Novartis AG (NVS) Financials
Key financial figures for Novartis AG (Q2 2026).
Novartis returns to sales growth in Q2 2026 with net sales up 3% (+1% cc) to USD 14.4 billion as growth products outrun a steepening Entresto patent-cliff decline; FY2026 guidance reaffirmed. Net sales of USD 14.4 billion, up 3% reported and 1% cc year over year, the first quarter of positive reported growth since the multi-product patent cliff began. Core operating income held roughly flat cc at USD 5.9 billion; core EPS of USD 2.41 was also roughly flat cc (-1%). Reported net income fell 19% YoY to USD 3.3 billion and free cash flow fell 12% YoY to USD 5.6 billion on one-off items and cliff mix, even as core (non-GAAP) metrics stabilized. On the outlook: FY2026 net sales growth guidance reaffirmed at low single-digit cc; core operating income guided to decline low single-digit cc, reaffirmed for a second straight quarter after Q1 and Q2 2026. Figures are for Q2 2026, as Novartis AG reported them.
- Revenue
- $14.4B
- Net Income
- $3.3B
- EPS
- $1.71
- Total Assets
- $122.0B
- Operating Cash Flow
- $5.9B
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $14.4B | $3.3B | $1.71 | 32.84% | $5.6B |
| Q1 FY2026 | $13.5B | $3.2B | $1.65 | 31.31% | $2.9B |
| Q4 FY2025 | $13.3B | $2.4B | $1.25 | 26.4% | $1.6B |
| Q3 FY2025 | $14.4B | $3.9B | $2.02 | 31.35% | $5.7B |
| Q2 FY2025 | $14.8B | $4.0B | $2.06 | 32.79% | $6.1B |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $54.8B | $14.1B | $7.19 | 31.15% | $17.7B |
| FY2024 | $51.7B | $11.9B | $5.87 | 28.12% | $13.8B |
| FY2023 | $46.7B | $14.8B | $7.10 | 20.94% | $11.7B |
Frequently asked questions
What was Novartis AG's revenue last quarter?
Novartis AG reported revenue of $14.42 billion for Q2 FY2026, down 2.8% from the same period a year earlier.
Is Novartis AG profitable?
Yes. Novartis AG reported net income of $3.27 billion for Q2 FY2026, a net margin of 22.65% on revenue.
How has Novartis AG's margin trended?
Operating margin was 32.84% in Q2 FY2026. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Novartis AG generate?
Novartis AG generated free cash flow of $5.57 billion in Q2 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Novartis AG on SentiSense, with up to forty quarters and twenty fiscal years of history.