NYSE : TEVA
Teva Pharmaceutical Industries Limited — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · Israel
Last price 41.47 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 48.32B
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Financial statements
Teva Pharmaceutical Industries Limited (TEVA) reported revenue of 17.32B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 17.32B | 17.26B | 16.54B | 15.85B | 14.93B | 15.88B |
| Cost of Revenue | 8.23B | 8.32B | 8.48B | 8.20B | 7.95B | 8.28B |
| Gross Profit | 9.08B | 8.94B | 8.06B | 7.65B | 6.97B | 7.59B |
| Selling, General & Admin | 4.13B | 3.97B | 3.70B | 3.50B | 3.44B | 3.53B |
| Research & Development | 1.71B | 1.01B | 998.00M | 953.00M | 838.00M | 967.00M |
| Other Operating Expenses | -39.00M | -10.00M | 10.00M | 28.00M | 20.00M | |
| Operating Expenses | 5.80B | 4.99B | 4.69B | 4.46B | 4.31B | 4.51B |
| Operating Income | 3.28B | 3.95B | 3.37B | 3.19B | 2.66B | 3.08B |
| Interest Expense | -861.00M | -916.00M | -1.00B | -1.03B | -930.00M | -891.00M |
| Interest & Investment Income | 92.00M | 92.00M | 86.00M | 68.00M | 10.00M | |
| Earnings From Equity Investments | 13.00M | 15.00M | 1.00M | 2.00M | 21.00M | 9.00M |
| Currency Exchange Gain (Loss) | -18.00M | -41.00M | -17.00M | -30.00M | 16.00M | -7.00M |
| Other Non Operating Income (Expenses) | -110.00M | -71.00M | -48.00M | -66.00M | -62.00M | -69.00M |
| EBT Excluding Unusual Items | 2.40B | 3.03B | 2.39B | 2.13B | 1.72B | 2.12B |
| Merger & Restructuring Charges | -120.00M | -225.00M | -74.00M | -111.00M | -146.00M | -133.00M |
| Impairment of Goodwill | -1.28B | -700.00M | -2.04B | |||
| Gain (Loss) on Sale of Investments | -90.00M | |||||
| Gain (Loss) on Sale of Assets | -20.00M | -20.00M | 17.00M | 28.00M | 64.00M | 58.00M |
| Asset Writedown | -973.00M | -1.03B | -1.27B | -378.00M | -402.00M | -584.00M |
| Legal Settlements | -518.00M | -467.00M | -761.00M | -1.04B | -2.07B | -698.00M |
| Other Unusual Items | -46.00M | -54.00M | -303.00M | -548.00M | -261.00M | -7.00M |
| Pretax Income | 719.00M | 1.24B | -1.28B | -622.00M | -3.14B | 667.00M |
| Income Tax Expense | 12.00M | -180.00M | 676.00M | -7.00M | -643.00M | 211.00M |
| Earnings From Continuing Operations | 707.00M | 1.42B | -1.96B | -615.00M | -2.50B | 456.00M |
| Minority Interest in Earnings | -1.00M | -7.00M | 320.00M | 56.00M | 53.00M | -39.00M |
| Net Income | 706.00M | 1.41B | -1.64B | -559.00M | -2.45B | 417.00M |
| Net Income to Common | 706.00M | 1.41B | -1.64B | -559.00M | -2.45B | 417.00M |
| Shares Outstanding (Basic) | 1.15B | 1.15B | 1.13B | 1.12B | 1.11B | 1.10B |
| Shares Outstanding (Diluted) | 1.16B | 1.16B | 1.13B | 1.12B | 1.11B | 1.11B |
| EPS (Basic) | 0.61 | 1.23 | -1.45 | -0.50 | -2.20 | 0.38 |
| EPS (Diluted) | 0.60 | 1.21 | -1.45 | -0.50 | -2.20 | 0.38 |
| Free Cash Flow | 1.35B | 1.15B | 749.00M | 842.00M | 1.04B | 236.00M |
| Free Cash Flow Per Share | 1.16 | 0.99 | 0.66 | 0.75 | 0.94 | 0.21 |
| Gross Margin | 52.46% | 51.79% | 48.74% | 48.25% | 46.72% | 47.83% |
| Operating Margin | 18.94% | 22.90% | 20.39% | 20.10% | 17.84% | 19.39% |
