Novartis AGNVS +0.19%80 EV-to-FCF is 21.15 as of Jun. 27, 2026, which is 17% above its 10-year median of 18.07. GuruFocus rates NVS with a GF Score™ of 80/100 and a GF Value™ of $126.78 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 562 Drug Manufacturers companies, Novartis AG ranks worse than 52.67% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Novartis AG's Enterprise Value is $337,617 Mil.
Novartis AG's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $15,962 Mil. Therefore, Novartis AG's EV-to-FCF for today is 21.15.
The historical rank and industry rank for Novartis AG's EV-to-FCF or its related term are showing as below:
NVS'
s EV-to-FCF Range Over the Past 10 Years
Min: 14.17 Med: 18.07 Max: 23.34
Current: 21.41
During the past 13 years, the highest EV-to-FCF of Novartis AG was 23.34. The lowest was 14.17. And the median was 18.07.
NVS's EV-to-FCF is ranked worse than 52.67% of 562
companies
in the Drug Manufacturers industry
Industry Median: 20.11
vs NVS: 21.41
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Novartis AG's PE Ratio (TTM) for today is calculated as:
Novartis AG's share price for today is $155.41.
Novartis AG's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.980.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Novartis AG EV-to-FCF Related Terms
Novartis AG EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Novartis AG's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Drug Manufacturers - General subindustry, Novartis AG's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Novartis AG EV-to-FCF vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novartis AG's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Novartis AG's EV-to-FCF falls into.
Novartis AG's current Enterprise Value is $337,617 Mil.
Novartis AG's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $15,962 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Novartis AG (NVS) has a EV-to-FCF of 21.15 as of Jun. 27, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Novartis AG and its competitors. This is 17% above median its historical median of 18.07. Over the past decade, Novartis AG's EV-to-FCF has ranged from 14.17 to 23.34. According to the industry distribution chart, Novartis AG ranks #296 out of 562 companies in the Drug Manufacturers industry, placing it in the top 52.7%.
Is Novartis AG's EV-to-FCF too high?
Novartis AG's current EV-to-FCF of 21.15 is 17% above median its 10-year median of 18.07. Over the past 10 years, this metric has ranged from a low of 14.17 to a high of 23.34. The Drug Manufacturers industry median EV-to-FCF is 20.11. Novartis AG's value of 21.15 is 5.2% above this industry median. Based on the distribution chart, Novartis AG ranks #296 out of 562 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Novartis AG has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Novartis AG's EV-to-FCF compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novartis AG ranks #296 out of 562 companies for EV-to-FCF. This places Novartis AG in the lower half of its industry. The industry median EV-to-FCF is 20.11. Novartis AG's value of 21.15 is 5.2% above this benchmark. Historically, Novartis AG's own EV-to-FCF has ranged from 14.17 to 23.34 over the past decade. While the company's 10-year median is 18.07 vs. the industry median of 20.11, Novartis AG has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Drug Manufacturers company?
The median EV-to-FCF among Drug Manufacturers companies is 20.11, based on 562 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novartis AG's current EV-to-FCF of 21.15 is 5.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Novartis AG and its competitors. For the Drug Manufacturers industry, the median EV-to-FCF is 20.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novartis AG's current EV-to-FCF is 21.15, which is 17% above median its own 10-year median of 18.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novartis AG stock overvalued right now?
Based on GuruFocus' analysis, Novartis AG (NVS) is currently considered Modestly Overvalued. The stock's GF Value™ is $126.78, compared to a current price of $155.41 — trading 22.6% above its estimated fair value. The current EV-to-FCF is 21.15, which is 17% above median its 10-year median of 18.07 and 5.2% above the Drug Manufacturers industry median of 20.11. Novartis AG's overall GF Score™ is 80/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Novartis AG (NVS), the current EV-to-FCF is 21.15 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Novartis AG (NVS) Overvalued in 2026?
Based on GuruFocus' analysis, Novartis AG stock appears to be overvalued.
The current stock price of $155.41 is trading 22.6% above its estimated GF Value™ of $126.78.
GuruFocus considers Novartis AG to be Modestly Overvalued.
Key valuation signals for NVS:
EV-to-FCF: 21.15 (17% above median its 10-year median of 18.07)
GF Value™: $126.78 vs. price of $155.41 (22.6% above fair value)
Industry Position: 5.2% above the Drug Manufacturers median (#296 of 562)
No single metric tells the full story. See the NVS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Novartis develops and manufactures innovative drugs. Key areas of drug development are oncology, immunology, neuroscience, respiratory, and cardiovascular, renal, and metabolic. It also has an established medicines business, which includes off-patent franchises. The company sells its products globally, with the United States constituting close to one-third of total revenue.
80GF Score
Get the complete analysis for NVS
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NVS has been successfully added to your 
