
Novo Nordisk A/S
NYSE•NVO
CEO: Mr. Lars Fruergaard Jorgensen
Sector: Healthcare
Industry: Drug Manufacturers - General
Listing Date: 1981-04-30
Novo 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.
Contact Information
Market Cap
$229.41B
P/E (TTM)
13.3
49.7
Dividend Yield
3.5%
52W High
$93.80
52W Low
$43.08
52W Range
Rank11Top 0.8%
7.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 7.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$11.74B+5.14%
4-Quarter Trend
EPS
$0.70-26.59%
4-Quarter Trend
FCF
$5.09B+2.36%
4-Quarter Trend
2024 Annual Earnings Highlights
Key Highlights
Wegovy Revenue Surges 86% GLP-1 obesity product Wegovy revenue grew 86% in 2024, reaching DKK 58B; driving strong growth across therapy areas.
Ozempic Sales Exceed 120B Leading product Ozempic global sales surpassed DKK 120B in 2024, maintaining market leadership in type 2 diabetes treatment.
Major Capacity Acquisition Completed Acquired three fill-finish sites for USD 11.7B (DKK 82.1B) to expand manufacturing capacity and provide future supply flexibility.
Obesity Care Sales Jump Total obesity care product sales reached DKK 65.1B in 2024, up from DKK 41.6B in 2023, reflecting massive market expansion.
Risk Factors
US Pricing Pressure Continues Average prices after rebates for the portfolio in the US declined in 2024; payers demand higher rebates, impacting net prices.
Periodic Supply Constraints Expected High product demand caused periodic supply constraints in 2024; continued constraints expected across products and geographies in 2025 outlook.
Victoza Sales Decline Post-Patent Victoza sales dropped to DKK 5.48B in 2024 from DKK 8.66B in 2023, following compound patent expiration and generic competition launch.
Cybersecurity Breach Risk High Reliance on complex global IT systems exposes company to risk of breaches, potentially causing critical system downtime or data disclosure.
Outlook
Massive API Capacity Investment DKK 42.4B expenditure planned for Kalundborg API production expansion (170,000 sqm), expected fully operational by 2029.
US Manufacturing Expansion Planned DKK 27.0B investment planned for Clayton, US manufacturing site expansion (130,000 sqm), adding aseptic production, operational 2029.
R&D Spending Ratio Increasing R&D cost to sales ratio expected to gradually increase, modestly expanding upon current 14-16% of sales due to increased clinical trial activities.
Peer Comparison
Revenue (TTM)
UNH$435.16B
MRK$64.24B
PFE$62.79B
Gross Margin (Latest Quarter)
MRK81.9%
AZN81.2%
GILD79.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| UNH | $294.22B | 16.8 | 18.6% | 25.4% |
| AZN | $285.69B | 34.1 | 20.2% | 28.5% |
| NVS | $272.24B | 19.1 | 34.1% | 29.8% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.4%
Flat Growth
4Q Net Income CAGR
-8.1%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Next earnings:Feb 4, 2026
EPS:$0.90
|Revenue:$11.95B
Reports
All Years
Form 20-F - FY 2024
Period End: Dec 31, 2024|Filed: Feb 5, 2025|Revenue: $42.12B+25.0%|EPS: $3.29+21.4%BeatForm 20-F - FY 2023
Period End: Dec 31, 2023|Filed: Jan 31, 2024|Revenue: $33.71B+31.3%|EPS: $2.71+52.3%BeatForm 20-F - FY 2022
Period End: Dec 31, 2022|Filed: Feb 1, 2023|Revenue: $25.00B+25.7%|EPS: $1.73+17.9%BeatForm 20-F - FY 2021
Period End: Dec 31, 2021|Filed: Feb 2, 2022|Revenue: $22.38B+10.9%|EPS: $1.65+15.2%MeetForm 20-F - FY 2020
Period End: Dec 31, 2020|Filed: Feb 3, 2021|Revenue: $19.42B+4.0%|EPS: $1.38+9.9%Meet