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; 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; Promacta/Revolade for immune thrombocytopenia (ITP), thrombocytopenia, and aplastic anemia patients; Tafinlar+Mekinist, an oral combination therapy to treat cancer patients; and Jakavi for treating myelofibrosis, polycythemia vera, and acute or chronic graftversushost disease. It also provides Tasigna to treat philadelphia chromosomepositive chronic myeloid leukemia in chronic and/or accelerated phase; Xolair for treating allergic asthma and nasal polyps or severe chronic rhinosi nusitis with nasal polyps; Ilaris to treat fever syndromes, Stills 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 functional gastro intestinal and pancreatic neuroendocrine tumors; Zolgensma to treat 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) to reduce LDL cholesterol. Novartis AG has a strategic alliance with CAS for enhancing reaction data accessibility and supporting AI-enabled research. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.

Ticker
NVS
Exchange
NYSE
Sector
Healthcare
Industry
Drug Manufacturers - General
Market cap
$307.00B
52-week range
$123.24 - $170.46

Valuation

Share price
$162.55 (close of Nov 6, 2026)
P/E (TTM)
30.96x
Price to book
8.17x
Price to free cash flow
19.61x
Enterprise value
$346.44B
Book value per share
$19.89

Price performance

PeriodChange
1 day+0.38%
5 days+1.09%
1 month+15.46%
3 months+5.41%
6 months+9.56%
Year to date+17.90%
1 year+28.43%
3 years+73.94%
5 years+94.32%
10 years+158.22%
All time+509.77%

Short interest

As of
Oct 15, 2026
Short % of float
0.30%
Shares short
5.59M
Days to cover
3.20
Change since prior report
-0.69%
Source
FINRA consolidated short interest

Members of Congress who disclosed NVS trades

Lisa McClain · Alan Armstrong · George Whitesides · Kevin Hern

Super investors holding NVS

Dodge & Cox (Dodge & Cox Funds) · Ken Griffin (Citadel) · Tweedy Browne (Tweedy Browne Company LLC) · Lee Ainslie (Maverick Capital LTD) · Kahn Brothers (Kahn Brothers Group) · Sarah Ketterer (Causeway Capital Management LLC)

Profitability and growth

Return on equity
30.04%
Return on invested capital
18.63%
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)
5.10%
Current ratio
0.88x
Net debt to EBITDA
1.79x

Latest reported year

Period end
Dec 31, 2025
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 endRevenueGross profitNet incomeEPS
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$2.82

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3178.81%25.64%30.04%18.63%
2024-12-3177.30%23.73%27.06%17.04%
2023-12-3175.24%32.68%31.76%12.61%
2022-12-3175.53%16.48%11.70%7.81%
2021-12-3175.36%56.15%35.42%11.51%
2020-12-3171.47%16.59%14.24%13.48%
2019-12-3172.11%24.70%21.12%12.11%
2018-12-3170.46%28.13%16.03%8.61%
2017-12-3170.25%18.18%10.38%9.43%
2016-12-3165.78%13.83%8.96%-

Cash and debt by year

Period endCash
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
2017-12-31$8.86B
2016-12-31$7.01B

Free cash flow by year

Period endFree cash flowStock-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
Mar 11, 2026
Paid in the last twelve months
$4.77
Payment dateDividend 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$2.87

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-27Sep 2026$2.25
2026-07-21Jun 2026$2.20
2026-04-28Mar 2026$2.11
2026-02-04Dec 2025$1.99
2025-10-28Sep 2025$2.26
2025-07-17Jun 2025$2.38
2025-04-29Mar 2025$2.12
2025-01-31Dec 2024$1.81

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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Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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