NASDAQ : VTRS
Viatris Inc. — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · United States
Last price 19.2 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 22.05B
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Financial statements
Viatris Inc. (VTRS) reported revenue of 14.74B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 14.69B | 14.25B | 14.69B | 15.39B | 16.22B | 17.81B |
| Other Revenue | 43.50M | 49.50M | 46.50M | 38.50M | 44.60M | 72.70M |
| Revenue | 14.74B | 14.30B | 14.74B | 15.43B | 16.26B | 17.89B |
| Cost of Revenue | 8.80B | 8.64B | 8.61B | 8.81B | 9.34B | 11.88B |
| Gross Profit | 5.94B | 5.66B | 6.13B | 6.62B | 6.93B | 6.01B |
| Selling, General & Admin | 3.37B | 3.47B | 3.72B | 3.78B | 3.52B | 4.25B |
| Research & Development | 1.00B | 952.50M | 805.90M | 802.40M | 661.20M | 667.90M |
| Operating Expenses | 4.37B | 4.42B | 4.53B | 4.58B | 4.18B | 4.91B |
| Operating Income | 1.57B | 1.23B | 1.60B | 2.04B | 2.75B | 1.10B |
| Interest Expense | -480.00M | -471.30M | -553.40M | -573.10M | -592.40M | -636.20M |
| Earnings From Equity Investments | -61.90M | |||||
| Currency Exchange Gain (Loss) | -354.50M | -90.00M | 72.50M | 56.30M | -82.10M | 39.30M |
| Other Non Operating Income (Expenses) | 449.90M | 197.00M | 86.80M | 169.00M | 114.90M | 20.40M |
| EBT Excluding Unusual Items | 1.18B | 869.50M | 1.21B | 1.69B | 2.19B | 459.90M |
| Merger & Restructuring Charges | -863.30M | -734.80M | -476.70M | -407.20M | -475.70M | -234.60M |
| Impairment of Goodwill | -2.94B | -321.00M | -580.10M | -117.00M | ||
| Gain (Loss) on Sale of Investments | -143.60M | -534.80M | 188.90M | |||
| Gain (Loss) on Sale of Assets | -34.20M | -101.00M | -399.40M | -239.90M | 1.75B | |
| Asset Writedown | -73.90M | -73.90M | -177.10M | -32.00M | -173.50M | -102.80M |
| Legal Settlements | -179.30M | 68.50M | -350.90M | -111.60M | -4.40M | -329.20M |
| Other Unusual Items | -512.70M | -173.40M | -265.00M | -14.10M | -321.20M | -387.60M |
| Pretax Income | -662.20M | -3.67B | -623.20M | 202.90M | 2.81B | -664.40M |
| Income Tax Expense | -251.50M | -150.10M | 11.00M | 148.20M | 734.60M | 604.70M |
| Earnings From Continuing Operations | -410.70M | -3.51B | -634.20M | 54.70M | 2.08B | -1.27B |
| Net Income | -410.70M | -3.51B | -634.20M | 54.70M | 2.08B | -1.27B |
| Net Income to Common | -410.70M | -3.51B | -634.20M | 54.70M | 2.08B | -1.27B |
| Shares Outstanding (Basic) | 1.16B | 1.17B | 1.19B | 1.20B | 1.21B | 1.21B |
| Shares Outstanding (Diluted) | 1.16B | 1.17B | 1.19B | 1.21B | 1.22B | 1.21B |
| EPS (Basic) | -0.35 | -3.00 | -0.53 | 0.05 | 1.71 | -1.05 |
| EPS (Diluted) | -0.35 | -3.00 | -0.53 | 0.05 | 1.71 | -1.05 |
