($2,663)	$10	$766	$1,615	($34)	($211)	$716	$906	$1,437	$699	$1,461	$1,353	$1,136	$1,109	$1,005	$722	$523	$298	$372	$287	$302	$495
Earnings
EBITDA	$2,716	$135	$2,903	$3,507	$4,642	$4,472	$2,005	$2,735	$3,016	$3,243	$2,222	$2,493	$1,919	$1,652	$1,656	$1,516	$1,144	$925	$723	$582	$334	$347	$539
Interest income	–	–	–	–	–	–	–	–	–	–	$12	–	–	–	–	–	–	$7	–	–	–	–	–
Interest expense	($480)	($471)	($550)	($573)	($592)	($636)	($498)	($517)	($542)	($535)	($455)	($336)	($333)	($313)	($319)	($333)	($278)	($267)	($381)	($239)	($31)	–	–
Pre-tax income	($662)	($3,665)	($623)	$203	$2,813	($664)	($721)	$154	$298	$903	$122	$915	$974	$747	$804	$655	$356	$227	($72)	($1,441)	$275	$312	$513
Income tax expense	$252	$150	($11)	($148)	($735)	($605)	$51	($138)	$54	($207)	$358	($68)	($41)	($121)	($161)	($116)	($10)	$21	($129)	($80)	($90)	($109)	($178)
Net income	($411)	($3,515)	($634)	$55	$2,079	($1,269)	($670)	$17	$352	$696	$480	$848	$929	$624	$641	$537	$345	$233	($196)	($1,517)	$185	$204	$335
Per share
Diluted EPS (GAAP)	($0.36)	($3.00)	($0.53)	$0.05	$1.71	($1.05)	($1.11)	$0.03	$0.68	$1.30	$0.92	$1.70	$2.34	$1.58	$1.52	$1.22	$0.68	$0.30	($0.64)	($5.90)	$0.79	$0.74	$1.21
Basic EPS (GAAP)	($0.36)	($3.00)	($0.53)	$0.05	$1.71	($1.05)	($1.11)	$0.03	$0.69	$1.30	$0.94	$1.80	$2.49	$1.63	$1.54	$1.25	$0.69	$0.31	($0.64)	($5.90)	$0.80	$0.76	$1.24
Basic shares outstanding	1,159	1,172	1,193	1,200	1,212	1,209	601	516	514	535	520	497	397	394	415	431	324	305	304	257	229	269	269
Margins
Gross margin	34.8%	35.1%	38.2%	41.7%	40.0%	31.2%	31.8%	34.3%	35.0%	40.2%	42.4%	44.7%	45.7%	44.0%	42.8%	41.8%	40.7%	40.7%	40.3%	40.1%	49.9%	49.7%	55.5%
Operating margin	(0.6%)	(18.6%)	0.1%	5.0%	9.9%	(0.2%)	(1.8%)	6.3%	7.9%	12.1%	6.3%	15.5%	17.5%	16.4%	16.3%	16.4%	13.2%	10.3%	5.8%	12.8%	22.9%	24.1%	36.0%
Net margin	(2.8%)	(24.6%)	(4.3%)	0.4%	12.8%	(7.1%)	(5.6%)	0.1%	3.1%	5.8%	4.3%	9.0%	12.0%	9.0%	9.4%	8.8%	6.3%	4.6%	(3.8%)	(52.2%)	14.7%	16.2%	24.3%

Analyst consensus

Hold13 analysts

Bearish · 1 · Hold · 7 · Bullish · 5

Earnings history

	EPS	Estimate
Q3 2024	$0.75	$0.68	Beat
Q4 2024	$0.54	$0.61	Miss
Q1 2025	$0.50	$0.49	Beat
Q2 2025	$0.62	$0.56	Beat
Q3 2025	$0.67	$0.62	Beat
Q4 2025	$0.57	$0.53	Beat
Q1 2026	$0.59	$0.50	Beat
Q2 2026	$0.69	$0.60	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOScott Andrew Smith

Employees30,000

SectorHealthcare

IndustryDrug Manufacturers - Specialty & Generic

CountryUS

ExchangeNASDAQ Global Select

Websitewww.viatris.com

Viatris Inc. operates as a global pharmaceutical and healthcare enterprise. Its business is structured across four primary geographic divisions: Developed Markets, Greater China, JANZ (Japan, Australia, New Zealand), and Emerging Markets. The company offers a comprehensive range of pharmaceutical products, encompassing branded prescription medications, generic and complex generic drugs, biosimilar treatments, and active pharmaceutical ingredients (APIs). These offerings target diverse therapeutic areas, addressing both noncommunicable and infectious diseases. Its biosimilars specifically focus on critical conditions in oncology, immunology, endocrinology, ophthalmology, and dermatology. Furthermore, Viatris's APIs are utilized across numerous drug categories, including antibacterials, central nervous system agents, antihistamines/antiasthmatics, cardiovascular, antivirals, antidiabetics, antifungals, and proton pump inhibitors. Beyond manufacturing medicines, Viatris supports patient well-being through additional services such as diagnostic clinics, educational seminars, and digital tools designed to assist with health management. Products are made available in various forms, including oral solids, injectable solutions, complex dosage formulations, and raw APIs. Viatris distributes these to a broad clientele globally, including retail pharmacies, wholesalers, government bodies, insurance providers, and institutional healthcare facilities. The distribution network involves pharmaceutical wholesalers, retail and institutional pharmacies, mail-order and e-commerce platforms, and specialty pharmacies. The company's extensive portfolio includes prominent brands like Lyrica, Lipitor, Creon, Influvac, Wixela Inhub, EpiPen auto-injector, Fraxiparine, Yupelri, Norvasc, Viagra, AMITIZA, Lipacreon, Effexor, Celebrex, and ARV. Its biosimilar franchises feature products such as Fulphila, Ogivri, Hulio, and SEMGLEE. Viatris Inc. also fosters innovation through strategic collaborations and licensing agreements with partners including Revance Therapeutics, Inc., Momenta Pharmaceuticals, Inc., Theravance Biopharma, Inc., Biocon Ltd., and Fujifilm Kyowa Kirin Biologics Co. Ltd. Founded in 1961, Viatris Inc. maintains its corporate headquarters in Canonsburg, Pennsylvania.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.