— Know what they know.
/
Not Investment Advice

VTRS

NASDAQ · USD
Viatris Inc.
Healthcare · Drug Manufacturers - Specialty & Generic
CEO Scott Andrew Smith Employees 30,000 R&D / revenue 6.8%
Last price
$18.66+2.39%last session
Market cap
$21.4B
P/E (TTM)
n/m
From 52w high
−0.1%
From 52w low
+88.1%
1-year return
+87.0%
RSI 14 · vs SMA200
69.2 · +19.7%
IS score
37.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

VTRS   SPY   XLV (sector ETF) · weekly closes
100120140160180Jan 26Apr 26Jul 26Oct 26VTRS 187XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
12
Profitability
71
Growth
49
Value
68
Momentum
15
Risk (safety)
48
Quality
36
Balance sheet
43
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
▲ Altman distress zone
Observations
Moat model: None, Efficient ScalePiotroski 7 / 9Altman Z 1.1Beta 0.882 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $809,784
Form 144 notices (12m): 2, $1.1M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+8
116 new holders, 95 closed
1,028 filers hold 91.0% · 370 added, 324 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+43
637 funds adding shares
594 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
53.9%
20-day avg 44.0%, 50-day avg 50.8%
Latest 9.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$14.3B
Revenue growth YoY−3.0%
Gross margin35.1%
Operating income−$2.7B
Operating margin-18.6%
Net income−$3.5B
Net margin-24.6%
EPS (diluted)$-3.00
Cash flow
Operating cash flow$2.3B
Capital expenditure$378.8M
Free cash flow$1.9B
FCF conversion (FCF / OCF)83.6%
Stock-based compensation$177.7M
FCF less SBC$1.8B
Buybacks$500.5M
Dividends$561.2M
Balance sheet & returns
Cash & short-term investments$1.5B
Total debt$14.5B
Net debt$13.1B
Shareholders' equity$14.7B
Goodwill & intangibles$21.9B
Debt / equity0.96
ROE (TTM)-2.8%
ROIC (TTM)-0.2%
Operating margin by fiscal year
-0.2%FY20219.9%FY20225.0%FY20230.1%FY2024-18.6%FY2025
Revenue $17.9B (FY2021) to $14.3B (FY2025), a -5.4% CAGR.

Valuation

P/E (TTM)n/m
EV / EBITDA12.6x
Price / sales1.45x
Price / FCF11.4x
FCF yield8.74%
Buyback yield2.34%
SBC / revenue1.2%
Price / book1.52x
Forward P/E FY20267.4x
Forward P/E FY20276.9x
Forward P/E FY20286.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $22.75 across 4 analysts last quarter is theirs, not ours.

VTRS vs industry median

461 companies in Drug Manufacturers - Specialty & Generic
Gross margin 34.8% 44.9% Operating margin -0.6% -18.2% Net margin -2.8% -20.6% ROIC -0.2% -0.8%
VTRS (TTM)Industry median Asset turnover 0.42 vs industry 0.40 · financial leverage 2.46

Earnings delivery

Next report 2026-11-05 · consensus EPS $0.64
75%
beat rate, 9 of 12 quarters
+6.3%
median EPS surprise
6
longest beat streak
+5-9-0+2+11-11+2+12+8+7+18+15
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-07 to 2026-08-06. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
VTRS Viatris Inc. $21.4Bn/m-2.8%-2.8%−3.0% +87.0%
ZTS Zoetis Inc. $32.8B13.0x64.4%28.0%+1.4% −44.4%
ELAN Elanco Animal Health Incorpo $11.8Bn/m-3.0%3.9%+12.0% +14.8%
TEVA Teva Pharmaceutical Industri $48.4B65.6x9.7%-13.9%+4.1% +111.4%
ALKS Alkermes plc $6.9B102.3x3.9%0.1%+10.8% +33.8%
LNTH Lantheus Holdings, Inc. $6.5B23.7x22.2%19.3%+2.3% —
AMRX Amneal Pharmaceuticals, Inc. $6.1B38.6x-395.8%7.2%+9.3% —
INDV Indivior Pharmaceuticals Inc $4.0B11.4x-152.4%35.6%+13.5% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-08Material Agreement; Other Events; Exhibits
2026-08-06Earnings Release; Other Events; Exhibits
2026-07-01Material Agreement; Financial Obligation; Exhibits
2026-06-18Material Agreement; Financial Obligation; Exhibits
2026-06-15Other Events; Exhibits
2026-05-15Shareholder Vote

