Novo Nordisk A/S(NVO)Earnings, Financials & Key Ratios
NVO•NYSE
12.2× P/E·Price updated Jun 19, 2026
AboutNovo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease. The Diabetes and Obesity care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas. The Rare Disease segment offers products in the areas of rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company also provides insulin pens, growth hormone pens, and injection needles. In addition, it offers smart solutions for diabetes treatment, such as smart insulin pens and Dose Check, an insulin dose guidance application. The company has a collaboration agreement with UNICEF to tackle childhood obesity; and with Valo Health, Inc. to discover and develop novel drug programmes for cardiometabolic space. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.Show more
- Revenue$309.06B+6.4%
- EBITDA$149.64B+1.5%
- Net Income$102.43B+1.4%
- EPS (Diluted)23.03+1.8%
- Gross Margin80.98%-4.4%
- EBITDA Margin48.42%-4.6%
- Operating Margin41.3%-6.5%
- Net Margin33.14%-4.7%
- ROE60.7%-24.9%
NVO Key Insights
Novo Nordisk A/S (NVO) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 76.5%
- ✓Strong 5Y profit CAGR of 19.4%
- ✓Strong 5Y sales CAGR of 19.5%
- ✓Healthy dividend yield of 4.1%
- ✓Healthy 5Y average net margin of 33.8%
✗Weaknesses
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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NVO Price & Volume
Novo Nordisk A/S (NVO) stock price & volume — 10-year historical chart
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NVO Growth Metrics
Novo Nordisk A/S (NVO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years11.09%
5 Years19.48%
3 Years20.43%
TTM8.13%
Profit CAGR
10 Years11.38%
5 Years19.44%
3 Years22.65%
TTM16.58%
EPS CAGR
10 Years13.04%
5 Years20.65%
3 Years23.52%
TTM16.79%
Return on Capital
10 Years128.26%
5 Years73.17%
3 Years62.34%
Last Year44.36%
NVO Recent Earnings
Novo Nordisk A/S (NVO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$1.04+19.5%
$0.87
Rev
$11.0B+1.5%
$10.9B
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$1.00+11.1%
$0.90
Rev
$12.5B+3.1%
$12.1B
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$1.00+11.1%
$0.90
Rev
$12.5B+3.1%
$12.1B
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$1.02+32.5%
$0.77
Rev
$11.8B-4.8%
$12.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $1.04vs $0.87+19.5% | $11.0Bvs $10.9B+1.5% |
| Q1 2026 | Feb 4, 2026 | $1.00vs $0.90+11.1% | $12.5Bvs $12.1B+3.1% |
| Q1 2026 | Feb 3, 2026 | $1.00vs $0.90+11.1% | $12.5Bvs $12.1B+3.1% |
| Q4 2025 | Nov 5, 2025 | $1.02vs $0.77+32.5% | $11.8Bvs $12.4B-4.8% |
Based on last 12 quarters of dataView full earnings history →
NVO Peer Comparison
Novo Nordisk A/S (NVO) competitors in Specialty and biologics-focused pharma — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LLY | 1.04T | 1098.13 | 47.85 | 44.7% | 34.98% | 101.17% | 1.60 | |
 SNY | 102.35B | 42.38 | 18.14 | 5.49% | 16.72% | 10.78% | 0.30 | |
 AZN | 271.19B | 174.93 | 26.75 | 8.63% | 17.19% | 22.24% | 0.61 | |
 NVS | 280.64B | 147.08 | 20.46 | 5.97% | 24.14% | 31.42% | 0.80 | |
 ROG | 2.9B | 162.68 | -48.42 | -2.33% | -6.87% | -4.66% | 0.03 | |
 MRK | 281.25B | 113.87 | 15.64 | 1.18% | 28.12% | 36.14% | 0.96 | |
 PFE | 143.46B | 25.22 | 18.54 | -1.65% | 11.83% | 8.34% | 0.78 | |
 BMY | 110.25B | 54.00 | 15.65 | -0.22% | 15.01% | 38.96% | 2.55 |
Compare NVO vs Peers
Novo Nordisk A/S (NVO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NVO Income Statement
Novo Nordisk A/S (NVO) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 111.7B | 111.83B | 122.02B | 126.95B | 140.8B | 176.95B | 232.26B | 290.4B | 309.06B | 327.8B |
Revenue Growth % | -0.08% | 0.12% | 9.11% | 4.04% | 10.91% | 25.68% | 31.25% | 25.03% | 6.43% | 8.13% |
Cost of Goods Sold | 17.63B | 17.62B | 20.09B | 20.93B | 23.66B | 28.45B | 35.77B | 44.52B | 58.79B | 59.5B |
COGS % of Revenue | 15.79% | 15.75% | 16.46% | 16.49% | 16.8% | 16.08% | 15.4% | 15.33% | 19.02% | - |
Gross Profit | 94.06B▲ 0% | 94.21B▲ 0.2% | 101.93B▲ 8.2% | 106.01B▲ 4.0% | 117.14B▲ 10.5% | 148.51B▲ 26.8% | 196.5B▲ 32.3% | 245.88B▲ 25.1% | 250.28B▲ 1.8% | 268.3B▲ 0% |
Gross Margin % | 84.21% | 84.25% | 83.54% | 83.51% | 83.2% | 83.92% | 84.6% | 84.67% | 80.98% | 81.85% |
Gross Profit Growth % | -0.56% | 0.16% | 8.19% | 4% | 10.5% | 26.77% | 32.32% | 25.13% | 1.79% | - |
Operating Expenses | 45.1B | 46.97B | 49.45B | 51.89B | 58.5B | 73.7B | 93.92B | 117.54B | 122.62B | 119.82B |
OpEx % of Revenue | 40.37% | 42% | 40.53% | 40.87% | 41.55% | 41.65% | 40.44% | 40.48% | 39.67% | - |
Selling, General & Admin | 32.12B | 33.31B | 35.83B | 36.89B | 41.06B | 50.68B | 61.6B | 67.38B | 70.28B | 67.38B |
SG&A % of Revenue | 28.76% | 29.79% | 29.36% | 29.06% | 29.16% | 28.64% | 26.52% | 23.2% | 22.74% | - |
Research & Development | 14.01B | 14.8B | 14.22B | 15.46B | 17.77B | 24.05B | 32.44B | 48.06B | 52.04B | 52.02B |
R&D % of Revenue | 12.55% | 13.24% | 11.65% | 12.18% | 12.62% | 13.59% | 13.97% | 16.55% | 16.84% | - |
Other Operating Expenses | -1.04B | -1.15B | -600M | -460M | -332M | -1.03B | -119M | 2.1B | 300M | 4M |
Operating Income | 48.97B▲ 0% | 47.25B▼ 3.5% | 52.48B▲ 11.1% | 54.13B▲ 3.1% | 58.64B▲ 8.3% | 74.81B▲ 27.6% | 102.57B▲ 37.1% | 128.34B▲ 25.1% | 127.66B▼ 0.5% | 148.49B▲ 0% |
Operating Margin % | 43.84% | 42.25% | 43.01% | 42.64% | 41.65% | 42.28% | 44.16% | 44.19% | 41.3% | 45.3% |
Operating Income Growth % | 1.1% | -3.51% | 11.08% | 3.13% | 8.35% | 27.56% | 37.11% | 25.12% | -0.53% | - |
EBITDA | 52.15B | 51.17B | 58.14B | 59.88B | 64.67B | 82.17B | 111.99B | 147.45B | 149.64B | 170.17B |
EBITDA Margin % | 46.69% | 45.76% | 47.65% | 47.17% | 45.93% | 46.44% | 48.22% | 50.77% | 48.42% | 51.91% |
EBITDA Growth % | 1.01% | -1.87% | 13.62% | 2.98% | 8% | 27.06% | 36.29% | 31.66% | 1.49% | 9.57% |
D&A (Non-Cash Add-back) | 3.18B | 3.92B | 5.66B | 5.75B | 6.03B | 7.36B | 9.41B | 19.11B | 21.98B | 21.69B |
EBIT | 48.77B | 47.7B | 48.77B | 53.52B | 59.37B | 69.44B | 105.22B | 128.83B | 134.75B | 159.85B |
Net Interest Income | -89M | -106M | -436M | -203M | -58M | -139M | 527M | 198M | -2.94B | 7.19B |
Interest Income | 69M | 51M | 65M | 337M | 231M | 239M | 1.07B | 1.84B | 1.27B | 15.65B |
Interest Expense | 90M | 85M | 220M | 390M | 289M | 378M | 542M | 1.64B | 4.21B | 8.46B |
Other Income/Expense | -287M | 367M | -3.93B | -996M | 436M | -5.75B | 2.1B | -1.15B | 2.88B | 7.19B |
Pretax Income | 48.68B▲ 0% | 47.62B▼ 2.2% | 48.55B▲ 2.0% | 53.13B▲ 9.4% | 59.08B▲ 11.2% | 69.06B▲ 16.9% | 104.67B▲ 51.6% | 127.19B▲ 21.5% | 130.54B▲ 2.6% | 155.68B▲ 0% |
Pretax Margin % | 43.58% | 42.58% | 39.79% | 41.85% | 41.96% | 39.03% | 45.07% | 43.8% | 42.24% | 47.49% |
Income Tax | 10.55B | 8.99B | 9.6B | 10.99B | 11.32B | 13.54B | 20.99B | 26.2B | 28.11B | 33.72B |
Effective Tax Rate % | 21.67% | 18.87% | 19.78% | 20.69% | 19.17% | 19.6% | 20.05% | 20.6% | 21.53% | 21.66% |
Net Income | 38.13B▲ 0% | 38.63B▲ 1.3% | 38.95B▲ 0.8% | 42.14B▲ 8.2% | 47.76B▲ 13.3% | 55.52B▲ 16.3% | 83.68B▲ 50.7% | 100.99B▲ 20.7% | 102.43B▲ 1.4% | 121.96B▲ 0% |
Net Margin % | 34.14% | 34.54% | 31.92% | 33.19% | 33.92% | 31.38% | 36.03% | 34.78% | 33.14% | 37.2% |
Net Income Growth % | 0.54% | 1.31% | 0.84% | 8.18% | 13.33% | 16.27% | 50.71% | 20.68% | 1.43% | 16.58% |
Net Income (Continuing) | 38.13B | 38.63B | 38.95B | 42.14B | 47.76B | 55.52B | 83.68B | 100.99B | 102.43B | 121.96B |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | 7.70▲ 0% | 7.97▲ 3.5% | 8.19▲ 2.8% | 9.01▲ 10.0% | 10.37▲ 15.1% | 12.22▲ 17.8% | 18.62▲ 52.4% | 22.63▲ 21.5% | 23.03▲ 1.8% | 27.41▲ 0% |
EPS Growth % | 2.94% | 3.51% | 2.76% | 10.01% | 15.09% | 17.84% | 52.37% | 21.54% | 1.77% | 16.79% |
EPS (Basic) | 7.71 | 7.98 | 8.21 | 9.03 | 10.40 | 12.26 | 18.67 | 22.67 | 23.06 | - |
Diluted Shares Outstanding | 4.96B | 4.85B | 4.76B | 4.68B | 4.61B | 4.54B | 4.49B | 4.46B | 4.45B | 4.45B |
Basic Shares Outstanding | 4.96B | 4.84B | 4.75B | 4.67B | 4.59B | 4.53B | 4.48B | 4.45B | 4.45B | 4.44B |
