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Novo Nordisk
(NYSE:NVO)
Novo Nordisk (NVO) vs. SPDR S&P 500 ETF (SPY)
Novo Nordisk Business Overview & Revenue Model
Novo Nordisk Key Performance Indicators (KPIs)
Details revenue from various business segments, providing insight into Novo Nordisk's diverse income streams and strategic focus areas.
The FlyNovo Nordisk Earnings Call Summary
Novo Nordisk Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 315.60B | 290.40B | 232.26B | 176.95B | 140.80B | 126.95B |
| Gross Profit | 258.94B | 245.88B | 196.50B | 148.51B | 117.14B | 106.01B |
| EBITDA | 163.70B | 137.38B | 114.63B | 76.80B | 65.39B | 59.27B |
| Net Income | 103.77B | 100.99B | 83.68B | 55.52B | 47.76B | 42.14B |
Balance Sheet | ||||||
| Total Assets | 512.29B | 465.80B | 314.49B | 241.26B | 194.51B | 23.82B |
| Cash, Cash Equivalents and Short-Term Investments | 32.58B | 26.31B | 30.23B | 23.57B | 17.48B | 2.10B |
| Total Debt | 101.21B | 102.79B | 27.01B | 25.78B | 26.64B | 1.70B |
| Total Liabilities | 342.39B | 322.31B | 207.93B | 157.77B | 123.76B | 13.41B |
| Stockholders Equity | 169.90B | 143.49B | 106.56B | 83.49B | 70.75B | 10.41B |
Cash Flow | ||||||
| Free Cash Flow | 62.74B | 69.66B | 70.01B | 64.13B | 47.62B | 29.87B |
| Operating Cash Flow | 123.78B | 120.97B | 108.91B | 78.89B | 55.00B | 51.95B |
| Investing Cash Flow | -127.56B | -128.90B | -43.89B | -24.92B | -31.61B | -22.44B |
| Financing Cash Flow | -21.04B | 8.73B | -63.16B | -51.80B | -25.49B | -32.24B |
Novo Nordisk Technical Analysis
Novo Nordisk Risk Analysis
Novo Nordisk Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $110.32B | 18.30 | 33.84% | 4.84% | 1.26% | ― | |
78 Outperform | $154.20B | 19.25 | 40.53% | 2.54% | 2.76% | 6407.19% | |
78 Outperform | $497.21B | 19.92 | 33.62% | 2.48% | 5.08% | 71.07% | |
75 Outperform | $117.50B | 11.98 | 8.39% | 4.59% | -9.32% | 120.62% | |
74 Outperform | $143.22B | 14.68 | 10.59% | 6.65% | 4.44% | 128.96% | |
73 Outperform | $216.93B | 13.99 | 68.30% | 3.84% | 18.71% | 11.24% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
Novo Nordisk Corporate Events
Novo Nordisk announced positive results from a phase 2 clinical trial of amycretin, a new treatment for type 2 diabetes, showing significant weight loss and HbA1c reduction. The trial demonstrated amycretin’s efficacy and safety, with plans for a phase 3 development program in 2026, reinforcing Novo Nordisk’s commitment to diabetes innovation and potentially enhancing its market position.
On November 24, 2025, Novo Nordisk announced the results of its evoke and evoke+ phase 3 trials, which aimed to evaluate the efficacy of semaglutide in slowing Alzheimer’s disease progression. The trials, involving 3,808 adults, did not show a statistically significant reduction in disease progression compared to placebo. Despite improvements in Alzheimer’s-related biomarkers, semaglutide did not delay disease progression, leading to the discontinuation of the trials’ extension period. Novo Nordisk will present these findings at upcoming conferences, highlighting the continued need for effective Alzheimer’s treatments.
On November 17, 2025, Novo Nordisk announced transactions involving its shares by board members, executives, and associated persons, in compliance with market abuse regulations. Stephan Engels, a board member, purchased 6,450 shares at a price of DKK 312.50 per share, totaling DKK 2,015,625. This transaction, conducted on Nasdaq Copenhagen, highlights the ongoing engagement of company insiders with Novo Nordisk’s stock, potentially signaling confidence in the company’s future performance.
On November 14, 2025, Novo Nordisk A/S held an Extraordinary General Meeting to elect new members to its Board of Directors. The meeting resulted in significant changes, including the election of Lars Rebien Sørensen as chair and Cees de Jong as vice chair, along with new board members Britt Meelby Jensen and Stephan Engels. These changes are aimed at supporting the company’s transformation plans to regain competitive leadership and ensure shareholder interests are addressed. The newly appointed board members will serve until the next Annual General Meeting in March 2026.
