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Financials · VTRS

Viatris Inc. (VTRS) financials

For the twelve months ended Sep 30, 2026, Viatris Inc. reported $14.73B of revenue and -$607.80M of net income.

Revenue, TTM
$14.73B
Revenue growth, YoY
+4.3%
Net income, TTM
-$607.80M
Net margin
-4.1%
Free cash flow, TTM
$2.11B
Cash
$1.79B
Total debt
$13.31B
P/S
1.62
Market cap
$23.90B
Annual revenue$14.30B
FY2018FY2025
Annual net income-$3.51B
FY2018FY2025
Annual free cash flow$1.94B
FY2018FY2025

VTRS revenue and earnings growth

VTRS revenueQ3 2026$3.75B

Quarter YoY
-0.3%
QoQ
-0.2%
FY YoY
-3.0%
5Y CAGR
+3.7%

VTRS revenue was $3.75B in fiscal Q3 2026 (ended Sep 30, 2026), down 0.3% from a year earlier and down 0.2% from the prior quarter. For the full fiscal 2025 it was $14.30B, down 3.0% from fiscal 2024. Compound annual growth was +3.7% over 5 years. It rose in 3 of the last 7 fiscal years.

VTRS net incomeQ3 2026-$325.30M

VTRS net income was -$325.30M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$128.20M a year earlier. For the full fiscal 2025 it was -$3.51B, compared with -$634.20M in fiscal 2024.

VTRS EPSQ3 2026-$0.28

VTRS diluted EPS was -$0.28 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.11 a year earlier. For the full fiscal 2025 it was -$3.00, compared with -$0.53 in fiscal 2024.

VTRS free cash flowQ3 2026$813.70M

Quarter YoY
+23.6%
QoQ
+147.3%
FY YoY
-2.0%
5Y CAGR
+14.4%

VTRS free cash flow was $813.70M in fiscal Q3 2026 (ended Sep 30, 2026), up 23.6% from a year earlier and up 147.3% from the prior quarter. For the full fiscal 2025 it was $1.94B, down 2.0% from fiscal 2024. Compound annual growth was +14.4% over 5 years. It rose in 2 of the last 7 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$14.30B$14.74B$15.43B$16.26B$17.89B$11.95B$11.50B$11.43B
Cost of revenue$9.29B$9.12B$8.99B$9.77B$12.31B$8.15B$7.60B$7.43B
Gross profit$5.01B$5.62B$6.44B$6.50B$5.58B$3.80B$3.90B$4.00B
Research and development$965.90M$808.70M$805.20M$662.20M$681.00M$512.60M$639.90M$704.50M
Selling, general and admin$3.79B$4.10B$4.07B$4.18B$4.53B$3.34B$2.56B$2.44B
Operating income-$2.66B$10.10M$766.20M$1.61B-$34.00M-$210.80M$715.50M$905.60M
Interest expense$471.30M$550.00M$573.10M$592.40M$636.20M$497.80M$517.30M$542.30M
Pre-tax income-$3.67B-$623.20M$202.90M$2.81B-$664.40M-$721.20M$154.40M$298.40M
Income tax-$150.10M$11.00M$148.20M$734.60M$604.70M-$51.30M$137.60M-$54.10M
Net income-$3.51B-$634.20M$54.70M$2.08B-$1.27B-$669.90M$16.80M$352.50M
EPS, basic-$3.00-$0.53$0.05$1.71-$1.05-$1.11$0.03$0.69
EPS, diluted-$3.00-$0.53$0.05$1.71-$1.05-$1.11$0.03$0.68
Diluted shares--1.21B1.22B1.21B601.2M516.5M516.5M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$1.32B$736.10M$991.90M$1.26B$706.20M$850.00M$491.10M$389.30M
Receivables$3.03B$3.22B$3.70B$3.81B$4.27B$4.84B$3.06B-
Inventory$4.00B$3.85B$3.47B$3.52B$3.98B$5.47B$2.67B-
Current assets$9.79B$9.52B$12.98B$10.64B$10.90B$12.87B$6.76B-
Goodwill$6.75B$9.13B$9.87B$10.43B$12.11B$12.35B$9.59B$9.75B
Total assets$37.19B$41.50B$47.69B$50.02B$54.84B$61.55B$31.26B-
Current liabilities$7.09B$5.78B$7.78B$6.75B$9.88B$10.56B$5.57B-
Short-term debt$1.93B$600.0K$1.93B$1.25B$1.86B$2.26B$1.46B-
Long-term debt$12.48B$14.04B$16.19B$18.02B$19.72B$22.43B$11.21B-
Total debt$14.41B$14.04B$18.12B$19.27B$21.58B$24.69B$12.67B-
Total liabilities$22.48B$22.87B$27.22B$28.95B$34.35B$38.60B$19.37B-
Shareholders' equity$14.71B$18.64B$20.47B$21.07B$20.49B$22.95B$11.88B$12.17B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow$2.32B$2.30B$2.90B$3.00B$3.02B$1.23B$1.80B$2.34B
Capital expenditures$378.80M$326.00M$377.00M$406.00M$457.20M$243.00M$213.20M$252.10M
Free cash flow$1.94B$1.98B$2.52B$2.59B$2.56B$988.80M$1.59B$2.09B
Investing cash flow-$427.70M$1.80B-$864.50M$1.47B-$117.80M-$301.10M-$525.40M-$1.21B
Financing cash flow-$1.29B-$4.33B-$2.30B-$3.88B-$3.01B-$605.70M-$1.17B-$1.09B
Share repurchases$500.50M$250.00M$250.00M$0$0$0$0$432.00M
Stock-based compensation$177.70M$146.10M$180.70M$116.40M$111.20M$79.20M$56.80M-$3.30M
Depreciation and amortization$2.80B$2.89B$2.74B$3.03B$4.51B$2.22B$2.02B$2.11B

