For fiscal 2025 (ended Dec 31, 2025), Novo Nordisk A/S reported DKK 309.06B of revenue and DKK 102.43B of net income. Figures are in DKK, the currency of its SEC filings.
NVO revenue was DKK 309.06B for fiscal 2025 (ended Dec 31, 2025), up 6.4% from fiscal 2024. Compound annual growth was +19.5% over 5 years. It rose in each of the last 6 fiscal years. Fiscal 2025 is the highest of the 7 fiscal years on file.
NVO net income was DKK 102.43B for fiscal 2025 (ended Dec 31, 2025), up 1.4% from fiscal 2024. Compound annual growth was +19.4% over 5 years. It rose in each of the last 6 fiscal years. Fiscal 2025 is the highest of the 7 fiscal years on file.
NVO diluted EPS was DKK 23.03 for fiscal 2025 (ended Dec 31, 2025), up 1.8% from fiscal 2024. Compound annual growth was +20.7% over 5 years.
NVO free cash flow was DKK 58.96B for fiscal 2025 (ended Dec 31, 2025), down 20.1% from fiscal 2024. Compound annual growth was +5.0% over 5 years. It rose in 4 of the last 6 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | DKK 309.06B | DKK 290.40B | DKK 232.26B | DKK 176.95B | DKK 140.80B | DKK 126.95B | DKK 122.02B |
| Cost of revenue | DKK 58.79B | DKK 44.52B | DKK 35.77B | DKK 28.45B | DKK 23.66B | DKK 20.93B | DKK 20.09B |
| Gross profit | DKK 250.28B | DKK 245.88B | DKK 196.50B | DKK 148.51B | DKK 117.14B | DKK 106.01B | DKK 101.93B |
| Research and development | DKK 52.04B | DKK 48.06B | DKK 32.44B | DKK 24.05B | DKK 17.77B | DKK 15.46B | DKK 14.22B |
| Selling, general and admin | DKK 5.97B | DKK 5.28B | DKK 4.86B | DKK 4.47B | DKK 4.05B | DKK 3.96B | DKK 4.01B |
| Operating income | DKK 127.66B | DKK 128.34B | DKK 102.57B | DKK 74.81B | DKK 58.64B | DKK 54.13B | DKK 52.48B |
| Interest expense | DKK 4.21B | DKK 1.64B | DKK 542.00M | DKK 378.00M | DKK 289.00M | DKK 390.00M | DKK 220.00M |
| Pre-tax income | DKK 130.54B | DKK 127.19B | DKK 104.67B | DKK 69.06B | DKK 59.08B | DKK 53.13B | DKK 48.55B |
| Income tax | DKK 28.11B | DKK 26.20B | DKK 20.99B | DKK 13.54B | DKK 11.32B | DKK 10.99B | DKK 9.60B |
| Net income | DKK 102.43B | DKK 100.99B | DKK 83.68B | DKK 55.52B | DKK 47.76B | DKK 42.14B | DKK 38.95B |
| EPS, basic | DKK 23.06 | DKK 22.67 | DKK 18.67 | DKK 12.26 | DKK 10.40 | DKK 9.03 | DKK 8.21 |
| EPS, diluted | DKK 23.03 | DKK 22.63 | DKK 18.62 | DKK 12.22 | DKK 10.37 | DKK 9.01 | DKK 8.19 |
| Diluted shares | 4.45B | 4.46B | 4.49B | 4.54B | 4.61B | 4.68B | 4.76B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | DKK 26.46B | DKK 15.65B | DKK 14.39B | DKK 12.65B | DKK 10.72B | DKK 12.23B | DKK 15.41B |
| Short-term investments | DKK 498.00M | DKK 10.65B | DKK 15.84B | DKK 10.92B | - | - | - |
| Inventory | DKK 49.62B | DKK 40.85B | DKK 31.81B | DKK 24.39B | DKK 19.62B | DKK 18.54B | - |
