Cash flow Novartis AG

Equities

NOVN

CH0012005267

Pharmaceuticals

Market Closed - Swiss Exchange Other stock markets 11:30:39 2024-12-06 am EST			5-day change	1st Jan Change
89.81 ^CHF	-0.63%		-3.82%	+5.82%

Dec. 06	Swiss Market Index Ends Week Little Changed; Holcim Shares Down	MT
Dec. 06	Novartis Reports 'Positive' Results From Phase 3 Study of Potential Blood Disorder Therapy	MT

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Published financial data: NOVARTIS AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	47.5B	48.66B	51.63B	50.54B	45.44B
Other Revenues, Total	1.18B	1.24B	1.25B	1.28B	1.22B
Total Revenues	48.68B	49.9B	52.88B	51.83B	46.66B
Cost of Goods Sold, Total	14B	14.4B	15.44B	15.08B	12.02B
Gross Profit	34.68B	35.5B	37.44B	36.74B	34.64B
Selling General & Admin Expenses, Total	14.32B	14.09B	14.82B	14.19B	12.49B
R&D Expenses	8.44B	8.55B	9.15B	9.25B	9.01B
Other Operating Expenses	575M	670M	653M	449M	498M
Other Operating Expenses, Total	23.33B	23.31B	24.62B	23.88B	22B
Operating Income	11.35B	12.19B	12.82B	12.86B	12.64B
Interest Expense, Total	-850M	-869M	-811M	-837M	-855M
Interest And Investment Income	245M	91M	71M	379M	627M
Net Interest Expenses	-605M	-778M	-740M	-458M	-228M
Income (Loss) On Equity Invest.	659M	673M	15.34B	-9M	-13M
Currency Exchange Gains (Loss)	-160M	-135M	-69M	-184M	-214M
Other Non Operating Income (Expenses)	-29M	-29M	-153M	-54M	17M
EBT, Excl. Unusual Items	11.22B	11.92B	27.2B	12.15B	12.2B
Restructuring Charges	-	-	-	-	-951M
Merger & Related Restructuring Charges	-68M	-89M	-	-	-
Gain (Loss) On Sale Of Investments	38M	336M	38M	-260M	-105M
Gain (Loss) On Sale Of Assets	1.09B	414M	728M	166M	225M
Asset Writedown	-1.33B	-1.34B	-653M	-1.69B	-3.09B
Legal Settlements	-1.12B	-935M	-212M	-369M	542M
Other Unusual Items	-882M	-431M	-965M	-1.63B	296M
EBT, Incl. Unusual Items	8.94B	9.88B	26.14B	8.37B	9.12B
Income Tax Expense	1.79B	1.81B	2.12B	1.42B	551M
Earnings From Continuing Operations	7.15B	8.07B	24.02B	6.96B	8.57B
Earnings Of Discontinued Operations	4.59B	-	-	-	6.28B
Net Income to Company	11.74B	8.07B	24.02B	6.96B	14.85B
Minority Interest	-5M	1M	3M	-	-4M
Net Income - (IS)	11.73B	8.07B	24.02B	6.96B	14.85B
Net Income to Common Incl Extra Items	11.73B	8.07B	24.02B	6.96B	14.85B
Net Income to Common Excl. Extra Items	7.14B	8.07B	24.02B	6.96B	8.57B
Per Share Items
Net EPS - Basic	5.12	3.54	10.71	3.19	7.15
Basic EPS - Continuing Operations	3.12	3.54	10.71	3.19	4.13
Basic Weighted Average Shares Outstanding	2.29B	2.28B	2.24B	2.18B	2.08B
Net EPS - Diluted	5.06	3.52	10.63	3.17	7.1
Diluted EPS - Continuing Operations	3.08	3.52	10.63	3.17	4.1
Diluted Weighted Average Shares Outstanding	2.32B	2.3B	2.26B	2.2B	2.09B
Normalized Basic EPS	3.06	3.27	7.58	3.48	3.67
Normalized Diluted EPS	3.02	3.24	7.52	3.46	3.64
Dividend Per Share	3.04	3.4	3.39	3.46	3.92
