Novo Nordisk A/S (NVO)

NVO Income Statement

Revenue, expenses, and profitability analysis

NVO Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	51.211B	14.930B	12.418B	11.756B	12.107B	11.315B	11.859B	10.642B	9.800B
Cost of Goods Sold	9.305B	2.097B	2.377B	2.807B	2.024B	1.868B	1.803B	1.687B	1.479B
Gross Profit	41.907B	12.833B	10.041B	8.949B	10.084B	9.447B	10.056B	8.954B	8.321B
Gross Profit Margin	86.0%	86.0%	80.9%	76.1%	83.3%	83.5%	84.8%	84.1%	84.9%
Total Operating Expenses	18.752B	3.640B	5.062B	5.236B	4.814B	3.826B	4.972B	3.907B	4.586B
Research & Development	8.139B	1.586B	2.298B	2.414B	1.842B	1.494B	1.910B	1.416B	2.328B
Selling, General & Administrative	10.547B	2.038B	2.736B	2.804B	2.969B	2.335B	2.807B	2.476B	2.317B
Operating Income (EBIT)	23.155B	9.193B	4.979B	3.713B	5.269B	5.621B	5.084B	5.047B	3.734B
Operating Margin	61.6%	61.6%	40.1%	31.6%	43.5%	49.7%	42.9%	47.4%	38.1%
Income Before Tax (EBT)	24.277B	9.587B	5.364B	4.001B	5.325B	5.366B	4.921B	5.131B	3.648B
Interest Income	2.442B	933.373M	384.248M	287.728M	837.114M	496.283M	541.559M	206.385M	138.230M
Interest Expense	1.321B	539.546M	—	—	781.034M	751.017M	704.871M	122.518M	224.912M
Other Income/Expense	1.122B	393.827M	384.248M	287.728M	56.081M	-254.734M	-163.312M	83.867M	-86.682M
Net Income	19.019B	7.487B	4.219B	3.137B	4.175B	4.207B	3.907B	4.074B	2.887B
Income Tax Expense	5.258B	2.099B	1.144B	864.125M	1.150B	1.159B	1.014B	1.057B	760.555M
Net Profit Margin	50.2%	50.2%	34.0%	26.7%	34.5%	37.2%	32.9%	38.3%	29.5%
EBITDA	28.993B	10.672B	6.236B	5.217B	6.868B	6.672B	6.345B	5.574B	5.146B
EBITDA Margin	71.5%	71.5%	50.2%	44.4%	56.7%	59.0%	53.5%	52.4%	52.5%
Depreciation & Amortization	3.396B	545.251M	872.678M	1.216B	761.342M	554.967M	719.403M	320.844M	1.274B
EPS Basic	4.28	1.69	0.95	0.71	0.94	0.95	0.88	0.91	0.65
EPS Diluted	4.27	1.68	0.95	0.71	0.94	0.95	0.88	0.91	0.65
Shares Outstanding	4.443B	4.443B	4.448B	4.446B	4.447B	4.439B	4.454B	4.454B	4.458B
Diluted Shares Outstanding	4.449B	4.449B	4.448B	4.447B	4.447B	4.446B	4.460B	4.460B	4.465B

NVO Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	48.492B	40.192B	34.379B	25.393B	21.520B	20.794B	18.267B	17.177B
Cost of Goods Sold	9.224B	6.162B	5.294B	4.082B	3.616B	3.429B	3.007B	2.706B
Gross Profit	39.268B	34.030B	29.085B	21.311B	17.904B	17.365B	15.259B	14.471B
Gross Profit Margin	81.0%	84.7%	84.6%	83.9%	83.2%	83.5%	83.5%	84.2%
Total Operating Expenses	19.239B	16.268B	13.902B	10.576B	8.941B	8.499B	7.403B	7.214B
Research & Development	8.165B	6.652B	4.802B	3.451B	2.716B	2.533B	2.129B	2.274B
Selling, General & Administrative	11.027B	9.325B	9.118B	7.273B	6.275B	6.042B	5.364B	5.117B
Operating Income (EBIT)	20.030B	17.762B	15.183B	10.735B	8.963B	8.866B	7.857B	7.257B
Operating Margin	41.3%	44.2%	44.2%	42.3%	41.7%	42.6%	43.0%	42.2%
Income Before Tax (EBT)	20.482B	17.603B	15.494B	9.910B	9.030B	8.703B	7.268B	7.314B
Interest Income	199.106M	254.379M	158.233M	34.297M	35.306M	55.201M	9.730M	7.834M
Interest Expense	660.078M	226.976M	80.227M	54.243M	44.171M	63.882M	32.934M	13.056M
Other Income/Expense	452.186M	-158.883M	310.842M	-824.694M	66.638M	-163.145M	-588.321M	56.371M
Net Income	16.072B	13.977B	12.387B	7.968B	7.299B	6.902B	5.831B	5.933B
Income Tax Expense	4.410B	3.626B	3.107B	1.943B	1.731B	1.800B	1.437B	1.380B
Net Profit Margin	33.1%	34.8%	36.0%	31.4%	33.9%	33.2%	31.9%	34.5%
EBITDA	24.591B	20.475B	16.967B	11.021B	9.995B	9.709B	8.149B	7.930B
EBITDA Margin	50.7%	50.9%	49.4%	43.4%	46.4%	46.7%	44.6%	46.2%
Depreciation & Amortization	3.449B	2.644B	1.393B	1.056B	920.861M	942.341M	847.452M	602.880M
EPS Basic	3.62	3.14	2.76	1.76	1.59	1.48	1.23	1.23
EPS Diluted	3.61	3.13	2.76	1.75	1.58	1.48	1.23	1.22
Shares Outstanding	4.448B	4.454B	4.483B	4.531B	4.593B	4.668B	4.749B	4.839B
Diluted Shares Outstanding	4.448B	4.463B	4.495B	4.545B	4.606B	4.680B	4.757B	4.849B

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Novo Nordisk A/S

Novo Nordisk A/S is a global pharmaceutical firm dedicated to the investigation, creation, manufacturing, and distribution of medicinal products across a vast international footprint. Its market presence extends throughout Europe, the Middle East, Africa, various parts of Asia (including Mainland China, Hong Kong, and Taiwan), and North America. The company's operations are structured into two principal business units: Diabetes and Obesity Care, and Rare Disease. The Diabetes and Obesity Care division delivers therapies for diabetes, obesity, cardiovascular ailments, and other emerging therapeutic areas. Meanwhile, the Rare Disease division concentrates on providing treatments for rare blood disorders, uncommon endocrine conditions, and hormone replacement solutions. In addition to its core pharmaceutical offerings, Novo Nordisk produces specialized medical equipment such as insulin pens, growth hormone pens, and injection needles. It also pioneers smart digital solutions for diabetes management, including advanced insulin pens and the Dose Check application, designed to guide insulin dosage. The company engages in strategic alliances, notably a partnership with UNICEF to combat childhood obesity and a collaboration with Valo Health, Inc. to discover and advance novel drug pipelines in the cardiometabolic space. Founded in 1923, Novo Nordisk A/S is headquartered in Bagsvaerd, Denmark.

Bagsvaerd

77,406 employees

www.novonordisk.com

Healthcare / Drug Manufacturers - General

Sector: Healthcare
Industry: Drug Manufacturers - General
CEO: Maziar Mike Doustdar

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