Teva Pharmaceutical Industries Limited
TEVAHealthcare|Drug Manufacturers - Specialty & Generic|IL
$42.61
+0.83 (+1.99%)
DCF Value
$18.62
Graham Number
$8.17
Cash / Share
$3.50
Financials
Financial Snapshot
Market Cap
$49.65B
Enterprise Value
$62.55B
Revenue (TTM)
$17.23B
Net Income (TTM)
$506.0M
Cash & Investments
$4.08B
Net Cash
-$12.90B
Free Cash Flow (TTM)
$1.24B
Operating CF (TTM)
$1.77B
Debt/Equity
2.13
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $988.0M | $963.0M | $1.78B | $1.98B | $2.18B | $2.17B | $2.80B | $3.23B | $3.30B | $3.56B | $4.08B | |
| Operating Cash Flow | $5.22B | $3.51B | $2.45B | $538.0M | $1.22B | $798.0M | $1.59B | $1.37B | $1.25B | $1.65B | $1.77B | |
| Free Cash Flow | $4.32B | $2.63B | $1.79B | $419.0M | $638.0M | $236.0M | $1.04B | $842.0M | $749.0M | $1.15B | $1.24B | |
| Capital Expenditure | -$901.0M | -$874.0M | -$651.0M | -$119.0M | -$578.0M | -$562.0M | -$548.0M | -$526.0M | -$498.0M | -$501.0M | -$534.0M | |
| Financing Cash Flow | $25.22B | -$5.75B | -$3.35B | -$241.0M | -$1.89B | -$2.17B | -$1.49B | -$1.91B | -$1.79B | -$2.15B | $58.0M |
R&D Spending
R&D (TTM)
$1.04B
R&D Intensity
6.0%
R&D Growth vs Prior
+2.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.90B | $22.39B | $18.85B | $16.89B | $16.66B | $15.88B | $14.93B | $15.85B | $16.54B | $17.26B | $17.23B | |
| R&D Expense | $2.11B | $1.85B | $1.21B | $1.01B | $1.79B | $1.09B | $838.0M | $953.0M | $1.05B | $1.01B | $1.04B | |
| R&D % of Revenue | 9.6% | 8.3% | 6.4% | 6.0% | 10.8% | 6.9% | 5.6% | 6.0% | 6.4% | 5.9% | 6.0% | |
| SG&A | $5.10B | $4.99B | $4.21B | $3.81B | $3.67B | $3.53B | $3.44B | $3.50B | $3.70B | $3.97B | $4.16B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.90B | $22.39B | $18.85B | $16.89B | $16.66B | $15.88B | $14.93B | $15.85B | $16.54B | $17.26B | $17.23B | |
| Cost of Revenue | $10.04B | $11.56B | $10.56B | $9.35B | $8.93B | $8.28B | $7.95B | $8.20B | $8.48B | $8.32B | $8.01B | |
| Gross Profit | $11.86B | $10.82B | $8.30B | $7.54B | $7.73B | $7.59B | $6.97B | $7.64B | $8.06B | $8.94B | $9.22B | |
| R&D | $2.11B | $1.85B | $1.21B | $1.01B | $1.79B | $1.09B | $838.0M | $953.0M | $1.05B | $1.01B | $1.04B | |
| SG&A | $5.10B | $4.99B | $4.21B | $3.81B | $3.67B | $3.53B | $3.44B | $3.50B | $3.70B | $3.97B | $4.16B | |
| Operating Income | $2.15B | -$17.48B | -$1.64B | -$443.0M | -$3.57B | $1.72B | -$2.20B | $433.0M | -$303.0M | $2.16B | $1.81B | |
| Interest Expense | $1.33B | $895.0M | $881.0M | $957.0M | $755.0M | $891.0M | $930.0M | $1.03B | $941.0M | $916.0M | $693.0M | |
| Pretax Income | $824.0M | -$18.38B | -$2.60B | -$723.0M | -$3.93B | $667.0M | -$3.14B | -$622.0M | -$1.28B | $1.24B | $372.0M | |
| Net Income | $329.0M | -$16.27B | -$2.15B | -$999.0M | -$3.99B | $417.0M | -$2.45B | -$559.0M | -$1.64B | $1.41B | $506.0M | |
