Novartis AG (NVS): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
Novartis AG (NVS) closed at $138.62 on 15 September 2026, down 0.3%. The stock is down 8.1% over one month and up 11.7% over one year. It trades 18.7% below its 52-week high of $170.46. Analysts recorded 1 action in the last 90 days; the median price target of $153 is 10.4% above the last close. The company last reported on 21 July 2026 for Q2 2026: EPS of $2.41 against an estimate of $2.16, a beat of 11.6%, on revenue of $14.4 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open NVS in FundSpec.
Analyst ratings
Over the last 90 days FundSpec recorded 1 analyst action on NVS from 1 firm: 1 upgrade. Price targets were 1 raised. The two most recent targets on file are $136 and $170, 10.4% above the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 10 Sep 2026 | HSBC | Upgrades to Hold from Reduce | $123.00 to $136.00 |
| 26 Mar 2026 | Morgan Stanley | Maintains Overweight | $143.00 to $170.00 |
| 6 Jan 2026 | Barclays | Upgrades to Equal-Weight from Underweight | |
| 8 Dec 2025 | JP Morgan | Upgrades to Overweight from Neutral | |
| 27 Oct 2025 | Jefferies | Assumes Hold | |
| 12 Sep 2025 | Goldman Sachs | Downgrades to Sell from Neutral | $119.00 to $118.00 |
| 13 Feb 2025 | UBS | Downgrades to Neutral from Buy | |
| 19 Nov 2024 | Erste Group | Downgrades to Hold from Buy | |
| 30 Oct 2024 | BMO Capital | Maintains Market Perform | $118.00 to $120.00 |
| 11 Sep 2024 | B of A Securities | Downgrades to Neutral from Buy | $135.00 to $130.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 27 October 2026 before the open for Q3 2026, with EPS expected at $2.23 on revenue of $14.6 billion. Novartis AG beat the EPS estimate in 6 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 21 Jul 2026 | $2.16 | $2.41 | +11.57% | $14.4B |
| Q1 2026 | 28 Apr 2026 | $2.07 | $1.99 | -3.86% | $13.1B |
| Q4 2025 | 4 Feb 2026 | $2.00 | $2.03 | +1.50% | $13.3B |
| Q3 2025 | 28 Oct 2025 | $2.29 | $2.25 | -1.75% | $13.9B |
| Q2 2025 | 17 Jul 2025 | $2.38 | $2.47 | +3.78% | $14.1B |
| Q1 2025 | 29 Apr 2025 | $2.08 | $2.28 | +9.62% | $13.2B |
| Q4 2024 | 31 Jan 2025 | $1.79 | $1.98 | +10.61% | $13.2B |
| Q3 2024 | 29 Oct 2024 | $1.96 | $2.06 | +5.10% | $12.8B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
On a trailing twelve month basis the company shows revenue growth of N.A., a gross margin of N.A., an operating margin of N.A. and a return on equity of 30.98%.
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $11,435,000,000 |
| Inventory | $6,269,000,000 |
| Other Current Assets | $514,000,000 |
| Total Current Assets | $30,460,000,000 |
| Plant, Property & Equipment, Net | $10,782,000,000 |
| Goodwill Intangible Assets, Net | $54,978,000,000 |
| Deferred Tax Asset | $5,438,000,000 |
| Total Assets | $110,949,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Total Short-term Debt | $682,000,000 |
| Total Current Liabilities | $27,278,000,000 |
| Long-term Debt | $28,729,000,000 |
| Minority Interest | $419,000,000 |
| Other Borrowings | $523,000,000 |
| Other Liabilities | $505,000,000 |
| Total Liabilities | $64,400,000,000 |
| Total Stockholders Equity | $46,130,000,000 |
| Total Liability & Stockholders Equity | $110,949,000,000 |
Figures as filed with the SEC for the period ended 31 December 2025, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.42 | 58th | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 1.12 | 48th | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.27 | 71st | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.64 | 67th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Financial Leverage | 1.07 | 63rd | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
| Long Term Debt/Long Term Capital | 0.38 | 49th | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
| Long Term Debt/Total Capital | 0.38 | 52nd | Calculated as (Short-Term Debt + Long-Term Debt / (Short-Term Debt + Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Earnings Growth (EBIT)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| EBIT Pct Growth | 21.3% | 33rd | The EBIT growth rate over the trailing twelve months (TTM) |
| EBIT Pct Growth 3 year CAGR | 30.5% | 34th | The EBIT compound annual growth rate (CAGR) over the past 3 years |
| EBIT Pct Growth 5 year CAGR | 11.7% | 18th | The Adjusted EBIT compound annual growth rate (CAGR) over the past 5 years |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | 8.3% | 50th | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 3 year CAGR | 32.1% | 57th | The Free Cash Flow compound annual growth rate (CAGR) over the past 3 years |
