Last 47 quarters of trend data · Healthcare · Drug Manufacturers - General
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 11.40 | 2.53 | 0.84 | 2.11 | 3.08 | 2.90 | 2.66 | 3.40 | 4.86 | 7.95 | 5.65 | 5.27 | 4.55 | 4.68 | 4.53 | 5.62 | 3.92 | 4.75 | 4.46 | 5.88 | 4.55 |
| — | -12.7% | -68.3% | -38.0% | -36.6% | -63.6% | -53.0% | -35.5% | +7.0% | +69.7% | +24.7% | -6.3% | +16.1% | -1.5% | +1.5% | -4.5% | -13.9% | +19.4% | +44.6% | +34.8% | +15.8% | |
| P/S Ratio | 3.77 | 0.68 | 0.42 | 0.71 | 0.82 | 1.00 | 0.99 | 1.12 | 1.86 | 2.34 | 2.20 | 1.76 | 1.74 | 1.68 | 1.68 | 1.59 | 1.24 | 1.54 | 1.51 | 1.67 | 1.55 |
| — | -32.2% | -57.3% | -36.1% | -55.8% | -57.4% | -55.0% | -36.3% | +7.2% | +39.6% | +30.5% | +10.5% | +40.1% | +9.2% | +11.5% | -5.0% | -19.9% | +5.1% | +30.6% | +32.4% | +18.1% | |
| P/B Ratio | 6.02 | 0.96 | 0.81 | 1.17 | 1.45 | 1.83 | 2.23 | 2.67 | 4.41 | 39.42 | 5.80 | 4.35 | 30.92 | 27.48 | 30.83 | 3.67 | 22.37 | 24.23 | 25.47 | 3.63 | 21.41 |
| — | -47.4% | -63.9% | -56.4% | -67.0% | -95.4% | -61.6% | -38.5% | -85.7% | +43.4% | -81.2% | +18.6% | +38.2% | +13.4% | +21.0% | +1.0% | +4.5% | +31.1% | +50.8% | -76.8% | +23.9% | |
| P/FCF | 40.23 | 1.25 | 3.39 | — | 2.01 | 3.13 | 7.72 | — | 4.24 | 4.28 | 27.05 | — | 3.36 | 4.23 | 3.59 | 35.75 | 2.82 | 2.97 | 2.91 | — | 2.78 |
| — | -59.9% | -56.0% | — | -52.6% | -26.8% | -71.5% | — | +25.9% | +1.1% | +653.6% | — | +19.1% | +42.6% | +23.5% | — | +1.5% | +43.5% | -27.3% | — | -21.6% | |
| EV / EBITDA | 8.49 | 2.06 | 1.14 | 2.22 | 2.51 | 2.53 | 2.28 | 2.81 | 3.69 | 4.59 | 4.28 | 4.00 | 3.46 | 3.50 | 3.37 | 4.36 | 2.54 | 3.17 | 3.07 | 4.34 | 3.29 |
| — | -18.5% | -49.8% | -21.0% | -31.9% | -44.8% | -46.7% | -29.8% | +6.6% | +31.0% | +26.8% | -8.3% | +36.4% | +10.4% | +9.9% | +0.4% | -22.7% | +5.9% | +28.2% | +34.4% | +23.6% | |
| EV / EBIT | 9.95 | 2.72 | 1.10 | 2.42 | 3.09 | 2.50 | 2.30 | 2.90 | 3.77 | 5.93 | 4.37 | 4.66 | 3.37 | 3.72 | 3.49 | 9.64 | 2.59 | 3.17 | 3.30 | 5.81 | 3.40 |
| — | +8.6% | -52.2% | -16.5% | -17.9% | -57.8% | -47.4% | -37.9% | +11.9% | +59.5% | +25.4% | -51.6% | +30.0% | +17.4% | +5.7% | +65.8% | -23.7% | -2.2% | +40.9% | +47.7% | +11.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.0% | 78.2% | 86.0% | 80.9% | 76.1% | 83.3% | 83.5% | 84.8% | 84.1% | 84.9% | 84.8% | 84.8% | 83.5% | 85.5% | 84.7% | 82.8% | 84.2% | 85.3% | 83.5% | 83.7% | 83.0% |
| — | -6.1% | +2.9% | -4.6% | -9.5% | -1.9% | -1.6% | +0.0% | +0.8% | -0.7% | +0.2% | +2.4% | -0.9% | +0.3% | +1.3% | -1.1% | +1.5% | +2.5% | +0.9% | +1.5% | -0.4% | |
| Operating Margin | 41.3% | 34.5% | 61.6% | 40.1% | 31.6% | 43.5% | 49.7% | 42.9% | 47.4% | 38.1% | 48.7% | 40.6% | 45.8% | 44.0% | 46.9% | 35.5% | 44.3% | 44.6% | 45.6% | 35.6% | 42.8% |
| — | -20.8% | +24.0% | -6.5% | -33.4% | +14.2% | +1.9% | +5.5% | +3.5% | -13.4% | +4.0% | +14.4% | +3.4% | -1.3% | +2.9% | -0.1% | +3.5% | -0.4% | +2.8% | +2.3% | +3.4% | |
| Net Margin | 33.1% | 26.7% | 50.2% | 34.0% | 26.7% | 34.5% | 37.2% | 32.9% | 38.3% | 29.5% | 38.9% | 33.3% | 38.3% | 35.8% | 37.1% | 28.3% | 31.6% | 32.3% | 33.8% | 28.4% | 34.0% |
