What is the current annual free cash flow of NVS?

As of today, NVS annual free cash flow is $15.32B

What is 1-year change in NVS annual free cash flow?

NVS annual free cash flow is up +11.05% year-over-year

What is 3-year change in NVS annual free cash flow?

NVS annual free cash flow is up +27.48% over the past 3 years

How far is NVS annual free cash flow from its all-time high?

NVS annual free cash flow is currently at its all-time high

How does NVS annual free cash flow rank versus sector peers?

NVS annual free cash flow is higher than 99.73% of companies in Healthcare sector

When is NVS next annual earnings release?

The next annual earnings release for NVS is on February 3, 2027

What is the current quarterly free cash flow of NVS?

As of today, NVS quarterly free cash flow is $4.74B

What is NVS quarterly free cash flow most recent change?

NVS quarterly free cash flow was down -7.52% on September 30, 2026

What is 1-year change in NVS quarterly free cash flow?

NVS quarterly free cash flow is down -17.41% year-over-year

How far is NVS quarterly free cash flow from its all-time high?

NVS quarterly free cash flow is currently -50.34% below its historical high of $9.55B set on September 30, 2007

How does NVS quarterly free cash flow rank versus sector peers?

NVS quarterly free cash flow is higher than 99.51% of companies in Healthcare sector

When is NVS next earnings release?

The next earnings release for NVS is on February 3, 2027

What is the current TTM free cash flow of NVS?

As of today, NVS TTM free cash flow is $13.99B

What is NVS TTM free cash flow most recent change?

NVS TTM free cash flow was down -6.67% on September 30, 2026

What is 1-year change in NVS TTM free cash flow?

NVS TTM free cash flow is down -18.41% year-over-year

How far is NVS TTM free cash flow from its all-time high?

NVS TTM free cash flow is currently -18.41% below its historical high of $17.15B set on September 29, 2025

How does NVS TTM free cash flow rank versus sector peers?

NVS TTM free cash flow is higher than 99.51% of companies in Healthcare sector

When is NVS next earnings release?

The next earnings release for NVS is on February 3, 2027

Novartis AG (NVS) Free Cash Flow History & Chart Since 1993

Annual FCF

$15.32B$1.52B+11.05%

December 31, 2025

Summary

Current Value: As of today, NVS annual free cash flow is $15.32B, up +11.05% on December 31, 2025
Historical Performance: NVS annual free cash flow is up +27.48% over the past 3 years, up +39.24% over the past 5 years
All-Time High Comparison: NVS annual free cash flow is currently at its all-time high
3-Year Low Comparison: NVS annual free cash flow is +30.90% above its 3-year low of $11.71B reached on December 31, 2023
Sector Comparison: NVS annual free cash flow is higher than 99.73% of companies in Healthcare sector

Free Cash Flow Chart

beforeafter

Performance

NVS Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Free Cash Flow	Dec 31, 25	$15.32B	+11.1%	+27.5%	+39.2%	+30.5%
Quarterly Free Cash Flow	Sep 30, 26	$4.74B	-17.4%	+1.1%	+8.5%	+33.9%
TTM Free Cash Flow	Sep 30, 26	$13.99B	-18.4%	+3.0%	+14.9%	+19.0%
Price	Nov 6, 26	$162.55	+28.4%	+73.9%	+94.3%	+223.4%
Annual Cash From Operations	Dec 31, 25	$19.24B	+9.3%	+34.9%	+41.0%	+37.9%
Annual CAPEX	Dec 31, 25	$3.92B	+2.8%	+74.7%	+48.1%	+77.0%
Annual Dividends Paid	Dec 31, 25	$7.86B	+3.1%	+4.5%	+12.5%	+76.6%
Annual Net Income	Dec 31, 25	$14.04B	+17.6%	+131.6%	+72.9%	+42.0%
Annual Revenue	Dec 31, 25	$54.81B	+9.0%	+29.6%	+12.0%	+9.2%

Free Cash Flow Highs

NVS Annual Free Cash Flow Highs Comparison
Period	High	Date	Current
3Y	$15.32B	Dec 31, 25	at high
5Y	$15.32B	Dec 31, 25	at high
All	$15.32B	Dec 31, 25	at high

Free Cash Flow Lows

NVS Annual Free Cash Flow Lows Comparison
Period	Low	Date	Current
3Y	$11.71B	Dec 31, 23	+30.9%
5Y	$11.00B	N/A	+39.2%
All	-$924.52M	Dec 31, 01	+1757.3%

