VTRS Viatris Inc. - Common Stock
NASDAQ · Pharmaceuticals · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026VTRS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| Oct. 9, 2003 | 3-for-2 | Forward |
| Jan. 28, 2003 | 3-for-2 | Forward |
| Aug. 16, 1995 | 3-for-2 | Forward |
| Aug. 3, 1992 | 2-for-1 | Forward |
About Viatris Inc. - Common Stock Company overview from Wikipedia
Viatris Inc. is an American global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. The corporation was formed through the merger of Mylan and Upjohn, a legacy division of Pfizer, on November 16, 2020.
The name of the corporation comes from the Latin words via, meaning path, and tris, which means three, referring to the path to three main objectives the corporation set: expanding access to medicines, meeting patient needs through innovation, and earning the trust of the healthcare community.
Viatris ranked 254th on the 2021 Fortune 500 rankings of the largest United States corporations based on its 2020 total revenue. In 2026, Viatris ranked 100 on Time Magazine's World's Most Impactful Companies.
History
On November 16, 2020, Upjohn merged with Mylan in a Reverse Morris Trust transaction and changed its name to Viatris. At that time, Michael Goettler became chief executive officer. Following the combination, the company began trading on the NASDAQ using the ticker symbol VTRS. In December 2020, the company announced a cost-reducing restructuring plan that would impact up to 20% of its global workforce, or 9,000 jobs at its facilities around the world.
In 2021, Viatris was ranked 5th by Fortune on its annual "Change the World" list for having "transformed the treatment of HIV around the world in the [previous] five years through the first low-cost antiretroviral drug for first-line treatment of HIV and a children's version in the form of fruit-flavored tablets that dissolve in liquid. In February 2022, Viatris announced an agreement where it will contribute to Biocon Biologics its biosimilars portfolio and related commercial and operational capabilities in exchange for up to $3.335 billion, including a stake of at least 12.9% in Biocon Biologics. The transaction was completed in November 2022. In November 2022, the business agreed to acquire Oyster Point Pharma and Famy Life Sciences for an aggregate of $700–750 million to create an ophthalmology division. The acquisitions closed in January 2023.
From 2021 to 2025, Viatris was recognized by Forbes as one of the world's best employers and in 2021 by Newsweek as one of America's most responsible companies. On April 1, 2023, Scott A. Smith became Viatris' CEO, succeeding Michael Goettler. Smith previously served on the company's board since 2022. In April 2023, Viatris was recognized by LinkedIn as one of the 25 best companies to work for in India, and one of the 25 best companies offering career development in Ireland.In May 2023 and 2024, USA Today included Viatris in its list of 450 US companies that have reduced their greenhouse gas emissions intensity from 2019 to 2021. In June 2023, Viatris was named to the Forbes Global 2000 list of the world's largest companies. In October 2023, Viatris reached agreements to divest from almost all of its OTC business, its women’s healthcare business, and its India-based active pharmaceutical ingredients business for a total of about $3.6 billion.
In late December 2024, Viatris disclosed that the U.S. FDA had issued a warning letter and an import alert concerning the company's drug-making facility in Indore, India. The import alert affects 11 actively distributed products, which will no longer be accepted into the U.S. until the warning letter is lifted, while four products were conditionally exempted due to shortages. The violations cited by the FDA included subpar quality control and improper management of manufacturing defect. In response, the company announced that it has taken corrective and preventative actions.
Predecessors
The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
Products
The company produces and sells a variety of medicines, with 1,400 approved therapeutic molecules in its portfolio. It owns brands (like Viagra, Xanax, Lipitor), generics, including branded and complex generics, biosimilars, and over-the-counter (OTC) drugs and active pharmaceutical ingredients. Viatris products cover therapeutic areas including cardiovascular, infectious disease, oncology, immunology, CNS and anesthesia, women's healthcare, diabetes and metabolism, gastroenterology, respiratory and allergy, and dermatology.
The following products have been newly launched or received regulatory approvals since Viatris was established include:
Dolutegravir: In December 2020, received FDA approval to treat children with HIV/AIDS in low to middle income countries. The formulation is strawberry-flavored to make it easier to give to children and was made available at a 75% discount compared to previous treatments.
Breyna (budesonide and formoterol fumarate dihydrate inhalation aerosol): In March 2022, received approval from the US FDA in March 2022 as the first generic version of Symbicort for the treatment of asthma and COPD.
GA Depot (long-acting version of glatiramer acetate): In August 2023, received New Drug Application acceptance from the US FDA as a once-monthly injection for the treatment of relapsing forms of multiple sclerosis.
Abacavir/dolutegravir/lamivudine: In September 2023, received tentative US FDA approval for a New Drug Application through the President's Emergency Plan for AIDS Relief (PEPFAR) for the treatment of HIV-1 infection in pediatric patients.
Ryzumvi (phentolamine ophthalmic solution 0.75%): In September 2023, received FDA approval for the treatment of mydriasis caused by adrenergic agonist or parasympatholytic agents or a combination of those drugs. It was previously known as Nyxol.
Partnerships
Following the formation of Viatris, the company became a member of the Biosimilars Forum, a trade organization that advocates for greater biosimilar usage. Viatris partnered with the American College of Cardiology, the NCD Alliance, and the World Heart Federation to create the NCD Academy, a platform to help fight non-communicable diseases around the world.
In December 2020, the company worked with Sesame Workshop to create resources to help children and their caregivers manage their social and emotional needs impacted by the COVID-19 pandemic. In April 2021, the company partnered with Atomo Diagnostics and Unitaid to expand access to HIV self-testing to 135 countries and lower the price of the tests by around 50%.
