Novartis AG vs Pfizer Inc., two Drug Manufacturers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Novartis earns 30% on equity, Pfizer 8.3%, and neither number needs a leverage footnote worth writing, which makes the gap the cleanest quality signal in big pharma: one estate is compounding, the other convalescing. The margins repeat it, 25.6% net against 11.8%. The multiples barely do, 21.5 times against 18.5, three turns between the sector's steadiest operator and its deepest trough. Pfizer pays holders to wait, a 7.1% dividend against nothing listed at Novartis, with free-cash yields of 6.8% and 5.8% nearly matched. The pair prices recovery optionality against demonstrated competence at almost the same fare; the dividend is the tiebreaker, and it points at the weaker franchise.
Comparison updated 2026-07-10.
| Metric | NVS | PFE |
|---|---|---|
| Price | $155.27 | $24.27 |
| Market cap | $301.1B | $139.1B |
| Sector | Drug Manufacturers | Drug Manufacturers |
| Stage | Mature | Mature |
| Implied growth (priced in) | +8.3% | -3.9% |
| P/E | 21.5 | 18.5 |
| P/B | 6.47 | 1.54 |
| P/S | 5.52 | 2.20 |
| EV/EBITDA | 16.4 | 30.6 |
| Revenue growth | +6.4% | +2.1% |
| Gross margin | 78.8% | — |
| Operating margin | 32.4% | — |
| Net margin | 25.6% | 11.8% |
| Return on equity | 30.0% | 8.3% |
| Return on assets | 12.6% | 3.6% |
| Return on invested capital | 32.4% | — |
| FCF yield | 5.8% | 6.8% |
| Dividend yield | — | 7.1% |
| Debt / equity | 0.00 | 0.71 |
| Current ratio | 1.12 | 1.25 |
| Altman Z (solvency) | 3.86 | 1.86 |
| Piotroski F (quality) | 8 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.