NVS: financial statements from SEC — TradeAlmanac

NVS

Novartis AG: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Revenue	54.53bn	50.32bn	45.44bn	42.21bn
Cost of revenue	13.70bn	12.83bn	12.47bn	11.58bn
Gross profit	42.98bn	38.90bn	34.19bn	31.88bn
Research and development	11.20bn	10.02bn	11.37bn	9.17bn
Selling, general and administrative	13.25bn	12.57bn	12.52bn	12.19bn
Operating income	17.64bn	14.54bn	9.77bn	7.95bn
Interest expense	1.14bn	1.01bn	855m	800m
Pre-tax income	16.35bn	13.64bn	9.12bn	7.18bn
Income tax	2.39bn	1.70bn	551m	1.13bn
Net income	13.97bn	11.94bn	14.85bn	6.96bn
Earnings per share	7.21	5.92	7.15	3.19
Earnings per share, diluted	7.15	5.87	7.10	3.17

Balance sheet

Metric	Aug 18, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and equivalents	—	11.44bn	11.46bn	13.39bn	7.52bn	12.41bn
Receivables	—	8.94bn	7.42bn	7.11bn	—

Cash flow

Metric	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Operating cash flow	19.14bn	17.62bn	14.46bn	14.24bn
Capital expenditure	1.55bn	1.37bn	1.06bn	916m
Investing cash flow	−4.88bn	−7.51bn	5.60bn	1.47bn
Financing cash flow

Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)