| Free Cash Flow | 1.95B | 1.94B | 1.98B | 2.52B | 2.59B | 2.56B |
| Free Cash Flow Per Share | 1.69 | 1.66 | 1.66 | 2.09 | 2.13 | 2.12 |
| Dividend Per Share | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.45 |
| Gross Margin | 40.31% | 39.55% | 41.60% | 42.91% | 42.59% | 33.61% |
| Operating Margin | 10.64% | 8.63% | 10.86% | 13.23% | 16.89% | 6.14% |
| Profit Margin | -2.79% | -24.58% | -4.30% | 0.36% | 12.78% | -7.09% |
| Free Cash Flow Margin | 13.26% | 13.55% | 13.41% | 16.36% | 15.94% | 14.31% |
| EBITDA | 4.29B | 3.96B | 4.31B | 4.72B | 5.60B | 5.50B |
| EBITDA Margin | 29.13% | 27.68% | 29.23% | 30.60% | 34.44% | 30.76% |
| D&A For EBITDA | 2.72B | 2.72B | 2.71B | 2.68B | 2.85B | 4.40B |
| EBIT | 1.57B | 1.23B | 1.60B | 2.04B | 2.75B | 1.10B |
| EBIT Margin | 10.64% | 8.63% | 10.86% | 13.23% | 16.89% | 6.14% |
| Effective Tax Rate | 73.04% | 26.11% | ||||
| Revenue as Reported | 14.74B | 14.30B | 14.74B | 15.43B | 16.26B | 17.89B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 886.50M | 1.32B | 734.80M | 991.90M | 1.26B | 701.20M |
| Short-Term Investments | 624.00M | 190.60M | 355.10M | 192.50M | 212.60M | 89.20M |
| Cash & Short-Term Investments | 1.51B | 1.51B | 1.09B | 1.18B | 1.47B | 790.40M |
| Accounts Receivable | 2.58B | 2.58B | 2.68B | 2.82B | 3.24B | 3.77B |
| Other Receivables | 1.09B | 769.50M | 846.70M | 1.54B | 899.10M | 492.00M |
| Receivables | 3.67B | 3.35B | 3.52B | 4.36B | 4.14B | 4.27B |
| Inventory | 3.93B | 4.00B | 3.85B | 3.47B | 3.52B | 3.98B |
| Prepaid Expenses | 192.10M | 225.40M | 140.90M | 155.90M | 194.60M | 256.70M |
| Other Current Assets | 750.40M | 704.50M | 913.80M | 3.80B | 1.31B | 1.61B |
| Total Current Assets | 10.06B | 9.79B | 9.52B | 12.98B | 10.64B | 10.90B |
| Property, Plant & Equipment | 2.70B | 2.89B | 2.92B | 3.01B | 3.28B | 3.48B |
| Long-Term Investments | 815.00M | 1.35B | 1.14B | 94.00M | 81.40M | |
| Goodwill | 6.65B | 6.75B | 9.13B | 9.87B | 10.43B | 12.11B |
| Other Intangible Assets | 13.68B | 15.10B | 17.07B | 19.18B | 22.61B | 26.13B |
| Long-Term Deferred Tax Assets | 1.16B | 1.06B | 753.00M | 692.90M | 925.90M | 1.33B |
| Other Long-Term Assets | 801.10M | 785.60M | 754.00M | 821.10M | 2.05B | 798.50M |
| Total Assets | 35.04B | 37.19B | 41.50B | 47.69B | 50.02B | 54.84B |
| Accounts Payable | 1.73B | 1.75B | 1.85B | 1.94B | 1.77B | 1.66B |
| Accrued Expenses | 1.85B | 2.15B | 2.24B | 2.15B | 2.01B | 2.91B |
| Short-Term Debt | 1.49B | |||||
| Current Portion of Long-Term Debt | 1.74B | 1.93B | 600.00K | 1.93B | 1.25B | 1.86B |
| Current Portion of Leases | 115.30M | 109.40M | 87.10M | 83.00M | 80.60M | 86.70M |
