Novartis AG Ratios | P/E, ROE & Valuation

On the Key Ratios page for Novartis AG (NVS), the latest P/E of 24.5 frames valuation, while ROE 29.64% and ROIC 13.38% indicates profitability and capital efficiency. Together with the current ratio of 0.86 and debt-to-equity 1.18, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

NVS Historical Per Share Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Revenue per Share$28.76$25.63$22.33$19.93$19.61$21.91$21.25$19.88$18.50$20.79
Net Income per Share$6.64$5.92$7.11$3.19$10.71$3.55$5.12$5.44$3.28$2.82
Operating Cash Flow per Share$9.49$8.73$6.92$6.53$6.72$5.99$5.95$6.15$5.38$4.83
Free Cash Flow per Share$8.38$6.84$5.60$5.30$5.40$4.86$4.96$4.71$4.21$3.61
Cash per Share$4.05$6.62$6.68$8.53$12.54$4.96$4.90$6.88$4.04$3.27
Book Value per Share$22.08$21.87$22.37$27.24$30.24$24.89$24.25$33.93$31.64$31.49
Tangible Book Value per Share$-14.16$-3.74$-1.66$-0.70$1.80$-4.45$0.10$2.02$5.32$5.29
Interest Debt per Share$26.52$15.99$13.05$13.19$14.24$17.05$13.12$14.25$12.46$10.26
CAPEX per Share$1.11$1.89$1.32$1.22$1.32$1.14$0.99$1.45$1.17$1.21

NVS Historical Valuation Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Price to Earnings (P/E)24.5116.5114.228.358.2226.6518.5313.9122.7322.77
Price to Book (P/B)7.394.474.523.322.923.83.922.232.362.04
Price to Sales (P/S)5.63.814.524.544.494.314.473.84.033.09
Enterprise Value to EBITDA15.8110.4712.2614.826.9914.1415.079.613.3511.63
EV to Sales6.364.194.85.014.914.884.844.214.493.43
EV to Operating Cash Flow19.2712.3115.4915.2814.3317.8317.2813.6115.4314.77
EV to Free Cash Flow21.8215.7119.1318.8117.8521.9920.7117.7919.7119.72
Enterprise Value$348.52B$216.89B$223.89B$217.56B$215.96B$243.35B$235.38B$194.22B$194.69B$169.48B

NVS Historical Profitability Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Return on Equity (ROE)29.64%27.11%31.82%11.72%35.51%14.26%21.15%16.04%10.39%8.97%
Return on Invested Capital (ROIC)13.38%15.55%11.49%7.06%8.69%7.93%7.47%6.08%6.24%6.23%
Return on Tangible Assets23.72%23.61%29.86%12.31%35.32%13.24%18.60%17.63%10.80%9.90%
Earnings Yield4.11%6.06%7.04%3.53%12.17%3.75%5.40%7.19%4.40%4.39%
Free Cash Flow Yield5.20%7.00%5.55%5.87%6.13%5.14%5.23%6.22%5.64%5.63%
Dividend Yield2.82%3.87%3.44%3.81%3.73%3.25%3.06%3.97%3.71%4.24%

NVS Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202420232022202120202019201820172016
Current Ratio0.861.041.161.291.510.91.041.21.211.12
Interest Coverage11.8814.4610.659.2411.1110.389.948.7410.8811.78
Income Quality1.431.481.692.050.631.691.911.131.641.71
Debt to Equity1.180.710.560.470.460.670.530.410.380.32
Debt to Assets40.16%30.57%26.36%23.76%23.54%29.63%24.62%22.05%21.36%18.20%
Net Debt to EBITDA1.880.960.711.390.61.641.150.931.341.14

NVS Historical Efficiency Ratios

10 years
Metric (FY)TTM202420232022202120202019201820172016
Receivables Turnover5.545.424.984.394.574.974.714.183.914.85
Payables Turnover3.32.812.532.252.112.82.662.612.643.6
Inventory Turnover2.262.242.111.611.762.122.412.091.992.8
Days Sales Outstanding65.8367.3273.3483.0979.8673.4177.5187.2993.3475.32
Days Payables Outstanding110.63130.1144.16162.17172.72130.42137.25139.76138.39101.52
Days of Inventory on Hand161.6162.85173.05226.12207.34172.13151.36174.98183.85130.31

NVS Historical Market Metrics

10 years
Metric (FY)TTM202420232022202120202019201820172016
Enterprise Value to EBITDA15.8110.4712.2614.826.9914.1415.079.613.3511.63
Market Cap$307.01B$197.09B$210.93B$197.17B$197.34B$215.16B$217.34B$175.40B$175.12B$152.80B
Enterprise Value$348.52B$216.89B$223.89B$217.56B$215.96B$243.35B$235.38B$194.22B$194.69B$169.48B
Dividend Yield2.82%3.87%3.44%3.81%3.73%3.25%3.06%3.97%3.71%4.24%
Payout Ratio67.77%63.85%48.86%107.92%30.67%86.56%56.64%55.24%84.32%96.47%

Frequently Asked Questions

How does Novartis AG’s P/E ratio compare with its history?

On this page, NVS's current P/E is 24.5, compared with a multi-year average around 19.6. A higher P/E versus its own history is a calculated premium versus that average—not a conclusion that the stock is expensive. Cross-check profitability (ROE/ROIC), liquidity (current ratio), and leverage (debt-to-equity) so the multiple is read with those published figures.

What is Novartis AG market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $307.01B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

How does Novartis AG’s P/E compare with its industry?

There is no P/E Tickerplace rates as good. Compare the P/E on this page with Novartis AG's own historical range (in the table) and with peers via the Screener and Compare tools. A higher or lower multiple versus peers is a calculated gap, not a recommendation.

How does Novartis AG compare to its competitors in key financial ratios?

The fastest way to compare Novartis AG with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see Novartis AG outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

What do Novartis AG's liquidity and leverage ratios show?

Liquidity and leverage figures on this page are published ratios, not a verdict that Novartis AG is financially strong. Current ratio is about 0.86, which is below 1.0 and can suggest tighter short-term liquidity. Interest coverage is about 11.88, implying a stronger ability to cover interest expenses. Debt-to-equity is about 1.18, suggesting leverage is more moderate relative to a high-debt profile. Pair them with ROE/ROIC and cash-flow rows in the table. Tickerplace does not rate the company as a good or poor investment.

What do Novartis AG's financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If Novartis AG is sustaining strong returns (for example ROE at 29.64% and ROIC at 13.38%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.