Free Cash Flow History

Year	Value	Change
2025	$15.32B	+11.1%
2024	$13.80B	+17.9%
2023	$11.71B	-2.6%
2022	$12.02B	-0.2%
2021	$12.04B	+9.4%
2020	$11.00B	-2.7%
2019	$11.31B	-2.6%
2018	$11.61B	+17.2%
2017	$9.90B	+15.2%
2016	$8.60B	+2.4%
2015	$8.39B	-20.0%
2014	$10.49B	+7.1%
2013	$9.80B	-12.0%
2012	$11.13B	-5.7%
2011	$11.80B	+0.5%
2010	$11.74B	+24.6%
2009	$9.42B	+26.4%

Year	Value	Change
2008	$7.45B	+22.6%
2007	$6.08B	+0.0%
2006	$6.07B	-6.0%
2005	$6.46B	+26.3%
2004	$5.12B	+0.9%
2003	$5.07B	+24.0%
2002	$4.09B	+542.3%
2001	-$924.52M	-150.2%
2000	$1.84B	-43.4%
1999	$3.25B	+19.2%
1998	$2.73B	+132.6%
1997	$1.17B	-49.1%
1996	$2.30B	-17.3%
1995	$2.79B	+90.1%
1994	$1.47B	+7.7%
1993	$1.36B	-

FAQ

What is the current annual free cash flow of NVS?: As of today, NVS annual free cash flow is $15.32B
What is 1-year change in NVS annual free cash flow?: NVS annual free cash flow is up +11.05% year-over-year
What is 3-year change in NVS annual free cash flow?: NVS annual free cash flow is up +27.48% over the past 3 years
How far is NVS annual free cash flow from its all-time high?: NVS annual free cash flow is currently at its all-time high
How does NVS annual free cash flow rank versus sector peers?: NVS annual free cash flow is higher than 99.73% of companies in Healthcare sector
When is NVS next annual earnings release?: The next annual earnings release for NVS is on February 3, 2027

Free Cash Flow Formula

FCF = CFO − CAPEX

Quarterly FCF

$4.74B$385.57M-7.52%

September 30, 2026

Summary

Current Value: As of today, NVS quarterly free cash flow is $4.74B, down -7.52% on September 30, 2026
Historical Performance: NVS quarterly free cash flow is down -17.41% year-over-year, up +1.05% over the past 3 years
All-Time High Comparison: NVS quarterly free cash flow is currently -50.34% below its historical high of $9.55B set on September 30, 2007
3-Year Low Comparison: NVS quarterly free cash flow is +327.80% above its 3-year low of $1.11B reached on March 31, 2024
Sector Comparison: NVS quarterly free cash flow is higher than 99.51% of companies in Healthcare sector

Performance

NVS Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Free Cash Flow	Sep 30, 26	$4.74B	-7.5%	-17.4%	+1.1%	+8.5%
Annual Free Cash Flow	Dec 31, 25	$15.32B	–	+11.1%	+27.5%	+39.2%
TTM Free Cash Flow	Sep 30, 26	$13.99B	-6.7%	-18.4%	+3.0%	+14.9%
Price	Nov 6, 26	$162.55	+5.4%	+28.4%	+73.9%	+94.3%
Quarterly Cash From Operations	Sep 30, 26	$5.48B	-6.9%	-16.6%	+1.9%	+11.3%
Quarterly CAPEX	Sep 30, 26	$738.72M	-2.6%	-10.9%	+8.2%	+33.6%
Quarterly Dividends Paid	Sep 30, 26	$19.19M	-99.3%	-35.6%	+100.0%	+100.0%
Quarterly Net Income	Sep 30, 26	$1.19B	-63.5%	-69.7%	-21.4%	-56.9%
Quarterly Revenue	Sep 30, 26	$14.44B	+0.1%	+4.0%	+22.5%	+10.8%

Quarterly Free Cash Flow Highs

NVS Quarterly Free Cash Flow Highs Comparison
Period	High	Date	Current
1Y	$5.74B	N/A	-17.4%
3Y	$6.19B	Jun 30, 25	-23.4%
5Y	$6.19B	Jun 30, 25	-23.4%
All	$9.55B	Sep 30, 07	-50.3%

Quarterly Free Cash Flow Lows

NVS Quarterly Free Cash Flow Lows Comparison
Period	Low	Date	Current
1Y	$1.24B	Dec 31, 25	+283.8%
3Y	$1.11B	Mar 31, 24	+327.8%
5Y	$790.00M	Mar 31, 22	+500.6%
All	$699.56M	Mar 31, 14	+578.2%

Quarterly Free Cash Flow History

Month	Value	Change
Sep 2026	$4.74B	-7.5%
Jun 2026	$5.13B	+78.1%
Mar 2026	$2.88B	+133.0%
Dec 2025	$1.24B	-78.5%
Sep 2025	$5.74B	-7.2%
Jun 2025	$6.19B	+187.8%
Mar 2025	$2.15B	-29.8%
Dec 2024	$3.06B	-44.2%
Sep 2024	$5.49B	+32.3%
Jun 2024	$4.15B	+273.9%
Mar 2024	$1.11B	-37.1%
Dec 2023	$1.76B	-62.4%
Sep 2023	$4.70B	+75.4%
Jun 2023	$2.68B	+4.0%
Mar 2023	$2.57B	-29.1%
Dec 2022	$3.63B	-18.0%
Sep 2022	$4.43B	+39.6%
Jun 2022	$3.17B	+301.5%
Mar 2022	$790.00M	-72.8%
Dec 2021	$2.90B	-33.6%
Sep 2021	$4.37B	+24.7%
Jun 2021	$3.51B	+178.2%
Mar 2021	$1.26B	-58.6%
Dec 2020	$3.04B	+20.5%
Sep 2020	$2.52B	-28.0%
Jun 2020	$3.50B	+74.8%
Mar 2020	$2.00B	-30.4%
Dec 2019	$2.88B	-27.9%
Sep 2019	$3.99B	+50.2%
Jun 2019	$2.66B	+49.0%
Mar 2019	$1.78B	-42.3%
Dec 2018	$3.09B	-4.3%
Sep 2018	$3.23B	-6.4%
Jun 2018	$3.45B	+87.0%
Mar 2018	$1.84B	-25.2%
Dec 2017	$2.47B	-21.4%
Sep 2017	$3.14B	+5.0%
Jun 2017	$2.99B	+127.7%
Mar 2017	$1.31B	-57.3%
Dec 2016	$3.08B	+80.8%
Sep 2016	$1.70B	-36.1%
Jun 2016	$2.66B	+130.2%
Mar 2016	$1.16B	-48.9%
Dec 2015	$2.27B	-11.0%
Sep 2015	$2.55B	+8.7%

Month	Value	Change
Jun 2015	$2.34B	+89.8%
Mar 2015	$1.24B	-65.6%
Dec 2014	$3.60B	-3.7%
Sep 2014	$3.73B	+51.6%
Jun 2014	$2.46B	+252.2%
Mar 2014	$699.56M	-76.3%
Dec 2013	$2.95B	-25.6%
Sep 2013	$3.96B	+150.4%
Jun 2013	$1.58B	+18.3%
Mar 2013	$1.34B	-64.7%
Dec 2012	$3.79B	+11.9%
Sep 2012	$3.38B	+68.8%
Jun 2012	$2.00B	-0.9%
Mar 2012	$2.02B	-47.9%
Dec 2011	$3.88B	+9.7%
Sep 2011	$3.54B	+22.8%
Jun 2011	$2.88B	+94.0%
Mar 2011	$1.49B	-61.4%
Dec 2010	$3.85B	+35.4%
Sep 2010	$2.84B	+29.6%
Jun 2010	$2.19B	-23.3%
Mar 2010	$2.86B	-17.8%
Dec 2009	$3.48B	+34.1%
Sep 2009	$2.59B	+21.7%
Jun 2009	$2.13B	+34.5%
Mar 2009	$1.59B	-39.0%
Dec 2008	$2.60B	+3.0%
Sep 2008	$2.52B	+95.4%
Jun 2008	$1.29B	+3.4%
Mar 2008	$1.25B	-86.9%
Sep 2007	$9.55B	+701.7%
Jun 2007	$1.19B	-29.3%
Mar 2007	$1.69B	+13.7%
Sep 2006	$1.48B	+15.6%
Jun 2006	$1.28B	-37.3%
Mar 2006	$2.05B	+10.2%
Dec 2005	$1.86B	-15.2%
Sep 2005	$2.19B	+25.0%
Jun 2005	$1.75B	+61.0%
Mar 2005	$1.09B	-18.4%
Dec 2004	$1.33B	-23.6%
Sep 2004	$1.74B	+34.2%
Jun 2004	$1.30B	+37.8%
Mar 2004	$943.12M	-60.1%
Dec 2002	$2.36B	-