In February 2024, Viatris entered into an agreement with Idorsia to collaborate on global research and development and the commercialization rights to Phase 3 pharmaceuticals selatogrel, a cardiac medication, and cenerimod, a novel immunology medication used to treat systemic lupus erythematosus. The agreement includes the potential to add more assets in the future.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VTRS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -4.25Y avg ≈36.5 | ≈36.5 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VTRS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 34.8% | · | · | · | |
| Operating Margin (TTM) | -0.59% | · | 8.2% | Weak | |
| EBITDA Margin (TTM) | 18.4% | · | 5.2% | Weak | |
| Pretax Margin (TTM) | -4.5% | · | 8.1% | Weak | |
| Net Profit Margin | -24.6% | · | 3.3% | Weak | |
| ROA | -8.9% | · | 5.9% | Weak | |
| ROE | -23.2% | · | 12.2% | Weak | |
| ROIC | -8.8% | · | -0.21% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VTRS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.9 | · | 1.2 | Low debt | |
| Current Ratio (MRQ) | 1.6 | · | 1.6 | In line | |
| Quick Ratio | 0.6 | · | 0.9 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.8 | · | 1.2 | Low debt | |
| Interest Coverage | -5.7 | · | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | VTRS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -3.0%5Y avg ≈5.6% | ≈5.6% | · | · | |
| Revenue CAGR 3Y | -4.2%5Y avg ≈-0.52% | ≈-0.52% | · | · | |
| Revenue CAGR 5Y | 3.7% | · | · | · | |
| EPS YoY | -97.1% | · | · | · | |
| Net Income YoY | -97.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VTRS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | · | 0.5 | Weak | |
| Inventory Turnover | 2.4 | · | 1.4 | Top tier | |
| Receivables Turnover | 4.6 | · | 5.4 | Weak | |
| Revenue / Employee | ≈$476.7K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 21, 2026 | $0.12 | USD | ≈2.9% |
| May 22, 2026 | $0.12 | USD | ≈2.9% |
| Mar 9, 2026 | $0.12 | USD | ≈3.4% |
| Nov 24, 2025 | $0.12 | USD | ≈4.5% |
| Aug 22, 2025 | $0.12 | USD | ≈4.5% |
| May 23, 2025 | $0.12 | USD | ≈5.8% |
| Mar 10, 2025 | $0.12 | USD | ≈5.1% |
| Nov 22, 2024 | $0.12 | USD | ≈3.6% |
| Aug 23, 2024 | $0.12 | USD | ≈4.1% |
| May 23, 2024 | $0.12 | USD | ≈4.6% |
| Mar 8, 2024 | $0.12 | USD | ≈3.9% |
| Nov 22, 2023 | $0.12 | USD | ≈5.1% |
| Aug 23, 2023 | $0.12 | USD | ≈4.4% |
| May 23, 2023 | $0.12 | USD | ≈5.2% |
| Mar 8, 2023 | $0.12 | USD | ≈4.5% |
| Nov 22, 2022 | $0.12 | USD | ≈4.3% |
| Aug 23, 2022 | $0.12 | USD | ≈4.6% |
| May 23, 2022 | $0.12 | USD | ≈4.0% |
| Feb 23, 2022 | $0.12 | USD | ≈3.1% |
| Nov 22, 2021 | $0.11 | USD | ≈2.5% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 6, 2026 | $0.69 | $0.61 | 12.6% |
| March 31, 2026 | May 6, 2026 | $0.59 | $0.51 | 15.2% |
| Dec. 31, 2025 | $0.57 | $0.54 | 4.8% | |
| Sept. 30, 2025 | $0.67 | $0.63 | 5.8% | |
| June 30, 2025 | $0.62 | $0.57 | 9.4% | |
| March 31, 2025 | $0.50 | $0.50 | 0.14% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.30B | $14.74B | $15.43B | $16.26B | $17.89B | $11.95B | $11.50B | $11.43B | |
| Cost of Revenue | $9.29B | $9.12B | $8.99B | $9.77B | $12.31B | $8.15B | $7.60B | $7.43B | |
| Gross Profit | $5.01B | $5.62B | $6.44B | $6.50B | $5.58B | $3.80B | $3.90B | $4.00B | |
| R&D Expense | · | · | · | · | $751M | $555M | $640M | $704M | |
| SG&A Expense | $3.79B | $4.10B | $4.07B | $4.18B | $4.53B | $3.34B | $2.56B | $2.44B | |
| Operating Expenses | $7.68B | $5.61B | $5.67B | $4.88B | $5.61B | $4.01B | $3.18B | $3.10B | |
| Operating Income | $-2.66B | $10M | $766M | $1.61B | $-34M | $-211M | $716M | $906M | |
| Interest Expense | $471M | $550M | $573M | $592M | $636M | $498M | $517M | $542M | |
| Other Non-op | $-531M | $-83M | $10M | $1.79B | $6M | $-13M | $-44M | $-65M | |
| Pretax Income | $-3.67B | $-623M | $203M | $2.81B | $-664M | $-721M | $154M | $298M | |
| Income Tax | $-150M | $11M | $148M | $735M | $605M | $-51M | $138M | $-54M | |
| Net Income | $-3.51B | $-634M | $55M | $2.08B | $-1.27B | $-670M | $17M | $352M | |
| EPS (Basic) | $-3.00 | $-0.53 | $0.05 | $1.71 | $-1.05 | $-1.11 | $0.03 | $0.69 | |
| EPS (Diluted) | $-3.00 | $-0.53 | $0.05 | $1.71 | $-1.05 | $-1.11 | $0.03 | $0.68 | |
| Shares (Basic) | · | · | 1,200,300,000 | 1,212,100,000 | 1,208,800,000 | 601,200,000 | 515,700,000 | 514,500,000 | |
| Shares (Diluted) | · | · | 1,206,900,000 | 1,217,400,000 | 1,208,800,000 | 601,200,000 | 516,500,000 | 516,500,000 | |
| EBITDA | $135M | · | · | · | · | · | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.32B | $735M | $992M | $1.26B | $701M | $844M | $476M | $388M | |
| Short-term Investments | · | · | · | · | · | $39M | $27M | · | |
| Receivables | $3.03B | $3.22B | $3.70B | $3.81B | $4.27B | $4.84B | $3.06B | · | |
| Inventory | $4.00B | $3.85B | $3.47B | $3.52B | $3.98B | $5.47B | $2.67B | · | |
| Prepaid Expense | $1.44B | $1.71B | $2.03B | $1.81B | $1.96B | $1.71B | $552M | · | |
| Other Current Assets | $136M | $387M | $271M | $328M | $1.47B | $1.24B | $286M | · | |
| Current Assets | $9.79B | $9.52B | $12.98B | $10.64B | $10.90B | $12.87B | $6.76B | · | |
| PP&E (Net) | $2.61B | $2.67B | $2.76B | $3.02B | $3.19B | $3.46B | $2.15B | · | |
| PP&E (Gross) | $5.13B | $4.87B | $4.77B | $5.08B | $5.59B | $5.72B | $4.12B | · | |
| Accum. Depreciation | $2.52B | $2.20B | $2.01B | $2.06B | $2.40B | $2.26B | $1.97B | · | |
| Goodwill | $6.75B | $9.13B | $9.87B | $10.43B | $12.11B | $12.35B | $9.59B | $9.75B | |
| Intangibles | $15.10B | $17.07B | $19.18B | $22.61B | $26.13B | $29.68B | $11.65B | · | |
