Novartis (NVS) Financial Statements & Analysis

Novartis (NVS) Income Statement

Novartis reported revenue of $56.67B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 9.6% from $51.72B a year earlier. Net income was $13.98B, up 17.1% year over year, a net margin of 24.7%. Gross margin was 75.8% and operating margin 31.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $14.95B, up 0.8% from the same quarter a year earlier.

Novartis Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Novartis AG income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	56.67	51.72	46.66	43.46	43.97	49.90	48.68	46.10	43.40
Cost of Revenue	13.62	12.82	12.47	11.58	11.39	15.12	14.43	14.51	13.63
Gross Profit	42.98	38.90	34.19	31.88	32.24	34.78	34.25	31.59	29.77
Operating Expenses
Research & Development	10.69	9.51	11.37	9.17	8.26	8.98	9.40	8.49	8.39
Selling, General & Administrative	13.24	12.56	12.52	12.19	12.76	14.20	14.37	13.72	12.47
Operating Expenses	25.33	24.35	24.42	23.93	22.18	24.63	25.17	23.19	21.07
Operating Income	17.64	14.54	9.77	7.95	10.06	10.15	9.09	8.40	8.70
Other Income/Expense
Interest Income	-0.01	-0.04	0.63	-0.01	15.34	0.09	0.25	0.29	0.11
Interest Expense	-1.14	-1.01	0.86	-0.80	-0.79	0.92	0.90	0.97	0.80
Other Income/Expense	-1.29	-0.90	-0.23	-0.77	14.47	-0.27	-0.15	5.69	0.40
Income
Income Before Tax	16.35	13.64	9.12	7.18	24.53	9.88	8.94	14.10	9.10
Income Tax Expense	2.39	1.70	0.55	1.13	1.63	1.81	1.79	1.30	1.60
Net Income	13.98	11.94	14.85	6.96	24.02	8.07	11.73	12.61	7.70
Net Income - Continuous Operations	14.06	11.94	8.57	6.05	24.02	8.07	11.73	12.61	7.70
Net Income - Discontinued Operations	-	-	6.28	0.91	-	-	-	-	-
EBITDA	23.47	20.66	18.26	13.94	15.63	17.21	15.62	20.24	14.59
EBIT	19.01	16.32	9.98	9.21	10.96	-	-	-	-
Depreciation & Amortization	4.47	4.34	8.28	4.73	4.67	6.46	5.83	5.21	4.74
Earnings Per Share
Basic EPS	7.00	6.00	7.00	3.00	11.00	4.00	3.00	5.00	3.00
Diluted EPS	7.00	6.00	7.00	3.00	11.00	4.00	3.00	5.00	3.00
Basic Shares Outstanding	1.94	2.02	2.08	2.18	2.24	2.28	2.29	2.32	2.35
Diluted Shares Outstanding	1.96	2.04	2.09	2.20	2.26	2.30	2.32	2.34	2.37

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Novartis Financial Statements

What was Novartis's revenue in fiscal 2025?

Novartis reported revenue of $56.67B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 9.6% from $51.72B a year earlier.

Is Novartis profitable?

Yes. Novartis earned net income of $13.98B in fiscal 2025, a net margin of 24.7%. In fiscal 2024 it earned $11.94B.

What is Novartis's operating margin?

Novartis's operating income was $17.64B on revenue of $56.67B in fiscal 2025, an operating margin of 31.1%, compared with 28.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition