Novartis AG (NVS) balance sheet
NYSE · Healthcare · Drug Manufacturers - General · 75,267 employees · CEO Vasant Narasimhan
- Price
- $160.79 -0.19%
- Market cap
- $304B
- Enterprise value
- $346B
- Last report
- Q3 '26 filed 2026-10-27
- Next report
- 2027-02-03
At the end of Q3 '26 Novartis AG (NVS) held $8.98B in cash and short-term investments against $48.3B of debt incl. leases. Total assets $117B, total liabilities $79.6B, shareholders' equity $37.2B.
Balance sheet
| Balance sheet | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $13.4B | $9.47B | $7.9B | $13.6B | $11.5B | $7.07B | $6.66B | $9.56B | $11.4B | $6.88B | $7.62B | $8.87B | |
| Short-term investments | $1.03B | $225M | $532M | $411M | $1.89B | $130M | $344M | $197M | $155M | $100M | $74M | $105M | |
| Receivables | $8.12B | $8.25B | $8.48B | $8.15B | $8.21B | $8.73B | $9.18B | $8.98B | $10.9B | $9.6B | $9.85B | $9.96B | |
| Inventory | $5.91B | $5.74B | $5.75B | $5.94B | $5.72B | $5.83B | $6.31B | $6.42B | $6.27B | $6.29B | $6.22B | $6.1B | |
| Other current assets | $1.25B | $2.76B | $3.03B | $3.16B | $1.43B | $3.36B | $3.46B | $3.04B | $571M | $3.74B | $3.59B | $3.71B | |
| Current assets | $30.5B | $26.4B | $25.7B | $31.3B | $29.7B | $25.1B | $25.9B | $28.2B | $30.5B | $26.6B | $27.4B | $28.7B | |
| Property, plant & equipment (net) | $10.9B | $10.5B | $10.6B | $11.2B | $10.9B | $11.1B | $11.8B | $12B | $12.4B | $12.2B | $12.3B | $12.3B | |
| Long-term investments | $2.7B | $2.58B | $2.13B | $2.19B | $1.13B | $2.1B | $2.16B | $2.15B | $2.3B | $2.43B | $2.37B | $2.1B | |
| Goodwill | $23.3B | $23.1B | $25.2B | $24.9B | $24.8B | $25B | $25.6B | $25.6B | $25.6B | $26.8B | $26.8B | $27.2B | |
| Intangible assets | $26.9B | $26.3B | $27.8B | $27.9B | $26.9B | $27.5B | $29.2B | $29B | $29.4B | $40.2B | $42.1B | $39.8B | |
| Deferred tax assets | $8.19B | $4.22B | $4.4B | $4.65B | $4.36B | $5.1B | $5.2B | $5.58B | $5.44B | $5.25B | $5.28B | $5.35B | |
| Other non-current assets | $1.31B | $1.21B | $1.66B | $1.39B | $4.51B | $4.11B | $4.47B | $4.78B | $10B | $4.98B | $5.93B | $1.69B | |
| Non-current assets | $73.3B | $67.9B | $71.8B | $72.3B | $72.5B | $74.8B | $78.5B | $79.1B | $85.1B | $91.9B | $94.7B | $88.4B | |
| Total assets | $104B | $94.3B | $97.5B | $104B | $102B | $99.9B | $104B | $107B | $116B | $119B | $122B | $117B | |
| Liabilities | |||||||||||||
| Accounts payable | $4.93B | $4.06B | $4.15B | $4.09B | $4.57B | $4.26B | $4.51B | $4.56B | $4.46B | $4.32B | $4.26B | $4.24B | |
| Accrued expenses | $2.33B | $0 | $0 | $0 | $2.18B | $0 | $0 | $0 | $2.48B | $0 | $0 | $0 | |
| Short-term debt | $6.31B | $8.34B | $7.53B | $6.57B | $8.09B | $7.8B | $8.31B | $7.52B | $5.52B | $7.62B | $9.86B | $9.65B | |
| Taxes payable | $1.89B | $1.65B | $1.92B | $2.17B | $2.23B | $2.57B | $2.83B | $3.34B | $2.58B | $1.81B | $0 | $2.65B | |
| Deferred revenue | $98M | $0 | $0 | $0 | $127M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other current liabilities | $10.8B | $15B | $13.8B | $15.1B | $10.4B | $16.7B | $15.8B | $16.3B | $12B | $17.4B | $15.3B | $15.7B | |
