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About Viatris Viatris is a global healthcare company whose breadth and scale we believe make it uniquely positioned to address healthcare needs globally. With a mission to empower people worldwide to live healthier at every stage of life, Viatris supplies high-quality medicines to approximately 1 billion patients around the world each year.
The business is unprofitable at the operating level (-18.62% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.0% YoY. Margins deteriorated 18.7pp alongside, both lines moving the wrong way.
ROIC dropped from 0.02% to -6.75%, capital efficiency is deteriorating. Net debt of $13.34B represents 6.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$14.56B
▼ -3.0% YoY
Net Income (TTM)
-$297M
▼ -454.2% YoY
Op. Margin
0.96%
▼ -18.7pp YoY
ROIC
0.37%
▼ -6.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.79B
▼ -2.0% YoY
Op. Cash Flow (TTM)
$2.17B
▲ +0.6% YoY
Net Debt
$12.81B
Cash & Equiv.
$1.80B
5Y CAGR: +3.7%
5Y CAGR: +14.4%
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