Novo Nordisk revenue and financials

NOVO.B · Nasdaq Copenhagen · DKK

kr 250.70+2.10%+kr 5.15

Close · October 7, 2026

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%.

Annual revenue · 2025: kr 309.06B

kr 122.02B2019
kr 126.95B2020
kr 140.8B2021
kr 176.95B2022
kr 232.26B2023
kr 290.4B2024
kr 309.06B2025

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.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019
Total revenue	309,064	290,403	232,261	176,954	140,800	126,946	122,021
Cost of revenue	58,788	44,522	35,765	28,448	23,658	20,932	20,088
Gross profit	250,276	245,881	196,496	148,506	117,142	106,014	101,933
Selling, general and administrative	67,865	67,368	61,594	50,683	41,058	—	—
Research and development	52,039	48,062	32,443	24,047	17,772	15,462	14,220
Operating income	127,658	128,339	102,574	74,809	58,644	54,126	52,483
EBIT	140,618	138,901	104,698	75,618	59,217	—	—
EBITDA	153,295	145,691	110,736	81,119	63,770	—	—
Interest expense	6,778	7,346	845	5,986	2,451	2,624	3,995
Pre-tax income	130,540	127,191	104,674	69,062	59,080	—	—
Income tax	28,106	26,203	20,991	13,537	11,323	10,992	9,602
Net income	102,434	100,988	83,683	55,525	47,757	42,138	38,951
Net income to common shareholders	102,434	100,988	83,683	55,525	47,757	—	—
Basic EPS	23.06	22.67	18.67	12.26	10.40	18.05	16.41
Diluted EPS	23.03	22.63	18.62	12.22	10.37	18.01	16.38
Average shares (basic)	4,443	4,454	4,483	4,531	4,593	—	—
Average shares (diluted)	4,448	4,463	4,495	4,545	4,606	—	—
Dividend per share	11.70	11.40	9.40	6.20	5.20	—	—