Swiss multinational pharmaceutical corporation developing innovative medicines for eye diseases, heart failure, immunology, and oncology.MoreShow less
Profile & Fundamentals
Novartis (NOVN.SIX) Profile & Fundamentals
Review Novartis reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Novartis: Company Profile & Ownership
Novartis AG researches, develops, manufactures, distributes, markets, and sells pharmaceutical medicines in Switzerland and internationally. The company offers Entresto, an angiotensin receptorneprilysin inhibitor to treat symptomatic chronic heart failure; Cosentyx to treat plaque psoriasis, pso riatic arthritis, ankylosing spondylitis, and nonradiographic axial spondy loarthritis; Kisqali, a selective oral cyclin dependent inhibitor of kinases 4 and 6; Promacta/Revolade for immune thrombocytopenia (ITP), thrombocytopenia, and aplastic anemia patients; Tafinlar+Mekinist, an oral combination therapy to treat cancer patients; and Jakavi for treating myelofibrosis, polycythemia vera, and acute or chronic graftversushost disease. It also provides Tasigna to treat philadelphia chromosomepositive chronic myeloid leukemia in chronic and/or accelerated phase; Xolair for treating allergic asthma and nasal polyps or severe chronic rhinosi nusitis with nasal polyps; Ilaris to treat fever syndromes, Stills disease, and acute gouty arthritis; Pluvicto to treat prostatespecific membrane anti genpositive metastatic castrationresistant prostate cancer; Sandostatin SC and Sandostatin LAR to treat acromegaly carcinoid tumors and functional gastro intestinal and pancreatic neuroendocrine tumors; Zolgensma to treat genetic root cause of spinal muscular atrophy; Lucentis; Leqvio to reduce LDL cholesterol; Lutathera; Scemblix; and Fabhalta. The company focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, oncology, and hematology. It has a license and collaboration agreement with Alnylam Pharmaceuticals, Inc. to develop, manufacture, and commercialize Leqvio (inclisiran) to reduce LDL cholesterol. Novartis AG has a strategic alliance with CAS for enhancing reaction data accessibility and supporting AI-enabled research. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.
Company profile record
Novartis AG
Common Stock · Health Care · Pharmaceuticals
Company
- Company / asset
- Novartis AG
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Pharmaceuticals
- HQ
- 🇨🇭 Switzerland
- Head office
- Lichtstrasse 35, Basel, Switzerland, 4056
Leadership & scale
- Chief executive
- Dr. Vasant Narasimhan M.D.
- CEO year born
- 1976
- Full-time employees
- 75.3K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- CHF 256.2B
- P/E
- 30.9x
- Revenue (Q3 26)
- USD 14.5B
- Profit (Q3 26)
- USD 1.2B
- Dividend Yield
- 1.8%
- Revenue (FY 25)
- USD 57.1B
- Shares in public float
- 1.8B
- Insider ownership
- 2.11%
Reporting & identifiers
- Symbol
- NOVN.SIX
- Listing
- 🇨🇭 Switzerland | Dividend Tax: 35%
- Ticker Currency
- CHF
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- CH0012005267
- Asset ID
- equity_605870fb-31f5-56e1-bb3f-ff917ad68710
Novartis: Ownership
Shares Outstanding
Latest: 1.9B | Max: 2.3B | Min: 1.9B
Latest reported ownership snapshot
Float Shares
96.81%
1.8B latest reported shares
Insider Ownership
2.11%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 2,348,000,000 |
| 2018-01-01 | 2,341,000,000 |
| 2019-01-01 | 2,292,000,000 |
| 2020-01-01 | 2,282,000,000 |
| 2021-01-01 | 2,253,000,000 |
| 2022-01-01 | 2,150,000,000 |
| 2023-01-01 | 2,065,000,000 |
| 2024-01-01 | 2,004,000,000 |
| 2025-01-01 | 1,929,000,000 |
| 2026-01-01 | 1,905,000,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Novartis: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: CHF→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: CHF→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Novartis delivered solid performance in fiscal 2025, generating 54.5 to 57.1 billion dollars in revenue and roughly 14.7 billion dollars in net income. This strength was driven by strong demand for core cancer and immunology drugs before the generic patent cliff arrived. Recent 2026 quarterly results showed that generic competition cut heart-failure drug sales in half, but surging sales from replacement therapies kept total revenue expanding modestly. This trend demonstrates that the business is navigating an earnings transition rather than entering permanent decay. With free cash flow reaching nearly 16 billion dollars, the underlying cash conversion remains healthy, providing the resources needed to cushion patent expirations.