| Profit Margin | 4.08% | 8.17% | -9.91% | -3.53% | -16.39% | 2.63% |
| Free Cash Flow Margin | 7.78% | 6.65% | 4.53% | 5.31% | 6.98% | 1.49% |
| EBITDA | 4.27B | 4.95B | 4.43B | 4.34B | 3.97B | 4.41B |
| EBITDA Margin | 24.65% | 28.71% | 26.79% | 27.38% | 26.60% | 27.77% |
| D&A For EBITDA | 988.00M | 1.00B | 1.06B | 1.15B | 1.31B | 1.33B |
| EBIT | 3.28B | 3.95B | 3.37B | 3.19B | 2.66B | 3.08B |
| EBIT Margin | 18.94% | 22.90% | 20.39% | 20.10% | 17.84% | 19.39% |
| Effective Tax Rate | 1.67% | 31.63% | ||||
| Advertising Expenses | 246.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.65B | 3.56B | 3.30B | 3.23B | 2.80B | 2.17B |
| Cash & Short-Term Investments | 3.65B | 3.56B | 3.30B | 3.23B | 2.80B | 2.17B |
| Receivables | 3.49B | 3.71B | 3.06B | 3.41B | 3.70B | 4.53B |
| Inventory | 3.22B | 3.18B | 3.01B | 4.02B | 3.83B | 3.82B |
| Prepaid Expenses | 1.03B | 1.12B | 1.01B | 1.25B | 1.16B | 1.07B |
| Restricted Cash | 1.00M | 33.00M | 33.00M | |||
| Other Current Assets | 2.36B | 2.38B | 2.18B | 574.00M | 526.00M | 953.00M |
| Total Current Assets | 13.76B | 13.95B | 12.55B | 12.48B | 12.05B | 12.57B |
| Property, Plant & Equipment | 4.26B | 4.42B | 4.95B | 6.15B | 6.16B | 6.48B |
| Long-Term Investments | 8.00M | |||||
| Goodwill | 15.84B | 16.00B | 15.15B | 17.18B | 17.63B | 20.04B |
| Other Intangible Assets | 3.45B | 3.78B | 4.42B | 5.39B | 6.27B | 7.47B |
| Long-Term Deferred Tax Assets | 2.16B | 2.19B | 1.80B | 1.81B | 1.46B | 596.00M |
| Other Long-Term Assets | 388.00M | 405.00M | 462.00M | 463.00M | 441.00M | 514.00M |
| Total Assets | 39.86B | 40.75B | 39.33B | 43.48B | 44.01B | 47.67B |
| Accounts Payable | 2.72B | 2.53B | 2.20B | 2.60B | 1.89B | 1.69B |
| Accrued Expenses | 5.70B | 6.08B | 5.65B | 5.53B | 4.96B | 5.28B |
| Current Portion of Long-Term Debt | 4.50B | 1.82B | 1.78B | 1.67B | 2.11B | 1.43B |
| Current Portion of Leases | 94.00M | 87.00M | 97.00M | 93.00M | 109.00M | |
| Other Current Liabilities | 2.72B | 2.93B | 3.07B | 2.35B | 2.42B | 2.53B |
| Total Current Liabilities | 15.65B | 13.46B | 12.80B | 12.25B | 11.47B | 11.03B |
| Long-Term Debt | 12.11B | 15.01B | 16.00B | 18.16B | 19.10B | 21.62B |
| Long-Term Leases | 282.00M | 311.00M | 314.00M | 343.00M | 371.00M | 441.00M |
| Pension & Post-Retirement Benefits | 50.00M | 63.00M | 73.00M | |||
| Long-Term Deferred Tax Liabilities | 289.00M | 296.00M | 483.00M | 606.00M | 548.00M | 784.00M |
| Other Long-Term Liabilities | 3.77B | 3.72B | 3.95B | 3.92B | 3.92B | 2.55B |
| Total Liabilities | 32.10B | 32.83B | 33.61B | 35.35B | 35.41B | 36.42B |
| Common Stock | 59.00M | 58.00M | 58.00M | 57.00M | 57.00M | 57.00M |
| Additional Paid-In Capital | 28.26B | 28.13B | 27.76B | 27.81B | 27.69B | 27.56B |
| Retained Earnings | -13.97B | -13.76B | -15.17B | -13.53B | -12.97B | -10.53B |
| Treasury Stock | -4.13B | -4.13B | -4.13B | -4.13B | -4.13B | -4.13B |
| Comprehensive Income & Other | -2.46B | -2.39B | -3.15B | -2.70B | -2.84B | -2.68B |
| Total Common Equity | 7.75B | 7.91B | 5.37B | 7.51B | 7.80B | 10.28B |
| Minority Interest | 4.00M | 4.00M | 347.00M | 620.00M | 794.00M | 966.00M |
| Shareholders' Equity | 7.76B | 7.91B | 5.72B | 8.13B | 8.60B | 11.24B |
| Total Liabilities & Equity | 39.86B | 40.75B | 39.33B | 43.48B | 44.01B | 47.67B |
| Total Debt | 16.89B | 17.23B | 18.18B | 20.27B | 21.68B | 23.59B |
| Net Cash (Debt) | -13.24B | -13.67B | -14.88B | -17.05B | -18.88B | -21.43B |
| Net Cash Per Share | -11.38 | -11.76 | -13.16 | -15.23 | -17.00 | -19.36 |
| Filing Date Shares Outstanding | 1.17B | 1.15B | 1.13B | 1.12B | 1.11B | 1.10B |
| Total Common Shares Outstanding | 1.17B | 1.15B | 1.13B | 1.12B | 1.11B | 1.10B |
| Working Capital | -1.89B | 490.00M | -244.00M | 238.00M | 582.00M | 1.55B |
| Book Value Per Share | 6.65 | 6.88 | 4.74 | 6.70 | 7.02 | 9.32 |
| Tangible Book Value | -11.53B | -11.87B | -14.19B | -15.06B | -16.10B | -17.23B |
| Tangible Book Value Per Share | -9.90 | -10.32 | -12.52 | -13.43 | -14.49 | -15.61 |
| Land | 258.00M | 213.00M | 246.00M | 246.00M | 262.00M | |
| Buildings | 2.33B | 1.97B | 2.49B | 2.46B | 2.57B | |
| Machinery | 5.85B | 5.48B | 7.23B | 7.35B | 7.36B | |
| Construction In Progress | 377.00M | 1.33B | 1.43B | 1.20B | 1.03B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 706.00M | 1.41B | -1.64B | -559.00M | -2.45B | 417.00M |
| Depreciation & Amortization | 988.00M | 1.00B | 1.06B | 1.15B | 1.31B | 1.33B |
| Loss (Gain) From Sale of Assets | -20.00M | -22.00M | -41.00M | 10.00M | ||
| Asset Writedown & Restructuring Costs | 1.70B | 1.03B | 2.56B | 1.08B | 2.45B | 594.00M |
| Loss (Gain) From Sale of Investments | 104.00M | |||||
| Stock-Based Compensation | 168.00M | 157.00M | 123.00M | 121.00M | 124.00M | 119.00M |
| Other Operating Activities | -530.00M | -582.00M | -394.00M | -312.00M | -1.21B | -65.00M |
| Change in Accounts Receivable | -7.00M | -173.00M | 245.00M | 12.00M | 334.00M | -574.00M |
| Change in Inventory | 181.00M | 152.00M | 166.00M | -147.00M | -163.00M | 380.00M |
| Change in Accounts Payable | -123.00M | -15.00M | 258.00M | 1.59B | 2.01B | 764.00M |
| Change in Other Net Operating Assets | -1.16B | -1.33B | -1.10B | -1.52B | -828.00M | -2.27B |
| Operating Cash Flow | 1.90B | 1.65B | 1.25B | 1.37B | 1.59B | 798.00M |
| Capital Expenditures | -551.00M | -501.00M | -498.00M | -526.00M | -548.00M | -562.00M |
| Cash Acquisitions | -696.00M | -15.00M | -7.00M | |||
| Divestitures | 54.00M | 34.00M | 43.00M | 68.00M | 68.00M | 311.00M |
| Investment in Securities | 11.00M | -15.00M | -31.00M | -46.00M | 3.00M | 125.00M |
| Other Investing Activities | -2.00M | 5.00M | 2.00M | -5.00M | 1.00M | |
| Investing Cash Flow | 37.00M | 737.00M | 792.00M | 968.00M | 656.00M | 1.52B |
| Short-Term Debt Issued | 700.00M | 700.00M | ||||
| Long-Term Debt Issued | 2.30B | 2.45B | 4.97B | |||
| Total Debt Issued | -7.00M | 2.30B | 3.15B | 5.67B | ||
| Short-Term Debt Repaid | -700.00M | -700.00M | ||||
| Long-Term Debt Repaid | -4.11B | -1.64B | -4.15B | -1.37B | -7.14B | |
| Total Debt Repaid | -467.00M | -4.11B | -1.64B | -4.85B | -1.37B | -7.84B |
