Teva Pharmaceutical Industries
TEVA on NYSE. Teva sells generic and branded medicines to patients and healthcare providers. Market value $46.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.95 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 46 of 100. Price score: 41 of 100. Our list needs 70 on quality and 60 on price.
$39.13 a share, 108% above its 1-year low
Over the past year the price has ranged from $18.83 to $40.79.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $15.9bn | $14.9bn | $15.8bn | $16.5bn | $17.3bn |
| Operating margin | |||||
| Operating margin | 10.8% | -14.7% | 2.7% | -1.8% | 12.5% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.11bn | 1.12bn | 1.13bn | 1.15bn | 1.17bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 0.7% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $4.1 billion last quarter, down 1% on a year ago.
- A loss of $576 million, after a profit of $282 million a year ago.
- It keeps 9 cents of each $1 of sales as operating profit, up from 5 cents a year earlier.
- Spare cash over the past 12 months: $1.3 billion, up from $890 million.
- About the same number of shares as a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $4.3bn |
| December 2024 | $4.2bn |
| March 2025 | $3.9bn |
| June 2025 | $4.2bn |
| September 2025 | $4.5bn |
| December 2025 | $1.5bn |
| March 2026 | $4.0bn |
| June 2026 | $4.1bn |
| Quarter to | Amount |
|---|---|
| September 2024 | -$437m |
| December 2024 | -$217m |
| March 2025 | $214m |
| June 2025 | $282m |
| September 2025 | $433m |
| December 2025 | $480m |
| March 2026 | $369m |
| June 2026 | -$576m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 3 February 2026
- Next quarterly (estimated, 10-Q)
- 28 October 2026
Who owns it
5 long-term investors we follow own it, unchanged from 5 last quarter. 673 funds in all.
- Greenlight CapitalDavid Einhorn
- Value
- $98m
- Share of fund
- 2.5%
- GAMCO InvestorsMario Gabelli
- Value
- $2m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Glenview Capital ManagementLarry Robbins | $172m | 3.4% | Cut |
| Sound Shore ManagementHarry Burn | $129m | 4.0% | Cut |
| Greenlight CapitalDavid Einhorn | $98m | 2.5% | |
| GAMCO InvestorsMario Gabelli | $2m | <0.1% | |
| First Manhattan Co.First Manhattan partners | $1m | <0.1% | Cut |
Largest holders overall
- BlackRock$2.2bn
- Harel Insurance Investments & Financial Services$1.6bnAdded
- Phoenix Financial$1.5bn
- WCM Investment Management$1.4bn
- Clal Insurance Enterprises Holdings$1.4bnAdded
- Menora Mivtachim Holdings$1.4bn
- Migdal Insurance & Financial Holdings$1.3bnAdded
- Norges Bank$1.1bnNew
- FMR$1.0bnCut
- Lingotto Investment Management LLP$685mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Harel Insurance Investments & Financial Services LtdPassive investor6.3%+1.2 ptsSince 31 December 2025
- Migdal Insurance & Financial Holdings LtdPassive investor5.4%Since 31 December 2025
- Phoenix Financial Ltd.Passive investor5.0%Since 14 July 2025
- Menora Mivtachim Holdings LtdPassive investor5.0%Since 16 July 2025
- FMR LLCPassive investorSold down below 5%Since 30 September 2025
| Holder | Stake | Since | |
|---|---|---|---|
Harel Insurance Investments & Financial Services Ltd Passive investor | 6.3%+1.2 pts | 31 December 2025 | |
Migdal Insurance & Financial Holdings Ltd Passive investor | 5.4% | 31 December 2025 | |
Phoenix Financial Ltd. Passive investor | 5.0% | 14 July 2025 | |
Menora Mivtachim Holdings Ltd Passive investor | 5.0% | 16 July 2025 | |
FMR LLC Passive investor | Sold down below 5% | 30 September 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 14 sold $113m, $69m of it under preset trading plans.
- Savage BrianInterim Chief Legal OfficerSold
- Date
- 18 September 2026
- Shares
- 7,342
- Price
- $38.85
- Value
- $285,215
- MIGNONE ROBERTODirectorSold
- Date
- 18 September 2026
- Shares
- 367,600
- Price
- $39.06
- Value
- $14m
- Weiss AmirChief Accounting OfficerSold
- Date
- 21 August 2026
- Shares
- 9,445
- Price
- $37.62
- Value
- $355,301
- Satchi-Fainaro RonitDirectorSold
- Date
- 21 August 2026
- Shares
- 415
- Price
- $37.25
- Value
- $15,459
- Lippman EvanEVP, Business DevelopmentSoldunder a preset trading plan
- Date
- 17 August 2026
- Shares
- 18,600
- Price
- $36.57
- Value
- $680,291
- Zaks Tal ZviDirectorSold
- Date
- 5 August 2026
- Shares
- 17
- Price
- $34.87
- Value
- $593
- Jover PlacidSee "Remarks"Soldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 12,827
- Price
- $34.88
- Value
- $447,351
- Hughes Eric ASee "Remarks"Soldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 25,578
- Price
- $34.88
- Value
- $892,051
- Shields MatthewEVP, Global OperationsSold
- Date
- 18 June 2026
- Shares
- 9,989
- Price
- $32.19
- Value
- $321,546
- Kalif Eliyahu SharonEVP, Chief Financial OfficerSoldunder a preset trading plan
- Date
- 11 June 2026
- Shares
- 106,563
- Price
- $34.10
- Value
- $4m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 18 September 2026 | Savage Brian Interim Chief Legal Officer | Sold | 7,342 | $38.85 | $285,215 |
| 18 September 2026 | MIGNONE ROBERTO Director | Sold | 367,600 | $39.06 | $14m |
| 21 August 2026 | Weiss Amir Chief Accounting Officer | Sold | 9,445 | $37.62 | $355,301 |
| 21 August 2026 | Satchi-Fainaro Ronit Director | Sold | 415 | $37.25 | $15,459 |
| 17 August 2026 | Lippman Evan EVP, Business Development | Sold under a preset trading plan | 18,600 | $36.57 | $680,291 |
| 5 August 2026 | Zaks Tal Zvi Director | Sold | 17 | $34.87 | $593 |
| 3 August 2026 | Jover Placid See "Remarks" | Sold under a preset trading plan | 12,827 | $34.88 | $447,351 |
| 3 August 2026 | Hughes Eric A See "Remarks" | Sold under a preset trading plan | 25,578 | $34.88 | $892,051 |
| 18 June 2026 | Shields Matthew EVP, Global Operations | Sold | 9,989 | $32.19 | $321,546 |
| 11 June 2026 | Kalif Eliyahu Sharon EVP, Chief Financial Officer | Sold under a preset trading plan | 106,563 | $34.10 | $4m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have barely grown: 0.7% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.