Novartis delivered solid performance in fiscal 2025, generating 54.5 to 57.1 billion dollars in revenue and roughly 14.7 billion dollars in net income. This strength was driven by strong demand for core cancer and immunology drugs before the generic patent cliff arrived. Recent 2026 quarterly results showed that generic competition cut heart-failure drug sales in half, but surging sales from replacement therapies kept total revenue expanding modestly. This trend demonstrates that the business is navigating an earnings transition rather than entering permanent decay. With free cash flow reaching nearly 16 billion dollars, the underlying cash conversion remains healthy, providing the resources needed to cushion patent expirations.
Revenue, Net Income, and Free Cash Flow
Latest: USD 57.1B | Max: USD 57.1B | Min: USD 6.7B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 18x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has improved structurally over recent years, with gross profit margins holding steady near 75 percent and core operating margins hovering around 40 percent. Divesting lower-margin generic operations permanently elevated corporate profitability by focusing resources on high-value specialty medicines that command strong pricing power. Although near-term margins face minor pressure as low-cost generics erode mature cardiovascular pills, volume growth in complex biologic treatments provides a solid floor. As new manufacturing facilities achieve scale, operating leverage should keep long-term operating profitability well above historical levels.
Profitability has improved structurally over recent years, with gross profit margins holding steady near 75 percent and core operating margins hovering around 40 percent. Divesting lower-margin generic operations permanently elevated corporate profitability by focusing resources on high-value specialty medicines that command strong pricing power. Although near-term margins face minor pressure as low-cost generics erode mature cardiovascular pills, volume growth in complex biologic treatments provides a solid floor. As new manufacturing facilities achieve scale, operating leverage should keep long-term operating profitability well above historical levels.
Profitability Margins
Latest: 75.0% | Max: 75.2% | Min: 13.6%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
75.0%
Gross profit / revenue
Operating Margin
31.2%
Operating income / revenue
Net Margin
25.6%
Net income / revenue
FCF Margin
32.3%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 49,436,000,000 | 6,712,000,000 | 8,596,000,000 |
| 2017-12-31 | 43,404,000,000 | 7,703,000,000 | 9,875,000,000 |
| 2018-12-31 | 46,099,000,000 | 12,611,000,000 | 10,917,000,000 |
| 2019-12-31 | 48,677,000,000 | 11,732,000,000 | 11,368,000,000 |
| 2020-12-31 | 49,898,000,000 | 8,072,000,000 | 11,065,000,000 |
| 2021-12-31 | 43,974,000,000 | 24,021,000,000 | 12,100,000,000 |
| 2022-12-31 | 43,461,000,000 | 6,955,000,000 | 11,565,000,000 |
| 2023-12-31 | 46,660,000,000 | 14,850,000,000 | 11,705,000,000 |
| 2024-12-31 | 51,722,000,000 | 11,941,000,000 | 13,805,000,000 |
| 2025-12-31 | 57,126,379,000 | 14,649,294,000 | 18,433,136,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 17.7 | Trailing four quarters |
| 2024-12-31 | 16.4 | Trailing four quarters |
| 2023-12-31 | 14 | Trailing four quarters |
| 2022-12-31 | 31.8 | Annual net income |
| 2021-12-31 | 9.4 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 64.56 | 16.72 | 13.58 | 17.39 |
| 2017-12-31 | 68.59 | 20.05 | 17.75 | 22.75 |
| 2018-12-31 | 68.52 | 18.23 | 27.36 | 23.68 |
| 2019-12-31 | 70.37 | 18.67 | 24.1 | 23.35 |
| 2020-12-31 | 69.7 | 20.35 | 16.18 | 22.18 |
| 2021-12-31 | 73.31 | 22.87 | 54.63 | 27.52 |
| 2022-12-31 | 73.35 | 18.28 | 16 | 26.61 |
| 2023-12-31 | 73.27 | 20.94 | 31.83 | 25.09 |
| 2024-12-31 | 75.2 | 28.12 | 23.09 | 26.69 |
| 2025-12-31 | 75.02 | 31.15 | 25.64 | 32.27 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-03.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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