Context

Shares outstanding1,148,590,864
Free float99.4%
Institutional ownership91.0%
Beta0.88
Dividend yield2.57%
Last dividend$0.12 on 2026-08-21
50 / 200-day average$16.93 / $15.57
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where VTRS sits among 29 scored companies in Drug Manufacturers - Specialty & Generic (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureVTRSIndustry medianIndustry percentileSector median
P/E (TTM) —
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 1.5x 2.3x
21st		 3.7x
Price / book 1.5x 2.3x
24th		 3.6x
Price / tangible book —
Price / free cash flow 11.4x 16.8x
35th		 21.2x
Price / operating cash flow 9.2x 12.4x
40th		 17.1x
Enterprise value $33.5B $1.6B
93rd		 $2.5B
EV / sales 2.3x 2.3x
50th		 3.8x
EV / EBITDA 12.3x 12.3x
50th		 16.2x
EV / EBIT —
EV / free cash flow 17.9x 17.0x
55th		 24.6x
Earnings yield -1.9% 1.0%
39th		 -0.3%
FCF yield 8.7% 3.2%
75th		 1.7%
Operating cash flow yield 10.9% 4.4%
71st		 2.9%
Graham number (per share) —

Profitability (TTM)

MeasureVTRSIndustry medianIndustry percentileSector median
Gross margin 34.8% 60.0%
18th		 65.1%
EBITDA margin 18.4% 15.4%
61st		 6.6%
Operating margin -0.6% 9.6%
21st		 3.5%
EBIT margin -0.6% 4.0%
39th		 2.4%
Net margin -2.8% 4.0%
43rd		 0.3%
NOPAT margin -0.5% 7.6%
21st		 2.7%
FCF margin 12.7% 7.8%
57th		 4.3%
Operating cash flow margin 15.8% 12.3%
64th		 7.1%
R&D / revenue 6.9% 6.9%
54th		 12.4%
SG&A / revenue 27.0% 29.7%
43rd		 37.9%
Stock comp / revenue 1.2% 2.6%
23rd		 4.5%
Effective tax rate 21.0% 21.0%
32nd		 21.0%

Returns on capital

MeasureVTRSIndustry medianIndustry percentileSector median
ROE (on average equity) -2.8% 6.5%
35th		 0.8%
ROA -1.1% 1.8%
43rd		 -0.3%
ROIC -0.3% 7.5%
18th		 5.5%
ROCE -0.3% 2.6%
36th		 2.3%
Return on tangible assets -0.2% 2.1%
39th		 1.7%
Cash ROIC (OCF / invested capital) 8.8% 9.0%
46th		 9.7%
Gross profitability (GP / assets) 14.6% 30.6%
11th		 29.9%
ROIC, 3-yr average -3.7% 1.3%
30th		 2.6%
ROIC, 5-yr average -1.6% 0.7%
26th		 3.2%
ROE, 5-yr average -3.1% -3.1%
50th		 -4.9%
Incremental ROIC -109.4% -4.6%
11th		 17.2%

Growth

MeasureVTRSIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 4.4% 10.8%
36th		 10.5%
Revenue growth (QoQ) 6.8% 7.4%
46th		 7.2%
Revenue CAGR, 3 yr -1.9% 9.4%
11th		 10.7%
Revenue CAGR, 5 yr -1.1% 9.0%
8th		 12.1%
Gross profit CAGR, 3 yr -6.0% 11.6%
0th		 10.6%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) —
Net income CAGR, 3 yr —
EPS growth (TTM YoY) —
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 10.5% 6.8%
61st		 18.6%
FCF CAGR, 3 yr -2.9% 11.8%
29th		 15.4%
Operating cash flow CAGR, 3 yr -2.4% 11.7%
19th		 11.9%
Book value CAGR, 3 yr -10.9% 1.6%
33rd		 2.1%
Dividend CAGR, 3 yr 0.4% 0.0%
60th		 2.2%
Sustainable growth rate —

