80/100B160.420
USD
-2.88
(-1.76%)
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Last updated: · Delayed 15 min
Fair value128.72Plus+25%103Price 160.42634
Q4 FY2026 · Earnings report
EPS estimate 2.23Revenue estimate 14.65B
Q4 FY2026 · Earnings report
EPS estimate 2.23Revenue estimate 14.65B
Novartis return on equity (ROE)What is return on equity (ROE)? Return on equity (ROE) is a year of net income divided by shareholders' equity: the profit a company makes on each dollar its owners have in it.
Novartis's return on equity is 34.28%: net income of 12.76B USD over the last twelve months on shareholders' equity of 37.23B USD.
- Today
- 34.28%
- Average, 5 years
- 27.35%
- Low, 5 years
- 11.31%
- High, 5 years
- 39.29%
ROE (return on equity) = net income (last 12 months) ÷ shareholders' equity = 12.76B ÷ 37.23B = 34.28%
ROE (return on equity)
Net income
Shareholders' equity
Each quarter's net income over its last four quarters, over the shareholders' equity at the quarter end.
Why is Novartis's return on equity so high?What is DuPont analysis? DuPont analysis splits return on equity into three parts: profit margin, asset turnover and the equity multiplier. It shows whether a high ROE comes from profits, from using assets well, or from debt.
Net margin
25.5%
profit on each dollar of sales
×
Asset turnover
0.47×
sales on each dollar of assets
×
Equity multiplier
2.51×
assets on each dollar of equity
=
Return on equity
30.3%
FY2025
- FY202525.5% × 0.47 × 2.51 = 30.3%
- FY202423.1% × 0.51 × 2.32 = 27.1%
- FY202331.8% × 0.47 × 2.14 = 31.8%
- FY202216.0% × 0.37 × 1.98 = 11.7%
- FY202154.6% × 0.33 × 1.95 = 35.5%
The DuPont breakdown, on each year-end's assets and equity, as the return on equity elsewhere on this page. A high equity multiplier means a small equity base: debt, or buybacks that return the equity to shareholders, lift the return on what is left.
ROE (return on equity) by year and by quarter
| Fiscal year | Period ending | ROE (return on equity) | Net income | Shareholders' equity |
|---|---|---|---|---|
| Today | 34.28% | 12.76B | 37.23B | |
| FY2025 | 31 Dec 2025 | 30.47% | 14.06B | 46.13B |
| FY2024 | 31 Dec 2024 | 27.11% | 11.94B | 44.05B |
| FY2023 | 31 Dec 2023 | 18.37% | 8.57B | 46.67B |
| FY2022 | 31 Dec 2022 | 10.19% | 6.05B | 59.34B |
| FY2021 | 31 Dec 2021 | 33.86% | 22.91B | 67.66B |
| FY2020 | 31 Dec 2020 | 14.26% | 8.07B | 56.60B |
| FY2019 | 31 Dec 2019 | 12.88% | 7.15B | 55.47B |
| FY2018 | 31 Dec 2018 | 16.05% | 12.61B | 78.61B |
| FY2017 | 31 Dec 2017 | 10.39% | 7.70B | 74.17B |
| FY2016 | 31 Dec 2016 | 8.95% | 6.70B | 74.83B |
| FY2015 | 31 Dec 2015 | 9.12% | 7.03B | 77.05B |
| FY2014 | 31 Dec 2014 | 15.16% | 10.73B | 70.77B |
| FY2013 | 31 Dec 2013 | 12.50% | 9.29B | 74.34B |
| FY2012 | 31 Dec 2012 | 13.92% | 9.62B | 69.09B |
| FY2011 | 31 Dec 2011 | 14.04% | 9.25B | 65.84B |
| FY2010 | 31 Dec 2010 | 15.77% | 9.97B | 63.20B |
| FY2009 | 31 Dec 2009 | 14.73% | 8.45B | 57.39B |
| FY2008 | 31 Dec 2008 | 16.23% | 8.16B | 50.29B |
| FY2007 | 31 Dec 2007 | 13.29% | 6.54B | 49.22B |
| FY2006 | 31 Dec 2006 | 17.07% | 7.02B | 41.11B |
| FY2005 | 31 Dec 2005 | 18.61% | 6.14B | 32.99B |
| FY2004 | 31 Dec 2004 | 17.07% | 5.77B | 33.78B |
| FY2003 | 31 Dec 2003 | 16.48% | 5.02B | 30.43B |
| FY2002 | 31 Dec 2002 | 18.43% | 5.22B | 28.34B |
| FY2001 | 31 Dec 2001 | 16.63% | 4.24B | 25.50B |
| FY2000 | 31 Dec 2000 | 19.55% | 4.40B | 22.48B |
| FY1999 | 31 Dec 1999 | 17.89% | 4.19B | 23.41B |
| FY1998 | 31 Dec 1998 | 19.57% | 4.41B | 22.52B |
| Quarter | Period ending | ROE (return on equity) | Net income | Shareholders' equity |
|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 26.95% | 10.03B | 37.23B |
| Q2 FY2026 | 30 Jun 2026 | 30.72% | 12.76B | 41.54B |
| Q1 FY2026 | 31 Mar 2026 | 35.10% | 13.52B | 38.51B |
| Q4 FY2025 | 31 Dec 2025 | 30.28% | 13.97B | 46.13B |
| Q3 FY2025 | 29 Sept 2025 | 32.43% | 14.38B | 44.33B |
| Q2 FY2025 | 30 Jun 2025 | 32.48% | 13.64B | 41.99B |
| Q1 FY2025 | 31 Mar 2025 | 33.51% | 12.86B | 38.37B |
| Q4 FY2024 | 31 Dec 2024 | 27.11% | 11.94B | 44.05B |
| Q3 FY2024 | 30 Sept 2024 | 27.25% | 11.80B | 43.32B |
| Q2 FY2024 | 30 Jun 2024 | 24.26% | 10.13B | 41.73B |
| Q1 FY2024 | 31 Mar 2024 | 23.07% | 9.15B | 39.68B |
| Q4 FY2023 | 31 Dec 2023 | 18.77% | 8.76B | 46.67B |
| Q3 FY2023 | 30 Sept 2023 | 19.76% | 7.54B | 38.16B |
| Q2 FY2023 | 30 Jun 2023 | 14.20% | 7.36B | 51.85B |
| Q1 FY2023 | 31 Mar 2023 | 13.03% | 6.79B | 52.06B |
| Q4 FY2022 | 31 Dec 2022 | 11.31% | 6.71B | 59.34B |
| Q3 FY2022 | 30 Sept 2022 | 35.43% | 21.55B | 60.82B |
| Q2 FY2022 | 30 Jun 2022 | 36.52% | 22.98B | 62.93B |
| Q1 FY2022 | 31 Mar 2022 | 39.29% | 24.18B | 61.54B |
| Q4 FY2021 | 31 Dec 2021 | 35.50% | 24.02B | 67.66B |
| Q3 FY2021 | 30 Sept 2021 | 17.28% | 9.81B | 56.77B |
| Q2 FY2021 | 30 Jun 2021 | 16.63% | 8.99B | 54.04B |
