Novartis AG (NVS)
Novartis AG researches, develops, manufactures, distributes, markets, and sells pharmaceutical medicines in Switzerland and internationally. The company offers Entresto, an angiotensin receptorneprilysin inhibitor to treat symptomatic chronic heart failure with reduced ejection fraction (HFrEF); Cosentyx to treat plaque psoriasis, pso riatic arthritis, ankylosing spondylitis, and nonradiographic axial spondy loarthritis; Kisqali, a selective oral cyclin dependent inhibitor of kinases 4 and 6 (CDK4/6); Promacta/Revolade to treat immune thrombocytopenia (ITP), thrombocytopenia, and patients with severe aplastic anemia (SAA); Tafinlar+Mekinist, an oral combination therapy to treat patients with certain types of cancers; and Jakavi for the treatment of myelofibrosis, polycythemia vera, and acute or chronic graftversushost disease (GvHD). It also provides Tasigna to treat philadelphia chromosomepositive chronic myeloid leukemia in the chronic and/or accelerated phase; Xolair for the treatment of allergic asthma and nasal polyps or severe chronic rhinosi nusitis with nasal polyps; Ilaris to treat fever syndromes, Still's disease, and acute gouty arthritis; Pluvicto to treat prostatespecific membrane anti genpositive metastatic castrationresistant prostate cancer; Sandostatin SC and Sandostatin LAR to treat acromegaly carcinoid tumors and other types of functional gastro intestinal and pancreatic neuroendocrine tumors; Zolgensma for the treatment of genetic root cause of spinal muscular atrophy; Lucentis; Leqvio to reduce LDL cholesterol; Lutathera; Scemblix; and Fabhalta. The company focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, oncology, and hematology. It has a license and collaboration agreement with Alnylam Pharmaceuticals, Inc. to develop, manufacture, and commercialize Leqvio (inclisiran), a therapy to reduce LDL cholesterol. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.
- Symbol
- NVS
- Exchange
- NYSE
- Sector
- Healthcare
- Industry
- Drug Manufacturers - General
- Market cap
- $275.21B
- 52 week range
- 121.57 - 170.46
Valuation
- Share price
- $142.71 (close of 2026-09-23)
- P/E (TTM)
- 25.46x
- Price to book
- 6.54x
- Price to free cash flow
- 10.04x
- Enterprise value
- $301.19B
- Book value per share
- $21.59
Price performance
| Period | Change |
|---|
| 1 day | +1.23% |
| 5 days | +2.95% |
| 1 month | -10.17% |
| 3 months | -6.96% |
| 6 months | -3.63% |
| Year to date | +3.51% |
| 1 year | +16.19% |
| 3 years | +41.10% |
| 5 years | +70.77% |
| 10 years | +95.47% |
| All time | +435.30% |
Profitability and growth
- Return on equity
- 30.04%
- Return on invested capital
- 21.65%
- Return on assets
- 12.60%
- Return on capital employed
- 21.09%
- Gross margin
- 78.81%
- Net margin
- 25.64%
- EBITDA margin
- 32.36%
- Revenue growth
- 8.38%
- Net income growth
- 17.11%
- Free cash flow growth
- 8.26%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 9.96%
- Current ratio
- 0.82x
- Net debt to EBITDA
- 1.72x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $54.53B
- Cost of revenue
- $13.70B
- Gross profit
- $42.98B
- EBITDA
- $17.64B
- Net income
- $13.98B
- Earnings per share
- $7.21
- Research and development
- $11.20B
- Shares outstanding
- 1.94B
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $54.53B | $42.98B | $13.98B | $7.21 |
| 2024-12-31 | $50.32B | $38.90B | $11.94B | $5.92 |
| 2023-12-31 | $45.44B | $34.19B | $14.85B | $7.15 |
| 2022-12-31 | $42.21B | $31.88B | $6.96B | $3.19 |
| 2021-12-31 | $42.78B | $32.24B | $24.02B | $10.71 |
| 2020-12-31 | $48.66B | $34.78B | $8.07B | $3.55 |
| 2019-12-31 | $47.50B | $34.25B | $11.73B | $5.12 |
| 2018-12-31 | $44.83B | $31.59B | $12.61B | $5.44 |
| 2017-12-31 | $42.38B | $29.77B | $7.70B | $3.28 |
| 2016-12-31 | $48.52B | $31.92B | $6.71B | $2.53 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 78.81% | 25.64% | 30.04% | 21.65% |
| 2024-12-31 | 77.30% | 23.73% | 27.06% | 20.09% |
| 2023-12-31 | 75.24% | 32.68% | 31.76% | 15.44% |
| 2022-12-31 | 75.53% | 16.48% | 11.70% | 8.54% |
| 2021-12-31 | 75.36% | 56.15% | 35.42% | 14.07% |
| 2020-12-31 | 71.47% | 16.59% | 14.24% | 16.27% |
| 2019-12-31 | 72.11% | 24.70% | 21.12% | 15.07% |
| 2018-12-31 | 70.46% | 28.13% | 16.03% | 10.36% |
| 2017-12-31 | 70.25% | 18.18% | 10.38% | 10.80% |
| 2016-12-31 | 65.78% | 13.83% | 8.96% | 10.53% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $11.44B |
| 2024-12-31 | $11.46B |
| 2023-12-31 | $13.39B |
| 2022-12-31 | $7.52B |
| 2021-12-31 | $12.41B |
| 2020-12-31 | $9.66B |
| 2019-12-31 | $11.11B |
| 2018-12-31 | $13.27B |
| 2018-01-01 | $8.86B |
| 2017-12-31 | $8.86B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $17.60B | $1.10B |
| 2024-12-31 | $16.25B | $1.04B |
| 2023-12-31 | $13.40B | $865.00M |
| 2022-12-31 | $13.32B | $791.00M |
| 2021-12-31 | $14.01B | $700.00M |
| 2020-12-31 | $12.38B | $738.00M |
| 2019-12-31 | $12.25B | $758.00M |
| 2018-12-31 | $13.02B | $673.00M |
| 2017-12-31 | $11.30B | $612.00M |
| 2016-12-31 | $9.61B | $671.00M |
Dividend history
- Most recent payment
- 2026-03-11
- Paid in the last twelve months
- $4.77
| Payment date | Dividend per share |
|---|
| 2026-03-11 | $4.77 |
| 2025-03-12 | $3.99 |
| 2024-03-07 | $3.74 |
| 2023-03-09 | $3.47 |
| 2022-03-08 | $3.36 |
| 2021-03-04 | $3.38 |
| 2020-03-03 | $3.04 |
| 2019-03-04 | $2.57 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-27
- Consensus EPS estimate
- $2.24
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-21 | Jun/2026 | $2.20 |
| 2026-04-28 | - | - |
| 2026-02-04 | - | - |
| 2025-10-28 | - | - |
| 2025-07-17 | - | - |
| 2025-04-29 | - | - |
| 2025-01-31 | - | - |
| 2024-10-29 | - | - |
Filings and sources
- Company website
- novartis.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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