Dividend Payout Ratio | 49.42% | 49.31% | 49.83% | 47.75% | 45.06% | 45.57% | 37.96% | 43.71% | 50.53% | - |
NVO Balance Sheet
Novo Nordisk A/S (NVO) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 60.08B | 59.07B | 9.38B | 10.82B | 85.59B | 108.19B | 139.65B | 160.9B | 172.45B | 177.32B |
Cash & Short-Term Investments | 18.85B | 15.64B | 2.32B | 2.1B | 17.48B | 23.57B | 30.23B | 26.31B | 26.96B | 21.63B |
Cash Only | 18.85B | 15.64B | 2.32B | 2.1B | 10.72B | 12.65B | 14.39B | 15.65B | 26.46B | 21.13B |
Short-Term Investments | 0 | 0 | 0 | 0 | 6.76B | 10.92B | 15.84B | 10.65B | 498M | 499M |
Accounts Receivable | 23.55B | 26.89B | 3.86B | 4.61B | 46.8B | 57.51B | 75.26B | 87.41B | 75.7B | 100.27B |
Days Sales Outstanding | 76.96 | 87.76 | 11.56 | 13.24 | 121.32 | 118.61 | 118.27 | 109.87 | 89.4 | 98.59 |
Inventory | 15.37B | 16.34B | 2.65B | 3.05B | 19.62B | 24.39B | 31.81B | 40.85B | 49.62B | 51.35B |
Days Inventory Outstanding | 318.24 | 338.46 | 48.15 | 53.13 | 302.72 | 312.91 | 324.65 | 334.89 | 308.1 | 297.74 |
Other Current Assets | 5.69B | 4.31B | 544.09M | 1.07B | 1.69B | 9.67B | 2.34B | 6.33B | 20.17B | 4.07B |
Total Non-Current Assets | 42.27B | 51.7B | 9.49B | 13B | 108.91B | 133.06B | 174.84B | 304.9B | 370.45B | 381.9B |
Property, Plant & Equipment | 35.25B | 41.89B | 7.59B | 8.26B | 55.36B | 66.67B | 90.96B | 162.49B | 208.38B | 219.97B |
Fixed Asset Turnover | 3.17x | 2.67x | 16.07x | 15.36x | 2.54x | 2.65x | 2.55x | 1.79x | 1.48x | 1.63x |
Goodwill | 0 | 0 | 0 | 0 | 4.35B | 5.09B | 4.46B | 20.06B | 19.84B | 19.88B |
Intangible Assets | 3.33B | 5.14B | 876.52M | 3.4B | 38.83B | 46.32B | 55.94B | 91.03B | 110.21B | 110.03B |
Long-Term Investments | 1.76B | 1.77B | 271.59M | 270.9M | 1.44B | 1.34B | 1.66B | 2.68B | 2.51B | 10.11B |
Other Non-Current Assets | 0 | 0 | 126.33M | 110.79M | 267M | 206M | 1.43B | 4.02B | 29.51B | 5.99B |
Total Assets | 102.36B▲ 0% | 110.77B▲ 8.2% | 18.87B▼ 83.0% | 23.82B▲ 26.2% | 194.51B▲ 716.5% | 241.26B▲ 24.0% | 314.49B▲ 30.4% | 465.8B▲ 48.1% | 542.9B▲ 16.6% | 559.22B▲ 0% |
Asset Turnover | 1.09x | 1.01x | 6.47x | 5.33x | 0.72x | 0.73x | 0.74x | 0.62x | 0.57x | 0.63x |
Asset Growth % | 4.94% | 8.22% | -82.97% | 26.25% | 716.5% | 24.03% | 30.35% | 48.11% | 16.55% | 868.02% |
Total Current Liabilities | 47.06B | 54.16B | 8.86B | 11.55B | 99.52B | 120.94B | 169.66B | 217.53B | 215.66B | 225.16B |
Accounts Payable | 5.61B | 6.76B | 955.08M | 939.76M | 8.87B | 15.59B | 25.61B | 28.85B | 19.76B | 134.05B |
Days Payables Outstanding | 116.13 | 139.97 | 17.35 | 16.39 | 136.85 | 199.99 | 261.32 | 236.49 | 122.67 | 315.82 |
