Novartis AG NVS
Slide the table for earlier years · "·" marks a figure not available in our data for that year.
What this company does
Written from the business description in Novartis AG's annual report to the U.S. Securities and Exchange Commission, filed 4 February 2026. Every sentence was checked against that document before publication.
Growth
Revenue compounded at +2.3% a year over the five years to FY2025 — but profit grew faster: net income at +11.6%, earnings per share at +15.2%.
The share count fell from 2.26B to 1.91B — the buyback concentrates the same profit into fewer slices.
Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.
Profitability
Each USD of equity produced 31 cents of profit this year.
The 10-year record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue $B | 54.5 | 50.3 | 45.4 | 42.2 | 42.8 | 48.7 | 47.5 | 44.8 | 42.4 | 48.5 |
| Operating income $B | 17.6 | 14.5 | 9.8 | 7.9 | 10.1 | 10.2 | 9.1 | 8.4 | 8.7 | 8.3 |
| EBITDA $B | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ |
| Income tax $B | 2.4 | 1.7 | 0.6 | 1.1 | 1.6 | 1.8 | 1.8 | 1.3 | 1.6 | 1.1 |
| Net income $B | 14.0 | 11.9 | 14.8 | 7.0 | 24.0 | 8.1 | 11.7 | 12.6 | 7.7 | 6.7 |
| Free cash flow $B | 17.6 | 16.3 | 13.4 | 13.3 | 14.0 | 12.4 | 12.2 | 13.0 | 11.3 | 9.6 |
| EPS, diluted $ | 7.15 | 5.87 | 7.10 | 3.17 | 10.63 | 3.52 | 5.06 | 5.38 | 3.25 | 2.80 |
| Dividend / sh $ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ | ◌ |
| Payout % — not applicable: no dividend | — | — | — | — | — | — | — | — | — | — |
| ROE % | 31.0 | 26.3 | 28.0 | 11.0 | 38.7 | 14.4 | 17.5 | 16.5 | 10.3 | 9.0 |
| Shares out B | 1.91 | 1.98 | 2.04 | 2.12 | 2.23 | 2.26 | 2.27 | 2.31 | 2.32 | 2.37 |
Slide the table for earlier years. "—" not applicable · "◌" not available in our data.
This company against its peers
Company facts, as filed
No fiscal year had a computed check that closed clean. 10 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 20 checks were skipped: the balance sheet is not tagged before 2017. Nine checks were skipped: EPS is not tagged before 2016. Nine checks were skipped: revenue is not tagged before 2016.