NVO Chart
About

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes 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 NovoPen 6 and NovoPen Echo Plus, smart insulin pens; Dose Check, an insulin dose guidance application; and growth hormone pens and injection needles. It operates in Europe, Canada, the United States, Japan, Korea, Oceania, Southeast Asia, Mainland China, Hong Kong and Taiwan, Latin America, the Middle East, and Africa. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Drug Manufacturers - Gen Market Cap 174.91B
Enterprise Value 275.45B Income 102.43B Sales 309.06B
Book/sh 6.73 Cash/sh 6.07 Dividend Yield 4.82%
Payout 50.42% Employees 68794 IPO
P/E 11.05 Forward P/E 11.76 PEG
P/S 0.57 P/B 5.83 P/C
EV/EBITDA 1.80 EV/Sales 0.89 Quick Ratio 0.54
Current Ratio 0.80 Debt/Eq 67.49 LT Debt/Eq
EPS (ttm) 3.55 EPS next Y 3.33 EPS Growth -4.70%
Revenue Growth -7.60% Earnings 2026-05-06 ROA 17.43%
ROE 60.70% ROIC Gross Margin 82.41%
Oper. Margin 44.53% Profit Margin 33.14% Shs Outstand 3.37B
Shs Float 3.19B Short Float 0.89% Short Ratio 0.99
Short Interest 52W High 82.57 52W Low 35.85
Beta 0.27 Avg Volume 24.50M Volume 2.10M
Target Price $47.44 Recom Buy Prev Close $38.58
Price $39.22 Change 1.66%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$47.35
Mean price target
2. Current target
$38.58
Latest analyst target
3. DCF / Fair value
$2.01
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$38.58
Low
$39.75
High
$63.45
Mean
$47.35

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-02 down Goldman Sachs Buy → Neutral $41
2026-02-24 down JP Morgan Overweight → Neutral
2026-01-09 init CICC — → Outperform $74
2025-12-08 down Argus Research Buy → Hold
2025-11-28 main Goldman Sachs Buy → Buy $54
2025-11-25 main BMO Capital Market Perform → Market Perform $46
2025-11-24 down HSBC Buy → Hold
2025-10-14 main BMO Capital Market Perform → Market Perform $55
2025-10-02 up HSBC Hold → Buy $70
2025-09-29 down Morgan Stanley Equal-Weight → Underweight $47
2025-09-17 up Berenberg Hold → Buy
2025-08-19 main TD Cowen Buy → Buy $70
2025-08-05 down UBS Buy → Neutral
2025-07-31 down HSBC Buy → Hold
2025-07-30 down Barclays Overweight → Equal-Weight
2025-06-18 reit TD Cowen Buy → Buy $105
2025-04-17 down BMO Capital Outperform → Market Perform $64
2025-01-08 up UBS Sell → Buy
2024-12-23 main BMO Capital Outperform → Outperform $105
2024-11-06 reit Cantor Fitzgerald Overweight → Overweight $160
Insider Transactions

No recent insider transactions.

Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems1.31B-214.25M339.49M-1.03B
TaxRateForCalcs0.220.210.200.20
NormalizedEBITDA150.65B148.98B112.94B82.04B
TotalUnusualItems6.08B-1.04B1.69B-5.24B
TotalUnusualItemsExcludingGoodwill6.08B-1.04B1.69B-5.24B
NetIncomeFromContinuingOperationNetMinorityInterest102.43B100.99B83.68B55.52B
ReconciledDepreciation21.98B19.11B9.41B7.36B
ReconciledCostOfRevenue58.79B44.52B35.77B28.45B
EBITDA156.73B147.94B114.63B76.80B
EBIT134.75B128.83B105.22B69.44B
NetInterestIncome-3.18B-91.00M330.00M-320.00M
InterestExpense4.21B1.64B542.00M378.00M
InterestIncome1.27B1.84B1.07B239.00M
NormalizedIncome97.66B101.81B82.33B59.74B
NetIncomeFromContinuingAndDiscontinuedOperation102.43B100.99B83.68B55.52B
TotalExpenses181.41B162.06B129.69B102.14B
TotalOperatingIncomeAsReported127.66B128.34B102.57B74.81B
DilutedAverageShares4.45B4.46B4.49B4.54B
BasicAverageShares4.44B4.45B4.48B4.53B
DilutedEPS23.0322.6318.6212.22
BasicEPS23.0622.6718.6712.26
DilutedNIAvailtoComStockholders102.43B100.99B83.68B55.52B
NetIncomeCommonStockholders102.43B100.99B83.68B55.52B
NetIncome102.43B100.99B83.68B55.52B
NetIncomeIncludingNoncontrollingInterests102.43B100.99B83.68B55.52B
NetIncomeContinuousOperations102.43B100.99B83.68B55.52B
TaxProvision28.11B26.20B20.99B13.54B
PretaxIncome130.54B127.19B104.67B69.06B
OtherIncomeExpense6.06B-1.06B1.77B-5.43B
EarningsFromEquityInterest-17.00M-17.00M81.00M-189.00M
GainOnSaleOfSecurity6.08B-1.04B1.69B-5.24B
NetNonOperatingInterestIncomeExpense-3.18B-91.00M330.00M-320.00M
TotalOtherFinanceCost241.00M289.00M197.00M181.00M
InterestExpenseNonOperating4.21B1.64B542.00M378.00M
InterestIncomeNonOperating1.27B1.84B1.07B239.00M
OperatingIncome127.66B128.34B102.57B74.81B
OperatingExpense122.62B117.54B93.92B73.70B
OtherOperatingExpenses300.00M2.10B-119.00M-1.03B
ResearchAndDevelopment52.04B48.06B32.44B24.05B
SellingGeneralAndAdministration70.28B67.38B61.60B50.68B
SellingAndMarketingExpense64.31B62.10B56.74B46.22B
GeneralAndAdministrativeExpense5.97B5.28B4.86B4.47B
OtherGandA5.97B5.28B4.86B4.47B
GrossProfit250.28B245.88B196.50B148.51B
CostOfRevenue58.79B44.52B35.77B28.45B
TotalRevenue309.06B290.40B232.26B176.95B
OperatingRevenue729.42B680.56B608.64B455.69B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber21.52M23.66M51.71M60.20M
OrdinarySharesNumber4.44B4.44B4.46B4.50B
ShareIssued4.46B4.46B4.51B4.56B
NetDebt95.92B80.37B6.89B8.60B
TotalDebt130.96B102.79B27.01B25.78B
TangibleBookValue63.99B32.66B46.16B32.55B
InvestedCapital316.43B239.51B127.84B104.74B
WorkingCapital-43.21B-55.83B-30.01B-12.75B
NetTangibleAssets63.99B32.66B46.16B32.55B
CapitalLeaseObligations8.57B6.77B5.73B4.53B
CommonStockEquity194.05B143.49B106.56B83.49B
TotalCapitalization305.75B227.73B122.54B104.26B
TotalEquityGrossMinorityInterest194.05B143.49B106.56B83.49B
StockholdersEquity194.05B143.49B106.56B83.49B
GainsLossesNotAffectingRetainedEarnings-1.70B-1.41B1.28B2.45B
OtherEquityAdjustments-1.70B-1.41B1.28B2.45B
TreasuryStock2.00M2.00M5.00M6.00M
RetainedEarnings195.30B144.45B104.84B80.59B
CapitalStock446.00M446.00M451.00M456.00M
