Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing VTRS more generously than it does today.
Analysis OverviewHoldUpdated May 1, 2026
Viatris Inc. (VTRS) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
12
analysts
3 bullish · 1 bearish · 12 covering VTRS
Strong Buy
0
Buy
3
Hold
8
Sell
1
Strong Sell
0
Consensus Target
$15
-4.4% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
12
Published analyst ratings
Valuation Context
6.5x
Forward P/E · Market cap $18.4B
VTRS price targets
Three scenarios for where VTRS stock could go
Current
~$16
Confidence
43 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Viatris Inc.
VTRS · NASDAQHealthcareDrug Manufacturers - Specialty & GenericDecember year-end
Viatris is a global healthcare company that develops, manufactures, and distributes a broad portfolio of medicines including brand-name drugs, generics, biosimilars, and active pharmaceutical ingredients. It generates revenue primarily through pharmaceutical product sales across four geographic segments—Developed Markets, Greater China, JANZ, and Emerging Markets—with a focus on therapeutic areas like noncommunicable and infectious diseases. The company's competitive advantage lies in its extensive global manufacturing and distribution network, diversified product portfolio across multiple therapeutic categories, and established relationships with healthcare providers and payers worldwide.
Market Cap
$18.4B
Revenue TTM
$14.3B
Net Income TTM
-$3.5B
Net Margin
-24.6%
VTRS Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+3.7%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$0.50/$0.49
Revenue
$3.3B/$3.2B
Q3 2025
EPS
$0.62/$0.56
Revenue
$3.6B/$3.5B
Q4 2025
EPS
$0.67/$0.62
Revenue
$3.8B/$3.6B
Q1 2026
EPS
$0.57/$0.53
Revenue
$3.7B/$3.5B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.50/$0.49 | +1.6% | $3.3B/$3.2B | +0.6% |
| Q3 2025 | $0.62/$0.56 | +11.5% | $3.6B/$3.5B | +3.3% |
| Q4 2025 | $0.67/$0.62 | +7.9% | $3.8B/$3.6B | +3.8% |
| Q1 2026 | $0.57/$0.53 | +7.1% | $3.7B/$3.5B | +4.8% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$14.1B
-1.2% YoY
FY2
$13.9B
-1.5% YoY
EPS Outlook
FY1
$-1.62
+46.9% YoY
FY2
$-1.56
+3.9% YoY
Trailing FCF (TTM)$1.8B
FCF Margin: 12.7%
Next Earnings
May 7, 2026
Expected EPS
$0.52
Expected Revenue
$3.4B
VTRS beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
VTRS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $14.3B
Product Mix
Latest annual revenue by segment or product family
Brands
64.4%
-0.2% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Developed Markets Segment
59.8%
-4.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Brands is the largest disclosed segment at 64.4% of FY 2025 revenue, down 0.2% YoY.
Developed Markets Segment is the largest reported region at 59.8%, down 4.6% YoY.
VTRS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $27 — implies +80.4% from today's price.
Upside to Fair Value
80.4%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
VTRS
-5.3x
vs
S&P 500
25.2x
121% discount
vs Healthcare Trailing P/E
VTRS
-5.3x
vs
Healthcare
22.1x
124% discount
vs VTRS 5Y Avg P/E
Today
-5.3x
vs
5Y Average
6.5x
182% discount
Forward PE
6.5x
S&P 500
19.1x
-66%
Healthcare
19.0x
-66%
5Y Avg
—
—
Trailing PE
-5.3x
S&P 500
25.2x
-121%
Healthcare
22.1x
-124%
5Y Avg
6.5x
-182%
PEG Ratio
—
S&P 500
1.75x
—
Healthcare
1.52x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.3x
—
Healthcare
14.1x
—
5Y Avg
8.5x
—
Price/FCF
9.5x
S&P 500
21.3x
-56%
Healthcare
18.7x
-49%
5Y Avg
6.5x
+46%
Price/Sales
1.3x
S&P 500
3.1x
-59%
Healthcare
2.8x
-55%
5Y Avg
0.9x
+39%
Dividend Yield
3.01%
S&P 500
1.88%
+60%
Healthcare
1.40%
+115%
5Y Avg
3.77%
-20%
| Metric | VTRS | S&P 500 | Healthcare | 5Y Avg VTRS |
|---|---|---|---|---|
| Forward PE | 6.5x | 19.1x-66% | 19.0x-66% | — |
| Trailing PE | -5.3x | 25.2x-121% | 22.1x-124% | 6.5x-182% |
| PEG Ratio | — | 1.75x | 1.52x | — |
| EV/EBITDA | — | 15.3x | 14.1x | 8.5x |
| Price/FCF | 9.5x | 21.3x-56% | 18.7x-49% | 6.5x+46% |
| Price/Sales | 1.3x | 3.1x-59% | 2.8x-55% | 0.9x+39% |
| Dividend Yield | 3.01% | 1.88% | 1.40% | 3.77% |
VTRS trades above S&P 500 benchmarks on 0 of 4 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolVTRS Financial Health
Verdict
Stressed
VTRS generates $1.8B in free cash flow at a 12.7% margin — returns 5.7% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$14.3B
Revenue Growth
TTM vs prior year
-3.0%
Gross Margin
Gross profit as a share of revenue
35.1%