| FCF Pct Growth 5 year CAGR | 42.2% | 54th | The Free Cash Flow compound annual growth rate (CAGR) over the past 5 years |
| FCF Return on Assets Pct | 16.5% | 94th | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | 8.7% | 52nd | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 10.4% | 60th | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 7.0% | 60th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 17.0% | 55th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | 26.2% | 80th | The Net Income compound annual growth rate (CAGR) over the past 3 years |
| Net Income Pct Growth 5 year CAGR | 11.6% | 68th | The Net Income compound annual growth rate (CAGR) over the past 5 years |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Operating Profit Pct Growth | 21.3% | 62nd | The Operating Profit growth rate over the trailing twelve months (TTM) |
| Operating Profit Pct Growth 3 year CAGR (FY) | 30.5% | 83rd | The Operating Profit compound annual growth rate (CAGR) over the past 3 years |
| Operating Profit Pct Growth 5 year CAGR (FY) | 11.7% | 69th | The Operating Profit compound annual growth rate (CAGR) over the past 5 years |
| Return on Assets Pct | 13.1% | 93rd | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 31.0% | 92nd | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 20.2% | 89th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 14.6% | 57th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open NVS in FundSpec.
Insider activity
No insider transaction was filed in the last 90 days; the most recent is from 14 July 2020.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 14 Jul 2020 | Pharma Ag Novartis | 10% Owner | Disposal | 7,367,387 | ||
| 14 Jul 2020 | Pharma Ag Novartis | 10% Owner | Acquisition | 5,908,089 | ||
| 30 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Acquisition | 125,000 | $17.00 | $2.1M |
| 30 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Acquisition | 856,262 | ||
| 30 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Disposal | 199,996 | ||
| 30 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Disposal | 856,262 | ||
| 30 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Acquisition | 199,996 | ||
| 19 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Disposal | 1,001,312 | $8.25 | $8.3M |
| 18 Jun 2020 | Bioventures Ltd Novartis | Former 10% Owner | Disposal | 900 | $9.04 | $8K |
| 17 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 4,622 | $9.27 | $43K |
| 16 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 8,600 | $9.30 | $80K |
| 15 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 6,164 | $9.05 | $56K |
| 12 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 1,500 | $9.19 | $14K |
| 11 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 7,200 | $9.21 | $66K |
| 10 Jun 2020 | Bioventures Ltd Novartis | 10% Owner | Disposal | 8,532 | $9.46 | $81K |
Insider filings record what officers and directors did with their own shares. Disposals are often planned sales or tax related, so a pattern across several insiders says more than one filing.
SEC filings
The latest filing is a 20-F from 4 February 2026.
| Filed | Form | Document |
|---|---|---|
| 4 Feb 2026 | 20-F | View on sec.gov |
| 31 Jan 2025 | 20-F | View on sec.gov |
| 31 Jan 2024 | 20-F | View on sec.gov |
| 15 May 2023 | 20-F/A | View on sec.gov |
| 1 Feb 2023 | 20-F | View on sec.gov |
| 26 Apr 2022 | 20-F/A | View on sec.gov |
| 2 Feb 2022 | 20-F | View on sec.gov |
| 26 Jan 2021 | 20-F | View on sec.gov |
| 29 Jan 2020 | 20-F | View on sec.gov |
| 30 Jan 2019 | 20-F | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Pharmaceuticals, Biotech and Chemicals
- Industry
- Pharmaceutical Products
- Headquarters
- BASEL, Switzerland
- Chief executive
- Vasant Narasimhan
- Employees
- 101,700
- Website
- novartis.com
- SEC CIK
- 0001114448
Novartis AG researches, develops, manufactures, and markets healthcare products. The company operates through two segments, Innovative Medicines and Sandoz. Sandoz provides finished dosage form medicines; active ingredients and finished dosage forms of small molecule pharmaceuticals.
Sector and peers
Novartis AG is part of the Pharmaceuticals, Biotech and Chemicals sector, which FundSpec tracks across 614 companies.
Companies in the same industry by market capitalization:
LLY ELI LILLY & CoJNJ Johnson & JohnsonABBV AbbVie Inc.MRK Merck & Co., Inc.AZN Astrazeneca plcABT Abbott LaboratoriesPFE Pfizer Inc.VRTX Vertex Pharmaceuticals Inc. / Ma
Put two of them side by side in Compare.
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