Novartis Ag (NVS) Operating Margin (2009 - 2026)
Novartis Ag's Operating Margin came in at 32.97% for Q2 2026, down 1.64 percentage points from 34.61% a year earlier but up 0.67 percentage points from the prior quarter.
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Analysis
Novartis Ag (NVS) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Novartis Ag reported Operating Margin of 31.23%, down 0.10 percentage points year-over-year; for FY2025, it was 32.36%, up 3.27 percentage points from FY2024.
- Operating Margin has increased in each of the last three years, with a five-year change of +11.49 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 29.09% in FY2024 (+7.59 pp), 21.50% in FY2023 (+2.67 pp), 18.83% in FY2022 (-4.68 pp) and 23.51% in FY2021 (+2.64 pp).
- The five-year range for quarterly Operating Margin is 14.96% (Q3 2023) to 35.24% (Q1 2025).
- Year-over-year, Operating Margin increased in six of the last eight quarters, with an average year-over-year change of +3.32 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q3 2024 (a gain of 13.33 percentage points), and the weakest in Q2 2022 (a drop of 9.42 percentage points).
- Business Quant data shows NVS's Operating Margin at 32.30% (Q1 2026), 27.11% (Q4 2025) and 32.36% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,264.65 Bn | 1,238.27 Bn | 20.46 Bn | 52.42% |
| 2 | Johnson & Johnson | 677.74 Bn | 597.60 Bn | 17.30 Bn | 24.35% |
| 3 | AbbVie | 517.10 Bn | 485.11 Bn | 13.12 Bn | 36.01% |
| 4 | Merck | 362.23 Bn | 325.17 Bn | 13.19 Bn | 30.89% |
| 5 | Novartis Ag | 315.90 Bn | 276.16 Bn | 11.24 Bn | 32.97% |
| 6 | Astrazeneca | 289.40 Bn | 266.24 Bn | 12.86 Bn | 20.57% |
| 7 | Amgen | 249.90 Bn | 201.56 Bn | 7.58 Bn | 35.79% |
| 8 | Gilead Sciences | 209.15 Bn | 184.26 Bn | 6.73 Bn | 41.71% |
| 9 | Pfizer | 165.88 Bn | 113.23 Bn | 12.56 Bn | 32.98% |
| 10 | Vertex Pharmaceuticals | 138.78 Bn | 110.77 Bn | 2.91 Bn | 20.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.97% |
| Mar 31, 2026 | 32.30% |
| Dec 31, 2025 | 27.11% |
| Sep 30, 2025 | 32.36% |
| Jun 30, 2025 | 34.61% |
| Mar 31, 2025 | 35.24% |
| Dec 31, 2024 | 26.84% |
| Sep 30, 2024 | 28.29% |
| Jun 30, 2024 | 32.08% |
| Mar 31, 2024 | 28.51% |
| Dec 31, 2023 | 22.60% |
| Sep 30, 2023 | 14.96% |
| Jun 30, 2023 | 24.54% |
| Mar 31, 2023 | 24.25% |
| Dec 31, 2022 | 16.59% |
| Sep 30, 2022 | 17.40% |
| Jun 30, 2022 | 17.43% |
| Mar 31, 2022 | 22.76% |
| Dec 31, 2021 | 19.37% |
| Sep 30, 2021 | 24.81% |
API Access
Novartis Ag Operating Margin 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=operating-margin&ticker=NVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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=operating-margin&ticker=NVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();