| EPS (Diluted) | 0.07 | -16.01 | -2.11 | -0.92 | -3.64 | 0.38 | -2.20 | -0.50 | -1.45 | 1.20 | 0.43 | |
| EBITDA | $2.90B | -$15.48B | $186.0M | $4.44B | $4.61B | $4.41B | -$925.0M | $1.56B | $4.43B | $3.14B | $2.04B | |
| Shares Out. (M) | 961.00 | 1016.00 | 1021.00 | 1091.00 | 1095.00 | 1107.00 | 1110.00 | 1119.00 | 1131.00 | 1173.00 | 1183.00 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $988.0M | $963.0M | $1.78B | $1.98B | $2.18B | $2.17B | $2.80B | $3.23B | $3.30B | $3.56B | $4.08B | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $16.96B | $15.38B | $13.79B | $13.46B | $13.01B | $12.57B | $12.05B | $12.48B | $12.55B | $13.95B | $14.60B | |
| Total Assets | $92.89B | $70.61B | $60.68B | $57.47B | $50.64B | $47.67B | $44.01B | $43.48B | $39.33B | $40.75B | $40.04B | |
| Total Current Liabilities | $18.52B | $17.92B | $14.32B | $13.67B | $13.16B | $11.03B | $11.47B | $12.25B | $12.80B | $13.46B | $15.43B | |
| Long-Term Debt | $32.52B | $28.83B | $26.70B | $24.56B | $22.73B | $21.62B | $19.10B | $18.16B | $16.00B | $15.27B | $12.68B | |
| Total Liabilities | $57.90B | $51.87B | $44.89B | $42.41B | $39.58B | $36.42B | $35.41B | $35.35B | $33.61B | $32.83B | $32.06B | |
| Stockholders' Equity | $33.34B | $17.36B | $14.71B | $13.97B | $10.03B | $10.28B | $7.80B | $7.51B | $5.37B | $7.91B | $7.98B | |
| Retained Earnings | $13.61B | -$3.80B | -$5.96B | -$6.96B | -$10.95B | -$10.53B | -$12.97B | -$13.53B | -$15.17B | -$13.76B | -$13.74B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.22B | $3.51B | $2.45B | $538.0M | $1.22B | $798.0M | $1.59B | $1.37B | $1.25B | $1.65B | $1.77B | |
| Capital Expenditure | -$901.0M | -$874.0M | -$651.0M | -$119.0M | -$578.0M | -$562.0M | -$548.0M | -$526.0M | -$498.0M | -$501.0M | -$534.0M | |
| Free Cash Flow | $4.32B | $2.63B | $1.79B | $419.0M | $638.0M | $236.0M | $1.04B | $842.0M | $749.0M | $1.15B | $1.24B | |
| Investing Cash Flow | -$35.74B | $2.16B | $1.87B | $430.0M | $863.0M | $1.52B | $656.0M | $968.0M | $792.0M | $737.0M | $113.0M | |
| Financing Cash Flow | $25.22B | -$5.75B | -$3.35B | -$241.0M | -$1.89B | -$2.17B | -$1.49B | -$1.91B | -$1.79B | -$2.15B | $58.0M | |
| Issuance of Stock | $329.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $26.25B | -$4.48B | -$3.27B | -$1.86B | -$1.88B | -$2.17B | -$1.37B | -$1.70B | -$1.64B | -$1.81B | -$61.7M | |
| Stock Based Comp. | $124.0M | $133.0M | $155.0M | $20.0M | $129.0M | $119.0M | $124.0M | $121.0M | $123.0M | $157.0M | $172.0M | |
| Net Change in Cash | -$5.96B | -$25.0M | $819.0M | $734.0M | $202.0M | $21.0M | $636.0M | $393.0M | $73.0M | $256.0M | $1.88B |
Dilution Tracker
Shares Outstanding
1165M
5-Year Share Growth
+7.1%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 961.00 | 1016.00 | 1021.00 | 1091.00 | 1095.00 | 1107.00 | 1110.00 | 1119.00 | 1131.00 | 1173.00 | 1183.00 | |
