Novartis AG (NVS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NVS Revenue Growth
Revenue Breakdown (FY 2022)
NVS's revenue distribution by segment and geography for fiscal year 2022
By Product/Segment
By Geography
NVS Revenue Analysis (2014–2025)
As of May 7, 2026, Novartis AG (NVS) generated trailing twelve-month (TTM) revenue of $56.05 billion, reflecting slight decline in growth of -0.7% year-over-year. The most recent quarter (Q1 2026) recorded $13.52 billion in revenue, up 1.4% sequentially.
Looking at the longer-term picture, NVS's 5-year compound annual growth rate (CAGR) stands at +1.9%, indicating moderate growth over time. The company achieved its highest annual revenue of $54.81 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows NVS's business is primarily driven by Top 20 products (74%), Rest of portfolio (21%), and Total anti-infectives net sales (3%). With over half of revenue concentrated in Top 20 products, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including PFE (+1.4% YoY), AZN (+9.9% YoY), and NVO (+6.4% YoY), NVS has underperformed the peer group in terms of revenue growth. Compare NVS vs PFE →
NVS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NVSCurrent | $56.1B | -0.7% | +1.9% | 31.2% | |
 PFE | $62.6B | +1.4% | +8.5% | 24.7% | |
 AZN | $58.7B | +9.9% | +17.2% | 23.4% | |
 NVO | $309.1B | +6.4% | +19.5% | 41.3% | |
 SNY | $46.7B | +14.1% | +4.6% | 13.6% | |
 GSK | $32.7B | +5.4% | +6.0% | 25.5% |
NVS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $54.81B | +6.0% | $41.12B | 75.0% | $17.07B | 31.2% |
| 2024 | $51.72B | +10.8% | $38.90B | 75.2% | $14.54B | 28.1% |
| 2023 | $46.66B | +7.4% | $34.19B | 73.3% | $9.77B | 20.9% |
| 2022 | $43.46B | -1.2% | $31.88B | 73.4% | $7.95B | 18.3% |
| 2021 | $43.97B | -11.9% | $32.24B | 73.3% | $10.06B | 22.9% |
| 2020 | $49.90B | +2.5% | $34.78B | 69.7% | $10.15B | 20.3% |
| 2019 | $48.68B | +5.6% | $34.25B | 70.4% | $9.09B | 18.7% |
| 2018 | $46.10B | +6.2% | $31.59B | 68.5% | $8.40B | 18.2% |
| 2017 | $43.40B | -12.2% | $29.77B | 68.6% | $8.70B | 20.0% |
| 2016 | $49.44B | -1.9% | $31.92B | 64.6% | $8.27B | 16.7% |
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Start ComparisonNVS — Frequently Asked Questions
Quick answers to the most common questions about buying NVS stock.
Is NVS's revenue growth accelerating or slowing?
NVS revenue growth slowed to -0.7%, below the 5-year CAGR of +1.9%. TTM revenue is $56.1B. The deceleration marks a shift from historical growth rates.
What is NVS's long-term revenue growth rate?
Novartis AG's 5-year revenue CAGR of +1.9% reflects the variable expansion pattern. Current YoY growth of -0.7% is near this long-term average.
How is NVS's revenue distributed by segment?
NVS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.