Novartis AG (NVS) income statement
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
Novartis AG (NVS) reported revenue of $15B for Q3 '26 (+4.7% year on year), operating income of $1.84B (12.3% of revenue) and net income of $1.2B. Over the last four quarters revenue was $56.3B.
Income statement
| Income statement | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.8B | $12.1B | $12.9B | $13.2B | $13.6B | $13.6B | $14.8B | $14.4B | $13.3B | $13.5B | $14.4B | $15B | |
| Cost of revenue | $3.02B | $3.1B | $3.17B | $3.23B | $3.32B | $3.23B | $3.32B | $3.54B | $3.54B | $3.46B | $3.68B | $3.61B | |
| Gross profit | $8.75B | $9.02B | $9.7B | $9.94B | $10.2B | $10.4B | $11.5B | $10.8B | $9.79B | $10.1B | $10.7B | $11.4B | |
| Research & development | $2.57B | $2.42B | $2.37B | $2.39B | $2.84B | $2.37B | $2.73B | $2.94B | $2.84B | $2.74B | $2.76B | $5.15B | |
| Other operating expenses | $161M | $390M | $227M | $785M | $361M | $306M | $481M | $66M | $0 | -$50M | $0 | $1.35B | |
| Operating expenses | $6.17B | $5.65B | $5.69B | $6.31B | $6.7B | $5.73B | $6.65B | $6.32B | $6.27B | $5.83B | $6B | $9.58B | |
| Operating income | $2.58B | $3.37B | $4.01B | $3.63B | $3.53B | $4.66B | $4.86B | $4.5B | $3.52B | $4.24B | $4.74B | $1.84B | |
| Interest expense | $239M | $220M | $246M | $267M | $273M | $270M | $294M | $281M | $304M | $343M | $462M | $468M | |
| Other non-operating income (gains on investments, FX ...) | -$12M | $23M | -$73M | -$22M | -$30M | -$14M | $44M | $24M | -$1M | $53M | $0 | $58M | |
| Total non-operating income | -$205M | -$244M | -$173M | -$242M | -$245M | -$256M | -$333M | -$305M | -$303M | -$396M | -$463M | -$526M | |
| Income before tax | $2.38B | $3.13B | $3.84B | $3.39B | $3.29B | $4.41B | $4.53B | $4.2B | $3.22B | $3.84B | $4.27B | $1.32B | |
| Income tax | -$261M | $441M | $595M | $200M | $465M | $798M | $507M | $266M | $814M | $683M | $1.01B | $121M | |
| Net income | $8.48B | $2.69B | $3.25B | $3.19B | $2.82B | $3.61B | $4.04B | $3.93B | $2.41B | $3.16B | $3.27B | $1.2B | |
| EPS (basic) | $4.14 | $1.32 | $1.60 | $1.58 | $1.42 | $1.83 | $2.07 | $2.04 | $1.26 | $1.65 | $1.71 | $0.63 | |
| EPS (diluted) | $4.11 | $1.31 | $1.59 | $1.57 | $1.41 | $1.82 | $2.06 | $2.02 | $1.25 | $1.65 | $1.71 | $0.63 | |
| Shares (basic, weighted) | 2.05B | 2.04B | 2.03B | 2.01B | 1.99B | 1.97B | 1.95B | 1.93B | 1.91B | 1.91B | 1.91B | 1.9B | |
| Shares (diluted, weighted) | 2.07B | 2.06B | 2.05B | 2.03B | 2B | 1.98B | 1.96B | 1.94B | 1.93B | 1.92B | 1.91B | 1.91B | |
| Depreciation & amortization | $1.59B | $1.31B | $1.16B | $1.97B | $1.63B | $1.15B | $1.26B | $1.36B | $1.55B | $1.23B | $1.2B | $3.58B | |
| EBITDA | $4.18B | $4.66B | $5.25B | $5.61B | $5.19B | $5.83B | $6.08B | $5.84B | $5.07B | $5.41B | $5.94B | $5.37B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.4B | $43.4B | $46.1B | $48.7B | $49.9B | $44B | $43.5B | $46.7B | $51.7B | $54.8B | |
| Cost of revenue | $17.5B | $13.6B | $14.5B | $14.4B | $15.1B | $11.7B | $11.6B | $12.5B | $12.8B | $13.7B | |
| Gross profit | $31.9B | $29.8B | $31.6B | $34.3B | $34.8B | $32.2B | $31.9B | $34.2B | $38.9B | $41.1B | |
| Research & development | $9.04B | $8.39B | $8.49B | $9.4B | $8.98B | $8.64B | $9.17B | $11.4B | $10B | $10.7B | |
| Sales & marketing | $12B | $12.9B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| General & administrative | $2.19B | $2.14B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other operating expenses | $417M | $215M | $980M | $1.4B | $1.45B | $715M | $2.57B | $531M | $1.76B | $0 | |
| Operating expenses | $23.6B | $21.1B | $23.2B | $25.2B | $24.6B | $22.2B | $23.9B | $24.4B | $24.4B | $24B | |
| Operating income | $8.27B | $8.7B | $8.4B | $9.09B | $10.2B | $10.1B | $7.95B | $9.77B | $14.5B | $17.1B | |
| Interest income | $43M | $110M | $293M | $245M | $91M | $71M | $378M | $629M | $568M | $375M | |
| Interest expense | $729M | $802M | $973M | $903M | $921M | $905M | $835M | $876M | $1.04B | $1.19B | |
| Other non-operating income (gains on investments, FX ...) | -$256M | -$1.15B | -$6.62B | -$704M | -$595M | -$15.3B | -$31M | -$209M | -$102M | -$561M | |
| Total non-operating income | -$451M | $400M | $5.69B | -$146M | -$274M | $14.5B | -$769M | -$646M | -$904M | -$638M | |
| Income before tax | $7.82B | $9.1B | $14.1B | $8.94B | $9.88B | $24.5B | $7.18B | $9.12B | $13.6B | $16.4B | |
| Income tax | $1.12B | $1.6B | $1.3B | $1.79B | $1.81B | $1.63B | $1.13B | $551M | $1.7B | $2.4B | |
| Net income | $6.71B | $7.7B | $12.6B | $11.7B | $8.07B | $24B | $6.96B | $14.9B | $11.9B | $14.1B | |
| EPS (basic) | $2.82 | $3.28 | $5.44 | $3.12 | $3.54 | $10.71 | $3.19 | $7.15 | $5.92 | $7.25 | |
| EPS (diluted) | $2.80 | $3.25 | $5.38 | $3.08 | $3.52 | $10.63 | $3.17 | $7.10 | $5.87 | $7.19 | |
| Shares (basic, weighted) | 2.38B | 2.35B | 2.32B | 2.29B | 2.28B | 2.24B | 2.18B | 2.08B | 2.02B | 1.94B | |
| Shares (diluted, weighted) | 2.4B | 2.37B | 2.34B | 2.32B | 2.3B | 2.26B | 2.2B | 2.09B | 2.04B | 1.96B | |
| Depreciation & amortization | $6.04B | $4.74B | $5.21B | $5.83B | $6.46B | $5.6B | $6.71B | $8.28B | $6.07B | $5.35B | |
| EBITDA | $14.6B | $14.6B | $20.2B | $15.6B | $17.2B | $30.9B | $14.7B | $18.3B | $20.7B | $23B |
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.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates: Financial Modeling Prep.
Data as of 2026-11-01