FAQ

What is the current quarterly free cash flow of NVS?: As of today, NVS quarterly free cash flow is $4.74B
What is NVS quarterly free cash flow most recent change?: NVS quarterly free cash flow was down -7.52% on September 30, 2026
What is 1-year change in NVS quarterly free cash flow?: NVS quarterly free cash flow is down -17.41% year-over-year
How far is NVS quarterly free cash flow from its all-time high?: NVS quarterly free cash flow is currently -50.34% below its historical high of $9.55B set on September 30, 2007
How does NVS quarterly free cash flow rank versus sector peers?: NVS quarterly free cash flow is higher than 99.51% of companies in Healthcare sector
When is NVS next earnings release?: The next earnings release for NVS is on February 3, 2027

Free Cash Flow Formula

FCF = CFO − CAPEX

TTM FCF

$13.99B$1.00B-6.67%

September 30, 2026

Summary

Current Value: As of today, NVS TTM free cash flow is $13.99B, down -6.67% on September 30, 2026
Historical Performance: NVS TTM free cash flow is down -18.41% year-over-year, up +3.05% over the past 3 years
All-Time High Comparison: NVS TTM free cash flow is currently -18.41% below its historical high of $17.15B set on September 29, 2025
3-Year Low Comparison: NVS TTM free cash flow is +36.56% above its 3-year low of $10.25B reached on March 31, 2024
Sector Comparison: NVS TTM free cash flow is higher than 99.51% of companies in Healthcare sector

Performance

NVS Performance
Metric	Date	Value	3M	1Y	3Y	5Y
TTM Free Cash Flow	Sep 30, 26	$13.99B	-6.7%	-18.4%	+3.0%	+14.9%
Annual Free Cash Flow	Dec 31, 25	$15.32B	–	+11.1%	+27.5%	+39.2%
Quarterly Free Cash Flow	Sep 30, 26	$4.74B	-7.5%	-17.4%	+1.1%	+8.5%
Price	Nov 6, 26	$162.55	+5.4%	+28.4%	+73.9%	+94.3%
TTM Cash From Operations	Sep 30, 26	$17.32B	-5.9%	-18.3%	+7.9%	+13.4%
TTM CAPEX	Sep 30, 26	$3.32B	-2.7%	-17.6%	+34.5%	+7.4%
TTM Dividends Paid	Sep 30, 26	$9.12B	-0.1%	+15.0%	+25.1%	+23.0%
TTM Net Income	Sep 30, 26	$10.02B	-21.4%	-30.5%	+38.0%	+2.1%
TTM Revenue	Sep 30, 26	$55.35B	+1.0%	+1.7%	+23.9%	+8.1%

TTM Free Cash Flow Highs

NVS TTM Free Cash Flow Highs Comparison
Period	High	Date	Current
1Y	$17.15B	N/A	-18.4%
3Y	$17.15B	Sep 29, 25	-18.4%
5Y	$17.15B	Sep 29, 25	-18.4%
All	$17.15B	Sep 29, 25	-18.4%

TTM Free Cash Flow Lows

NVS TTM Free Cash Flow Lows Comparison
Period	Low	Date	Current
1Y	$13.99B	Sep 30, 26	at low
3Y	$10.25B	Mar 31, 24	+36.6%
5Y	$10.25B	Mar 31, 24	+36.6%
All	$943.12M	Mar 31, 04	+1383.5%

