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NVO FINANCIAL STATEMENTS

Novo Nordisk A/S — balance sheet, income statement and cash flow trends

NVONovo Nordisk A/S

🇺🇸 USA · US · Healthcare · Drug Manufacturers - General

Value itDuel
PriceFinancialsPeers

Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
0100 B200 B300 B202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue327.8 B DKKGross Profit268.3 B DKK · 82%Operating Income148.5 B DKK · 45%Pre-tax Income155.7 B DKK · 47%Net Income122 B DKK · 37%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue327.8 B DKK+8.1%
Gross Profit268.3 B DKK+5.0%
Operating Income148.5 B DKK+9.8%
EBITDA185.8 B DKK+12.6%
Net Income122 B DKK+16.6%

Peer Comparison· Drug Manufacturers - General

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
NVO8.1%81.8%56.7%37.2%
Industry median3.3%70.7%28.4%15.0%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
0200 B400 B202120222023202420252026

Capital Structure

Q1 2026
Total Assets559.2 B
  • Equity203.1 B DKK36%
  • Current Liabilities225.2 B DKK40%
  • Long-term Liabilities131 B DKK23%

Key Figures

YoY change
Total Assets559.2 B DKK+14.3%
Total Liabilities356.2 B DKK+1.6%
Total Equity203.1 B DKK+46.6%
Cash & ST Investments21.6 B DKK-48.0%
Total Debt146.4 B DKK+23.3%
Net Debt125.3 B DKK+57.0%

Peer Comparison· Drug Manufacturers - General

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
NVO0.7972.1%0.6736.3%
Industry median1.2594.3%1.3528.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
050 B100 B202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
050 B100 B118.6 B DKKOperating-84.2 B DKKInvesting-51.3 B DKKFinancing-16.9 B DKKNet Change

Key Figures

YoY change
Operating Cash Flow118.6 B DKK-9.6%
Capital Expenditures87.6 B DKK+53.9%
Free Cash Flow31 B DKK-58.3%
Dividends Paid-51.5 B DKK-154.3%

Peer Comparison· Drug Manufacturers - General

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
NVO36.2%9.5%26.7%97.2%
Industry median23.7%18.5%5.3%137.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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