# Viatris Inc. Common Stock (VTRS) — Stock CV

Viatris Inc. is a $20.3B healthcare company. Revenue grew 4.4% over the last year, it currently loses money, and its net debt equals ~5.7 years of free cash flow.

> Viatris was formed in November 2020 through the combination of Upjohn, a wholly owned subsidiary of Pfizer that specialized in off-patent drugs, and Mylan, a global pharmaceutical manufacturer that focused on generic and specialty drugs.

## Identity

- **Ticker**: VTRS
- **Sector**: Healthcare
- **Industry**: Pharmaceutical Preparations
- **Headquarters**: CANONSBURG, PA
- **Employees**: 30 000
- **Website**: https://www.viatris.com
- **Market cap**: $20.3B
- **Last price**: $17.64
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $14.7B
- **Net income**: -$411M
- **Free cash flow**: $1.95B
- **Net debt**: $11.2B
- **P/E**: 5.5
- **Revenue growth (YoY)**: 4.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 70 |
| Growth | 0 |
| Profitability | 0 |
| Health | 26 |
| Quality | 60 |
| Moat | 38 |

## Qualifications (beginner checklist) — 6 of 11 passed

- [x] Revenue growing — +4.4% YoY
- [ ] Profitable — -$411M TTM
- [ ] Profit growing — -454.2% YoY
- [x] Generates cash — $1.95B TTM
- [ ] Debt under control — ~5.7y of cash flow to repay
- [x] Established company — $20.3B market cap
- [x] Not printing shares — -2.6% shares over ~5y
- [ ] Proven track record — 2/7 profitable years
- [ ] Financially stable — Altman Z 1.0 — distress
- [x] Pays a dividend — yield 2.75%
- [x] Valuation not extreme — P/E 5.5

## Experience (career milestones)

- **FY2022** — Turned profitable: $2.08B net income after a loss year
- **FY2022** — Best year on record: $2.08B net income
- **FY2020** — Revenue crossed $1B: $11.9B for the year
- **FY2020** — Revenue crossed $10B: $11.9B for the year
- **FY2020** — Positive free cash flow every year since: 6-year streak

## Strengths

- High gross margin (40.3%)

## Watch-outs

- Not profitable — 2.8% net margin
- Altman Z-Score 0.99 — elevated financial-distress risk
- Net debt would take ~6.2 years of free cash flow to repay
- Thin interest coverage (-6.8×)
- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $17.9B | -$1.27B | $2.56B |
| FY2022 | $16.3B | $2.08B | $2.55B |
| FY2023 | $15.4B | $54.7M | $2.42B |
| FY2024 | $14.7B | -$634M | $1.98B |
| FY2025 | $14.3B | -$3.51B | $1.94B |

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Source: https://stockcv.com/VTRS — derived from company filings; may be delayed or incomplete. Information, not investment advice.