NOVO NORDISK A S

NVO NYSE Healthcare

$62.26

Jan 23, 2026

Mkt Cap: $276.7B

ROC: 71.9% EY: 38.1%

Price History

Avg P/E: 3.3 Avg P/FCF: 4.0

Income Statement

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Revenue	107.9B	111.8B	111.7B	111.8B	122.0B	126.9B	140.8B	177.0B	232.3B	290.4B
Cost of Revenue	16.2B	17.2B	17.6B	17.6B	20.1B	20.9B	23.7B	28.4B	35.8B	44.5B
Gross Profit	91.7B	94.6B	94.1B	94.2B	101.9B	106.0B	117.1B	148.5B	196.5B	245.9B
Operating Expenses	42.3B	46.2B	45.1B	47.0B	49.5B	51.9B	58.5B	73.7B	93.9B	117.5B
Operating Income	49.4B	48.4B	49.0B	47.2B	52.5B	54.1B	58.6B	74.8B	102.6B	128.3B
Interest Expense	67.0M	65.0M	90.0M	0	0	0	0	0	0	0
Pre-Tax Income	43.5B	47.8B	48.7B	47.6B	48.6B	53.1B	59.1B	69.1B	104.7B	127.2B
Income Tax	8.6B	9.9B	10.6B	9.0B	9.6B	11.0B	11.3B	13.5B	21.0B	26.2B
Net Income	34.9B	37.9B	38.1B	38.6B	39.0B	42.1B	47.8B	55.5B	83.7B	101.0B
EPS (Basic)	6.80	7.50	7.70	8.00	8.20	9.00	10.40	12.26	18.67	22.67
EPS (Diluted)	6.80	7.50	7.70	8.00	8.20	9.00	10.37	12.22	18.62	22.63
Shares Outstanding	5.2B	5.2B	5.1B	5.0B	4.9B	4.7B	4.6B	4.5B	4.6B	4.5B

Years 16 - 25 of 25

Balance Sheet

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Cash & Equivalents	16.9B	18.7B	18.9B	15.6B	15.5B	12.8B	10.7B	12.7B	14.4B	15.7B
Short-term Investments	3.5B	2.0B	0	0	0	0	6.8B	10.9B	15.8B	10.7B
Accounts Receivable	15.5B	20.2B	20.2B	22.8B	24.9B	27.7B	40.6B	50.6B	64.8B	71.9B
Inventory	12.8B	14.3B	15.4B	16.3B	17.6B	18.5B	19.6B	24.4B	31.8B	40.8B
Total Current Assets	55.1B	59.8B	60.1B	59.1B	62.5B	65.8B	85.6B	108.2B	139.6B	160.9B
Property & Equipment	25.5B	30.2B	35.2B	41.9B	50.6B	50.3B	55.4B	66.7B	91.0B	162.5B
Goodwill & Intangibles	2.2B	2.7B	3.3B	5.1B	5.8B	20.7B	43.2B	50.9B	60.4B	111.1B
Total Assets	91.8B	97.5B	102.4B	110.8B	125.6B	144.9B	194.5B	241.3B	314.5B	465.8B
Accounts Payable	4.9B	6.0B	5.6B	6.8B	6.4B	5.7B	8.9B	15.6B	25.6B	28.8B
Short-term Debt	1.1B	229.0M	1.7B	515.0M	1.5B	7.5B	13.7B	1.5B	6.5B	13.1B
Total Current Liabilities	40.9B	47.4B	47.1B	54.2B	59.0B	70.3B	99.5B	120.9B	169.7B	217.5B
Long-term Debt	0	0	0	0	3.0B	2.9B	13.0B	24.3B	20.5B	89.7B
Total Liabilities	44.8B	52.3B	52.5B	58.9B	68.0B	81.6B	123.8B	157.8B	207.9B	322.3B
Total Equity	47.0B	45.3B	49.8B	51.8B	57.6B	63.3B	70.7B	83.5B	106.6B	143.5B
Total Liab. & Equity	-	-	-	-	-	-	-	-	-	-

Years 16 - 25 of 25

Cash Flow Statement

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income	34.9B	37.9B	38.1B	38.6B	39.0B	42.1B	47.8B	55.5B	83.7B	101.0B
Depreciation & Amort.	3.0B	3.2B	3.2B	3.9B	5.7B	5.8B	6.0B	7.4B	9.4B	19.1B
Operating Cash Flow	38.3B	48.3B	41.2B	44.6B	46.8B	52.0B	55.0B	78.9B	108.9B	121.0B
Capital Expenditures	-5.2B	-7.1B	-7.6B	-9.6B	-8.9B	-5.8B	-6.3B	-12.1B	-25.8B	-47.2B
Acquisitions	2.3B	26.0M	26.0M	387.0M	-80.0M	-374.0M	-18.3B	-7.1B	0	-82.2B
Investing Cash Flow	-6.1B	-6.8B	-6.6B	-12.1B	-11.5B	-22.4B	-31.6B	-24.9B	-43.9B	-128.9B
Dividends Paid	-12.9B	-23.8B	-18.8B	-19.0B	-19.4B	-20.1B	-21.5B	-25.3B	-31.8B	-44.1B
Share Repurchases	-17.2B	-15.1B	-16.8B	-15.6B	-15.3B	-16.9B	-19.4B	-24.1B	-29.9B	-20.2B
Debt Issued/Repaid	0	0	0	94.0M	-741.0M	4.7B	15.5B	-2.4B	-1.5B	73.1B
Financing Cash Flow	-30.1B	-38.9B	-35.7B	-34.5B	-35.5B	-32.2B	-25.5B	-51.8B	-63.2B	8.7B
Free Cash Flow	33.1B	41.3B	33.6B	35.0B	37.9B	46.1B	48.7B	66.7B	83.1B	73.8B
Net Change in Cash	2.2B	2.6B	-1.3B	-1.9B	-218.0M	-3.2B	-1.5B	1.9B	1.7B	1.3B

Years 16 - 25 of 25