Novo Nordisk A S
NONOF- Exchange
- OTC
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0000353278
No open-market purchases or sales by Novo Nordisk A S insiders were filed in the last 90 days; 3 institutions reported holding it in 13F filings for Q2 2026, worth $5.36M in total; no superinvestor holds it.
Other share classesNVO
- Currency
- DKK
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 11:23 AM ET
Amounts are in DKK, the currency Novo Nordisk A S reports in. Lines marked ≈ US$ convert key figures to US dollars.
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Revenue | DKK 309.1B≈ US$46.8B | DKK 290.4B≈ US$42.1B | DKK 232.3B≈ US$33.7B | DKK 177.0B≈ US$25.1B | DKK 140.8B≈ US$22.4B |
| Cost of revenue | DKK 58.8B | DKK 44.5B | DKK 35.8B | DKK 28.4B | DKK 23.7B |
| Gross profit | DKK 250.3B | DKK 245.9B | DKK 196.5B | DKK 148.5B | DKK 117.1B |
| Research and development | DKK 52.0B | DKK 48.1B | DKK 32.4B | DKK 24.0B | DKK 17.8B |
| Selling, general and administrative | DKK 5.97B | DKK 5.28B | DKK 4.86B | DKK 4.47B | DKK 4.05B |
| Operating income | DKK 127.7B | DKK 128.3B | DKK 102.6B | DKK 74.8B | DKK 58.6B |
| Interest expense | DKK 6.78B | DKK 7.35B | DKK 845.0M | DKK 5.99B | DKK 2.45B |
| Income tax | DKK 28.1B | DKK 26.2B | DKK 21.0B | DKK 13.5B | DKK 11.3B |
| Net income | DKK 102.4B≈ US$15.5B | DKK 101.0B≈ US$14.6B | DKK 83.7B≈ US$12.1B | DKK 55.5B≈ US$7.86B | DKK 47.8B≈ US$7.60B |
| EPS, basic | DKK 23.06 | DKK 22.67 | DKK 18.67 | DKK 24.51 | DKK 20.79 |
| EPS, diluted | DKK 23.03 | DKK 22.63 | DKK 18.62 | DKK 24.44 | DKK 20.74 |
| Weighted shares, basic | 4.44B | 4.45B | 4.48B | 2.27B | 2.30B |
| Weighted shares, diluted | 4.45B | 4.46B | 4.49B | 2.27B | 2.30B |
| Margins and growth | |||||
| Gross margin | 81.0% | 84.7% | 84.6% | 83.9% | 83.2% |
| Operating margin | 41.3% | 44.2% | 44.2% | 42.3% | 41.7% |
| Net margin | 33.1% | 34.8% | 36.0% | 31.4% | 33.9% |
| Revenue growth, year over year | +6.4% | +25.0% | +31.3% | +25.7% | – |
| Net income growth, year over year | +1.4% | +20.7% | +50.7% | +16.3% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Cash and equivalents | DKK 26.5B | DKK 15.7B | DKK 14.4B | DKK 12.7B | DKK 10.7B |
| Short-term investments | DKK 498.0M | DKK 10.7B | – | – | – |
| Accounts receivable | DKK 70.9B | DKK 71.9B | DKK 64.8B | DKK 50.6B | DKK 40.6B |
| Inventory | DKK 49.6B | DKK 40.8B | DKK 31.8B | DKK 24.4B | DKK 19.6B |
| Total current assets | DKK 172.5B | DKK 160.9B | DKK 139.6B | DKK 108.2B | DKK 85.6B |
| Property, plant and equipment | – | – | DKK 91.0B | DKK 66.7B | DKK 55.4B |
| Goodwill | DKK 19.8B | DKK 15.3B | – | – | – |
| Intangible assets | DKK 110.2B | DKK 111.1B | DKK 60.4B | DKK 51.4B | DKK 43.2B |
| Total assets | DKK 542.9B≈ US$85.3B | DKK 465.8B≈ US$64.7B | DKK 314.5B≈ US$46.7B | DKK 241.3B≈ US$34.7B | DKK 194.5B≈ US$29.6B |
| Accounts payable | DKK 19.8B | DKK 28.8B | DKK 25.6B | DKK 15.6B | DKK 8.87B |
| Short-term debt | DKK 12.0B | DKK 13.1B | DKK 6.48B | DKK 1.47B | DKK 13.7B |
| Total current liabilities | DKK 215.7B | DKK 217.5B | DKK 169.7B | DKK 120.9B | DKK 99.5B |
| Long-term debt | DKK 118.9B | DKK 89.7B | DKK 20.5B | DKK 24.3B | DKK 13.0B |
| Total liabilities | DKK 348.9B | DKK 322.3B | DKK 207.9B | DKK 157.8B | DKK 123.8B |
| Shareholders' equity | DKK 194.0B | DKK 143.5B | DKK 106.6B | DKK 83.5B | DKK 70.7B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Operating cash flow | DKK 119.1B≈ US$18.0B | DKK 121.0B≈ US$17.5B | DKK 108.9B≈ US$15.8B | DKK 78.9B≈ US$11.2B | DKK 55.0B≈ US$8.75B |
| Capital expenditures | DKK 60.1B | DKK 47.2B | DKK 25.8B | DKK 12.1B | DKK 6.33B |
| Free cash flow | DKK 59.0B≈ US$8.93B | DKK 73.8B≈ US$10.7B | DKK 83.1B≈ US$12.1B | DKK 66.7B≈ US$9.45B | DKK 48.7B≈ US$7.74B |
| Depreciation and amortization | DKK 14.7B | DKK 8.54B | – | – | – |
| Stock-based compensation | DKK 1.44B | DKK 2.29B | DKK 2.15B | DKK 1.54B | DKK 1.04B |
| Dividends paid | DKK 51.8B | DKK 44.1B | DKK 31.8B | DKK 25.3B | DKK 21.5B |
| Share buybacks | DKK 1.39B | DKK 20.2B | DKK 29.9B | DKK 24.1B | DKK 19.4B |
| Investing cash flow | DKK -79.2B | DKK -128.9B | DKK -43.9B | DKK -24.9B | DKK -31.6B |
| Financing cash flow | DKK -28.4B | DKK 8.73B | DKK -63.2B | DKK -51.8B | DKK -25.5B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.5% | 0.8% | 0.9% | 0.9% | 0.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Novo Nordisk A S reports no single share count on its 10-K and 10-Q covers. Companies with several share classes report one count per class, which this data doesn't include.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- ≈ US$ figures convert DKK at FRED H.10 exchange rates (Federal Reserve): the average rate over the period for income and cash flow, and the rate on the period-end date, or the last business day before it, for the balance sheet.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits. Stock splits since Dec 31, 2020, from 13F share counts: 2-for-1 in Q3 2023.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.