Financials Novartis AG

Equities

NOVN

CH0012005267

Pharmaceuticals

Market Closed - Swiss Exchange Other stock markets 11:31:52 2024-12-05 am EST			5-day change	1st Jan Change
90.38 ^CHF	+0.31%		-2.56%	+6.49%

Dec. 05	NOVARTIS AG : Deutsche Bank remains Neutral	ZD
Dec. 05	US Court Rejects Novartis' Appeal to Block Heart Failure Drug's Generic Version	MT

Projected Income Statement: Novartis AG

income-statement-evolution-chart NOVARTIS-AG

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	47,445	48,659	51,626	50,545	45,440	50,411	52,577	53,185
Change	-	2.56%	6.1%	-2.09%	-10.1%	10.94%	4.3%	1.16%
EBITDA ¹	15,809	16,845	18,246	18,613	17,937	19,838	21,273	21,947
Change	-	6.55%	8.32%	2.01%	-3.63%	10.6%	7.23%	3.17%
EBIT ¹	14,112	15,416	16,588	16,665	16,372	18,965	19,989	20,439
Change	-	9.24%	7.6%	0.46%	-1.76%	15.84%	5.4%	2.25%
Interest Paid ¹	-805	-947	-891	-817	-633	-799.8	-732.6	-637.3
Earnings before Tax (EBT) ¹	8,940	9,878	26,137	8,371	9,123	13,569	15,202	15,845
Change	-	10.49%	164.6%	-67.97%	8.98%	48.73%	12.03%	4.23%
Net income ¹	7,147	8,072	24,021	6,955	14,854	11,040	12,517	13,209
Change	-	12.94%	197.58%	-71.05%	113.57%	-25.68%	13.38%	5.53%
Announcement Date	1/29/20	1/26/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	12,403	12,283	11,347	12,259	12,770	12,411	12,956	13,030	13,229	12,531	12,781	12,543	12,690	12,953	13,622	11,782	11,423	11,829	12,512	12,823	12,794	12,660	13,090	12,845	12,250
Change	-	-0.97%	-7.62%	8.04%	4.17%	-2.81%	4.39%	0.57%	1.53%	-5.28%	2%	-1.86%	1.17%	2.07%	5.16%	-13.51%	-3.05%	3.55%	5.77%	2.49%	-0.22%	-1.05%	3.4%	-1.87%	-4.63%
EBITDA	3,909	4,672	3,922	4,370	3,881	4,267	4,819	4,871	4,274	4,407	4,989	4,783	4,473	-	4,668	-	4,224	-	-	-	-	-	-	-	-
Change	-	19.52%	-16.05%	11.42%	-11.19%	9.95%	12.94%	1.08%	-12.26%	3.11%	13.21%	-4.13%	-6.48%	-100%	-	-100%	-	-100%	-	-	-	-	-	-	-
EBIT ¹	3,462	4,177	3,669	4,069	3,501	3,957	4,345	4,467	3,819	4,083	4,270	4,282	4,030	4,413	4,668	4,405	3,821	4,537	4,953	5,145	4,509	5,245	5,450	5,165	4,385
Change	-	20.65%	-12.16%	10.9%	-13.96%	13.02%	9.81%	2.81%	-14.51%	6.91%	4.58%	0.28%	-5.89%	9.5%	5.78%	-5.63%	-13.26%	18.74%	9.17%	3.88%	-12.37%	16.33%	3.91%	-5.23%	-15.1%
Charge d'intérêts	-214	-232	-220	-228	-226	-221	-212	-226	-232	-181	-186	-221	-205	-115	-149	-207	-199	-215	-171	-238	-	-	-	-	-
Earnings before Tax (EBT)	1,759	2,621	2,288	2,410	2,559	2,450	3,506	3,230	16,951	2,669	2,042	1,919	1,741	2,740	2,769	1,552	2,377	3,129	3,841	3,385	-	-	-	-	-
Change	-	49.01%	-12.71%	5.33%	6.18%	-4.26%	43.1%	-7.87%	424.8%	-84.25%	-23.49%	-6.02%	-9.28%	57.38%	1.06%	-43.95%	53.16%	31.64%	22.75%	-11.87%	-100%	-	-	-	-
Net income ¹	1,129	2,173	1,867	1,935	2,094	2,059	2,895	2,758	16,308	2,222	1,695	1,575	1,466	2,293	2,316	1,513	8,480	2,688	3,246	3,189	2,422	-	-	-	-
Change	-	92.47%	-14.08%	3.64%	8.22%	-1.67%	40.6%	-4.73%	491.3%	-86.37%	-23.72%	-7.08%	-6.92%	56.41%	1%	-34.67%	460.48%	-68.3%	20.76%	-1.76%	-24.06%	-100%	-	-	-
Announcement Date	1/29/20	4/28/20	7/21/20	10/27/20	1/26/21	4/27/21	7/21/21	10/26/21	2/2/22	4/26/22	7/19/22	10/25/22	2/1/23	4/25/23	7/18/23	10/24/23	1/31/24	4/23/24	7/18/24	10/29/24	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Novartis AG

