Novartis: Value Price, Growth Pipeline

Novartis (NVS) offers a compelling value opportunity with EPS growth, margin expansion, and a robust pipeline at a discounted multiple. NVS is undergoing a slow re-rating, actively buying back shares, and expects seven key clinical readouts in the coming months. Q4 2025 showed strong core operating profit and margin, but revenue missed due to generic competition for Entresto and Promacta.

Seeking Alpha • Feb 5, 2026

Novartis expects low single-digit decline in 2026 operating profit

Swiss drugmaker Novartis forecast a decline in 2026 operating profit in the low single-digit percentage range on Wednesday, held back by competition from cheaper copies of established products such as heart drug Entresto.

Reuters • Feb 4, 2026

Novartis AG (NVS) Q4 2025 Earnings Call Transcript

Novartis AG (NVS) Q4 2025 Earnings Call Transcript

Seeking Alpha • Feb 4, 2026

Novartis delivered high single-digit sales growth, achieved 40% core margin and further advanced the pipeline in 2025

Ad hoc announcement pursuant to Art. 53 LR Full year Net sales grew +8% (cc 1 , +8% USD) with core operating income 1 up +14% (cc, +12% USD) Sales growth driven by continued strong performance from priority brands including Kisqali (+57% cc), Kesimpta (+36% cc), Pluvicto (+42% cc), Scemblix (+85% cc) and Cosentyx (+8% cc) Core operating income margin1 was 40.1%, +210 basis points (cc) Operating income grew +25% (cc, +21% USD); net income up +19% (cc, +17% USD) Core EPS 1 grew +17% (cc, +15% USD) to USD 8.98 Free cash flow 1 of USD 17.6 billion (+8% USD) driven by higher net cash flows from operating activities Fourth quarter Net sales -1% (cc, +1% USD), impacted by US generic erosion and revenue deduction adjustments; core operating income +1% (cc, +1% USD) Priority brands continued their strong momentum including Kisqali (+44% cc), Kesimpta (+27% cc), Pluvicto (+70% cc), Scemblix (+87% cc) and Cosentyx (+11% cc) Q4 selected innovation milestones: Remibrutinib FDA submission for the most common subtype of CINDU Pelabresib positive Phase III MANIFEST-2 96-week data; filing planned in EU, US Phase III planned Itvisma FDA approval as the only gene replacement therapy for a broad SMA population Scemblix EC approval for newly diagnosed patients with Ph+ CML in chronic phase Pluvicto FDA submission for PSMA+ metastatic hormone-sensitive prostate cancer Dividend , guidance Dividend of CHF 3.70 per share, an increase of 5.7%, proposed for 2025 2026 guidance 2 – Net sales expected to grow low single-digit and core operating income expected to decline low single-digit  Basel, February 4, 2026 – Commenting on Q4 2025 results, Vas Narasimhan, CEO of Novartis, said: “Novartis delivered strong performance in 2025, with high single-digit sales growth and core margin expansion despite significant US generic entries.

GlobeNewsWire • Feb 4, 2026

Novartis Faces Biggest Patent Expiry Ever but Sees Growth Ahead

Swiss pharmaceutical Novartis AG (NYSE: NVS) reported fourth-quarter 2025 results on Wednesday.

Benzinga • Feb 4, 2026

Novartis (NVS) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

The headline numbers for Novartis (NVS) give insight into how the company performed in the quarter ended December 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Zacks Investment Research • Feb 4, 2026

Novartis Beats on Q4 Earnings, Entresto Generics Pressure Sales

NVS tops Q4 EPS estimates as margins expand, but revenues miss the mark amid U.S. generics hitting Entresto and Promacta, reshaping its growth mix.

Zacks Investment Research • Feb 4, 2026

Novartis Sales Rise Despite Generic Drug Competition in U.S.

The pharma major said it had strong results in 2025, but guided toward a decline in core operating profit this year.

WSJ • Feb 4, 2026

Exploring Analyst Estimates for Novartis (NVS) Q4 Earnings, Beyond Revenue and EPS

Evaluate the expected performance of Novartis (NVS) for the quarter ended December 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Zacks Investment Research • Jan 30, 2026

Why Novartis (NVS) is a Top Value Stock for the Long-Term

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

Zacks Investment Research • Jan 30, 2026