Novartis Reports Q4 2025 Results with Mixed Performance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 04 2026
0mins
Should l Buy NVS?
Source: Benzinga
- Sales Growth Challenges: Novartis reported a 1% year-over-year increase in net sales to $13.34 billion for Q4 2025, falling short of Wall Street's $13.78 billion estimate, indicating challenges in achieving sales growth amid fierce competition.
- Core Operating Income Slightly Up: Core operating income rose 1% to $4.93 billion, benefiting from increased government grant income and reduced SG&A expenses, although higher R&D costs partially offset these gains, resulting in a core operating income margin of 37.0%.
- Strong Performance from Blockbusters: Demand for blockbuster therapies like Kisqali and Kesimpta surged by 44% and 27% respectively, driving overall performance and demonstrating Novartis's competitive strength in oncology and multiple sclerosis markets.
- Cautiously Optimistic Outlook: Novartis expects low single-digit growth in net sales for 2026, while core operating income may decline slightly; however, the incoming CFO indicated that operating income is set to grow significantly in the second half of the year, suggesting strong potential for future growth.
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Analyst Views on NVS
Wall Street analysts forecast NVS stock price to fall
6 Analyst Rating
1 Buy
4 Hold
1 Sell
Hold
Current: 161.180
Low
112.00
Averages
127.75
High
143.00
Current: 161.180
Low
112.00
Averages
127.75
High
143.00
About NVS
Novartis AG is a Switzerland-based pharmaceutical company. The Company develops, manufactures, and markets branded and generic prescription drugs, active pharmaceutical ingredients (APIs), biosimilars and ophthalmic products. The Company uses science and digital technologies for treatments in the disease areas of immunology, dermatology, cancer, ophthalmology, neuroscience, respiratory, cardiovascular, renal and metabolism. The business activities of the Company are divided into two segments: Innovative Medicines, which includes innovative patent-protected prescription medicines for blood pressure, cancer and other ailments, and Sandoz, which includes generic pharmaceuticals and biosimilars.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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