Novartis AG (NVS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 26.61B | 30.46B | 28.2B | 25.94B | 25.11B | 29.7B | 31.26B | 25.69B | 26.45B | 30.48B | 45.66B | 33.49B | 32.11B | 36.91B | 36.95B | 38.14B | 37.24B | 45.72B | 26.25B | 23.81B |
| Cash & Short-Term Investments | 6.98B | 11.59B | 9.75B | 7B | 7.2B | 13.35B | 14.02B | 8.44B | 9.69B | 14.43B | 12.7B | 11.17B | 12.26B | 18.93B | 19.1B | 19.76B | 18.81B | 28.33B | 8.16B | 5.36B |
| Cash Only | 6.88B | 11.44B | 9.56B | 6.66B | 7.07B | 11.46B | 13.61B | 7.9B | 9.47B | 13.39B | 12.4B | 10.88B | 12B | 7.52B | 8.73B | 3.63B | 13.85B | 12.41B | 7.21B | 5.12B |
| Short-Term Investments | 100M | 155M | 197M | 344M | 130M | 1.89B | 411M | 532M | 225M | 1.03B | 290M | 289M | 260M | 11.41B | 10.38B | 16.13B | 4.96B | 15.92B | 951M | 239M |
| Accounts Receivable | 9.6B | 10.93B | 8.98B | 9.18B | 8.72B | 8.21B | 8.15B | 8.48B | 8.25B | 8.12B | 7.1B | 9.54B | 9.18B | 8.94B | 8.68B | 8.91B | 8.68B | 8.83B | 8.63B | 8.65B |
| Days Sales Outstanding | 68.33 | 69.46 | 57.55 | 54.9 | 55.96 | 55.51 | 58.08 | 59.14 | 61.47 | 59.46 | 63.31 | 72.54 | 73.81 | 61.92 | 75.04 | 61.16 | 61.48 | 59.4 | 59.49 | 58.65 |
| Inventory | 6.29B | 6.27B | 6.42B | 6.31B | 5.83B | 5.72B | 5.94B | 5.75B | 5.74B | 5.91B | 5.61B | 8.23B | 7.89B | 7.18B | 6.78B | 6.88B | 7B | 6.67B | 6.88B | 7.11B |
| Days Inventory Outstanding | 163.33 | 166.61 | 163.64 | 166.22 | 161.09 | 161.39 | 166.22 | 164.76 | 171.3 | 175.4 | 204.22 | 219.39 | 226.59 | 157.6 | 218.62 | 168.33 | 159.45 | 156.78 | 163.49 | 164 |
| Other Current Assets | 3.74B | 571M | 3.04B | 3.46B | 3.36B | 1.43B | 3.15B | 3.03B | 2.76B | 1.25B | 20.26B | 4.55B | 2.79B | 958M | 2.39B | 2.59B | 2.75B | 793M | 2.57B | 2.69B |
| Total Non-Current Assets | 91.92B | 85.11B | 79.09B | 78.46B | 74.83B | 72.54B | 72.26B | 71.81B | 67.89B | 73.34B | 67.04B | 77.49B | 80.13B | 84.86B | 81.51B | 84.77B | 87.98B | 90.17B | 94.96B | 100.21B |
| Property, Plant & Equipment | 12.24B | 12.35B | 11.99B | 11.83B | 11.09B | 10.87B | 11.2B | 10.62B | 10.54B | 10.92B | 10.34B | 12.28B | 12.35B | 12.2B | 11.73B | 12.21B | 12.86B | 13.11B | 13.16B | 13.34B |
| Fixed Asset Turnover | 1.10x | 1.10x | 1.21x | 1.29x | 1.24x | 1.23x | 1.21x | 1.22x | 1.13x | 1.11x | 1.07x | 0.95x | 0.90x | 1.09x | 0.90x | 1.04x | 0.99x | 1.03x | 1.01x | 1.00x |
| Goodwill | 26.82B | 25.57B | 25.55B | 25.55B | 24.96B | 24.76B | 24.93B | 25.23B | 23.06B | 23.34B | 23.42B | 29.52B | 29.48B | 29.3B | 28.67B | 29.11B | 29.64B | 29.59B | 29.57B | 29.77B |
| Intangible Assets | 40.21B | 29.41B | 29.04B | 29.24B | 27.48B | 26.91B | 27.9B | 27.77B | 26.27B | 26.88B | 26.42B | 28B | 30.45B | 31.64B | 31.89B | 33.37B | 34.85B | 34.18B | 33.95B | 34.82B |
| Long-Term Investments | 2.43B | 2.3B | 2.15B | 2.16B | 2.1B | 1.13B | 2.19B | 2.13B | 2.58B | 2.7B | 2.12B | 2.43B | 2.56B | 2.47B | 2.49B | 2.58B | 2.91B | 3.16B | 12.35B | 12.01B |
| Other Non-Current Assets | 4.98B | 10.04B | 4.78B | 4.47B | 4.11B | 4.51B | 1.39B | 1.66B | 1.21B | 1.31B | 1.11B | 1.21B | 1.21B | 1.2B | 3.19B | 3.88B | 3.86B | 2.29B | 2.13B | 2.21B |
| Total Assets | 118.53B | 115.57B | 107.29B | 104.39B | 99.94B | 102.25B | 103.52B | 97.5B | 94.33B | 103.82B | 112.7B | 110.98B | 112.24B | 121.77B | 118.46B | 122.91B | 125.22B | 135.88B | 121.21B | 124.02B |
| Asset Turnover | 0.12x | 0.12x | 0.14x | 0.15x | 0.13x | 0.13x | 0.13x | 0.13x | 0.12x | 0.11x | 0.11x | 0.11x | 0.09x | 0.11x | 0.09x | 0.11x | 0.10x | 0.11x | 0.11x | 0.11x |
| Asset Growth % | 18.6% | 13.03% | 3.64% | 7.07% | 5.94% | -1.52% | -8.14% | -12.14% | -15.95% | -14.73% | -4.87% | -9.71% | -10.36% | -10.39% | -2.26% | -0.89% | 2.85% | 2.8% | -6.53% | 0.2% |
| Total Current Liabilities | 31.37B | 27.28B | 32B | 31.71B | 31.62B | 28.69B | 28.13B | 27.61B | 29.29B | 26.39B | 48.39B | 31.91B | 30.55B | 28.66B | 28.16B | 27.65B | 29.81B | 30.21B | 29.88B | 29.63B |
| Accounts Payable | 4.32B | 4.46B | 4.55B | 4.51B | 4.26B | 4.57B | 4.09B | 4.15B | 4.06B | 4.93B | 3.87B | 5.35B | 5.43B | 5.15B | 4.69B | 4.97B | 5.08B | 5.55B | 4.67B | 4.81B |
| Days Payables Outstanding | 114.2 | 118.31 | 116.49 | 120.08 | 123.17 | 119.83 | 117.11 | 117.7 | 132.09 | 133.89 | 136.07 | 146.71 | 159.06 | 111.12 | 154.65 | 121.93 | 124.12 | 118.22 | 110.69 | 114.52 |
| Short-Term Debt | 7.62B | 5.52B | 7.52B | 8.31B | 7.8B | 8.09B | 6.57B | 7.53B | 8.34B | 6.31B | 5.67B | 8.54B | 7.22B | 6.13B | 7.3B | 7.3B | 6.97B | 6.5B | 9.61B | 9.35B |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 127M | 0 | 0 | 0 | 98M | 0 | 0 | 0 | 123M | 0 | 0 | 0 | 123M | 0 | 0 |
