• Novartis AG average price to free cash flow ratio for 2023 was 13.94, a 6.17% increase from 2022.
• Novartis AG average price to free cash flow ratio for 2022 was 13.13, a 2.16% increase from 2021.
• Novartis AG average price to free cash flow ratio for 2021 was 13.42, a 1.47% decline from 2020.

Price to free cash flow ratio can be defined as