| Q1 FY2021 | 31 Mar 2021 | 15.75% | 7.96B | 50.52B |
| Q4 FY2020 | 31 Dec 2020 | 14.26% | 8.07B | 56.60B |
| Q3 FY2020 | 30 Sept 2020 | 13.03% | 7.10B | 54.48B |
| Q2 FY2020 | 30 Jun 2020 | 13.40% | 7.21B | 53.81B |
| Q1 FY2020 | 31 Mar 2020 | 14.64% | 7.45B | 50.90B |
| Q4 FY2019 | 31 Dec 2019 | 12.88% | 7.15B | 55.47B |
| Q3 FY2019 | 30 Sept 2019 | 13.73% | 7.21B | 52.52B |
| Q2 FY2019 | 30 Jun 2019 | 13.71% | 7.05B | 51.43B |
| Q1 FY2019 | 31 Mar 2019 | 26.92% | 12.71B | 47.23B |
| Q4 FY2018 | 31 Dec 2018 | 16.37% | 12.87B | 78.61B |
| Q3 FY2018 | 30 Sept 2018 | 17.52% | 13.65B | 77.94B |
| Q2 FY2018 | 30 Jun 2018 | 18.04% | 13.86B | 76.82B |
| Q1 FY2018 | 31 Mar 2018 | 11.34% | 8.07B | 71.10B |
| Q4 FY2017 | 31 Dec 2017 | 10.39% | 7.70B | 74.17B |
| Q3 FY2017 | 30 Sept 2017 | 9.21% | 6.66B | 72.31B |
| Q2 FY2017 | 30 Jun 2017 | 9.33% | 6.53B | 69.92B |
| Q1 FY2017 | 31 Mar 2017 | 9.40% | 6.35B | 67.59B |
| Q4 FY2016 | 31 Dec 2016 | 8.95% | 6.70B | 74.83B |
| Q3 FY2016 | 30 Sept 2016 | 9.09% | 6.82B | 74.98B |
| Q2 FY2016 | 30 Jun 2016 | 9.22% | 6.68B | 72.46B |
| Q1 FY2016 | 31 Mar 2016 | 9.38% | 6.73B | 71.81B |
| Q4 FY2015 | 31 Dec 2015 | 9.12% | 7.03B | 77.05B |
| Q3 FY2015 | 30 Sept 2015 | 10.98% | 8.42B | 76.71B |
| Q2 FY2015 | 30 Jun 2015 | 12.33% | 9.71B | 78.76B |
| Q1 FY2015 | 31 Mar 2015 | 13.85% | 10.58B | 76.38B |
| Q4 FY2014 | 31 Dec 2014 | 15.88% | 11.24B | 70.77B |
| Q3 FY2014 | 30 Sept 2014 | 15.21% | 10.85B | 71.34B |
| Q2 FY2014 | 30 Jun 2014 | 14.23% | 10.01B | 70.39B |
| Q1 FY2014 | 31 Mar 2014 | 14.01% | 9.84B | 70.21B |
| Q4 FY2013 | 31 Dec 2013 | 12.50% | 9.29B | 74.34B |
| Q3 FY2013 | 30 Sept 2013 | 12.93% | 9.32B | 72.05B |
| Q2 FY2013 | 30 Jun 2013 | 13.63% | 9.47B | 69.49B |
| Q1 FY2013 | 31 Mar 2013 | 14.32% | 9.60B | 67.03B |
| Q4 FY2012 | 31 Dec 2012 | 13.75% | 9.50B | 69.09B |
| Q3 FY2012 | 30 Sept 2012 | 12.86% | 8.63B | 67.08B |
| Q2 FY2012 | 30 Jun 2012 | 13.57% | 8.70B | 64.13B |
| Q1 FY2012 | 31 Mar 2012 | 13.87% | 8.75B | 63.11B |
| Q4 FY2011 | 31 Dec 2011 | 14.04% | 9.25B | 65.84B |
| Q3 FY2011 | 30 Sept 2011 | 15.57% | 10.30B | 66.14B |
| Q2 FY2011 | 30 Jun 2011 | 15.10% | 10.13B | 67.09B |
| Q1 FY2011 | 31 Mar 2011 | 15.06% | 9.84B | 65.34B |
| Q4 FY2010 | 31 Dec 2010 | 15.77% | 9.97B | 63.20B |
| Q3 FY2010 | 30 Sept 2010 | 15.14% | 10.03B | 66.22B |
| Q2 FY2010 | 30 Jun 2010 | 17.59% | 9.82B | 55.82B |
