ELAN vs. NVS: Elanco Animal Health vs. Novartis Stock Comparison

November 11, 2026

How do Elanco Animal Health (ELAN) and Novartis (NVS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Elanco Animal Health (ELAN) and Novartis (NVS) are both classified in the Pharmaceuticals sub-industry within the broader Pharmaceuticals industry, placing them in the closest GICS peer bucket.

Elanco Animal Health (ELAN) trades as ordinary local shares, while Novartis (NVS) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Elanco Animal Health (ELAN) and Novartis (NVS)
Profile Item	ELAN	NVS
Name	Elanco Animal Health Incorporated	Novartis AG Sponsored ADR
Country/Region	United States	Switzerland
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Pharmaceuticals	Pharmaceuticals
GICS Sub-Industry	Pharmaceuticals	Pharmaceuticals
Market Capitalization	12.86 billion USD	307.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 20, 2018	November 7, 1996
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

ELAN

NVS

GSPC

Elanco Animal Health (ELAN) vs. Novartis (NVS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Elanco Animal Health (ELAN) and Novartis (NVS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Elanco Animal Health (ELAN) and Novartis (NVS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Total Return (1Y)	24.03%	32.98%
Total Return (3Y, Annualized)	37.47%	24.72%
Total Return (5Y, Annualized)	-4.24%	18.80%

Risk Profile

Drawdown History

ELAN

NVS

GSPC

Elanco Animal Health (ELAN) vs. Novartis (NVS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Elanco Animal Health (ELAN) and Novartis (NVS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Elanco Animal Health (ELAN) has an aggressive beta of 1.65, indicating higher sensitivity to broad-market moves, while Novartis (NVS) is defensive at 0.41 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Volatility (1Y, Annualized)	43.57%	27.12%
Beta (5Y)	1.65	0.41
Max Drawdown (5Y)	-75.59%	-20.42%
Avg. Volume (3M)	5.65M	2.07M

Risk-Adjusted Performance

Risk-Return Positioning

ELAN and NVS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Sharpe Ratio (1Y)	0.45	1.06
Sortino Ratio (1Y)	0.66	1.46

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Novartis (NVS) earns 24.33% on shareholders’ equity, ranked against its industry; Elanco Animal Health (ELAN) has no ROE this period.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 109.18%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%
ELAN: --

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

24.33%

Max: 109.18%
NVS: 24.33%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Elanco Animal Health (ELAN) vs. Novartis (NVS): ELAN does not report ROE, so it has no value marker; NVS is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

Net Margin (TTM)

Elanco Animal Health (ELAN) reports a negative net margin of -2.86%, usually indicating a net loss over the period. Meanwhile Novartis (NVS) reports 17.49%, ranking against industry peers normally.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

-2.86%

Max: 18.05%
Q3: 4.78%
Median: 0.00%
ELAN: -2.86%
Q1: -4.14%
Min: -17.05%

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

17.49%

Max: 18.05%
NVS: 17.49%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Novartis (NVS) at 34.27% operates in the top operating margin quartile, ahead of Elanco Animal Health (ELAN) at 6.64%, which runs around its industry’s norm.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.64%

Max: 83.12%
Q3: 14.77%
ELAN: 6.64%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

34.27%

Max: 83.12%
NVS: 34.27%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
ROE (TTM)	--	24.33%
ROA (TTM)	--	10.86%
Net Margin (TTM)	-2.86%	17.49%
Operating Margin (TTM)	6.64%	34.27%
Gross Margin (TTM)	56.18%	75.21%

Growth

Revenue Growth

Both Elanco Animal Health (ELAN) at 6.22% and Novartis (NVS) at 9.57% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Novartis (NVS) at 21.81% is around its peer norm for EPS growth, while Elanco Animal Health (ELAN) at -169.12% drops into the bottom quartile, signaling weaker earnings momentum.

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Revenue Growth (YoY)	6.22%	9.57%
Revenue Growth (3Y CAGR)	2.25%	9.25%
EPS Growth (YoY)	-169.12%	21.81%
EPS Growth (3Y CAGR)	--	31.14%

Financial Strength

Current Ratio (MRQ)

Short-term liquidity can only be read on one side of this pairing: Novartis (NVS) shows current ratio of 0.88 against its industry benchmark, while Elanco Animal Health (ELAN) has no reading this period.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
Min: 0.10
ELAN: --

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.88

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
NVS: 0.88
Min: 0.10

Elanco Animal Health (ELAN) vs. Novartis (NVS): ELAN does not report current ratio, so it has no value marker; NVS is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

Debt / Equity (MRQ)

Elanco Animal Health (ELAN) at 0.64 carries an industry-typical debt-to-equity mix, while Novartis (NVS) at 1.29 uses more debt funding than most peers.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.64

Max: 1.42
Q3: 0.65
ELAN: 0.64
Median: 0.15
Q1: 0.02
Min: 0.00

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.29

Max: 1.42
NVS: 1.29
Q3: 0.65
Median: 0.15
Q1: 0.02
Min: 0.00

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Current Ratio (MRQ)	--	0.88
Debt / Equity (MRQ)	0.64	1.29
Net Debt / EBITDA	3.49	1.64

Dividends

Dividend Yield (TTM)

Elanco Animal Health (ELAN) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Novartis (NVS) reports a yield of 2.88%, ranking against industry peers normally.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

ELAN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.88%

NVS: 2.88%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Elanco Animal Health (ELAN) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Novartis (NVS) reports a payout of 90.46%, ranking against industry peers normally.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

ELAN: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

90.46%

NVS: 90.46%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
Dividend Yield (TTM)	0.00%	2.88%
Dividend Payout Ratio (TTM)	0.00%	90.46%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Novartis (NVS) trades at 31.02 times trailing earnings, ranked against its peers, while Elanco Animal Health (ELAN) has no P/E ratio this period.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07
ELAN: --

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

31.02

Max: 85.34
Q3: 43.46
NVS: 31.02
Median: 26.69
Q1: 13.30
Min: 0.07

Elanco Animal Health (ELAN) vs. Novartis (NVS): ELAN does not report P/E ratio, so it has no value marker; NVS is benchmarked against the Pharmaceuticals, Biotechnology & Life Sciences industry group.

P/S Ratio (TTM)

Elanco Animal Health (ELAN) at 2.50 sits in the cheaper P/S ratio quartile while Novartis (NVS) at 5.35 prices around its industry’s middle — ELAN costs less per dollar of sales, though read it alongside growth and margins.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.50

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
ELAN: 2.50
Min: 0.01

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.35

Max: 58.18
Q3: 25.77
Median: 7.30
NVS: 5.35
Q1: 3.01
Min: 0.01

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

Elanco Animal Health (ELAN) at 1.95 is valued about in line with its industry on P/B ratio, while Novartis (NVS) at 8.25 carries an above-peer premium to book — NVS is pricier on assets.

ELAN

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.95

Max: 13.53
Q3: 6.54
Median: 3.25
ELAN: 1.95
Q1: 1.69
Min: -5.59

NVS

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.25

Max: 13.53
NVS: 8.25
Q3: 6.54
Median: 3.25
Q1: 1.69
Min: -5.59

Elanco Animal Health (ELAN) vs. Novartis (NVS): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Elanco Animal Health (ELAN) and Novartis (NVS)
Metric	ELAN	NVS
P/E Ratio (TTM)	--	31.02
P/S Ratio (TTM)	2.50	5.35
P/B Ratio (MRQ)	1.95	8.25
Free Cash Flow Yield (TTM)	--	3.67%