Novartis AG
Novartis AG researches, develops, manufactures, distributes, markets, and sells pharmaceutical medicines in Switzerland and internationally. The company offers Entresto, an angiotensin receptorneprilysin inhibitor to treat symptomatic chronic heart failure with reduced ejection fraction (HFrEF); Cosentyx to treat plaque psoriasis, pso riatic arthritis, ankylosing spondylitis, and nonradiographic … Read more
Novartis AG (NVSEF) - Net Assets
Latest net assets as of December 2025: $46.52 Billion USD
Based on the latest financial reports, Novartis AG (NVSEF) has net assets worth $46.52 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($115.49 Billion) and total liabilities ($68.97 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $46.52 Billion |
| % of Total Assets | 40.28% |
| Annual Growth Rate | 2.7% |
| 5-Year Change | -31.41% |
| 10-Year Change | -37.89% |
| Growth Volatility | 12.21 |
Novartis AG - Net Assets Trend (1998–2025)
This chart illustrates how Novartis AG's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Novartis AG (1998–2025)
The table below shows the annual net assets of Novartis AG from 1998 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $46.52 Billion | +5.42% |
| 2024-12-31 | $44.13 Billion | -5.61% |
| 2023-12-31 | $46.75 Billion | -21.33% |
| 2022-12-31 | $59.42 Billion | -12.38% |
| 2021-12-31 | $67.82 Billion | +19.69% |
| 2020-12-31 | $56.67 Billion | +2.01% |
| 2019-12-31 | $55.55 Billion | -29.41% |
| 2018-12-31 | $78.69 Billion | +6.02% |
| 2017-12-31 | $74.23 Billion | -0.89% |
| 2016-12-31 | $74.89 Billion | -2.89% |
| 2015-12-31 | $77.12 Billion | +8.86% |
| 2014-12-31 | $70.84 Billion | -4.87% |
| 2013-12-31 | $74.47 Billion | +7.59% |
| 2012-12-31 | $69.22 Billion | +4.97% |
| 2011-12-31 | $65.94 Billion | -5.49% |
| 2010-12-31 | $69.77 Billion | +21.42% |
| 2009-12-31 | $57.46 Billion | +13.93% |
| 2008-12-31 | $50.44 Billion | +2.11% |
| 2007-12-31 | $49.40 Billion | +19.62% |
| 2006-12-31 | $41.29 Billion | +24.51% |
| 2005-12-31 | $33.16 Billion | -2.23% |
| 2004-12-31 | $33.92 Billion | +11.15% |
| 2003-12-31 | $30.52 Billion | +7.42% |
| 2002-12-31 | $28.41 Billion | +11.16% |
| 2001-12-31 | $25.56 Billion | +13.47% |
| 2000-12-31 | $22.52 Billion | -4.34% |
| 1999-12-31 | $23.55 Billion | +3.92% |
| 1998-12-31 | $22.66 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Novartis AG's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 107.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $44.69 Billion | 96.94% |
| Common Stock | $765.50 Million | 1.66% |
| Other Comprehensive Income | $693.54 Million | 1.50% |
| Total Equity | $46.10 Billion | 100.00% |
Novartis AG Competitors by Market Cap
The table below lists competitors of Novartis AG ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Citigroup Inc
NYSE:C
|
$191.52 Billion |
|
Nextera Energy Inc
NYSE:NEE
|
$193.52 Billion |
|
Shopify Inc
NYSE:SHOP
|
$196.50 Billion |
|
Amgen Inc
NASDAQ:AMGN
|
$196.91 Billion |
|
Abbott Laboratories
NYSE:ABT
|
$190.05 Billion |
|
Australia and New Zealand Banking Group Ltd
AU:AN3PK
|
$189.74 Billion |
|
BHP Group Limited
NYSE:BHP
|
$188.50 Billion |
|
KLA Corp.
LSE:0JPO
|
$188.21 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Novartis AG's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 44,046,000,000 to 46,099,746,000, a change of 2,053,746,000 (4.7%).
- Net income of 14,649,294,000 contributed positively to equity growth.
- Dividend payments of 8,189,944,000 reduced retained earnings.
- Share repurchases of 9,650,264,000 reduced equity.
- Other comprehensive income increased equity by 3,948,545,000.
