Novartis (NVS) Balance Sheet: Assets & Liabilities

Novartis (NVS) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Novartis reported total assets of $110.95B and total liabilities of $64.40B. Shareholders' equity was $46.55B, up 5.7% from $44.05B a year earlier. Total debt stood at $28.81B against $11.53B in cash and short-term investments, a net debt position of $17.28B. That puts debt-to-equity at 0.62, compared with 0.71 a year earlier.

Novartis Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Novartis AG (NVS) - 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
Current Assets
Cash and Cash Equivalents	11.44	11.46	13.39	7.52	12.41	9.66	11.11	13.27	8.86
Short-Term Investments	0.10	1.89	0.57	11.10	15.82	1.91	0.33	2.69	0.63
Cash & Short-Term Investments	11.53	13.35	13.96	18.62	28.22	11.56	11.45	15.96	9.49
Accounts Receivable	8.94	8.21	9.38	8.07	8.01	9.07	9.17	9.68	10.07
Inventory	6.27	5.72	5.91	7.18	6.67	7.13	5.98	6.96	6.87
Other Current Assets	3.46	2.42	1.23	2.74	2.44	1.91	2.90	4.05	1.79
Total Current Assets	30.46	29.70	30.48	36.91	45.72	29.67	29.50	35.56	28.21
Non-Current Assets
Property, Plant & Equipment (Net)	12.35	10.87	10.92	12.20	13.11	13.94	13.75	15.70	16.46
Long-Term Investments	2.45	1.13	1.83	0.14	3.24	12.44	11.00	10.70	17.61
Goodwill	25.57	24.76	23.34	29.30	29.60	30.00	26.52	35.29	31.75
Intangible Assets	29.41	26.92	26.88	31.64	28.68	36.81	28.79	38.72	30.00
Other Non-Current Assets	10.71	4.51	2.18	0.20	5.95	0.98	0.90	0.90	0.82
Total Non-Current Assets	85.11	72.54	69.46	80.54	86.08	102.52	88.91	110.00	104.87
Total Assets	110.95	102.25	99.95	117.45	131.80	132.19	118.41	145.56	133.08
Current Liabilities
Accounts Payable	4.46	4.57	4.93	5.15	5.55	5.40	5.42	5.56	5.17
Short-Term Debt	0.88	8.32	6.31	5.88	2.69	9.88	7.09	9.62	5.20
Current Portion of Long-Term Debt	5.60	8.23	6.18	5.93	6.30	-	-	-	-
Accrued Liabilities	14.99	2.17	13.17	1.94	15.67	-	-	-	-
Deferred Revenue	0.00	0.13	0.10	0.12	0.12	0.06	0.11	0.24	0.31
Other Current Liabilities	1.97	13.44	12.64	0.19	2.42	15.27	13.44	11.63	10.35
Total Current Liabilities	27.28	28.69	26.39	28.66	30.21	33.06	28.26	29.61	23.40
Non-Current Liabilities
Long-Term Debt	27.94	22.93	20.03	20.24	22.90	27.98	22.06	22.47	23.22
Deferred Tax Liabilities	3.40	2.42	2.25	2.69	3.07	7.55	5.91	7.48	5.17
Other Non-Current Liabilities	7.53	4.08	4.52	1.58	9.24	6.93	6.63	8.85	6.55
Total Non-Current Liabilities	37.12	29.43	26.81	29.37	33.77	42.46	34.60	37.26	35.45
Total Liabilities	64.40	58.12	53.20	58.03	63.97	75.52	62.86	66.87	58.85
Stockholders' Equity
Common Stock	0.77	0.79	0.83	0.89	0.90	0.91	0.94	0.94	0.97
Retained Earnings	45.41	46.56	49.65	63.54	66.80	57.16	59.27	82.19	77.64
Accumulated Other Comprehensive Income	0.69	-3.26	-3.77	-5.00	-4.19	-1.42	-4.66	77.74	73.30
Treasury Stock	0.05	0.05	0.04	0.09	-	-	-	-	-
Additional Paid-in Capital	-0.05	-0.05	-0.04	-0.09	-0.05	-0.05	-0.08	-0.07	-0.10
Minority Interest	0.42	0.08	0.08	0.08	0.17	0.07	0.08	0.08	0.06
Shares Outstanding	1.91	1.98	2.04	2.12	-	-	-	-	-
Total Stockholders' Equity	46.55	44.05	46.67	59.34	67.82	56.60	55.47	78.61	74.17
Total Liabilities & Equity	115.57	102.25	99.95	117.45	131.80	132.19	118.41	145.56	133.08

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

Frequently Asked Questions About Novartis Balance Sheet

How much debt does Novartis have?

Novartis had total debt of $28.81B as of Dec 31, 2025, against $11.53B in cash and short-term investments. Its debt-to-equity ratio was 0.62. Total debt was $31.26B a year earlier.

What are Novartis's total assets?

Novartis reported total assets of $110.95B as of Dec 31, 2025, up 8.5% from $102.25B a year earlier. Total liabilities were $64.40B.

What is Novartis's shareholders' equity?

Novartis's shareholders' equity was $46.55B as of Dec 31, 2025, or about $24.39 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition