Novartis AG Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	56,674	51,722	46,660	43,461	43,974
Revenue Growth (YoY)	9.57%	10.85%	7.36%	-1.17%	-11.87%
Cost of Revenue	13,699	12,827	12,472	11,582	11,735
Gross Profit	42,975	38,895	34,188	31,879	32,239
Selling, General & Admin	13,248	12,566	12,517	12,193	12,827
Research & Development	11,200	10,022	11,371	9,172	8,641
Other Operating Expenses	883	1,763	531	2,568	715
Operating Income	17,644	14,544	9,769	7,946	10,056
Interest Income	-12	-38	-13	-11	15,337
Interest Expense	-1,144	-1,006	-855	-800	-787
Other Non-Operating Income (Expense)	-136	140	222	42	-76
Total Non-Operating Income (Expense)	-1,292	-904	-646	-769	14,474
Pretax Income	16,352	13,640	9,123	7,177	24,530
Provision for Income Taxes	2,385	1,701	551	1,128	1,625
Net Income	13,984	11,941	14,850	6,955	24,021
Minority Interest in Earnings	-17	-2	4	0	-3
Earnings From Discontinued Operations	-	-	12,564	1,812	2,226
Net Income to Common	13,984	11,941	14,850	6,955	24,021
Net Income Growth	17.11%	-19.59%	113.52%	-71.05%	197.58%
Shares Outstanding (Basic)	1,939	2,018	2,077	2,181	2,243
Shares Outstanding (Diluted)	1,955	2,035	2,092	2,197	2,260
Shares Change (YoY)	-3.93%	-2.73%	-4.78%	-2.79%	-1.57%
EPS (Basic)	7.21	5.92	7.15	2.77	10.22
EPS (Diluted)	7.15	5.87	7.10	2.76	10.14
EPS Growth	21.81%	-17.32%	157.25%	-72.78%	188.07%
Free Cash Flow	19,144	8,494	14,458	13,320	14,005
Free Cash Flow Growth	125.38%	-41.25%	8.54%	-4.89%	13.17%
Free Cash Flow Per Share	9.79	4.17	6.91	6.06	6.20
Dividends Per Share	4.666	3.862	3.919	3.461	3.401
Dividend Growth	20.81%	-1.44%	13.24%	1.77%	0.29%
Gross Margin	75.83%	75.20%	73.27%	73.35%	73.31%
Operating Margin	31.13%	28.12%	20.94%	18.28%	22.87%
Profit Margin	24.64%	23.08%	18.37%	13.92%	52.09%
FCF Margin	33.78%	16.42%	30.99%	30.65%	31.85%
EBITDA	17,644	14,544	9,769	7,946	10,056
EBIT	17,644	14,544	9,769	7,946	10,056
EBIT Margin	31.13%	28.12%	20.94%	18.28%	22.87%
Effective Tax Rate	14.59%	12.47%	6.04%	15.72%	6.62%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.