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.

Balance sheet · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total assets	594,941	559,221	542,902	512,288	482,153	489,162	465,630	397,441	369,383	298,921	314,486	300,101
Current assets	208,696	177,317	172,453	181,883	162,705	174,395	161,788	195,160	177,500	116,421	139,646	142,199
Cash and equivalents	44,482	21,127	26,464	32,084	18,435	38,938	15,655	57,018	52,821	6,324	14,392	30,144
Short-term investments	500	499	498	499	499	2,612	10,653	17,863	9,833	2,979	15,838	17,451
Receivables	108,512	100,268	89,186	92,373	85,843	86,366	88,305	79,629	76,130	71,750	75,261	61,964
Inventory	51,352	51,352	49,623	47,504	45,652	42,853	40,849	37,944	36,356	33,600	31,811	29,534
Net property, plant and equipment	231,758	219,974	208,378	193,244	180,758	172,376	161,680	119,832	109,980	98,230	90,961	81,461
Goodwill	19,890	19,877	19,845	—	—	—	20,017	—	—	—	4,464	—
Other intangible assets	102,167	110,033	110,208	106,587	107,866	109,379	90,804	54,488	55,501	59,640	55,942	55,726
Long-term investments	2,330	2,241	2,507	2,725	2,638	2,700	2,677	2,047	1,659	1,651	1,663	1,471
Current liabilities	239,083	225,158	215,661	234,358	207,522	236,117	217,614	208,358	187,909	165,606	169,655	172,552
Accounts payable	14,591	14,803	19,758	23,904	28,206	19,576	17,140	24,079	29,759	13,006	25,606	20,106
Long-term debt	113,172	110,335	111,705	89,180	87,305	96,310	84,246	51,452	51,608	16,764	15,976	19,924
Total debt	140,127	146,382	130,958	101,214	99,268	—	—	—	—	—	—	—
Total liabilities	373,664	356,156	348,855	342,392	314,087	350,622	322,144	276,919	256,861	200,010	207,925	207,110
Total equity (incl. minority)	221,277	203,065	194,047	169,896	168,066	138,540	143,486	120,522	112,522	98,911	106,561	92,991
Retained earnings	224,164	206,420	195,298	168,529	164,453	137,319	144,448	121,670	112,150	99,050	104,839	91,735