Novartis AG
NVSEF
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+ FollowMarket Cap$305.1B
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Earnings Call Q4 2025
February 4, 2026 - AI Summary
Financial Performance and Growth: Novartis achieved high single-digit growth in 2025 with sales increasing by 8%, and core operating income (Core OpInc) rising by 14%, reaching a core margin of 40.1%, which was achieved two years earlier than planned. For Q4 specifically, however, sales declined by 1% partly due to U.S. generic entries impacting major products like Entresto, while Core OpInc increased by 1%.
Pipeline Highlights and Growth Drivers: Novartis showcased strong performance from key brands with Kisqali up 57% to $4.8 billion, Kesimpta up 36% to $4.4 billion, and Pluvicto achieving dynamic performance with a 42% growth, now at $2 billion globally. Continued investments in pipeline drugs like remibrutinib for MS and pelabresib for myelofibrosis are expected to bolster future growth.
Challenges from Generics: The entry of generics for major products in the U.S., particularly Entresto, Promacta, and Tasigna, presents a significant challenge. This trend is expected to impact sales negatively in the first half of 2026, leading to a projected low single-digit decline in sales and low double-digit decline in Core OpInc.
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$176.45
11.5% upside
Current Fair Value
11.5% upsideUndervalued by 11.5% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $305.10 Billion |
|---|---|
| Enterprise Value | $345.44 Billion |
| Dividend Yield | $4.74 (2.89%) |
| Earnings per Share | $7.56 |
| Beta | 0.49 |
| Outstanding Shares | 1,909,000,000 |
Return
| Return on Equity | 34.84% |
|---|---|
| Return on Assets | 11.32% |
| Return on Invested Capital | 19.82% |
Valuation & Multiples
| P/E Ratio | 22.82 |
|---|---|
| PEG | -147.33 |
| Price to Sales | 5.46 |
| Price to Book Ratio | 7.91 |
| Enterprise Value to Revenue | 6.22 |
| Enterprise Value to EBIT | 19.89 |
| Enterprise Value to Net Income | 25 |
| Total Debt to Enterprise | 0.14 |
| Debt to Equity | 1.22 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
April 28, 2026
EPS Estimate
$2.10
Average shareholder expectationRevenue Estimate
$13.46 B
Average shareholder expectationNext Earnings Call
Expected Date
July 21, 2026
EPS Estimate
$2.17
Average shareholder expectationRevenue Estimate
$14.19 B
Average shareholder expectationInstitutional Sentiment (Put/Call)
No data available for the latest quarter.
Institutional Ownership
No data available for the latest quarter.
ESG Score
No data
About Novartis AG
CEO: Vasant Narasimhan Novartis AG is a holding company, which engages in the development, manufacture, and marketing of healthcare products. It operates through the following segments: Innovative Medicines, Sandoz, and Corporate. The Innovative Medicines segm...