PM vs. NVS
PM (Philip Morris International Inc.) and NVS (Novartis AG) are both stocks. PM operates in Tobacco (Consumer Defensive), while NVS operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, PM returned 11.71%/yr vs 11.14%/yr for NVS. At a 0.35 correlation, their price movements are largely independent.
Performance
PM vs. NVS - Performance Comparison
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Returns By Period
In the year-to-date period, PM achieves a 15.93% return, which is significantly higher than NVS's 14.40% return. Both investments have delivered pretty close results over the past 10 years, with PM having a 11.71% annualized return and NVS not far behind at 11.14%.
PM
- 1D
- 1.95%
- 1M
- -1.92%
- YTD
- 15.93%
- 6M
- 22.12%
- 1Y
- 3.66%
- 3Y*
- 31.18%
- 5Y*
- 18.78%
- 10Y*
- 11.71%
NVS
- 1D
- -0.55%
- 1M
- 2.22%
- YTD
- 14.40%
- 6M
- 18.98%
- 1Y
- 30.60%
- 3Y*
- 19.57%
- 5Y*
- 14.77%
- 10Y*
- 11.14%
PM vs. NVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PM Philip Morris International Inc. | 15.93% | 37.99% | 34.34% | -1.85% | 12.31% | 20.78% | 3.69% | 35.02% | -33.30% | 19.85% |
NVS Novartis AG | 14.40% | 46.95% | 0.02% | 16.14% | 8.06% | -3.65% | 3.34% | 13.92% | 5.95% | 19.42% |
Correlation
The correlation between PM and NVS is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.35 |
The correlation between PM and NVS shifts across timeframes, from 0.23 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
Fundamentals
PM:
$288.03B
NVS:
$293.28B
PM:
$7.12
NVS:
$6.99
PM:
25.90
NVS:
21.90
PM:
2.81
NVS:
1.48
PM:
6.93
NVS:
5.29
PM:
$41.49B
NVS:
$56.05B
PM:
$27.93B
NVS:
$42.19B
PM:
$17.74B
NVS:
$22.40B
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Return for Risk
PM vs. NVS — Risk / Return Rank
PM
NVS
PM vs. NVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Philip Morris International Inc. (PM) and Novartis AG (NVS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PM | NVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.26 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 2.43 | -2.25 |
| Martin ratioReturn relative to average drawdown | 0.34 | 5.88 | -5.54 |
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Drawdowns
PM vs. NVS - Drawdown Comparison
The maximum PM drawdown since its inception was -42.87%, roughly equal to the maximum NVS drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for PM and NVS.
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Drawdown Indicators
| PM | NVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.87% | -42.10% | -0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -20.64% | -12.65% | -7.99% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -19.95% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | -20.42% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -42.87% | -26.03% | -16.84% |
Current DrawdownCurrent decline from peak | -3.94% | -6.46% | +2.52% |
Average DrawdownAverage peak-to-trough decline | -10.02% | -10.92% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.81% | 5.23% | +5.58% |
Volatility
PM vs. NVS - Volatility Comparison
Philip Morris International Inc. (PM) has a higher volatility of 7.76% compared to Novartis AG (NVS) at 7.18%. This indicates that PM's price experiences larger fluctuations and is considered to be riskier than NVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PM | NVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.76% | 7.18% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 14.96% | +6.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 21.02% | +6.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.73% | 18.89% | +3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.46% | 19.64% | +4.82% |
Dividends
PM vs. NVS - Dividend Comparison
PM's dividend yield for the trailing twelve months is around 3.13%, which matches NVS's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVS Novartis AG | 3.12% | 2.90% | 3.84% | 3.44% | 3.70% | 3.86% | 3.22% | 3.03% | 3.47% | 3.24% | 3.73% | 3.10% |
PM Philip Morris International Inc. | 3.13% | 3.52% | 4.40% | 5.46% | 4.98% | 5.16% | 5.73% | 5.43% | 6.73% | 3.99% | 4.50% | 4.60% |
Financials
PM vs. NVS - Financials Comparison
This section allows you to compare key financial metrics between Philip Morris International Inc. and Novartis AG. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PM vs. NVS - Profitability Comparison
PM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a gross profit of 6.91B and revenue of 10.15B. Therefore, the gross margin over that period was 68.1%.
NVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a gross profit of 10.07B and revenue of 13.52B. Therefore, the gross margin over that period was 74.4%.
PM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported an operating income of 3.89B and revenue of 10.15B, resulting in an operating margin of 38.4%.
NVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported an operating income of 4.24B and revenue of 13.52B, resulting in an operating margin of 31.3%.
PM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a net income of 2.44B and revenue of 10.15B, resulting in a net margin of 24.0%.
NVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Novartis AG reported a net income of 3.16B and revenue of 13.52B, resulting in a net margin of 23.3%.
Frequently Asked Questions
PM and NVS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PM has higher volatility (7.76%) compared to NVS (7.18%). In terms of maximum drawdown, PM dropped -42.87% vs NVS's -42.10%.
NVS currently has the higher Sharpe Ratio (1.47 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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