Viatris
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 0/4
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Owner earnings | $-1.10bn | positive | ✗ |
| Return on equity | -23.9% | median 11.7% | ✗ |
| Debt to equity | 0.98x | median 0.79x | ✗ |
| Operating margin | -18.7% | median 15.0% | ✗ |
Passes 0 of 4. To be clear: Warren Buffett has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 0/3
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Return on capital employed | -9.1% | median 10.1% | ✗ |
| Cash conversion | — | median 1.78x | — |
| Operating margin | -18.7% | median 15.0% | ✗ |
| Debt to equity | 0.98x | median 0.79x | ✗ |
Passes 0 of 3. To be clear: Terry Smith has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 0/3
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Return on capital employed | -9.1% | median 10.1% | ✗ |
| Return on equity | -23.9% | median 11.7% | ✗ |
| Operating margin | -18.7% | median 15.0% | ✗ |
Passes 0 of 3. To be clear: Charlie Munger has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 0/3
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Return on equity | -23.9% | median 11.7% | ✗ |
| Debt to equity | 0.98x | median 0.79x | ✗ |
| Cash conversion | — | median 1.78x | — |
| Return on equity, sustained | 0 of 8 | 8 of 10 above median | ✗ |
Passes 0 of 3. To be clear: Chuck Akre has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 0/4
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Operating margin | -18.7% | median 15.0% | ✗ |
| Net margin | -24.7% | median 10.2% | ✗ |
| Return on capital employed | -9.1% | median 10.1% | ✗ |
| Operating margin, held or improving | -18.7% | 10-yr median 5.0% | ✗ |
Passes 0 of 4. To be clear: Philip Fisher has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 1/2
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Current ratio | 1.38x | median 1.25x | ✓ |
| Debt to equity | 0.98x | median 0.79x | ✗ |
Passes 1 of 2. To be clear: Walter Schloss has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 0/2
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Current ratio | 1.38x | 2.00x published | ✗ |
| Long-term debt to working capital | 4.63x | 1.00x published | ✗ |
Passes 0 of 2. To be clear: Benjamin Graham has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Joel Greenblatt 0/1
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Return on capital employed | -9.1% | median 10.1% | ✗ |
Passes 0 of 1. To be clear: Joel Greenblatt has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 0/2
| Measure | VTRS | Checked against | |
|---|---|---|---|
| Debt to equity | 0.98x | median 0.79x | ✗ |
| Net margin | -24.7% | median 10.2% | ✗ |
Passes 0 of 2. To be clear: Peter Lynch has never said anything about Viatris. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | negative | whyLost $3.00 per share — no earnings to pay from. |
| Operating cash flow | 24.9% | whyBefore capital spending. |
| Free cash flow | 29.8% | whyAfter maintaining the business. |
Spread between highest and lowest: 4.9 percentage points. Same filings, different denominators.
Coverage rating 52 / 100 — Tight. ? Peer standing 29/50Direction 10/30Stability 14/20
Free cash flow payout, last 5 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 29.8% |
| 2024-12-31 | 29.7% |
| 2023-12-31 | 23.4% |
| 2022-12-31 | 22.8% |
| 2021-12-31 | 15.8% |
Coverage has deteriorated three years running, 22.8% to 29.8%. Still covered, but moving the wrong way.
58% of the 38 health care here pay out more.
The arithmetic
- GAAP earnings — dividends declared per share $0.480 ÷ diluted EPS $-3.00
- Operating cash flow — dividends paid $577m ÷ operating cash flow $2,316m
- Free cash flow — dividends paid $577m ÷ (operating cash flow $2,316m − capex $379m)
Where the figures came from
- 10-K filed 2026-02-26 · accession 0001792044-26-000013
All public at sec.gov — you should not have to take our word for it.
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: rated tight · when it files.
When this changes
Every figure above is recomputed whenever Viatris files. The monthly letter carries what filed, what moved, and one finding computed across every company here.