Forensic Analysis · Pharmaceuticals & Biotechnology · as of Nov 9, 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
0.7
Distress distance
Clean
Earnings quality
3
Forensic signals
-21.1%
ROE
-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 (auditor quality, say on pay, board independence, going concern). 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 0.7, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-6.4%
FY2025
Return on invested capital.Return on invested capital is -6.4% in the latest fiscal year and slipping across FY2023–FY2025 from 1.2%. After-tax operating profit was $498M in FY2023 and ($2.1B) in FY2025, with operating income at 5.0% of revenue in FY2023, 0.1% in FY2024 and -18.6% in FY2025. The capital base behind it came down -20% across FY2023–FY2025, from $40.9B to $32.9B, so this return is struck on a smaller base than it started on. FY2023's operating profit carried a $580M goodwill write-off that took about 0.9 points off that year's return, and FY2025's carried a $2.9B goodwill write-off that took about 7.1 points off the latest; so, net of each other, the two charges take about 6.2 points off the -7.6-point change across FY2023–FY2025. FY2024's operating profit carried a $321M goodwill write-off that alone took about 0.7 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
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.
$3.8B
FY2023–FY2025
Goodwill impairments.Took $3.8B of goodwill writedowns across 3 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 (2yr)-3.7%
Net Margin-24.6%
Free Cash Flow$1.94B
Return on Equity-21.1%
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?