| Other Non-current Assets | $1.87B | $2.36B | $2.21B | $2.40B | $1.17B | $1.05B | $405M | · | |
| Total Assets | $37.19B | $41.50B | $47.69B | $50.02B | $54.84B | $61.55B | $31.26B | · | |
| Short-term Debt | · | · | · | $0 | $1.49B | $1.10B | $0 | · | |
| Current Liabilities | $7.09B | $5.78B | $7.78B | $6.75B | $9.88B | $10.56B | $5.57B | · | |
| Capital Leases | $178M | $179M | $165M | $181M | $201M | $230M | $176M | · | |
| Deferred Tax | $892M | $1.11B | $1.74B | $2.43B | $2.81B | $3.12B | $1.63B | · | |
| Other Non-current Liabilities | $2.01B | $1.94B | $1.52B | $1.76B | $1.93B | $2.48B | $961M | · | |
| Total Liabilities | $22.48B | $22.87B | $27.22B | $28.95B | $34.35B | $38.60B | $19.37B | · | |
| Long-term Debt | $14.41B | $14.05B | $18.13B | $19.27B | $21.59B | $24.74B | $12.72B | · | |
| Total Debt | $14.41B | · | · | · | · | · | · | · | |
| Common Stock | $12M | $12M | $12M | $12M | $12M | $12M | $6M | · | |
| Paid-in Capital | $18.80B | $18.92B | $18.81B | $18.65B | $18.54B | $18.44B | $8.64B | · | |
| Retained Earnings | $-388M | $3.42B | $4.64B | $5.18B | $3.69B | $5.36B | $6.03B | · | |
| Treasury Stock | $1.01B | $504M | $252M | $0 | $0 | $0 | $1000M | · | |
| AOCI | $-2.71B | $-3.21B | $-2.75B | $-2.76B | $-1.74B | $-858M | $-1.80B | · | |
| Stockholders' Equity | $14.71B | $18.64B | $20.47B | $21.07B | $20.49B | $22.95B | $11.88B | $12.17B | |
| Liabilities + Equity | $37.19B | $41.50B | $47.69B | $50.02B | $54.84B | $61.55B | $31.26B | · | |
| Shares Outstanding | · | · | · | · | · | · | 100 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.80B | $2.89B | $2.74B | $3.03B | $4.51B | $2.22B | $2.02B | $2.11B | |
| Stock-based Comp | $178M | $146M | $181M | $116M | $111M | $79M | $57M | $-3M | |
| Deferred Tax | $-476M | $-768M | $-387M | $-26M | $676M | $-213M | $-193M | $-264M | |
| Amort. of Intangibles | $2.35B | $2.35B | $2.32B | $2.50B | $2.70B | $1.61B | $1.58B | $1.61B | |
| Restructuring | · | · | · | · | $50M | $50M | $105M | · | |
| Other Non-cash | $3.33B | · | · | · | · | · | · | · | |
| Operating Cash Flow | $2.32B | $2.30B | $2.90B | $3.00B | $3.02B | $1.23B | $1.80B | $2.34B | |
| CapEx | $379M | $326M | $377M | $406M | $457M | $243M | $213M | $252M | |
| Investing Cash Flow | $-428M | $1.80B | $-864M | $1.47B | $-118M | $-301M | $-525M | $-1.21B | |
| Debt Issued | $0 | $0 | $300.0K | $1.88B | $1.71B | $983M | $7M | $2.58B | |
| Net Debt Issued | $-100.0K | · | · | · | · | · | · | · | |
| Stock Issued | $3M | $2M | $3M | $3M | $0 | $0 | · | · | |
| Stock Repurchased | $500M | $250M | $250M | $0 | $0 | $0 | $0 | $432M | |
| Net Stock Activity | $-498M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-1.29B | $-4.33B | $-2.30B | $-3.88B | $-3.01B | $-606M | $-1.17B | $-1.09B | |
| Net Change in Cash | $612M | $-258M | $-269M | $556M | $-144M | $359M | $102M | $19M | |
| Taxes Paid | $445M | · | · | · | · | · | · | · | |
| Free Cash Flow | $1.94B | · | · | · | · | · | · | · | |
| Levered FCF | $1.49B | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.1% | · | · | · | · | · | · | · | |
| Operating Margin | -18.6% | · | · | · | · | · | · | · | |
| Net Margin | -24.6% | · | · | · | · | · | · | · | |
| Pretax Margin | -25.6% | · | · | · | · | · | · | · | |
| EBITDA Margin | 0.95% | · | · | · | · | · | · | · | |
| ROA | -8.9% | · | · | · | · | · | · | · | |
| ROE | -23.2% | · | · | · | · | · | · | · | |
| ROIC | -8.8% | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | · | · | · | · | · | · | · | |
| Quick Ratio | 0.6 | · | · | · | · | · | · | · | |
| Debt / Equity | 1.0 | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.8 | · | · | · | · | · | · | · | |
| Interest Coverage | -5.7 | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | · | · | · | · | · | · | · | |
| Inventory Turnover | 2.4 | · | · | · | · | · | · | · | |
| Receivables Turnover | 4.6 | · | · | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | · | · | · | · | · | $0.00 | · | |
| Dividend Paid / Share | $0.48 | $0.48 | $0.48 | $0.48 | $0.33 | · | · | · | |
| EPS (TTM) | $-3.00 | $-0.53 | $0.05 | $1.71 | $-1.05 | $-1.11 | $0.03 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -3.0% | -4.5% | -5.1% | -9.1% | 49.7% | · | · | · | |
| Revenue CAGR 3Y | -4.2% | -6.2% | 8.9% | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.7% | · | · | · | · | · | · | · | |
| EPS YoY | · | · | -97.1% | · | · | · | · | · | |
| Net Income YoY | · | · | -97.4% | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $14.30B | $14.74B | $15.43B | $16.26B | $17.89B | $11.95B | $11.50B | · | |
| Net Income TTM | $-3.51B | $-634M | $55M | $2.08B | $-1.27B | $-670M | $17M | · | |
| Market Cap | · | · | · | · | · | · | $2.0K | · | |
| P/E | -4.2 | -23.5 | 216.6 | 6.5 | -12.9 | -16.9 | 670.0 | · | |
| P/S | · | · | · | · | · | · | 0.0 | · | |
| Earnings Yield | -24.1% | -4.3% | 0.46% | 15.4% | -7.8% | -5.9% | 0.15% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $3.92B | $3.73B | $3.88B | $4.08B | |
| Cost of Revenue | $2.30B | $2.36B | $2.56B | $2.39B | $2.25B | $2.09B | $2.31B | $2.29B | $2.35B | $2.16B | $2.24B | $2.25B | $2.31B | $2.19B | $2.60B | $2.33B | |
| Gross Profit | $1.46B | $1.16B | $1.15B | $1.37B | $1.33B | $1.16B | $1.22B | $1.46B | $1.45B | $1.50B | $1.60B | $1.69B | $1.61B | $1.54B | $1.27B | $1.75B | |
| R&D Expense | $248M | $249M | · | $250M | $219M | $222M | · | $198M | $204M | $200M | · | $211M | $208M | $183M | · | $175M | |
| SG&A Expense | $1.13B | $929M | $1.03B | $887M | $929M | $948M | $1.05B | $1.00B | $1.04B | $1.02B | $1.03B | $1.05B | $1.03B | $959M | $1.27B | $1.02B | |
| Operating Expenses | $1.45B | $1.24B | $1.34B | $1.19B | $1.10B | $4.04B | $1.39B | $1.23B | $1.69B | $1.30B | $2.05B | $1.24B | $1.24B | $1.14B | $1.48B | $1.19B | |
| Operating Income | $6M | $-80M | $-193M | $179M | $233M | $-2.88B | $-180M | $226M | $-240M | $204M | $-454M | $452M | $369M | $400M | $-201M | $560M | |
| Interest Expense | $121M | $120M | $120M | $120M | $117M | $116M | $120M | $146M | $146M | $138M | $141M | $142M | $144M | $147M | $147M | $153M | |
| Other Non-op | $50M | $-48M | $-31M | $-67M | $-334M | $-99M | $-226M | $10M | $-6M | $139M | $-260M | $92M | $108M | $70M | $1.82B | $21M | |
| Pretax Income | $-64M | $-247M | $-343M | $-8M | $-217M | $-3.10B | $-526M | $90M | $-392M | $205M | $-855M | $402M | $333M | $323M | $1.47B | $428M | |
| Income Tax | $55M | $-424M | $-3M | $120M | $-212M | $-55M | $-10M | $-4M | $-65M | $91M | $-89M | $71M | $69M | $98M | $458M | $73M | |
| EPS (Basic) | $-0.10 | $0.15 | $-0.34 | $-0.11 | $0.00 | $-2.55 | $-0.44 | $0.08 | $-0.27 | $0.10 | $-0.64 | $0.28 | $0.22 | $0.19 | $0.83 | $0.29 | |
| EPS (Diluted) | $-0.10 | $0.15 | $-0.34 | $-0.11 | $0.00 | $-2.55 | $-0.43 | $0.08 | $-0.27 | $0.09 | $-0.63 | $0.27 | $0.22 | $0.19 | $0.83 | $0.29 | |
| Shares (Basic) | 1,163,300,000 | 1,155,400,000 | · | 1,164,600,000 | 1,173,000,000 | 1,192,400,000 | · | 1,193,500,000 | 1,191,100,000 | 1,195,200,000 | · | 1,199,500,000 | 1,199,000,000 | 1,202,500,000 | · | 1,212,500,000 | |
| Shares (Diluted) | 1,163,300,000 | 1,175,300,000 | · | 1,164,600,000 | 1,173,000,000 | 1,192,400,000 | · | 1,200,400,000 | 1,191,100,000 | 1,209,500,000 | · | 1,207,600,000 | 1,203,500,000 | 1,205,600,000 | · | 1,218,100,000 | |
| EBITDA | $6M | $596M | · | $179M | $233M | $-2.22B | · | $226M | $-240M | $895M | · | $452M | $369M | $1.13B | · | $560M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $886M | $1.80B | $1.32B | $975M | $566M | $755M | $735M | $1.88B | $917M | $1.01B | $992M | $1.31B | $629M | $507M | $1.26B | $647M | |
| Receivables | $3.13B | $3.08B | $3.03B | $3.37B | $3.26B | $3.13B | $3.22B | $3.72B | $3.57B | $3.63B | · | $3.74B | $3.61B | $3.50B | · | $3.33B | |
| Inventory | $3.93B | $3.93B | $4.00B | $4.11B | $4.26B | $4.10B | $3.85B | $4.08B | $3.94B | $3.82B | · | $3.67B | $3.64B | $3.66B | · | $3.38B | |
| Prepaid Expense | $2.11B | $2.11B | $1.44B | $1.49B | $1.69B | $1.65B | $1.71B | $1.63B | $1.76B | $1.93B | · | $1.78B | $1.73B | $1.76B | · | $1.70B | |
| Other Current Assets | $140M | $98M | $136M | $251M | $259M | $355M | $387M | $335M | $270M | $250M | · | $1.20B | $1.18B | $1.35B | · | $1.13B | |
| Current Assets | $10.06B | $10.92B | $9.79B | $9.95B | $9.77B | $9.62B | $9.52B | $11.31B | $11.79B | $12.92B | · | $10.93B | $9.78B | $9.63B | · | $10.49B | |
| PP&E (Net) | $2.44B | $2.53B | $2.61B | $2.63B | $2.64B | $2.64B | $2.67B | $2.68B | $2.66B | $2.71B | · | $2.93B | $2.98B | $3.01B | · | $3.04B | |
| PP&E (Gross) | $5.11B | $5.11B | $5.13B | $5.11B | $5.07B | $4.94B | $4.87B | $4.88B | $4.71B | $4.71B | · | $5.04B | $5.05B | $5.15B | · | $5.02B | |
| Accum. Depreciation | $2.67B | $2.58B | $2.52B | $2.48B | $2.42B | $2.30B | $2.20B | $2.21B | $2.05B | $2.00B | · | $2.11B | $2.06B | $2.14B | · | $1.98B | |
| Goodwill | $6.65B | $6.69B | $6.75B | $6.73B | $6.75B | $6.46B | $9.13B | $9.56B | $9.33B | $9.69B | $9.87B | $10.28B | $10.53B | $10.57B | $10.43B | $10.05B | |
| Intangibles | $13.68B | $14.48B | $15.10B | $15.72B | $16.32B | $16.66B | $17.07B | $17.98B | $18.42B | $19.13B | · | $21.28B | $22.08B | $22.70B | · | $23.01B | |
| Other Non-current Assets | $1.06B | $1.11B | $1.87B | $1.89B | $2.00B | $2.27B | $2.36B | $2.47B | $2.45B | $2.23B | · | $2.40B | $2.35B | $2.42B | · | $964M | |
| Total Assets | $35.04B | $36.83B | $37.19B | $37.92B | $38.41B | $38.47B | $41.50B | $44.75B | $45.33B | $47.34B | · | $48.74B | $48.70B | $49.29B | · | $48.66B | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | $100.0K | $23M | $205M | · | $500M | |
| Current Liabilities | $6.35B | $6.81B | $7.09B | $7.36B | $7.13B | $5.72B | $5.78B | $7.51B | $7.71B | $7.76B | · | $6.83B | $6.52B | $6.11B | · | $6.52B | |
| Capital Leases | $160M | $167M | $178M | $171M | $182M | $177M | $179M | $188M | $192M | $156M | · | $160M | $167M | $173M | · | $179M | |
| Deferred Tax | $803M | $871M | $892M | $1.03B | $1.08B | $1.08B | $1.11B | $1.28B | $1.57B | $1.67B | · | $2.32B | $2.41B | $2.46B | · | $2.49B | |
| Other Non-current Liabilities | $2.02B | $2.08B | $2.01B | $1.82B | $1.84B | $1.84B | $1.94B | $1.87B | $1.80B | $1.83B | · | $1.65B | $1.67B | $1.72B | · | $1.75B | |
| Total Liabilities | $20.78B | $22.18B | $22.48B | $22.70B | $22.84B | $22.82B | $22.87B | $24.96B | $25.81B | $27.33B | · | $27.88B | $27.85B | $28.36B | · | $29.48B | |
| Long-term Debt | $13.35B | $14.34B | $14.41B | $14.44B | $14.47B | $14.19B | $14.05B | $15.75B | $17.10B | $17.97B | · | $18.38B | $18.58B | $18.58B | · | $19.49B | |
| Total Debt | $13.35B | $14.34B | · | $14.44B | $14.47B | $14.19B | · | $15.75B | $17.10B | $17.97B | · | $18.38B | $18.60B | $18.78B | · | $19.99B | |
| Common Stock | $13M | $13M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | · | $12M | $12M | $12M | · | $12M | |
| Paid-in Capital | $18.56B | $18.66B | $18.80B | $18.89B | $19.00B | $18.96B | $18.92B | $18.89B | $18.85B | $18.84B | · | $18.76B | $18.72B | $18.68B | · | $18.62B | |
| Retained Earnings | $-331M | $-212M | $-388M | $-48M | $80M | $228M | $3.42B | $4.08B | $4.13B | $4.61B | · | $5.55B | $5.37B | $5.25B | · | $4.31B | |
| Treasury Stock | $1.16B | $1.01B | $1.01B | $924M | $856M | $680M | $504M | $504M | $504M | $504M | · | $252M | $252M | $252M | · | · | |
| AOCI | $-2.82B | $-2.80B | $-2.71B | $-2.71B | $-2.66B | $-2.87B | · | $-2.69B | $-2.98B | $-2.94B | · | $-3.21B | $-3.01B | $-2.76B | · | $-3.76B | |
| Stockholders' Equity | $14.26B | $14.66B | $14.71B | $15.22B | $15.57B | $15.65B | $18.64B | $19.79B | $19.52B | $20.01B | $20.47B | $20.87B | $20.84B | $20.93B | $21.07B | $19.18B | |
| Liabilities + Equity | $35.04B | $36.83B | $37.19B | $37.92B | $38.41B | $38.47B | $41.50B | $44.75B | $45.33B | $47.34B | · | $48.74B | $48.70B | $49.29B | · | $48.66B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $672M | $676M | $767M | $688M | $678M | $665M | $746M | $670M | $786M | $691M | $644M | $679M | $687M | $730M | $870M | $700M | |
| Stock-based Comp | $39M | $48M | $49M | $36M | $37M | $55M | $32M | $32M | $35M | $47M | $56M | $43M | $39M | $43M | $30M | $29M | |
| Deferred Tax | $-124M | $-70M | $-248M | $-137M | $-48M | $-44M | $-249M | $-312M | $-154M | $-52M | $-207M | $-85M | $-68M | $-27M | $154M | $-22M | |
| Amort. of Intangibles | $572M | $585M | $602M | $593M | $583M | $571M | $579M | $575M | $597M | $601M | $539M | $584M | $591M | $603M | $606M | $616M | |
| Restructuring | $27M | $78M | · | · | · | · | · | · | · | · | · | $15M | $74M | $10M | · | $15M | |
| Operating Cash Flow | $382M | $388M | $816M | $745M | $220M | $536M | $483M | $826M | $379M | $615M | $568M | $845M | $525M | $971M | $189M | $869M | |
| CapEx | $53M | $40M | $196M | $87M | $53M | $43M | $140M | $77M | $59M | $50M | $166M | $96M | $68M | $48M | $154M | $104M | |
| Investing Cash Flow | $-52M | $277M | $-211M | $-99M | $-52M | $-65M | $-169M | $1.75B | $376M | $-154M | $27M | $-65M | $-87M | $-750M | $1.74B | $-115M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $300.0K | $0 | $0 | $0 | $100.0K | $1.08B | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-750M | · | · | |
| Stock Issued | $700.0K | $500.0K | $600.0K | $700.0K | $700.0K | $600.0K | $600.0K | $600.0K | $700.0K | $600.0K | $600.0K | $800.0K | $800.0K | $900.0K | $800.0K | $2M | |
| Stock Repurchased | $150M | $0 | $82M | $68M | $175M | $175M | $0 | $0 | $0 | $250M | $0 | $0 | $0 | $250M | $0 | $0 | |
| Net Stock Activity | · | $500.0K | · | $-68M | $-175M | $-175M | · | · | · | $-249M | · | · | · | $-249M | · | · | |
| Financing Cash Flow | $-1.24B | $-204M | $-236M | $-228M | $-362M | $-467M | $-1.42B | $-1.64B | $-848M | $-426M | $-926M | $-98M | $-304M | $-975M | $-1.33B | $-759M | |
| Net Change in Cash | $-916M | $458M | $344M | $436M | $-188M | $20M | $-1.14B | $962M | $-97M | $22M | $-318M | $680M | $121M | $-752M | $612M | $-19M | |
| Free Cash Flow | · | $348M | · | · | · | $493M | · | · | · | $565M | · | · | · | $923M | · | · | |
| Levered FCF | · | $434M | · | · | · | $379M | · | · | · | $488M | · | · | · | $821M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.8% | 32.9% | · | 36.5% | 37.2% | 35.7% | · | 38.9% | 38.1% | 41.0% | · | 42.9% | 41.0% | 41.4% | · | 42.9% | |
| Operating Margin | 0.17% | -2.3% | · | 4.8% | 6.5% | -88.6% | · | 6.0% | -6.3% | 5.6% | · | 11.5% | 9.4% | 10.7% | · | 13.7% | |
| Pretax Margin | -1.7% | -7.0% | · | -0.21% | -6.1% | -95.2% | · | 2.4% | -10.3% | 5.6% | · | 10.2% | 8.5% | 8.6% | · | 10.5% | |
| EBITDA Margin | 0.17% | 17.0% | · | 4.8% | 6.5% | -68.1% | · | 6.0% | -6.3% | 24.4% | · | 11.5% | 9.4% | 30.3% | · | 13.7% | |
| ROIC | 0.04% | 0.20% | · | 9.8% | 0.02% | -9.5% | · | 0.67% | -0.55% | 0.30% | · | 0.95% | 0.74% | 0.70% | · | 1.2% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.6 | · | 1.4 | 1.4 | 1.7 | · | 1.5 | 1.5 | 1.7 | · | 1.6 | 1.5 | 1.6 | · | 1.6 | |
| Quick Ratio | 0.6 | 0.7 | · | 0.6 | 0.5 | 0.7 | · | 0.7 | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.7 | · | 0.6 | |
| Debt / Equity | 0.9 | 1.0 | · | 0.9 | 0.9 | 0.9 | · | 0.8 | 0.9 | 0.9 | · | 0.9 | 0.9 | 0.9 | · | 1.0 | |
| LT Debt / Equity | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.9 | · | 0.7 | 0.8 | 0.8 | · | 0.8 | 0.8 | 0.9 | · | 1.0 | |
| Interest Coverage | 0.1 | -0.7 | · | 1.5 | 2.0 | -25.0 | · | 1.6 | -1.6 | 1.5 | · | 3.2 | 2.6 | 2.7 | · | 3.7 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.6 | 0.6 | · | 0.6 | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | |
| Receivables Turnover | 1.2 | 1.1 | · | 1.1 | 1.0 | 1.0 | · | 1.0 | 1.1 | 1.0 | · | 1.1 | 1.1 | 1.0 | · | 1.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $3.23 | $2.99 | · | $3.23 | $3.05 | $2.73 | · | $3.12 | $3.19 | $3.03 | · | · | · | $3.09 | · | $3.35 | |
| Cash Flow / Share | · | $0.33 | · | · | · | $0.45 | · | · | · | $0.51 | · | · | · | $0.81 | · | · | |
| Dividend / Share | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0.12 | |
| Dividend Paid / Share | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | |
| EPS (TTM) | $-0.40 | $-0.30 | · | $-3.09 | $-2.90 | $-3.17 | · | $-0.73 | $-0.54 | $-0.05 | · | $1.51 | $1.53 | $1.57 | · | $0.66 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $14.74B | $14.56B | · | $14.12B | $14.12B | $14.33B | · | $15.05B | $15.24B | $15.36B | · | $15.47B | $15.60B | $15.80B | · | $16.73B | |
| Net Income TTM | $-670M | $-670M | · | $-670M | $-670M | $-670M | · | $-670M | $-670M | $-670M | · | $-670M | $-670M | $-670M | · | $-670M | |
| P/E | -39.7 | -45.0 | · | -3.2 | -3.1 | -2.7 | · | -15.9 | -19.7 | -238.8 | · | 6.5 | 6.5 | 6.1 | · | 12.9 | |
| Earnings Yield | -2.5% | -2.2% | · | -31.2% | -32.5% | -36.4% | · | -6.3% | -5.1% | -0.42% | · | 15.3% | 15.3% | 16.3% | · | 7.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $14.30B | $14.74B | $15.43B | $16.26B | $17.89B |
