Teva Pharmaceuticals vs Viatris
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KIRA’s take AI analyst
I put Teva Pharmaceuticals and Viatris side by side, using each one’s latest annual report. Here is what stands out:
- Teva Pharmaceuticals is the larger business, with $17.3B of revenue in fiscal 2025 against $14.3B for Viatris.
- Teva Pharmaceuticals grew revenue faster (4.3%, against −3.0%).
- Teva Pharmaceuticals kept more of each dollar of sales as operating profit (12.5% operating margin, against −18.6%).
- Viatris turned more of its sales into free cash flow (13.6% FCF margin, against 6.7%).
- Teva Pharmaceuticals earned a higher return on the capital invested in it (10.5%, against −7.1%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Teva Pharmaceuticals
TEVA
8/11
Revenue growthGross marginOperating marginNet marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDA
Viatris
VTRS
3/11
5-year growthFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | TEVA FY25 | VTRS FY25 |
|---|---|---|
| Size | ||
| Market cap | $46.5B | $21.3B |
| Revenue | $17.3B | $14.3B |
| Free cash flow | $1.1B | $1.9B |
| Net income | $1.4B | −$3.5B |
| Growth | ||
| Revenue growth | 4.3% | −3.0% |
| 5-year growth | 0.7% | 3.7% |
| Share count change | 2.8% | −1.9% |
| Profitability | ||
| Gross margin | 51.8% | 35.1% |
| Operating margin | 12.5% | −18.6% |
| Net margin | 8.2% | −24.6% |
| FCF margin | 6.7% | 13.6% |
| Return on capital | 10.5% | −7.1% |
| Return on equity | 21.2% | −21.1% |
| Balance sheet | ||
| Net debt | $13.3B | $13.1B |
| Net debt / EBITDA | 4.2x | 96.5x |
| Dividends and buybacks | $0.0M | $501M |
| Valuation & quality | ||
| P/E | 66.6x | — |
| Piotroski F-score | 8 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

