← NOVARTIS AG

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Net Income — — — — — — $7.0b $14.8b $11.9b $14.0b
Net Income From Continuing Operations — — — — — — $6.0b $8.6b $11.9b $14.0b
Net income from continuing operations $6.7b $7.7b $12.6b $7.1b $8.1b $24.0b $6.0b $8.6b $11.9b $14.0b
Other Adjustments To Reconcile Profit Loss — — ($2.0m) $1.0m ($1.0m) $0 — — — —
Amortization Cash Flow — — — — — — $5.1b $7.0b $4.9b $4.1b
Amortization Of Intangibles — — — — — — $5.1b $7.0b $4.9b $4.1b
Amortization Of Securities — — — — — — $260.0m $106.0m $45.0m ($50.0m)
Depreciation — — — — — — $1.6b $1.3b $1.2b $1.3b
Depreciation Amortization Depletion — — — — — — $6.7b $8.3b $6.1b $5.3b
Deferred Income Tax — — — — — — $1.1b $551.0m $1.7b $2.4b
Deferred Tax — — — — — — $1.1b $551.0m $1.7b $2.4b
Adjustments For Share-Based Payments $671.0m $683.0m $759.0m $758.0m $738.0m $736.0m $823.0m $865.0m $1.0b $1.1b
Earnings (Loss)es From Equity Investments — — — — — — $11.0m $13.0m $38.0m $12.0m
Proceeds From Sales Of Investments Other Than Investments Accounted For Using Equity Method — — — — — $442.0m $133.0m $348.0m $957.0m $209.0m
Additional Financial Items
Acquisitions of businesses — — — — — — — ($3.6b) ($4.0b) ($147.0m)
Adjustments For Decrease Increase In Trade Account Receivable ($229.0m) ($204.0m) ($569.0m) ($980.0m) $137.0m ($389.0m) ($589.0m) ($1.5b) ($931.0m) ($1.1b)
Adjustments For Increase Decrease In Trade Account Payable ($587.0m) $58.0m $309.0m $553.0m ($324.0m) ($21.0m) ($48.0m) $479.0m ($105.0m) ($273.0m)
Beginning Cash Position — — — — — — $12.4b $7.5b $13.4b $11.5b
Cash Flow From Continuing Financing Activities — — — — — — ($20.7b) ($17.6b) ($11.7b) ($14.9b)
Cash Flow From Continuing Investing Activities — — — — — — $1.9b $6.7b ($7.5b) ($4.9b)
Cash From Discontinued Financing Activities — — — — — $26.0m $119.0m $3.3b — —
Cash From Discontinued Investing Activities — — — — — ($689.0m) ($436.0m) ($1.1b) — —
Change In Account Payable — — — — — — ($181.0m) $479.0m ($105.0m) ($273.0m)
Change In Inventory — — — — — — ($560.0m) ($546.0m) ($225.0m) $34.0m
Change In Other Current Assets — — — — — — ($84.0m) ($125.0m) ($502.0m) ($461.0m)
Change In Other Current Liabilities — — — — — — $426.0m $1.3b $1.1b $247.0m
Change In Payable — — — — — — ($181.0m) $479.0m ($105.0m) ($273.0m)
Change In Payables And Accrued Expense — — — — — — ($181.0m) $479.0m ($105.0m) ($273.0m)
Change In Receivables — — — — — — ($397.0m) ($1.5b) ($931.0m) ($1.1b)
Change In Working Capital — — — — — — ($796.0m) ($369.0m) ($706.0m) ($1.6b)
Change in current financial debts $1.8b ($755.0m) $1.7b ($1.6b) $2.3b ($3.5b) $295.0m $546.0m $958.0m $5.0m
Changes In Account Receivables — — — — — — ($397.0m) ($1.5b) ($931.0m) ($1.1b)
Changes In Cash — — — — — — ($4.9b) $5.8b ($1.6b) ($600.0m)
End Cash Position — — — — — — $7.5b $13.4b $11.5b $11.4b