| Gross Margin % | 35.1% | · | · | · | · |
| Operating Margin % | -18.6% | · | · | · | · |
| Net Income | $-3.51B | $-634M | $55M | $2.08B | $-1.27B |
| Diluted EPS | $-3.00 | $-0.53 | $0.05 | $1.71 | $-1.05 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 1.0 | · | · | · | · |
| Current Ratio | 1.4 | · | · | · | · |
| Quick Ratio | 0.6 | · | · | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $1.94B | · | · | · | · |
Institutional owners (13F) 1,118 filers · $17.2B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 109 (-47 vs prior Q) | 87 (-2 vs prior Q) | 373 (+25 vs prior Q) | 325 (+14 vs prior Q) | +90.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $1,720,339,307 | 138,179,864 | 10.03% | Shares |
| FMR LLC | $1,534,994,190 | 96,662,102 | 8.95% | Shares |
| BlackRock, Inc. | $1,365,989,163 | 86,019,468 | 7.96% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,207,625,391 | 76,046,939 | 7.04% | Shares |
| Davis Selected Advisers | $1,194,789,797 | 75,232,254 | 6.96% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $861,999,430 | 54,282,080 | 5.02% | Shares |
| STATE STREET CORP | $842,743,041 | 53,069,461 | 4.91% | Shares |
| Rubric Capital Management LP | $542,599,639 | 34,168,743 | 3.16% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $520,097,655 | 32,807,906 | 3.03% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $475,964,429 | 29,970,094 | 2.77% | Shares |
| Invesco Ltd. | $329,847,848 | 20,771,275 | 1.92% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $320,873,980 | 20,206,170 | 1.87% | Shares |
| AMERIPRISE FINANCIAL INC | $298,795,923 | 18,815,747 | 1.74% | Shares |
| MORGAN STANLEY | $240,246,939 | 15,128,899 | 1.40% | Shares |
| Bank of New York Mellon Corp | $226,894,280 | 14,288,053 | 1.32% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $215,449,390 | 13,567,342 | 1.26% | Shares |
| GOLDMAN SACHS GROUP INC | $215,410,160 | 13,564,872 | 1.26% | Shares |
| NORTHERN TRUST CORP | $159,414,412 | 10,038,691 | 0.93% | Shares |
| GLENVIEW CAPITAL MANAGEMENT, LLC | $156,853,255 | 9,877,409 | 0.91% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $132,934,942 | 8,371,218 | 0.77% | Shares |
| Callodine Capital Management, LP | $127,051,783 | 8,000,742 | 0.74% | Shares |
| DEUTSCHE BANK AG\ | $125,313,384 | 7,891,271 | 0.73% | Shares |
| JPMORGAN CHASE & CO | $119,690,536 | 7,322,267 | 0.70% | Shares |
| BANK OF AMERICA CORP /DE/ | $116,824,517 | 7,356,708 | 0.68% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $103,910,383 | 6,543,475 | 0.61% | Shares |
| Qube Research & Technologies Ltd | $98,141,941 | 6,180,223 | 0.57% | Shares |
| UBS Group AG | $96,745,659 | 6,092,296 | 0.56% | Shares |
| Nuveen, LLC | $95,398,563 | 6,007,467 | 0.56% | Shares |
| FRANKLIN RESOURCES INC | $89,856,011 | 5,658,439 | 0.52% | Shares |
| JANE STREET GROUP, LLC | $88,440,659 | 5,569,311 | 0.52% | Shares |
| Nantahala Capital Management, LLC | $79,400,000 | 5,000,000 | 0.46% | Call option |
| Assenagon Asset Management S.A. | $79,225,415 | 4,989,006 | 0.46% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $74,556,065 | 4,694,966 | 0.43% | Shares |
| AMERICAN CENTURY COMPANIES INC | $73,760,258 | 4,644,851 | 0.43% | Shares |
| Gotham Asset Management, LLC | $69,469,966 | 4,374,683 | 0.40% | Shares |
| CITIGROUP INC | $69,243,850 | 4,360,444 | 0.40% | Shares |
| Brandywine Global Investment Management, LLC | $67,528,501 | 5,423,976 | 0.39% | Shares |
| Legal & General Group Plc | $64,625,994 | 4,069,647 | 0.38% | Shares |
| NORGES BANK | $60,705,175 | 3,822,744 | 0.35% | Shares |
| LAKEWOOD CAPITAL MANAGEMENT, LP | $59,326,092 | 3,735,900 | 0.35% | Shares |
| Man Group plc | $55,946,065 | 3,523,052 | 0.33% | Shares |
| Russell Investments Group, Ltd. | $54,379,234 | 3,423,675 | 0.32% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $53,562,152 | 3,964,630 | 0.31% | Shares |
| Amundi | $51,920,530 | 3,269,550 | 0.30% | Shares |
| SEI INVESTMENTS CO | $50,267,814 | 3,165,469 | 0.29% | Shares |
| ROYAL BANK OF CANADA | $49,792,000 | 3,135,460 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $45,614,656 | 2,872,464 | 0.27% | Shares |
| DME Capital Management, LP | $44,042,703 | 2,773,470 | 0.26% | Shares |
| Vanguard Global Advisers, LLC | $42,862,486 | 2,699,149 | 0.25% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $42,610,407 | 2,683,275 | 0.25% | Shares |
Company insiders 32 insiders · 14 officers · 20 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Scott Andrew Smith | Chief Executive Officer | March 6, 2026 A | 1,329,326 | 0 | 0 | $0 |
| Michael Goettler | Chief Executive Officer | March 4, 2023 M | 321,653 | 0 | 0 | $0 |
| Campbell Paul | Interim Chief Financial Officer, Chief Accounting Officer and Corporate Controller | June 25, 2026 S | 316,212 | 0 | 2 | $-1,093,257 |
| Theodora Mistras | Chief Financial Officer | March 6, 2026 A | 70,645 | 0 | 0 | $0 |
| Sanjeev Narula | Chief Financial Officer | March 4, 2023 M | 73,877 | 0 | 0 | $0 |
| Anthony Mauro | President, Developed Markets | March 13, 2024 S | 243,044 | 0 | 0 | $0 |
| Xiangyang (Sean) Ni | President, Greater China | March 4, 2024 A | 90,804 | 0 | 0 | $0 |
| Andrew Cuneo | President, JANZ (Japan, Australia and New Zealand) and Emerging Markets | March 4, 2024 A | 60,055 | 0 | 0 | $0 |
| Menassie Taddese | President, Emerging Markets | May 27, 2022 S | 0 | 0 | 0 | $0 |
| Andrew Enrietti | Chief Administrative and Transformation Officer | Aug. 15, 2026 M | 234,444 | 0 | 0 | $0 |
| Corinne Le Goff | Chief Commercial Officer | April 15, 2026 M | 107,135 | 0 | 0 | $0 |
