Novartis AG Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	11,435	9,556	6,656	7,066	11,459	13,609	7,903	9,469	13,393	12,405	10,885	12,000	7,517	8,726	3,625	13,852	12,407	7,211	5,117	3,801
Short-Term Investments	155	197	344	130	1,998	411	532	225	1,035	290	289	260	11,413	10,377	16,133	4,962	15,922	951	239	276
Cash & Short-Term Investments	11,590	9,753	7,000	7,196	13,457	14,020	8,435	9,694	14,428	12,695	11,174	12,260	18,930	19,103	19,758	18,814	28,329	8,162	5,356	4,077
Cash Growth	-13.87%	-30.44%	-17.01%	-25.77%	-6.73%	10.44%	-24.51%	-20.93%	-23.78%	-33.54%	-43.45%	-34.84%	-33.18%	134.05%	268.90%	361.47%	145.00%	-24.91%	-14.89%	-18.02%
Accounts Receivable	8,937	8,844	9,056	8,596	7,423	7,966	8,228	7,840	7,107	6,819	9,195	8,916	8,066	8,422	8,643	8,409	8,005	8,377	8,400	8,265
Other Receivables	205	140	120	129	133	184	252	411	426	280	348	267	268	258	267	269	278	255	254	216
Total Trade Receivables	9,142	8,984	9,176	8,725	7,556	8,150	8,480	8,251	7,533	7,099	9,543	9,183	8,334	8,680	8,910	8,678	8,283	8,632	8,654	8,481
Inventory	6,269	6,421	6,307	5,829	5,723	5,939	5,747	5,743	5,913	5,610	8,228	7,886	7,175	6,779	6,880	6,997	6,666	6,885	7,111	6,997
Other Current Assets	3,459	3,040	3,456	3,358	2,968	3,155	3,031	2,759	2,607	20,256	4,548	2,785	2,471	2,392	2,594	2,747	2,440	2,574	2,687	2,643
Total Current Assets	30,460	28,198	25,939	25,108	29,704	31,264	25,693	26,447	30,481	45,660	31,773	32,114	36,910	36,954	38,142	37,236	45,718	26,253	23,808	22,198
Net Property, Plant & Equipment	12,352	11,991	11,826	11,087	10,873	11,201	10,622	10,542	10,924	10,344	12,277	12,348	12,195	11,731	12,206	12,861	13,106	13,157	13,344	13,204
Other Intangible Assets	29,411	29,037	29,240	27,476	26,915	27,902	27,775	26,272	26,879	26,418	28,003	30,451	31,644	31,888	33,367	34,853	34,182	33,951	34,818	35,377
Goodwill	25,567	25,551	25,553	24,965	24,756	24,930	25,234	23,063	23,341	23,416	29,522	29,481	29,301	28,668	29,113	29,636	29,595	29,572	29,766	29,590
Long-Term Investments	2,446	2,153	2,161	2,095	2,134	2,192	2,126	2,582	2,812	2,122	2,433	2,555	2,554	2,491	2,580	2,906	3,241	12,347	12,014	11,628
Other Long-Term Assets	10,713	10,359	9,676	9,210	7,864	6,035	6,055	5,428	5,508	4,737	5,251	5,292	4,849	6,732	7,502	7,726	5,953	5,929	10,265	9,755
Total Assets	110,949	107,289	104,395	99,941	102,246	103,524	97,505	94,334	99,945	112,697	110,979	112,241	117,453	118,464	122,910	125,218	131,795	121,209	124,015	121,752
Accounts Payable	4,456	4,555	4,506	4,261	4,572	4,087	4,146	4,062	4,926	3,870	5,350	5,426	5,146	4,693	4,969	5,083	5,553	4,665	4,811	5,040
Accrued Expenses	14,988	16,319	15,809	16,745	14,054	15,067	13,783	15,012	13,166	13,974	15,338	14,938	14,795	13,475	12,929	15,178	15,670	13,138	13,097	12,442
Current Portion of Long-Term Debt	5,602	7,520	8,314	7,801	8,232	6,566	7,532	8,339	6,175	5,458	8,289	6,968	5,931	7,055	7,045	6,696	6,295	9,337	9,075	10,165
Current Portion of Leases	263	264	259	242	235	247	232	225	230	210	247	251	251	248	258	272	275	277	279	279
Other Current Liabilities	1,969	3,342	2,826	2,570	1,599	2,165	1,919	1,650	1,893	24,881	2,685	2,966	2,533	2,689	2,445	2,578	2,415	2,463	2,371	2,234
