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TEVA

Teva Pharmaceutical Industries Limited

TEVA

Teva Pharmaceutical Industries Limited • NYSE
$26.87 ▲ 2.09% (+0.55)
Market Cap $30.82 B
52w High $26.96
52w Low $12.47
Dividend Yield 0%
P/E 44.05
Volume 9.05M
Outstanding Shares 1.15B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.48B ▲ $1.422B ▼ $433M ▲ 9.665% ▲ $0.38 ▲ $1.106B ▲
Q2-2025 $4.176B ▲ $1.647B ▲ $282M ▲ 6.753% ▲ $0.25 ▲ $657M ▼
Q1-2025 $3.891B ▼ $1.358B ▼ $214M ▲ 5.5% ▲ $0.19 ▲ $763M ▼
Q4-2024 $4.229B ▼ $2.149B ▼ $-217M ▲ -5.131% ▲ $-0.19 ▲ $1.162B ▲
Q3-2024 $4.331B $2.199B $-437M -10.09% $-0.39 $207M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.203B ▲ $39.856B ▼ $32.602B ▼ $7.25B ▲
Q2-2025 $2.161B ▲ $40.131B ▲ $33.297B ▲ $6.827B ▲
Q1-2025 $1.697B ▼ $38.415B ▼ $32.146B ▼ $6.262B ▲
Q4-2024 $3.3B ▼ $39.326B ▼ $33.606B ▼ $5.373B ▼
Q3-2024 $3.319B $41.758B $35.374B $6.065B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $434M ▲ $369M ▲ $135M ▼ $-453M ▼ $42M ▼ $233M ▲
Q2-2025 $282M ▲ $227M ▲ $236M ▲ $6M ▲ $464M ▲ $131M ▲
Q1-2025 $214M ▲ $-105M ▼ $201M ▲ $-1.744B ▼ $-1.603B ▼ $-232M ▼
Q4-2024 $-218.728M ▲ $915M ▲ $-138M ▼ $-674M ▼ $-19.015M ▼ $786M ▲
Q3-2024 $-390M $693M $268M $0 $1.061B $545M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Distribution Service
Distribution Service
 $800.00M ▲$380.00M ▼$380.00M ▲$410.00M ▲
License
License
 $90.00M ▲$40.00M ▼$50.00M ▲$50.00M ▲
Product
Product
 $7.00Bn ▲$3.40Bn ▼$3.64Bn ▲$3.91Bn ▲
Product and Service Other
Product and Service Other
 $160.00M ▲$80.00M ▼$120.00M ▲$120.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the past five years, dipping slightly and then recovering to roughly where it started. That suggests Teva’s core business remains intact, even as individual products face competition and price pressure. Profitability, however, has been very uneven. Operating results swing between profit and loss, and bottom‑line earnings are negative in most years. This usually points to sizeable non‑routine costs, pricing pressure in generics, and the cost of restructuring and legal settlements. In simple terms, the company is selling a lot, but it has struggled to turn those sales into consistent, clean profits. The recent return to an operating loss, despite higher sales, is a warning sign that the turnaround in profitability is not yet complete and remains vulnerable to shocks and one‑off charges.

Balance Sheet

Balance Sheet Teva’s balance sheet shows a slow repair process. Total assets have been drifting down, which often reflects debt reduction, asset sales, or write‑downs. At the same time, the company has gradually reduced its debt, which is a clear positive given the heavy borrowing it carried in the past. Cash on hand has inched up, but it still looks modest compared with the remaining debt load. Shareholders’ equity has been shrinking, reflecting cumulative losses and write‑downs, which means the capital cushion is thinner than it used to be. Overall, leverage is still meaningful, but the direction of travel is better: less debt than a few years ago, though with less balance‑sheet flexibility because equity has eroded.

Cash Flow

Cash Flow Despite choppy accounting profits, Teva has consistently generated positive cash from its operations. This cash flow has been fairly stable, not surging, but solid enough to support ongoing debt repayment and investment in the business. Free cash flow has remained in positive territory each year, helped by relatively modest spending on new plants and equipment. That indicates the core business is still throwing off cash even when reported earnings look weak, a common pattern in companies dealing with large non‑cash charges or legal provisions. The flip side is that cash generation, while steady, is not so strong that it eliminates financial risk. It supports gradual deleveraging and R&D spending, but leaves limited room for major missteps or large new obligations.