CommonStock446.00M446.00M451.00M456.00M
TotalLiabilitiesNetMinorityInterest348.86B322.14B207.93B157.77B
TotalNonCurrentLiabilitiesNetMinorityInterest133.19B104.53B38.27B36.83B
OtherNonCurrentLiabilities23.00M189.00M100.00M360.00M
EmployeeBenefits861.00M903.00M742.00M762.00M
NonCurrentPensionAndOtherPostretirementBenefitPlans861.00M903.00M742.00M762.00M
TradeandOtherPayablesNonCurrent1.05B1.46B189.00M100.00M
NonCurrentDeferredLiabilities6.61B5.51B10.16B7.06B
NonCurrentDeferredTaxesLiabilities6.61B5.51B10.16B7.06B
LongTermDebtAndCapitalLeaseObligation118.94B89.67B20.53B24.32B
LongTermCapitalLeaseObligation7.24B5.43B4.55B3.54B
LongTermDebt111.70B84.25B15.98B20.77B
LongTermProvisions5.73B6.98B6.65B4.59B
CurrentLiabilities215.66B217.61B169.66B120.94B
OtherCurrentLiabilities41.75B42.90B29.98B26.51B
CurrentDebtAndCapitalLeaseObligation12.02B13.11B6.48B1.47B
CurrentCapitalLeaseObligation1.34B1.34B1.17B986.00M
CurrentDebt10.68B11.78B5.30B480.00M
OtherCurrentBorrowings9.75B5.98B4.85B12.50B
LineOfCredit183.00M449.00M456.00M480.00M
CommercialPaper745.00M5.34B0.00
CurrentNotesPayable0.000.00
CurrentProvisions374.00M289.00M100.48B70.29B
PayablesAndAccruedExpenses161.52B161.31B32.72B22.68B
Payables161.52B161.31B32.72B22.68B
TotalTaxPayable8.42B9.72B7.12B7.09B
AccountsPayable153.11B151.59B25.61B15.59B
TotalAssets542.90B465.63B314.49B241.26B
TotalNonCurrentAssets370.45B303.84B174.84B133.06B
NonCurrentDeferredAssets23.65B24.65B20.38B13.90B
NonCurrentDeferredTaxesAssets23.65B24.65B20.38B13.90B
NonCurrentAccountsReceivable5.86B4.02B1.43B206.00M
InvestmentsAndAdvances2.51B2.68B1.66B1.34B
InvestmentinFinancialAssets2.14B2.28B1.25B1.02B
AvailableForSaleSecurities2.14B2.28B1.25B1.02B
LongTermEquityInvestment366.00M400.00M410.00M327.00M
InvestmentsinAssociatesatCost366.00M400.00M410.00M327.00M
GoodwillAndOtherIntangibleAssets130.05B110.82B60.41B50.94B
OtherIntangibleAssets110.21B90.80B55.94B46.32B
Goodwill19.84B20.02B4.46B4.62B
NetPPE208.38B161.68B90.96B66.67B
AccumulatedDepreciation-58.94B-52.40B-47.62B-44.76B
GrossPPE267.31B214.08B138.58B111.43B
ConstructionInProgress130.62B85.50B39.66B22.36B
OtherProperties11.11B10.17B8.98B8.11B
MachineryFurnitureEquipment60.02B57.04B40.95B37.55B
Properties65.56B61.37B48.99B43.40B
CurrentAssets172.45B161.79B139.65B108.19B
HedgingAssetsCurrent6.68B6.33B2.34B2.73B
Inventory49.62B40.85B31.81B24.39B
InventoriesAdjustmentsAllowances-5.66B-3.73B-2.51B-1.72B
FinishedGoods11.99B8.87B7.22B6.04B
WorkInProcess25.86B22.34B17.60B13.67B
RawMaterials17.44B13.37B9.50B6.39B
Receivables89.19B88.31B75.26B57.51B
OtherReceivables13.48B13.50B8.07B6.00B
TaxesReceivable4.85B2.85B2.42B940.00M
AccountsReceivable70.86B71.95B64.77B50.56B
AllowanceForDoubtfulAccountsReceivable-1.99B-2.13B-1.79B-1.52B
GrossAccountsReceivable72.84B74.08B66.56B52.08B
CashCashEquivalentsAndShortTermInvestments26.96B26.31B30.23B23.57B
OtherShortTermInvestments498.00M10.65B15.84B10.92B
CashAndCashEquivalents26.46B15.65B14.39B12.65B
CashFinancial26.46B15.65B14.39B12.65B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow28.99B69.66B70.01B64.13B
