Wall Street analyst estimates for Novartis AG (NVS): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Novartis AG is a holding company, which engages in the business of developing, manufacturing, and marketing healthcare products. Its product portfolio is heavily focused on innovative prescription medicines, especially oncology, immunology, neuroscience, and cardiovascular diseases, supplemented by established older brands and a wide range of specialized therapies. The company was founded on February 29, 1996 and is headquartered in Basel, Switzerland.
Consensus price target
$149.50 (-7 % vs price $161.10)
between $136.00 and $163.00 · 3 targets published in the last quarter
Closing price, Oct 29
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2027E | $60.9B | $59.9B – $62.2B | $9.77 | 9 |
Figures in USD · consensus as of October 29, 2026
Analyst Consensus
| Strong Buy | 0 |
| Buy | 6 |
| Hold | 17 |
| Sell | 2 |
| Strong Sell | 0 |
| Total analysts | 25 |
| Avg rating (−2 sell to +2 buy) | 0.16 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2027-02-03 | $2.21 | ||
| 2026-10-27 | $2.46 | $2.25 | +9.3% |
| 2026-07-21 | $2.41 | $2.17 | +11.1% |
| 2026-04-28 | $1.99 | $2.11 | -5.7% |
| 2026-02-04 | $2.03 | $1.99 | +2.0% |
| 2025-10-28 | $2.25 | $2.26 | -0.4% |
| 2025-07-17 | $2.42 | $2.38 | +1.7% |
| 2025-04-29 | $2.28 | $2.12 | +7.5% |
Valuation Ratios
| P/E Ratio | 24.30 |
| Price / Book | 8.16 |
| EV / EBITDA | 14.88 |
| Dividend Yield | 2.77% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.44B | $43.40B | $46.10B | $48.68B | $49.90B | $43.97B | $43.46B | $46.66B | $51.72B | $54.81B |
| Cost of Revenue | $17.52B | $13.63B | $14.51B | $14.43B | $15.12B | $11.73B | $11.58B | $12.47B | $12.83B | $13.69B |
| Gross Profit | $31.92B | $29.77B | $31.59B | $34.25B | $34.78B | $32.24B | $31.88B | $34.19B | $38.90B | $41.12B |
| Research & Development | $9.04B | $8.39B | $8.49B | $9.40B | $8.98B | $8.64B | $9.17B | $11.37B | $10.02B | $10.74B |
| Selling, General & Admin | $14.19B | $12.46B | $13.72B | $14.37B | $14.20B | $12.83B | $12.19B | $12.52B | $12.57B | $13.31B |
| Operating Expenses | $23.65B | $21.07B | $23.19B | $25.17B | $24.62B | $22.18B | $23.93B | $24.42B | $24.35B | $24.05B |
| Operating Income | $8.27B | $8.70B | $8.40B | $9.09B | $10.15B | $10.06B | $7.95B | $9.77B | $14.54B | $17.07B |
| EBITDA | $14.57B | $14.59B | $20.24B | $15.62B | $17.21B | $30.91B | $14.68B | $18.25B | $20.71B | $22.99B |
| Interest Expense | $729.0M | $802.0M | $973.2M | $902.9M | $921.0M | $905.0M | $834.6M | $876.1M | $1.04B | $1.19B |
| Pre-tax Income | $7.82B | $9.10B | $14.10B | $8.94B | $9.88B | $24.53B | $7.18B | $9.12B | $13.64B | $16.44B |
| Income Tax | $1.12B | $1.60B | $1.29B | $1.79B | $1.81B | $1.62B | $1.13B | $551.0M | $1.70B | $2.40B |
| Net Income | $6.71B | $7.70B | $12.61B | $11.73B | $8.07B | $24.02B | $6.96B | $14.85B | $11.94B | $14.06B |
| EPS | $2.82 | $3.28 | $5.44 | $3.12 | $3.54 | $10.71 | $3.19 | $7.15 | $5.92 | $7.25 |
| EPS (Diluted) | $2.80 | $3.25 | $5.38 | $3.08 | $3.52 | $10.63 | $3.17 | $7.10 | $5.87 | $7.19 |
| Shares Outstanding (Diluted) | 2,400.0 M | 2,371.0 M | 2,344.0 M | 2,319.0 M | 2,296.0 M | 2,260.0 M | 2,197.0 M | 2,092.0 M | 2,035.0 M | 1,955.0 M |
Price
| Price | $161.10 (closing price, October 29, 2026) |
| Market Cap | $304.3B |
| Exchange | NYSE |
| Country | CH |
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Explore sector: Healthcare · Drug Manufacturers - General
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