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Novartis AG ADR (NVS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · DRUG MANUFACTURERS - GENERAL · DATA UPDATED 2026-07-19

Novartis AG ADR (NVS) operates in the DRUG MANUFACTURERS - GENERAL industry and is headquartered in Basel, Switzerland with about 75,267 employees. Its market capitalization is roughly $295 billion. In the fiscal year ended 2025-12-31, NVS reported $54.8B in revenue and $14.1B in net income.

Novartis AG researches, develops, manufactures, distributes, markets, and sells pharmaceutical medicines in Switzerland and internationally.

Interactive charts & full statements → Open the NVS valuation workbench →

NVS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$56.1B	$54.8B	$51.7B	$46.7B	$43.5B	$44.0B	$49.9B	$48.7B	$46.1B	$43.4B	$49.4B	$50.4B	$53.6B	$52.7B	$52.0B	$59.4B	$51.6B	$45.1B	$42.6B	$38.9B	$35.1B
Gross Profit	$42.2B	$41.1B	$38.9B	$34.2B	$31.9B	$32.2B	$34.8B	$34.3B	$31.6B	$29.8B	$31.9B	$33.0B	$36.3B	$36.1B	$36.1B	$40.4B	$37.1B	$32.9B	$31.1B	$27.9B	$25.7B
Gross Margin %	75.3%	75.0%	75.2%	73.3%	73.4%	73.3%	69.7%	70.4%	68.5%	68.6%	64.6%	65.5%	67.7%	68.5%	69.5%	68.0%	71.9%	73.0%	73.1%	71.7%	73.2%
Operating Income (EBIT)	$17.1B	$17.1B	$14.5B	$9.8B	$7.9B	$10.1B	$10.2B	$9.1B	$8.4B	$8.7B	$8.3B	$9.0B	$11.1B	$11.0B	$11.5B	$10.8B	$11.5B	$10.0B	$9.0B	$6.8B	$7.6B
Operating Margin %	30.5%	31.1%	28.1%	20.9%	18.3%	22.9%	20.3%	18.7%	18.2%	20.1%	16.7%	17.8%	20.7%	20.8%	22.1%	18.2%	22.4%	22.1%	21.1%	17.4%	21.8%
Net Income	$13.5B	$14.1B	$11.9B	$14.8B	$7.0B	$24.0B	$8.1B	$11.7B	$12.6B	$7.7B	$6.7B	$17.8B	$10.2B	$9.2B	$9.3B	$8.9B	$9.8B	$8.4B	$8.2B	$11.9B	$7.2B
Net Margin %	24.1%	25.6%	23.1%	31.8%	16.0%	54.6%	16.2%	24.1%	27.4%	17.8%	13.6%	35.3%	19.0%	17.4%	17.8%	15.1%	19.0%	18.6%	19.2%	30.7%	20.4%
EBITDA	$22.4B	$23.0B	$20.7B	$18.3B	$14.7B	$30.9B	$17.2B	$15.6B	$20.2B	$14.6B	$14.6B	$14.3B	$17.7B	$15.9B	$16.4B	$17.1B	$15.8B	$12.8B	$12.5B	$10.6B	$10.2B
Earnings Per Share (EPS)	$6.98	$7.19	$5.87	$7.10	$3.17	$10.63	$3.52	$5.06	$5.38	$3.25	$2.80	$7.29	$4.13	$3.70	$3.79	$3.70	$4.26	$3.69	$3.59	$5.13	$3.04
Shares Outstanding (M)	1,916M	1,955M	2,035M	2,092M	2,197M	2,260M	2,296M	2,319M	2,344M	2,371M	2,400M	2,438M	2,470M	2,479M	2,445M	2,413M	2,301M	2,277M	2,284M	2,329M	2,360M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NVS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$13.5B	$13.3B	$14.4B	$14.8B	$13.6B	$13.6B	$13.2B	$12.9B
Gross Profit	$10.1B	$9.8B	$10.8B	$11.5B	$10.4B	$10.2B	$9.9B	$9.7B
Gross Margin %	74.4%	73.4%	75.3%	77.6%	76.3%	75.5%	75.4%	75.3%
Operating Income (EBIT)	$4.2B	$3.5B	$4.5B	$4.9B	$4.7B	$3.5B	$3.6B	$4.0B
Operating Margin %	31.3%	26.4%	31.4%	32.8%	34.2%	26.0%	27.5%	31.2%