Margin history & stability

MeasureVTRSIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 37.5% 54.3%
21st		 62.6%
Operating margin, 3-yr average -6.4% 3.7%
29th		 1.0%
Net margin, 3-yr average -10.5% -2.3%
32nd		 -2.6%
FCF margin, 3-yr average 12.4% 8.6%
64th		 3.2%
Revenue stability (0-1) 0.59 0.80
21st		 0.80
Earnings stability (0-1) 0.04 0.30
14th		 0.37
Margin stability (0-1) 0.86 0.92
29th		 0.93

Liquidity (latest quarter)

MeasureVTRSIndustry medianIndustry percentileSector median
Cash & short-term investments $1.5B $222.0M
89th		 $330.9M
Net cash (− = net debt) −$12.1B −$317.7M
7th		 $8.4M
Working capital $3.7B $376.9M
96th		 $381.1M
Current ratio 1.58 2.30
18th		 3.02
Quick ratio 0.96 1.71
18th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.24 0.81
11th		 1.43
Defensive interval (days) 362 days 377 days
32nd		 415 days

Leverage & solvency (latest quarter)

MeasureVTRSIndustry medianIndustry percentileSector median
Total debt $13.6B $581.8M
93rd		 $289.1M
Debt / equity 0.96 0.75
62nd		 0.45
Net debt / equity 0.85 0.51
62nd		 −0.13
Debt / assets 38.9% 40.2%
43rd		 24.4%
Debt / capital 48.9% 42.4%
62nd		 31.1%
Debt / EBITDA 5.02 3.59
67th		 2.62
Net debt / EBITDA 4.46 1.89
83rd		 1.42
Interest coverage (EBIT / interest) −0.2x 1.5x
38th		 2.1x
Cash interest coverage 4.9x 2.0x
65th		 3.6x
Debt payback (years of OCF) 5.8 yrs 3.7 yrs
55th		 2.7 yrs
Liabilities / assets 59.3% 66.9%
39th		 49.8%
IS credit model rating B — —
Implied credit spread (bps) 750 550
64th		 225

Efficiency

MeasureVTRSIndustry medianIndustry percentileSector median
Asset turnover 0.40 0.50
21st		 0.56
Fixed asset turnover 5.46 5.20
54th		 4.87
Inventory turnover 2.3 2.2
56th		 2.7
Receivables turnover 5.5 5.2
61st		 6.4
Days sales outstanding 67 days 70 days
39th		 57 days
Days inventory outstanding 156 days 168 days
44th		 136 days
Days payables outstanding 49 days 63 days
29th		 59 days
Cash conversion cycle (days) 174 days 175 days
46th		 70 days
Capex / revenue 3.1% 3.1%
54th		 2.6%
Capex / depreciation 0.16 0.48
25th		 0.55
Operating expense ratio 38.6% 45.8%
36th		 56.5%

Cash flow & earnings quality

MeasureVTRSIndustry medianIndustry percentileSector median
Operating cash flow / net income —
FCF / net income —
FCF / operating cash flow 80.4% 82.8%
35th		 81.2%
Capex / operating cash flow 19.6% 17.2%
65th		 18.8%
Accruals ratio -7.5% -6.0%
39th		 -5.4%
Sloan accruals ratio -4.7% -3.7%
46th		 -1.3%
Earnings quality score (0-1) —

Dividends & buybacks

MeasureVTRSIndustry medianIndustry percentileSector median
Dividend yield 2.6% 0.0%
89th		 0.0%
Dividend per share (TTM) $0.48 $0.00
89th		 $0.00
Payout ratio (dividends / net income) —
Dividends / FCF 29.8% 0.0%
80th		 0.0%
Dividend growth (YoY) -1.3% 6.2%
20th		 4.5%
Buyback yield 1.4% 0.0%
75th		 0.0%
Shareholder yield (dividends + buybacks) 4.0% 0.0%
79th		 0.0%
Share count change (YoY) -0.8% 1.2%
29th		 2.0%
Buybacks, last 5 years $1.9B $0
96th		 $0