Operating Margin
Operating income divided by revenue
-18.6%
Net Margin
Net income divided by revenue
-24.6%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-3.05
Free Cash Flow (TTM)
Cash generation after capex
$1.8B
FCF Margin
FCF as share of revenue — the primary cash quality signal
12.7%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-6.7%
ROA
Return on assets, trailing twelve months
-9.5%
Cash & Equivalents
Liquid assets on the balance sheet
$1.3B
Net Debt
Total debt minus cash
$13.1B
Debt Serviceability
Net debt as a multiple of annual free cash flow
7.2× FCF
~7.2 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
-23.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
5.7%
Dividend
3.0%
Buyback
2.7%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$501M
Dividend / Share
Annualized trailing dividend per share
$0.48
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
1.2B
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageVTRS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Regulatory and Compliance Risks
Viatris faces significant regulatory challenges, including an FDA warning letter and import alert for its Indore facility, which could lead to an estimated $500 million negative impact on total revenues and $385 million on adjusted EBITDA for fiscal year 2025. Non-compliance with regulations may result in fines and operational disruptions.
High Risk
Operational and Manufacturing Risks
The company's reliance on third-party manufacturers and a global supply chain exposes it to operational risks. The FDA's adverse determination regarding the Indore facility underscores vulnerabilities in manufacturing operations, necessitating stringent quality control measures.
High Risk
Legal and Litigation Risks
Viatris is currently facing securities class action lawsuits alleging misrepresentation regarding the financial impact of FDA issues at its Indore facility. Additionally, shareholder litigation alleging non-disclosure of regulatory risks further complicates the company's risk profile.
Medium
Market and Competitive Risks
Viatris operates in a highly competitive pharmaceutical industry characterized by significant pricing pressures. Global economic conditions, including inflation and market consolidation, may adversely affect the company's business and limit future share rerating.
Medium
Financial Risks
The company has a history of earnings volatility and has reported net losses despite generating free cash flow. Goodwill impairments and challenges with the valuation of investments, such as preferred shares in Biocon Biologics, pose additional financial risks.
Lower
Pipeline and Development Risks
Viatris has encountered setbacks in its pipeline, including the failure of its MR-139 Phase 3 trial for blepharitis. While there are promising developments in its ophthalmology pipeline, the success of these projects remains contingent on regulatory approval.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why VTRS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Significant Undervaluation
Viatris is perceived as significantly undervalued, with intrinsic value estimates ranging from $30.90 to $39.24, which is substantially higher than its current market price. This valuation is supported by both Discounted Cash Flow (DCF) and multiples-based analyses.
Diverse Product Portfolio
The company boasts a diverse product portfolio and a global reach, positioning it well to capitalize on the growth of the healthcare sector. Viatris is focusing on key therapeutic areas such as dermatology, ophthalmology, and gastroenterology, indicating strong potential for future growth.
Strategic Cost Savings Initiatives
Viatris has completed a strategic review and is expected to deliver significant cost savings that can be reinvested to enhance its growth profile and long-term competitiveness. This strategic focus is likely to improve operational efficiency and profitability.
Upcoming Regulatory Decisions
The company anticipates regulatory decisions for six product candidates in 2026, which could lead to multiple new revenue streams. This pipeline of potential approvals suggests a promising outlook for future earnings growth.
Attractive Dividend Yield
Viatris offers an attractive dividend yield of 3.24%, which is considered sustainable based on earnings estimates. The company returned over $1 billion to shareholders in 2025 and plans a balanced capital allocation approach for 2026.
