Novartis AG (NVSEF)

Novartis AG Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	54,349	50,317	45,440	42,206	42,781	48,659
Other Revenue	2,023	1,405	1,220	1,255	1,193	1,239
Revenue	56,372	51,722	46,660	43,461	43,974	49,898
Revenue Growth (YoY)	12.88%	10.85%	7.36%	-1.17%	-11.87%	2.51%
Cost of Revenue	13,390	12,815	12,020	11,582	11,391	15,121
Gross Profit	42,982	38,907	34,640	31,879	32,583	34,777
Selling, General & Admin	13,301	12,564	12,489	12,193	12,756	14,197
Research & Development	10,181	9,511	9,011	9,172	8,259	8,980
Other Operating Expenses	-956	512	498	1,301	605	1,448
Operating Expenses	22,526	22,587	21,998	22,666	21,620	24,625
Operating Income	20,456	16,320	12,642	9,213	10,963	10,152
Interest Expense	-1,115	-1,006	-855	-800	-787	-869
Interest & Investment Income	568	568	627	377	70	91
Earnings From Equity Investments	-13	-38	-13	-11	15,337	673
Currency Exchange Gain (Loss)	-258	-258	-214	-184	-69	-135
Other Non Operating Income (Expenses)	-20	61	3	-14	-29	-34
EBT Excluding Unusual Items	19,618	15,647	12,190	8,581	25,485	9,878
Merger & Restructuring Charges	-364	-364	-951	-1,267	-827	-
Gain (Loss) on Sale of Investments	-12	-45	-105	-	38	-
Gain (Loss) on Sale of Assets	95	45	225	-	724	-
Asset Writedown	-1,616	-1,428	-3,088	-	-619	-
Legal Settlements	-531	-89	542	-	-170	-
Other Unusual Items	-771	-126	310	-137	-101	-
Pretax Income	16,419	13,640	9,123	7,177	24,530	9,878
Income Tax Expense	2,036	1,701	551	1,128	1,625	1,807
Earnings From Continuing Operations	14,383	11,939	8,572	6,049	22,905	8,071
Earnings From Discontinued Operations	-	-	6,282	906	1,113	-
Net Income to Company	14,383	11,939	14,854	6,955	24,018	8,071
Minority Interest in Earnings	10	2	-4	-	3	1
Net Income	14,393	11,941	14,850	6,955	24,021	8,072
Net Income to Common	14,393	11,941	14,850	6,955	24,021	8,072
Net Income Growth	-18.24%	-19.59%	113.52%	-71.05%	197.58%	-31.20%
Shares Outstanding (Basic)	1,957	2,018	2,077	2,181	2,243	2,277
Shares Outstanding (Diluted)	1,973	2,035	2,092	2,197	2,260	2,296
Shares Change (YoY)	-3.84%	-2.73%	-4.78%	-2.79%	-1.57%	-0.99%
EPS (Basic)	7.36	5.92	7.15	3.19	10.71	3.54
EPS (Diluted)	7.30	5.87	7.10	3.17	10.63	3.52
EPS Growth	-14.91%	-17.36%	123.90%	-70.16%	202.06%	-30.43%
Free Cash Flow	19,576	16,253	13,398	13,320	14,005	12,375
Free Cash Flow Per Share	9.92	7.99	6.40	6.06	6.20	5.39
Dividend Per Share	3.862	3.862	3.919	3.461	3.401	3.391
Dividend Growth	-1.44%	-1.44%	13.24%	1.77%	0.29%	8.68%
Gross Margin	76.25%	75.22%	74.24%	73.35%	74.10%	69.70%
Operating Margin	36.29%	31.55%	27.09%	21.20%	24.93%	20.35%
Profit Margin	25.53%	23.09%	31.83%	16.00%	54.63%	16.18%
Free Cash Flow Margin	34.73%	31.42%	28.71%	30.65%	31.85%	24.80%
EBITDA	24,120	20,662	17,518	13,940	15,633	14,932
EBITDA Margin	42.79%	39.95%	37.54%	32.07%	35.55%	29.93%
D&A For EBITDA	3,664	4,342	4,876	4,727	4,670	4,780
EBIT	20,456	16,320	12,642	9,213	10,963	10,152
EBIT Margin	36.29%	31.55%	27.09%	21.20%	24.93%	20.35%
Effective Tax Rate	12.40%	12.47%	6.04%	15.72%	6.63%	18.29%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.