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	Sep '26 Sep 30, 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	55,379	54,532	50,317	45,440	42,206	42,781
Other Revenue	1,985	2,142	1,405	1,220	1,255	1,193
Revenue	57,364	56,674	51,722	46,660	43,461	43,974
Revenue Growth	1.76%	9.57%	10.85%	7.36%	-1.17%	-11.87%
Cost of Revenue	14,221	13,620	12,815	12,472	11,582	11,391
Gross Profit	43,143	43,054	38,907	34,188	31,879	32,583
Selling, General & Admin	12,876	13,238	12,564	12,517	12,193	12,756
Research & Development	11,152	10,687	9,511	11,371	9,172	8,259
Other Operating Expenses	-379	124	512	66	1,301	605
Operating Expenses	23,649	24,049	22,587	23,954	22,666	21,620
Operating Income	19,494	19,005	16,320	10,234	9,213	10,963
Interest Expense	-1,577	-1,144	-1,006	-855	-800	-787
Interest & Investment Income	373	373	568	627	377	70
Earnings From Equity Investments	-10	-12	-38	-13	-11	15,337
Currency Exchange Gain (Loss)	-300	-300	-258	-214	-184	-69
Other Non Operating Income (Expenses)	-51	-104	61	3	-14	-29
EBT Excluding Unusual Items	17,929	17,818	15,647	9,782	8,581	25,485
Merger & Restructuring Charges	-484	-478	-364	-465	-1,267	-827
Gain (Loss) on Sale of Investments	64	48	-45	-	-	38
Gain (Loss) on Sale of Assets	125	50	45	-	-	724
Asset Writedown	-3,052	-552	-1,428	-	-	-619
Legal Settlements	-161	-161	-89	-	-	-170
Other Unusual Items	-1,778	-373	-126	-194	-137	-101
Pretax Income	12,643	16,352	13,640	9,123	7,177	24,530
Income Tax Expense	2,630	2,385	1,701	551	1,128	1,625
Earnings From Continuing Operations	10,013	13,967	11,939	8,572	6,049	22,905
Earnings From Discontinued Operations	-	-	-	6,282	906	1,113
Net Income to Company	10,013	13,967	11,939	14,854	6,955	24,018
Minority Interest in Earnings	18	17	2	-4	-	3
Net Income	10,031	13,984	11,941	14,850	6,955	24,021
Net Income to Common	10,031	13,984	11,941	14,850	6,955	24,021
Net Income Growth	-30.31%	17.11%	-19.59%	113.52%	-71.05%	197.58%
Shares Outstanding (Basic)	1,906	1,939	2,018	2,077	2,181	2,243
Shares Outstanding (Diluted)	1,918	1,955	2,035	2,092	2,197	2,260
Shares Change	-2.76%	-3.93%	-2.73%	-4.78%	-2.79%	-1.57%
EPS (Basic)	5.26	7.21	5.92	7.15	3.19	10.71
EPS (Diluted)	5.23	7.15	5.87	7.10	3.17	10.63
EPS Growth	-28.31%	21.81%	-17.36%	123.90%	-70.16%	202.06%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Free Cash Flow	15,657	17,596	16,253	13,398	13,320	14,005
Free Cash Flow Per Share	8.16	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	75.21%	75.97%	75.22%	73.27%	73.35%	74.10%
Operating Margin	33.98%	33.53%	31.55%	21.93%	21.20%	24.93%
Profit Margin	17.49%	24.67%	23.09%	31.83%	16.00%	54.63%
Free Cash Flow Margin	27.29%	31.05%	31.42%	28.71%	30.65%	31.85%
EBITDA	24,066	23,473	20,662	18,158	13,940	15,633
EBITDA Margin	41.95%	41.42%	39.95%	38.92%	32.07%	35.55%
D&A For EBITDA	4,572	4,468	4,342	7,924	4,727	4,670
EBIT	19,494	19,005	16,320	10,234	9,213	10,963
EBIT Margin	33.98%	33.53%	31.55%	21.93%	21.20%	24.93%
Effective Tax Rate	20.80%	14.59%	12.47%	6.04%	15.72%	6.63%