Competitive Edge

Competitive Edge Teva remains one of the world’s largest generic drug manufacturers, which gives it powerful advantages in scale, manufacturing efficiency, and global distribution. Its broad portfolio and long relationships with health systems and pharmacies provide a durable commercial footprint. The company is trying to move from being mainly a low‑cost generic producer to a hybrid model that also leans on higher‑value specialty and innovative medicines. Its strengths in complex generics, biosimilars, and combination drug‑device products help differentiate it from more basic generic competitors. At the same time, the generic industry is structurally tough: ongoing price erosion, intense competition, and regulatory and legal risks, including past opioid‑related issues, all weigh on Teva’s bargaining power and margins. The shift toward more specialized products is partly a response to these pressures but will take time to fully reshape its competitive profile.

Innovation and R&D

Innovation and R&D Teva is in the middle of a strategic pivot toward innovation. Beyond its traditional generics base, it is building a portfolio of specialty medicines in neurology, psychiatry, and other chronic conditions, anchored by products like Austedo, Ajovy, and Uzedy. Management is leaning into technology: using artificial intelligence in research and development, launching the Teva Rise open‑innovation platform to partner with startups, and expanding in complex generics, biosimilars, and drug‑device combinations. These areas are harder for competitors to copy and can support better pricing and longer product lifecycles. The late‑stage pipeline includes long‑acting injectables for mental health, treatments for inflammatory diseases, a range of biosimilars, and a planned generic version of a GLP‑1 diabetes drug. These projects, if successful, could gradually shift the revenue mix toward higher‑margin, more differentiated therapies. The key uncertainty is execution: clinical results, regulatory approvals, and commercial uptake all need to align for this innovation push to materially change Teva’s financial story.

Summary

Teva is a large pharmaceutical company in transition. Its sales base, driven by generics and a growing set of specialty drugs, has held up reasonably well, but profitability has been volatile and mostly weak, weighed down by pricing pressure, restructuring, and legal and other non‑recurring costs. The balance sheet shows gradual healing through steady debt reduction, yet remains stretched, with a thinner equity base and only moderate cash relative to obligations. In contrast, cash flows are more reassuring: the business consistently generates cash, supporting debt repayment and ongoing R&D, though not at a level that eliminates financial risk. Strategically, Teva is trying to turn its generics scale into a foundation for a more innovative, technology‑enabled pharmaceutical company. Its focus on complex generics, biosimilars, and specialty drugs, supported by AI‑driven R&D and external partnerships, offers clear upside potential. The overall picture is of a company with a strong global footprint and improving strategic focus, but still working through financial and industry headwinds as it attempts to complete its pivot from volume‑driven generics to more differentiated, higher‑value medicines.

NEWS

November 25, 2025 · 8:10 AM UTC

Teva receives European Commission approvals for PONLIMSI® (denosumab) Biosimilar to Prolia® and DEGEVMA® (denosumab) Biosimilar to Xgeva®

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November 21, 2025 · 4:30 PM UTC

Teva to Present at the 8th Annual Evercore Healthcare Conference, the Piper Sandler 37th Annual Healthcare Conference and Citi's 2025 Global Healthcare Conference in December

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November 7, 2025 · 6:00 PM UTC

AUSTEDO® (deutetrabenazine) tablets and AUSTEDO XR® (deutetrabenazine) extended-release tablets Demonstrate Positive Real-world Impact, with Patients Reporting Improvement in Involuntary Movements and Activities of Daily Living

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November 5, 2025 · 7:00 AM UTC

Teva's Innovative Portfolio Drives 11th Consecutive Quarter of Growth in Q3 2025; Increases 2025 Outlook for Austedo® and Non-GAAP EPS

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October 31, 2025 · 4:30 PM UTC

Teva to Present at UBS Global Healthcare Conference and Jefferies London Healthcare Conference in November

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