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Novartis (NVS) Financials

Novartis logo
$145.11 -0.92 (-0.63%)
Closing price 03:59 PM Eastern
Extended Trading
$145.21 +0.09 (+0.06%)
As of 04:15 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Novartis

Annual Income Statements for Novartis

This table shows Novartis' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 6,712 7,703 12,611 11,732 8,072 24,021 6,955 14,850 11,941 13,984
Consolidated Net Income / (Loss)		 6,698 7,703 12,614 11,737 8,071 24,018 6,955 14,854 11,939 13,967
Net Income / (Loss) Continuing Operations		 6,698 7,499 12,800 7,147 8,071 22,905 6,049 8,572 11,939 13,967
Total Pre-Tax Income 		7,817 9,102 14,095 8,940 9,878 24,530 7,177 9,123 13,640 16,352
Total Operating Income		 8,268 8,702 8,403 9,086 10,152 10,056 7,946 9,769 14,544 17,644
Total Gross Profit		 31,916 29,771 31,589 34,252 34,777 32,239 31,879 34,188 38,895 42,975
Total Revenue		 49,436 43,404 46,099 48,677 49,898 43,974 43,461 46,660 51,722 56,674
Operating Revenue		 48,518 42,381 44,833 47,498 48,659 42,781 42,206 45,440 50,317 54,532
Other Revenue		 918 1,023 1,266 1,179 1,239 1,193 1,255 1,220 1,405 2,142
Total Cost of Revenue		 17,520 13,633 14,510 14,425 15,121 11,735 11,582 12,472 12,827 13,699
Operating Cost of Revenue		 17,520 13,633 14,510 14,425 15,121 11,735 11,582 12,472 12,827 13,699
Total Operating Expenses		 23,648 21,069 23,186 25,166 24,625 22,183 23,933 24,419 24,351 25,331
Selling, General & Admin Expense		 14,192 12,465 13,717 14,369 14,197 12,827 12,193 12,517 12,566 13,248
Research & Development Expense		 9,039 8,389 8,489 9,402 8,980 8,641 9,172 11,371 10,022 11,200
Other Operating Expenses / (Income)		 417 2,137 980 3,426 1,448 2,335 3,264 2,303 2,938 2,343
Other Special Charges / (Income)		 - -1,922 - -2,031 - -1,620 -696 -1,772 -1,175 -1,460
Total Other Income / (Expense), net		 -451 400 5,692 -146 -274 14,474 -769 -646 -904 -1,292
Interest Expense		 707 750 932 850 869 787 800 855 1,006 1,144
Other Income / (Expense), net		 256 1,150 6,624 704 595 15,261 31 209 102 -148
Income Tax Expense		 1,119 1,603 1,295 1,793 1,807 1,625 1,128 551 1,701 2,385
Net Income / (Loss) Discontinued Operations		 0.00 204 -186 4,590 - 1,113 906 6,282 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 14 0.00 -3.00 -5.00 1.00 3.00 0.00 -4.00 2.00 17
Basic Earnings per Share		 $2.82 $3.28 $5.44 $5.12 $3.55 $10.71 $3.19 $7.15 $5.92 $7.21
Weighted Average Basic Shares Outstanding		 2.38B 2.35B 2.34B 2.27B 2.26B 2.23B 2.12B 2.04B 1.98B 1.91B
Diluted Earnings per Share		 $2.80 $3.25 $5.38 $5.06 $3.52 $10.63 $3.17 $7.10 $5.87 $7.15
Weighted Average Diluted Shares Outstanding		 2.40B 2.35B 2.34B 2.27B 2.26B 2.23B 2.12B 2.04B 1.98B 1.91B
Weighted Average Basic & Diluted Shares Outstanding		 2.38B 2.35B 2.34B 2.27B 2.26B 2.23B 2.12B 2.04B 1.98B 1.91B

Quarterly Income Statements for Novartis

No quarterly income statements for Novartis are available.