Total Current Liabilities	27,278	32,000	31,714	31,619	28,692	28,132	27,612	29,288	26,390	48,393	31,875	30,549	28,656	28,160	27,646	29,807	30,208	29,880	29,633	30,160
Long-Term Debt	27,935	22,598	22,470	21,666	21,366	23,750	19,663	17,191	18,436	18,068	18,259	20,396	20,244	19,732	22,232	22,796	22,902	23,101	24,828	25,747
Long-Term Leases	1,657	1,640	1,594	1,561	1,568	1,596	1,560	1,529	1,598	1,453	1,545	1,589	1,538	1,503	1,552	1,577	1,621	1,614	1,663	1,652
Other Long-Term Liabilities	7,530	6,299	6,563	6,643	6,494	6,605	6,768	6,570	6,771	6,538	7,335	7,565	7,592	8,171	8,474	9,334	9,242	9,677	13,763	13,604
Total Long-Term Liabilities	37,122	30,537	30,627	29,870	29,428	31,951	27,991	25,290	26,805	26,059	27,139	29,550	29,374	29,406	32,258	33,707	33,765	34,392	40,254	41,003
Total Liabilities	64,400	62,537	62,341	61,489	58,120	60,083	55,603	54,578	53,195	74,452	59,048	60,099	58,030	57,566	59,904	63,514	63,973	64,272	69,887	71,163
Common Stock	766	766	766	766	793	793	793	793	825	825	842	842	890	890	890	901	901	901	913	913
Treasury Stock	-50	-44	-33	-19	-53	-40	-25	-17	-41	-32	-52	-36	-92	-70	-60	-60	-48	-47	-65	-60
Retained Earnings	45,414	43,608	41,252	37,622	43,306	42,564	40,965	38,899	45,883	37,371	51,057	51,253	58,544	60,000	62,095	60,699	66,802	55,917	53,194	49,670
Total Common Shareholders' Equity	46,130	44,330	41,985	38,369	44,046	43,317	41,733	39,675	46,667	38,164	51,847	52,059	59,342	60,820	62,925	61,540	67,655	56,771	54,042	50,523
Minority Interest	419	422	69	83	80	124	169	81	83	81	84	83	81	78	81	164	167	166	86	66
Shareholders' Equity	46,549	44,752	42,054	38,452	44,126	43,441	41,902	39,756	46,750	38,245	51,931	52,142	59,423	60,898	63,006	61,704	67,822	56,937	54,128	50,589
Total Liabilities & Equity	110,949	107,289	104,395	99,941	102,246	103,524	97,505	94,334	99,945	112,697	110,979	112,241	117,453	118,464	122,910	125,218	131,795	121,209	124,015	121,752
Total Debt	35,457	32,022	32,637	31,270	31,401	32,159	28,987	27,284	26,439	25,189	28,340	29,204	27,964	28,538	31,087	31,341	31,093	34,329	35,845	37,843
Net Cash (Debt)	-23,867	-22,269	-25,637	-24,074	-17,944	-18,139	-20,552	-17,590	-12,011	-12,494	-17,166	-16,944	-9,034	-9,435	-11,329	-12,527	-2,764	-26,167	-30,489	-33,766
Net Cash Per Share	-12.37	-11.48	-13.08	-12.16	-8.95	-8.95	-10.04	-8.55	-5.82	-6.02	-8.19	-7.99	-4.20	-4.33	-5.12	-5.60	-1.23	-11.61	-13.50	-14.91
Book Value	46,130	44,330	41,985	38,369	44,046	43,317	41,733	39,675	46,667	38,164	51,847	52,059	59,342	60,820	62,925	61,540	67,655	56,771	54,042	50,523
Book Value Per Share	23.91	22.85	21.42	19.39	21.98	21.37	20.40	19.30	22.60	18.39	24.75	24.56	27.60	27.90	28.46	27.51	30.03	25.19	23.93	22.31
Tangible Book Value	-8,848	-10,258	-12,808	-14,072	-7,625	-9,515	-11,276	-9,660	-3,553	-11,670	-5,678	-7,873	-1,603	264	445	-2,949	3,878	-6,752	-10,542	-14,444
Tangible Book Value Per Share	-4.59	-5.29	-6.53	-7.11	-3.80	-4.69	-5.51	-4.70	-1.72	-5.62	-2.71	-3.71	-0.75	0.12	0.20	-1.32	1.72	-3.00	-4.67	-6.38

Updated Feb 4, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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