Scores & forensic checks

MeasureVTRSIndustry medianIndustry percentileSector median
IS score 37 44
36th		 46
IS profitability 12 27
4th		 22
IS growth 71 54
68th		 60
IS value 49 40
64th		 39
IS momentum 68 66
54th		 67
IS risk (safety) 15 50
25th		 80
IS quality 48 51
39th		 49
IS balance sheet 36 42
36th		 55
IS earnings quality 43 56
32nd		 56
IS cash flow 49 41
54th		 41
Piotroski F-score (0-9) 7 5
68th		 5
Altman Z-score 1.1 2.0
36th		 3.2
Beneish M-score −2.93 −2.59
21st		 −2.62
Ohlson O-score −8.03 −6.69
21st		 −7.16
IS credit score 26 38
29th		 62

Per share

MeasureVTRSIndustry medianIndustry percentileSector median
EPS, diluted (TTM) −$0.35 $0.36
39th		 −$0.03
Book value per share $12.26 $6.62
75th		 $7.10
Tangible book per share −$5.22 −$0.97
14th		 $1.91
Revenue per share $12.67 $10.01
57th		 $9.38
FCF per share $1.61 $0.46
71st		 $0.46
Operating cash flow per share $2.00 $1.12
75th		 $0.93
Cash per share $1.30 $2.07
36th		 $3.51

Size (TTM)

MeasureVTRSIndustry medianIndustry percentileSector median
Market cap $21.4B $1.7B
93rd		 $2.4B
Revenue $14.7B $808.2M
96th		 $770.2M
EBITDA $2.7B $114.8M
96th		 $56.1M
Net income −$410.7M $14.6M
7th		 −$3.3M
Free cash flow $1.9B $83.1M
96th		 $41.2M
Total assets $35.0B $1.6B
96th		 $1.3B
Shareholders' equity $14.3B $385.5M
100th		 $568.4M
Employees 30,000 1,193
96th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Simmons David S
Director
 Award / grant 2,117——4,479
2026-09-30Groothuis Leo Frans
Director
 Award / grant 2,469——5,225
2026-08-15Enrietti Andrew
See Remarks
 Option exercise 25,134——244,811
2026-08-15Enrietti Andrew
See Remarks
 Tax withholding 10,931$16.23$177,410233,880
2026-08-15Enrietti Andrew
See Remarks
 Option exercise 999——234,879
2026-08-15Enrietti Andrew
See Remarks
 Tax withholding 435$16.23$7,060234,444
2026-08-15Enrietti Andrew
See Remarks
 Option exercise 25,134——50,267
2026-08-15Enrietti Andrew
See Remarks
 Option exercise 998——1,997
2026-06-30Simmons David S
Director
 Award / grant 2,362——2,362
2026-06-30Groothuis Leo Frans
Director
 Award / grant 2,756——2,756
2026-06-25Campbell Paul
See Remarks
 Open-market sale 50,076$16.17$809,784316,212

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired49,704—
Open-market saleDisposed150,076$809,784
Option exerciseAcquired226,133—
Option exerciseDisposed226,132—
Tax withholdingDisposed211,366$184,470
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 2 notices · 71,426 shares · $1.1M
FiledFilerShares proposedEst. proceeds
2026-06-25Paul Campbell50,076$809,678
2026-03-23Paul Campbell21,350$283,508
2025-09-11Le Goff Corinne7,032$72,045
2024-11-12Campbell Paul26,925$346,686
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 2 trades (2 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2025-11-18Gilbert CisnerosHousePurchase$1,001 - $15,0002025-12-15
2025-11-17Gilbert Ray CisnerosHousePurchase$1,001 - $15,0002025-12-15
2025-04-22John FettermanSenateSale$1,001 - $15,0002025-05-15
2025-04-22John Karl FettermanSenateSale$1,001 - $15,0002025-05-15
2025-04-08Rob BresnahanHouseSale (Full)$1,001 - $15,0002025-05-08
2025-04-07Robert P. BresnahanHouseSale (Full)$1,001 - $15,0002025-05-08
2022-08-01Tommy TubervilleSenateSale (Full)$1,001 - $15,0002022-09-15
2022-08-01Tommy TubervilleSenateSale (Full)$1,001 - $15,0002022-09-14
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
FMR LLC96,662,102$1.5B8.42%
BlackRock, Inc.86,019,468$1.4B7.49%
VANGUARD CAPITAL MANAGEMENT LLC76,046,939$1.2B6.62%
DAVIS SELECTED ADVISERS75,232,254$1.2B6.55%
PRICE T ROWE ASSOCIATES INC /MD/68,214,436$1.1B5.94%
VANGUARD PORTFOLIO MANAGEMENT LLC54,282,080$862.0M4.73%
STATE STREET CORP53,069,461$842.7M4.62%
Rubric Capital Management LP34,168,743$542.6M2.97%
GEODE CAPITAL MANAGEMENT, LLC32,807,906$520.1M2.86%
DIMENSIONAL FUND ADVISORS LP29,970,094$476.0M2.61%
Invesco Ltd.20,771,275$329.8M1.81%
AMERIPRISE FINANCIAL INC18,815,747$298.8M1.64%
Bank of New York Mellon Corp14,140,383$224.5M1.23%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC13,566,895$215.4M1.18%
Sixth Street Partners Management Company, L.P.13,566,895$215.4M1.18%

