Novartis quarterly financial results

Q1 2025 results - Tuesday, April 29, 2025

Media release: English (PDF 0.3 MB) | Deutsch (PDF 0.3 MB)

Interim financial report (PDF 0.3 MB)

Watch the webcast
14:00 CEST | 13:00 BST | 08:00 EDT

Download the interactive presentation (PDF 3.7 MB)

Download 2025 epidemiology data (PDF 2.0 MB)

Key figures¹	Q1 2025 (USD m)	Q1 2024 (USD m)	% change (USD/cc)
Net sales	13,233	11,829	12 (cc: 15)
Operating income	4,663	3,373	38 (cc: 44)
Net income	3,609	2,688	34 (cc: 37)
EPS (USD)	1.83	1.31	40 (cc: 42)
Free cash flow	3,391	2,038	66
Core
Operating income	5,575	4,537	23 (cc: 27)
Net income	4,482	3,681	22 (cc: 26)
EPS (USD)	2.28	1.80	27 (cc: 31)

Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 31 of the Condensed Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.

Annual results and Q4 2024
Friday, January 31, 2025

Media release: English (PDF 0.4 MB) | Deutsch (PDF 0.4 MB)

Condensed financial report (PDF 0.5 MB)

Quarterly impact and sustainability update (ESG):
Novartis Q4 2024 impact and sustainability update (PDF 1.0 MB)

Watch the webcast

Download the presentation (PDF 4.7 MB)

Read the transcript

Download the podcast (MP3 30 MB)

Key figures¹	Continuing operations²
	Q4 2024 (USD m)	Q4 2023 (USD m)	% change (USD/cc)
Net sales	13,153	11,423	15 (cc: 16)
Operating income	3,530	2,582	37 (cc: 39)
Net income	2,820	2,638	7 (cc: 6)
EPS (USD)	1.42	1.29	10 (cc: 10)
Free cash flow	3,635	2,141	70
Core
Operating income	4,859	3,821	27 (cc: 29)
Net income	3,933	3,126	26 (cc: 29)
EPS (USD)	1.98	1.53	29 (cc: 33)

Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 47 of the Condensed Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.
As defined on page 35 of the Condensed Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities, and Discontinued operations include operational results from the Sandoz business.

Q3 2024 results - Tuesday, October 29, 2024

Media release: English (PDF 0.4 MB) | Deutsch (PDF 0.5 MB)

Interim financial report (PDF 0.6 MB)

Quarterly impact and sustainability update (ESG):
Novartis Q3 2024 impact and sustainability update (PDF 0.6 MB)

Watch the webcast

Download the presentation (PDF 6.5 MB)

Read the transcript

Download the podcast (MP3 31 MB)

Key figures¹	Continuing operations²
	Q3 2024 (USD m)	Q3 2023 (USD m)	% change (USD/cc)
Net sales	12,823	11,782	9 (cc: 10)
Operating income	3,627	1,762	106 (cc: 123)
Net income	3,185	1,513	111 (cc: 121)
EPS (USD)	1.58	0.73	116 (cc: 127)
Free cash flow	5,965	5,043	18
Core
Operating income	5,145	4,405	17 (cc: 20)
Net income	4,133	3,585	15 (cc: 17)
EPS (USD)	2.06	1.74	18 (cc: 20)

Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 46 of the Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.
As defined on page 35 of the Interim Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities and Discontinued operations include operational results from the Sandoz business.

Q2 2024 results - Thursday, July 18, 2024

Media release:
English (PDF 0.5 MB) | Deutsch (PDF 0.5 MB) | Français (PDF 0.5 MB)

Interim financial report (PDF 0.5 MB)

Quarterly impact and sustainability update (ESG):
Novartis Q2 2024 impact and sustainability update (PDF 0.9 MB)

Watch the webcast

Download the podcast (MP3 34 MB)

Download the interactive presentation (PDF 5.5 MB)

Read the transcript

Key figures¹	Continuing operations²
	Q2 2024 (USD m)	Q2 2023 (USD m)	% change (USD/cc)
Net sales	12,512	11,437	9 (cc: 11)
Operating income	4,014	2,807	43 (cc: 47)
Net income	3,246	2,271	43 (cc: 49)
EPS (USD)	1.60	1.09	47 (cc: 52)
Free cash flow	4,615	3,292	40
Core
Operating income	4,953	4,240	17 (cc: 19)
Net income	4,008	3,502	14 (cc: 18)
EPS (USD)	1.97	1.69	17 (cc: 21)

Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 43 of the Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.
As defined on page 33 of the Interim Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities and Discontinued operations include operational results from the Sandoz business.

2024 quarterly results

Q1 2024 media release (PDF 0.4 MB)

Q1 2024 financial report (PDF 0.5 MB)

2023 quarterly results

Q4 2023 media release (PDF 0.3 MB)

Q4 2023 financial report (PDF 0.6 MB)

Q3 2023 media release (PDF 0.4 MB)

Q3 2023 financial report (PDF 0.6 MB)

Q2 2023 media release (PDF 0.3 MB)

Q2 2023 financial report (PDF 0.5 MB)

Q1 2023 media release (PDF 0.3 MB)

Q1 2023 financial report (PDF 0.3 MB)

2022 quarterly results

Q4 2022 media release (PDF 0.3 MB)

Q4 2022 financial report (PDF 0.5 MB)

Q3 2022 media release (PDF 0.3 MB)

Q3 2022 financial report (PDF 0.5 MB)

Q2 2022 media release (PDF 0.2 MB)

Q2 2022 financial report (PDF 0.5 MB)

Q1 2022 media release (PDF 0.2 MB)

Q1 2022 financial report (PDF 0.4 MB)

2021 quarterly results

Q4 2021 media release (PDF 0.3 MB)

Q4 2021 financial report (PDF 0.5 MB)

Reconciliation of 2021 results excluding Roche investment impacts (PDF 0.5 MB)

Q3 2021 media release (PDF 0.3 MB)

Q3 2021 financial report (PDF 0.5 MB)

Q2 2021 media release (PDF 0.4 MB)

Q2 2021 financial report (PDF 0.5 MB)

Q1 2021 media release (PDF 0.2 MB)

Q1 2021 financial report (PDF 0.4 MB)

2020 quarterly results

Q4 2020 media release (PDF 0.2 MB)

Q4 2020 financial report (PDF 0.9 MB)

Q3 2020 media release (PDF 0.2 MB)

Q3 2020 financial report (PDF 0.8 MB)

Q2 2020 media release (PDF 0.1 MB)

Q2 2020 financial report (PDF 0.8 MB)

Q1 2020 media release (PDF 0.2 MB)

Q1 2020 financial report (PDF 0.6 MB)

Disclaimer: The information in the presentations on these pages was factually accurate on the date of publication. These presentations remain on the Novartis website for historical purposes only. Novartis assumes no responsibility to update the information to reflect subsequent developments. Readers should not rely upon the information in these pages as current or accurate after their publication dates.

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