Novartis AG (NVS) annual results, year to 31 December 2023: revenue USD 45,440 million, from the 20-F
Novartis AG files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2023 it reported revenue from the sale of goods of USD 45,440 million, up 7.7% on the year before. Its profit attributable to shareholders was USD 14,850 million, up 113.5%, and diluted earnings per share USD 7.10.
The year to 31 December 2023, against the year before
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Revenue from the sale of goods | 42,206 | 45,440 |
| Cost of sales | 11,582 | 12,472 |
| Gross profit | 31,879 | 34,188 |
| Research and development | 9,172 | 11,371 |
| Selling, general and administrative | 12,193 | 12,517 |
| Operating profit | 7,946 | 9,769 |
| Profit before tax | 7,177 | 9,123 |
| Income tax | 1,128 | 551 |
| Profit for the year | 6,955 | 14,854 |
| Profit attributable to shareholders | 6,955 | 14,850 |
| Filing | 20-F | 20-F |
USD million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
USD per ordinary share, as filed.
Cash flow
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Cash from operations | 14,236 | 14,458 |
| Purchase of property, plant and equipment | 916 | 1,060 |
| Free cash flow | 13,320 | 13,398 |
| Dividends paid | 7,506 | 7,255 |
| Filing | 20-F | 20-F |
USD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Total assets | 117,453 | 99,945 |
| Equity attributable to shareholders | 59,342 | 46,667 |
| Cash and cash equivalents | 7,517 | 13,393 |
| Borrowings, as filed | 22,485 | 20,627 |
| Lease liabilities | 1,789 | 1,828 |
| Inventories | 7,175 | 5,913 |
| Goodwill | 29,301 | 23,341 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2022 † | Dec 2023 |
|---|---|---|
| Return on year-end equity | 11.7% | 31.8% |
| Effective tax rate | 15.7% | 6.0% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
Every annual report here
- Year to 31 December 2025
- Year to 31 December 2024
- Year to 31 December 2023, this page
- Year to 31 December 2022
- Year to 31 December 2021
- Year to 31 December 2020
- Year to 31 December 2019
- Year to 31 December 2018
- Year to 31 December 2017
- Year to 31 December 2016
Source
20-F for the year to 31 December 2023, filed 4 February 2026, accession 0001114448-26-000004: the filing on EDGAR. All of Novartis AG's filings: EDGAR company page. The figures are in US dollars as filed.
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