| — | -22.5% | +34.9% | +3.1% | -30.3% | +17.1% | -4.4% | -1.2% | +0.0% | -17.7% | +4.7% | +18.0% | +21.1% | +10.9% | +9.8% | -0.5% | -7.1% | -12.0% | -9.5% | -2.0% | +2.2% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 60.7% | 9.9% | 24.5% | 14.8% | 11.8% | 17.3% | 20.6% | 21.4% | 39.9% | 34.8% | 24.7% | 36.7% | 169.9% | 156.0% | 41.7% | 29.0% | 140.1% | 130.4% | 35.2% | 26.9% | 116.8% |
| — | -42.8% | +18.8% | -30.9% | -70.4% | -50.4% | -16.7% | -41.7% | -76.5% | -77.7% | -40.6% | +26.3% | +21.3% | +19.6% | +18.3% | +8.1% | +20.0% | +6.0% | -72.6% | -71.5% | +4.5% | |
| ROA | 20.3% | 3.6% | 8.8% | 5.1% | 4.0% | 5.5% | 6.1% | 6.5% | 12.1% | 11.4% | 8.3% | 12.3% | 53.7% | 50.1% | 14.3% | 9.9% | 45.9% | 44.2% | 12.7% | 9.8% | 46.3% |
| — | -33.4% | +44.9% | -22.1% | -66.8% | -52.1% | -26.6% | -46.8% | -77.4% | -77.2% | -41.9% | +23.6% | +17.0% | +13.3% | +12.5% | +1.2% | -0.9% | -13.3% | -76.8% | -75.8% | -4.3% | |
| ROIC | 36.2% | 6.3% | 14.3% | 8.9% | 7.3% | 10.7% | 13.0% | 15.7% | 37.0% | 28.5% | 20.0% | 30.4% | 152.0% | 132.4% | 34.2% | 24.1% | 146.9% | 122.0% | 29.2% | 21.6% | 137.5% |
| — | -41.4% | +10.1% | -43.6% | -80.3% | -62.4% | -35.2% | -48.4% | -75.7% | -78.5% | -41.4% | +26.4% | +3.5% | +8.5% | +17.1% | +11.3% | +6.8% | +2.7% | -74.2% | -79.3% | -14.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.67 | 0.63 | 0.72 | 0.67 | 0.60 | 0.59 | 0.86 | 0.72 | 0.47 | 0.51 | 0.27 | 0.25 | 0.29 | 0.28 | 0.32 | 0.31 | 0.34 | 0.34 | 0.38 | 0.38 | 0.21 |
| — | +7.2% | -15.9% | -5.8% | +26.0% | +16.5% | +214.8% | +182.7% | +65.6% | +78.5% | -14.8% | -17.9% | -15.7% | -16.8% | -16.6% | -18.0% | +62.9% | +62.7% | +132.0% | +130.3% | +201.9% | |
| Debt / EBITDA | 0.88 | 3.75 | 2.32 | 3.51 | 3.22 | 2.59 | 2.79 | 2.45 | 1.58 | 0.24 | 0.77 | 0.91 | 0.13 | 0.14 | 0.14 | 1.41 | 0.15 | 0.18 | 0.18 | 1.70 | 0.13 |
| — | +44.6% | -16.8% | +43.2% | +103.3% | +999.8% | +259.6% | +170.1% | +1137.4% | +63.2% | +456.3% | -35.5% | -16.9% | -19.1% | -24.0% | -17.0% | +19.3% | +30.1% | +96.5% | +1150.6% | +198.3% | |
| Current Ratio | 0.80 | 0.87 | 0.79 | 0.80 | 0.78 | 0.78 | 0.74 | 0.74 | 0.94 | 0.94 | 0.70 | 0.82 | 0.82 | 0.88 | 0.86 | 0.89 | 0.92 | 0.94 | 0.91 | 0.86 | 1.03 |
| — | +11.3% | +6.6% | +8.1% | -17.1% | -17.0% | +5.1% | -10.1% | +13.7% | +7.6% | -18.6% | -8.0% | -10.2% | -6.5% | -4.6% | +4.0% | -11.2% | -11.4% | +6.7% | -8.2% | -0.5% | |
| Quick Ratio | 0.57 | 0.66 | 0.56 | 0.57 | 0.57 | 0.56 | 0.56 | 0.55 | 0.75 | 0.75 | 0.50 | 0.64 | 0.65 | 0.70 | 0.67 | 0.69 | 0.74 | 0.74 | 0.69 | 0.66 | 0.82 |
| — | +16.7% | +0.4% | +3.2% | -24.0% | -24.9% | +11.4% | -13.2% | +15.6% | +7.4% | -25.3% | -8.3% | -11.6% | -5.6% | -3.4% | +4.5% | -9.7% | -7.5% | +17.4% | -1.5% | +4.5% | |
| Interest Coverage | 32.03 | 18.92 | 18.77 | — | — | 7.82 | 8.15 | 7.98 | 42.88 | 17.22 | 16.39 | 27.86 | 13.94 | 87.31 | 23.05 | 11.33 | 5.84 | 6.16 | 13.46 | 15.01 | 17.30 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NVO stock.
Novo Nordisk A/S's current P/E is 11.4x. The average P/E over the last 4 quarters is 2.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Novo Nordisk A/S's current operating margin is 41.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Novo Nordisk A/S's business trajectory between earnings reports.