F. Hoffmann-La Roche AG
Financial Performance
Roche Revenue & Financials
Revenue
~$76B (FY2025)
Market Cap
$355B
Net Income
~$15.5B
Employees
112,774
What is Roche's revenue?
Roche had ~$76B in total revenue, including royalties and other operating income for fiscal year 2025, up 1.5% from 2024. Net income was ~$15.5B.
- Latest revenue
- ~$76B (FY2025)
- Year-over-year
- +1.5%
- Growth rate (CAGR)
- -1% over 4 years
- Peak revenue
- ~$79B (FY2021)
- Years of data
- 5
- Employees
- 112,774
- How much profit does Roche make?
- Roche reported net income of ~$15.5B for fiscal year 2025. stockanalysis.com
- How many employees does Roche have?
- Roche has about 112,774 employees.
Financial Analysis
Roche's 2025 group sales were ~$73.8 billion (CHF 61.5 billion), up 7% at constant exchange rates but only 2% in Swiss francs. Core operating profit grew 13% CER to ~$26.2 billion (CHF 21.8 billion), core EPS was CHF 19.46, and IFRS net income jumped to ~$16.6 billion (CHF 13.8 billion) from ~$11 billion (CHF 9.2 billion) in 2024, when impairments depressed profit. In H1 2026 core operating margin widened 1.7 points to 39.0%, while a strong franc pushed reported sales down 2%. The board raised the dividend to CHF 9.80, the 39th consecutive increase, and guided for mid-single-digit CER sales growth and high-single-digit core EPS growth in 2026. F. Hoffmann-La Roche AG is a colossal Swiss multinational healthcare company operating heavily under two massive divisions: Pharmaceuticals and Diagnostics, sustaining a market valuation generally exceeding $250 billion.
Revenue Trend Analysis
YoY Change
+1.5%
4-Year CAGR
-1%
Peak Year
2021
Trend
Mostly Growing
F. Hoffmann-La Roche AG has 5 full fiscal year figures on this page, compounding at -1% annually over 4 years. The most recent year saw a 1.5% increase versus the prior year. Annual revenue peaked in fiscal year 2021 at ~$79B. Of 4 comparable year-over-year steps, 2 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | RevenueTotal revenue, including royalties and other operating income | Net IncomeNet income as reported in the cited statements | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$76B | ~$15.5B | +1.5% | Roche Holding AG (SWX:ROP) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2025-12-31. |
| FY2024 | ~$74.9B | ~$9.9B | +3.2% | Roche Holding AG (SWX:ROP) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-12-31. |
| FY2023 | ~$72.5B | ~$13.8B | -8.2% | Roche Holding AG (SWX:ROP) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-12-31. |
| FY2022 | ~$79B | ~$14.9B | -0.1% | Roche Holding AG (SWX:ROP) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-12-31. |
| FY2021 | ~$79B | ~$16.7B | — | Roche Holding AG (SWX:ROP) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2021-12-31. |
Click any row to see year details.
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Roche Revenue and Financial FAQ
What was Roche's revenue performance in 2023 and 2024?
Roche generated CHF 58.7 billion (approximately $66 billion) in group sales in 2023, maintaining stable revenue despite a CHF 4.3 billion drop in pandemic-related COVID-19 testing sales, rebounding toward CHF 60+ billion in 2024.
What is Roche's Core Operating Profit margin?
Roche consistently delivers a robust Core Operating Profit margin between 32% and 35%, generating over CHF 19 billion to CHF 20 billion in annual core operating profit.
How much does Roche spend on Research and Development (R&D) annually?
Roche spent CHF 13.2 billion (approximately $15 billion) on R&D in 2023—representing roughly 22.5% of total revenue—ranking as the second-largest corporate R&D spender in the global healthcare industry.
What are Roche's top-selling pharmaceutical drugs by annual sales?
Roche's leading blockbusters include Ocrevus (multiple sclerosis, CHF 6.4B+), Hemlibra (hemophilia, CHF 4.1B+), Vabysmo (ophthalmology, CHF 2.4B+ and doubling rapidly), Tecentriq (cancer immunotherapy, CHF 3.8B+), and Perjeta (breast cancer, CHF 3.8B+).
How did COVID-19 test demand affect Roche's financial comparisons?
During 2021-2022, Roche Diagnostics generated historic windfalls exceeding CHF 5 billion from COVID-19 PCR and rapid antigen tests. As pandemic demand normalized in 2023, Diagnostics sales fell 13% before stabilizing into routine clinical growth in 2024.
What is Roche's dividend track record and policy?
Roche is a classic European "Dividend Aristocrat," having increased its dividend per share for over 37 consecutive years, distributing over CHF 7.8 billion annually to shareholders with a consistent dividend yield around 3.5% to 4.5%.
What is Roche's relationship with Chugai Pharmaceutical in Japan?
Roche owns a 59.9% majority stake in Chugai Pharmaceutical Co., Ltd. (listed in Tokyo), which operates as an autonomous research entity. Chugai developed historic blockbusters Hemlibra and Actemra, contributing billions in consolidated sales and high-margin royalties to Roche.
What is the credit rating and balance sheet health of Roche?
Roche holds premier investment-grade credit ratings (AA from S&P and Aa2 from Moody's), reflecting low net debt, massive annual free cash flow (CHF 12B+ operating cash flow), and fortress balance sheet liquidity.
What was the financial impact of biosimilar competition on Herceptin, Avastin, and Rituxan?
Between 2019 and 2022, biosimilars eroded more than CHF 12 billion in combined annual sales from Herceptin, Avastin, and Rituxan. Roche's newer drug portfolio fully absorbed this loss and restored group organic top-line sales growth.
How much did Roche pay to repurchase shares held by rival Novartis?
In December 2021, Roche executed a historic CHF 19.0 billion ($20.7 billion) transaction to repurchase Novartis's 33% voting stake in Roche, successfully retiring the shares, enhancing earnings per share (EPS), and cementing the Hoffmann-Oeri family's controlling voting majority.
What is Roche's capital structure regarding voting and non-voting equity?
Roche has a dual-class share structure: 107 million bearer voting shares (controlled ~50.1% by the founder family pool) and 702 million non-voting equity securities (Genussscheine, ticker: ROG on SIX Swiss Exchange), which represent the widely traded liquid equity.
How does Roche finance multi-billion-dollar biotech acquisitions like Telavant and Carmot?
Roche finances acquisitions using a combination of strong operational cash flow, short-term commercial paper, and long-term multi-currency corporate bonds denominated in US dollars, euros, and Swiss francs.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Roche Revenue & Financials." CorpDigest, https://corpdigest.com/company/roche/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>Roche recorded ~$76B in total revenue, including royalties and other operating income (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/roche/financials" target="_blank" rel="noopener">CorpDigest — Roche financials</a></div>Related Financial Audits
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