| Net Debt Issued (Repaid) | -474.00M | -1.81B | -1.64B | -1.70B | -1.37B | -2.17B |
| Other Financing Activities | 73.00M | -337.00M | -150.00M | -212.00M | -118.00M | -6.00M |
| Financing Cash Flow | -401.00M | -2.15B | -1.79B | -1.91B | -1.49B | -2.17B |
| Foreign Exchange Rate Adjustments | -41.00M | 21.00M | -174.00M | -30.00M | -123.00M | -128.00M |
| Net Cash Flow | 1.49B | 256.00M | 74.00M | 393.00M | 636.00M | 21.00M |
| Free Cash Flow | 1.35B | 1.15B | 749.00M | 842.00M | 1.04B | 236.00M |
| Free Cash Flow Margin | 7.78% | 6.65% | 4.53% | 5.31% | 6.98% | 1.49% |
| Free Cash Flow Per Share | 1.16 | 0.99 | 0.66 | 0.75 | 0.94 | 0.21 |
| Levered Free Cash Flow | 2.22B | 2.03B | 2.62B | 3.30B | 2.90B | 2.31B |
| Unlevered Free Cash Flow | 2.76B | 2.60B | 3.25B | 3.94B | 3.48B | 2.86B |
| Cash Interest Paid | 950.00M | 950.00M | 1.00B | 1.08B | 948.00M | 913.00M |
| Cash Income Tax Paid | 558.00M | 558.00M | 471.00M | 298.00M | 543.00M | 495.00M |
| Change in Working Capital | -1.11B | -1.37B | -435.00M | -72.00M | 1.35B | -1.70B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 47.43B | 32.82B | 20.99B | 9.66B | 9.93B | 9.54B |
| Enterprise Value | 60.67B | 47.72B | 37.26B | 28.29B | 30.08B | 32.65B |
| Last Close Price | 40.70 | 28.61 | 18.50 | 8.62 | 8.94 | 8.65 |
| PE Ratio | 67.64 | 23.28 | 22.88 | |||
| PS Ratio | 2.74 | 1.90 | 1.27 | 0.61 | 0.67 | 0.60 |
| PB Ratio | 6.12 | 4.15 | 3.67 | 1.19 | 1.16 | 0.85 |
| P/FCF Ratio | 35.21 | 28.59 | 28.02 | 11.48 | 9.53 | 40.43 |
| P/OCF Ratio | 24.99 | 19.91 | 16.83 | 7.06 | 6.25 | 11.96 |
| EV/Sales Ratio | 3.50 | 2.77 | 2.25 | 1.79 | 2.02 | 2.06 |
| EV/EBITDA Ratio | 14.21 | 9.63 | 8.41 | 6.52 | 7.58 | 7.41 |
| EV/EBIT Ratio | 18.50 | 12.07 | 11.05 | 8.88 | 11.30 | 10.60 |
| EV/FCF Ratio | 45.04 | 41.56 | 49.75 | 33.60 | 28.86 | 138.35 |
| Debt / Equity Ratio | 2.18 | 2.18 | 3.18 | 2.50 | 2.52 | 2.10 |
| Debt / EBITDA Ratio | 3.84 | 3.39 | 3.98 | 4.53 | 5.26 | 5.19 |
| Debt / FCF Ratio | 12.54 | 15.01 | 24.28 | 24.08 | 20.80 | 99.97 |
| Net Debt / Equity Ratio | 1.71 | 1.73 | 2.60 | 2.10 | 2.19 | 1.91 |
| Net Debt / EBITDA Ratio | 3.10 | 2.76 | 3.36 | 3.93 | 4.75 | 4.86 |
| Net Debt / FCF Ratio | 9.83 | 11.91 | 19.87 | 20.25 | 18.11 | 90.80 |
| Asset Turnover | 0.43 | 0.43 | 0.40 | 0.36 | 0.33 | 0.32 |
| Inventory Turnover | 2.45 | 2.69 | 2.41 | 2.09 | 2.08 | 2.02 |
| Quick Ratio | 0.46 | 0.54 | 0.50 | 0.54 | 0.57 | 0.61 |
| Current Ratio | 0.88 | 1.04 | 0.98 | 1.02 | 1.05 | 1.14 |
| Return on Equity (ROE) | 9.69% | 20.79% | -28.30% | -7.36% | -25.19% | 4.09% |
| Return on Assets (ROA) | 5.13% | 6.17% | 5.09% | 4.55% | 3.63% | 3.91% |
| Return on Invested Capital (ROIC) | 15.21% | 18.73% | 14.74% | 12.10% | 8.85% | 6.18% |
| Return on Capital Employed (ROCE) | 13.50% | 14.50% | 12.70% | 10.20% | 8.20% | 8.40% |
| Earnings Yield | 1.48% | 4.30% | -7.81% | -5.79% | -24.63% | 4.37% |
| FCF Yield | 2.84% | 3.50% | 3.57% | 8.71% | 10.49% | 2.47% |
| Buyback Yield / Dilution | -2.24% | -2.83% | -1.07% | -0.81% | -0.27% | -1.10% |
| Total Shareholder Return | -2.24% | -2.83% | -1.07% | -0.81% | -0.27% | -1.10% |