| Current liabilities | $26.4B | $29.3B | $27.6B | $28.1B | $28.7B | $31.6B | $31.7B | $32B | $27.3B | $31.4B | $31.7B | $32.5B | |
| Long-term debt | $18.4B | $17.2B | $19.7B | $23.8B | $21.4B | $21.7B | $22.5B | $22.6B | $29.6B | $37.4B | $37.5B | $36.7B | |
| Lease obligations (non-current) | $1.6B | $1.53B | $1.56B | $1.6B | $1.57B | $1.56B | $1.59B | $1.64B | $1.66B | $1.66B | $1.66B | $1.68B | |
| Deferred tax liabilities | $6.13B | $2.31B | $2.46B | $2.22B | $2.42B | $2.55B | $2.32B | $2.17B | $8.02B | $5.1B | $5.29B | $4.4B | |
| Other non-current liabilities | $4.52B | $4.26B | $4.31B | $4.39B | $4.08B | $4.1B | $4.24B | $4.13B | $2.48B | $4.02B | $3.9B | $4.28B | |
| Non-current liabilities | $30.7B | $25.3B | $28B | $32B | $29.4B | $29.9B | $30.6B | $30.5B | $41.7B | $48.2B | $48.3B | $47.1B | |
| Total liabilities | $57.1B | $54.6B | $55.6B | $60.1B | $58.1B | $61.5B | $62.3B | $62.5B | $69B | $79.6B | $80.1B | $79.6B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $825M | $793M | $793M | $793M | $793M | $766M | $766M | $766M | $766M | $736M | $736M | $736M | |
| Retained earnings | $49.6B | $43.8B | $45.8B | $46.3B | $46.6B | $39.8B | $41.5B | $43.5B | $44.7B | $37.3B | $39.6B | $39.2B | |
| Accumulated other comprehensive income | -$3.77B | -$4.94B | -$4.87B | -$3.73B | $43.3B | -$2.22B | -$275M | $98M | $694M | $571M | $1.21B | -$2.69B | |
| Shareholders' equity | $46.7B | $39.7B | $41.7B | $43.3B | $44B | $38.4B | $42B | $44.3B | $46.1B | $38.5B | $41.5B | $37.2B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $26.3B | $27.3B | $29B | $32.2B | $31.3B | $31.3B | $32.6B | $32B | $37.1B | $47B | $49B | $48.3B | |
| Net debt (debt - cash) | $13B | $17.8B | $21.1B | $18.6B | $19.8B | $24.2B | $26B | $22.5B | $25.7B | $40.1B | $41.4B | $39.4B | |
| Balance sheet | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $7.01B | $8.86B | $13.3B | $11.1B | $9.66B | $12.4B | $7.52B | $13.4B | $11.5B | $11.4B | |
| Short-term investments | $770M | $625M | $2.69B | $334M | $1.91B | $15.7B | $11.1B | $569M | $1.89B | $155M | |
| Receivables | $10.2B | $10.1B | $9.68B | $9.17B | $9.07B | $9.62B | $9.89B | $9.38B | $8.21B | $10.9B | |
| Inventory | $6.26B | $6.87B | $6.96B | $5.98B | $7.13B | $6.67B | $7.18B | $5.91B | $5.72B | $6.27B | |
| Other current assets | $0 | $1.03B | $3.23B | $2.01B | $963M | $216M | $315M | $466M | $1.43B | $514M | |
| Current assets | $24.9B | $28.2B | $35.6B | $29.5B | $29.7B | $45.7B | $36.9B | $30.5B | $29.7B | $30.5B | |
| Property, plant & equipment (net) | $15.6B | $16.5B | $15.7B | $13.7B | $13.9B | $13.1B | $12.2B | $10.9B | $10.9B | $12.4B | |
| Long-term investments | $16.5B | $17.6B | $10.7B | $11B | $12.4B | $2.27B | $1.61B | $1.83B | $1.13B | $2.3B | |
| Goodwill | $31B | $31.8B | $35.3B | $26.5B | $30B | $29.6B | $29.3B | $23.3B | $24.8B | $25.6B | |
