Novartis AG Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	54,412	54,532	50,317	45,440	42,206	42,781
Other Revenue	2,166	2,142	1,405	1,220	1,255	1,193
Revenue	56,578	56,674	51,722	46,660	43,461	43,974
Revenue Growth (YoY)	6.31%	9.57%	10.85%	7.36%	-1.17%	-11.87%
Cost of Revenue	13,831	13,620	12,815	12,472	11,582	11,391
Gross Profit	42,747	43,054	38,907	34,188	31,879	32,583
Selling, General & Admin	13,317	13,238	12,564	12,517	12,193	12,756
Research & Development	11,106	10,687	9,511	11,371	9,172	8,259
Other Operating Expenses	-99	124	512	66	1,301	605
Operating Expenses	24,324	24,049	22,587	23,954	22,666	21,620
Operating Income	18,423	19,005	16,320	10,234	9,213	10,963
Interest Expense	-1,217	-1,144	-1,006	-855	-800	-787
Interest & Investment Income	373	373	568	627	377	70
Earnings From Equity Investments	-12	-12	-38	-13	-11	15,337
Currency Exchange Gain (Loss)	-300	-300	-258	-214	-184	-69
Other Non Operating Income (Expenses)	-117	-104	61	3	-14	-29
EBT Excluding Unusual Items	17,150	17,818	15,647	9,782	8,581	25,485
Merger & Restructuring Charges	-478	-478	-364	-465	-1,267	-827
Gain (Loss) on Sale of Investments	108	48	-45	-	-	38
Gain (Loss) on Sale of Assets	175	50	45	-	-	724
Asset Writedown	-586	-552	-1,428	-	-	-619
Legal Settlements	-161	-161	-89	-	-	-170
Other Unusual Items	-424	-373	-126	-194	-137	-101
Pretax Income	15,784	16,352	13,640	9,123	7,177	24,530
Income Tax Expense	2,270	2,385	1,701	551	1,128	1,625
Earnings From Continuing Operations	13,514	13,967	11,939	8,572	6,049	22,905
Earnings From Discontinued Operations	-	-	-	6,282	906	1,113
Net Income to Company	13,514	13,967	11,939	14,854	6,955	24,018
Minority Interest in Earnings	20	17	2	-4	-	3
Net Income	13,534	13,984	11,941	14,850	6,955	24,021
Net Income to Common	13,534	13,984	11,941	14,850	6,955	24,021
Net Income Growth	5.25%	17.11%	-19.59%	113.52%	-71.05%	197.58%
Shares Outstanding (Basic)	1,924	1,939	2,018	2,077	2,181	2,243
Shares Outstanding (Diluted)	1,939	1,955	2,035	2,092	2,197	2,260
Shares Change (YoY)	-3.79%	-3.93%	-2.73%	-4.78%	-2.79%	-1.57%
EPS (Basic)	7.03	7.21	5.92	7.15	3.19	10.71
EPS (Diluted)	6.98	7.15	5.87	7.10	3.17	10.63
EPS Growth	9.48%	21.81%	-17.36%	123.90%	-70.16%	202.06%
Free Cash Flow	17,535	17,596	16,253	13,398	13,320	14,005
Free Cash Flow Per Share	9.04	9.00	7.99	6.40	6.06	6.20
Dividend Per Share	4.666	4.666	3.862	3.919	3.461	3.401
Dividend Growth	20.81%	20.81%	-1.44%	13.24%	1.77%	0.29%
Gross Margin	75.55%	75.97%	75.22%	73.27%	73.35%	74.10%
Operating Margin	32.56%	33.53%	31.55%	21.93%	21.20%	24.93%
Profit Margin	23.92%	24.67%	23.09%	31.83%	16.00%	54.63%
Free Cash Flow Margin	30.99%	31.05%	31.42%	28.71%	30.65%	31.85%
EBITDA	22,922	23,473	20,662	18,158	13,940	15,633
EBITDA Margin	40.51%	41.42%	39.95%	38.92%	32.07%	35.55%
D&A For EBITDA	4,499	4,468	4,342	7,924	4,727	4,670
EBIT	18,423	19,005	16,320	10,234	9,213	10,963
EBIT Margin	32.56%	33.53%	31.55%	21.93%	21.20%	24.93%
Effective Tax Rate	14.38%	14.59%	12.47%	6.04%	15.72%	6.63%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.