Novartis AG (NVS)

Novartis AG Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
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	13,931	13,699	12,827	12,472	11,582	11,735
Gross Profit	42,647	42,975	38,895	34,188	31,879	32,239
Selling, General & Admin	13,330	13,248	12,566	12,517	12,193	12,827
Research & Development	11,574	11,200	10,022	11,371	9,172	8,641
Other Operating Expenses	527	883	1,763	531	2,568	715
Total Operating Expenses	25,431	25,331	24,351	24,419	23,933	22,183
Operating Income	17,216	17,644	14,544	9,769	7,946	10,056
Interest Income	-12	-12	-38	-13	-11	15,337
Interest Expense	-1,217	-1,144	-1,006	-855	-800	-787
Other Non-Operating Income (Expense)	-203	-136	140	222	42	-76
Total Non-Operating Income (Expense)	-1,432	-1,292	-904	-646	-769	14,474
Pretax Income	15,784	16,352	13,640	9,123	7,177	24,530
Provision for Income Taxes	2,270	2,385	1,701	551	1,128	1,625
Net Income	13,534	13,984	11,941	14,850	6,955	24,021
Minority Interest in Earnings	-20	-17	-2	4	0	-3
Earnings From Discontinued Operations	-	-	-	6,282	906	1,113
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)	1,936	1,955	2,035	2,092	2,197	2,260
Shares Change (YoY)	-3.86%	-3.93%	-2.73%	-4.78%	-2.79%	-1.57%
EPS (Basic)	7.02	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	9.23%	21.81%	-17.32%	123.97%	-70.18%	201.99%
Shares Outstanding	1,908	1,908	1,975	2,044	2,120	2,235
Free Cash Flow	17,535	17,596	16,253	13,398	13,320	14,005
Free Cash Flow Growth	-0.35%	8.26%	21.31%	0.59%	-4.89%	13.17%
Free Cash Flow Per Share	9.06	9.00	7.99	6.40	6.06	6.20
Dividends Per Share	4.666	4.666	3.862	3.919	3.461	3.401
Dividend Growth	-	20.81%	-1.44%	13.24%	1.77%	0.29%
Gross Margin	75.38%	75.83%	75.20%	73.27%	73.35%	73.31%
Operating Margin	30.43%	31.13%	28.12%	20.94%	18.28%	22.87%
Profit Margin	23.89%	24.64%	23.08%	18.37%	13.92%	52.09%
FCF Margin	30.99%	31.05%	31.42%	28.71%	30.65%	31.85%
EBITDA	22,504	17,644	20,658	18,152	14,911	15,615
EBITDA Margin	39.78%	31.13%	39.94%	38.90%	34.31%	35.51%
EBIT	17,216	17,644	14,544	9,769	7,946	10,056
EBIT Margin	30.43%	31.13%	28.12%	20.94%	18.28%	22.87%
Effective Tax Rate	14.38%	14.59%	12.47%	6.04%	15.72%	6.62%

Updated Apr 27, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q