Novartis AG (NOVN) — Free Cash Flow Generation Index
Latest as of March 2026:
0.91x
Novartis AG (NOVN) has a Free Cash Flow Generation Index of 0.91x as of March 2026. Free cash flow of CHF3.26 Billion represents 1% of operating cash flow (CHF3.60 Billion). Read NOVN total debt and obligations for a breakdown of total debt and financial obligations.
FCF Generation Index
0.91x
Free Cash Flow / Operating CF
Free Cash Flow
CHF3.26 Billion
CHF
Operating Cash Flow
CHF3.60 Billion
CHF
Capital Expenditures
CHF338.45 Million
CHF
Novartis AG Free Cash Flow Generation Index (1998–2025)
Historical FCF Generation Index trend for Novartis AG across 28 annual periods. Explore Novartis AG (NOVN) reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for Novartis AG (1998–2025)
Year-by-year Free Cash Flow Generation Index for Novartis AG. For the full company profile including market capitalisation, see market value of Novartis AG.
| Year | FCG Index | Free Cash Flow (CHF) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.92x | CHF18.43 Billion | CHF20.05 Billion | CHF1.62 Billion | ▲ +17.3% |
| 2024 | 0.78x | CHF13.80 Billion | CHF17.62 Billion | CHF3.81 Billion | ▼ -3.2% |
| 2023 | 0.81x | CHF11.71 Billion | CHF14.46 Billion | CHF2.75 Billion | ▼ -0.3% |
| 2022 | 0.81x | CHF11.56 Billion | CHF14.24 Billion | CHF2.67 Billion | ▲ +1.2% |
| 2021 | 0.80x | CHF12.10 Billion | CHF15.07 Billion | CHF2.97 Billion | ▼ -1.0% |
| 2020 | 0.81x | CHF11.06 Billion | CHF13.65 Billion | CHF2.58 Billion | ▼ -2.8% |
| 2019 | 0.83x | CHF11.37 Billion | CHF13.62 Billion | CHF2.26 Billion | ▲ +9.1% |
| 2018 | 0.76x | CHF10.92 Billion | CHF14.27 Billion | CHF3.35 Billion | ▼ -2.2% |
| 2017 | 0.78x | CHF9.88 Billion | CHF12.62 Billion | CHF2.75 Billion | ▲ +4.4% |
| 2016 | 0.75x | CHF8.60 Billion | CHF11.47 Billion | CHF2.88 Billion | ▲ +10.8% |
| 2015 | 0.68x | CHF8.05 Billion | CHF11.90 Billion | CHF3.85 Billion | ▼ -7.8% |
| 2014 | 0.73x | CHF10.19 Billion | CHF13.90 Billion | CHF3.70 Billion | ▲ +2.8% |
| 2013 | 0.71x | CHF9.40 Billion | CHF13.17 Billion | CHF3.77 Billion | ▼ -7.0% |
| 2012 | 0.77x | CHF10.89 Billion | CHF14.19 Billion | CHF3.31 Billion | ▼ -7.9% |
| 2011 | 0.83x | CHF11.92 Billion | CHF14.31 Billion | CHF2.39 Billion | ▼ -1.0% |
| 2010 | 0.84x | CHF11.84 Billion | CHF14.07 Billion | CHF2.23 Billion | ▲ +8.4% |
| 2009 | 0.78x | CHF9.46 Billion | CHF12.19 Billion | CHF2.73 Billion | ▲ +1.7% |
| 2008 | 0.76x | CHF7.45 Billion | CHF9.77 Billion | CHF2.32 Billion | ▲ +15.6% |
| 2007 | 0.66x | CHF6.08 Billion | CHF9.21 Billion | CHF3.13 Billion | ▼ -10.0% |
| 2006 | 0.73x | CHF6.39 Billion | CHF8.71 Billion | CHF2.32 Billion | ▼ -9.3% |
| 2005 | 0.81x | CHF6.53 Billion | CHF8.08 Billion | CHF1.55 Billion | ▲ +3.1% |
| 2004 | 0.78x | CHF5.28 Billion | CHF6.72 Billion | CHF1.45 Billion | ▲ +2.1% |
| 2003 | 0.77x | CHF5.11 Billion | CHF6.65 Billion | CHF1.54 Billion | ▼ -3.6% |
| 2002 | 0.80x | CHF4.64 Billion | CHF5.83 Billion | CHF1.19 Billion | ▼ -2.4% |
| 2001 | 0.82x | CHF3.62 Billion | CHF4.43 Billion | CHF815.00 Million | ▼ -0.8% |
| 2000 | 0.82x | CHF3.82 Billion | CHF4.64 Billion | CHF825.00 Million | ▲ +2.6% |
| 1999 | 0.80x | CHF3.47 Billion | CHF4.33 Billion | CHF862.00 Million | ▲ +8.9% |
| 1998 | 0.74x | CHF3.15 Billion | CHF4.28 Billion | CHF1.13 Billion | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).