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AstraZeneca vs Novartis AG: AZN and NVS compared
AstraZeneca is the larger company: $16.2B of revenue in its latest quarter (Q3 2026) against $14.5B for Novartis AG (Q3 2026). AstraZeneca is growing faster (+7% against +4% a year earlier). AstraZeneca is more profitable, with an operating margin of 27.1% against 12.7%.
Where the money goes: AZN and NVS
AstraZeneca (AZN) · Q3 2026
AstraZeneca, Q3 2026: revenue $16.2B (+7% year over year), operating margin 27.1%, net earnings $3.1B, operating cash flow $5.8B. The chart follows the revenue to costs, profit and cash.
Novartis AG (NVS) · Q3 2026
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 follows the revenue to costs, profit and cash.
| AstraZeneca (AZN) | Novartis AG (NVS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $16.2B | $14.5B |
| Revenue growth, Y/Y | +7% | +4% |
| Gross margin | 81.8% | 78.6% |
| Operating margin | 27.1% | 12.7% |
| Net earnings | $3.1B | $1.2B |
| Net margin | 19.2% | 8.2% |
| Operating cash flow | $5.8B | $5.5B |
| Free cash flow | $5.1B | $5.1B |
Where the revenue comes from
AstraZeneca
- Oncology: $7.1B (44%)
- CVRM: $2.6B (16%)
- Farxiga: $1.6B (10%)
- Ultomiris: $1.4B (9%)
Novartis AG
- Kisqali: $3.1B (22%)
- Cosentyx: $2.9B (20%)
- Kesimpta: $2.7B (18%)
- Jakavi: $1.7B (12%)
Questions
Which is bigger, AstraZeneca or Novartis AG?
AstraZeneca is the larger company: $16.2B of revenue in its latest quarter (Q3 2026) against $14.5B for Novartis AG (Q3 2026).
Is AstraZeneca or Novartis AG growing faster?
AstraZeneca is growing faster (+7% against +4% a year earlier).
Which is more profitable, AstraZeneca or Novartis AG?
AstraZeneca is more profitable, with an operating margin of 27.1% against 12.7%.
More: AstraZeneca earnings · how AstraZeneca makes money · Novartis AG earnings · how Novartis AG makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 30, 2026; 6-K filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.