VTRSViatris

Health care · Pharmaceuticals · Nasdaq

Viatris is a global healthcare company whose breadth and scale we believe make it uniquely positioned to address healthcare needs globally. 10-K, Item 1

Headquarters: Canonsburg, PA
CEO: Scott A. Smith
Next results: around Feb 25, 2027

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VTRS and 9 peers, year by year

The 9 Health care companies closest to VTRS in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
VTRS Viatris	FY2025	$14.3B	−3.0%	35.1%	−18.6%	−24.6%	13.5%	−23.9%	0.98
LH Labcorp	FY2025	$14.0B	+7.2%	28.8%	9.9%	6.3%	8.6%	10.2%	0.65
DVA DaVita	FY2025	$13.6B	+6.5%	-	15.0%	5.5%	9.6%	n/m	n/m
HSIC Henry Schein	FY2025	$13.2B	+4.0%	31.1%	5.0%	3.0%	4.3%	12.3%	0.96
VRTX Vertex Pharmaceuticals	FY2025	$12.0B	+8.9%	-	34.8%	32.9%	26.6%	21.2%	0.00
REGN Regeneron Pharmaceuticals	FY2025	$14.3B	+1.0%	-	24.9%	31.4%	28.4%	14.4%	0.06
IQV IQVIA	FY2025	$16.3B	+5.9%	-	13.4%	8.3%	12.6%	20.9%	2.42
DGX Quest Diagnostics	FY2025	$11.0B	+11.8%	-	14.1%	9.0%	12.3%	13.8%	0.79
BAX Baxter International	FY2025	$11.2B	+5.7%	30.1%	−2.7%	−8.5%	3.0%	−15.6%	1.54
ISRG Intuitive Surgical	FY2025	$10.1B	+20.5%	66.0%	29.3%	28.4%	24.7%	16.0%	-

Revenuepeer median $13.2B

Sales growthpeer median +6.5%

Gross marginpeer median 30.6%

ISRG 66.0%
VTRS 35.1%
HSIC 31.1%
BAX 30.1%
LH 28.8%
DVA -
VRTX -
REGN -
IQV -
DGX -

Operating marginpeer median 14.1%

Net marginpeer median 8.3%

FCF marginpeer median 12.3%

Return on equitypeer median 14.1%

Debt / equitypeer median 0.79

IQV 2.42
BAX 1.54
VTRS 0.98
HSIC 0.96
DGX 0.79
LH 0.65
REGN 0.06
VRTX 0.00
DVA n/m
ISRG -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2018 to FY2025

Revenue as reported in the 10-K.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	$11.4B	$11.5B	$11.9B	$17.9B	$16.3B	$15.4B	$14.7B	$14.3B
LH Dec	$11.3B	$11.6B	$14.0B	$11.9B	-	$12.2B	$13.0B	$14.0B
DVA Dec	$11.4B	$11.4B	$11.6B	$11.6B	$11.6B	$12.1B	$12.8B	$13.6B
HSIC Dec	$13.2B	$10.0B	$10.1B	$12.4B	$12.6B	$12.3B	$12.7B	$13.2B
VRTX Dec	$3.0B	$4.2B	$6.2B	$7.6B	$8.9B	$9.9B	$11.0B	$12.0B
REGN Dec	$5.1B	$6.6B	$8.5B	$16.1B	$12.2B	$13.1B	$14.2B	$14.3B
IQV Dec	$10.4B	$11.1B	$11.4B	$13.9B	$14.4B	$15.0B	$15.4B	$16.3B
DGX Dec	$7.5B	$7.7B	$9.4B	$10.8B	$9.9B	$9.3B	$9.9B	$11.0B
BAX Dec	$11.1B	$11.4B	$11.7B	$12.1B	$10.1B	$10.4B	$10.6B	$11.2B
ISRG Dec	$3.7B	$4.5B	$4.4B	$5.7B	$6.2B	$7.1B	$8.4B	$10.1B
Peer median	$10.4B	$10.0B	$10.1B	$11.9B	$10.8B	$12.1B	$12.7B	$13.2B

Sales growth, FY2018 to FY2025

Revenue against the fiscal year before.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	-	+0.9%	+4.0%	+50.7%	−9.0%	−5.1%	−4.5%	−3.0%
LH Dec	+9.9%	+2.0%	+21.0%	−9.7%	-	+2.5%	+7.0%	+7.2%
DVA Dec	+4.9%	−0.1%	+1.4%	+0.6%	−0.1%	+4.6%	+5.6%	+6.5%
HSIC Dec	+6.0%	+6.0%	+1.3%	+22.6%	+2.0%	−2.4%	+2.7%	+4.0%
VRTX Dec	+22.5%	+36.6%	+49.1%	+22.1%	+17.9%	+10.5%	+11.7%	+8.9%
REGN Dec	+14.3%	+27.4%	+29.6%	+89.1%	−24.3%	+7.8%	+8.3%	+1.0%
IQV Dec	+7.3%	+6.5%	+2.4%	+22.1%	+3.9%	+4.0%	+2.8%	+5.9%
DGX Dec	+1.7%	+2.6%	+22.1%	+14.3%	−8.4%	−6.4%	+6.7%	+11.8%
BAX Dec	+4.9%	+2.4%	+2.7%	+9.5%	+19.4%	+3.0%	+2.7%	+5.7%
ISRG Dec	+18.7%	+20.3%	−2.7%	+31.0%	+9.0%	+14.5%	+17.2%	+20.5%
Peer median	+7.3%	+6.0%	+2.7%	+22.1%	+2.9%	+4.0%	+6.7%	+6.5%

Gross margin, FY2018 to FY2025

Gross profit / revenue.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	35.0%	33.9%	31.8%	31.2%	40.0%	41.7%	38.2%	35.1%
LH Dec	28.0%	28.1%	35.4%	31.3%	-	27.7%	27.9%	28.8%
DVA Dec	-	-	-	-	-	-	-	-
HSIC Dec	22.0%	31.0%	27.8%	29.6%	30.3%	31.3%	31.7%	31.1%
VRTX Dec	-	-	-	-	-	-	-	-
REGN Dec	-	-	-	-	-	-	-	-
IQV Dec	-	-	-	-	-	-	-	-
DGX Dec	34.6%	34.8%	38.5%	-	-	-	-	-
BAX Dec	42.9%	41.9%	39.3%	38.9%	35.3%	40.1%	37.5%	30.1%
ISRG Dec	69.9%	69.4%	65.6%	69.3%	67.4%	66.4%	67.5%	66.0%
Peer median	34.6%	34.8%	38.5%	35.1%	35.3%	35.7%	34.6%	30.6%

Operating margin, FY2018 to FY2025

Operating income / revenue.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	7.9%	6.2%	−1.8%	−0.2%	9.9%	5.0%	0.1%	−18.6%
LH Dec	11.7%	11.5%	17.5%	12.1%	-	6.0%	8.4%	9.9%
DVA Dec	13.4%	14.4%	14.7%	15.5%	11.5%	13.2%	16.3%	15.0%
HSIC Dec	4.5%	7.2%	5.3%	6.9%	5.9%	5.0%	4.9%	5.0%
VRTX Dec	20.8%	28.8%	46.0%	36.7%	48.2%	38.8%	−2.1%	34.8%
REGN Dec	49.3%	33.7%	42.1%	55.7%	38.9%	30.9%	28.1%	24.9%
IQV Dec	7.1%	7.0%	6.4%	10.0%	12.5%	13.2%	14.3%	13.4%
DGX Dec	14.6%	15.9%	20.9%	22.1%	14.4%	13.6%	13.6%	14.1%
BAX Dec	14.3%	15.6%	13.8%	11.1%	−28.3%	6.8%	0.1%	−2.7%
ISRG Dec	32.2%	30.7%	24.1%	31.9%	25.3%	24.8%	28.1%	29.3%
Peer median	14.3%	15.6%	17.5%	15.5%	13.5%	13.2%	13.6%	14.1%

Net margin, FY2018 to FY2025

Net income / revenue.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	3.1%	0.1%	−5.6%	−7.1%	12.8%	0.4%	−4.3%	−24.6%
LH Dec	7.8%	7.1%	11.1%	10.8%	-	3.4%	5.7%	6.3%
DVA Dec	1.4%	7.1%	6.7%	8.4%	4.8%	5.7%	7.3%	5.5%
HSIC Dec	4.1%	7.0%	4.0%	5.1%	4.3%	3.4%	3.1%	3.0%
VRTX Dec	68.8%	28.3%	43.7%	30.9%	37.2%	36.7%	−4.9%	32.9%
REGN Dec	47.5%	32.3%	41.3%	50.2%	35.6%	30.1%	31.1%	31.4%
IQV Dec	2.5%	1.7%	2.5%	7.0%	7.6%	9.1%	8.9%	8.3%
DGX Dec	9.8%	11.1%	15.2%	18.5%	9.6%	9.2%	8.8%	9.0%
BAX Dec	13.9%	8.8%	9.4%	10.6%	−24.2%	25.6%	−6.1%	−8.5%
ISRG Dec	30.3%	30.8%	24.3%	29.9%	21.3%	25.2%	27.8%	28.4%
Peer median	9.8%	8.8%	11.1%	10.8%	8.6%	9.2%	7.3%	8.3%

Free cash flow, FY2018 to FY2025

Cash from operations minus capital spending.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	$2.1B	$1.6B	$988.8M	$2.6B	$2.6B	$2.5B	$2.0B	$1.9B
LH Dec	$925.6M	$1.0B	$1.8B	$1.5B	-	$874.1M	$1.1B	$1.2B
DVA Dec	$784.5M	$1.3B	$1.3B	$1.3B	$961.1M	$1.5B	$1.5B	$1.3B
HSIC Dec	$613.4M	$577.9M	$550.0M	$631.0M	$506.0M	$353.0M	$700.0M	$573.0M
VRTX Dec	$1.2B	$1.5B	$3.0B	$2.4B	$3.9B	$3.3B	−$790.3M	$3.2B
REGN Dec	$1.8B	$2.0B	$2.0B	$6.5B	$4.4B	$3.9B	$3.7B	$4.1B
IQV Dec	$795.0M	$835.0M	$1.3B	$2.3B	$1.6B	$1.5B	$2.1B	$2.1B
DGX Dec	$817.0M	$843.0M	$1.6B	$1.8B	$1.3B	$864.0M	$909.0M	$1.4B
BAX Dec	$1.4B	$1.4B	$1.2B	$1.5B	$834.0M	$1.3B	$573.0M	$332.0M
ISRG Dec	$982.2M	$1.2B	$1.1B	$1.7B	$958.4M	$749.6M	$1.3B	$2.5B
Peer median	$925.6M	$1.2B	$1.3B	$1.7B	$1.1B	$1.3B	$1.1B	$1.4B

FCF margin, FY2018 to FY2025

Free cash flow / revenue.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	18.3%	13.8%	8.3%	14.3%	15.9%	16.4%	13.4%	13.5%
LH Dec	8.2%	9.0%	12.5%	12.9%	-	7.2%	8.4%	8.6%
DVA Dec	6.9%	11.5%	11.3%	11.1%	8.3%	12.3%	11.4%	9.6%
HSIC Dec	4.6%	5.8%	5.4%	5.1%	4.0%	2.9%	5.5%	4.3%
VRTX Dec	38.5%	35.9%	48.2%	31.8%	44.0%	33.8%	−7.2%	26.6%
REGN Dec	35.2%	30.5%	23.6%	40.6%	36.3%	29.5%	25.8%	28.4%
IQV Dec	7.6%	7.5%	11.8%	16.6%	11.0%	10.0%	13.7%	12.6%
DGX Dec	10.8%	10.9%	16.8%	17.0%	13.3%	9.3%	9.2%	12.3%
BAX Dec	12.2%	12.4%	9.9%	12.6%	8.3%	12.5%	5.4%	3.0%
ISRG Dec	26.4%	26.2%	26.2%	30.6%	15.4%	10.5%	15.6%	24.7%
Peer median	10.8%	11.5%	12.5%	16.6%	12.2%	10.5%	9.2%	12.3%

