Novartis (ADR)
Develops innovative medicines across four therapeutic areas and multiple advanced technology platforms.
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Profile
Develops innovative medicines for cardiovascular-renal-metabolic disease, immunology, neuroscience and oncology using established biologics and chemistry alongside gene and cell, radioligand and xRNA platforms. A decade of separations left innovative medicines as the sole operating focus, with products sold across approximately 120 countries.
Develops and markets innovative medicines across cardiovascular-renal-metabolic disease, immunology, neuroscience and oncology. Its science base combines chemistry and biotherapeutics with gene and cell therapy, radioligand therapy and xRNA platforms.
Products are sold across approximately 120 countries from a Basel headquarters. The operating portfolio was narrowed through the Alcon separation and Sandoz spin-off, leaving innovative medicines as the sole focus; targeted acquisitions add selected therapeutic assets and technology platforms.
Execution centers on a unified research organization and continued portfolio reshaping. The business depends on successful drug development, regulatory approvals, patent protection, and reliable clinical and product-testing data, while promotion and payment practices remain subject to compliance controls.
Company facts
Key statistics
Year to date +11.0% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Mar 26, 2026 | Morgan Stanley | Reiterate | Overweight | $143 | $170 | |
| Jan 6, 2026 | Barclays | Upgrade | Underweight | Equal Weight | ||
| Dec 10, 2025 | HSBC | Target | $112 | |||
| Dec 8, 2025 | JP Morgan | Upgrade | Neutral | Overweight | ||
| Dec 3, 2025 | Morgan Stanley | Target | $143 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $2.17 | $2.41 | +11.1% | $14.07B | $14.41B | +2.4% | −0.51% |
| Apr 28, 2026Q1 FY26 | $2.11 | $1.99 | −5.7% | $13.44B | $13.11B | −2.4% | −1.76% |
| Feb 4, 2026Q4 FY25 | $1.99 | $2.03 | +2.0% | $13.70B | $13.34B | −2.7% | +0.68% |
| Oct 28, 2025Q3 FY25 | $2.26 | $2.25 | −0.4% | $13.64B | $14.36B | +5.3% | −1.32% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $13.62B | $14.84B | $14.36B | $13.33B | $13.52B | $14.42B | |
| Gross profit | $10.39B | $11.51B | $10.82B | $9.79B | $10.07B | $10.74B | |
| Operating income | $4.66B | $4.86B | $4.50B | $3.52B | $4.24B | $4.74B | |
| Net income | $3.61B | $4.04B | $3.93B | $2.41B | $3.16B | $3.27B | |
| Diluted EPS | $1.82 | $2.06 | $2.02 | $1.25 | $1.65 | $1.71 | |
| Gross margin | 76.3% | 77.6% | 75.4% | 73.4% | 74.4% | 74.5% | |
| Operating margin | 34.2% | 32.8% | 31.3% | 26.4% | 31.3% | 32.8% |
Fiscal years (4-quarter sums)FY21 $52.88B · FY22 $49.77B · FY23 $46.66B · FY24 $51.72B · FY25 $56.15B
Balance sheet, Jun 30, 2026Cash & short-term investments $7.69B · Total debt $49.01B · Total assets $122.03B · Shareholders' equity $41.54B
Dividends
Last raised to $4.7403 from $3.994 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 11, 2026 | Mar 11 | Mar 16 | $4.7403 | raised from $3.994 |
| Mar 12, 2025 | Mar 12 | Apr 25 | $3.994 | raised from $3.1986 |
| Mar 7, 2024 | Mar 8 | Apr 19 | $3.1986 | cut from $3.4987 |
| Mar 9, 2023 | Mar 10 | Mar 20 | $3.4987 | raised from $3.3253 |
| Mar 8, 2022 | Mar 9 | Mar 17 | $3.3253 |
Ownership
Shares outstanding 1.90B · Float 1.83B · 96.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 139.60M | 6.40% | 13G | Jul 17, 2025 |
| Fisher Asset Management, LLC | 15.52M | 0.82% | 13F | Aug 4, 2026 |
| Morgan Stanley | 8.73M | 0.46% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 8.12M | 0.43% | 13F | Aug 11, 2026 |
| Primecap Management Co/CA/ | 6.59M | 0.35% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- AstraZeneca (ADR)
Broad rival across oncology, PNH and respiratory immunology
- Eli Lilly
Direct rival in breast cancer and IL-17 immunology markets
- AbbVie
Major immunology rival across psoriatic and axial diseases
- Merck
Oncology rival in melanoma and non-small cell lung cancer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Median | 55.7 | 17.0 | 6.3 | +8.3% |