Annual Cash Flow Statements for Novartis

This table details how cash moves in and out of Novartis' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 2,333 1,853 4,411 -2,159 -1,454 2,749 -4,890 5,876 -1,934 -24
Net Cash From Operating Activities		 11,475 12,621 14,272 13,625 5,584 15,071 14,236 14,458 17,619 19,144
Net Cash From Continuing Operating Activities		 11,475 11,419 13,049 13,547 5,584 13,365 13,039 14,220 17,619 19,144
Net Income / (Loss) Continuing Operations		 6,698 7,499 12,800 7,147 8,071 22,905 6,049 8,572 11,939 13,967
Consolidated Net Income / (Loss)		 6,698 7,499 12,800 7,147 8,071 22,905 6,049 8,572 11,939 13,967
Non-Cash Adjustments To Reconcile Net Income		 6,390 4,417 311 7,918 -50 -8,692 8,560 7,551 7,493 8,237
Changes in Operating Assets and Liabilities, net		 -1,613 -497 -62 -1,518 -2,437 -848 -1,570 -1,903 -1,813 -3,060
Net Cash From Discontinued Operating Activities		 0.00 1,202 1,223 78 - 1,706 1,197 238 0.00 0.00
Net Cash From Investing Activities		 -3,441 -3,119 -5,591 -2,226 -12,319 4,208 1,468 5,596 -7,513 -4,877
Net Cash From Continuing Investing Activities		 -2,693 -2,344 -4,590 -1,067 -12,319 4,897 1,904 6,719 -7,513 -4,877
Purchase of Property, Plant & Equipment		 -2,879 -2,294 -2,648 -1,284 -1,275 -2,556 -2,239 -2,753 -3,814 -3,900
Purchase of Investments		 -926 -974 -2,684 -590 -1,900 -16,650 -34,811 -747 -3,648 -303
Sale of Property, Plant & Equipment		 1,008 731 925 857 813 897 328 2,192 166 177
Divestitures		 0.00 29 12,854 -6.00 - 20,669 -24 0.00 0.00 0.00
Sale and/or Maturity of Investments		 869 878 646 3,716 - 2,742 39,490 11,596 3,701 2,177
Net Cash From Discontinued Investing Activities		 -748 -775 -1,001 -1,159 - -689 -436 -1,123 0.00 0.00
Net Cash From Financing Activities		 -5,314 -7,733 -4,244 -13,627 -1,255 -16,264 -20,562 -14,278 -11,742 -14,867
Net Cash From Continuing Financing Activities		 -5,314 -7,318 -4,077 -16,884 -1,255 -16,290 -20,681 -17,564 -11,742 -14,867
Repurchase of Common Equity		 -1,109 -5,490 -2,036 -5,533 - -3,057 -10,652 -8,719 -8,331 -9,212
Payment of Dividends		 -8,171 -6,683 -6,966 -9,840 - -9,530 -10,081 -9,478 -9,784 -11,210
Issuance of Debt		 3,751 4,289 4,543 -1,489 - -3,547 252 546 7,101 6,103
Other Financing Activities, net		 215 566 748 -22 748 -156 -200 87 -439 -548
Net Cash From Discontinued Financing Activities		 - -415 -167 3,257 - 26 119 3,286 0.00 0.00
Effect of Exchange Rate Changes		 -387 84 -26 69 - -266 -32 100 -298 576

Quarterly Cash Flow Statements for Novartis

No quarterly cash flow statements for Novartis are available.

Annual Balance Sheets for Novartis

This table presents Novartis' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 133,079 145,563 118,370 127,778 131,795 117,453 99,945 102,246 110,949
Total Current Assets		 28,208 35,563 29,504 29,673 45,718 36,910 30,481 29,704 30,460
Cash & Equivalents		 8,860 13,271 11,112 9,658 12,407 7,517 13,393 11,459 11,435
Accounts Receivable		 8,600 8,727 8,301 8,217 8,005 8,066 7,107 7,423 8,937
Inventories, net		 6,867 7,763 6,823 7,131 6,666 7,175 5,913 5,723 6,269
Current Deferred & Refundable Income Taxes		 202 248 254 239 278 268 426 133 205
Other Current Assets		 3,054 2,861 2,680 2,523 2,440 2,471 2,607 2,968 3,459
Other Current Nonoperating Assets		 625 2,693 334 1,905 15,922 11,413 1,035 1,998 155
Plant, Property, & Equipment, net		 16,464 15,696 12,069 12,263 11,545 10,764 9,514 9,458 10,782
Plant, Property & Equipment, gross		 16,464 15,696 12,069 12,263 11,545 10,764 9,514 9,458 10,782
Total Noncurrent Assets		 88,407 94,304 76,797 85,842 74,532 69,779 59,950 63,084 69,707
Long-Term Investments		 15,370 10,697 8,644 9,632 205 2,554 2,812 2,134 2,446
Goodwill		 31,750 35,294 26,524 29,999 29,595 29,301 23,341 24,756 25,567
Intangible Assets		 29,997 38,719 28,787 36,809 34,182 31,644 26,879 26,915 29,411
Noncurrent Deferred & Refundable Income Taxes		 8,229 8,699 7,909 3,933 3,743 3,739 4,309 4,359 5,438
Other Noncurrent Operating Assets		 3,061 895 4,933 5,469 6,807 2,541 2,609 4,920 6,845
Total Liabilities & Shareholders' Equity		 133,079 145,563 118,370 127,778 131,795 117,453 99,945 102,246 110,949
Total Liabilities		 58,852 66,871 62,819 71,112 63,973 58,030 53,195 58,120 64,400
Total Current Liabilities		 23,403 29,607 28,264 33,059 30,208 28,656 26,390 28,692 27,278
Short-Term Debt		 - 9,678 - - - 5,931 6,175 8,232 5,602
Accounts Payable		 5,169 5,556 5,424 5,403 5,553 5,146 4,926 4,572 4,456
Current Deferred & Payable Income Tax Liabilities		 1,723 2,038 2,194 2,458 2,415 2,533 1,893 1,599 1,969
Other Current Liabilities		 16,511 12,284 20,646 25,198 22,240 15,046 13,396 14,289 15,251
Total Noncurrent Liabilities		 35,449 37,264 34,555 38,053 33,765 29,374 26,805 29,428 37,122
Long-Term Debt		 - 22,470 - - - 20,244 18,436 21,366 27,935
Capital Lease Obligations		 - 0.00 1,703 1,719 1,621 1,538 1,598 1,568 1,657
Noncurrent Deferred & Payable Income Tax Liabilities		 5,168 7,475 5,867 3,141 3,070 2,686 2,248 2,419 3,397
Other Noncurrent Operating Liabilities		 30,281 7,319 26,985 33,193 29,074 4,906 4,523 4,075 4,133
Total Equity & Noncontrolling Interests		 74,168 78,692 55,551 56,666 67,822 59,423 46,750 44,126 46,549
Total Preferred & Common Equity		 74,227 78,614 55,474 56,598 67,655 59,342 46,667 44,046 46,130
Total Common Equity		 74,168 78,614 55,474 56,598 67,655 59,342 46,667 44,046 46,130
Common Stock		 969 944 936 913 901 890 825 793 766
Treasury Stock		 -100 -69 -80 -53 -48 -92 -41 -53 -50
Other Equity Adjustments		 73,299 77,739 54,618 55,738 66,802 58,544 45,883 43,306 45,414
Noncontrolling Interest		 59 78 77 68 167 81 83 80 419

Quarterly Balance Sheets for Novartis

This table presents Novartis' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q4 2023 Q4 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 117,453 99,945 102,246
Total Current Assets		 36,910 30,481 29,704
Cash & Equivalents		 7,517 13,393 11,459
Accounts Receivable		 8,066 7,107 7,423
Inventories, net		 7,175 5,913 5,723
Current Deferred & Refundable Income Taxes		 268 426 133
Other Current Assets		 2,471 2,607 2,968
Other Current Nonoperating Assets		 11,413 1,035 1,998
Plant, Property, & Equipment, net		 10,764 9,514 9,458
Plant, Property & Equipment, gross		 10,764 9,514 9,458
Total Noncurrent Assets		 69,779 59,950 63,084
Long-Term Investments		 2,554 2,812 2,134
Goodwill		 29,301 23,341 24,756
Intangible Assets		 31,644 26,879 26,915
Noncurrent Deferred & Refundable Income Taxes		 3,739 4,309 4,359
Other Noncurrent Operating Assets		 2,541 2,609 4,920
Total Liabilities & Shareholders' Equity		 117,453 99,945 102,246
Total Liabilities		 58,030 53,195 58,120
Total Current Liabilities		 28,656 26,390 28,692
Short-Term Debt		 5,931 6,175 8,232
Accounts Payable		 5,146 4,926 4,572
Current Deferred & Payable Income Tax Liabilities		 2,533 1,893 1,599
Other Current Liabilities		 15,046 13,396 14,289
Total Noncurrent Liabilities		 29,374 26,805 29,428
Long-Term Debt		 20,244 18,436 21,366
Capital Lease Obligations		 1,538 1,598 1,568
Noncurrent Deferred & Payable Income Tax Liabilities		 2,686 2,248 2,419
Other Noncurrent Operating Liabilities		 4,906 4,523 4,075
Total Equity & Noncontrolling Interests		 59,423 46,750 44,126
Total Preferred & Common Equity		 59,342 46,667 44,046
Total Common Equity		 59,342 46,667 44,046
Common Stock		 890 825 793
Treasury Stock		 -92 -41 -53
Other Equity Adjustments		 58,544 45,883 43,306
Noncontrolling Interest		 81 83 80

Annual Metrics And Ratios for Novartis

This table displays calculated financial ratios and metrics derived from Novartis' official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% -12.20% 6.21% 5.59% 2.51% -11.87% -1.17% 7.36% 10.85% 9.57%
EBITDA Growth		 0.00% 15.58% 52.53% -34.85% 9.78% 135.57% -68.49% 25.08% 46.78% 19.46%
EBIT Growth		 0.00% 15.58% 52.53% -34.85% 9.78% 135.57% -68.49% 25.08% 46.78% 19.46%
NOPAT Growth		 0.00% 1.20% 6.44% -4.81% 14.20% 13.20% -28.68% 37.06% 38.69% 18.38%
Net Income Growth		 0.00% 15.00% 63.75% -6.95% -31.23% 197.58% -71.04% 113.57% -19.62% 16.99%
EPS Growth		 0.00% 15.00% 63.75% -5.95% -30.43% 201.99% -70.18% 123.97% -17.32% 21.81%
Operating Cash Flow Growth		 0.00% 9.99% 13.08% -4.53% -59.02% 169.90% -5.54% 1.56% 21.86% 8.66%
Free Cash Flow Firm Growth		 0.00% 0.00% 106.22% 831.71% -66.22% -31.42% -418.22% 205.91% -54.23% -19.25%
Invested Capital Growth		 0.00% 0.00% 10.14% -31.65% 0.07% 10.00% 60.48% -15.13% 7.15% 13.41%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 64.56% 68.59% 68.52% 70.37% 69.70% 73.31% 73.35% 73.27% 75.20% 75.83%
EBITDA Margin		 17.24% 22.70% 32.60% 20.11% 21.54% 57.57% 18.35% 21.38% 28.32% 30.87%
Operating Margin		 16.72% 20.05% 18.23% 18.67% 20.35% 22.87% 18.28% 20.94% 28.12% 31.13%
EBIT Margin		 17.24% 22.70% 32.60% 20.11% 21.54% 57.57% 18.35% 21.38% 28.32% 30.87%
Profit (Net Income) Margin		 13.55% 17.75% 27.36% 24.11% 16.18% 54.62% 16.00% 31.83% 23.08% 24.64%
Tax Burden Percent		 85.69% 84.63% 89.49% 131.29% 81.71% 97.91% 96.91% 162.82% 87.53% 85.41%
Interest Burden Percent		 91.71% 92.39% 93.80% 91.32% 91.91% 96.89% 89.97% 91.43% 93.13% 93.46%
Effective Tax Rate		 14.32% 17.61% 9.19% 20.06% 18.29% 6.62% 15.72% 6.04% 12.47% 14.59%
Return on Invested Capital (ROIC)		 0.00% 29.04% 14.71% 15.87% 22.31% 24.05% 12.57% 15.13% 22.06% 23.66%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 24.74% -5.61% -5.12% 23.49% -39.02% 10.08% 89.81% 15.61% 17.65%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -8.27% 1.80% 1.63% -7.93% 14.54% -1.64% 12.86% 4.22% 7.15%
Return on Equity (ROE)		 0.00% 20.77% 16.51% 17.50% 14.38% 38.59% 10.93% 27.98% 26.28% 30.81%
Cash Return on Invested Capital (CROIC)		 0.00% -170.96% 5.06% 53.48% 22.24% 14.52% -33.87% 31.49% 15.16% 11.09%
Operating Return on Assets (OROA)		 0.00% 7.40% 10.79% 7.42% 8.73% 19.51% 6.40% 9.18% 14.49% 16.41%
Return on Assets (ROA)		 0.00% 5.79% 9.05% 8.89% 6.56% 18.51% 5.58% 13.67% 11.81% 13.10%
Return on Common Equity (ROCE)		 0.00% 20.77% 16.51% 17.49% 14.37% 38.51% 10.91% 27.94% 26.23% 30.64%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 10.38% 16.03% 21.16% 14.26% 35.50% 11.72% 31.83% 27.11% 0.00%
Net Operating Profit after Tax (NOPAT)		 7,084 7,169 7,631 7,264 8,295 9,390 6,697 9,179 12,730 15,071
NOPAT Margin		 14.33% 16.52% 16.55% 14.92% 16.62% 21.35% 15.41% 19.67% 24.61% 26.59%
Net Nonoperating Expense Percent (NNEP)		 0.00% 4.30% 20.32% 20.99% -1.18% 63.07% 2.49% -74.68% 6.45% 6.01%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - 7.69% 12.58% 16.91% 18.44%
Cost of Revenue to Revenue		 35.44% 31.41% 31.48% 29.63% 30.30% 26.69% 26.65% 26.73% 24.80% 24.17%
SG&A Expenses to Revenue		 28.71% 28.72% 29.76% 29.52% 28.45% 29.17% 28.06% 26.83% 24.30% 23.38%
R&D to Revenue		 18.28% 19.33% 18.41% 19.32% 18.00% 19.65% 21.10% 24.37% 19.38% 19.76%
Operating Expenses to Revenue		 47.84% 48.54% 50.30% 51.70% 49.35% 50.45% 55.07% 52.33% 47.08% 44.70%
Earnings before Interest and Taxes (EBIT)		 8,524 9,852 15,027 9,790 10,747 25,317 7,977 9,978 14,646 17,496
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8,524 9,852 15,027 9,790 10,747 25,317 7,977 9,978 14,646 17,496
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 3.70 3.23 2.59 3.15 4.42 4.52 5.90
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 1,259.09 0.00 45.10 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 4.22 3.66 3.98 4.30 4.42 3.85 4.80
Price to Earnings (P/E)		 0.00 0.00 0.00 17.49 22.62 7.28 26.90 13.88 16.66 19.47
Dividend Yield		 5.02% 4.20% 4.29% 0.00% 3.83% 4.13% 3.97% 3.60% 3.88% 2.90%
Earnings Yield		 0.00% 0.00% 0.00% 5.72% 4.42% 13.73% 3.72% 7.20% 6.00% 5.14%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 5.04 4.44 4.01 3.12 3.88 3.63 4.34
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 3.85 3.31 3.73 4.71 4.63 4.19 5.19
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 19.13 15.36 6.48 25.68 21.67 14.79 16.81
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 19.13 15.36 6.48 25.68 21.67 14.79 16.81
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 25.78 19.90 17.47 30.58 23.56 17.01 19.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 13.74 29.56 10.89 14.39 14.96 12.29 15.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 7.65 19.96 28.93 0.00 11.31 24.75 41.62
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.03 0.03 0.02 0.47 0.56 0.71 0.76
Long-Term Debt to Equity		 0.00 0.00 0.00 0.03 0.03 0.02 0.37 0.43 0.52 0.64
Financial Leverage		 0.00 -0.33 -0.32 -0.32 -0.34 -0.37 -0.16 0.14 0.27 0.41
Leverage Ratio		 0.00 1.79 1.82 1.97 2.19 2.09 1.96 2.05 2.22 2.35
Compound Leverage Factor		 0.00 1.66 1.71 1.80 2.02 2.02 1.76 1.87 2.07 2.20
Debt to Total Capital		 0.00% 0.00% 0.00% 2.97% 2.94% 2.33% 31.80% 35.92% 41.39% 43.05%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.81% 8.46% 10.93% 6.85%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 2.97% 2.94% 2.33% 25.00% 27.46% 30.46% 36.20%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.08% 0.10% 0.13% 0.12% 0.24% 0.09% 0.11% 0.11% 0.51%
Common Equity to Total Capital		 0.00% 100.00% 100.00% 96.89% 96.94% 97.43% 68.10% 63.96% 58.50% 56.43%
Debt to EBITDA		 0.00 0.00 0.00 0.17 0.16 0.06 3.47 2.63 2.13 2.01
Net Debt to EBITDA		 0.00 0.00 0.00 -1.84 -1.64 -0.43 2.21 1.00 1.20 1.22
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.17 0.16 0.06 2.73 2.01 1.57 1.69
Debt to NOPAT		 0.00 0.00 0.00 0.23 0.21 0.17 4.14 2.86 2.45 2.34
Net Debt to NOPAT		 0.00 0.00 0.00 -2.49 -2.12 -1.17 2.63 1.09 1.38 1.41
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.23 0.21 0.17 3.25 2.18 1.80 1.96
Altman Z-Score		 0.00 0.00 0.00 2.66 2.18 2.75 2.61 3.17 3.04 3.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.06% 0.13% 0.19% 0.19% 0.15% 0.18% 0.55%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 1.21 1.20 1.04 0.90 1.51 1.29 1.16 1.04 1.12
Quick Ratio		 0.00 0.75 0.74 0.69 0.54 0.68 0.54 0.78 0.66 0.75
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -42,203 2,627 24,476 8,269 5,671 -18,046 19,112 8,748 7,065
Operating Cash Flow to CapEx		 613.31% 807.49% 828.32% 3,190.87% 1,208.66% 908.44% 744.95% 2,577.18% 482.98% 514.21%
Free Cash Flow to Firm to Interest Expense		 0.00 -56.27 2.82 28.80 9.52 7.21 -22.56 22.35 8.70 6.18
Operating Cash Flow to Interest Expense		 16.23 16.83 15.31 16.03 6.43 19.15 17.80 16.91 17.51 16.73
Operating Cash Flow Less CapEx to Interest Expense		 13.58 14.74 13.46 15.53 5.89 17.04 15.41 16.25 13.89 13.48
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.33 0.33 0.37 0.41 0.34 0.35 0.43 0.51 0.53
Accounts Receivable Turnover		 0.00 5.05 5.32 5.72 6.04 5.42 5.41 6.15 7.12 6.93
Inventory Turnover		 0.00 1.99 1.98 1.98 2.17 1.70 1.67 1.91 2.20 2.28
Fixed Asset Turnover		 0.00 2.64 2.87 3.51 4.10 3.69 3.90 4.60 5.45 5.60
Accounts Payable Turnover		 0.00 2.64 2.71 2.63 2.79 2.14 2.17 2.48 2.70 3.03