| Change vs Prior % | — | 5.7% | 0.5% | 6.9% | 0.4% | 1.1% | 0.3% | 0.8% | 1.1% | 3.7% | 0.9% | |
| Stock Issuance | $329.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $124.0M | $133.0M | $155.0M | $20.0M | $129.0M | $119.0M | $124.0M | $121.0M | $123.0M | $157.0M | $172.0M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 54.1% | 48.4% | 44.0% | 44.6% | 46.4% | 47.8% | 46.7% | 48.2% | 48.7% | 51.8% | 53.5% | |
| Operating Margin % | 9.8% | -78.1% | -8.7% | -2.6% | -21.4% | 10.8% | -14.7% | 2.7% | -1.8% | 12.5% | 10.5% | |
| Net Margin % | 1.5% | -72.7% | -11.4% | -5.9% | -24.0% | 2.6% | -16.4% | -3.5% | -9.9% | 8.2% | 2.9% | |
| EBITDA Margin % | 13.2% | -69.2% | 1.0% | 26.3% | 27.7% | 27.8% | -6.2% | 9.8% | 26.8% | 18.2% | 11.8% | |
| FCF Margin % | 19.7% | 11.8% | 9.5% | 2.5% | 3.8% | 1.5% | 7.0% | 5.3% | 4.5% | 6.7% | 7.2% | |
| ROE % | 1.0% | -93.7% | -14.6% | -7.2% | -39.8% | 4.1% | -31.3% | -7.4% | -30.5% | 17.8% | 6.4% | |
| ROA % | 0.4% | -23.0% | -3.5% | -1.7% | -7.9% | 0.9% | -5.6% | -1.3% | -4.2% | 3.5% | 1.3% | |
| ROIC % | 1.0% | -27.8% | -3.1% | -1.0% | -8.8% | 3.1% | -5.0% | 1.3% | -1.1% | 7.4% | 6.3% | |
| R&D / Revenue % | 9.6% | 8.3% | 6.4% | 6.0% | 10.8% | 6.9% | 5.6% | 6.0% | 6.4% | 5.9% | 6.0% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.5% | 2.2% | -15.8% | -10.4% | -1.4% | -4.7% | -6.0% | 6.2% | 4.4% | 4.3% | |
| Gross Profit | 4.4% | -8.7% | -23.4% | -9.2% | 2.5% | -1.7% | -8.2% | 9.6% | 5.5% | 10.9% | |
| Operating Income | -35.7% | -911.7% | 90.6% | 72.9% | -706.3% | 148.0% | -228.0% | 119.7% | -170.0% | 811.9% | |
| Net Income | -79.3% | -5043.8% | 86.8% | 53.5% | -299.4% | 110.5% | -686.6% | 77.1% | -193.2% | 186.0% | |
| EPS (Diluted) | -96.2% | -22971.4% | 86.8% | 56.4% | -295.7% | 110.4% | -678.9% | 77.3% | -190.0% | 182.8% | |
| Operating Cash Flow | -5.7% | -32.9% | -30.3% | -78.0% | 126.0% | -34.4% | 99.2% | -14.0% | -8.8% | 32.2% | |
| Free Cash Flow | -9.4% | -39.1% | -31.8% | -76.7% | 52.3% | -63.0% | 341.5% | -19.2% | -11.0% | 53.3% | |
| R&D Expense | 38.4% | -12.5% | -34.4% | -16.7% | 77.6% | -39.0% | -23.4% | 13.7% | 10.7% | -4.0% | |
| SG&A Expense | 8.0% | -2.2% | -15.5% | -9.7% | -3.5% | -3.9% | -2.4% | 1.5% | 5.8% | 7.3% | |
| Total Assets | 71.2% | -24.0% | -14.1% | -5.3% | -11.9% | -5.9% | -7.7% | -1.2% | -9.6% | 3.6% | |
| Book Value / Share | 4.7% | -49.6% | -16.1% | -10.8% | -26.8% | 1.0% | -24.1% | -6.2% | -30.4% | 36.2% | |
| Debt | 259.1% | -9.3% | -11.0% | -5.4% | -3.5% | -11.1% | -8.1% | -6.5% | -10.3% | -3.9% | |
| Diluted Shares | 11.2% | 5.7% | 0.5% | 6.9% | 0.4% | 1.1% | 0.3% | 0.8% | 1.1% | 3.7% |
Valuation
P/E (TTM)94.69
10Y Low / Med / High21.08 / 25.37 / 517.86
P/S2.88
10Y Low / Med / High0.56 / 0.83 / 2.08
P/B6.23
10Y Low / Med / High0.77 / 1.11 / 4.64
EV/EBITDA30.74
10Y Low / Med / High6.83 / 15.82 / 230.51
