# Novartis AG share price today (Novartis AG, NVS)

> Novartis AG's results are improving, and its P/E is near the top of its own history, higher than 99% of past readings. NVS · Healthcare · Drug Manufacturers - General · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/nvs

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## Key numbers

- Business trend: Slowing from a peak, from the last 12 quarters
- Price: $159.26 (+28.7% in a year)
- P/E: 29.9× (higher than 99% of the last 4.6 years)
- Revenue (Sep 2026): $15.0 B (+4.7% on a year ago)
- Profit (Sep 2026): $1.2 B (−69.6% on a year ago)
- Operating margin: 34.3% (+3.4 points on a year ago)
- ROE: 30%, FY25
- ROIC: 19.3%, against a 6.2% cost of capital: +13.1 points

The main question: results are strong, and the P/E is higher than 99% of its own history. ## What is the Novartis AG share price today? Novartis AG's share price was $159.26 at the close on 3 November 2026. It has been rising for 2 weeks. That is 4.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between $126 and $169, and at that close it sat 78% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 2 weeks in a row. Over the last 10 years the share price moved +94% while the S&P 500 moved +255%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Novartis AG pay? Novartis AG has 3 quarters of declared dividends on file, too few for a 12-month total. The most recent declaration was $4.67 for Dec 2025. Novartis AG declared a dividend in 3 of the last 12 reported quarters, most recently $4.67 for Dec 2025. That is fewer than four quarters, so no 12-month total is shown. ## Which stock lists is Novartis AG on? Novartis AG is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Novartis AG profitable? Novartis AG earned $1.2 B of net profit in the Sep 2026 quarter, −69.6% on the same quarter a year earlier. Full-year FY25 profit was $14.0 B. Over 4 years profit has grown −12.7% a year on average. That is 8.0% of the quarter's revenue. The same quarter a year earlier earned $3.9 B. For the full year, FY25 profit was $14.0 B (+17.0% on the year before). Why profit moved: revenue changed +4.7% on a year earlier and the margin moved +3.4 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed −29.0% and revenue +1.8%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Novartis AG make, and is it growing? Novartis AG reported $15.0 B of revenue in the Sep 2026 quarter, +4.7% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown 6.5% a year on average. The last full year, FY25, came in at $56.7 B. The last four reported quarters add to $57.4 B. FY25 revenue was $56.7 B, +9.6% on the year before. Recent pace: the last four quarters grew +1.8% on average, against 6.5% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +1.8%, against +7.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −30.4%, against −24.6% a year (rolling over). ## How much of every $100 of sales does Novartis AG keep? Novartis AG's operating margin was 34.3% in the Sep 2026 quarter, 3.4 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 5 years it has been between 21.2% and 33.5%. The latest quarter is above every full year in that period. Across 5 years it has been between 21.2% and 33.5%, and FY25's 33.5% is the highest of them. Why the margin moved: operating margin changed +3.4 percentage points on the year while gross margin changed +0.8 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Novartis AG's profit turning into cash? Over the last 3 years, 126% of Novartis AG's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $19.1 B of operating cash against $14.0 B of profit. After $1.5 B of spending on assets, $17.6 B was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Novartis AG's cash go? Novartis AG does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $4.0 B on assets over the last 3 years. Averaged over those years that is 2.3% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $4.0 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Novartis AG's P/E ratio, and how does it compare with its own history? Novartis AG's P/E is 29.9×, about the highest it has ever been. Its usual P/E (the middle reading) is 17.5×, over 4.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +21.8% while the price moved +28.7%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved +19.7% a year; about +12.0% a year came from earnings growth and about +7.7 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Novartis AG business getting better or worse? Novartis AG's business is slowing from a peak. Profit and EPS growth have slowed sharply (profit growth from +111.4% at its peak to −30.4% now), while ROCE is still 22.9%. This is based on 12 quarters of 4 measures. Why it matters: slowing from a peak is where good stories often end quietly. ## How much does Novartis AG earn on its capital? Novartis AG earned a ROE of 30% in FY25. That is up from a low of 12% in FY22. Its return on capital used (ROIC) is 13.