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Novo Nordisk A/S

NVO

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Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes 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 NovoPen 6 and NovoPen Echo Plus, smart insulin pens; Dose Check, an insulin dose guidance application; growth hormone pens and injection needles; and Wegovy pill an oral glucagon-like peptide-1 (GLP-1) receptor agonist therapy for weight management. The company has a collaboration with Anthropic accelerate the development of new medicines and advance AI-driven software development. It operates in Europe, Canada, the United States, Japan, Korea, Oceania, Southeast Asia, Mainland China, Hong Kong and Taiwan, Latin America, the Middle East, and Africa. It has a strategic collaboration with Orbis Medicines to discover and develop oral macrocycle therapeutics for cardiometabolic diseases. The company was formerly known as Novo Industri A/S and changed its name to Novo Nordisk A/S in April 1989. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark.

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market CapDKK 1.24T
EPSDKK 26.19
P/E10.68
P/FCF25.96
EV/EBITDA7.95
FCF Yield3.9%
Div. Yield4.19%
Net Debt/FCF2.2x
Novo Nordisk A/S intrinsic value
52-Week Range
$35.29$63.98

Profitability & Returns

Revenue (TTM)

DKK 329.43B

▲ +6.4% YoY

Net Income (TTM)

DKK 116.44B

▲ +1.4% YoY

Op. Margin

43.13%

▼ -2.9pp YoY

ROIC

35.07%

▼ -18.6pp YoY

Cash Flow & Balance Sheet

FCF (TTM)

DKK 47.79B

▼ -58.4% YoY

Op. Cash Flow (TTM)

DKK 131.88B

▼ -10.0% YoY

Net Debt

DKK 104.00B

Cash & Equiv.

DKK 26.96B

3Y CAGR: +20.4%

3Y CAGR: -23.3%

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Held by ETFs

NVO is in 31 US ETFs. The largest of them, with NVO's weight in each:

Novo Nordisk A/S (NVO) in four numbers

Fair value (earnings)
kr 942.44
Price kr 279.73 is 70% below it.
Intrinsic Value
Quality score
64/100
Best check: revenue growth, 16.8%. Weakest: net debt, $104.00B.
Quality
Dividend (TTM)
DKK 11.70
4.19% yield, raised at least 4 years in a row.
Dividends
P/E
10.68
Price to free cash flow 25.96.
Financials

Questions about Novo Nordisk A/S

Is Novo Nordisk A/S (NVO) overvalued?

At kr 279.73, Novo Nordisk A/S's price is 70% below the kr 942.44 a share fair value that Intrinsiqq's calculator gets from its earnings. It trades at 10.68 times earnings and 25.96 times free cash flow. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Novo Nordisk A/S's fair value?

Intrinsiqq's calculator puts Novo Nordisk A/S's fair value at kr 942.44 a share. It grows earnings per share 20% a year for 5 years, applies an exit P/E of 21.4, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of kr 706.83. Every input can be changed on the Intrinsic Value tab.

Is Novo Nordisk A/S a high-quality business?

Novo Nordisk A/S scores 64 out of 100 on Intrinsiqq's quality score, which makes it a solid business on these measures. The score blends 8 checks computed from company filings. Its best check is revenue growth at 16.8%, and its weakest is net debt at $104.00B. The Quality tab shows every check against its target.

Does Novo Nordisk A/S (NVO) pay a dividend, and how much?

Yes. Novo Nordisk A/S (NVO) pays a dividend: DKK 11.70 per share over the last twelve months, a dividend yield of 4.19% at the latest close. It has raised its dividend per share for at least 4 years in a row, growing at 22.5% a year over the last 4 years. The payout takes about 44.7% of earnings.

Source: company filings. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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