Filing Flows › Novartis AG (NVS) › Q3 2026 › vs Q2 2026
Novartis AG (NVS) Q3 2026 vs Q2 2026 (quarter over quarter)
Novartis AG's revenue rose $114M (+0.8%) from $14.4B in Q2 2026 to $14.5B in Q3 2026. Gross margin 78.6% against 78.0% (+0.6 pts).
Novartis AG, Q3 2026: revenue $14.5B (+4% year over year), operating margin 12.7%, net earnings $1.2B, operating cash flow $5.5B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 78.6% | 78.0% | +0.6 pts |
| Operating margin | 12.7% | 33.0% | -20.3 pts |
| Net margin | 8.2% | 22.6% | -14.4 pts |
| Free cash flow margin | 35.2% | 38.6% | -3.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $14.5B | $14.4B | $114M | +0.8% |
| Gross profit | $11.4B | $11.2B | $180M | +2% |
| Cost of revenue | $3.1B | $3.2B | −$66.0M | -2% |
| Operating profit | $1.8B | $4.8B | −$2.9B | -61% |
| Operating expenses | $9.6B | $6.5B | $3.1B | +48% |
| Pre-tax earnings | $1.3B | $4.3B | −$3.0B | -69% |
| Other expense, net | $526M | $481M | $45.0M | +9% |
| Research & development | $5.2B | $2.8B | $2.3B | +81% |
| SG&A | $3.1B | $3.2B | −$159M | -5% |
| Other operating costs | $1.3B | $403M | $943M | +234% |
| Net earnings | $1.2B | $3.3B | −$2.1B | -63% |
| Income tax | $121M | $1.0B | −$891M | -88% |
| Working capital & other | $4.3B | $2.6B | $1.7B | +64% |
| Operating cash flow | $5.5B | $5.9B | −$379M | -6% |
| Free cash flow (OCF − capex) | $5.1B | $5.6B | −$450M | -8% |
| Capital expenditures | $392M | $321M | $71.0M | +22% |
Questions
How much did Novartis AG's revenue grow quarter over quarter in Q3 2026?
Novartis AG's revenue rose $114M (+0.8%) from $14.4B in Q2 2026 to $14.5B in Q3 2026. Gross margin 78.6% against 78.0% (+0.6 pts).