Short-Term Debt | 1.69B | 515M | 221.42M | 1.23B | 12.86B | 480M | 5.3B | 11.78B | 12.02B | 27.21B |
Deferred Revenue (Current) | 39.44B | 44.87B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 29.89B | 40.31B | 7.05B | 8.74B | 73.3B | 103.89B | 38.14B | 165.85B | 175.47B | 47.75B |
Current Ratio | 1.28x | 1.09x | 1.06x | 0.94x | 0.86x | 0.89x | 0.82x | 0.74x | 0.80x | 0.79x |
Quick Ratio | 0.95x | 0.79x | 0.76x | 0.67x | 0.66x | 0.69x | 0.64x | 0.55x | 0.57x | 0.56x |
Cash Conversion Cycle | 279.06 | 286.25 | 42.35 | 49.99 | 287.19 | 231.54 | 181.6 | 208.27 | 274.82 | 80.51 |
Total Non-Current Liabilities | 5.48B | 4.77B | 1.36B | 1.86B | 24.25B | 36.83B | 38.27B | 104.78B | 133.19B | 131B |
Long-Term Debt | 0 | 0 | 0 | 0 | 9.65B | 20.77B | 15.98B | 84.25B | 110.37B | 119.17B |
Capital Lease Obligations | 0 | 0 | 452.01M | 476.21M | 3.31B | 3.54B | 4.55B | 5.43B | 8.57B | 8.57B |
Deferred Tax Liabilities | 846M | 118M | 12.02M | 411.28M | 5.27B | 7.06B | 10.16B | 5.43B | 6.61B | 30.68B |
Other Non-Current Liabilities | 4.64B | 4.65B | 893.35M | 973.95M | 6.01B | 5.45B | 7.58B | 9.68B | 7.64B | 6.82B |
Total Liabilities | 52.54B | 58.93B | 10.22B | 13.41B | 123.76B | 157.77B | 207.93B | 322.31B | 348.86B | 356.16B |
Total Debt | 1.69B | 515M | 673.43M | 1.7B | 26.64B | 25.78B | 27.01B | 102.79B | 130.96B | 146.38B |
Net Debt | -17.16B | -15.12B | -1.65B | -394.67M | 15.93B | 13.13B | 12.61B | 87.13B | 104.49B | 125.25B |
Debt / Equity | 0.03x | 0.01x | 0.08x | 0.16x | 0.38x | 0.31x | 0.25x | 0.72x | 0.67x | 0.72x |
Debt / EBITDA | 0.03x | 0.01x | 0.01x | 0.03x | 0.41x | 0.31x | 0.24x | 0.70x | 0.88x | 0.86x |
Net Debt / EBITDA | -0.33x | -0.30x | -0.03x | -0.01x | 0.25x | 0.16x | 0.11x | 0.59x | 0.70x | 0.74x |
Interest Coverage | 541.89x | 561.18x | 221.70x | 137.23x | 205.43x | 183.70x | 194.13x | 78.56x | 32.03x | 18.90x |
Total Equity | 49.81B▲ 0% | 51.84B▲ 4.1% | 8.65B▼ 83.3% | 10.41B▲ 20.3% | 70.75B▲ 579.6% | 83.49B▲ 18.0% | 106.56B▲ 27.6% | 143.49B▲ 34.7% | 194.05B▲ 35.2% | 203.06B▲ 0% |
Equity Growth % | 10.04% | 4.06% | -83.31% | 20.32% | 579.64% | 18.01% | 27.64% | 34.65% | 35.24% | 1062.08% |
Book Value per Share | 10.05 | 10.69 | 1.82 | 2.22 | 15.36 | 18.37 | 23.71 | 32.15 | 43.63 | 45.65 |
Total Shareholders' Equity | 49.81B | 51.84B | 8.65B | 10.41B | 70.75B | 83.49B | 106.56B | 143.49B | 194.05B | 203.06B |
Common Stock | 500M | 490M | 72.1M | 77.26M | 462M | 456M | 451M | 446M | 446M | 446M |
Retained Earnings | 48.98B | 53.41B | 8.69B | 10.48B | 72B | 80.59B | 104.84B | 144.45B | 195.3B | 206.42B |
Treasury Stock | -11M | -11M | -1.5M | -1.32M | -6M | -6M | -5M | -2M | -2M | -2M |
