Teva Pharmaceuticals vs Viatris
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The short version
- 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%).
| Latest fiscal year | TEVA · FY25 | VTRS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $45.9B | $20.9B |
| 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 | 65.7x | — |
| Piotroski F-score | 8 | 4 |
Revenue
FY16
TEVA $21.9B
VTRS $11.1B
FY17
TEVA $21.9B
VTRS $11.9B
FY18
TEVA $18.3B
VTRS $11.4B
FY19
TEVA $16.9B
VTRS $11.5B
FY20
TEVA $16.7B
VTRS $11.9B
FY21
TEVA $15.9B
VTRS $17.9B
FY22
TEVA $14.9B
VTRS $16.3B
FY23
TEVA $15.8B
VTRS $15.4B
FY24
TEVA $16.5B
VTRS $14.7B
FY25
TEVA $17.3B
VTRS $14.3B
TEVA
VTRS
Operating margin
FY16
TEVA 9.8%
VTRS 6.3%
FY17
TEVA −80.0%
VTRS 12.1%
FY18
TEVA −9.0%
VTRS 7.9%
FY19
TEVA −2.6%
VTRS 6.2%
FY20
TEVA −21.4%
VTRS −1.8%
FY21
TEVA 10.8%
VTRS −0.2%
FY22
TEVA −14.7%
VTRS 9.9%
FY23
TEVA 2.7%
VTRS 5.0%
FY24
TEVA −1.8%
VTRS 0.1%
FY25
TEVA 12.5%
VTRS −18.6%
TEVA
VTRS
Free cash flow
FY16
TEVA $3.0B
VTRS $1.7B
FY17
TEVA $1.4B
VTRS $1.8B
FY18
TEVA $1.8B
VTRS $2.1B
FY19
TEVA $223M
VTRS $1.6B
FY20
TEVA $638M
VTRS $989M
FY21
TEVA $236M
VTRS $2.6B
FY22
TEVA $1.0B
VTRS $2.6B
FY23
TEVA $842M
VTRS $2.5B
FY24
TEVA $749M
VTRS $2.0B
FY25
TEVA $1.1B
VTRS $1.9B
TEVA
VTRS
Return on capital
FY16
TEVA 2.1%
VTRS 3.4%
FY17
TEVA −23.0%
VTRS 4.2%
FY18
TEVA −2.8%
VTRS 3.4%
FY19
TEVA −0.8%
VTRS 1.4%
FY20
TEVA −7.5%
VTRS −0.5%
FY21
TEVA 3.5%
VTRS −0.1%
FY22
TEVA −5.9%
VTRS 2.9%
FY23
TEVA 1.3%
VTRS 1.0%
FY24
TEVA −1.1%
VTRS 0.0%
FY25
TEVA 10.5%
VTRS −7.1%
TEVA
VTRS
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.