Novo Nordisk revenue and financials
kr 250.35Change from previous close: +1.95%Absolute change: +kr 4.80
In the fiscal year ended December 2025, Novo Nordisk reported revenue of kr 309.06B (+6.43% year over year). Net income was kr 102.43B, a net margin of 33.1%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +6.43%
- 2025 vs 2024
- Net income growth
- +1.43%
- 2025 vs 2024
- Net margin
- 33.1%
- 2024: 34.8%
Financial data
Amounts in millions of DKK; per-share values in DKK; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 119,102 | 120,968 | 108,908 | 78,887 | 55,000 | 51,951 | 46,782 |
| Depreciation and amortization | 14,666 | 8,545 | 7,289 | 6,553 | 5,452 | — | — |
| Capital expenditure | -60,140 | -47,164 | -25,806 | -12,146 | -6,335 | -5,825 | -8,932 |
| Investing cash flow | -79,158 | -128,895 | -43,892 | -24,918 | -31,605 | — | — |
| Financing cash flow | -28,408 | 8,735 | -63,158 | -51,797 | -25,493 | — | — |
| Dividends paid | -51,763 | -44,140 | -31,767 | -25,303 | -21,517 | -20,121 | -19,409 |
| Share repurchases | -1,388 | -20,181 | -29,924 | -24,086 | -19,447 | -16,855 | -15,334 |
| Debt issued | 103,931 | 79,391 | 0.0 | 11,215 | — | — | — |
| Debt repaid | -79,188 | -6,335 | -1,467 | -13,623 | — | — | — |
| Effect of exchange rates | -727 | 455 | -119 | -238 | 591 | — | — |
| Net change in cash | 10,809 | 1,263 | 1,739 | 1,934 | -1,507 | — | — |
| Free cash flow | 58,962 | 73,804 | 83,102 | 66,741 | 48,665 | — | — |
| Levered free cash flow | 377 | 60,573 | 54,547 | 57,496 | 43,897 | — | — |