Novo Nordisk revenue and financials

NVO · NYSE · USD

Secondary listing. The primary listing is Novo Nordisk · Nasdaq Copenhagen (DKK)

$37.53−0.03%−$0.01

Close · October 6, 2026

In the fiscal year ended December 2025, Novo Nordisk reported revenue of 309.06B id:6 (+6.43% year over year). Net income was 102.43B id:6, a net margin of 33.1%.

Annual revenue · 2025: 309.06B id:6

111.78B id:62016
111.7B id:62017
111.83B id:62018
122.02B id:62019
126.95B id:62020
140.8B id:62021
176.95B id:62022
232.26B id:62023
290.4B id:62024
309.06B id:62025

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 · 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 revenue	78,488	96,823	79,144	74,976	76,857	78,087	85,683	71,311	68,060	65,349	65,863	58,731
Cost of revenue	17,100	13,598	14,170	14,471	12,846	12,890	12,062	11,308	10,274	9,916	9,568	9,713
Gross profit	61,388	83,225	64,974	60,505	64,011	65,197	73,621	60,003	57,786	55,433	56,295	49,018
Selling, general and administrative	16,306	13,217	17,143	15,761	18,849	16,112	20,272	16,592	16,091	14,413	18,622	14,075
Research and development	11,459	10,284	12,671	11,490	11,690	10,308	5,812	9,488	10,466	8,606	9,092	8,128
Operating income	33,389	59,618	35,241	33,254	33,449	38,791	47,299	33,822	31,634	31,846	28,890	26,913
EBIT	33,389	59,618	35,241	33,254	33,449	38,791	47,299	33,822	31,634	31,846	28,890	26,913
EBITDA	36,994	63,131	36,655	36,491	37,193	42,550	47,875	35,842	33,671	34,003	30,346	29,438
Interest expense	1,500	3,499	4,966	—	4,958	5,183	400	—	1,562	1,998	1,630	2,168
Pre-tax income	26,875	62,172	34,185	25,517	33,805	37,033	35,557	34,384	25,332	31,918	27,620	28,063
Income tax	5,886	13,615	7,294	5,511	7,302	7,999	7,327	7,083	5,282	6,511	5,657	5,585
Net income	20,989	48,557	26,891	20,006	26,503	29,034	28,230	27,301	20,050	25,407	21,963	22,478
Net income to common shareholders	20,989	48,557	26,891	20,006	26,503	29,034	28,230	27,301	20,050	25,407	21,963	22,478
Basic EPS	4.74	10.93	6.05	4.50	5.96	6.54	6.35	6.13	4.50	5.70	4.92	5.02
Diluted EPS	4.73	10.91	6.04	4.50	5.96	6.53	6.34	6.12	4.49	5.68	4.91	5.00
Average shares (basic)	4,428	4,443	4,444	4,444	4,447	4,439	4,446	4,452	4,458	4,460	4,465	4,477
Average shares (diluted)	4,436	4,449	4,449	4,447	4,447	4,446	4,456	4,461	4,465	4,471	4,477	4,489
Dividend per share	3.75	—	7.95	0.00	3.75	—	7.90	0.00	3.50	—	6.40	—