balance-sheet-analysis-chart NOVARTIS-AG

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	15,900	24,500	8,191	9,034	12,011	13,296	12,690	8,549
Change	-	54.09%	-66.57%	10.29%	32.95%	10.7%	-4.56%	-32.63%
Announcement Date	1/29/20	1/26/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Novartis AG

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	2,257	1,275	1,378	1,198	1,060	1,187	1,256	1,325
Change	-	-43.51%	8.08%	-13.06%	-11.52%	12%	5.77%	5.52%
Free Cash Flow (FCF) ¹	12,875	11,691	13,282	11,945	13,179	14,751	16,089	16,924
Change	-	-9.2%	13.61%	-10.07%	10.33%	11.93%	9.07%	5.19%
Announcement Date	1/29/20	1/26/21	2/2/22	2/1/23	1/31/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Novartis AG

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	33.32%	34.62%	35.34%	36.82%	39.47%	39.35%	40.46%	41.26%
EBIT Margin (%)	29.74%	31.68%	32.13%	32.97%	36.03%	37.62%	38.02%	38.43%
EBT Margin (%)	18.84%	20.3%	50.63%	16.56%	20.08%	26.92%	28.91%	29.79%
Net margin (%)	15.06%	16.59%	46.53%	13.76%	32.69%	21.9%	23.81%	24.84%
FCF margin (%)	27.14%	24.03%	25.73%	23.63%	29%	29.26%	30.6%	31.82%
FCF / Net Income (%)	180.15%	144.83%	55.29%	171.75%	88.72%	133.61%	128.53%	128.12%
Profitability
ROA	8.89%	6.45%	10.86%	10.71%	12.37%	11.72%	14.09%	15.46%
ROE	17.5%	23.48%	22.69%	21.03%	25.37%	31.01%	34.24%	33.98%
Financial Health
Leverage (Debt/EBITDA)	1.01x	1.45x	0.45x	0.49x	0.67x	0.67x	0.6x	0.39x
Debt / Free cash flow	1.23x	2.1x	0.62x	0.76x	0.91x	0.9x	0.79x	0.51x
Capital Intensity
CAPEX / Current Assets (%)	4.76%	2.62%	2.67%	2.37%	2.33%	2.36%	2.39%	2.49%
CAPEX / EBITDA (%)	14.28%	7.57%	7.55%	6.44%	5.91%	5.98%	5.9%	6.04%
CAPEX / FCF (%)	17.53%	10.91%	10.37%	10.03%	8.04%	8.05%	7.8%	7.83%
Items per share
Cash flow per share ¹	5.875	5.945	6.669	6.48	6.911	8.169	8.583	8.864
Change	-	1.19%	12.17%	-2.83%	6.65%	18.2%	5.07%	3.27%
Dividend per Share ¹	3.025	3.375	3.36	3.5	3.823	3.77	3.914	4.124
Change	-	11.58%	-0.46%	4.17%	9.23%	-1.37%	3.81%	5.38%
Book Value Per Share ¹	24.49	25.08	30.28	28	22.83	22.4	22.73	24.78
Change	-	2.39%	20.77%	-7.55%	-18.45%	-1.9%	1.49%	9.02%
EPS ¹	3.12	3.55	10.71	3.19	7.15	5.493	6.427	6.906
Change	-	13.78%	201.69%	-70.21%	124.14%	-23.17%	16.99%	7.46%
Nbr of stocks (in thousands)	2,264,608	2,274,506	2,237,092	2,150,980	2,055,460	1,999,270	1,999,270	1,999,270
Announcement Date	1/29/20	1/26/21	2/2/22	2/1/23	1/31/24	-	-	-