| Q1 FY2010 | 31 Mar 2010 | 17.07% | 9.43B | 55.22B |
| Q4 FY2009 | 31 Dec 2009 | 14.73% | 8.45B | 57.39B |
| Q3 FY2009 | 30 Sept 2009 | 14.33% | 7.64B | 53.31B |
| Q2 FY2009 | 30 Jun 2009 | 15.07% | 7.61B | 50.49B |
| Q1 FY2009 | 31 Mar 2009 | 16.94% | 7.83B | 46.23B |
| Q4 FY2008 | 31 Dec 2008 | 16.23% | 8.16B | 50.29B |
| Q3 FY2008 | 30 Sept 2008 | 14.95% | 7.59B | 50.74B |
| Q2 FY2008 | 30 Jun 2008 | 13.72% | 7.08B | 51.61B |
| Q1 FY2008 | 31 Mar 2008 | 13.60% | 6.70B | 49.27B |
| Q4 FY2007 | 31 Dec 2007 | 13.29% | 6.54B | 49.22B |
| Q3 FY2007 | 30 Sept 2007 | 14.32% | 7.09B | 49.49B |
| Q2 FY2007 | 30 Jun 2007 | 16.91% | 7.39B | 43.66B |
| Q1 FY2007 | 31 Mar 2007 | 17.81% | 7.21B | 40.50B |
| Q4 FY2006 | 31 Dec 2006 | 17.07% | 7.02B | 41.11B |
| Q3 FY2006 | 30 Sept 2006 | 17.86% | 6.89B | 38.59B |
| Q2 FY2006 | 30 Jun 2006 | 17.99% | 6.69B | 37.16B |
| Q1 FY2006 | 31 Mar 2006 | 19.61% | 6.62B | 33.75B |
| Q4 FY2005 | 31 Dec 2005 | 18.61% | 6.14B | 32.99B |
| Q3 FY2005 | 30 Sept 2005 | 19.43% | 6.17B | 31.74B |
| Q2 FY2005 | 30 Jun 2005 | 19.90% | 6.05B | 30.39B |
| Q1 FY2005 | 31 Mar 2005 | 20.20% | 5.95B | 29.46B |
| Q4 FY2004 | 31 Dec 2004 | 17.07% | 5.77B | 33.78B |
| Q3 FY2004 | 30 Sept 2004 | 18.55% | 5.75B | 30.99B |
| Q2 FY2004 | 30 Jun 2004 | 18.17% | 5.48B | 30.16B |
| Q1 FY2004 | 31 Mar 2004 | 17.89% | 5.25B | 29.33B |
| Q4 FY2003 | 31 Dec 2003 | 16.48% | 5.02B | 30.43B |
| Q3 FY2003 | 30 Sept 2003 | 17.88% | 5.09B | 28.44B |
| Q2 FY2003 | 30 Jun 2003 | 18.94% | 5.00B | 26.42B |
| Q1 FY2003 | 31 Mar 2003 | 18.72% | 5.24B | 28.01B |
| Q4 FY2002 | 31 Dec 2002 | 18.60% | 5.27B | 28.34B |
| Q3 FY2002 | 30 Sept 2002 | 17.88% | 4.63B | 25.87B |
| Q2 FY2002 | 30 Jun 2002 | 16.61% | 4.64B | 27.94B |
| Q1 FY2002 | 31 Mar 2002 | — | 4.29B | — |
| Q4 FY2001 | 31 Dec 2001 | 16.75% | 4.27B | 25.50B |
| Q3 FY2001 | 30 Sept 2001 | — | 4.33B | — |
| Q2 FY2001 | 30 Jun 2001 | 19.84% | 4.08B | 20.55B |
| Q1 FY2001 | 31 Mar 2001 | — | 4.32B | — |
| Q4 FY2000 | 31 Dec 2000 | 20.06% | 4.51B | 22.48B |
| Q3 FY2000 | 30 Sept 2000 | — | — | — |
| Q2 FY2000 | 30 Jun 2000 | — | — | 23.16B |
| Q1 FY2000 | 31 Mar 2000 | — | — | — |
Figures in USD. A quarter's revenue, net income and dividends are those of its last four quarters.
See also:P/E ratio,Market cap,P/S ratio,Dividend yield,Debt to equity,Current ratio,All ratios
Common questions about Novartis's ROE
Source: Financial Modeling Prep