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Novartis AG

DB:NOTA

Switzerland / Healthcare / Pharmaceuticals

Overview

10Y Historical Financials

Stock Price

101.00 EUR


Key Metrics	Latest
Total Revenue	51.722 B
Adjusted EBITDA	20.662 B
EBITDA Margin	39.9%
Net Profit Margin	26.0%
Total Assets	102.2 B
Total Debt	31.401 B

10Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	12 Months

Revenue	50,387	49,386	43,404	46,099	48,677	49,898	43,974	43,461	46,660	51,722	51,722
% Growth		-2.0%	-12.1%	6.2%	5.6%	2.5%	-11.9%	-1.2%	7.4%	10.8%

Adjusted EBITDA	14,202	14,437	12,871	14,135	13,267	14,932	15,633	13,940	17,518	20,662	20,662
% Margin	28.2%	29.2%	29.7%	30.7%	27.3%	29.9%	35.6%	32.1%	37.5%	39.9%	39.9%

Adjusted EBIT	8,977	9,087	8,944	8,924	9,086	10,152	10,963	9,213	12,642	16,320	16,320
% Margin	17.8%	18.4%	20.6%	19.4%	18.7%	20.3%	24.9%	21.2%	27.1%	31.6%	31.6%

Adjusted Net Income	17,853	7,562	7,882	13,000	11,737	8,071	24,725	7,994	17,124	13,424	13,424
% Margin	35.4%	15.3%	18.2%	28.2%	24.1%	16.2%	56.2%	18.4%	36.7%	26.0%	26.0%

Adjusted Basic EPS	7.43	3.18	3.36	5.60	5.12	3.54	11.03	3.66	8.25	6.65	6.65

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
											Original
USD	Fiscal Year Ending										Latest
(in millions)	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24
	FY - 9	FY - 8	FY - 7	FY - 6	FY - 5	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM

Revenue	50,387	49,386	43,404	46,099	48,677	49,898	43,974	43,461	46,660	51,722	51,722
% Growth	NA	-2.0%	-12.1%	6.2%	5.6%	2.5%	-11.9%	-1.2%	7.4%	10.8%

Cost of Revenue	(17,404)	(17,338)	(13,416)	(14,510)	(14,425)	(15,121)	(11,391)	(11,582)	(12,020)	(12,815)	(12,815)
Gross Profit	32,983	32,048	29,988	31,589	34,252	34,777	32,583	31,879	34,640	38,907	38,907
% Revenue	65.5%	64.9%	69.1%	68.5%	70.4%	69.7%	74.1%	73.4%	74.2%	75.2%	75.2%

Research and Development	(8,935)	(9,039)	(8,389)	(8,489)	(9,402)	(8,980)	(8,641)	(9,172)	(11,371)	(10,022)	(10,022)
Selling and Marketing	(11,772)	0	0	0	0	0	0	0	0	0	0
General and Admin	(2,475)	(14,111)	(12,468)	(13,717)	(14,369)	(14,197)	(12,756)	(12,193)	(12,489)	(12,564)	(12,564)
Other Inc / (Exp)	(1,046)	(418)	611	5,352	(936)	(944)	14,061	(2,914)	(1,429)	(2,243)	(2,243)
Total Operating Exp	(24,228)	(23,568)	(20,246)	(16,854)	(24,707)	(24,121)	(7,336)	(24,279)	(25,289)	(24,829)	(24,829)

Operating Income	8,755	8,480	9,742	14,735	9,545	10,656	25,247	7,600	9,351	14,078	14,078
% Revenue	17.4%	17.2%	22.4%	32.0%	19.6%	21.4%	57.4%	17.5%	20.0%	27.2%	27.2%

Interest Expense	(621)	(663)	(640)	(640)	(605)	(778)	(717)	(423)	(228)	(438)	(438)
Pre-tax Income	8,134	7,817	9,102	14,095	8,940	9,878	24,530	7,177	9,123	13,640	13,640
Earnings of Discontinued Ops.	10,766	0	204	(186)	4,590	0	1,113	906	6,282	0	0
Provision for Taxes	(1,106)	(1,119)	(1,603)	(1,295)	(1,793)	(1,807)	(1,625)	(1,128)	(551)	(1,701)	(1,701)
Net Income to Company	17,794	6,698	7,703	12,614	11,737	8,071	24,018	6,955	14,854	11,939	11,939
% Margin	35.3%	13.6%	17.7%	27.4%	24.1%	16.2%	54.6%	16.0%	31.8%	23.1%	23.1%

Minority Interest in Earnings	(11)	14	0	(3)	(5)	1	3	0	(4)	2	2
Net Income to Stockholders	17,783	6,712	7,703	12,611	11,732	8,072	24,021	6,955	14,850	11,941	11,941

Preferred Dividends	0	0	0	0	0	0	0	0	0	0	0
Other Adj.	(10,766)	0	(204)	186	(4,590)	0	(1,113)	(906)	(6,282)	0	0

Net Income to Common	7,017	6,712	7,499	12,797	7,142	8,072	22,908	6,049	8,568	11,941	11,941
% Margin	13.9%	13.6%	17.3%	27.8%	14.7%	16.2%	52.1%	13.9%	18.4%	23.1%	23.1%

As Reported
Basic EPS (Continuing Ops)	2.92	2.82	3.20	5.52	3.12	3.54	10.21	2.77	4.13	5.92	5.92
Diluted EPS (Continuing Ops)	2.88	2.80	3.17	5.46	3.08	3.52	10.14	2.76	4.10	5.87	5.87

WA Basic Shares Out.	2,402.81	2,378.47	2,345.78	2,319.32	2,290.79	2,277.04	2,242.60	2,181.18	2,076.79	2,018.28	2,018.28
WA Diluted Shares Out.	2,438.00	2,400.00	2,371.00	2,344.00	2,319.00	2,296.00	2,260.00	2,197.00	2,092.00	2,035.00	2,035.00

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	8,134	7,817	9,102	14,095	8,940	9,878	24,530	7,177	9,123	13,640	13,640
Addback: Net Interest Expense	621	663	640	640	605	778	717	423	228	438	438
Addback: Other Non Operating Expenses, Total	142	(561)	(1,040)	(6,332)	(459)	(504)	(15,239)	209	224	235	235
Addback: Depreciation & Amortization	5,225	5,350	3,927	5,211	4,181	4,780	4,670	4,727	4,876	4,342	4,342
Addback: Restructuring Charges	0	0	125	521	0	0	827	1,267	951	364	364
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	8	1	0	0	0	0	(38)	0	105	45	45
Addback: Gain (Loss) On Sale Of Assets	0	(662)	(368)	0	0	0	(724)	0	(225)	(45)	(45)
Addback: Asset Writedown	0	687	809	0	0	0	619	0	3,088	1,428	1,428
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	106	14	0	0	0	170	0	(542)	89	89
Addback: Other Unusual Items	72	1,036	(338)	0	0	0	101	137	(310)	126	126
Adjusted EBITDA	14,202	14,437	12,871	14,135	13,267	14,932	15,633	13,940	17,518	20,662	20,662
% Margin	28.2%	29.2%	29.7%	30.7%	27.3%	29.9%	35.6%	32.1%	37.5%	39.9%	39.9%

Adjusted EBIT	8,977	9,087	8,944	8,924	9,086	10,152	10,963	9,213	12,642	16,320	16,320
% Margin	17.8%	18.4%	20.6%	19.4%	18.7%	20.3%	24.9%	21.2%	27.1%	31.6%	31.6%

Adjusted Net Income Reconciliation
Net Income to Company	17,794	6,698	7,703	12,614	11,737	8,071	24,018	6,955	14,854	11,939	11,939
Addback: Unusual Items	80	1,168	242	521	0	0	955	1,404	3,067	2,007	2,007
Less: Tax Benefit of Unusual Items (26%)	(21)	(304)	(63)	(135)	0	0	(248)	(365)	(797)	(522)	(522)
Adjusted Net Income	17,853	7,562	7,882	13,000	11,737	8,071	24,725	7,994	17,124	13,424	13,424
% Margin	35.4%	15.3%	18.2%	28.2%	24.1%	16.2%	56.2%	18.4%	36.7%	26.0%	26.0%

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Novartis AG

DB:NOTA

Switzerland / Healthcare / Pharmaceuticals

10Y Historical Financials