| Other Current Liabilities | 17.36B | 11.98B | 16.32B | 15.81B | 16.75B | 10.38B | 15.07B | 13.78B | 15.01B | 10.83B | 36.73B | 15.37B | 14.94B | 12.41B | 13.47B | 12.93B | 15.18B | 13.36B | 13.14B | 13.1B |
| Current Ratio | 0.85x | 1.12x | 0.88x | 0.82x | 0.79x | 1.04x | 1.11x | 0.93x | 0.90x | 1.16x | 0.94x | 1.05x | 1.05x | 1.29x | 1.31x | 1.38x | 1.25x | 1.51x | 0.88x | 0.80x |
| Quick Ratio | 0.65x | 0.89x | 0.68x | 0.62x | 0.61x | 0.84x | 0.90x | 0.72x | 0.71x | 0.93x | 0.83x | 0.79x | 0.79x | 1.04x | 1.07x | 1.13x | 1.01x | 1.29x | 0.65x | 0.56x |
| Cash Conversion Cycle | 117.47 | 117.76 | 104.69 | 101.04 | 93.87 | 97.07 | 107.19 | 106.2 | 100.68 | 100.97 | 131.46 | 145.22 | 141.35 | 108.39 | 139.01 | 107.56 | 96.8 | 97.96 | 112.28 | 108.13 |
| Total Non-Current Liabilities | 48.23B | 41.74B | 30.54B | 30.63B | 29.87B | 29.43B | 31.95B | 27.99B | 25.29B | 30.68B | 26.06B | 27.14B | 29.55B | 33.69B | 29.41B | 32.26B | 33.71B | 37.85B | 34.39B | 40.25B |
| Long-Term Debt | 37.45B | 29.59B | 22.6B | 22.47B | 21.67B | 21.37B | 23.75B | 19.66B | 17.19B | 18.44B | 18.07B | 18.26B | 20.4B | 20.24B | 19.73B | 22.23B | 22.8B | 22.9B | 23.1B | 24.83B |
| Capital Lease Obligations | 1.66B | 1.66B | 1.64B | 1.59B | 1.56B | 1.57B | 1.6B | 1.56B | 1.53B | 1.6B | 1.45B | 1.54B | 1.59B | 1.54B | 1.5B | 1.55B | 1.58B | 1.62B | 1.61B | 1.66B |
| Deferred Tax Liabilities | 5.1B | 8.02B | 2.17B | 2.32B | 2.55B | 2.42B | 2.22B | 2.46B | 2.31B | 6.13B | 2.46B | 2.53B | 2.73B | 7B | 2.72B | 3.12B | 3.38B | 7.16B | 3.35B | 7.47B |
| Other Non-Current Liabilities | 4.02B | 2.48B | 4.13B | 4.24B | 4.09B | 4.08B | 4.39B | 4.31B | 4.26B | 4.52B | 4.08B | 4.81B | 4.84B | 4.91B | 5.45B | 5.35B | 5.95B | 6.17B | 6.33B | 6.29B |
| Total Liabilities | 79.61B | 69.02B | 62.54B | 62.34B | 61.49B | 58.12B | 60.08B | 55.6B | 54.58B | 57.07B | 74.45B | 59.05B | 60.1B | 62.34B | 57.57B | 59.9B | 63.51B | 68.06B | 64.27B | 69.89B |
| Total Debt | 47B | 37.11B | 32.02B | 32.64B | 31.27B | 31.26B | 32.16B | 28.99B | 27.28B | 26.35B | 25.19B | 28.34B | 29.2B | 27.91B | 28.54B | 31.09B | 31.34B | 31.02B | 34.33B | 35.84B |
| Net Debt | 40.12B | 25.68B | 22.47B | 25.98B | 24.2B | 19.8B | 18.55B | 21.08B | 17.82B | 12.95B | 12.78B | 17.45B | 17.2B | 20.39B | 19.81B | 27.46B | 17.49B | 18.62B | 27.12B | 30.73B |