Institutional ownership by quarter

2023-092026-0691.0%
% of shares held by 13F filers
2023-092026-061,028
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,02891.0%11637032495
2026-03-311,02085.2%13734831696
2025-12-311,00384.0%15433232291
2025-09-3096582.6%9931535189
2025-06-3097583.9%103332360122
2025-03-311,00583.7%115299370122
2024-12-311,03085.8%15231037697
2024-09-3099482.0%8534735474
2024-06-3099584.1%9231838085
2024-03-311,00582.9%10731040394
2023-12-311,00782.4%14226142673
2023-09-3094980.8%7632436281

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-09-08SCHEDULE 13G/AAbigail P. Johnson11.0%126,764,446
2026-08-12SCHEDULE 13G/ADAVIS SELECTED ADVISERS6.5%75,232,254
2026-08-06SCHEDULE 13GAbigail P. Johnson8.3%96,362,103
2026-05-05SCHEDULE 13G/ADAVIS SELECTED ADVISERS6.8%78,211,191
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.03%$646.4M
VTSAX0.03%$646.4M
VSMPX0.03%$646.4M
VTI0.03%$646.4M
VFIAX0.03%$534.5M
VFFSX0.03%$534.5M

Share structure

Shares outstanding1,148,590,864
Float1,141,791,206
Free float99.4%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$17.9B$16.3B$15.4B$14.7B$14.3B
Cost of revenue$12.3B$9.8B$9.0B$9.1B$9.3B
Gross profit$5.6B$6.5B$6.4B$5.6B$5.0B
R&D$681.0M$662.2M$805.2M$808.7M$965.9M
SG&A$4.5B$4.2B$4.7B$4.4B$3.8B
Operating income−$34.0M$1.6B$766.2M$10.1M−$2.7B
EBITDA$4.5B$6.4B$3.5B$2.8B−$395.4M
Pretax income−$664.4M$2.8B$202.9M−$623.2M−$3.7B
Income tax$604.7M$734.6M$148.2M$11.0M−$150.1M
Net income−$1.3B$2.1B$54.7M−$634.2M−$3.5B
EPS, diluted$-1.05$1.71$0.05$-0.53$-3.00
Diluted shares1.2B1.2B1.2B1.2B1.2B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$935.0M$1.5B$1.2B$1.1B$1.5B
Receivables$4.3B$4.1B$4.0B$3.5B$3.3B
Inventory$4.0B$3.5B$3.5B$3.9B$4.0B
Total current assets$10.9B$10.6B$13.0B$9.5B$9.2B
PP&E, net$3.5B$3.3B$3.0B$2.9B$2.9B
Goodwill & intangibles$38.2B$33.0B$29.0B$26.2B$21.9B
Total assets$54.8B$50.0B$47.7B$41.5B$37.2B
Accounts payable$1.1B$1.2B$1.4B$1.4B$1.3B
Total current liabilities$9.9B$6.7B$7.8B$5.8B$7.1B
Long-term debt$19.7B$18.0B$16.2B$14.0B$12.5B
Total liabilities$34.4B$28.9B$27.2B$22.9B$22.5B
Shareholders' equity$20.5B$21.1B$20.5B$18.6B$14.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$1.3B$2.1B$54.7M−$634.2M−$3.5B
Depreciation & amortization$4.5B$3.0B$2.7B$2.7B$2.8B
Stock-based compensation$111.2M$116.4M$180.7M$146.1M$177.7M
Change in working capital−$1.8B−$922.6M−$711.3M−$318.6M−$2.5B
Operating cash flow$3.0B$3.0B$2.8B$2.3B$2.3B
Capital expenditure−$509.4M−$489.4M−$474.5M−$326.0M−$378.8M
Free cash flow$2.5B$2.5B$2.3B$2.0B$1.9B
Investing cash flow−$117.8M$1.5B−$764.1M$1.8B−$427.7M
Net debt issued / repaid−$2.1B−$3.3B−$1.2B−$3.7B$0
Buybacks−$17.4M$0−$250.0M−$250.0M−$500.5M
Dividends paid−$399.0M−$581.6M−$575.6M−$574.8M−$561.2M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin31.2%40.0%41.7%38.2%35.1%
Operating margin-0.2%9.9%5.0%0.1%-18.6%
Net margin-7.1%12.8%0.4%-4.3%-24.6%
FCF margin14.1%15.4%15.1%13.3%12.7%
ROE-5.8%10.0%0.3%-3.2%-21.1%
ROIC-0.1%3.0%0.5%0.0%-7.5%
ROA-2.2%4.0%0.1%-1.4%-8.9%
Debt / equity1.140.930.900.771.00
Interest coveragen/m5.7x1.4xn/mn/m
Current ratio1.101.581.671.651.30
Revenue growth+49.7%−9.1%−5.1%−4.5%−3.0%
EPS growth−33.8%+262.2%−97.3%−1,266.0%−473.8%
P/E at year endn/m5.7x217.2xn/mn/m
EV / EBITDA at year end8.1x4.6x8.3x9.7xn/m
FCF yield at year end18.43%21.20%19.57%13.83%12.69%
Dividend payout—28.0%1,052.3%——

