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Novartis stock: key metrics
NOVN.SWNovartis had an operating margin of 31.2% and a return on invested capital (ROIC) of 22.7% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 73.2% | 21.8% | 20.4% |
| 2007 | 71.7% | 17.4% | no data |
| 2008 | 73.1% | 21.1% | 19.2% |
| 2009 | 73.0% | 22.1% | 18.6% |
| 2010 | 71.9% | 22.4% | 19.0% |
| 2011 | 68.0% | 18.2% | 15.1% |
| 2012 | 69.5% | 22.1% | 17.8% |
| 2013 | 68.6% | 20.8% | 17.4% |
| 2014 | 67.7% | 20.7% | 19.0% |
| 2015 | 65.5% | 17.8% | no data |
| 2016 | 64.6% | 16.7% | 13.6% |
| 2017 | 68.6% | 20.0% | 17.7% |
| 2018 | 68.5% | 18.2% | 27.4% |
| 2019 | 70.4% | 18.7% | no data |
| 2020 | 69.7% | 20.3% | 16.2% |
| 2021 | 73.3% | 22.9% | 54.6% |
| 2022 | 73.4% | 18.3% | 16.0% |
| 2023 | 73.3% | 20.9% | no data |
| 2024 | 75.2% | 28.1% | 23.1% |
| 2025 | 75.0% | 31.2% | 25.6% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 17.5% | 16.1% | 10.6% |
| 2007 | no data | 14.4% | no data |
| 2008 | 16.3% | 16.5% | 10.5% |
| 2009 | 14.6% | 16.2% | 8.8% |
| 2010 | 15.5% | 14.2% | 7.9% |
| 2011 | 13.6% | 11.2% | 7.6% |
| 2012 | 13.4% | 12.1% | 7.5% |
| 2013 | 12.3% | 11.5% | 7.3% |
| 2014 | 14.4% | 12.1% | 8.1% |
| 2015 | no data | 9.1% | no data |
| 2016 | 9.0% | 7.7% | 5.2% |
| 2017 | 10.4% | 7.8% | 5.8% |
| 2018 | 16.0% | 8.1% | 8.7% |
| 2019 | no data | 8.6% | no data |
| 2020 | 14.3% | 10.6% | 6.3% |
| 2021 | 35.5% | 12.2% | 18.2% |
| 2022 | 11.7% | 9.6% | 5.9% |
| 2023 | no data | 14.4% | no data |
| 2024 | 27.1% | 21.0% | 11.7% |
| 2025 | 31.8% | 22.7% | 12.7% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CHF 0.8331)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 25 Apr 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.