| Current Income Taxes Payable | 124.00M | 192.70M | 226.80M | 279.60M | 236.90M | |
| Other Current Liabilities | 920.60M | 1.03B | 1.40B | 1.44B | 1.36B | 1.64B |
| Total Current Liabilities | 6.35B | 7.09B | 5.78B | 7.78B | 6.75B | 9.88B |
| Long-Term Debt | 11.61B | 12.48B | 14.04B | 16.19B | 18.02B | 19.72B |
| Long-Term Leases | 159.80M | 178.10M | 179.30M | 165.40M | 181.40M | 200.90M |
| Pension & Post-Retirement Benefits | 413.60M | 425.90M | 467.90M | 504.30M | 544.60M | 876.40M |
| Long-Term Deferred Tax Liabilities | 802.80M | 892.00M | 1.11B | 1.74B | 2.43B | 2.81B |
| Other Long-Term Liabilities | 1.45B | 1.41B | 1.29B | 847.20M | 1.03B | 856.30M |
| Total Liabilities | 20.78B | 22.48B | 22.87B | 27.22B | 28.95B | 34.35B |
| Common Stock | 12.60M | 12.50M | 12.30M | 12.20M | 12.10M | 12.10M |
| Additional Paid-In Capital | 18.56B | 18.80B | 18.92B | 18.81B | 18.65B | 18.54B |
| Retained Earnings | -330.70M | -388.30M | 3.42B | 4.64B | 5.18B | 3.69B |
| Treasury Stock | -1.16B | -1.01B | -504.30M | -251.80M | ||
| Comprehensive Income & Other | -2.82B | -2.71B | -3.21B | -2.75B | -2.76B | -1.74B |
| Total Common Equity | 14.26B | 14.71B | 18.64B | 20.47B | 21.07B | 20.49B |
| Shareholders' Equity | 14.26B | 14.71B | 18.64B | 20.47B | 21.07B | 20.49B |
| Total Liabilities & Equity | 35.04B | 37.19B | 41.50B | 47.69B | 50.02B | 54.84B |
| Total Debt | 13.62B | 14.70B | 14.31B | 18.37B | 19.53B | 23.36B |
| Net Cash (Debt) | -12.11B | -13.19B | -13.22B | -17.19B | -18.06B | -22.57B |
| Net Cash Per Share | -10.45 | -11.26 | -11.08 | -14.24 | -14.83 | -18.67 |
| Filing Date Shares Outstanding | 1.15B | 1.15B | 1.19B | 1.19B | 1.20B | 1.21B |
| Total Common Shares Outstanding | 1.16B | 1.15B | 1.19B | 1.20B | 1.21B | 1.21B |
| Working Capital | 3.71B | 2.69B | 3.74B | 5.20B | 3.89B | 1.02B |
| Book Value Per Share | 12.34 | 12.78 | 15.61 | 17.05 | 17.36 | 16.94 |
| Tangible Book Value | -6.07B | -7.15B | -7.57B | -8.58B | -11.96B | -17.76B |
| Tangible Book Value Per Share | -5.26 | -6.21 | -6.34 | -7.15 | -9.85 | -14.68 |
| Land | 106.00M | 114.90M | 113.20M | 120.20M | 133.40M | 137.90M |
| Buildings | 1.54B | 1.53B | 1.46B | 1.44B | 1.54B | 1.81B |
| Machinery | 3.06B | 3.04B | 2.89B | 2.77B | 2.94B | 3.05B |
| Construction In Progress | 406.90M | 448.50M | 397.10M | 431.20M | 474.00M | 588.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -410.70M | -3.51B | -634.20M | 54.70M | 2.08B | -1.27B |
| Depreciation & Amortization | 2.72B | 2.72B | 2.71B | 2.68B | 2.85B | 4.40B |
| Loss (Gain) From Sale of Assets | 34.20M | 101.00M | 407.00M | 271.90M | -1.58B | |