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Brands$10.8B$9.9B$9.8B$9.2B$9.2B
Generics$5.6B$5.0B$5.6B$5.5B$5.1B
Complex GX and Biosimilars$1.3B$1.3B———

Revenue by region · FY2025

Developed Markets Segment$8.6B · 60%
Greater China Segment$2.3B · 16%
Emerging Markets Segment$2.2B · 16%
Japan, Australia and New Zealand Segment$1.2B · 8%

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $0.64 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$14.8B$14.8B – $14.8B$2.52$2.47 – $2.5677.4x
2027$15.0B$14.9B – $15.4B$2.69$2.60 – $2.8076.9x
2028$15.5B$15.2B – $15.8B$2.87$1.85 – $4.0236.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-06$0.60$0.69+14.8%$3.7B$3.8B+2.2%
2026-05-07$0.50$0.59+17.5%$3.4B$3.5B+4.8%
2026-02-26$0.53$0.57+7.1%$3.5B$3.7B+4.8%
2025-11-06$0.62$0.67+7.9%$3.6B$3.8B+3.8%
2025-08-07$0.56$0.62+11.5%$3.5B$3.6B+3.3%
2025-05-08$0.49$0.50+1.6%$3.2B$3.3B+0.6%
2025-02-27$0.61$0.54−11.5%$3.6B$3.5B−2.0%
2024-11-07$0.68$0.75+10.8%$3.7B$3.7B+0.6%
2024-08-08$0.68$0.69+1.8%$3.8B$3.8B+0.4%
2024-05-09$0.67$0.67−0.4%$3.7B$3.7B−0.7%
2024-02-28$0.67$0.61−9.0%$3.9B$3.8B−0.8%
2023-11-07$0.74$0.78+5.4%$3.9B$3.9B+1.9%
2023-08-07$0.71$0.75+5.6%$3.9B$3.9B+1.4%
2023-05-08$0.69$0.78+13.0%$3.8B$3.7B−2.1%
2023-02-27$0.72$0.67−6.9%$4.0B$3.9B−2.9%
2022-11-07$0.82$0.86+4.9%$4.1B$4.1B−1.4%
2022-08-08$0.81$0.88+8.6%$4.2B$4.1B−1.6%
2022-05-09$0.81$0.93+14.8%$4.2B$4.2B−1.0%
2022-02-28$0.82$0.80−2.4%$4.3B$4.3B−0.1%
2021-11-08$0.86$0.99+15.1%$4.4B$4.5B+3.3%
2021-08-09$0.88$0.98+11.4%$4.4B$4.6B+4.6%
2021-05-10$0.79$0.92+16.5%$3.8B$4.4B+17.6%
2021-03-01$1.24$0.94−24.2%—$3.6B—
2020-11-06$1.16$1.31+12.9%$2.6B$3.0B+13.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.106-150.106-220.206-290.107-060.207-130.207-200.207-270.308-030.208-100.108-170.108-240.108-31
Week ofNotionalSharesTrades
2026-08-31$116.1M6,927,90883,178
2026-08-24$124.4M7,453,62078,464
2026-08-17$114.7M7,052,63881,388
2026-08-10$193.2M11,888,517112,636
2026-08-03$257.0M15,063,324122,043
2026-07-27$197.1M11,128,955108,032