Payout Ratio	56.64	86.56	30.67	107.92	48.86
American Depositary Receipts Ratio (ADR)	0.1	0.1	0.1	0.1	0.1
Supplemental Items
EBITDA	15.53B	17.41B	17.94B	18B	17.52B
EBITA	14.19B	15.65B	16.73B	16.84B	16.6B
EBIT	11.35B	12.19B	12.82B	12.86B	12.64B
EBITDAR	15.55B	17.42B	17.95B	18.01B	17.53B
Effective Tax Rate - (Ratio)	20.06	18.29	8.11	16.92	6.04
Current Domestic Taxes	1.19B	932M	958M	617M	1.14B
Current Foreign Taxes	961M	1.17B	1.47B	1.45B	1.29B
Total Current Taxes	2.15B	2.1B	2.43B	2.07B	2.43B
Deferred Domestic Taxes	93M	137M	-23M	142M	-355M
Deferred Foreign Taxes	-447M	-430M	-286M	-797M	-1.52B
Total Deferred Taxes	-354M	-293M	-309M	-655M	-1.88B
Normalized Net Income	7B	7.45B	17B	7.6B	7.62B
Interest Capitalized	4M	2M	4M	5M	3M
Interest on Long-Term Debt	66M	67M	62M	60M	62M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	9.41B	9.02B	9.54B	10B	11.37B
Net Rental Expense, Total	15M	11M	13M	9M	11M
Imputed Operating Lease Interest Expense	3.33M	2.27M	2.45M	2.05M	2.78M
Imputed Operating Lease Depreciation	11.67M	8.73M	10.55M	6.95M	8.22M
Stock-Based Comp., Other (Total)	1.07B	958M	979M	1.05B	1.14B
Total Stock-Based Compensation	1.07B	958M	979M	1.05B	1.14B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	11.11B	9.66B	12.41B	7.52B	13.39B
Short Term Investments	232M	1.75B	15.82B	11.21B	680M
Total Cash And Short Term Investments	11.34B	11.4B	28.22B	18.73B	14.07B
Accounts Receivable, Total	8.3B	8.22B	8B	8.07B	7.11B
Other Receivables	1.93B	1.75B	1.56B	1.74B	2.14B
Total Receivables	10.23B	9.96B	9.56B	9.8B	9.25B
Inventory	5.98B	7.13B	6.67B	7.18B	5.91B
Prepaid Expenses	898M	943M	1.1B	911M	764M
Other Current Assets, Total	1.05B	232M	163M	297M	484M
Total Current Assets	29.5B	29.67B	45.72B	36.91B	30.48B
Gross Property Plant And Equipment	28.68B	29.89B	28.71B	26.3B	22.8B
Accumulated Depreciation	-14.93B	-15.96B	-15.6B	-14.11B	-11.88B
Net Property Plant And Equipment	13.75B	13.94B	13.11B	12.2B	10.92B
Long-term Investments	10.43B	11.61B	2.27B	1.61B	1.83B
Goodwill	26.52B	30B	29.6B	29.3B	23.34B
Other Intangibles, Total	23.36B	32.11B	28.68B	27.22B	21.55B
Accounts Receivable Long-Term	66M	83M	70M	59M	104M
Loans Receivable Long-Term	159M	89M	78M	85M	114M
Deferred Tax Assets Long-Term	7.91B	8.21B	3.74B	3.74B	4.31B
Deferred Charges Long-Term	5.42B	4.7B	5.5B	4.42B	5.33B
Other Long-Term Assets, Total	1.24B	1.64B	3.04B	1.91B	1.97B
Total Assets	118B	132B	132B	117B	99.94B
Liabilities
Accounts Payable, Total	5.42B	5.4B	5.55B	5.15B	4.93B
Accrued Expenses, Total	5.18B	5.5B	5.15B	5.39B	5.17B
Short-term Borrowings	4.84B	7.32B	3.61B	3.64B	3.89B
Current Portion of Long-Term Debt	2.19B	2.47B	2.69B	2.3B	2.28B
Current Portion of Leases	246M	286M	275M	251M	230M
Current Income Taxes Payable	2.19B	2.46B	2.42B	2.53B	1.89B
Unearned Revenue Current, Total	114M	56M	123M	123M	98M
Other Current Liabilities	8.08B	9.57B	10.4B	9.28B	7.89B
