TEVA PHARMACEUTICAL INDUSTRIES LTD (TEVA)

NYSEHealth CareDrug Manufacturers - Specialty & GenericSnapshot 2026-10-23

$39.41-1.99%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge TEVA PHARMACEUTICAL INDUSTRIES LTD’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	4.15B
EPS	—	0.745
Annual ending 2026-12-31
Revenue	—	16.34B
EPS	—	1.998
Annual ending 2027-12-31
Revenue	—	16.97B
EPS	—	3.036

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Achieve free cash flow of $2.0-$2.4 billion in FY26	Free cash flow is targeted at $2.0-$2.4 billion.	Intact	Free cash flow falls below $2.0 billion in FY26	Free cash flow: $307M FY2026-Q2; GAAP. Published target: >= $2.0 billion. Target period is not explicitly aligned with this observation. Source published Jul 29, 2026307,000,000 USD · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Sustain positive earnings beats and stable guidance	Recent earnings beats show improving execution.	Broken	Earnings misses with guidance cuts in two consecutive quarters	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain operating margin near 26.6% in FY25	A supporting condition in TEVA PHARMACEUTICAL INDUSTRIES LTD's published investment case. The stated target is ~26.65%.	Broken	Operating margin falls below 25% in FY25	Operating margin: -5.58% FY2026-Q2; GAAP. Published target: ~26.65%. Target period is not explicitly aligned with this observation. Source published Jul 29, 2026-5.577016 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: d0ebc66e-6391-43c0-95e4-738b6586cb9d. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain revenue between $16.4B and $16.8B in FY26	A primary condition in TEVA PHARMACEUTICAL INDUSTRIES LTD's published investment case. The stated target is >= $16.4 billion.	Intact	Annual revenue falls below $16.4 billion in FY26	Revenue: $4.142B FY2026-Q2; GAAP. Published target: >= $16.4 billion. Target period is not explicitly aligned with this observation. Source published Jul 29, 20264,142,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: d0ebc66e-6391-43c0-95e4-738b6586cb9d. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$3.04