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1553.9%
DateShort shareShort volumeTotal volume
2026-10-1553.9%1,890,7733,507,822
2026-10-1450.7%2,056,3904,057,474
2026-10-1342.4%1,316,0963,100,883
2026-10-1241.1%1,327,2573,227,976
2026-10-0949.6%2,159,4514,351,180
2026-10-0851.0%3,567,9757,000,062
2026-10-0737.8%1,099,8732,906,164
2026-10-0644.0%1,245,9952,831,190
2026-10-0553.0%1,108,2442,092,913
2026-10-0254.6%1,953,9253,578,264
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.0Jan-2.9Feb-2.4Mar+0.5Apr-1.1May-2.2Jun+0.7Jul-0.7Aug-3.5Sep+1.2Oct+4.1Nov+3.8Dec
MonthAvg returnUp yearsYears
Jan+2.0%60%20
Feb−2.9%45%20
Mar−2.4%43%21
Apr+0.5%35%20
May−1.1%50%20
Jun−2.2%40%20
Jul+0.7%65%20
Aug−0.7%50%20
Sep−3.5%30%20
Oct+1.2%60%20
Nov+4.1%65%20
Dec+3.8%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1469.2
MFI53.2
ADX21.0
Stochastic %K / %D73.8 / 52.0
Williams %R-0.6
CCI218
TSI / signal19.1 / 15.6
Chaikin money flow0.11
ATR$0.50
Bollinger width9.0%
Volume vs 20-day avg1.03x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$17.63 (+5.8%)
SMA 50$16.96 (+10.0%)
SMA 200$15.58 (+19.7%)
EMA 21$17.57 (+6.2%)
EMA 50$17.19 (+8.5%)
EMA 200$15.45 (+20.7%)
Bollinger upper$18.43 (+1.2%)
Bollinger lower$16.84 (+10.8%)
Parabolic SAR$16.92 (+10.3%)
Open the live chart, 110+ indicators

About Viatris Inc.

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.

https://www.viatris.com

Key executives

NameTitlePayBorn
Scott Andrew SmithChief Executive Officer & Director$5.1M1962
Paul CampbellInterim CFO, Chief Accounting Officer & Corporate Controller$3.7M1967
Corinne Le GoffChief Commercial Officer$2.3M1965
Matthew Joseph MalettaChief Legal Officer$2.2M1972
Andrew EnriettiChief Administrative & Transformation Officer$1.9M1985
Peter McCormickChief Supply Officer——
Philippe MartinChief R&D Officer—1976
Ramkumar V. RayapureddyChief Information Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Scott A. Smith Chief Executive Officer2025$1.4M$10.2M$3.0M$15.3M
Corinne Le Goff Chief Commercial Officer2025$899,327$3.6M$1.2M$5.9M
Doretta Mistras Chief Financial Officer2025$849,327$3.4M$1.2M$5.6M
Brian Roman Former Chief Legal Officer2025$849,327$2.6M$1.2M$4.8M
Andrew Enrietti Chief Administrative and Transformation Officer2025$684,904$2.4M$1.1M$4.3M

Employees

45k202037k202137k202238k202332k202430k2025

Dividends

Ex-dateAmountPaid
2026-08-21$0.122026-09-16
2026-05-22$0.122026-06-17
2026-03-09$0.122026-03-18
2025-11-24$0.122025-12-15
2025-08-22$0.122025-09-15
2025-05-23$0.122025-06-16
2025-03-10$0.122025-03-18
2024-11-22$0.122024-12-13

Moat model

None · Efficient Scale · 2026-06-30
Cost advantage42
Intangibles22
Switching costs27
Network effect35
Efficient scale65
Our component scores (0-100) and overall 35.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms