Viatris (VTRS)
Forward P/E is 7.36x against a peer median of 14.76x, a ratio of 0.50x — well below the fair range — with trailing P/E not published and PEG 2.52. Latest-quarter revenue grew 5.0% year over year (PRIMARY, EDGAR); revenue is growing, not shrinking, and the cluster median is positive, so the value-trap check does not block the cheaper label. Delivered demand check: the Biotechnology & pharmaceuticals group's median growth was 9.5% year over year — demand rising, and Viatris grew slower than that median.
What would change this label: Move to FAIRLY PRICED if the forward P/E rises to about 13.28x or above (0.90x the peer median) at unchanged estimates, or if revenue growth falls below 0% year over year for two quarters. Move to OVERVALUED if the forward P/E rises above about 16.97x (1.15x the peer median) without a matching rise in growth.
Viatris makes generic medicines and lower-cost versions of well-known drugs. Its shares cost about 7 times next year's expected earnings, half of what similar companies cost at about 15 times, while its sales grew about 5%. On forward earnings the shares look undervalued.
Both lines start at 100 on 2020-11-12. Over the full window Viatris returned +20.46% and the S&P 500 +117.90% (price returns; dividends not reinvested). Worst peak-to-trough fall for Viatris: -61.3% (2020-12-31 to 2025-04-10). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 7.36x against a peer median of 14.76x, a ratio of 0.50x — well below the fair range — with trailing P/E not published and PEG 2.52. Latest-quarter revenue grew 5.0% year over year (PRIMARY, EDGAR); revenue is growing, not shrinking, and the cluster median is positive, so the value-trap check does not block the cheaper label. Delivered demand check: the Biotechnology & pharmaceuticals group's median growth was 9.5% year over year — demand rising, and Viatris grew slower than that median. The company’s forward P/E is 7.4× against a peer median of 14.8×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Biotechnology & pharmaceuticals group's median latest-quarter revenue growth was 9.5% year over year (SEC filings) — demand rising. Viatris grew slower than that median, at 5.0%. Latest-quarter sales growth was +5.0% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Viatris (VTRS) | $18.85 | 7.4× | — |
| INCY | — | 56.9× | 15.0× |
| ZTS | — | 12.7× | 12.8× |
| BIIB | — | 16.8× | 109.4× |
| MRNA | — | — | — |
| REGN | — | 12.4× | 20.2× |
| Peer median | 14.8× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jun 2026 2026-06-30 | $3.7B | 38.9% | $-119M | -0.10 | $329M |
| Q/E Mar 2026 2026-03-31 | $3.5B | 33.0% | $176M | 0.15 | $348M |
| Q/E Dec 2025 2025-12-31 | $3.7B | 31.1% | — | — | $619M |
| Q/E Sep 2025 2025-09-30 | $3.7B | 36.6% | $-128M | -0.11 | $658M |
| Q/E Jun 2025 2025-06-30 | $3.6B | 37.4% | $-5M | 0.00 | $167M |
| Q/E Mar 2025 2025-03-31 | $3.2B | 35.8% | $-3.0B | -2.55 | $493M |
| Q/E Dec 2024 2024-12-31 | $3.5B | 34.6% | — | — | $342M |
| Q/E Sep 2024 2024-09-30 | $3.7B | 39.0% | $95M | 0.08 | $750M |
| Q/E Jun 2024 2024-06-30 | $3.8B | 38.2% | $-326M | -0.27 | $320M |
| Q/E Mar 2024 2024-03-31 | $3.7B | 41.2% | $114M | 0.09 | $565M |
| Q/E Dec 2023 2023-12-31 | $3.8B | 41.7% | — | — | $314M |
| Q/E Sep 2023 2023-09-30 | $3.9B | 43.0% | $332M | 0.27 | $738M |
The last twelve reported quarters. Full 25-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | Viatris Inc |
| Chief executive | Scott A. Smith (source: https://www.viatris.com/en/about-us/board-of-directors/scott-a-smith) |
| Sector | Health Care — Pharmaceuticals — makes generic medicines and lower-cost versions of well-known branded medicines |
| Share price (Oct 28, 2026) | $18.85 |
| Market value (market cap) | $21.5B — share price times shares outstanding of 1,148,590,864 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $14.7B |
| Net income, last twelve months | — |
| Free cash flow, last twelve months | $2.0B |
| Latest reported quarter | Q/E Jun 2026 (of 25 quarters in the data pack) |
| Six-year price return vs S&P 500 | +20.46% vs +117.90% |
| Worst peak-to-trough fall | -61.3% (2020-12-31 to 2025-04-10) |
What we could not verify
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Free cash flow is absent for one or more quarters: either the filer does not separately tag PP&E purchases in its EDGAR cash-flow facts (common for banks), or — for a successor registrant's newest quarter — the cash-flow lines are year-to-date without the prior-quarter rung needed to difference them. Affected quarters are null in the data, never estimated.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- PE Ratio shown as n/a on statistics page
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0001792044.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0001792044.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/VTRS/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.