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 24.6% net margin and 0.51× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 24.6% net margin × 0.51× asset turnover × 2.38× leverage (assets divided by equity) ≈ 29.9% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 19.3% − 6.2% = +13.1 percentage points. The 6.2% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. A gap this wide means each dollar put back into the business creates more than a dollar of value. The 19.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 24.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Novartis AG have too much debt? Novartis AG has total debt of $48.3 B against shareholder equity of $37.6 B as of Sep 2026, so its debt is 1.29× its equity. Year by year, that ratio went from 0.46 in FY21 to 0.76 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Novartis AG shareholding pattern? We have no ownership or short-position figures for Novartis AG, so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 3.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. ## How far is Novartis AG from balance-sheet trouble? For Novartis AG, the Z-score is 3.56. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 3.56 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Novartis AG rank in its industry? 46.0 out of 100, rank 12 of 16 in Drug Manufacturers - General, with 85% of the evidence available. Novartis AG scores 46.0 out of 100 against the 16 companies it is compared with in Drug Manufacturers - General, ranking 12. A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. The four parts add up to the total exactly: 14.4 + 18.4 + 6.4 + 6.8 = 46. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Novartis AG compared with? Novartis AG ranks 12 of 16 Drug Manufacturers - General companies on the 4-Factor Sector Score, with 46.0 out of 100. 1. [Eli Lilly and Company](https://www.sectoralpha.in/us/stocks/lly) LLY · turning · Sector-leading setup · 85% evidence 83.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.0/35 · Revenue 45.5% · Profit 49.8% · Operating margin change 5.4 points · 95% evidence Capital efficiency 21.4/25 · ROCE 41.7% · Operating margin 53.7% · 76% evidence Valuation 11.9/20 · P/E 37.4× · PEG 0.74 · 65% evidence Relative strength 18.4/20 · Lead over its industry 15.6% · Lead over S&P 500 23.1% · 1 year 52.5% · 100% evidence · 3 of 12 weeks ahead Exact sum: 32 + 21.4 + 11.9 + 18.4 = 83.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [AbbVie Inc.](https://www.sectoralpha.in/us/stocks/abbv) ABBV · breaking out · Most evidence points up · 85% evidence 69.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.8/35 · Revenue 10.7% · Profit 100% · Operating margin change 1.8 points · 95% evidence Capital efficiency 19.4/25 · ROCE 24.5% · Operating margin 37.3% · 76% evidence Valuation 4.4/20 · P/E 44.8× · PEG 2.67 · 65% evidence Relative strength 16.4/20 · Lead over its industry 8.4% · Lead over S&P 500 15.4% · 1 year 30.5% · 100% evidence · 10 of 12 weeks ahead Exact sum: 28.8 + 19.4 + 4.4 + 16.4 = 69 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Amgen Inc.](https://www.sectoralpha.in/us/stocks/amgn) AMGN · leader · Most evidence points up · 81% evidence 67.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.2/35 · Revenue 9.1% · Profit 32.1% · Operating margin change 2.9 points · 83% evidence Capital efficiency 15.2/25 · ROCE 18.2% · Operating margin 35.5% · 76% evidence Valuation 13.1/20 · P/E 22.4× · PEG 0.71 · 65% evidence Relative strength 15.4/20 · Lead over its industry 12.1% · Lead over S&P 500 19.3% · 1 year 44.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.2 + 15.2 + 13.1 + 15.4 = 67.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Gilead Sciences, Inc.](https://www.sectoralpha.in/us/stocks/gild) GILD · leader · Evidence leans up · 75% evidence 63.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.6/35 · Revenue 6.5% · Profit -147.6% · Operating margin change -1.8 points · 95% evidence Capital efficiency 19.4/25 · ROCE 30.3% · Operating margin 43.4% · 76% evidence Valuation 11.5/20 · P/E -47.8× · PEG n/a · 15% evidence Relative strength 17.6/20 · Lead over its industry 9.1% · Lead over S&P 500 16% · 1 year 40.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 14.6 + 19.4 + 11.5 + 17.6 = 63.1 · What this means: Relative strength against the index is 16%, and revenue and profit growth are weak. 5. [GSK plc](https://www.sectoralpha.in/us/stocks/gsk) GSK · basing · Evidence leans up · 81% evidence 60.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 5% · Profit 32.1% · Operating margin change 0.9 points · 83% evidence Capital efficiency 19.8/25 · ROCE 25.1% · Operating margin 30.9% · 76% evidence Valuation 14.5/20 · P/E 16.4× · PEG 0.39 · 65% evidence Relative strength 0.9/20 · Lead over its industry -15.7% · Lead over S&P 500 -10.3% · 1 year 4.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25 + 19.8 + 14.5 + 0.9 = 60.2 · What this means: Earnings are strong; relative strength in its sector is -15.7% and the one-year return is 4.4%. 