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Novartis Valuation Multiples

Discover revenue and EBITDA valuation multiples for Novartis and similar public comparables like Vivoryon Therapeutics, Julphar, and Armata Pharmaceuticals.

Novartis Overview

About Novartis

Novartis develops and manufactures innovative drugs. Key areas of drug development include oncology, rare diseases, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The company sells its products globally, with the United States comprising close to one third of total revenue.


Founded

1996

HQ

Switzerland
Employees

75.9K+

Website

novartis.com

Financials

LTM Revenue $45.3B

LTM EBITDA $18.5B

EV

$244B

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Novartis Financials

Novartis has a last 12-month revenue of $45.3B and a last 12-month EBITDA of $18.5B.

In the most recent fiscal year, Novartis achieved revenue of $62.1B and an EBITDA of $24.9B.

Novartis expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Novartis P&L

LTM NTM FY 2025 FY 2026 FY 2027
Revenue $45.3B XXX XXX XXX XXX
Gross Profit $35.5B XXX XXX XXX XXX
Gross Margin 78% XXX XXX XXX XXX
EBITDA $18.5B XXX XXX XXX XXX
EBITDA Margin 41% XXX XXX XXX XXX
EBIT $17.6B XXX XXX XXX XXX
EBIT Margin 39% XXX XXX XXX XXX
Net Profit $14.2B XXX XXX XXX XXX
Net Margin 31% XXX XXX XXX XXX
Net Debt $21.6B XXX XXX XXX XXX

Financial data powered by Morningstar, Inc.

Novartis Stock Performance

As of May 30, 2025, Novartis's stock price is CHF 93 (or $111).

Novartis has current market cap of CHF 183B (or $220B), and EV of CHF 203B (or $244B).

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Novartis Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$244B $220B XXX XXX XXX XXX $8.54

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Novartis Valuation Multiples

As of May 30, 2025, Novartis has market cap of $220B and EV of $244B.

Novartis's trades at 4.5x EV/LTM Revenue multiple, and 11.0x EV/LTM EBITDA.

Equity research analysts estimate Novartis's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Novartis has a P/E ratio of 12.9x.

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Novartis Financial Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Market cap (current) $220B XXX XXX XXX XXX
EV (current) $244B XXX XXX XXX XXX
EV/Revenue 4.5x XXX XXX XXX XXX
EV/EBITDA 11.0x XXX XXX XXX XXX
EV/EBIT 11.5x XXX XXX XXX XXX
EV/Gross Profit 5.7x XXX XXX XXX XXX
P/E 12.9x XXX XXX XXX XXX
EV/FCF 14.8x XXX XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Novartis Margins & Growth Rates

Novartis's last 12 month revenue growth is 0%

Novartis's revenue per employee for the last 12 months averaged $0.8M, while opex per employee averaged $0.4M for the same period.

Novartis's rule of 40 is 39% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Novartis's rule of X is 40% (another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Novartis Operational Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Revenue Growth 0% XXX XXX XXX XXX
EBITDA Margin 41% XXX XXX XXX XXX
EBITDA Growth -1% XXX XXX XXX XXX
Rule of 40 39% XXX XXX XXX XXX
Bessemer Rule of X 40% XXX XXX XXX XXX
Revenue per Employee $0.8M XXX XXX XXX XXX
Opex per Employee $0.4M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 19% XXX XXX XXX XXX
Opex to Revenue 47% XXX XXX XXX XXX

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Novartis Public Comps

See public comps and valuation multiples for Biopharmaceuticals and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
Armata Pharmaceuticals XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Novartis M&A and Investment Activity

Novartis acquired  XXX companies to date.

Last acquisition by Novartis was  XXXXXXXX, XXXXX XXXXX XXXXXX . Novartis acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Novartis

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Novartis

When was Novartis founded? Novartis was founded in 1996.
Where is Novartis headquartered? Novartis is headquartered in Switzerland.
How many employees does Novartis have? As of today, Novartis has 75.9K+ employees.
Who is the CEO of Novartis? Novartis's CEO is Dr. Vasant Narasimhan.
Is Novartis publicy listed? Yes, Novartis is a public company listed on SWX.
What is the stock symbol of Novartis? Novartis trades under NOVN ticker.
When did Novartis go public? Novartis went public in 2001.
Who are competitors of Novartis? Similar companies to Novartis include e.g. Julphar, Galapagos, Pharming, Vivoryon Therapeutics.
What is the current market cap of Novartis? Novartis's current market cap is $220B
What is the current revenue of Novartis? Novartis's last 12 months revenue is $45.3B.
What is the current revenue growth of Novartis? Novartis revenue growth (NTM/LTM) is 0%.
What is the current EV/Revenue multiple of Novartis? Current revenue multiple of Novartis is 4.5x.
Is Novartis profitable? Yes, Novartis is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Novartis? Novartis's last 12 months EBITDA is $18.5B.
What is Novartis's EBITDA margin? Novartis's last 12 months EBITDA margin is 41%.
What is the current EV/EBITDA multiple of Novartis? Current EBITDA multiple of Novartis is 11.0x.
What is the current FCF of Novartis? Novartis's last 12 months FCF is $13.7B.
What is Novartis's FCF margin? Novartis's last 12 months FCF margin is 30%.
What is the current EV/FCF multiple of Novartis? Current FCF multiple of Novartis is 14.8x.

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