Return on equity, FY2018 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	2.9%	n/m	−2.9%	−6.2%	9.9%	0.3%	−3.4%	−23.9%
LH Dec	12.5%	10.8%	16.5%	12.7%	-	5.3%	9.3%	10.2%
DVA Dec	4.3%	38.0%	55.9%	129.5%	78.7%	65.5%	n/m	n/m
HSIC Dec	18.1%	23.2%	12.1%	18.4%	15.6%	11.4%	11.5%	12.3%
VRTX Dec	47.3%	19.3%	31.2%	23.2%	23.9%	20.6%	−3.3%	21.2%
REGN Dec	27.9%	19.1%	31.9%	43.0%	19.1%	15.2%	15.0%	14.4%
IQV Dec	3.9%	3.2%	4.6%	16.0%	18.9%	22.2%	22.6%	20.9%
DGX Dec	14.1%	15.2%	21.2%	31.0%	16.1%	13.5%	12.9%	13.8%
BAX Dec	19.7%	12.7%	12.7%	14.1%	−41.7%	31.6%	−9.3%	−15.6%
ISRG Dec	16.9%	16.7%	10.9%	14.3%	12.0%	13.5%	14.1%	16.0%
Peer median	16.9%	16.7%	16.5%	18.4%	17.5%	15.2%	12.2%	14.1%

Debt / equity, FY2018 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	-	n/m	1.13	1.13	0.91	0.89	0.75	0.98
LH Dec	0.85	0.87	0.61	0.53	-	0.64	0.79	0.65
DVA Dec	2.73	3.80	5.84	11.79	12.53	7.95	n/m	n/m
HSIC Dec	0.66	0.25	0.21	0.25	0.33	0.64	0.75	0.96
VRTX Dec	-	-	-	-	-	-	-	0.00
REGN Dec	-	0.00	0.18	0.11	0.09	0.08	0.07	0.06
IQV Dec	1.64	1.94	2.09	2.01	2.21	2.24	2.30	2.42
DGX Dec	0.75	0.85	0.59	0.62	0.68	0.75	0.92	0.79
BAX Dec	0.44	0.68	0.72	1.99	2.91	1.65	2.20	1.54
ISRG Dec	-	-	-	-	-	-	-	-
Peer median	0.80	0.85	0.61	0.62	1.44	0.75	0.85	0.79

EPS (diluted), FY2018 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VTRS Dec	$0.68	$0.03	−$1.11	−$1.05	$1.71	$0.05	−$0.53	−$3.00
LH Dec	$8.61	$8.35	$15.88	$13.97	-	$4.77	$8.84	$10.46
DVA Dec	$0.92	$5.27	$6.31	$8.90	$5.85	$7.42	$10.73	$9.84
HSIC Dec	$3.49	$4.65	$2.82	$4.45	$3.91	$3.16	$3.05	$3.27
VRTX Dec	$8.09	$4.51	$10.29	$9.01	$12.82	$13.89	−$2.08	$15.32
REGN Dec	$21.29	$18.46	$30.52	$71.97	$38.22	$34.77	$38.34	$41.48
IQV Dec	$1.24	$0.96	$1.43	$4.95	$5.72	$7.29	$7.49	$7.84
DGX Dec	$5.29	$6.28	$10.47	$15.55	$7.97	$7.49	$7.69	$8.75
BAX Dec	$2.83	$1.93	$2.13	$2.53	−$4.83	$5.23	−$1.27	−$1.87
ISRG Dec	$3.16	$3.85	$2.94	$4.66	$3.65	$5.03	$6.42	$7.87
Peer median	$3.49	$4.65	$6.31	$8.90	$5.79	$7.29	$7.49	$8.75

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out VTRS and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on VTRS in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/VTRS/export.csv") into a cell.