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Novartis AG (NVS)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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Novartis AG Financial Ratios 2025-2011 | NVS
Brief overview of Novartis AG's multiples and efficiency
Ratios are assessed across five available annual reports in the 2021–2025 interval.
The current valuation set is P/E 22.61x (median 17.92x), EV/EBITDA 20.9x (median 20.9x), P/S 3.98x (median 3.28x). The combined multiple level is about 21.2% above the company's historical norm, leaving less valuation cushion.
At the current P/E, inverse earnings yield is 4.4%, a useful bridge between price and business earnings.
The latest available business-quality ratios are ROE 30%, ROA 12.6%, ROCE 21.1%. Profitability forms a strong profile, with capital and assets producing substantial returns.
On PEG (1.19x), the market prices growth without an obvious discount or excessive premium.
A shorter cycle, from 84 days to 0 days, indicates faster release of cash from operations.
Overall picture
Novartis AG combines strong efficiency with demanding valuation. The cushion depends on continued earnings growth.
Annual Financial Ratios Novartis AG
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
22.6 | 17.9 | 14.1 | 31.7 | 8.1 | 24.6 | 17.2 | 13.0 | 21.4 | 23.0 | 9.4 | 20.7 | 19.1 | 15.5 | 12.7 |
P/S |
- | - | - | - | - | 4.0 | 4.1 | 3.1 | 3.3 | 3.1 | 3.3 | 3.9 | 3.0 | 2.6 | 2.0 |
EPS |
7.2 | 5.9 | 7.2 | 3.2 | 10.7 | 3.5 | 5.1 | 5.4 | 3.3 | 2.8 | - | - | - | - | - |
EV (Enterprise Value) |
369 B | 261 B | 249 B | 271 B | 247 B | 260 B | 253 B | 217 B | 214 B | 202 B | 222 B | 266 B | 227 B | 203 B | 167 B |
EBITDA per Share |
9.1 | 7.21 | 4.7 | 3.64 | 5.21 | 4.46 | 3.97 | 3.62 | 3.71 | 6.02 | 6.01 | 6.5 | 6.49 | 6.8 | 7.05 |
EV/EBITDA |
20.9 | 17.9 | 25.5 | 34.1 | 16.5 | 14.0 | 15.8 | 13.1 | 14.4 | 11.9 | 12.8 | 13.9 | 11.8 | 9.9 | 7.9 |
PEG |
1.19 | 1.1 | 1.87 | 25.31 | -20.8 | -6.58 | -2.23 | -1.35 | -2.13 | -0.37 | 0.12 | 1.73 | -4.41 | 5.96 | -1.21 |
P/B |
6.8 | 4.8 | 4.5 | 3.7 | 2.9 | 3.5 | 3.6 | 2.1 | 2.2 | 2.1 | 2.2 | 3.0 | 2.4 | 2.1 | 1.8 |
P/CF |
16.5 | 12.1 | 14.5 | 15.5 | 12.9 | 14.5 | 14.8 | 11.5 | 13.0 | 17.9 | 20.0 | 20.2 | 18.2 | 13.3 | 9.7 |
ROE % |
30.00 | 27.06 | 31.77 | 11.70 | - | 14.24 | 21.12 | 16.03 | - | 8.97 | 23.08 | 14.43 | 12.34 | 13.76 | 13.84 |
ROA % |
12.59 | 11.68 | 14.86 | 5.92 | 18.22 | 6.32 | 9.91 | 8.66 | 5.79 | 5.16 | 13.52 | 8.14 | 7.27 | 7.65 | 7.76 |
ROCE % |
21.09 | 19.77 | 13.28 | 8.95 | - | 10.25 | 10.08 | 7.25 | 24.55 | 7.66 | 8.32 | 11.27 | 10.92 | 11.49 | 11.66 |
Current Ratio |
1.7 | 1.8 | 1.9 | 2.0 | 2.1 | 1.8 | 1.9 | 2.2 | 2.3 | 1.1 | 1.0 | 1.4 | 1.2 | 1.2 | 1.0 |
DSO |
- | - | - | - | - | - | 0.0 | 0.0 | - | 75.3 | 76.4 | 69.8 | 78.3 | 79.5 | 76.1 |
DIO |
- | - | - | - | - | - | - | - | - | 130.3 | 130.6 | 128.2 | 135.3 | 131.2 | 114.0 |
DPO |
- | - | - | - | - | - | - | - | - | 101.5 | 118.9 | 114.0 | 114.4 | 108.8 | 95.9 |
Operating Cycle |
- | - | - | - | - | - | 0.0 | 0.0 | - | 205.6 | 207.0 | 198.0 | 213.6 | 210.7 | 190.1 |
Cash Conversion Cycle |
- | - | - | - | - | - | 0.0 | 0.0 | - | 104.1 | 88.1 | 84.0 | 99.2 | 101.9 | 94.2 |
Annual performance
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All numbers in USD currency
Quarterly Financial Ratios Novartis AG
| 2025-Q4 | 2025-Q2 | 2024-Q4 | 2024-Q2 | 2023-Q4 | 2023-Q2 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
7.21 | 2.07 | 5.92 | 1.6 | 7.15 | 1.11 | - | - | 0.77 | - | - | - | 1.29 | - | - | - | 0.82 | - | - | - | 2.94 | - | - | - | 3.34 | - | - | - | 0.84 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA per Share |
9.1 | 2.5 | 7.21 | 1.97 | 4.7 | 1.4 | - | - | 1.01 | - | - | - | 1.54 | - | - | - | 1.02 | - | - | - | 1.14 | - | - | - | 1.04 | - | - | - | 0.96 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROE % |
74.38 | 76.15 | 71.04 | 46.67 | 44.27 | 15.97 | 11.50 | 11.50 | 24.71 | 22.02 | 22.02 | 22.02 | 32.12 | 26.77 | 26.77 | 26.77 | 29.60 | 26.13 | 26.13 | 26.13 | 13.20 | - | - | - | 10.10 | - | - | - | 2.83 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROA % |
31.45 | 33.72 | 31.96 | 21.66 | 20.66 | 7.31 | 5.22 | 5.22 | 11.07 | 9.69 | 9.69 | 9.69 | 15.16 | 12.82 | 12.82 | 12.82 | 1.51 | - | - | - | 5.85 | - | - | - | 5.47 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROCE % |
53.30 | 45.49 | 42.49 | 25.06 | 23.00 | 12.21 | 8.52 | 8.52 | 11.61 | 9.27 | 9.27 | 9.27 | 11.40 | 7.71 | 7.71 | 7.71 | 10.97 | 8.48 | 8.48 | 8.48 | 3.09 | - | - | - | 2.13 | - | - | - | 3.26 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Current Ratio |
1.7 | 1.7 | 1.8 | 1.8 | 1.9 | 1.9 | - | - | 2.0 | - | 2.1 | - | 1.8 | - | 1.8 | - | 1.8 | - | 1.9 | - | 1.8 | - | 2.2 | - | 2.2 | - | 2.3 | - | - | - | 2.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
Multiples are an important financial analysis tool for the company Novartis AG, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.