| Intangible assets | $31.3B | $30B | $38.7B | $28.8B | $36.8B | $34.2B | $31.6B | $26.9B | $26.9B | $29.4B | |
| Deferred tax assets | $10B | $8.23B | $8.7B | $7.95B | $8.34B | $3.74B | $3.74B | $4.31B | $4.36B | $10.1B | |
| Other non-current assets | $698M | $818M | $895M | $897M | $981M | $3.18B | $2.06B | $2.18B | $4.51B | $5.42B | |
| Non-current assets | $105B | $105B | $110B | $88.9B | $103B | $86.1B | $80.5B | $69.5B | $72.5B | $85.1B | |
| Total assets | $130B | $133B | $146B | $118B | $132B | $132B | $117B | $99.9B | $102B | $116B | |
| Liabilities | |||||||||||
| Accounts payable | $4.87B | $5.17B | $5.56B | $5.42B | $5.4B | $5.55B | $5.15B | $4.93B | $4.57B | $4.46B | |
| Accrued expenses | $1.99B | $2.33B | $2.53B | $2.46B | $2.29B | $1.97B | $1.94B | $1.99B | $2.18B | $2.25B | |
| Short-term debt | $5.91B | $5.2B | $9.62B | $7.09B | $9.88B | $6.23B | $5.88B | $6.08B | $8.09B | $5.78B | |
| Taxes payable | $2.15B | $2.38B | $2.57B | $2.19B | $2.46B | $3.03B | $3.37B | $2.41B | $2.23B | $2.58B | |
| Deferred revenue | $287M | $305M | $236M | $114M | $56M | $123M | $123M | $98M | $127M | $0 | |
| Other current liabilities | $9.15B | $8.68B | $9.63B | $11B | $13B | $12.4B | $11.2B | $9.84B | $10.4B | $12.8B | |
| Current liabilities | $22.2B | $23.4B | $29.6B | $28.3B | $33.1B | $30.2B | $28.7B | $26.4B | $28.7B | $27.3B | |
| Long-term debt | $17.9B | $23.2B | $22.5B | $20.4B | $26.3B | $22.9B | $20.2B | $18.4B | $21.4B | $29.6B | |
| Lease obligations (non-current) | $82M | $0 | $0 | $1.7B | $1.72B | $1.62B | $1.54B | $1.6B | $1.57B | $1.66B | |
| Deferred revenue (non-current) | $7.01B | $5.67B | $5.95B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Deferred tax liabilities | $6.66B | $5.17B | $7.48B | $5.91B | $7.55B | $3.07B | $2.69B | $2.25B | $2.42B | $8.02B | |
| Other non-current liabilities | $8.03B | $6.55B | $8.85B | $6.63B | $6.93B | $6.17B | $4.91B | $4.52B | $4.08B | $2.48B | |
| Non-current liabilities | $33B | $35.4B | $37.3B | $34.6B | $42.5B | $33.8B | $29.4B | $26.8B | $29.4B | $41.7B | |
| Total liabilities | $55.2B | $58.9B | $66.9B | $62.9B | $75.5B | $64B | $58B | $53.2B | $58.1B | $69B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $972M | $969M | $944M | $936M | $913M | $901M | $890M | $825M | $793M | $766M | |
| Retained earnings | $81.1B | $77.6B | $82.2B | $59.3B | $57.2B | $71B | $63.5B | $49.6B | $46.6B | $44.7B | |
| Accumulated other comprehensive income | $73.9B | $73.3B | $77.7B | -$4.66B | -$1.42B | -$4.19B | -$5B | -$3.77B | -$3.26B | $694M | |
| Shareholders' equity | $74.8B | $74.2B | $78.6B | $55.5B | $56.6B | $67.7B | $59.3B | $46.7B | $44B | $46.1B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $23.8B | $28.4B | $32.1B | $29.1B | $37.9B | $31B | $27.9B | $26.3B | $31.3B | $37B | |
| Net debt (debt - cash) | $16.8B | $19.6B | $18.8B | $18B | $28.2B | $18.6B | $20.4B | $13B | $19.8B | $25.6B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics and estimates: Financial Modeling Prep.
Data as of 2026-11-01