| Matthew Joseph Maletta | Chief Legal Officer | March 6, 2026 A | · | 0 | 0 | $0 |
| Brian Roman | Chief Legal Officer | March 6, 2025 A | 193,916 | 0 | 0 | $0 |
| Robert J Coury | Executive Chairman | March 4, 2023 M | 1,174,515 | 0 | 0 | $0 |
| Leo Frans Groothuis | Director | Sept. 30, 2026 A | 63,437 | 0 | 0 | $0 |
| David S Simmons | Director | Sept. 30, 2026 A | 23,344 | 2 | 0 | $5,202 |
| Richard A Mark | Director | March 6, 2026 A | 116,145 | 0 | 0 | $0 |
| Coelho Rogerio Vivaldi | Director | March 6, 2026 A | 46,526 | 0 | 0 | $0 |
| Michael Severino | Director | March 6, 2026 A | 26,031 | 0 | 0 | $0 |
| Dillon Joellen Lyons | Director | March 6, 2026 A | 102,526 | 0 | 0 | $0 |
| Mark W Parrish | Director | March 6, 2026 A | 165,230 | 0 | 0 | $0 |
| Elisha W Finney | Director | March 6, 2026 A | 62,667 | 0 | 0 | $0 |
| Frank A Damelio | Director | March 6, 2026 A | 26,031 | 0 | 0 | $0 |
| Don W Cornwell | Director | March 6, 2026 A | 112,044 | 0 | 0 | $0 |
| Melina E Higgins | Director | March 6, 2026 A | 146,048 | 0 | 0 | $0 |
| James M Kilts | Director | March 6, 2026 A | 161,257 | 0 | 0 | $0 |
| Rajiv Malik | Director | March 6, 2025 A | 1,068,262 | 0 | 0 | $0 |
| Harry Korman | Director | March 6, 2025 A | 113,937 | 0 | 0 | $0 |
| Mohr Pauline Van Der Meer | Director | March 4, 2023 M | 40,245 | 0 | 0 | $0 |
| Ian C Read | Director | March 21, 2022 M | 14,497 | 0 | 0 | $0 |
| Neil F Dimick | Director | March 21, 2022 M | 75,200 | 0 | 0 | $0 |
| Pfizer Inc. | 10% owner | Nov. 16, 2020 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 123 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| DUSA · Davis Fundamental ETF Trust | 5.37% | 3,886,641 NS | July 31, 2026 | N-PORT |
| ADPV · Series Portfolios Trust | 4.75% | 482,110 NS | July 31, 2026 | N-PORT |
| DWLD · Davis Fundamental ETF Trust | 4.37% | 1,522,109 NS | July 31, 2026 | N-PORT |
| IHE · iShares Trust | 4.36% | 4,310,454 SH | Sept. 11, 2026 | Daily |
| PJP · Invesco Exchange-Traded Fund Trust | 3.40% | 1,069,356 SH | Oct. 1, 2026 | Daily |
| CVSM · Elevation Series Trust | 2.66% | 143,081 NS | July 31, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 2.51% | 21,853 NS | July 31, 2026 | N-PORT |
| SPDV · ETF Series Solutions | 2.41% | 180,356 NS | July 31, 2026 | N-PORT |
| LYLD · Cambria ETF Trust | 2.03% | 8,379 NS | July 31, 2026 | N-PORT |
| RSPH · Invesco Exchange-Traded Fund Trust | 1.76% | 865,399 SH | Oct. 1, 2026 | Daily |
| PTH · Invesco Exchange-Traded Fund Trust | 1.75% | 363,657 SH | Oct. 1, 2026 | Daily |
| FXH · First Trust Exchange-Traded AlphaDE… | 1.50% | 896,631 NS | July 31, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 1.33% | 81,239 SH | Oct. 1, 2026 | Daily |
| RPV · Invesco Exchange-Traded Fund Trust | 1.30% | 1,201,310 SH | Oct. 1, 2026 | Daily |
| PILL · Direxion Shares ETF Trust | 1.27% | 14,896 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 1.07% | 786,966 NS | July 31, 2026 | N-PORT |
| SYLD · Cambria ETF Trust | 1.04% | 587,982 NS | July 31, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 1.04% | 98,896 SH | Oct. 1, 2026 | Daily |
| SPVM · Invesco Exchange-Traded Fund Trust | 0.82% | 60,381 SH | Oct. 1, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.78% | 146,604 NS | July 31, 2026 | N-PORT |
| CVY · Invesco Exchange-Traded Fund Trust | 0.75% | 49,232 SH | Oct. 1, 2026 | Daily |
| MEDI · Harbor ETF Trust | 0.57% | 13,424 NS | July 31, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.54% | 5,774,795 NS | July 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.51% | 187,532 NS | July 31, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.47% | 61,211 NS | July 31, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.43% | 113,494 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.43% | 493,425 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.39% | 16,955,526 SH | Aug. 19, 2026 | Daily |
| FBCV · FIDELITY COVINGTON TRUST | 0.39% | 39,217 NS | July 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.39% | 329,029 NS | July 31, 2026 | N-PORT |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.36% | 10,810,000 | Oct. 1, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.35% | 91,816 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.35% | 2,881,753 NS | July 31, 2026 | N-PORT |
| IYH · iShares Trust | 0.31% | 680,750 SH | Sept. 11, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.30% | 554,689 NS | July 31, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.28% | 150,960 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.27% | 3,499,976 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.27% | 455,933 SH | Sept. 11, 2026 | Daily |
| SMMD · iShares Trust | 0.26% | 621,073 SH | Sept. 11, 2026 | Daily |
| REVS · Columbia ETF Trust I | 0.26% | 49,916 NS | July 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.26% | 115,598 SH | Aug. 19, 2026 | Daily |
| IMCV · iShares Trust | 0.26% | 182,951 SH | Sept. 11, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.26% | 122,266 NS | July 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.25% | 194,588 NS | July 31, 2026 | N-PORT |
| IXJ · iShares Trust | 0.24% | 611,025 SH | Sept. 11, 2026 | Daily |
| CURE · Direxion Shares ETF Trust | 0.23% | 22,916 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.22% | 11,867,062 SH | Oct. 1, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.22% | 26,707,011 SH | Aug. 19, 2026 | Daily |
| IWS · iShares Trust | 0.19% | 1,735,168 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.18% | 71,909 SH | Sept. 11, 2026 | Daily |