RepurchaseOfCapitalStock-1.39B-20.18B-29.92B-24.09B
RepaymentOfDebt-79.19B-6.33B-1.47B-13.62B
IssuanceOfDebt103.93B79.39B0.0011.21B
CapitalExpenditure-90.11B-51.31B-38.90B-14.75B
EndCashPosition26.46B15.65B14.39B12.65B
BeginningCashPosition15.65B14.39B12.65B10.72B
EffectOfExchangeRateChanges-727.00M455.00M-119.00M-238.00M
ChangesInCash11.54B808.00M1.86B2.17B
FinancingCashFlow-28.41B8.73B-63.16B-51.80B
CashFlowFromContinuingFinancingActivities-28.41B8.73B-63.16B-51.80B
CashDividendsPaid-51.76B-44.14B-31.77B-25.30B
NetCommonStockIssuance-1.39B-20.18B-29.92B-24.09B
CommonStockPayments-1.39B-20.18B-29.92B-24.09B
NetIssuancePaymentsOfDebt24.74B73.06B-1.47B-2.41B
NetLongTermDebtIssuance24.74B73.06B-1.47B-2.41B
LongTermDebtPayments-79.19B-6.33B-1.47B-13.62B
LongTermDebtIssuance103.93B79.39B0.0011.21B
InvestingCashFlow-79.16B-128.90B-43.89B-24.92B
CashFlowFromContinuingInvestingActivities-79.16B-128.90B-43.89B-24.92B
DividendsReceivedCFI0.000.004.00M
NetInvestmentPurchaseAndSale9.95B4.58B-5.00B-3.09B
SaleOfInvestment10.67B24.39B8.29B6.64B
PurchaseOfInvestment-723.00M-19.81B-13.29B-9.73B
NetBusinessPurchaseAndSale1.00B-82.16B0.00-7.08B
SaleOfBusiness1.00B0.000.000.00
PurchaseOfBusiness0.00-82.16B0.00-7.08B
NetIntangiblesPurchaseAndSale-29.97B-4.14B-13.09B-2.61B
PurchaseOfIntangibles-29.97B-4.14B-13.09B-2.61B
NetPPEPurchaseAndSale-60.14B-47.16B-25.81B-12.15B
SaleOfPPE0.000.00
PurchaseOfPPE-60.14B-47.16B-25.81B-12.15B
OperatingCashFlow119.10B120.97B108.91B78.89B
CashFlowFromContinuingOperatingActivities119.10B120.97B108.91B78.89B
TaxesRefundPaid-32.01B-29.64B-25.90B-14.52B
InterestReceivedCFO1.40B1.88B1.07B276.00M
InterestPaidCFO-3.42B-612.00M-491.00M-272.00M
ChangeInWorkingCapital3.74B2.59B19.71B-5.54B
ChangeInOtherWorkingCapital2.51B-1.24B1.16B74.00M
ChangeInOtherCurrentLiabilities9.12B5.10B3.75B2.60B
ChangeInPayablesAndAccruedExpense-280.00M7.59B5.15B3.14B
ChangeInPayable-280.00M7.59B5.15B3.14B
ChangeInAccountPayable3.24B10.02B6.72B3.15B
ChangeInInventory-9.04B-7.42B-4.77B-1.08B
ChangeInReceivables-14.31B-16.27B-10.82B-13.79B
ChangesInAccountReceivables-7.18B-14.21B-9.92B-12.91B
OtherNonCashItems-3.12B445.00M424.00M2.37B
StockBasedCompensation2.29B2.15B1.54B1.04B
ProvisionandWriteOffofAssets21.03B32.23B18.46B
AssetImpairmentCharge10.56B809.00M
DeferredTax28.11B26.20B20.99B13.54B
DeferredIncomeTax28.11B26.20B20.99B13.54B
DepreciationAmortizationDepletion21.98B19.11B9.41B7.36B
DepreciationAndAmortization21.98B19.11B9.41B7.36B
AmortizationCashFlow2.51B1.60B
AmortizationOfIntangibles2.51B1.60B
Depreciation21.98B19.11B9.41B7.36B
OperatingGainsLosses-11.03B32.27B138.00M16.27B
PensionAndEmployeeBenefitExpense-119.00M32.24B615.00M16.58B
EarningsLossesFromEquityInvestments17.00M-81.00M189.00M24.00M
GainLossOnInvestmentSecurities-5.08B106.00M2.57B-340.00M
NetForeignCurrencyExchangeGainLoss-5.85B2.28B-3.24B
NetIncomeFromContinuingOperations102.43B100.99B83.68B55.52B
SEC Filings

No SEC filings found for this symbol (may be non-US or ticker not in SEC index).

Public Trades for NVO
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status