Novartis AG
Financial Performance
Novartis Revenue & Financials
Revenue
$56.7B (FY2025)
Market Cap
$275.3B
Net Income
$14B
Employees
75,267
What is Novartis's revenue?
Novartis had $56.7B in revenue for fiscal year 2025, up 9.6% from 2024. Net income was $14B.
- Latest revenue
- $56.7B (FY2025)
- Year-over-year
- +9.6%
- Growth rate (CAGR)
- 6.5% over 4 years
- Peak revenue
- $56.7B (FY2025)
- Years of data
- 5
- Employees
- 75,267
- How much profit does Novartis make?
- Novartis reported net income of $14B for fiscal year 2025. sec.gov
- How many employees does Novartis have?
- Novartis has about 75,267 employees.
Financial Analysis
Novartis grew FY2025 net sales 8% to $54.5 billion with a core operating margin above 40% and free cash flow of $17.6 billion. 2026 is a reset year: US generics of Entresto and Promacta cut Q1 2026 net sales 5% at constant currencies to $13.1 billion and core operating income 14%. Q2 2026 net sales rose 1% cc to $14.4 billion with a 41.2% core margin, though net income fell 19%. Management guides for low single-digit sales growth and a low single-digit decline in core operating income for 2026 at constant currencies. Novartis is a Swiss multinational pharmaceutical corporation with a market valuation generally exceeding $200 billion.
Revenue Trend Analysis
YoY Change
+9.6%
4-Year CAGR
+6.5%
Peak Year
2025
Trend
Consistent Growth
Novartis AG has 5 full fiscal year figures on this page, compounding at +6.5% annually over 4 years. The most recent year saw a 9.6% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $56.7B. Of 4 comparable year-over-year steps, 3 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | $56.7B | $14B | +9.6% | Novartis AG Form 20-F for fiscal year 2025 (net sales from continuing operations plus other revenues) Fiscal year ended 2025-12-31. Net sales of $54.532B plus other revenues of $2.142B; Net income attributable to shareholders of Novartis AG. |
| FY2024 | $51.7B | $11.9B | +10.8% | Novartis AG (SWX:NOVN) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-12-31. |
| FY2023 | $46.7B | $14.8B | +7.4% | Novartis AG (SWX:NOVN) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-12-31. |
| FY2022 | $43.5B | $7B | -1.2% | Novartis AG (SWX:NOVN) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-12-31. |
| FY2021 | $44B | $24B | — | Novartis AG (SWX:NOVN) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2021-12-31. |
Click any row to see year details.
Related Companies
Compare Novartis AG Revenue With Competitors
Keep researching Novartis
Novartis Revenue and Financial FAQ
What was Novartis AG's annual net sales and core operating income in recent fiscal years?
Novartis AG reported FY2025 net sales of $54.5 billion, up 8% from $50.3 billion in FY2024, and core operating income of $21.9 billion, up from $19.5 billion. Total revenues including other revenues were $56.7 billion, up from $51.7 billion.
What is Novartis's Core Operating Income margin?
Novartis reported a core operating income margin of 40.1% of net sales in 2025, up 210 basis points at constant currencies, driven by the structural spinoff of lower-margin Sandoz, high-margin blockbuster medicine volume growth, and operational manufacturing productivity.
How much free cash flow does Novartis generate annually?
Novartis generated free cash flow of $17.6 billion in 2025, up 8% from $16.3 billion in 2024, providing substantial liquidity for bolt-on M&A, research investments, and shareholder capital returns.
How much does Novartis invest annually in Research and Development (R&D)?
Novartis spent $11.2 billion on research and development in 2025 (about 20.5% of net sales), advancing a deep pipeline of over 100 clinical-stage developmental projects.
What is Novartis's dividend track record and dividend aristocrat status in Switzerland?
Novartis proposed a dividend of CHF 3.70 per share for 2025, which the company described as its 29th consecutive annual increase since its 1996 creation.
What is Novartis's share buyback and capital return framework?
Novartis returns cash through a rising annual dividend and large share buybacks, including the up to $15 billion program announced in 2023 after the Sandoz spin-off.
What was the financial proceeds from Novartis selling its historic 33% stake in Roche?
In November 2021, Novartis sold its historic 33.3% voting stake in Swiss rival Roche back to Roche for $20.7 billion (19 billion CHF) in cash, monetizing a 20-year passive equity investment at a large profit to fund internal R&D and share repurchases.
What is Novartis's corporate credit rating and balance sheet leverage?
Novartis holds strong investment-grade credit ratings from S&P and Moody's and funds itself through bonds in US dollars, euros and Swiss francs.
How did Novartis perform in 2026 so far?
Q1 2026 net sales fell 5% at constant currencies to $13.1 billion and core operating income dropped 14%, mainly from US generics of Entresto and Promacta. Q2 2026 net sales rose 1% cc to $14.4 billion with a 41.2% core margin. Novartis guides for low single-digit sales growth and a low single-digit decline in core operating income for 2026.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Novartis Revenue & Financials." CorpDigest, https://corpdigest.com/company/novartis/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Novartis reported $56.7B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/novartis/financials" target="_blank" rel="noopener">CorpDigest — Novartis financials</a></div>Related Financial Audits
Compare revenue, net income, and market cap scale
Explore Novartis
Core profile pages, founders and related research hubs for this company.