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NVS · NYSE

Novartis AG

Drug Manufacturers - General · Switzerland

USD 140.37-0.4% daily changeQuote 2026-09-18 · USD
Market cap (USD)
US$266.80B
Trailing P/E
21.17x
Forward P/E
14.27x
Quarterly revenue growth
0.8%
Trailing net margin
22.5%
Indicated dividend yield
3.4%

Snapshot 2026-09-20 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-10-27 (provider estimate, not issuer-confirmed).

Company background

Novartis AG researches, develops, manufactures, distributes, markets, and sells pharmaceutical medicines in Switzerland and internationally. The company offers Entresto, an angiotensin receptorneprilysin inhibitor to treat symptomatic chronic heart failure with reduced ejection fraction (HFrEF); Cosentyx to treat plaque psoriasis, pso riatic arthritis, ankylosing spondylitis, and nonradiographic axial spondy loarthritis; Kisqali, a selective oral cyclin dependent inhibitor of kinases 4 and 6 (CDK4/6); Promacta/Revolade to treat immune thrombocytopenia (ITP), thrombocytopenia, and patients with severe aplastic anemia (SAA); Tafinlar+Mekinist, an oral combination therapy to treat patients with certain types of cancers; and Jakavi for the treatment of myelofibrosis, polycythemia vera, and acute or chronic graftversushost disease (GvHD). It also provides Tasigna to treat philadelphia chromosomepositive chronic myeloid leukemia in the chronic and/or accelerated phase; Xolair for the treatment of allergic asthma and nasal polyps or severe chronic rhinosi nusitis with nasal polyps; Ilaris to treat fever syndromes, Still's disease, and acute gouty arthritis; Pluvicto to treat prostatespecific membrane anti genpositive metastatic castrationresistant prostate cancer; Sandostatin SC and Sandostatin LAR to treat acromegaly carcinoid tumors and other types of functional gastro intestinal and pancreatic neuroendocrine tumors; Zolgensma for the treatment of genetic root cause of spinal muscular atrophy; Lucentis; Leqvio to reduce LDL cholesterol; Lutathera; Scemblix; and Fabhalta. The company focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, oncology, and hematology. It has a license and collaboration agreement with Alnylam Pharmaceuticals, Inc. to develop, manufacture, and commercialize Leqvio (inclisiran), a therapy to reduce LDL cholesterol. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.

Company website

Q2 2026

Go beyond the headline.

Novartis Stock (NVS): It Beat Q2 AND Returned to Growth — So Why We Say HOLD

Published 2026-07-21

Comparable businesses

NVS peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricNVSNovartis AGSnapshot 2026-09-20Financial period: 2026-06-30AZNAstraZeneca PLCSnapshot 2026-09-20Financial period: 2026-06-30NVONovo Nordisk A/SSnapshot 2026-09-20Financial period: 2026-06-30Peer medianSimilar-size peers only
Market capMarket value, converted to USDUS$266.80BUS$257.57BUS$191.03BUS$224.30Bn=2
Forward P/EProvider forward earnings estimate14.27x14.34x12.86x13.60xn=2
EV / EBITDAEnterprise value / trailing EBITDA13.36x14.32x
Revenue growthLatest quarter vs prior-year quarter0.8%6.4%2.1%4.2%n=2
Operating marginLatest reported quarter34.6%23.5%42.5%33.0%n=2
Free cash flow yieldTrailing cash flow / market cap4.5%1.9%
Net debt / EBITDANet debt / trailing EBITDA1.79x1.38x0.55x0.96xn=2
Debt / equityTotal debt / positive book equity1.17x0.64x0.63x0.64xn=2
Trailing P/ETrailing twelve-month earnings21.17x24.86x10.73x17.80xn=2
Price / bookPrice / positive book equity per share6.42x5.12x5.60x5.36xn=2
EV / salesEnterprise value / trailing revenue5.44x4.64x
Earnings growthLatest quarter vs prior-year quarter-17.0%2.5%-20.6%-9.0%n=2
Gross marginTrailing twelve months75.0%81.7%82.0%81.8%n=2
Net marginTrailing twelve months22.5%17.0%35.3%26.2%n=2
Return on equityProvider trailing return; positive equity only30.3%22.0%59.8%40.9%n=2
Free cash flow marginTrailing free cash flow / revenue21.0%8.0%11.4%9.7%n=2
Dividend yieldIndicated annual dividend / price3.4%1.9%4.2%3.0%n=2
Earnings payoutProvider trailing dividend payout71.6%47.4%44.5%45.9%n=2
Current ratioCurrent assets / current liabilities0.86x0.89x0.87x0.88xn=2
BetaProvider historical market sensitivity0.490.200.340.27n=2

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Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

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Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for NVS

All available reporting periods
Q2 20262026-07-21

Reported figures

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