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Novartis AG vs Bristol Myers Squibb: NVS and BMY compared
Novartis AG is the larger company: $14.5B of revenue in its latest quarter (Q3 2026) against $13.1B for Bristol Myers Squibb (Q3 2026). Bristol Myers Squibb is growing faster (+7% against +4% a year earlier). Bristol Myers Squibb is more profitable, with an operating margin of 19.4% against 12.7%.
Where the money goes: NVS and BMY
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.
Bristol Myers Squibb (BMY) · Q3 2026
Bristol Myers Squibb, Q3 2026: revenue $13.1B (+7% year over year), operating margin 19.4%, net earnings $2.2B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
| Novartis AG (NVS) | Bristol Myers Squibb (BMY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $14.5B | $13.1B |
| Revenue growth, Y/Y | +4% | +7% |
| Operating margin | 12.7% | 19.4% |
| Net earnings | $1.2B | $2.2B |
| Net margin | 8.2% | 16.5% |
| Operating cash flow | $5.5B | $4.2B |
| Free cash flow | — | $3.8B |
| Market value | — | $127.6B |
| P/E | — | 13.7× |
| Analysts’ mean target | — | $65.25 |
Where the revenue comes from
Bristol Myers Squibb
- Net product sales: $12.6B (97%)
- Camzyos: $420M (3%)
Questions
Which is bigger, Novartis AG or Bristol Myers Squibb?
Novartis AG is the larger company: $14.5B of revenue in its latest quarter (Q3 2026) against $13.1B for Bristol Myers Squibb (Q3 2026).
Is Novartis AG or Bristol Myers Squibb growing faster?
Bristol Myers Squibb is growing faster (+7% against +4% a year earlier).
Which is more profitable, Novartis AG or Bristol Myers Squibb?
Bristol Myers Squibb is more profitable, with an operating margin of 19.4% against 12.7%.
More: Novartis AG earnings · how Novartis AG makes money · Bristol Myers Squibb earnings · how Bristol Myers Squibb makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 27, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.