Financing Cash Flow — — — — — — ($20.6b) ($14.3b) ($11.7b) ($14.9b)
Free Cash Flow — — — — — — $12.0b $11.7b $13.8b $15.2b
Gain Loss On Sale Of PPE — — — — — — ($308.0m) ($180.0m) ($74.0m) $116.0m
Goodwill $31.0b $31.8b $35.3b $26.5b $30.0b $29.6b $29.3b $23.3b $24.8b $25.6b
Interest Received CFO — — — — — — $252.0m $645.0m $489.0m $310.0m
Interest Received Classified As Operating Activities $43.0m $97.0m $243.0m $214.0m $47.0m $13.0m $254.0m $645.0m $489.0m $310.0m
Interest received $43.0m $97.0m $243.0m $214.0m $47.0m $13.0m $254.0m $645.0m $489.0m $310.0m
Investing Cash Flow — — — — — — $1.5b $5.6b ($7.5b) ($4.9b)
Investments in time deposits and marketable securities — — — ($228.0m) ($1.9b) ($16.4b) ($34.7b) ($641.0m) ($3.5b) ($187.0m)
Net Business Purchase And Sale — — — — — — ($864.0m) ($3.6b) ($3.9b) ($3.0b)
Net Intangibles Purchase And Sale — — — — — — ($1.2b) $262.0m ($2.4b) ($2.2b)
Net PPE Purchase And Sale — — — — — — ($758.0m) ($823.0m) ($1.3b) ($1.5b)
Operating Gains Losses — — — — — — ($297.0m) ($167.0m) ($36.0m) $128.0m
Other Non Cash Items — — — — — — ($3.0m) ($785.0m) ($510.0m) $19.0m
Other financial payments ($155.0m) ($272.0m) ($32.0m) ($33.0m) ($39.0m) ($302.0m) ($32.0m) ($17.0m) ($116.0m) ($26.0m)
Other financial receipts — — $218.0m $28.0m $464.0m — $71.0m $90.0m — $266.0m
Payments Of Lease Liabilities Classified As Financing Activities — — — $273.0m $312.0m $316.0m $295.0m $258.0m $262.0m $281.0m
Payments To Acquire Or Redeem Entitys Shares $1.1b $5.5b $2.0b $5.5b $2.8b $3.1b $10.7b $8.7b $8.3b $9.2b
Payments from changes in ownership interests in consolidated subsidiaries ($6.0m) $0 ($19.0m) ($6.0m) ($2.0m) ($3.0m) — — ($293.0m) ($91.0m)
Payments of lease liabilities — — — ($273.0m) ($312.0m) ($316.0m) ($295.0m) ($258.0m) ($262.0m) ($281.0m)
Payments out of provisions and other net cash movements in non-current liabilities ($1.5b) ($877.0m) ($664.0m) ($924.0m) ($2.4b) ($1.1b) ($885.0m) ($1.5b) ($1.1b) ($1.5b)
Proceeds From Stock Option Exercised — — — — — $53.0m $100.0m $153.0m $30.0m —
Proceeds from exercised options and other treasury share transactions, net $214.0m $252.0m $700.0m $201.0m $748.0m $53.0m $100.0m $153.0m $30.0m $27.0m
Proceeds from sale of financial assets — — $165.0m $1.2b $723.0m $442.0m $133.0m $348.0m $957.0m $209.0m
Proceeds from sale of intangible assets $847.0m $640.0m $823.0m $973.0m $380.0m $748.0m $202.0m $2.0b $80.0m $164.0m
Proceeds from sale of other non-current assets — $1.0m $9.0m $3.0m $2.0m $4.0m — — $3.0m —
Proceeds from time deposits and from sale of marketable securities and commodities — — — $2.6b $492.0m $2.3b $39.4b $11.2b $2.7b $2.0b
Provisionand Write Offof Assets — — — — — — $1.3b $61.0m $696.0m $1.1b
Purchase Of Business — — — — — — — ($3.6b) ($4.0b) ($3.0b)
Purchase Of Intangible Assets Classified As Investing Activities $1.0b $1.1b $1.6b $878.0m $1.3b $1.6b $1.5b $1.7b $2.4b $2.4b