| Debt / Equity | 1.21x | 0.80x | 0.72x | 0.78x | 0.81x | 0.71x | 0.74x | 0.69x | 0.69x | 0.56x | 0.66x | 0.55x | 0.56x | 0.47x | 0.47x | 0.49x | 0.51x | 0.46x | 0.60x | 0.66x |
| Debt / EBITDA | 8.60x | 7.32x | 5.46x | 5.33x | 5.38x | 6.06x | 5.75x | 5.60x | 5.82x | 6.32x | 5.17x | 6.28x | 6.51x | 7.16x | 7.63x | 7.71x | 7.36x | 7.60x | 7.33x | 7.28x |
| Net Debt / EBITDA | 7.34x | 5.06x | 3.83x | 4.25x | 4.16x | 3.84x | 3.32x | 4.07x | 3.80x | 3.11x | 2.62x | 3.87x | 3.83x | 5.23x | 5.30x | 6.81x | 4.11x | 4.56x | 5.79x | 6.24x |
| Interest Coverage | 12.19x | 11.58x | 15.93x | 16.41x | 17.31x | 13.04x | 13.67x | 16.64x | 15.25x | 10.86x | 7.99x | 13.39x | 13.57x | 8.12x | 8.70x | 11.11x | 14.28x | 83.29x | 16.99x | 18.44x |
| Total Equity | 38.93B | 46.55B | 44.75B | 42.05B | 38.45B | 44.13B | 43.44B | 41.9B | 39.76B | 46.75B | 38.24B | 51.93B | 52.14B | 59.42B | 60.9B | 63.01B | 61.7B | 67.82B | 56.94B | 54.13B |
| Equity Growth % | 1.24% | 5.49% | 3.02% | 0.36% | -3.28% | -5.61% | 13.59% | -19.31% | -23.75% | -21.33% | -37.2% | -17.58% | -15.5% | -12.38% | 6.96% | 16.4% | 21.97% | 19.69% | 4.37% | 0.45% |
| Book Value per Share | 20.32 | 24.13 | 23.07 | 21.46 | 19.43 | 22.02 | 21.43 | 20.48 | 19.34 | 22.64 | 18.43 | 24.79 | 24.60 | 27.64 | 27.93 | 28.50 | 27.58 | 30.10 | 25.26 | 23.97 |
| Total Shareholders' Equity | 38.51B | 46.13B | 44.33B | 41.98B | 38.37B | 44.05B | 43.32B | 41.73B | 39.67B | 46.67B | 38.16B | 51.85B | 52.06B | 59.34B | 60.82B | 62.92B | 61.54B | 67.66B | 56.77B | 54.04B |
| Common Stock | 736M | 766M | 766M | 766M | 766M | 793M | 793M | 793M | 793M | 825M | 825M | 842M | 842M | 890M | 890M | 890M | 901M | 901M | 901M | 913M |
| Retained Earnings | 37.25B | 44.72B | 43.51B | 41.53B | 39.84B | 0 | 46.29B | 45.84B | 43.83B | 49.65B | 42.33B | 55.68B | 56.09B | 63.54B | 64.54B | 65.43B | 63.45B | 70.99B | 57.44B | 54.4B |
| Treasury Stock | -47M | -50M | -44M | -33M | -19M | -53M | -40M | -25M | -17M | -41M | -32M | -52M | -36M | -92M | -70M | -60M | -60M | -48M | -47M | -65M |
| Accumulated OCI | 571M | 694M | 98M | -275M | -2.22B | -3.25B | -3.73B | -4.87B | -4.93B | -3.77B | -4.96B | -4.63B | -4.84B | -5B | -4.54B | -3.34B | -2.75B | -4.19B | -1.52B | -1.21B |
| Minority Interest | 415M | 419M | 422M | 69M | 83M | 80M | 124M | 169M | 81M | 83M | 81M | 84M | 83M | 81M | 78M | 81M | 164M | 167M | 166M | 86M |