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
Operating Revenue	54,532	50,317	45,440	42,206	42,781
Other Revenue	2,142	1,405	1,220	1,255	1,193
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	12,815	12,020	11,582	11,391
Gross Profit	42,975	38,907	34,640	31,879	32,583
Selling, General & Admin	13,248	12,564	12,489	12,193	12,756
Research & Development	11,200	9,511	9,011	9,172	8,259
Other Operating Expenses	883	512	498	1,301	605
Operating Expenses	25,331	22,587	21,998	22,666	21,620
Operating Income	17,644	16,320	12,642	9,213	10,963
Interest Expense	-1,144	-1,006	-855	-800	-787
Interest & Investment Income	-	568	627	377	70
Earnings From Equity Investments	-12	-38	-13	-11	15,337
Currency Exchange Gain (Loss)	-	-258	-214	-184	-69
Other Non Operating Income (Expenses)	-136	61	3	-14	-29
EBT Excluding Unusual Items	16,352	15,647	12,190	8,581	25,485
Merger & Restructuring Charges	-	-364	-951	-1,267	-827
Gain (Loss) on Sale of Investments	-	-45	-105	-	38
Gain (Loss) on Sale of Assets	-	45	225	-	724
Asset Writedown	-	-1,428	-3,088	-	-619
Legal Settlements	-	-89	542	-	-170
Other Unusual Items	-	-126	310	-137	-101
Pretax Income	16,352	13,640	9,123	7,177	24,530
Income Tax Expense	2,385	1,701	551	1,128	1,625
Earnings From Continuing Operations	13,967	11,939	8,572	6,049	22,905
Earnings From Discontinued Operations	-	-	6,282	906	1,113
Net Income to Company	13,967	11,939	14,854	6,955	24,018
Minority Interest in Earnings	17	2	-4	-	3
Net Income	13,984	11,941	14,850	6,955	24,021
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)	1,940	2,018	2,077	2,181	2,243
Shares Outstanding (Diluted)	1,956	2,035	2,092	2,197	2,260
Shares Change (YoY)	-3.89%	-2.73%	-4.78%	-2.79%	-1.57%
EPS (Basic)	7.21	5.92	7.15	3.19	10.71
EPS (Diluted)	7.15	5.87	7.10	3.17	10.63
EPS Growth	21.81%	-17.36%	123.90%	-70.16%	202.06%
Free Cash Flow	17,596	16,253	13,398	13,320	14,005
Free Cash Flow Per Share	9.00	7.99	6.40	6.06	6.20
Dividend Per Share	-	3.862	3.919	3.461	3.401
Dividend Growth	-	-1.44%	13.24%	1.77%	0.29%
Gross Margin	75.83%	75.22%	74.24%	73.35%	74.10%
Operating Margin	31.13%	31.55%	27.09%	21.20%	24.93%
Profit Margin	24.67%	23.09%	31.83%	16.00%	54.63%
Free Cash Flow Margin	31.05%	31.42%	28.71%	30.65%	31.85%
EBITDA	22,133	20,662	17,518	13,940	15,633
EBITDA Margin	39.05%	39.95%	37.54%	32.07%	35.55%
D&A For EBITDA	4,489	4,342	4,876	4,727	4,670
EBIT	17,644	16,320	12,642	9,213	10,963
EBIT Margin	31.13%	31.55%	27.09%	21.20%	24.93%
Effective Tax Rate	14.59%	12.47%	6.04%	15.72%	6.63%

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