EV/Revenue3.63
10Y Low / Med / High1.81 / 2.27 / 3.17
P/FCF40.17
10Y Low / Med / High7.31 / 16.56 / 37.40
Intrinsic Value Models (per share)
DCF Value
$18.62
Graham Number
$8.17
Cash / Share
$3.50
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 517.86 | -1.18 | -7.31 | -10.65 | -2.65 | 21.08 | -4.15 | -20.88 | -15.20 | 25.37 | 94.69 | |
| P/S Ratio | 1.58 | 0.86 | 0.83 | 0.63 | 0.63 | 0.56 | 0.68 | 0.74 | 1.51 | 2.08 | 2.88 | |
| P/B Ratio | 1.04 | 1.11 | 1.07 | 0.77 | 1.05 | 0.86 | 1.30 | 1.56 | 4.64 | 4.53 | 6.23 | |
| EV/EBITDA | 23.97 | -3.28 | 230.51 | 8.13 | 7.54 | 6.83 | -31.23 | 18.36 | 8.96 | 15.82 | 30.74 | |
| EV/Revenue | 3.17 | 2.27 | 2.27 | 2.14 | 2.09 | 1.90 | 1.94 | 1.81 | 2.40 | 2.88 | 3.63 |
Analyst Estimates & Quality
Altman Z-Score
0.94
Distress
Piotroski F-Score
7
Strong
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $16.77B | $17.36B | $18.16B |
| Net Income | $2.42B | $3.72B | $4.17B |
| EPS | $2.05 | $3.11 | $3.50 |
| # Analysts (EPS) | 8 | 10 | 6 |
Dividends
Frequency
Quarterly
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Nov 27, 2017 | Dec 12, 2017 | $0.09 | Quarterly |
| Aug 25, 2017 | Sep 14, 2017 | $0.09 | Quarterly |
| Jun 1, 2017 | Jun 22, 2017 | $0.34 | Quarterly |
| Feb 28, 2017 | Mar 20, 2017 | $0.34 | Quarterly |
| Dec 1, 2016 | Dec 20, 2016 | $0.34 | Quarterly |
| Aug 18, 2016 | Sep 8, 2016 | $0.34 | Quarterly |
| May 20, 2016 | Jun 7, 2016 | $0.34 | Quarterly |
| Feb 25, 2016 | Mar 14, 2016 | $0.34 | Quarterly |
| Nov 13, 2015 | Dec 3, 2015 | $0.34 | Quarterly |
| Aug 18, 2015 | Sep 3, 2015 | $0.34 | Quarterly |
| May 15, 2015 | Jun 4, 2015 | $0.34 | Special |
| Feb 17, 2015 | Mar 3, 2015 | $0.34 | Quarterly |
| Nov 13, 2014 | Dec 2, 2014 | $0.32 | Special |
| Aug 19, 2014 | Sep 4, 2014 | $0.35 | Quarterly |
| May 16, 2014 | Jun 2, 2014 | $0.35 | Quarterly |
| Feb 20, 2014 | Mar 10, 2014 | $0.34 | Quarterly |
| Nov 18, 2013 | Dec 3, 2013 | $0.33 | Quarterly |
| Aug 16, 2013 | Sep 3, 2013 | $0.32 | Quarterly |
| May 16, 2013 | Jun 3, 2013 | $0.32 | Special |
| Feb 19, 2013 | Mar 7, 2013 | $0.31 | Quarterly |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Distribution Service | $1.50B | $1.39B | $1.52B | $1.61B | $1.58B | $1.55B |
| License | $129.0M | $160.0M | $212.0M | $681.0M | $173.0M | $678.0M |
| Product and Service, Other | $680.0M | $500.0M | $428.0M | $570.0M | $365.0M | $423.0M |
| Product | $14.35B | $13.83B | $12.77B | $12.98B | $14.43B | $14.61B |
By Geography
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Europe Segment | $4.76B | $4.89B | $4.53B | $4.84B | $5.10B | $5.04B |
| North America Segment | $8.45B | $7.81B | $7.45B | $8.12B | $8.03B | — |
| International Markets | $2.15B | $2.03B | $1.90B | $1.96B | $2.46B | $2.16B |
| United States Segment | — | — | — | — | — | $9.19B |