Viatris Inc. (VTRS) Income Statement
VTRS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVTRS revenue and net income
Where VTRS's revenue goes
2025Each bar shows an amount and its share of revenue. VTRS kept −24.6% of revenue as net income.
VTRS profit margins
VTRS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.0% | −4.2% | +3.7% | +4.3% |
| Gross profit | −10.8% | −8.3% | +5.7% | +1.7% |
| Operating income | −26,467.3% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −10.9% | −11.0% | −11.7% | −5.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VTRS quarterly EPS vs estimates
Viatris beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.64).
VTRS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.30B | $14.74B | $15.43B | $16.26B | $17.89B | $11.95B | $11.50B | $11.43B | $11.91B | $11.08B |
| Cost of revenue | $9.29B | $9.12B | $8.99B | $9.77B | $12.31B | $8.15B | $7.60B | $7.43B | $7.12B | $6.38B |
| Gross profit | $5.01B | $5.62B | $6.44B | $6.50B | $5.58B | $3.80B | $3.90B | $4.00B | $4.78B | $4.70B |
| Research & development | $965.9M | $808.7M | $805.2M | $662.2M | $681.0M | $512.6M | $639.9M | $704.5M | $783.3M | $826.8M |
| Sales, general & admin | $3.79B | $4.43B | $4.31B | $4.18B | $4.53B | $3.34B | $2.56B | $2.44B | $2.58B | $2.50B |
| Total operating expenses | $7.68B | $5.61B | $5.67B | $4.88B | $5.61B | $4.01B | $3.18B | $3.10B | $3.35B | $4.00B |
| Operating income | −$2.66B | $10.1M | $766.2M | $1.61B | −$34.0M | −$210.8M | $715.5M | $905.6M | $1.44B | $699.2M |
| Interest income | — | — | — | — | — | — | — | — | $6.2M | $12.3M |
| Interest expense | $471.3M | $550.0M | $573.1M | $592.4M | $636.2M | $497.8M | $517.3M | $542.3M | $534.6M | $454.8M |
| Income before taxes | −$3.67B | −$623.2M | $202.9M | $2.81B | −$664.4M | −$721.2M | $154.4M | $298.4M | $903.0M | $121.7M |
| Income taxes | −$150.1M | $11.0M | $148.2M | $734.6M | $604.7M | −$51.3M | $137.6M | −$54.1M | $207.0M | −$358.3M |
| Net income | −$3.51B | −$634.2M | $54.7M | $2.08B | −$1.27B | −$669.9M | $16.8M | $352.5M | $696.0M | $480.0M |
| EBITDA | −$395.4M | $2.64B | $3.52B | $6.43B | $4.48B | $1.99B | $2.69B | $2.95B | $3.24B | $2.10B |
| EPS (diluted) | $2.36 | $2.65 | $2.93 | $3.35 | $3.69 | $4.40 | $4.42 | $4.58 | $4.56 | $4.87 |
| Gross margin | 35.1% | 38.2% | 41.7% | 40.0% | 31.2% | 31.8% | 33.9% | 35.0% | 40.2% | 42.4% |
| Operating margin | −18.6% | 0.1% | 5.0% | 9.9% | −0.2% | −1.8% | 6.2% | 7.9% | 12.1% | 6.3% |
| Net margin | −24.6% | −4.3% | 0.4% | 12.8% | −7.1% | −5.6% | 0.1% | 3.1% | 5.8% | 4.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.76B | $3.52B | $3.70B | $3.76B | $3.58B | $3.25B | $3.53B | $3.75B | $3.80B | $3.66B | $3.84B | $3.94B |
| Cost of revenue | $2.30B | $2.36B | $2.57B | $2.38B | $2.25B | $2.09B | $2.31B | $2.29B | $2.35B | $2.16B | $2.24B | $2.25B |
| Gross profit | $1.46B | $1.16B | $1.13B | $1.38B | $1.33B | $1.16B | $1.22B | $1.46B | $1.45B | $1.50B | $1.60B | $1.69B |
| Research & development | $248.3M | $248.6M | $274.7M | $250.4M | $218.8M | $222.0M | $206.5M | $198.4M | $204.1M | $199.7M | $202.8M | $211.2M |
