VTRS

MKT CAP:$17B

Viatris Inc.

Market Cap

$17B

Healthcare·Drug Manufacturers - Specialty & Generic·🇺🇸 United States·NASDAQ

Healthcare·Drug·🇺🇸·NASDAQ

Stock Price

$14.52+$2.06 (+16.53%)

Apr 22, 2026

Company Details

Viatris Inc. operates as a healthcare company worldwide. The company operates in four segments: Developed Markets, Greater China, JANZ, and Emerging Markets. It offers prescription brand drugs, generic drugs, complex generic drugs, biosimil...

CEO

Scott Andrew Smith

IPO Date

Mar 17, 1980

Website

www.viatris.com

Key Metrics TTM

Revenue

$14.3B

-3.0% YoY

Net Income

-$3.5B

EPS (Diluted)

-$2.96

Free Cash Flow

$1.8B

Revenue / Share

$12.41

Gross Margin

35.1%

Operating Margin

-18.6%

Net Margin

-24.6%

FCF Margin

12.7%

P/S

1.2x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 26, 2026

$14.3B-3.0%EPS -$3.00

Q4 2025

Feb 26, 2026

$3.7B+5.0%EPS -$0.30

Q3 2025

Nov 6, 2025

$3.8B+0.2%EPS -$0.11

Q2 2025

Aug 7, 2025

$3.6B-5.6%EPS -$0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$4.2B	$1.8B	$707M
Q2 22	$4.1B	$1.7B	$549M
Q3 22	$4.1B	$1.7B	$560M
Q4 22	$3.9B	$1.3B	-$201M
Q1 23	$3.7B	$1.5B	$400M
Q2 23	$3.9B	$1.6B	$369M
Q3 23	$3.9B	$1.7B	$452M
Q4 23	$3.8B	$1.6B	-$455M
Q1 24	$3.7B	$1.5B	$204M
Q2 24	$3.8B	$1.4B	-$240M
Q3 24	$3.8B	$1.5B	$226M
Q4 24	$3.5B	$1.2B	-$180M
Q1 25	$3.3B	$1.2B	-$2.9B
Q2 25	$3.6B	$1.3B	$233M
Q3 25	$3.8B	$1.4B	$252M
Q4 25	$3.7B	$1.1B	-$266M

Valuation

Quarter	P/S	P/E
Q1 22	1.0x	101.0x
Q2 22	1.0x	22.3x
Q3 22	1.0x	21.1x
Q4 22	1.0x	8.1x
Q1 23	1.1x	8.9x
Q2 23	1.1x	9.1x
Q3 23	1.1x	9.2x
Q4 23	1.1x	309.5x
Q1 24	1.1x	—
Q2 24	1.1x	—
Q3 24	1.1x	—
Q4 24	1.1x	—
Q1 25	1.2x	—
Q2 25	1.2x	—
Q3 25	1.2x	—
Q4 25	1.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$1.1B	$1.1B
Q2 22	$803M	$713M
Q3 22	$869M	$753M
Q4 22	$143M	-$23M
Q1 23	$971M	$889M
Q2 23	$525M	$426M
Q3 23	$835M	$732M
Q4 23	$479M	$279M
Q1 24	$615M	$564M
Q2 24	$379M	$320M
Q3 24	$827M	$741M
Q4 24	$483M	$329M
Q1 25	$536M	$459M
Q2 25	$220M	$166M
Q3 25	$745M	$645M
Q4 25	$816M	$551M

Capital Expenditures

Quarter	CapEx
Q1 22	$72M
Q2 22	$90M
Q3 22	$116M
Q4 22	$166M
Q1 23	$83M
Q2 23	$99M
Q3 23	$103M
Q4 23	$201M
Q1 24	$51M
Q2 24	$59M
Q3 24	$85M
Q4 24	$153M
Q1 25	$76M
Q2 25	$54M
Q3 25	$100M
Q4 25	$265M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-5.4%	-25.8%
Q2 22	-10.1%	-22.9%
Q3 22	-10.1%	-15.8%
Q4 22	-10.7%	-7.7%
Q1 23	-11.0%	-4.4%
Q2 23	-4.8%	-0.5%
Q3 23	-3.3%	-0.8%
Q4 23	-1.0%	+5.3%
Q1 24	-1.8%	+3.9%
Q2 24	-3.1%	+13.7%
Q3 24	-4.8%	+1.0%
Q4 24	-8.1%	-13.6%
Q1 25	-11.2%	+77.4%
Q2 25	-5.6%	-17.0%
Q3 25	+0.2%	-0.5%
Q4 25	+5.0%	+7.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$28M	0.7%
Q2 22	$29M	0.7%
Q3 22	$29M	0.7%
Q4 22	$30M	0.8%
Q1 23	$43M	1.1%
Q2 23	$39M	1.0%
Q3 23	$43M	1.1%
Q4 23	$56M	1.5%
Q1 24	$47M	1.3%
Q2 24	$35M	0.9%
Q3 24	$32M	0.9%
Q4 24	$32M	0.9%
Q1 25	$55M	1.7%
Q2 25	$37M	1.0%
Q3 25	$36M	1.0%
Q4 25	$49M	1.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$142M	$915M
Q2 22	$163M	$981M
Q3 22	$175M	$1.0B
Q4 22	$182M	$1.3B
Q1 23	$183M	$959M
Q2 23	$208M	$1.0B
Q3 23	$211M	$1.1B
Q4 23	$203M	$1.6B
Q1 24	$200M	$1.0B
Q2 24	$204M	$1.0B
Q3 24	$198M	$1.0B
Q4 24	$207M	$1.0B
Q1 25	$222M	$948M
Q2 25	$219M	$929M
Q3 25	$250M	$883M
Q4 25	$275M	$1.0B

