Novo Nordisk

NVO · NYSE · USD

$37.55−0.95%−$0.36

Close · October 1, 2026

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 id:6; per-share values in id:6; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	309,064	290,403	232,261	176,954	140,800	126,946	122,021	111,831	111,696	111,780
Cost of revenue	54,377	43,560	35,319	28,424	23,658	20,932	20,088	17,617	17,632	17,183
Gross profit	254,687	246,843	196,942	148,530	117,142	106,014	101,933	94,214	94,064	94,597
Selling, general and administrative	67,865	67,368	61,594	50,683	41,058	36,886	35,830	33,313	32,124	32,339
Research and development	46,159	40,072	31,075	23,263	17,199	15,462	14,220	14,805	14,014	14,563
Operating income	140,618	138,901	104,698	75,618	59,217	54,126	52,483	47,248	48,967	48,432
EBIT	140,618	138,901	104,698	75,618	59,217	54,126	52,483	47,248	48,967	48,432
EBITDA	153,295	145,691	110,736	81,119	63,770	58,565	56,310	51,173	52,149	51,625
Interest expense	4,207	1,640	542	378	289	390	220	85.0	90.0	65.0
Pre-tax income	130,540	127,191	104,674	69,062	59,080	53,130	48,553	47,615	48,680	47,798
Income tax	28,106	26,203	20,991	13,537	11,323	10,992	9,602	8,987	10,550	9,873
Net income	102,434	100,988	83,683	55,525	47,757	42,138	38,951	38,628	38,130	37,925
Net income to common shareholders	102,434	100,988	83,683	55,525	47,757	42,138	38,951	38,628	38,130	37,925
Basic EPS	23.06	22.67	18.67	12.26	10.40	9.03	8.20	7.98	7.71	7.50
Diluted EPS	23.03	22.63	18.62	12.22	10.37	9.01	8.19	7.97	7.70	7.48
Average shares (basic)	4,443	4,454	4,483	4,531	4,593	4,668	4,749	4,839	4,946	5,060
Average shares (diluted)	4,448	4,463	4,495	4,545	4,606	4,680	4,757	4,849	4,956	5,069
Dividend per share	11.70	11.40	9.40	6.20	5.20	4.55	4.18	4.08	3.93	3.80