Novartis AG (NOVN) — Capital Reinvestment Ratio
Novartis AG (NOVN) has a Capital Reinvestment Ratio of 0.09x as of March 2026, meaning it reinvests 0% of its operating cash flow (CHF3.60 Billion) in capital expenditures (CHF338.45 Million). Check tangible net worth ratio of Novartis AG to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Novartis AG Capital Reinvestment Ratio (1998–2025)
This chart tracks Novartis AG's Capital Reinvestment Ratio across 28 annual periods. For the full cash flow conversion analysis, see Novartis AG cash conversion from operations.
Annual Capital Reinvestment Ratio for Novartis AG (1998–2025)
Year-by-year Capital Reinvestment Ratio for Novartis AG from 1998 to 2025. See NOVN free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (CHF) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.08x | CHF20.05 Billion | CHF1.62 Billion | ▼ -62.6% |
| 2024 | 0.22x | CHF17.62 Billion | CHF3.81 Billion | ▲ +13.7% |
| 2023 | 0.19x | CHF14.46 Billion | CHF2.75 Billion | ▲ +1.5% |
| 2022 | 0.19x | CHF14.24 Billion | CHF2.67 Billion | ▼ -4.8% |
| 2021 | 0.20x | CHF15.07 Billion | CHF2.97 Billion | ▲ +4.1% |
| 2020 | 0.19x | CHF13.65 Billion | CHF2.58 Billion | ▲ +14.3% |
| 2019 | 0.17x | CHF13.62 Billion | CHF2.26 Billion | ▼ -29.5% |
| 2018 | 0.24x | CHF14.27 Billion | CHF3.35 Billion | ▲ +8.0% |
| 2017 | 0.22x | CHF12.62 Billion | CHF2.75 Billion | ▼ -13.3% |
| 2016 | 0.25x | CHF11.47 Billion | CHF2.88 Billion | ▼ -22.5% |
| 2015 | 0.32x | CHF11.90 Billion | CHF3.85 Billion | ▲ +21.5% |
| 2014 | 0.27x | CHF13.90 Billion | CHF3.70 Billion | ▼ -7.0% |
| 2013 | 0.29x | CHF13.17 Billion | CHF3.77 Billion | ▲ +23.1% |
| 2012 | 0.23x | CHF14.19 Billion | CHF3.31 Billion | ▲ +39.6% |
| 2011 | 0.17x | CHF14.31 Billion | CHF2.39 Billion | ▲ +5.1% |
| 2010 | 0.16x | CHF14.07 Billion | CHF2.23 Billion | ▼ -29.2% |
| 2009 | 0.22x | CHF12.19 Billion | CHF2.73 Billion | ▼ -5.4% |
| 2008 | 0.24x | CHF9.77 Billion | CHF2.32 Billion | ▼ -30.3% |
| 2007 | 0.34x | CHF9.21 Billion | CHF3.13 Billion | ▲ +27.6% |
| 2006 | 0.27x | CHF8.71 Billion | CHF2.32 Billion | ▲ +39.2% |
| 2005 | 0.19x | CHF8.08 Billion | CHF1.55 Billion | ▼ -11.1% |
| 2004 | 0.22x | CHF6.72 Billion | CHF1.45 Billion | ▼ -7.0% |
| 2003 | 0.23x | CHF6.65 Billion | CHF1.54 Billion | ▲ +14.0% |
| 2002 | 0.20x | CHF5.83 Billion | CHF1.19 Billion | ▲ +10.6% |
| 2001 | 0.18x | CHF4.43 Billion | CHF815.00 Million | ▲ +3.5% |
| 2000 | 0.18x | CHF4.64 Billion | CHF825.00 Million | ▼ -10.6% |
| 1999 | 0.20x | CHF4.33 Billion | CHF862.00 Million | ▼ -24.7% |
| 1998 | 0.26x | CHF4.28 Billion | CHF1.13 Billion | — |