| Asset Writedown & Restructuring Costs | 115.10M | 3.06B | 510.40M | 680.50M | 47.00M | 102.80M |
| Loss (Gain) on Equity Investments | 61.90M | |||||
| Stock-Based Compensation | 172.30M | 177.70M | 146.10M | 180.70M | 116.40M | 111.20M |
| Other Operating Activities | 227.70M | 452.60M | -516.40M | -255.70M | 406.70M | 1.41B |
| Change in Accounts Receivable | -76.60M | 334.60M | 300.10M | 78.60M | -240.30M | 59.30M |
| Change in Inventory | -96.20M | -106.40M | -723.40M | -613.30M | -259.50M | -427.60M |
| Change in Accounts Payable | 33.20M | -168.00M | 36.00M | 314.70M | 170.20M | -70.40M |
| Change in Income Taxes | -168.80M | -112.90M | 219.30M | -76.70M | 25.30M | -699.60M |
| Change in Other Net Operating Assets | -224.00M | -633.70M | -150.60M | -414.60M | -618.30M | -666.50M |
| Operating Cash Flow | 2.33B | 2.32B | 2.30B | 2.90B | 3.00B | 3.02B |
| Capital Expenditures | -376.00M | -378.80M | -326.00M | -377.00M | -406.00M | -457.20M |
| Sale of Property, Plant & Equipment | 34.30M | 37.40M | 2.51B | 378.10M | 1.96B | 115.00M |
| Cash Acquisitions | -350.00M | -667.70M | 277.00M | |||
| Sale (Purchase) of Intangibles | -142.60M | -86.30M | -33.10M | -197.90M | -83.40M | -52.20M |
| Investment in Securities | 400.00M | -300.00K | -400.00K | |||
| Investing Cash Flow | -84.30M | -427.70M | 1.80B | -864.50M | 1.47B | -117.80M |
| Short-Term Debt Issued | 200.00K | 300.00K | 392.10M | |||
| Long-Term Debt Issued | 300.00K | 1.88B | 1.71B | |||
| Total Debt Issued | 1.30B | 200.00K | 600.00K | 1.88B | 2.10B | |
| Short-Term Debt Repaid | -1.49B | |||||
| Long-Term Debt Repaid | -100.00K | -3.71B | -1.25B | -3.66B | -4.20B | |
| Total Debt Repaid | -2.23B | -100.00K | -3.71B | -1.25B | -5.16B | -4.20B |
| Net Debt Issued (Repaid) | -923.50M | 100.00K | -3.71B | -1.25B | -3.28B | -2.10B |
| Issuance of Common Stock | 2.50M | 2.60M | 2.50M | 3.10M | 3.30M | |
| Repurchase of Common Stock | -357.60M | -530.70M | -303.30M | -288.20M | -17.30M | -17.40M |
| Common Dividends Paid | -557.50M | -561.20M | -574.80M | -575.60M | -581.60M | -399.00M |
| Other Financing Activities | -74.80M | -204.70M | 258.90M | -191.60M | -2.20M | -496.50M |
| Financing Cash Flow | -1.91B | -1.29B | -4.33B | -2.30B | -3.88B | -3.01B |
| Foreign Exchange Rate Adjustments | -13.40M | 17.60M | -30.70M | -2.50M | -38.90M | -30.90M |
| Net Cash Flow | 322.20M | 611.90M | -257.50M | -268.90M | 556.30M | -143.80M |
| Free Cash Flow | 1.95B | 1.94B | 1.98B | 2.52B | 2.59B | 2.56B |
| Free Cash Flow Margin | 13.26% | 13.55% | 13.41% | 16.36% | 15.94% | 14.31% |
| Free Cash Flow Per Share | 1.69 | 1.66 | 1.66 | 2.09 | 2.13 | 2.12 |