On November 13, 2025, Novo Nordisk announced that Mikael Dolsten, previously the Head of R&D at Pfizer, will not seek election to its Board of Directors due to personal circumstances. The Novo Nordisk Foundation and Novo Holdings A/S have decided not to propose a replacement candidate for Dolsten at the extraordinary general meeting on November 14, 2025. Instead, they plan for the Board to identify and nominate additional candidates at the Annual General Meeting in March 2026. This decision reflects the company’s strategic approach to board composition and its impact on future governance.
On November 11, 2025, Novo Nordisk announced transactions involving its shares by board members, executives, and associated persons, as per market abuse regulations. Notably, David Moore, Executive Vice President of US Operations, acquired 18,634 shares at no cost as part of a recruitment package and sold 8,160 shares at a price of DKK 297.95 each, totaling DKK 2,431,301.74. These transactions, reported on November 10, 2025, reflect internal movements within the company’s leadership and may influence stakeholder perceptions of executive confidence in the company’s future.
On November 6, 2025, Novo Nordisk announced an agreement with the U.S. Administration to reduce the prices of its semaglutide medicines, including Wegovy® and Ozempic®, starting in 2026. This initiative aims to expand access to these obesity treatments through U.S. Medicare Part D and Medicaid, as well as direct-to-patient cash channels. The agreement includes a pilot program for Medicare Part D coverage, expected to cover a majority of beneficiaries, and a three-year tariff exemption for Novo Nordisk. The company anticipates a low single-digit negative impact on its global sales growth in 2026 due to these changes.
Novo Nordisk reported a 12% increase in sales in Danish kroner and a 15% rise at constant exchange rates (CER) for the first nine months of 2025. Despite a 5% increase in operating profit, the company faced one-off restructuring costs of approximately DKK 9 billion, which impacted its profit growth. Novo Nordisk’s diabetes and obesity care segments showed significant growth, with obesity care sales rising by 37% in Danish kroner. The company also made strategic advancements in its R&D pipeline, including FDA approval for Wegovy® for MASH treatment and the acquisition of Akero Therapeutics. However, the company narrowed its full-year 2025 sales and operating profit growth expectations due to lower growth forecasts for its GLP-1 treatments. Additionally, Novo Nordisk announced an extraordinary general meeting to elect new board members on November 14, 2025.
On October 30, 2025, Novo Nordisk announced its proposal to acquire Metsera, Inc., aiming to enhance its portfolio with Metsera’s incretin and non-incretin analogue peptide programs. This acquisition aligns with Novo Nordisk’s strategy to develop innovative medicines for obesity and diabetes. The proposal includes acquiring all outstanding shares of Metsera at $56.50 per share in cash, with contingent value rights up to $21.25 per share, subject to Metsera’s board review.
On October 21, 2025, Novo Nordisk announced plans to hold an Extraordinary General Meeting on November 14, 2025, to elect new members to its Board of Directors. This decision follows a disagreement with the Novo Nordisk Foundation over the board’s composition, with the Foundation seeking a more extensive reconfiguration. The current Chair, Helge Lund, and several independent board members will not stand for re-election, while some members, including Kasim Kutay and employee-elected board members, will remain. This move aims to clarify the future governance of the company, considering the Foundation’s significant voting influence.
On October 21, 2025, Novo Nordisk announced an Extraordinary General Meeting to be held on November 14, 2025, to elect new members to its Board of Directors. The meeting will be conducted fully electronically, allowing shareholders to participate virtually or via live webcast. The agenda includes the election of a new Chair, Vice Chair, and other board members, with several current members not standing for re-election. This move is part of the company’s ongoing governance strategy, potentially impacting its leadership dynamics and stakeholder engagement.
On October 9, 2025, Novo Nordisk announced its acquisition of Akero Therapeutics, a clinical-stage company specializing in treatments for serious metabolic diseases, for approximately $4.7 billion. This acquisition aims to enhance Novo Nordisk’s portfolio in treating metabolic dysfunction-associated steatohepatitis (MASH), a prevalent obesity-related comorbidity. The acquisition aligns with Novo Nordisk’s strategy to expand its offerings in diabetes and obesity-related conditions, potentially positioning efruxifermin as a cornerstone therapy for MASH. The transaction is expected to close around the turn of the year, with financial implications including a negative impact on Novo Nordisk’s 2025 free cash flow outlook and increased R&D costs in 2026.