6. [Bristol-Myers Squibb Company](https://www.sectoralpha.in/us/stocks/bmy) BMY · quiet · Evidence leans up · 81% evidence 59.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 3.1% · Profit 83.8% · Operating margin change 0.7 points · 83% evidence Capital efficiency 18.1/25 · ROCE 22.7% · Operating margin 34.4% · 76% evidence Valuation 14.3/20 · P/E 12.7× · PEG 0.5 · 65% evidence Relative strength 4.0/20 · Lead over its industry -5.7% · Lead over S&P 500 0.4% · 1 year 32.2% · 100% evidence · 5 of 12 weeks ahead Exact sum: 22.6 + 18.1 + 14.3 + 4 = 59 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [AstraZeneca PLC](https://www.sectoralpha.in/us/stocks/azn) AZN · turning · Evidence leans up · 85% evidence 50.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.2/35 · Revenue 7.3% · Profit 17.4% · Operating margin change 3 points · 95% evidence Capital efficiency 14.2/25 · ROCE 17.6% · Operating margin 27.1% · 76% evidence Valuation 10.0/20 · P/E 22.9× · PEG 1.33 · 65% evidence Relative strength 7.3/20 · Lead over its industry -9.4% · Lead over S&P 500 -3.6% · 1 year 10.7% · 100% evidence · 2 of 12 weeks ahead Exact sum: 19.2 + 14.2 + 10 + 7.3 = 50.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Sanofi](https://www.sectoralpha.in/us/stocks/sny) SNY · turning · Evidence leans down · 66% evidence 49.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.6/35 · Revenue n/a · Profit n/a · Operating margin change 5.1 points · 39% evidence Capital efficiency 9.2/25 · ROCE 10.7% · Operating margin 21% · 76% evidence Valuation 14.5/20 · P/E 22.8× · PEG 0.33 · 65% evidence Relative strength 5.4/20 · Lead over its industry -10.8% · Lead over S&P 500 -5% · 1 year -8.7% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.6 + 9.2 + 14.5 + 5.4 = 49.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Organon & Co.](https://www.sectoralpha.in/us/stocks/ogn) OGN · turning · Evidence leans down · 81% evidence 49.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.3/35 · Revenue -2.5% · Profit -70.1% · Operating margin change -0.9 points · 83% evidence Capital efficiency 10.8/25 · ROCE 11.5% · Operating margin 20.7% · 76% evidence Valuation 15.5/20 · P/E 17× · PEG 0.17 · 65% evidence Relative strength 13.9/20 · Lead over its industry 15.2% · Lead over S&P 500 23% · 1 year 104.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 9.3 + 10.8 + 15.5 + 13.9 = 49.5 · What this means: Relative strength against the index is 23%, and revenue and profit growth are weak. 10. [Biogen Inc.](https://www.sectoralpha.in/us/stocks/biib) BIIB · breaking out · Evidence leans down · 81% evidence 46.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.9/35 · Revenue 0.3% · Profit -45.4% · Operating margin change -9.2 points · 83% evidence Capital efficiency 7.9/25 · ROCE 8.9% · Operating margin 25.1% · 76% evidence Valuation 13.3/20 · P/E 38.2× · PEG 0.38 · 65% evidence Relative strength 17.5/20 · Lead over its industry 12.8% · Lead over S&P 500 20.1% · 1 year 60.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 7.9 + 7.9 + 13.3 + 17.5 = 46.6 · What this means: Relative strength against the index is 20.1%, and revenue and profit growth are weak. 11. [Johnson & Johnson](https://www.sectoralpha.in/us/stocks/jnj) JNJ · turning · Evidence leans down · 75% evidence 46.3 out of 100 Growth Capital Valuation Relative
12. Novartis AG this page NVS · turning · Evidence leans down · 85% evidence 46.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.4/35 · Revenue 1.8% · Profit -30.4% · Operating margin change 3.4 points · 95% evidence Capital efficiency 18.4/25 · ROCE 21.6% · Operating margin 34.3% · 76% evidence Valuation 6.4/20 · P/E 27.2× · PEG 2.3 · 65% evidence Relative strength 6.8/20 · Lead over its industry -4.3% · Lead over S&P 500 1.8% · 1 year 26% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.4 + 18.4 + 6.4 + 6.8 = 46 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 13. [Pfizer Inc.](https://www.sectoralpha.in/us/stocks/pfe) PFE · leader · Evidence leans down · 71% evidence 44.5 out of 100 Growth Capital Valuation Relative
14. [Merck & Co., Inc.](https://www.sectoralpha.in/us/stocks/mrk) MRK · leader · Evidence leans down · 85% evidence 41.9 out of 100 Growth Capital Valuation Relative
15. [Grifols, S.A.](https://www.sectoralpha.in/us/stocks/grfs) GRFS · turning · Evidence leans down · 71% evidence 41.3 out of 100 Growth Capital Valuation Relative
16. [Amarin Corporation plc](https://www.sectoralpha.in/us/stocks/amrn) AMRN · basing · Most evidence points down · 64% evidence 28.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Drug Manufacturers - General](https://www.sectoralpha.in/us/sectors/drug-manufacturers-general), all 16 compared on one page. ## Which companies are close to Novartis AG in size? Novartis AG is the 5th largest of 17 Drug Manufacturers - General companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Johnson & Johnson, AbbVie Inc. and Merck & Co., Inc. Just below it: AstraZeneca PLC, Amgen Inc. and Gilead Sciences, Inc. ### Drug Manufacturers - General companies close in size

