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Teva Pharmaceutical Industries (TEVA) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Teva Pharmaceutical Industries (TEVA) Q3 2026 earnings results →

Q3 2026 Revenue down 2% year over year to $4.4B · 5¢ of every $1 of revenue kept as net profit · operating margin 16.2%

Teva Pharmaceutical Industries made $4.4B in Q3 2026 (-2% Y/Y): Sale of goods $3.7B, Distribution $421M, Other $184M. Operating margin 16.2%, net earnings $234M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$4.4B

Year over year-2%

Operating margin16.2%

Net earnings$234M

Operating cash flow$241M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $4.4B in Q3 2026, down 2% year over year and up 6% from the previous quarter. Sale of goods was the largest line at 85% of revenue. Sale of goods lost $0.17B year over year (down 4%), 196% of the total change.

Gross margin was 55.5%, up 4.1 points from Q3 2025. Operating profit was $0.71B, a 16.2% margin (down 3.4 points year over year). Operating expenses grew 21% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+119%). Net earnings were $0.23B, down 46% year over year. The effective tax rate was 22.0%.

Operating cash flow was $0.24B (down 35% year over year), 103% of net earnings. Non-cash charges added back $0.24B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.28B. Capital expenditures of $0.12B left free cash flow of $0.12B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Nov 3, 2026	$4.4B	-2%	16.2%	$234M	$241M
Q2 2026	10-Q	Jul 29, 2026	$4.1B	-0.8%	-5.6%	−$575M	$411M
Q1 2026	10-Q	Apr 29, 2026	$4.0B	+2%	16.4%	$369M	−$40.0M
Q4 2025	10-K	Feb 3, 2026	$4.7B	+11%	6.4%	$480M	$1.2B
Q3 2025	10-Q	Nov 5, 2025	$4.5B	+3%	19.7%	$433M	$369M
Q2 2025	10-Q	Jul 30, 2025	$4.2B	+0.3%	10.9%	$282M	$227M
Q1 2025	10-Q	May 7, 2025	$3.9B	+2%	13.3%	$214M	−$105M

Charts

Latest (Q3 2026): Y/Y -2%, Q/Q +6%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $234M, Operating cash flow $241M.

+6.2% since FY2020: more shares outstanding (issuance, stock pay).

Cash $3.3B, short-term investments —, long-term debt — at 2024-12-31.

Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.