| Levered Free Cash Flow | 2.68B | 2.43B | 6.44B | 918.30M | 3.75B | 5.45B |
| Unlevered Free Cash Flow | 2.98B | 2.73B | 6.79B | 1.28B | 4.12B | 5.85B |
| Cash Interest Paid | 492.60M | 492.60M | 561.10M | 611.60M | 642.50M | 684.80M |
| Cash Income Tax Paid | 445.40M | 445.40M | 514.00M | 570.90M | 735.20M | 641.70M |
| Change in Working Capital | -532.40M | -686.40M | -318.60M | -711.30M | -922.60M | -1.80B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 21.44B | 14.34B | 14.86B | 12.99B | 13.50B | 16.36B |
| Enterprise Value | 33.56B | 27.95B | 28.84B | 30.23B | 33.02B | 39.26B |
| Last Close Price | 19.04 | 12.16 | 11.58 | 9.67 | 9.48 | 11.06 |
| PE Ratio | 237.52 | 6.49 | ||||
| Forward PE | 7.31 | 5.21 | 5.00 | 3.84 | 3.49 | 3.70 |
| PS Ratio | 1.46 | 1.00 | 1.01 | 0.84 | 0.83 | 0.92 |
| PB Ratio | 1.54 | 0.97 | 0.80 | 0.64 | 0.64 | 0.80 |
| P/FCF Ratio | 10.99 | 7.40 | 7.52 | 5.15 | 5.21 | 6.39 |
| P/OCF Ratio | 9.22 | 6.19 | 6.45 | 4.48 | 4.50 | 5.42 |
| PEG Ratio | 2.57 | 0.53 | 0.53 | 0.53 | 2.77 | 0.56 |
| EV/Sales Ratio | 2.28 | 1.95 | 1.96 | 1.96 | 2.03 | 2.19 |
| EV/EBITDA Ratio | 7.83 | 7.06 | 6.69 | 6.40 | 5.89 | 7.14 |
| EV/EBIT Ratio | 21.43 | 22.65 | 18.02 | 14.81 | 12.02 | 35.75 |
| EV/FCF Ratio | 17.19 | 14.43 | 14.59 | 11.98 | 12.73 | 15.34 |
| Debt / Equity Ratio | 0.95 | 1.00 | 0.77 | 0.90 | 0.93 | 1.14 |
| Debt / EBITDA Ratio | 3.11 | 3.63 | 3.25 | 3.82 | 3.43 | 4.17 |
| Debt / FCF Ratio | 6.97 | 7.59 | 7.24 | 7.28 | 7.53 | 9.12 |
| Net Debt / Equity Ratio | 0.85 | 0.90 | 0.71 | 0.84 | 0.86 | 1.10 |
| Net Debt / EBITDA Ratio | 2.82 | 3.33 | 3.07 | 3.64 | 3.22 | 4.10 |
| Net Debt / FCF Ratio | 6.20 | 6.81 | 6.68 | 6.81 | 6.96 | 8.82 |
| Asset Turnover | 0.40 | 0.36 | 0.33 | 0.32 | 0.31 | 0.31 |
| Inventory Turnover | 2.15 | 2.20 | 2.35 | 2.52 | 2.49 | 2.51 |
| Quick Ratio | 0.82 | 0.69 | 0.80 | 0.71 | 0.83 | 0.51 |
| Current Ratio | 1.58 | 1.38 | 1.65 | 1.67 | 1.58 | 1.10 |
| Return on Equity (ROE) | -2.75% | -21.08% | -3.24% | 0.26% | 10.00% | -5.84% |
| Return on Assets (ROA) | 2.67% | 1.96% | 2.24% | 2.61% | 3.27% | 1.18% |
| Return on Invested Capital (ROIC) | 5.89% | 4.13% | 4.61% | 1.43% | 4.94% | 2.41% |
| Return on Capital Employed (ROCE) | 5.50% | 4.10% | 4.50% | 5.10% | 6.30% | 2.40% |
| Earnings Yield | -1.90% | -24.51% | -4.27% | 0.42% | 15.40% | -7.76% |
| FCF Yield | 9.10% | 13.51% | 13.30% | 19.42% | 19.21% | 15.64% |
| Dividend Yield | 2.57% | 3.85% | 3.86% | 4.44% | 4.32% | 3.33% |
| Payout Ratio | 1,052.29% | 27.98% | ||||
| Buyback Yield / Dilution | 2.44% | 1.89% | 1.13% | 0.86% | -0.71% | -101.06% |
| Total Shareholder Return | 5.00% | 5.75% | 4.98% | 5.30% | 3.61% | -97.74% |