TTM Free Cash Flow History

Month	Value	Change
Sep 2026	$13.99B	-6.7%
Jun 2026	$14.99B	-6.6%
Mar 2026	$16.05B	+4.8%
Dec 2025	$15.32B	-10.6%
Sep 2025	$17.15B	+1.5%
Jun 2025	$16.89B	+13.8%
Mar 2025	$14.85B	+7.5%
Dec 2024	$13.81B	+10.4%
Sep 2024	$12.51B	+6.8%
Jun 2024	$11.72B	+14.3%
Mar 2024	$10.25B	-12.5%
Dec 2023	$11.71B	-13.7%
Sep 2023	$13.58B	+2.0%
Jun 2023	$13.31B	-3.6%
Mar 2023	$13.80B	+14.8%
Dec 2022	$12.02B	+6.5%
Sep 2022	$11.29B	+0.5%
Jun 2022	$11.24B	-2.9%
Mar 2022	$11.57B	-3.9%
Dec 2021	$12.04B	-1.1%
Sep 2021	$12.18B	+17.9%
Jun 2021	$10.33B	+0.0%
Mar 2021	$10.33B	-6.7%
Dec 2020	$11.07B	+1.5%
Sep 2020	$10.91B	-11.9%
Jun 2020	$12.37B	+7.3%
Mar 2020	$11.53B	+2.0%
Dec 2019	$11.31B	-1.8%
Sep 2019	$11.52B	+7.1%
Jun 2019	$10.76B	-6.9%
Mar 2019	$11.55B	-0.5%
Dec 2018	$11.61B	+5.7%
Sep 2018	$10.99B	+0.8%
Jun 2018	$10.90B	+4.4%
Mar 2018	$10.44B	+5.4%
Dec 2017	$9.90B	-5.8%
Sep 2017	$10.51B	+15.8%
Jun 2017	$9.08B	+3.7%
Mar 2017	$8.75B	+1.8%
Dec 2016	$8.60B	+10.4%
Sep 2016	$7.79B	-9.8%
Jun 2016	$8.63B	+3.8%
Mar 2016	$8.31B	-0.9%
Dec 2015	$8.39B	-13.7%
Sep 2015	$9.72B	-10.9%

Month	Value	Change
Jun 2015	$10.91B	-1.1%
Mar 2015	$11.03B	+5.1%
Dec 2014	$10.49B	+6.6%
Sep 2014	$9.85B	-2.3%
Jun 2014	$10.08B	+9.6%
Mar 2014	$9.19B	-6.5%
Dec 2013	$9.83B	-7.9%
Sep 2013	$10.67B	+5.7%
Jun 2013	$10.09B	-4.0%
Mar 2013	$10.51B	-6.1%
Dec 2012	$11.20B	-0.9%
Sep 2012	$11.30B	-1.4%
Jun 2012	$11.46B	-7.1%
Mar 2012	$12.34B	+4.6%
Dec 2011	$11.80B	+0.3%
Sep 2011	$11.76B	+6.3%
Jun 2011	$11.06B	+6.7%
Mar 2011	$10.37B	-11.7%
Dec 2010	$11.74B	+3.2%
Sep 2010	$11.37B	+2.2%
Jun 2010	$11.13B	+0.6%
Mar 2010	$11.06B	+13.0%
Dec 2009	$9.79B	+9.9%
Sep 2009	$8.91B	+0.8%
Jun 2009	$8.84B	+10.5%
Mar 2009	$8.00B	+4.4%
Dec 2008	$7.66B	+51.3%
Sep 2008	$5.06B	-58.1%
Jun 2008	$12.09B	+0.8%
Mar 2008	$11.99B	-3.5%
Sep 2007	$12.43B	+185.0%
Jun 2007	$4.36B	-2.1%
Mar 2007	$4.45B	-33.2%
Sep 2006	$6.67B	-9.5%
Jun 2006	$7.37B	-6.0%
Mar 2006	$7.84B	+13.9%
Dec 2005	$6.88B	+8.2%
Sep 2005	$6.36B	+7.5%
Jun 2005	$5.91B	+8.2%
Mar 2005	$5.46B	+2.7%
Dec 2004	$5.32B	+33.4%
Sep 2004	$3.99B	+77.8%
Jun 2004	$2.24B	+137.8%
Mar 2004	$943.12M	-60.1%
Dec 2002	$2.36B	-

FAQ

What is the current TTM free cash flow of NVS?: As of today, NVS TTM free cash flow is $13.99B
What is NVS TTM free cash flow most recent change?: NVS TTM free cash flow was down -6.67% on September 30, 2026
What is 1-year change in NVS TTM free cash flow?: NVS TTM free cash flow is down -18.41% year-over-year
How far is NVS TTM free cash flow from its all-time high?: NVS TTM free cash flow is currently -18.41% below its historical high of $17.15B set on September 29, 2025
How does NVS TTM free cash flow rank versus sector peers?: NVS TTM free cash flow is higher than 99.51% of companies in Healthcare sector
When is NVS next earnings release?: The next earnings release for NVS is on February 3, 2027

Free Cash Flow Formula

FCF = CFO − CAPEX

Data Sources & References

NVS Official Website www.novartis.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/1114448/000111444826000004/0001114448-26-000004-index.htm
NVS Profile on Yahoo Finance finance.yahoo.com/quote/NVS
NVS Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/nvs