| Current assets | DKK 172.45B | DKK 161.79B | DKK 139.65B | DKK 108.19B | DKK 85.59B | DKK 65.81B | - |
| Goodwill | DKK 19.84B | DKK 20.02B | - | - | - | - | - |
| Total assets | DKK 542.90B | DKK 465.63B | DKK 314.49B | DKK 241.26B | DKK 194.51B | DKK 144.92B | - |
| Current liabilities | DKK 215.66B | DKK 217.61B | DKK 169.66B | DKK 120.94B | DKK 99.52B | DKK 70.27B | - |
| Long-term debt | DKK 118.94B | DKK 89.67B | DKK 20.53B | DKK 24.32B | DKK 12.96B | DKK 2.90B | - |
| Total debt | DKK 118.94B | DKK 89.67B | DKK 20.53B | DKK 24.32B | DKK 12.96B | DKK 2.90B | DKK 4.48B |
| Total liabilities | DKK 348.86B | DKK 322.14B | DKK 207.93B | DKK 157.77B | DKK 123.76B | DKK 81.60B | - |
| Shareholders' equity | DKK 194.05B | DKK 143.49B | DKK 106.56B | DKK 83.49B | DKK 70.75B | DKK 63.33B | DKK 57.59B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | DKK 119.10B | DKK 120.97B | DKK 108.91B | DKK 78.89B | DKK 55.00B | DKK 51.95B | DKK 46.78B |
| Capital expenditures | DKK 60.14B | DKK 47.16B | DKK 25.81B | DKK 12.15B | DKK 6.33B | DKK 5.83B | DKK 8.93B |
| Free cash flow | DKK 58.96B | DKK 73.80B | DKK 83.10B | DKK 66.74B | DKK 48.66B | DKK 46.13B | DKK 37.85B |
| Investing cash flow | -DKK 79.16B | -DKK 128.90B | -DKK 43.89B | -DKK 24.92B | -DKK 31.61B | -DKK 22.44B | -DKK 11.51B |
| Financing cash flow | -DKK 28.41B | DKK 8.73B | -DKK 63.16B | -DKK 51.80B | -DKK 25.49B | -DKK 32.24B | -DKK 35.48B |
| Dividends paid | DKK 51.76B | DKK 44.14B | DKK 31.77B | DKK 25.30B | DKK 21.52B | DKK 20.12B | DKK 19.41B |
| Share repurchases | DKK 1.39B | DKK 20.18B | DKK 29.92B | DKK 24.09B | DKK 19.45B | DKK 16.86B | DKK 15.33B |
| Stock-based compensation | DKK 1.44B | DKK 2.29B | DKK 2.15B | DKK 1.54B | DKK 1.04B | DKK 823.00M | DKK 363.00M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 6.4% | 25.0% | 31.3% | 25.7% | 10.9% | 4.0% | - |
| Net income growth, YoY | 1.4% | 20.7% | 50.7% | 16.3% | 13.3% | 8.2% | - |
| EPS growth, YoY | 1.8% | 21.5% | 52.4% | 17.8% | 15.2% | 10.0% | - |
| Gross margin | 81.0% | 84.7% | 84.6% | 83.9% | 83.2% | 83.5% | 83.5% |
| Operating margin | 41.3% | 44.2% | 44.2% | 42.3% | 41.7% | 42.6% | 43.0% |
| Net margin | 33.1% | 34.8% | 36.0% | 31.4% | 33.9% | 33.2% | 31.9% |
| Free cash flow margin | 19.1% | 25.4% | 35.8% | 37.7% | 34.6% | 36.3% | 31.0% |
| Return on equity | 52.8% | 70.4% | 78.5% | 66.5% | 67.5% | 66.5% | 67.6% |
| Return on assets | 18.9% | 21.7% | 26.6% | 23.0% | 24.6% | 29.1% | - |
| Current ratio | 0.80 | 0.74 | 0.82 | 0.89 | 0.86 | 0.94 | - |
| Debt to equity | 0.61 | 0.62 | 0.19 | 0.29 | 0.18 | 0.05 | 0.08 |
Source: XBRL data Novo Nordisk A/S files with the SEC, latest filing dated Feb 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Jan 31, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| PFE | $63.63B | +1.3% | $4.03B | 6.3% | $167.49B |