- Other factors increased equity by 1,296,115,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $14.65 Billion | +31.78% |
| Dividends Paid | $8.19 Billion | -17.77% |
| Share Repurchases | $9.65 Billion | -20.93% |
| Other Comprehensive Income | $3.95 Billion | +8.57% |
| Other Changes | $1.30 Billion | +2.81% |
| Total Change | $- | 4.66% |
Book Value vs Market Value Analysis
This analysis compares Novartis AG's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.44x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 12.73x to 4.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | $8.22 | $104.67 | x |
| 1999-12-31 | $8.92 | $104.67 | x |
| 2000-12-31 | $8.54 | $104.67 | x |
| 2001-12-31 | $9.89 | $104.67 | x |
| 2002-12-31 | $11.02 | $104.67 | x |
| 2003-12-31 | $12.62 | $104.67 | x |
| 2004-12-31 | $14.27 | $104.67 | x |
| 2005-12-31 | $14.08 | $104.67 | x |
| 2006-12-31 | $17.42 | $104.67 | x |
| 2007-12-31 | $21.14 | $104.67 | x |
| 2008-12-31 | $22.02 | $104.67 | x |
| 2009-12-31 | $25.20 | $104.67 | x |
| 2010-12-31 | $27.46 | $104.67 | x |
| 2011-12-31 | $27.29 | $104.67 | x |
| 2012-12-31 | $28.26 | $104.67 | x |
| 2013-12-31 | $29.99 | $104.67 | x |
| 2014-12-31 | $28.65 | $104.67 | x |
| 2015-12-31 | $31.60 | $104.67 | x |
| 2016-12-31 | $31.18 | $104.67 | x |
| 2017-12-31 | $31.28 | $104.67 | x |
| 2018-12-31 | $33.54 | $104.67 | x |
| 2019-12-31 | $23.92 | $104.67 | x |
| 2020-12-31 | $24.65 | $104.67 | x |
| 2021-12-31 | $29.94 | $104.67 | x |
| 2022-12-31 | $27.01 | $104.67 | x |
| 2023-12-31 | $22.31 | $104.67 | x |
| 2024-12-31 | $21.64 | $104.67 | x |
| 2025-12-31 | $23.58 | $104.67 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Novartis AG utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 31.78%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.64%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 2.51x
- Recent ROE (31.78%) is above the historical average (18.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | 19.40% | 18.96% | 0.57x | 1.79x | $2.12 Billion |
| 1999 | 17.86% | 20.48% | 0.50x | 1.76x | $1.84 Billion |
| 2000 | 19.87% | 20.46% | 0.62x | 1.58x | $2.22 Billion |
| 2001 | 15.05% | 19.84% | 0.48x | 1.58x | $1.29 Billion |
| 2002 | 16.67% | 20.41% | 0.51x | 1.59x | $1.89 Billion |
| 2003 | 15.59% | 19.08% | 0.50x | 1.62x | $1.70 Billion |
| 2004 | 15.88% | 18.99% | 0.52x | 1.61x | $1.99 Billion |
| 2005 | 18.58% | 18.85% | 0.56x | 1.75x | $2.83 Billion |
| 2006 | 17.45% | 19.52% | 0.54x | 1.65x | $3.06 Billion |
| 2007 | 24.27% | 30.67% | 0.52x | 1.53x | $7.02 Billion |
| 2008 | 16.30% | 19.24% | 0.54x | 1.56x | $3.17 Billion |
| 2009 | 14.64% | 18.62% | 0.47x | 1.66x | $2.66 Billion |
| 2010 | 15.50% | 18.99% | 0.42x | 1.95x | $3.47 Billion |
| 2011 | 13.58% | 15.06% | 0.51x | 1.78x | $2.36 Billion |
| 2012 | 13.42% | 16.10% | 0.46x | 1.80x | $2.36 Billion |
| 2013 | 12.34% | 15.60% | 0.47x | 1.70x | $1.74 Billion |
| 2014 | 14.43% | 19.04% | 0.43x | 1.77x | $3.13 Billion |
| 2015 | 23.08% | 35.29% | 0.38x | 1.71x | $10.08 Billion |
| 2016 | 8.97% | 13.58% | 0.38x | 1.74x | $-771.20 Million |
| 2017 | 10.39% | 15.36% | 0.38x | 1.79x | $286.20 Million |
| 2018 | 16.04% | 23.72% | 0.37x | 1.85x | $4.75 Billion |
| 2019 | 21.15% | 24.10% | 0.41x | 2.13x | $6.18 Billion |
| 2020 | 14.26% | 16.18% | 0.38x | 2.33x | $2.41 Billion |
| 2021 | 35.51% | 45.43% | 0.40x | 1.95x | $17.26 Billion |
| 2022 | 11.72% | 13.42% | 0.44x | 1.98x | $1.02 Billion |
| 2023 | 31.82% | 31.83% | 0.47x | 2.14x | $10.18 Billion |
| 2024 | 27.11% | 23.09% | 0.51x | 2.32x | $7.54 Billion |
| 2025 | 31.78% | 25.64% | 0.49x | 2.51x | $10.04 Billion |
Industry Comparison
This section compares Novartis AG's net assets metrics with peer companies in the Drug Manufacturers - General industry.
Industry Context
- Industry: Drug Manufacturers - General
- Average net assets among peers: $308,328,125,500
- Average return on equity (ROE) among peers: 18.93%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Novartis AG (NVSEF) | $46.52 Billion | 19.40% | 1.48x | $190.10 Billion |
| AbbVie Inc (ABBV) | $13.10 Billion | 35.24% | 10.50x | $390.88 Billion |
| Astellas Pharma Inc (ALPMF) | $1.06 Trillion | 7.80% | 0.36x | $16.93 Billion |
| Amgen Inc (AMGN) | $20.39 Billion | 20.58% | 0.79x | $196.91 Billion |
| Amarin Corporation PLC (AMRN) | $28.90 Million | 14.19% | 0.23x | $303.32 Million |
| AstraZeneca PLC (AZN) | $48.72 Billion | 21.05% | 1.34x | $296.35 Billion |
| Bayer AG (BAYZF) | $31.90 Billion | 14.21% | 1.58x | $21.61 Billion |
| Biogen Inc (BIIB) | $325.20 Million | 9.96% | 0.10x | $26.81 Billion |
| Bristol-Myers Squibb Company (BMY) | $5.08 Billion | 14.69% | 0.67x | $121.36 Billion |
| Chugai Pharmaceutical Co. Ltd (CHGCF) | $1.90 Trillion | 20.37% | 0.16x | $28.30 Billion |
| Cosmo Pharmaceuticals N.V (CMOPF) | $220.16 Million | 31.22% | 0.10x | $529.97 Million |