Positive Earnings Growth Forecast
Viatris is expected to see earnings growth of 6.97% in the coming year, indicating a positive trajectory for its financial performance. This growth forecast reflects the company's commitment to innovation and market expansion.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
VTRS Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$15.95
52W Range Position
94%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$8.19
+94.7% from the low
52-Week High
$16.47
-3.2% from the high
1 Month
+18.94%
3 Month
+9.40%
YTD
+28.0%
1 Year
+88.1%
3Y CAGR
+17.5%
5Y CAGR
+2.7%
10Y CAGR
-8.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
VTRS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
6.5x
vs 13.7x median
-52% below peer median
Revenue Growth
-1.2%
vs +1.9% median
-160% below peer median
Net Margin
-24.6%
vs 9.0% median
-373% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
VTR VTRS Viatris Inc. | $18.4B | 6.5x | -1.2% | -24.6% | Hold | -4.4% |
TEV TEVA Teva Pharmaceutical Industries Limited | $42.3B | 14.7x | +1.9% | 9.0% | Buy | +7.3% |
AMR AMRX Amneal Pharmaceuticals, Inc. | $4.3B | 13.7x | +8.0% | 2.4% | Buy | +24.8% |
PRG PRGO Perrigo Company plc | $1.7B | 5.8x | -1.9% | -43.5% | Hold | +63.1% |
PFE PFE Pfizer Inc. | $150.8B | 9.0x | -3.3% | 11.8% | Hold | +2.9% |
MRK MRK Merck & Co., Inc. | $280.5B | 22.2x | +3.0% | 28.1% | Buy | +13.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
VTRS Dividend and Capital Return
VTRS returns 5.7% total yield, led by a 3.01% dividend. Buybacks add another 2.7%.
Dividend UnknownFCF Well Covered
Total Shareholder Yield
5.7%
Dividend + buyback return per year
Buyback Yield
2.7%
Dividend Yield
3.01%
Payout Ratio
—
How VTRS Splits Its Return
Div 3.01%
Buyback 2.7%
Dividend 3.01%Buybacks 2.7%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.48
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
0.0%
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$501M
Estimated Shares Retired
31M
Approx. Share Reduction
2.7%
Shares Outstanding
Current diluted share count from the screening snapshot
1.2B
At 2.7%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.12 | — | — | — |
| 2025 | $0.48 | 0.0% | 3.4% | 7.3% |
| 2024 | $0.48 | 0.0% | 1.7% | 5.6% |
| 2023 | $0.48 | 0.0% | 1.9% | 6.3% |
| 2022 | $0.48 | +45.5% | 0.0% | 4.3% |
FAQ
7 questionsVTRS Investor Questions
Common questions answered from live analyst data and company financials.
01Is Viatris Inc. (VTRS) stock a buy or sell in 2026?
Viatris Inc. (VTRS) is rated Hold by Wall Street analysts as of 2026. Of 12 analysts covering the stock, 3 rate it Buy or Strong Buy, 8 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $15, implying -4.4% from the current price of $16.
02What is the VTRS stock price target for 2026?
The Wall Street consensus price target for VTRS is $15 based on 12 analyst estimates. The high-end target is $18 (+12.9% from today), and the low-end target is $12 (-24.8%).
03Is Viatris Inc. (VTRS) stock overvalued in 2026?
VTRS trades at 6.5x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Viatris Inc. (VTRS) stock in 2026?
The primary risks for VTRS in 2026 are: (1) Regulatory and Compliance Risks — Viatris faces significant regulatory challenges, including an FDA warning letter and import alert for its Indore facility, which could lead to an estimated $500 million negative impact on total revenues and $385 million on adjusted EBITDA for fiscal year 2025. (2) Operational and Manufacturing Risks — The company's reliance on third-party manufacturers and a global supply chain exposes it to operational risks. (3) Legal and Litigation Risks — Viatris is currently facing securities class action lawsuits alleging misrepresentation regarding the financial impact of FDA issues at its Indore facility. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Viatris Inc.'s revenue and earnings forecast?
Analyst consensus estimates VTRS will report consensus revenue of $14.1B (-1.2% year-over-year) and EPS of $-1.62 (+46.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $13.9B in revenue.
06When does Viatris Inc. (VTRS) report its next earnings?
Viatris Inc. is expected to report its next earnings on approximately 2026-05-07. Consensus expects EPS of $0.52 and revenue of $3.4B. Over recent quarters, VTRS has beaten EPS estimates 75% of the time.
07How much free cash flow does Viatris Inc. generate?
Viatris Inc. (VTRS) generated $1.8B in free cash flow over the trailing twelve months — a free cash flow margin of 12.7%. VTRS returns capital to shareholders through dividends (3.0% yield) and share repurchases ($501M TTM).