Novartis Ag (NVS) Cost of Revenue (2009 - 2026)
Novartis Ag's Cost of Revenue came in at $3.71 billion for Q2 2026, up 11.7% from $3.32 billion a year earlier and up 7.3% from the prior quarter.
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Analysis
Novartis Ag (NVS) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Novartis Ag reported Cost of Revenue of $14.32 billion, up 9.2% year-over-year; for FY2025, it was $13.7 billion, up 6.8% from FY2024.
- Cost of Revenue has increased in each of the last three years, though with a five-year compound annual growth rate of -2.0% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $12.83 billion in FY2024 (+2.8%), $12.47 billion in FY2023 (+7.7%), $11.58 billion in FY2022 (-1.3%) and $11.74 billion in FY2021 (-22.4%).
- The Q2 2026 figure represents the highest quarterly Cost of Revenue since Q2 2022.
- Year-over-year, Cost of Revenue has increased for eight consecutive quarters, with growth averaging 7.5% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q2 2026 (growth of 11.7%), and the weakest in Q3 2022 (a decline of 27.0%).
- Business Quant data shows NVS's Cost of Revenue at $3.46 billion (Q1 2026), $3.61 billion (Q4 2025) and $3.54 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,224.11 Bn | 1,197.72 Bn | 20.46 Bn | 3.93 Bn |
| 2 | Johnson & Johnson | 665.34 Bn | 585.20 Bn | 17.30 Bn | 8.10 Bn |
| 3 | AbbVie | 515.72 Bn | 483.73 Bn | 13.12 Bn | 4.29 Bn |
| 4 | Merck | 362.64 Bn | 325.58 Bn | 13.19 Bn | 4.89 Bn |
| 5 | Novartis Ag | 315.51 Bn | 288.75 Bn | - | - |
| 6 | Astrazeneca | 289.26 Bn | 263.15 Bn | 13.26 Bn | 2.95 Bn |
| 7 | Amgen | 249.20 Bn | 200.85 Bn | 7.58 Bn | 2.79 Bn |
| 8 | Gilead Sciences | 207.48 Bn | 182.59 Bn | 6.73 Bn | 1.57 Bn |
| 9 | Pfizer | 167.49 Bn | 114.85 Bn | 12.56 Bn | 4.03 Bn |
| 10 | Vertex Pharmaceuticals | 138.73 Bn | 110.72 Bn | 2.91 Bn | 526.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.71 Bn |
| Mar 31, 2026 | 3.46 Bn |
| Dec 31, 2025 | 3.61 Bn |
| Sep 30, 2025 | 3.54 Bn |
| Jun 30, 2025 | 3.32 Bn |
| Mar 31, 2025 | 3.23 Bn |
| Dec 31, 2024 | 3.32 Bn |
| Sep 30, 2024 | 3.23 Bn |
| Jun 30, 2024 | 3.17 Bn |
| Mar 31, 2024 | 3.10 Bn |
| Dec 31, 2023 | 3.02 Bn |
| Sep 30, 2023 | 3.12 Bn |
| Jun 30, 2023 | 3.34 Bn |
| Mar 31, 2023 | 2.99 Bn |
| Dec 31, 2022 | 3.04 Bn |
| Sep 30, 2022 | 2.87 Bn |
| Jun 30, 2022 | 3.75 Bn |
| Mar 31, 2022 | 3.86 Bn |
| Dec 31, 2021 | 3.98 Bn |
| Sep 30, 2021 | 3.94 Bn |
API Access
Novartis Ag Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NVS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();