Novartis AG (NVS) P/E Ratio History
Historical price-to-earnings valuation from 2003 to 2026
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NVS Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Novartis AG (NVS) trades at a price-to-earnings ratio of 20.2x, with a stock price of $145.50 and trailing twelve-month earnings per share of $7.06.
The current P/E is 19% above its 5-year average of 17.0x. Over the past five years, NVS's P/E has ranged from a low of 7.4x to a high of 27.2x, placing the current valuation at the 70th percentile of its historical range.
Compared to the Healthcare sector median P/E of 22.2x, NVS is roughly in line with its sector peers. The sector includes 241 companies with P/E ratios ranging from 0.0x to 171.0x.
The PEG ratio of 1.32 (P/E divided by 22% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, NVS trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NVS DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NVS P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $150B | 19.4 | - | -4% | |
| $281B | 27.7 | 1.27 | +191% | |
| $151B | 12.4 | 0.60 | +2% | |
| $105B | 18.2 | - | -7% | |
| $101B | 6.7Lowest | 0.47 | +348%Best | |
| $279B | 15.5 | 0.73 | +8% | |
| $934B | 43.1 | 1.49 | +96% | |
| $152B | 11.4 | 0.38Best | +134% | |
| $116B | 16.5 | - | +178% | |
| $365B | 87.0 | - | -1% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NVS Historical P/E Data (2003–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $152.75 | $6.98 | 21.9x | +36% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $137.87 | $7.15 | 19.3x | +20% |
| FY2025 Q3 | Mon Sep 29 2025 00:00:00 GM | $124.10 | $7.31 | 17.0x | +6% |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $121.01 | $6.86 | 17.6x | +10% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $111.48 | $6.39 | 17.4x | +8% |
| FY2024 Q4 | $97.31 | $5.88 | 16.5x | +3% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $115.02 | $8.58 | 13.4x | -17% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $106.46 | $7.86 | 13.5x | -16% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $96.73 | $7.38 | 13.1x | -19% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $100.97 | $7.15 | 14.1x | -12% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $96.39 | $3.72 | 25.9x | +61% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $95.49 | $3.59 | 26.6x | +65% |
Average P/E for displayed period: 16.1x
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Start ComparisonNVS — Frequently Asked Questions
Quick answers to the most common questions about buying NVS stock.
Is NVS stock overvalued or undervalued?
NVS trades at 20.2x P/E, near its 5-year average of 17.0x. The 70th percentile ranking places valuation within normal historical bounds.
How does NVS's valuation compare to peers?
Novartis AG P/E of 20.2x compares to sector median of 22.2x. The discount suggests lower growth expectations or higher risk.
What is NVS's PEG ratio?
NVS PEG ratio is 1.32. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 2003-2026.