Net Income	$3.2B	$2.4B	$3.9B	$4.0B	$3.6B	$2.8B	$3.2B	$3.2B
Net Margin %	23.3%	18.1%	27.4%	27.2%	26.5%	20.8%	24.2%	25.2%
EBITDA	$5.4B	$5.1B	$5.8B	$6.1B	$5.8B	$5.2B	$5.6B	$5.2B
Earnings Per Share (EPS)	$1.65	$1.25	$2.02	$2.06	$1.82	$1.41	$1.57	$1.59
Shares Outstanding (M)	1,916M	1,929M	1,940M	1,960M	1,979M	2,004M	2,027M	2,046M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NVS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$19.2B	$19.2B	$17.6B	$14.5B	$14.2B	$15.1B	$13.7B	$13.6B	$14.3B	$12.6B	$11.5B	$11.9B	$13.9B	$13.2B	$14.2B	$14.3B	$14.1B	$12.2B	$9.8B	$9.2B	$8.7B
Capital Expenditures (CapEx)	$2.8B	$1.6B	$3.8B	$2.8B	$2.7B	$3.0B	$2.6B	$2.3B	$3.4B	$2.7B	$2.9B	$3.9B	$3.7B	$3.8B	$3.3B	$2.4B	$2.2B	$2.7B	$2.3B	$3.1B	$2.3B
Free Cash Flow (FCF)	$16.4B	$17.7B	$13.8B	$11.7B	$11.6B	$12.1B	$11.1B	$11.4B	$10.9B	$9.9B	$8.6B	$8.0B	$10.2B	$9.4B	$10.9B	$11.9B	$11.8B	$9.5B	$7.5B	$6.1B	$6.4B
FCF Margin %	29.2%	32.3%	26.7%	25.1%	26.6%	27.5%	22.2%	23.4%	23.7%	22.8%	17.4%	16.0%	19.0%	17.8%	20.9%	20.1%	22.9%	21.0%	17.5%	15.6%	18.2%
Dividends Paid	$8.7B	$7.9B	$7.6B	$7.3B	$7.5B	$7.4B	$7.0B	$6.6B	$7.0B	$6.5B	$6.5B	$6.6B	$6.8B	$6.1B	$6.0B	$5.4B	$4.5B	$3.9B	$3.3B	$2.6B	$2.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NVS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$3.7B	$2.3B	$6.6B	$6.7B	$3.6B	$4.2B	$6.3B	$4.9B
Capital Expenditures (CapEx)	$807M	$611M	$831M	$558M	$1.5B	$1.1B	$799M	$728M
Free Cash Flow (FCF)	$2.9B	$1.6B	$5.7B	$6.1B	$2.2B	$3.1B	$5.5B	$4.1B
FCF Margin %	21.2%	12.3%	40.0%	41.2%	15.8%	22.6%	41.7%	32.2%
Dividends Paid	$6.2B	$10M	$30M	$2.5B	$5.3B	$7.6B	—	$2.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NVS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$118.5B	$115.6B	$102.2B	$99.9B	$117.5B	$131.8B	$132.2B	$118.4B	$145.6B	$133.1B	$130.1B	$131.6B	$125.4B	$126.3B	$124.2B	$117.5B	$123.3B	$95.5B	$78.3B	$75.5B	$68.0B
Cash & Cash Equivalents	$6.9B	$11.4B	$11.5B	$13.4B	$7.5B	$12.4B	$9.7B	$11.1B	$13.3B	$8.9B	$7.0B	$4.7B	$13.0B	$6.7B	$5.6B	$3.7B	$5.3B	$2.9B	$2.0B	$5.4B	$3.8B
Total Liabilities	$79.6B	$69.0B	$58.1B	$53.2B	$58.0B	$64.0B	$75.5B	$62.9B	$66.9B	$58.9B	$55.2B	$54.4B	$54.5B	$51.8B	$55.0B	$51.6B	$53.5B	$38.0B	$27.9B	$26.1B	$26.7B
Total Debt (Short + Long-Term)	$45.3B	$33.7B	$29.7B	$24.8B	$26.4B	$29.4B	$36.1B	$27.4B	$32.1B	$28.4B	$26.0B	$24.2B	$20.4B	$17.9B	$19.7B	$20.2B	$22.9B	$13.9B	$7.0B	$5.6B	$7.2B
Total Shareholders' Equity	$38.5B	$46.1B	$44.0B	$46.7B	$59.3B	$67.7B	$56.6B	$55.5B	$78.6B	$74.2B	$74.8B	$77.0B	$70.8B	$74.3B	$69.1B	$65.8B	$63.2B	$57.4B	$50.3B	$49.2B	$41.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NVS viewer.

Other Companies in DRUG MANUFACTURERS - GENERAL

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