Viatris Inc.VTRS
NasdaqGS•Healthcare•Drug Manufacturers - Specialty & Generic
Viatris Inc., together with its subsidiaries, operates as a healthcare company in North America, Europe, China, Taiwan, Hong Kong, Japan, Australia, New Zealand, rest of Asia, Africa, Latin America, and the Middle East. It operates in four segments: Developed Markets, Greater China, JANZ, and Emerging Markets. The company offers prescription brand drugs, generic drugs, complex generic drugs, and biosimilars. It also provides drugs in various therapeutic areas covering various noncommunicable and infectious diseases, including cardiovascular, CNS and anesthesia, dermatology, diabetes and metabolism, eye care, gastroenterology, immunology, oncology, and respiratory and allergy, as well as support services, such as diagnostic clinics, educational seminars, and digital tools to help patients better manage their health. In addition, the company offers medicines in the form of oral solid doses, injectables, and complex dosage forms to retail and pharmacy establishments, wholesalers and distributors, payers, insurers and governments, and institutions. It distributes its products through pharmaceutical wholesalers/distributors, pharmaceutical retailers, institutional pharmacies, mail-order and e-commerce pharmacies, and specialty pharmacies under the Lyrica, Lipitor, Celebrex, Viagra, Creon, Influvac, Wixela Inhub, EpiPen Auto-Injector, Fraxiparine, Yupelri, Norvasc, Amitiza, Effexor, Lipacreon, Zoloft, Xalabrands, Dymista, Xanax, and Breyna brands. The company has collaboration agreements with Mapi Pharma Ltd. to develop and commercialize long-acting glatiramer acetate depot products and additional products; Revance Therapeutics, Inc. to develop, manufacture, and commercialize a biosimilar to the branded biologic product, BOTOX; and Theravance Biopharma, Inc. to develop and commercialize revefenacin. Viatris Inc. was founded in 1961 and is headquartered in Canonsburg, Pennsylvania.
Viatris Inc. (VTRS) reported trailing twelve months revenue of $14.56B as of March 2026, a 1.6% increase year-over-year. Quarterly revenue reached $3.52B, reflecting continued top-line momentum.
Viatris Inc. reported a TTM net loss of $296.50M, with quarterly EBITDA of $596.40M. The operating margin expanded from -88.6% to -2.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (-2.3%) and net margin (5.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from -93.5% a year ago, signaling stronger bottom-line efficiency.
VTRS trades at a P/S of 1.0x. The price-to-book ratio of 1.0x reflects a moderate premium to book value.
The company generated $348.40M in free cash flow over the trailing twelve months, a 29.3% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $36.83B in total assets with $12.41B in long-term debt against $14.66B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -11.3%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg -4.4x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation