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Earnings transcript
Read the complete earnings call transcript.
NVO
Novo Nordisk A/S
$36.98
0.5
(1.36%)
| Exchange: | NYSE |
| Market Cap: | 164.318B |
| Shares Outstanding: | 5.022B |
About The Company
| Sector: | Healthcare | |||||
| Industry: | Drug Manufacturers – General | |||||
| CEO: | Maziar Mike Doustdar | |||||
| Full Time Employees: | 77406 | |||||
| Address: |
| |||||
| Website: | https://www.novonordisk.com |
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease. The Diabetes and Obesity 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 insulin pens, growth hormone pens, and injection needles. In addition, it offers smart solutions for diabetes treatment, such as smart insulin pens and Dose Check, an insulin dose guidance application. The company has a collaboration agreement with UNICEF to tackle childhood obesity; and with Valo Health, Inc. to discover and develop novel drug programmes for cardiometabolic space. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 232,261,000 | 290,403,000 | 309,064,000 |
| Gross Profit | 196,496,000 | 245,881,000 | 250,276,000 |
| EBITDA | 114,629,000 | 147,938,000 | 156,729,000 |
| Operating Income | 102,574,000 | 128,339,000 | 127,658,000 |
| Net Income | 83,683,000 | 100,988,000 | 102,434,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 314,486,000 | 465,795,000 | 542,902,000 |
| Total Liabilities | 207,925,000 | 322,309,000 | 348,855,000 |
| Total Stockholders Equity | 106,561,000 | 143,486,000 | 194,047,000 |
| Total Debt | 27,006,000 | 102,787,000 | 130,958,000 |
| Cash and Cash Equivalents | 14,392,000 | 15,655,000 | 26,464,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 108,908,000 | 120,968,000 | 114,528,195 |
| Capital Expenditure | -38,896,000 | -51,309,000 | -57,830,478 |
| Free Cash Flow | 70,012,000 | 69,659,000 | 56,697,716 |
| Net Income | 83,683,000 | 100,988,000 | 102,434,000 |
| Net Change in Cash | 1,739,000 | 1,263,000 | 12,638,265 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 344,566,390.548 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 408,657,062.036 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 371,155,133.790 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 199,045,234.191 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 236,068,411.918 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 214,404,720.115 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 115,329,084.739 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 143,877,127.125 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 127,172,555.514 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 89,769,550.338 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 106,467,031.341 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 96,696,690.043 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 28.590 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 32.350 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 25.930 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Novo Nordisk reported a 15% sales increase and a 10% rise in net income for Q3 2025, as highlighted in the earnings call transcript. Strong revenue growth, supported by historical income statement data, reflects consistent operational efficiency and market demand for its products.
- Innovation Leadership: The company is focusing on pipeline advancements in diabetes and obesity treatments, as noted in the Q3 2025 earnings call summary. This aligns with high gross profit margins (from key metrics) and significant investments in R&D, positioning NVO as a leader in therapeutic areas with growing demand.
- Solid Cash Flow Position: Free cash flow yield (from key metrics) and net cash provided by operating activities (from cash flow statements) indicate strong liquidity. This financial health supports ongoing capital expenditures and potential dividend growth, as evidenced by historical dividend payments.
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Intrinsic Value Calculator
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Common questions about NVO valuation
Is Novo Nordisk A/S (NVO) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Novo Nordisk A/S (NVO) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NVO a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NVO trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NVO’s P/E ratio?
You can see NVO’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NVO?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NVO a good long-term investment?
Whether NVO fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NVO
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Daily snapshot
1.36
Trading Metrics:
| Open: | 35.84 | Previous Close: | 36.48 | |
| Day Low: | 35.63 | Day High: | 36.98 | |
| Year Low: | 35.12 | Year High: | 81.44 | |
| Price Avg 50: | 44.64 | Price Avg 200: | 53.29 | |
| Volume: | 13.745M | Average Volume: | 22.684M |
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Login — it's freeNVO full analysis
Welcome to MARKETSNAP’s SWOT analysis for Novo Nordisk, a powerhouse in the pharmaceutical space that many of you are already familiar with. Today, we’re diving deep into what makes this company tick, breaking down its strengths, weaknesses, opportunities, and threats with a focus on what matters for long-term retail investors like you. We’ll also touch on recent developments and performance trends to keep things fresh and relevant. So, let’s get started and unpack what’s driving Novo Nordisk and where it…
