Roche Posts 7% Revenue Growth, 13% Profit Rise; Plans CHF 9.80 Dividend
Roche delivered full-year 2025 group sales of CHF 61.5 billion, up 7% at constant exchange rates, with core operating profit rising 13% driven by diagnostic and pharmaceutical demand. Key drugs Phesgo, Xolair, Ocrevus, Hemlibra and Vabysmo generated CHF 21.4 billion in sales, and management projects mid-single digit group sales growth, high-single digit core EPS increases and a CHF 9.80 dividend for 2026.
1. Strong Full-Year 2025 Results
Roche Holding AG reported core earnings per share of CHF 19.46 for full-year 2025, representing an 11% increase at constant exchange rates compared with the prior period. Group sales reached CHF 61.5 billion, up 7% at CER, driven by both pharmaceutical and diagnostics businesses. Fourth-quarter sales grew 8%, underscoring the company’s continued momentum through year end.
2. Pharmaceutical Division and Key Products
The Pharmaceuticals Division delivered CHF 47.7 billion in sales, a 9% rise at CER, led by key products such as Phesgo, Xolair and Ocrevus. Roche’s top five drugs—including Hemlibra and Vabysmo—generated combined sales of CHF 21.4 billion, each achieving double-digit growth. The company’s obesity and cardiovascular pipeline programs position Roche to compete in the expanding GLP-1 market.
3. Outlook, Dividend and Balance Sheet Strength
For 2026, Roche forecasts mid-single-digit sales growth and high-single-digit core EPS expansion at constant currency. Management proposes increasing the dividend to CHF 9.80 per share. The company’s financial health is bolstered by a debt-to-equity ratio of 1.21 and a current ratio of 1.29, while valuation metrics include a P/E of 46.89 and a P/S of 5.72.