Days Sales Outstanding (DSO)		 0.00 72.32 68.60 63.84 60.41 67.32 67.48 59.35 51.27 52.68
Days Inventory Outstanding (DIO)		 0.00 183.85 184.01 184.54 168.42 214.57 218.10 191.51 165.55 159.76
Days Payable Outstanding (DPO)		 0.00 138.39 134.89 138.92 130.67 170.39 168.59 147.38 135.14 120.27
Cash Conversion Cycle (CCC)		 0.00 117.78 117.71 109.46 98.15 111.51 116.99 103.48 81.69 92.17
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 49,372 54,376 37,164 37,190 40,909 65,652 55,719 59,701 67,707
Invested Capital Turnover		 0.00 1.76 0.89 1.06 1.34 1.13 0.82 0.77 0.90 0.89
Increase / (Decrease) in Invested Capital		 0.00 49,372 5,004 -17,212 26 3,719 24,743 -9,933 3,982 8,006
Enterprise Value (EV)		 0.00 0.00 0.00 187,256 165,077 164,078 204,812 216,228 216,558 294,038
Market Capitalization		 0.00 0.00 0.00 205,232 182,580 174,902 187,089 206,141 198,905 272,306
Book Value per Share		 $0.00 $31.61 $33.54 $24.00 $24.99 $29.98 $28.00 $22.02 $21.55 $23.36
Tangible Book Value per Share		 $0.00 $5.29 $1.96 $0.07 ($4.51) $1.72 ($0.76) ($1.68) ($3.73) ($4.48)
Total Capital		 0.00 74,168 78,614 57,254 58,385 69,443 87,136 72,959 75,292 81,743
Total Debt		 0.00 0.00 0.00 1,703 1,719 1,621 27,713 26,209 31,166 35,194
Total Long-Term Debt		 0.00 0.00 0.00 1,703 1,719 1,621 21,782 20,034 22,934 29,592
Net Debt		 0.00 -24,230 -21,623 -18,053 -17,571 -10,991 17,642 10,004 17,573 21,313
Capital Expenditures (CapEx)		 1,871 1,563 1,723 427 462 1,659 1,911 561 3,648 3,723
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -4,055 -7,315 -9,872 -13,044 3,103 6,668 -3,127 -2,215 -2,651
Debt-free Net Working Capital (DFNWC)		 0.00 4,805 5,956 1,240 -3,386 15,510 14,185 10,266 9,244 8,784
Net Working Capital (NWC)		 0.00 4,805 5,956 1,240 -3,386 15,510 8,254 4,091 1,012 3,182
Net Nonoperating Expense (NNE)		 386 -534 -4,983 -4,473 224 -14,628 -258 -5,675 791 1,104
Net Nonoperating Obligations (NNO)		 0.00 -24,796 -24,238 -18,387 -19,476 -26,913 6,229 8,969 15,575 21,158
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -9.34% -15.87% -20.28% -26.14% 7.06% 15.34% -6.70% -4.28% -4.68%
Debt-free Net Working Capital to Revenue		 0.00% 11.07% 12.92% 2.55% -6.79% 35.27% 32.64% 22.00% 17.87% 15.50%
Net Working Capital to Revenue		 0.00% 11.07% 12.92% 2.55% -6.79% 35.27% 18.99% 8.77% 1.96% 5.61%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $4.78 $5.12 $3.55 $10.71 $0.00 $7.15 $5.92 $7.21
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 2.63B 2.27B 2.26B 2.23B 0.00 2.04B 1.98B 1.91B
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $4.72 $5.06 $3.52 $10.63 $0.00 $7.10 $5.87 $7.15
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 2.67B 2.27B 2.26B 2.23B 0.00 2.04B 1.98B 1.91B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 2.64B 2.27B 2.26B 2.23B 0.00 2.04B 1.98B 1.91B
Normalized Net Operating Profit after Tax (NOPAT)		 7,084 5,586 7,631 5,640 8,295 7,877 6,111 7,514 11,702 13,824
Normalized NOPAT Margin		 14.33% 12.87% 16.55% 11.59% 16.62% 17.91% 14.06% 16.10% 22.62% 24.39%
Pre Tax Income Margin		 15.81% 20.97% 30.58% 18.37% 19.80% 55.78% 16.51% 19.55% 26.37% 28.85%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 12.06 13.14 16.12 11.52 12.37 32.17 9.97 11.67 14.56 15.29
NOPAT to Interest Expense		 10.02 9.56 8.19 8.55 9.55 11.93 8.37 10.74 12.65 13.17
EBIT Less CapEx to Interest Expense		 9.41 11.05 14.27 11.02 11.84 30.06 7.58 11.01 10.93 12.04
NOPAT Less CapEx to Interest Expense		 7.37 7.48 6.34 8.04 9.01 9.82 5.98 10.08 9.03 9.92
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 121.99% 86.76% 55.22% 83.84% 0.00% 39.68% 144.95% 63.81% 81.95% 80.26%
Augmented Payout Ratio		 138.55% 158.03% 71.37% 130.98% 0.00% 52.41% 298.10% 122.51% 151.73% 146.22%