Total Current Liabilities	28.26B	33.06B	30.21B	28.66B	26.39B
Long-Term Debt	20.35B	26.26B	22.9B	20.24B	18.44B
Long-Term Leases	1.7B	1.72B	1.62B	1.54B	1.6B
Pension & Other Post Retirement Benefits	4.63B	4.72B	3.79B	2.64B	2.73B
Deferred Tax Liability Non Current	5.87B	7.42B	3.07B	2.69B	2.25B
Other Non Current Liabilities	2B	2.22B	2.38B	2.27B	1.79B
Total Liabilities	62.82B	75.39B	63.97B	58.03B	53.2B
Common Stock, Total	936M	913M	901M	890M	825M
Retained Earnings	59.28B	57.16B	70.99B	63.54B	49.65B
Treasury Stock	-80M	-53M	-48M	-92M	-41M
Comprehensive Income and Other	-4.66B	-1.42B	-4.19B	-5B	-3.77B
Total Common Equity	55.47B	56.6B	67.66B	59.34B	46.67B
Minority Interest	77M	68M	167M	81M	83M
Total Equity	55.55B	56.67B	67.82B	59.42B	46.75B
Total Liabilities And Equity	118B	132B	132B	117B	99.94B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.27B	2.26B	2.23B	2.12B	2.04B
ECS Total Common Shares Outstanding	2.27B	2.26B	2.23B	2.12B	2.04B
Book Value / Share	24.49	25.08	30.27	28	22.83
Tangible Book Value	5.59B	-5.51B	9.38B	2.82B	1.78B
Tangible Book Value Per Share	2.47	-2.44	4.2	1.33	0.87
Total Debt	29.33B	38.05B	31.09B	27.96B	26.44B
Net Debt	17.99B	26.64B	2.87B	9.24B	12.37B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.26B	3.28B	1.16B	-1.41B	-897M
Debt Equivalent Oper. Leases	120M	88M	104M	72M	88M
Minority Interest, Total (Incl. Fin. Div)	77M	68M	167M	81M	83M
Equity Method Investments, Total	8.64B	9.63B	205M	143M	205M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	751M	967M	870M	934M	963M
Inventories - Work In Process, Total	3.02B	3.32B	3.16B	3.67B	3.5B
Inventories - Finished Goods, Total	2.21B	2.84B	2.64B	2.57B	1.45B
Land - (BS)	512M	555M	492M	451M	403M
Buildings, Total	11.46B	12.38B	11.82B	11.4B	10.15B
Machinery, Total	13.67B	14.04B	13.33B	11.84B	9.63B
Full Time Employees	104K	106K	104K	102K	76.06K
Accumulated Allowance for Doubtful Accounts (Supple)	95M	93M	83M	62M	51M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	11.73B	8.07B	24.02B	6.96B	14.85B
Depreciation & Amortization - CF	1.65B	2.09B	1.53B	1.47B	1.18B
Amortization of Goodwill and Intangible Assets - (CF)	2.84B	3.46B	3.9B	3.98B	3.96B
Depreciation & Amortization, Total	4.49B	5.55B	5.43B	5.45B	5.14B
(Gain) Loss From Sale Of Asset	-1.23B	-478M	-677M	-333M	-180M
(Gain) Loss on Sale of Investments - (CF)	-38M	-335M	-38M	260M	106M
Asset Writedown & Restructuring Costs	1.34B	914M	684M	1.73B	3.14B
(Income) Loss On Equity Investments - (CF)	-659M	-673M	-15.34B	9M	15M
Stock-Based Compensation (CF)	758M	738M	736M	823M	865M
Net Cash From Discontinued Operations	78M	-	-	-	238M
Other Operating Activities, Total	-2.11B	2.59B	1.13B	1.23B	-7.81B
Change In Accounts Receivable	-980M	137M	-389M	-589M	-1.5B
Change In Inventories	-382M	-543M	81M	-830M	-546M
Change In Accounts Payable	553M	-324M	-21M	-48M	479M