| RECS · Columbia ETF Trust I | 0.17% | 566,625 NS | July 31, 2026 | N-PORT |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.17% | 7,807,000 | Oct. 1, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.16% | 228,156 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 187,618 SH | Aug. 19, 2026 | Daily |
| LGDX · Tidal Trust III | 0.15% | 11,980 NS | July 31, 2026 | N-PORT |
| SPMO · Invesco Exchange-Traded Fund Trust … | 0.15% | 1,925,017 SH | Oct. 1, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.14% | 13,535 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.14% | 4,755,593 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.13% | 131,500 SH | Sept. 10, 2026 | Daily |
| DFVX · Dimensional ETF Trust | 0.12% | 36,388 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.11% | 622,740 SH | Oct. 1, 2026 | Daily |
| FBCG · FIDELITY COVINGTON TRUST | 0.11% | 438,116 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.11% | 1,446 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.10% | 46,067 SH | Oct. 1, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.10% | 55,744 SH | Oct. 1, 2026 | Daily |
| DIVB · iShares Trust | 0.10% | 124,028 SH | Sept. 11, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.09% | 825,072 NS | July 31, 2026 | N-PORT |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.08% | 445,662 SH | Oct. 1, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.08% | 4,647,551 SH | Aug. 19, 2026 | Daily |
| DFLV · Dimensional ETF Trust | 0.07% | 272,031 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.07% | 21,814 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.06% | 1,747,680 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.06% | 1,934,171 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.06% | 1,017,393 SH | Sept. 11, 2026 | Daily |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.06% | 267,075 SH | Aug. 19, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.06% | 110,597 NS | July 31, 2026 | N-PORT |
| ILCV · iShares Trust | 0.05% | 44,089 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.05% | 2,579,107 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 701,858 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 358,281 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.04% | 52,351 NS | July 31, 2026 | N-PORT |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.04% | 35,636 SH | Oct. 1, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.04% | 267,915 NS | July 31, 2026 | N-PORT |
| TOPC · iShares Trust | 0.04% | 720 SH | Sept. 9, 2026 | Daily |
| XRMI · Global X Funds | 0.04% | 1,009 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.03% | 1,200 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.03% | 13,227 SH | Sept. 11, 2026 | Daily |
| XYLD · Global X Funds | 0.03% | 58,008 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.03% | 58,253 NS | July 31, 2026 | N-PORT |
| PBP · Invesco Exchange-Traded Fund Trust | 0.03% | 6,830 SH | Oct. 1, 2026 | Daily |
| XTR · Global X Funds | 0.03% | 85 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.03% | 37,920 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.03% | 362,786 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.03% | 62 NS | July 31, 2026 | N-PORT |
| VOO · VANGUARD INDEX FUNDS | 0.03% | 30,255,873 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.03% | 36,993,850 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.03% | 192,700 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 97,596 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.03% | 262,709 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.03% | 4,573 NS | July 31, 2026 | N-PORT |
| SPUU · Direxion Shares ETF Trust | 0.03% | 4,394 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 0.03% | 14,678,463 SH | Sept. 11, 2026 | Daily |
| QDPL · Pacer Funds Trust | 0.03% | 28,053 NS | July 31, 2026 | N-PORT |
| ILCB · iShares Trust | 0.03% | 21,777 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.03% | 814,020 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.03% | 49,059 SH | Sept. 11, 2026 | Daily |
| LRGF · iShares Trust | 0.03% | 59,492 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.03% | 1,524,327 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.03% | 315,944 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.03% | 8,100 NS | July 31, 2026 | N-PORT |
| PHDG · Invesco Actively Managed Exchange-T… | 0.02% | 863 SH | Oct. 1, 2026 | Daily |
| SPXL · Direxion Shares ETF Trust | 0.02% | 91,048 NS | July 31, 2026 | N-PORT |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 993,914 SH | Aug. 19, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.02% | 41,980 SH | Oct. 1, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDX · VANGUARD CHARLOTTE FUNDS | · | · | July 15, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
VTRS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
10 analysts · 2026-09-30Mean target $19.40 +10.2%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VTRS | · | -4.2 | -3.0% | -24.6% | -23.2% | 35.1% |
| MRK | · | 14.5 | 1.3% | 28.1% | 36.9% | · |
| PFE | · | 18.3 | -1.7% | 12.4% | 8.9% | · |
| BMY | · | 15.6 | -0.22% | 14.6% | 40.5% | · |
| RPRX | · | 21.7 | 5.1% | 32.4% | 8.0% | · |
| ZTS | $53.46B | 20.9 | 2.3% | 28.2% | 66.0% | · |
| CORT | $3.69B | 42.4 | 12.8% | 13.1% | 15.5% | · |
| ELAN | $11.25B | -48.1 | 6.2% | -4.9% | -3.5% | 55.0% |
| AXSM | $9.29B | -49.6 | 65.5% | -28.7% | -227.0% | · |
| LLY | · | 46.8 | 44.7% | 31.7% | 101.2% | · |
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