$3.09 → $3.04 · observed estimates

FY2027 revenue$16.97B

$17.23B → $16.97B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$3.09	$17,232,322,990	12 / 10
2026-07-25	$3.09	$17,232,322,990	12 / 10
2026-07-26	$3.08	$17,204,194,190	7 / 8
2026-07-27	$3.09	$17,232,322,990	12 / 10
2026-07-28	$3.09	$17,232,322,990	12 / 10
2026-07-29	$3.09	$17,197,376,340	7 / 8
2026-07-30	$3.08	$17,238,533,519	7 / 8
2026-07-31	$3.07	$17,285,479,256	7 / 8
2026-08-01	$3.07	$17,285,479,256	7 / 8
2026-08-02	$3.07	$17,304,303,700	12 / 10
2026-08-03	$3.07	$17,304,303,700	12 / 10
2026-08-04	$3.07	$17,304,303,700	12 / 10
2026-08-05	$3.07	$17,304,303,700	12 / 10
2026-08-06	$3.07	$17,285,479,256	7 / 8
2026-08-08	$3.07	$17,304,303,700	12 / 10
2026-08-09	$3.07	$17,304,303,700	12 / 10
2026-08-10	$3.07	$17,285,479,256	7 / 8
2026-08-12	$3.07	$17,304,303,700	12 / 10
2026-08-13	$3.07	$17,304,303,700	12 / 10
2026-08-14	$3.07	$17,285,479,256	7 / 8
2026-08-15	$3.07	$17,285,479,256	7 / 8
2026-08-16	$3.07	$17,285,479,256	7 / 8
2026-08-17	$3.07	$17,285,479,256	7 / 8
2026-08-18	$3.07	$17,285,479,256	7 / 8
2026-08-19	$3.07	$17,285,479,256	7 / 8
2026-08-20	$3.07	$17,285,479,256	7 / 8
2026-08-21	$3.07	$17,285,479,256	7 / 8
2026-08-22	$3.07	$17,285,479,256	7 / 8
2026-08-23	$3.07	$17,285,479,256	7 / 8
2026-08-24	$3.07	$17,285,479,256	7 / 8
2026-08-25	$3.07	$17,285,479,256	7 / 8
2026-08-26	$3.07	$17,285,479,256	7 / 8
2026-08-27	$3.07	$17,285,479,256	7 / 8
2026-08-28	$3.07	$17,285,479,256	7 / 8
2026-08-29	$3.07	$17,285,479,256	7 / 8
2026-08-30	$3.07	$17,285,479,256	7 / 8
2026-08-31	$3.07	$17,285,479,256	7 / 8
2026-09-01	$3.07	$17,285,479,256	7 / 8
2026-09-02	$3.07	$17,285,479,256	7 / 8
2026-09-03	$3.06	$17,286,308,699	7 / 8
2026-09-04	$3.06	$17,286,304,713	7 / 8
2026-09-05	$3.07	$17,285,100,204	7 / 8
2026-09-06	$3.07	$17,285,100,204	7 / 8
2026-09-07	$3.07	$17,285,100,204	7 / 8
2026-09-08	$3.07	$17,285,100,204	7 / 8
2026-09-09	$3.07	$17,285,100,204	7 / 8
2026-09-10	$3.07	$17,285,100,204	7 / 8
2026-09-11	$3.06	$17,305,750,178	7 / 8
2026-09-12	$3.06	$17,305,750,178	7 / 8
2026-09-13	$3.06	$17,305,750,178	7 / 8
2026-09-14	$3.06	$17,305,750,178	7 / 8
2026-09-15	$3.05	$17,253,756,475	7 / 8
2026-09-16	$3.05	$17,248,754,404	6 / 7
2026-09-17	$3.07	$17,307,702,086	6 / 7
2026-09-18	$3.07	$17,307,702,086	6 / 7
2026-09-19	Unavailable	$17,366,650,591	3 / 8
2026-09-20	Unavailable	$17,366,650,591	4 / 8
2026-09-21	Unavailable	$17,366,650,591	4 / 8
2026-09-22	Unavailable	$17,355,934,734	4 / 8
2026-09-23	Unavailable	$17,412,218,565	4 / 8
2026-09-24	Unavailable	$17,459,609,081	4 / 8
2026-09-25	$3.07	$17,296,026,655	5 / 8
2026-09-26	Unavailable	$17,254,476,219	4 / 9
2026-09-27	$3.06	$17,273,166,098	5 / 9
2026-09-28	$3.06	$17,273,166,098	5 / 9
2026-09-29	$3.06	$17,270,533,475	5 / 9
2026-09-30	$3.04	$17,125,192,220	5 / 9
2026-10-01	$3.04	$17,171,216,328	5 / 9
2026-10-02	$3.05	$17,193,331,556	5 / 9
2026-10-03	$3.07	$17,172,401,382	6 / 10
2026-10-04	$3.07	$17,168,126,965	6 / 10
2026-10-05	$3.09	$17,231,440,995	6 / 10
2026-10-06	$3.09	$17,231,440,995	6 / 10
2026-10-07	$3.08	$17,219,292,883	6 / 10
2026-10-08	$3.10	$17,329,742,859	6 / 10
2026-10-09	$3.08	$17,195,555,294	7 / 10
2026-10-10	$3.08	$17,227,809,945	8 / 10
2026-10-11	$3.08	$17,227,809,945	8 / 10
2026-10-12	$3.08	$17,206,825,960	8 / 10
2026-10-13	$3.06	$17,122,663,596	9 / 10
2026-10-14	$3.06	$17,130,045,191	9 / 10
2026-10-15	$3.03	$16,988,213,120	9 / 10
2026-10-16	$3.04	$16,988,213,120	9 / 10
2026-10-17	$3.04	$16,988,213,120	9 / 10
2026-10-18	$3.04	$16,968,177,363	9 / 10
2026-10-19	$3.04	$16,968,177,363	9 / 10
2026-10-20	$3.02	$16,898,579,469	9 / 9
2026-10-21	$3.04	$16,985,731,138	9 / 9
2026-10-22	$3.04	$17,020,042,547	9 / 9
2026-10-23	$3.06	$17,093,859,778	8 / 9
2026-10-24	$3.04	$16,971,452,063	8 / 9

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	13	1
2026-06-01	13	0
2026-07-01	12	0
2026-08-01	12	1
2026-09-01	12	1
2026-10-01	12	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 12 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 2 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

BarclaysOct 15 · prior Aug 12

$42.00 → $47.00+11.9%

Raymond JamesOct 12

$50.00New observation · no comparable prior

$0$27.50$55.00

1 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Achieve free cash flow of $2.0-$2.4 billion in FY26Free cash flow: $307M
Sustain positive earnings beats and stable guidancePublished status: Broken
Maintain operating margin near 26.6% in FY25Published status: Broken
Maintain revenue between $16.4B and $16.8B in FY26Revenue: $4.142B

Next proof point

Nov 3, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.3%Typical daily move · historical

Downside history

-21.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

TEVA PHARMACEUTICAL INDUSTRIES LTD outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

TEVA is a pharmaceutical transition story, with growth shifting toward innovative brands and biosimilars. Its multi-year view is intact, supported by strong recent performance and execution, but management is rated neutral and the valuation evidence is mixed.

What's priced into TEVA PHARMACEUTICAL INDUSTRIES LTD

The evidence tags expectations as justified, with a small expectations gap, but also describes TEVA as expensive overall and cheap versus peers. Valuation confidence is low, and the valuation score recently fell, so the market’s assumptions are not clear-cut.

What the fundamentals likely do

Near-term results have been strong, and innovative brands grew sharply in the first half of 2026; management also raised their combined 2026 revenue outlook. Pipeline progress and biosimilar launches support the multi-year thesis, while the near-term earnings miss risk is described as low, though recent surprises have been erratic.

What TEVA PHARMACEUTICAL INDUSTRIES LTD hinges on

The thesis depends on continued execution in innovative brands, late-stage pipeline development, and biosimilars. A guidance cut after the recent increase would damage credibility; weakening jobs data could also add pressure, while continued strength among healthcare peers would support the sector backdrop.