Quarterly Metrics And Ratios for Novartis

No quarterly metrics and ratios for Novartis are available.


Financials Breakdown Chart

Key Financial Trends

Here are the notable balance sheet trends for NOVARTIS AG (NVS) based on the last four years of quarterly statements (2022–2024).

  • Inventories, net declined from about $7.18B in 2022 to $5.72B in 2024, indicating improved inventory efficiency and faster turnover.
  • Other Current Assets rose to about $2.97B in 2024, signaling growth in other short-term assets alongside core operations.
  • Total Current Liabilities fell to about $26.39B in 2023 and remained there in 2024, improving near-term liquidity headroom.
  • Current Deferred & Payable Income Tax Liabilities decreased from roughly $2.53B (2022) to about $1.60B (2024), reducing near-term liabilities.
  • Cash & Equivalents fluctuated, peaking around $13.39B in 2023 and ending at about $11.46B in 2024, showing cash management variability but an overall higher cash level than 2022.
  • Goodwill declined from about $29.30B in 2022 to $24.76B in 2023–2024, which could reflect impairment write-downs or remeasurement effects rather than ongoing core business expansion.
  • Total Equity remained broadly flat at around $59.34B, with Total Common Equity near $46.67B across the period, suggesting balance-sheet stability despite other changes.
  • Total Assets contracted from about $117.45B in 2022 to $102.25B in 2023 and remained at that level in 2024, indicating a substantial reduction in asset base.
  • Short-Term Debt rose from about $5.93B in 2022 to $8.23B in 2023–2024, increasing near-term leverage and cash interest obligations.
  • Long-Term Debt increased from about $20.24B in 2022 to roughly $21.37B in 2023–2024, contributing to higher long-duration liabilities.
05/11/26 02:33 PM ETAI Generated. May Contain Errors.

Novartis Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Novartis' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Novartis' net income appears to be on an upward trend, with a most recent value of $13.97 billion in 2025, rising from $6.70 billion in 2016. The previous period was $11.94 billion in 2024. See where experts think Novartis is headed by visiting Novartis' forecast page.

Novartis' total operating income in 2025 was $17.64 billion, based on the following breakdown:
  • Total Gross Profit: $42.98 billion
  • Total Operating Expenses: $25.33 billion

Over the last 9 years, Novartis' total revenue changed from $49.44 billion in 2016 to $56.67 billion in 2025, a change of 14.6%.

Novartis' total liabilities were at $64.40 billion at the end of 2025, a 10.8% increase from 2024, and a 9.4% increase since 2017.

In the past 8 years, Novartis' cash and equivalents has ranged from $7.52 billion in 2022 to $13.39 billion in 2023, and is currently $11.44 billion as of their latest financial filing in 2025.

Over the last 9 years, Novartis' book value per share changed from 0.00 in 2016 to 23.36 in 2025, a change of 2,335.6%.


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Financial statements for NYSE:NVS last updated on 2/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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