← Research LibraryThe BriefFY2025 20-F · headline figures audited against SEC data
Net sales grew 8.4% to $54.53B and net income 17.1% to $13.98B as Kisqali and Kesimpta made up for older brands.
The read at a glance✓ Audited against SEC data
- Growth — Net sales +8.4% to $54.53BOK
- Profitability — Operating margin 32.4%, up 346 bps; net income $13.98BOK
- Cash — Free cash flow $17.60B, +8.3%OK
- Balance sheet — Total equity $46.13B, +4.7%Note
- Capital — Dividends $7.82B plus $8.9B of share buybacksNote
- Customers — Three largest customers: 18%, 13% and 7% of net salesWatch
Business
Novartis is a Swiss maker of prescription medicines focused on four areas: cardiovascular, renal and metabolic; immunology; neuroscience; and oncology. It became a pure innovative-medicines company after spinning off its Sandoz generics business in October 2023.
Latest filings
- 6-K · Company announcement (foreign filer)2026-09-08
- 6-K · Company announcement (foreign filer)2026-09-04
- 6-K · Company announcement (foreign filer)2026-09-01
- 6-K · Company announcement (foreign filer)2026-07-21
- 6-K · Company announcement (foreign filer)2026-06-11
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about NOVARTIS AG, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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