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Pfizer vs Novartis AG: PFE and NVS compared
Pfizer is the larger company: $16.6B of revenue in its latest quarter (Q3 2026) against $14.5B for Novartis AG (Q3 2026). Novartis AG is growing faster (+4% against -0.4% a year earlier). Pfizer is more profitable, with an operating margin of 20.4% against 12.7%.
Where the money goes: PFE and NVS
Pfizer (PFE) · Q3 2026
Pfizer, Q3 2026: revenue $16.6B (-0.4% year over year), operating margin 20.4%, net earnings $3.3B, operating cash flow $5.4B. 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.
| Pfizer (PFE) | Novartis AG (NVS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $16.6B | $14.5B |
| Revenue growth, Y/Y | -0.4% | +4% |
| Operating margin | 20.4% | 12.7% |
| Net earnings | $3.3B | $1.2B |
| Net margin | 19.6% | 8.2% |
| Operating cash flow | $5.4B | $5.5B |
| Free cash flow | $4.8B | — |
| Market value | $169.0B | — |
| P/E | 42.0× | — |
| Analysts’ mean target | $30.11 | — |
Questions
Which is bigger, Pfizer or Novartis AG?
Pfizer is the larger company: $16.6B of revenue in its latest quarter (Q3 2026) against $14.5B for Novartis AG (Q3 2026).
Is Pfizer or Novartis AG growing faster?
Novartis AG is growing faster (+4% against -0.4% a year earlier).
Which is more profitable, Pfizer or Novartis AG?
Pfizer is more profitable, with an operating margin of 20.4% against 12.7%.
More: Pfizer earnings · how Pfizer makes money · Novartis AG earnings · how Novartis AG makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 6-K filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.