Change in Other Net Operating Assets	84M	-2B	-549M	-421M	-332M
Cash from Operations	13.62B	13.65B	15.07B	14.24B	14.46B
Capital Expenditure	-1.38B	-1.28B	-1.38B	-1.2B	-1.06B
Sale of Property, Plant, and Equipment	857M	88M	240M	167M	237M
Cash Acquisitions	-3.85B	-10.01B	-633M	-864M	-3.56B
Divestitures	91M	49M	66M	-15M	3M
Sale (Purchase) of Intangible assets	95M	-930M	-845M	-1.27B	262M
Investment in Marketable and Equity Securities, Total	3.18B	-922M	6.82B	4.65B	10.84B
Other Investing Activities, Total	-1.22B	-186M	-57M	-1M	-1.12B
Cash from Investing	-2.23B	-13.18B	4.21B	1.47B	5.6B
Short Term Debt Issued, Total	-	2.26B	-	295M	546M
Long-Term Debt Issued, Total	93M	7.13B	16M	16M	-
Total Debt Issued	93M	9.39B	16M	311M	546M
Short Term Debt Repaid, Total	-1.58B	-	-3.52B	-	-
Long-Term Debt Repaid, Total	-3.47B	-2.32B	-2.48B	-2.87B	-2.48B
Total Debt Repaid	-5.05B	-2.32B	-6B	-2.87B	-2.48B
Issuance of Common Stock	201M	748M	53M	100M	153M
Repurchase of Common Stock	-5.53B	-2.84B	-3.06B	-10.65B	-8.72B
Common Dividends Paid	-6.64B	-6.99B	-7.37B	-7.51B	-7.26B
Common & Preferred Stock Dividends Paid	-6.64B	-6.99B	-7.37B	-7.51B	-7.26B
Other Financing Activities, Total	3.31B	-199M	94M	55M	3.48B
Cash from Financing	-13.63B	-2.21B	-16.26B	-20.56B	-14.28B
Foreign Exchange Rate Adjustments	69M	286M	-266M	-32M	100M
Net Change in Cash	-2.16B	-1.45B	2.75B	-4.89B	5.88B
Supplemental Items
Cash Interest Paid	793M	703M	664M	696M	751M
Cash Income Tax Paid (Refund)	1.88B	1.83B	2.34B	1.98B	2.79B
Levered Free Cash Flow	13.46B	13.27B	13.12B	9.69B	12.13B
Unlevered Free Cash Flow	13.99B	13.81B	13.62B	10.21B	12.67B
Change In Net Working Capital	-2.63B	-1.89B	-1.42B	1.85B	713M
Net Debt Issued / Repaid	-4.96B	7.07B	-5.99B	-2.56B	-1.94B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.38	6.08	6.18	6.45	7.27
Return on Total Capital	7.25	8.48	8.28	8.63	9.84
Return On Equity %	10.65	14.38	38.59	10.93	16.15
Return on Common Equity	10.65	14.4	38.66	10.95	16.16
Margin Analysis
Gross Profit Margin %	71.25	71.14	70.81	70.9	74.24
SG&A Margin	29.42	28.24	28.02	27.38	26.77
EBITDA Margin %	31.91	34.89	33.92	34.74	37.54
EBITA Margin %	29.15	31.36	31.63	32.49	35.58
EBIT Margin %	23.32	24.42	24.25	24.81	27.09
Income From Continuing Operations Margin %	14.68	16.17	45.42	13.42	18.37
Net Income Margin %	24.1	16.18	45.43	13.42	31.83
Net Avail. For Common Margin %	14.67	16.18	45.43	13.42	18.36
Normalized Net Income Margin	14.39	14.93	32.16	14.66	16.34
Levered Free Cash Flow Margin	27.65	26.59	24.81	18.69	26
Unlevered Free Cash Flow Margin	28.74	27.68	25.77	19.7	27.15
Asset Turnover
Asset Turnover	0.37	0.4	0.41	0.42	0.43
Fixed Assets Turnover	3.31	3.6	3.91	4.1	4.04
Receivables Turnover (Average Receivables)	5.58	5.89	6.36	6.29	5.99
Inventory Turnover (Average Inventory)	2.16	2.2	2.24	2.18	1.84
Short Term Liquidity
Current Ratio	1.04	0.9