| Sales, general & admin | $1.13B | $928.8M | $1.03B | $886.6M | $928.7M | $948.1M | $1.05B | $1.00B | $1.36B | $1.02B | $1.61B | $1.05B |
| Total operating expenses | $1.45B | $1.24B | $1.40B | $1.13B | $1.10B | $4.04B | $1.39B | $1.23B | $1.69B | $1.30B | $2.05B | $1.24B |
| Operating income | $6.3M | −$79.7M | −$265.5M | $251.6M | $233.0M | −$2.88B | −$179.8M | $225.9M | −$239.9M | $203.9M | −$454.5M | $451.7M |
| Interest expense | $120.7M | $120.1M | $119.6M | $119.6M | $116.6M | $115.5M | $120.2M | $145.6M | $145.8M | $138.4M | $140.9M | $141.5M |
| Income before taxes | −$64.0M | −$247.3M | −$343.0M | −$7.9M | −$217.1M | −$3.10B | −$526.5M | $90.5M | −$391.8M | $204.6M | −$855.0M | $402.2M |
| Income taxes | $54.8M | −$423.7M | −$2.9M | $120.3M | −$212.5M | −$55.0M | −$10.0M | −$4.3M | −$65.4M | $90.7M | −$89.4M | $70.6M |
| Net income | −$118.8M | $176.4M | −$340.1M | −$128.2M | −$4.6M | −$3.04B | −$516.5M | $94.8M | −$326.4M | $113.9M | −$765.6M | $331.6M |
| EBITDA | $729.0M | $643.9M | $543.4M | $800.2M | $577.8M | −$2.32B | $339.9M | $905.8M | $540.3M | $1.03B | −$69.7M | $1.22B |
| EPS (diluted) | $0.69 | $0.59 | $0.57 | $0.67 | $0.62 | $0.50 | $0.54 | $0.75 | $0.69 | $0.67 | $0.62 | $0.79 |
| Gross margin | 38.8% | 32.9% | 30.6% | 36.8% | 37.2% | 35.7% | 34.4% | 38.9% | 38.1% | 41.1% | 41.6% | 42.9% |
| Operating margin | 0.2% | −2.3% | −7.2% | 6.7% | 6.5% | −88.6% | −5.1% | 6.0% | −6.3% | 5.6% | −11.8% | 11.5% |
| Net margin | −3.2% | 5.0% | −9.2% | −3.4% | −0.1% | −93.5% | −14.6% | 2.5% | −8.6% | 3.1% | −20.0% | 8.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VTRS's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VTRS financial results
In fiscal year 2025 (ended December 31, 2025), Viatris reported revenue of $14.3 billion, down 3.0% from the year before. It had a net loss of $3.5 billion, a net profit margin of −24.6%. Diluted earnings per share came to $2.36. Over five years revenue grew at an average rate of 3.7% a year.
See the VTRS stock overview for the latest quote and news, or the VTRS chart for price history and technical indicators.
VTRS income statement FAQ
What is Viatris's annual revenue?
Viatris reported total revenue of $14.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.0% from $14.7 billion the previous year.
Is Viatris profitable?
No. Viatris reported a net loss of $3.5 billion in fiscal 2025, a net profit margin of −24.6%; its operating margin was −18.6%.
What is Viatris's gross margin?
Viatris's gross margin was 35.1% in fiscal 2025: for every $100 of revenue, Viatris kept $35 after the direct cost of its products and services.
How much does Viatris spend on research and development?
Viatris spent $965.9 million on research and development in fiscal 2025, 6.8% of revenue.
How fast is Viatris growing?
Revenue grew 3.7% a year on average over the last five fiscal years, from $11.9 billion to $14.3 billion.
What are Viatris's earnings per share?
Viatris earned $2.36 per diluted share in fiscal 2025, compared with $2.65 a year earlier.
When will Viatris report its next earnings?
Viatris is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Viatris's fiscal year end?
Viatris's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.