Novo Nordisk A S
NVO NYSE· Pharmaceutical Preparations
Last close · Oct 26, 2026
$39.13
KIRA · Stoqly’s AI analyst, in plain words
- Novo Nordisk A S had $46.7B of revenue in fiscal 2025, up 10.9% on the year before. Over five years, revenue changed +19.2% a year on average.
- Its operating margin was 41.3%, down 2.9 pts: of every 100 in sales, about 41 is left after running the business.
- Novo Nordisk A S made $15.5B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 5.1% a year.
- Free cash flow was $8.9B in fiscal 2025, 19.1% of revenue.
- Novo Nordisk A S returned $8.0B to shareholders in fiscal 2025, 90% of free cash flow. The diluted share count fell 0.3%.
- Novo Nordisk A S owes $16.4B more than it holds in cash, about 0.8 years of operating profit.
Market cap
$174.0B
P/E
11.2x
Revenue
$46.7B
Net income
$15.5B
Free cash flow
$8.9B
Operating margin
41.3%
Novo Nordisk A S in 30 seconds · fiscal 2025
Are sales growing?
+10.9%
Yes. Sales grew 10.9% last year.
Does it make a profit?
33.1%
Yes. It keeps 33.1% of every sale as profit.
Does profit turn into cash?
19.1%
Yes. 19.1% of sales ends up as free cash.
Is debt under control?
0.8x
Yes. It could repay its debt with 0.8 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
11.2x
One share costs 11.2 times its yearly profit per share.
What Novo Nordisk A S does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Feb 4, 2026
- Legal name
- NOVO NORDISK A S
- CIK
- 0000353278
Novo Nordisk A S · NVO
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $22.4B | $25.0B | $33.7B | $42.1B | $46.7B |
| Revenue growth | 15.4% | 11.7% | 34.8% | 24.9% | 10.9% |
| Gross margin | 83.2% | 83.9% | 84.6% | 84.7% | 81.0% |
| Operating margin | 41.7% | 42.3% | 44.2% | 44.2% | 41.3% |
| Net income | $7.6B | $7.8B | $12.1B | $14.6B | $15.5B |
| Net margin | 33.9% | 31.4% | 36.0% | 34.8% | 33.1% |
| Diluted EPS | $1.65 | $1.73 | $2.70 | $3.28 | $3.48 |
| Cash | |||||
| Cash from operations | $8.7B | $11.1B | $15.8B | $17.5B | $18.0B |
| Capital expenditure | $1.0B | $1.7B | $3.7B | $6.8B | $9.1B |
| Free cash flow | $7.7B | $9.4B | $12.1B | $10.7B | $8.9B |
| FCF margin | 34.6% | 37.7% | 35.8% | 25.4% | 19.1% |
| Dividends paid | $3.4B | $3.6B | $4.6B | $6.4B | $7.8B |
| Share buybacks | $3.1B | $3.4B | $4.3B | $2.9B | $210M |
| Share count change | 96.8% | −1.3% | −1.1% | −0.7% | −0.3% |
| Debt and strength | |||||
| Cash and short-term investments | $1.6B | $1.8B | $2.1B | $2.2B | $4.2B |
| Debt incl. finance leases | $4.1B | $3.7B | $4.0B | $14.3B | $20.6B |
| Shareholders' equity | $10.8B | $12.0B | $15.8B | $20.0B | $30.5B |
| Net debt / EBITDA | 0.2x | 0.2x | 0.1x | 0.6x | 0.8x |
| Current ratio | 0.9x | 0.9x | 0.8x | 0.7x | 0.8x |
| Interest coverage | 202.9x | 197.9x | 189.3x | 78.3x | 30.3x |
| Returns and quality | |||||
| Return on capital | 57.1% | 61.3% | 67.4% | 46.0% | 32.2% |
| Return on equity | 71.6% | 69.0% | 87.5% | 81.9% | 61.3% |
| Return on tangible equity | 180.8% | 168.0% | 177.5% | 321.9% | 153.7% |
| Piotroski F-score | 3 | 7 | 8 | 5 | 5 |
| Altman Z'' | 3.5 | 3.4 | 3.1 | 2.6 | 2.8 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Novo Nordisk A S · NVO
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $39.13 a share, the company is worth $174.0B: 11.2 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0000353278). Data updated October 24, 2026. Filed in DKK under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.