1. [Johnson & Johnson](https://www.sectoralpha.in/us/stocks/jnj) $640.8 billion
2. [AbbVie Inc.](https://www.sectoralpha.in/us/stocks/abbv) $505.4 billion
3. [Merck & Co., Inc.](https://www.sectoralpha.in/us/stocks/mrk) $356.9 billion
4. Novartis AG $302.6 billion
5. [AstraZeneca PLC](https://www.sectoralpha.in/us/stocks/azn) $282.2 billion
6. [Amgen Inc.](https://www.sectoralpha.in/us/stocks/amgn) $249.4 billion
7. [Gilead Sciences, Inc.](https://www.sectoralpha.in/us/stocks/gild) $207.7 billion

[All 17 Drug Manufacturers - General companies, largest first](https://www.sectoralpha.in/us/sectors/drug-manufacturers-general#all-companies)

### Companies close in size in other industries

1. [Philip Morris International Inc.](https://www.sectoralpha.in/us/stocks/pm) $324.7 billion · Tobacco
2. [Intel Corporation](https://www.sectoralpha.in/us/stocks/intc) $318.7 billion · Semiconductors
3. Novartis AG $304.6 billion
4. [Applied Materials, Inc.](https://www.sectoralpha.in/us/stocks/amat) $297.2 billion · Semiconductor Equipment & Materials
5. [HSBC Holdings plc](https://www.sectoralpha.in/us/stocks/hsbc) $294.7 billion · Banks - Diversified

## What else do people ask about Novartis AG? ### What is Novartis AG's stock price today? Novartis AG's stock price is $159.26, +28.7% over the past year. The whole company is worth $303 B on the market. In the last 52 weeks it traded between $126 to $169; today it is 78% of the way up from the low, 4.8% above its 200-day average (as of 3 November 2026). ### What were Novartis AG's latest quarterly results? Novartis AG reported revenue of $15.0 B and net profit of $1.2 B for the Sep 2026 quarter. Revenue rose 4.7% and profit fell 69.6% compared with a year earlier. Earnings per share were $0.63. The operating margin was 34.3%, 3.4 percentage points higher than a year earlier (as of 3 November 2026). ### What is Novartis AG's market cap? Novartis AG's market capitalisation is $303 B at a stock price of $159.26. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Novartis AG performing? Novartis AG's share price has been rising for 2 weeks. In its latest quarter, revenue rose 4.7% and profit fell 69.6% compared with a year earlier. Over the past 13 weeks it has done better than the S&P 500, for 2 weeks running (as of 3 November 2026). ### Will Novartis AG's stock price go up? This page does not forecast Novartis AG's stock price. What it shows instead: the stock price is $159.26, and it has been rising for 2 weeks. Its P/E of 29.9× is higher than 99% of its own last 5 years (as of 3 November 2026). ### Where is Novartis AG in its business cycle? Novartis AG's FY25 operating margin was 33.5%, against a 5-year range of 21.2% to 33.5%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 34.3%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Novartis AG story? The main question: results are strong, and the P/E is higher than 99% of its own history. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Novartis AG a stock worth studying right now? What the numbers show: Novartis AG's results are improving, and its P/E is near the top of its own history, higher than 99% of past readings. The main open question: whether earnings grow enough to match the multiple. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.