Purchase Of Intangibles — — — — — — ($1.3b) ($1.7b) ($2.4b) ($2.4b)
Purchase Of Interests In Associates $41.0m $46.0m — — — — — — — —
Purchase Of PPE — $1.7b $1.8b $1.4b $1.3b $1.4b ($916.0m) ($1.1b) ($1.4b) ($1.5b)
Purchases of financial assets — — ($205.0m) ($302.0m) ($230.0m) ($191.0m) ($121.0m) ($106.0m) ($193.0m) ($116.0m)
Purchases of intangible assets ($1.0b) ($1.1b) ($1.6b) ($878.0m) ($1.3b) ($1.6b) ($1.5b) ($1.7b) ($2.4b) ($2.4b)
Purchases of other non-current assets ($149.0m) ($42.0m) ($39.0m) ($60.0m) ($61.0m) ($61.0m) ($1.0m) — — —
Purchases of treasury shares ($1.1b) ($5.5b) ($2.0b) ($5.5b) ($2.8b) ($3.1b) ($10.7b) ($8.7b) ($8.3b) ($9.2b)
Repurchase Of Capital Stock — — — — — — ($10.7b) ($8.7b) ($8.3b) ($9.2b)
Reversal of non-cash items and other adjustments $8.4b $7.1b $3.2b $9.1b $9.9b ($5.3b) $11.5b $10.4b $10.2b $11.2b
Sale Of Business — — — — — — — $3.0m $107.0m —
Sale Of Intangibles — — — — — — $170.0m $2.0b $80.0m $164.0m
Sale Of PPE — — — — — $211.0m $158.0m — — —
Stock Based Compensation — — — — — — $791.0m $865.0m $1.0b $1.1b
Profit or Loss $6.7b $7.7b $12.6b $11.7b $8.1b $24.0b $7.0b $14.9b $11.9b $14.0b
Total net cash flows (used in)/from investing activities ($3.4b) ($3.1b) ($5.6b) ($2.2b) ($13.2b) $4.2b $1.5b $5.6b ($7.5b) ($4.9b)
Total net cash flows used in financing activities ($5.3b) ($7.7b) ($4.2b) ($13.6b) ($2.2b) ($16.3b) ($20.6b) ($14.3b) ($11.7b) ($14.9b)
Capital Expenditure — — — — — — ($2.2b) ($2.8b) ($3.8b) ($3.9b)
Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities $161.0m $92.0m $102.0m $857.0m $88.0m $240.0m $167.0m $237.0m $86.0m $13.0m
Purchases of property, plant and equipment ($1.9b) ($1.7b) ($1.8b) ($1.4b) ($1.3b) ($1.4b) ($1.2b) ($1.1b) ($1.4b) ($1.5b)
Net Investment Purchase And Sale — — — — — — $4.7b $10.8b $53.0m $1.9b
Purchase Of Investment — — — — — — ($34.8b) ($747.0m) ($3.6b) ($303.0m)
Sale Of Investment — — — — — — $39.5b $11.6b $3.7b $2.2b
Acquisitions and divestments of interests in associated companies, net — $29.0m $12.9b ($6.0m) ($7.0m) $20.7b ($24.0m) ($11.0m) ($10.0m) —
Divestments of businesses, net — — — — — — — $3.0m $107.0m ($88.0m)
Net Other Investing Changes — — — — — — ($1.0m) ($11.0m) ($7.0m) ($24.0m)
Other investing cash flows, net — — — — — — — ($11.0m) ($7.0m) ($24.0m)
Net cash flows (used in)/(from) investing activities from continuing operations ($2.7b) ($3.0b) ($5.6b) ($1.1b) ($13.1b) $4.2b $1.5b $6.7b ($7.5b) ($4.9b)
Net cash flows used in investing activities from discontinued operations ($748.0m) ($140.0m) ($1.0b) ($1.2b) ($127.0m) ($689.0m) ($436.0m) ($1.1b) — —
Cash flows from financing activities:
Issuance Of Debt — — — — — — $252.0m $546.0m $6.1b $6.1b
Long Term Debt Issuance — — — — — $16.0m $16.0m — $6.1b $6.1b
Net Issuance Payments Of Debt — — — — — — ($2.6b) ($1.9b) $4.4b $2.4b
Net Long Term Debt Issuance — — — — — — ($262.0m) ($258.0m) $5.9b $5.8b
Net Short Term Debt Issuance — — — — — — ($2.3b) ($1.7b) ($1.5b) ($3.4b)
Proceeds from non-current financial debts $1.9b $4.9b $2.9b $93.0m $7.1b $16.0m $16.0m — $6.1b $6.1b
Short Term Debt Issuance — — — — — — $252.0m $546.0m $958.0m —
Long Term Debt Payments — — — — — — ($262.0m) ($258.0m) ($262.0m) ($281.0m)
Repayment Of Debt — — — — — — ($2.8b) ($2.5b) ($2.7b) ($3.7b)
Repayments of the current portion of non-current financial debts ($1.7b) ($188.0m) ($366.0m) ($3.2b) ($2.0b) ($2.2b) ($2.6b) ($2.2b) ($2.2b) ($3.4b)
Short Term Debt Payments — — — — — — ($2.6b) ($2.2b) ($2.4b) ($3.4b)
Net Common Stock Issuance — — — — — — ($10.7b) ($8.7b) ($8.3b) ($9.2b)
Common Stock Payments — — — — — — ($10.7b) ($8.7b) ($8.3b) ($9.2b)
Cash Dividends Paid — — — — — — ($7.5b) ($7.3b) ($7.6b) ($7.8b)
Common Stock Dividend Paid — — — — — — ($7.5b) ($7.3b) ($7.6b) ($7.8b)
Dividend Received CFO — — — — — — $1.0m $2.0m $1.0m $1.0m
Dividends Proposed Or Declared Before Financial Statements Authorised For Issue But Not Recognised As Distribution To Owners $6.5b $6.7b $6.7b $7.0b $7.7b $7.6b $7.3b $8.0b $7.6b $8.9b
Dividends paid $6.5b $6.5b $7.0b $6.6b $7.0b $7.4b $7.5b $7.3b $7.6b $7.8b
Dividends paid to shareholders of Novartis AG ($6k) ($6k) ($7k) ($7k) ($7k) ($7k) ($8k) ($7k) ($8k) ($8k)
Dividends received from associated companies and others $899 $987 $719 $463 $490 $525 $1 $2 $1 $1
Net Other Financing Charges — — — — — — ($38.0m) $345.0m ($177.0m) ($267.0m)
Other financing cash flows, net $7.0m $10.0m ($37.0m) $56.0m ($147.0m) $97.0m $55.0m $192.0m $86.0m ($203.0m)
Net cash flows from financing activities from discontinued operations — ($415.0m) ($167.0m) $3.3b ($50.0m) $26.0m $119.0m $3.3b — —
Net cash flows used in financing activities from continuing operations — ($7.3b) ($4.1b) ($16.9b) ($2.2b) ($16.3b) ($20.6b) ($17.6b) ($11.7b) ($14.9b)
Effect Of Exchange Rate Changes — — — — — — ($32.0m) $100.0m ($298.0m) $576.0m
Effect of exchange rate changes on cash and cash equivalents ($387.0m) $84.0m ($26.0m) $69.0m $286.0m ($266.0m) ($32.0m) $100.0m ($298.0m) $576.0m
Net change in cash and cash equivalents before effect of exchange rate changes — $1.8b $4.4b ($2.2b) ($1.7b) $3.0b ($4.9b) $5.8b ($1.6b) ($600.0m)
Cash and cash equivalents at beginning of period $7.0b $8.9b $13.3b $11.1b $9.7b $12.4b $7.5b $13.4b $11.5b $11.4b
Net change in cash and cash equivalents $2.3b $1.9b $4.4b ($2.2b) ($1.5b) $2.7b ($4.9b) $5.9b ($1.9b) ($24.0m)
Change In Cash Supplemental As Reported — — — — — — ($4.9b) $5.9b ($1.9b) ($24.0m)
Interest Paid Classified As Operating Activities $723.0m $708.0m $826.0m $793.0m $703.0m $664.0m $696.0m $751.0m $855.0m $981.0m
Income Taxes Paid Refund Classified As Operating Activities $2.1b $1.6b $1.7b $1.9b $1.8b $2.3b $2.0b $2.8b $2.3b $2.6b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.