Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Viatris Inc (VTRS)
A forensic read on Viatris Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.8
Distress distance
Clean
Earnings quality
5
Forensic signals
-46.0
P / E (ttm)
-23.9%
ROE
$18.9B
Market cap
2.70%
Dividend yield
-3.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Viatris Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.8, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-6.9%
FY2025
Return on invested capital.Return on invested capital is -6.9% in the latest fiscal year and slipping from 3% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
154d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 147 to 154 FY2024→FY2025 (against cost of goods sold; inventory +4% vs +2% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
n/m (stock split)
FY2020–FY2023
Share count (stock split).Diluted share count changed +101% over the last 3 years to FY2023, but that includes a large one-time change around FY2021 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +26.1%/yr figure isn't a real buyback/dilution read here.
1.2% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.2% of revenue and 9% of free cash flow in FY2025. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 5.4% a year and is falling.
$4.0B
FY2022–FY2025
Goodwill impairments.Took $4.0B of goodwill writedowns across 4 years (FY2023 ($580M), FY2024 ($321M), FY2025 ($2.9B)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$14.30B
Revenue Growth YoY-3.0%
Revenue CAGR (3yr)-4.2%
Net Margin-24.6%
Free Cash Flow$1.94B
Return on Equity-23.9%
Debt / Equity0.98x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Viatris Inc's actual 10-K/10-Q/8-K filings?