Accumulated OCI | 349M | -2.05B | -104.25M | -149.75M | -1.71B | 2.45B | 1.28B | -1.41B | -1.7B | -3.8B |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NVO Cash Flow Statement
Novo Nordisk A/S (NVO) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 41.17B | 44.62B | 46.78B | 51.95B | 55B | 78.89B | 108.91B | 120.97B | 119.1B | 118.59B |
Operating CF Margin % | 36.86% | 39.9% | 38.34% | 40.92% | 39.06% | 44.58% | 46.89% | 41.66% | 38.54% | - |
Operating CF Growth % | -14.79% | 8.38% | 4.85% | 11.05% | 5.87% | 43.43% | 38.06% | 11.07% | -1.54% | -54.22% |
Net Income | 38.13B | 38.63B | 38.95B | 42.14B | 47.76B | 55.52B | 83.68B | 100.99B | 102.43B | 121.96B |
Depreciation & Amortization | 3.18B | 3.92B | 5.66B | 5.75B | 6.03B | 7.36B | 9.41B | 19.11B | 21.98B | 21.69B |
Stock-Based Compensation | 292M | 414M | 363M | 823M | 1.04B | 1.54B | 2.15B | 2.29B | 0 | 0 |
Deferred Taxes | 10.55B | 8.99B | 9.6B | 10.99B | 11.32B | 13.54B | 20.99B | 26.2B | 28.11B | 33.72B |
Other Non-Cash Items | -7.35B | -3.97B | -4.41B | -3.4B | -2.49B | 6.46B | 4.92B | -30.21B | -37.16B | -45.71B |
Working Capital Changes | -3.63B | -3.37B | -3.39B | -4.35B | -8.66B | -5.54B | -12.24B | 2.59B | 3.74B | -13.07B |
Change in Receivables | 69M | -2.62B | -2.13B | -2.82B | -12.91B | -10.82B | -14.21B | -14.31B | 0 | 0 |
Change in Inventory | -1.03B | -963M | -1.3B | -895M | -1.08B | -4.77B | -7.42B | -9.04B | 0 | 0 |
Change in Payables | -401M | 1.15B | -398M | -641M | 3.15B | 6.72B | 10.02B | 3.24B | 0 | 0 |
Cash from Investing | -6.57B | -12.08B | -11.51B | -22.44B | -31.61B | -24.92B | -43.89B | -128.9B | -79.16B | -84.2B |
Capital Expenditures | -8.65B | -12.41B | -11.23B | -22.08B | -7.38B | -12.15B | -25.81B | -47.16B | -60.14B | -58.03B |
CapEx % of Revenue | 7.74% | 11.1% | 9.2% | 17.39% | 5.24% | 6.86% | 11.11% | 16.24% | 19.46% | 17.7% |
Acquisitions | 1.02B | 368M | -100M | -392M | -18.28B | -7.08B | 0 | -82.16B | 1B | 1.05B |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | -987M | 32M | 24M | -16.23B | 4M | -2.61B | -13.09B | -4.14B | -29.97B | -29.27B |
Cash from Financing | -35.69B | -34.52B | -35.48B | -32.24B | -25.49B | -51.8B | -63.16B | 8.73B | -28.41B | -51.29B |
Debt Issued (Net) | 0 | 94M | -741M | 4.73B | 15.47B | -2.41B | -1.47B | 73.06B | 24.74B | 24.16B |
Equity Issued (Net) | -16.84B | -15.57B | -15.33B | -16.86B | -19.45B | -24.09B | -29.92B | -20.18B | -1.39B | -2.4B |
Dividends Paid | -18.84B | -19.05B | -19.41B | -20.12B | -21.52B | -25.3B | -31.77B | -44.14B | -51.76B | -51.8B |
Share Repurchases | -16.84B | -15.57B | -15.33B | -16.86B | -19.45B | -24.09B | -29.92B | -20.18B | -1.39B | -2.4B |
Other Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -21.25B |