Revenue Segments

Quarter	Brands	Complex GX and Biosimilars	Generics
Q1 22	$2.6B	$391M	$1.2B
Q2 22	$2.5B	$355M	$1.3B
Q3 22	$2.5B	$320M	$1.2B
Q4 22	$2.3B	$248M	$1.3B
Q1 23	$2.4B	$136M	$1.2B
Q2 23	$2.4B	$139M	$1.3B
Q3 23	$2.5B	$174M	$1.2B
Q1 24	$2.3B	—	$1.3B
Q2 24	$2.4B	—	$1.4B
Q3 24	$2.4B	—	$1.4B
Q1 25	$2.1B	—	$1.1B
Q2 25	$2.3B	—	$1.3B
Q3 25	$2.4B	—	$1.3B
Q4 25	$2.3B	—	$1.3B

Revenue by Geography

Quarter	Developed Markets Segment	Emerging Markets Segment	Greater China Segment	Japan, Australia and New Zealand Segment
Q1 22	$2.5B	$705M	$573M	$424M
Q2 22	$2.5B	$651M	$548M	$427M
Q3 22	$2.4B	$679M	$574M	$383M
Q4 22	$2.4B	$581M	$506M	$399M
Q1 23	$2.2B	$642M	$565M	$342M
Q2 23	$2.4B	$648M	$532M	$376M
Q3 23	$2.4B	$643M	$548M	$335M
Q4 23	$2.3B	$619M	$515M	$372M
Q1 24	$2.2B	$626M	$544M	$318M
Q2 24	$2.3B	$578M	$539M	$350M
Q3 24	$2.3B	$533M	$562M	$344M
Q4 24	$2.2B	$523M	$523M	$338M
Q1 25	$1.9B	$523M	$556M	$277M
Q2 25	$2.1B	$557M	$589M	$307M
Q3 25	$2.3B	$572M	$615M	$307M
Q4 25	$2.3B	$566M	$573M	$307M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$752M	$287M	$1.0B
Q2 22	$665M	$278M	$943M
Q3 22	$647M	$331M	$978M
Q4 22	$1.3B	$213M	$1.5B
Q1 23	$507M	$174M	$680M
Q2 23	$629M	$177M	$806M
Q3 23	$1.3B	$255M	$1.6B
Q4 23	$992M	$193M	$1.2B
Q1 24	$1.0B	$164M	$1.2B
Q2 24	$917M	$225M	$1.1B
Q3 24	$1.9B	$169M	$2.0B
Q4 24	$735M	$355M	$1.1B
Q1 25	$755M	$247M	$1.0B
Q2 25	$566M	$242M	$809M
Q3 25	$975M	$182M	$1.2B
Q4 25	$1.3B	$106M	$1.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.21B	+0.3%	+0.5%
Q2 22	1.22B	+0.3%	+0.7%
Q3 22	1.22B	+0.1%	+0.5%
Q4 22	1.22B	+0.3%	+1.0%
Q1 23	1.21B	-1.3%	-0.6%
Q2 23	1.20B	-0.2%	-1.1%
Q3 23	1.21B	+0.3%	-0.9%
Q4 23	1.20B	-0.6%	-1.7%
Q1 24	1.21B	+0.8%	+0.3%
Q2 24	1.19B	-1.5%	-1.0%
Q3 24	1.20B	+0.8%	-0.6%
Q4 24	1.19B	-0.6%	-0.6%
Q1 25	1.19B	-0.1%	-1.4%
Q2 25	1.17B	-1.6%	-1.5%
Q3 25	1.16B	-0.7%	-3.0%
Q4 25	1.15B	-1.0%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$93.1K	45K
Q2 22	$91.5K	45K
Q3 22	$90.6K	45K
Q4 22	$86.1K	45K
Q1 23	$82.9K	45K
Q2 23	$87.1K	45K
Q3 23	$87.6K	45K
Q4 23	$85.3K	45K
Q1 24	$81.4K	45K
Q2 24	$84.4K	45K
Q3 24	$83.4K	45K
Q4 24	$110.3K	32K
Q1 25	$101.7K	32K
Q2 25	$111.9K	32K
Q3 25	$117.5K	32K
Q4 25	$123.5K	30K

Revenue / Employee