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY-3.0%-4.5%-5.1%-9.1%49.7%3.9%0.6%-
Net income growth, YoY---97.4%----95.2%-
EPS growth, YoY---97.1%----95.6%-
Gross margin35.1%38.2%41.7%40.0%31.2%31.8%33.9%35.0%
Operating margin-18.6%0.1%5.0%9.9%-0.2%-1.8%6.2%7.9%
Net margin-24.6%-4.3%0.4%12.8%-7.1%-5.6%0.1%3.1%
Free cash flow margin13.5%13.4%16.4%15.9%14.3%8.3%13.8%18.3%
Return on equity-23.9%-3.4%0.3%9.9%-6.2%-2.9%0.1%2.9%
Return on assets-9.5%-1.5%0.1%4.2%-2.3%-1.1%0.1%-
Current ratio1.381.651.671.581.101.221.21-
Debt to equity0.980.750.890.911.051.081.07-

Source: XBRL data Viatris Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VTRS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VTRS$14.73B+4.3%-$607.80M-4.1%$23.90B
LLY$86.46B+45.5%$27.58B31.9%$1.35T
JNJ$99.33B+7.8%$16.09B16.2%$675.92B
ABBV$66.01B+10.7%$10.34B15.7%$519.48B
MRK$67.38B+4.9%$2.45B3.6%$364.98B
NVS$54.53B+8.4%$13.98B25.6%$311.52B
AZN$58.74B+8.6%$10.22B17.4%$289.61B
ABT$48.23B+10.0%$4.70B9.7%$191.31B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$180.22B

VTRS FAQ

8 questions
  • What is VTRS revenue?
    Viatris Inc. (VTRS) reported $14.73B of revenue for the twelve months ended Sep 30, 2026. That is up 4.3% from the year before. Revenue for fiscal 2025 was $14.30B.
  • Is VTRS profitable?
    No. Viatris Inc. reported a net loss of $607.80M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does VTRS have?
    Viatris Inc. reported $1.79B in cash and cash equivalents and $13.31B of debt on its most recent balance sheet in SEC filings.
  • How fast is VTRS revenue growing?
    Viatris Inc.'s revenue changed -3.0% in fiscal 2025, to $14.30B. Its compound annual growth rate was +3.7% over 5 years.
  • What is VTRS gross margin?
    Viatris Inc.'s gross profit was $5.20B on $14.73B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 35.3%.
  • What is VTRS free cash flow?
    Viatris Inc. generated $2.11B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.49B less capital expenditures.
  • When did VTRS last report financial results?
    The latest statements here come from Viatris Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this VTRS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Viatris Inc. files with the SEC. It is provided for information only and is not investment advice.