Net Change in Cash | -1.3B▲ 0% | -1.53B▼ 17.3% | -218M▲ 85.7% | -3.19B▼ 1361.0% | -1.51B▲ 52.7% | 1.93B▲ 228.3% | 1.74B▼ 10.1% | 1.26B▼ 27.4% | 10.81B▲ 755.8% | -17.81B▲ 0% |
Free Cash Flow | 32.52B▲ 0% | 32.21B▼ 1.0% | 35.55B▲ 10.4% | 29.87B▼ 16.0% | 47.62B▲ 59.4% | 64.13B▲ 34.7% | 70.01B▲ 9.2% | 69.66B▼ 0.5% | 28.99B▼ 58.4% | 31.03B▲ 0% |
FCF Margin % | 29.11% | 28.8% | 29.14% | 23.53% | 33.82% | 36.24% | 30.14% | 23.99% | 9.38% | 9.47% |
FCF Growth % | -18.8% | -0.97% | 10.39% | -15.98% | 59.41% | 34.69% | 9.17% | -0.5% | -58.38% | -58.27% |
FCF per Share | 6.56 | 6.64 | 7.47 | 6.38 | 10.34 | 14.11 | 15.58 | 15.61 | 6.52 | 6.97 |
FCF Conversion (FCF/Net Income) | 1.08x | 1.16x | 1.20x | 1.23x | 1.15x | 1.42x | 1.30x | 1.20x | 1.16x | 0.25x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NVO Key Ratios
Novo Nordisk A/S (NVO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 80.2% | 76% | 128.78% | 442.14% | 117.69% | 72% | 88.07% | 80.78% | 60.7% | 66.36% |
Return on Invested Capital (ROIC) | 123.52% | 102.16% | 180.08% | 477.16% | 90.98% | 61.22% | 71.3% | 55.04% | 36.19% | 39.96% |
Gross Margin | 84.21% | 84.25% | 83.54% | 83.51% | 83.2% | 83.92% | 84.6% | 84.67% | 80.98% | 81.85% |
Net Margin | 34.14% | 34.54% | 31.92% | 33.19% | 33.92% | 31.38% | 36.03% | 34.78% | 33.14% | 37.2% |
Debt / Equity | 0.03x | 0.01x | 0.08x | 0.16x | 0.38x | 0.31x | 0.25x | 0.72x | 0.67x | 0.72x |
Interest Coverage | 541.89x | 561.18x | 221.70x | 137.23x | 205.43x | 183.70x | 194.13x | 78.56x | 32.03x | 18.90x |
FCF Conversion | 1.08x | 1.16x | 1.20x | 1.23x | 1.15x | 1.42x | 1.30x | 1.20x | 1.16x | 0.25x |
Revenue Growth | -0.08% | 0.12% | 9.11% | 4.04% | 10.91% | 25.68% | 31.25% | 25.03% | 6.43% | 8.13% |
Related:NVO Dividend History·NVO Revenue History·NVO Price History·NVO P/E History·NVO Financial Ratios·NVO Institutional Holders
NVO Frequently Asked Questions
Novo Nordisk A/S (NVO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Novo Nordisk A/S (NVO) reported $327.80B in revenue for fiscal year 2025. This represents a 2099% increase from $14.90B in 1996.
Novo Nordisk A/S (NVO) grew revenue by 6.4% over the past year. This is steady growth.
Yes, Novo Nordisk A/S (NVO) is profitable, generating $121.96B in net income for fiscal year 2025 (33.1% net margin).
Dividend & Returns
Yes, Novo Nordisk A/S (NVO) pays a dividend with a yield of 4.15%. This makes it attractive for income-focused investors.
Novo Nordisk A/S (NVO) has a return on equity (ROE) of 60.7%. This is excellent, indicating efficient use of shareholder capital.
Novo Nordisk A/S (NVO) generated $31.03B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.