Sunday 11 October 2026
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Novo Nordisk A/S
NVO Healthcare Drug Manufacturers General
Novo Nordisk A/S’s revenue for fiscal 2025 (year ended December 2025) was $46.8 billion, up 11.1% from fiscal 2024. In the quarter to June 2026, revenue grew 4.47%, EPS fell 18.7%, free cash flow grew 71.6% and total debt rose 44.4%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five.
38.64
0.46
+1.20%
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A Balance Sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It follows the formula: Assets = Liabilities + Shareholders' Equity. Key components include current and non-current assets, current and long-term liabilities, and equity. The Balance Sheet helps businesses and investors evaluate financial stability, liquidity, and capital structure. It's essential for assessing the company's ability to meet its obligations and fund future operations.
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash and Short Term Investments |
3,154.48 | 3,213.60 | 2,422.24 | 2,347.88 | 1,954.37 | 3,050.74 | 3,724.22 | 4,729.75 | 4,731.93 | 5,093.70 |
Receivables |
3,595.67 | 3,577.40 | 4,111.33 | 4,369.89 | 4,930.59 | 7,445.72 | 8,142.71 | 10,927.90 | 12,675.03 | 13,502.76 |
Inventory |
2,131.07 | 2,335.16 | 2,497.77 | 2,644.39 | 2,839.72 | 3,121.70 | 3,453.34 | 4,618.96 | 5,923.11 | 7,512.92 |
Other current assets |
— | 390.98 | 505.21 | 544.66 | 357.26 | — | — | — | — | — |
Total current assets |
8,881.23 | 9,126.15 | 9,031.35 | 9,362.15 | 10,081.94 | 13,618.16 | 15,320.27 | 20,276.60 | 23,330.06 | 26,109.38 |
Property, Plant, Equpment (Net) |
4,484.60 | 5,354.02 | 6,405.13 | 7,577.60 | 7,701.21 | 8,808.09 | 9,440.61 | 13,207.54 | 23,560.76 | 31,548.43 |
Long-Term Investments |
326.47 | 267.65 | 271.09 | 271.02 | 252.47 | 229.26 | 190.17 | 241.47 | 388.17 | 379.56 |
Long-term receivables |
— | — | — | 126.07 | 103.26 | 42.48 | 29.17 | 207.64 | 582.32 | 887.81 |
Goodwill and Intangible Assets (Total) |
403.30 | 505.07 | 786.67 | 874.67 | 3,164.65 | 6,868.51 | 7,280.51 | 8,770.95 | 16,108.05 | 19,690.02 |
Long Term Assets (Tax, Deferred) |
398.69 | 294.84 | 442.34 | 617.74 | 898.52 | 1,379.72 | 1,901.26 | 2,959.18 | 3,570.92 | 3,580.16 |
Total non-current assets |
5,613.07 | 6,421.57 | 7,905.24 | 9,467.08 | 12,120.11 | 17,328.06 | 18,841.72 | 25,386.77 | 44,210.21 | 56,085.98 |
Total Assets |
14,494.29 | 15,547.72 | 16,936.58 | 18,829.24 | 22,202.05 | 30,946.22 | 34,161.99 | 45,663.37 | 67,540.27 | 82,195.36 |
Accounts Payable |
893.23 | 852.16 | 1,032.99 | 953.06 | 875.84 | 1,411.22 | 2,207.12 | 3,717.99 | 4,182.67 | 2,991.36 |
Current Part of Debt |
34.03 | 257.32 | 78.74 | 220.95 | 1,142.72 | 2,177.13 | 207.59 | 940.61 | 1,901.39 | 1,819.37 |
Current Part of Taxes to Pay |
590.83 | 644.36 | 704.87 | 631.38 | 599.47 | 581.99 | 1,004.09 | 1,033.24 | 1,408.82 | 1,274.18 |
Other current liabilities |
5,530.89 | 5,393.97 | 6,465.07 | 7,036.16 | 8,147.79 | 11,662.67 | 13,706.31 | 18,942.07 | 24,048.69 | 26,566.16 |
Total current liabilities |
7,048.99 | 7,147.81 | 8,281.68 | 8,841.55 | 10,765.82 | 15,833.00 | 17,125.10 | 24,633.91 | 31,541.56 | 32,651.08 |
Long Term Debt (Total) |
— | — | — | 451.05 | 443.82 | 2,062.10 | 3,443.43 | 2,980.67 | 13,002.73 | 18,007.67 |
Pension and Post-Retirement Liabilities |
215.62 | 202.94 | 192.04 | 199.97 | 214.33 | 203.65 | 107.90 | 107.74 | 130.94 | 130.36 |
Long Term Tax Liability (Deferred) |
1.93 | 128.51 | 18.04 | 11.99 | 383.31 | 838.62 | 999.84 | 1,475.52 | 786.77 | 1,000.91 |
Non-current Liabilities (Other) |
500.78 | 501.57 | 518.64 | 691.49 | 693.38 | 753.18 | 664.10 | 992.88 | 1,272.81 | 1,026.64 |
Total non-current liabilities |
718.33 | 833.02 | 728.72 | 1,354.50 | 1,734.84 | 3,857.54 | 5,215.27 | 5,556.80 | 15,193.25 | 20,165.57 |
Total liabilities |
7,767.32 | 7,980.83 | 9,010.40 | 10,196.05 | 12,500.66 | 19,690.54 | 22,340.37 | 30,190.71 | 46,734.80 | 52,816.65 |
Common Stock (Net) |
75.79 | 75.95 | 74.92 | 71.95 | 72.00 | 73.50 | 64.57 | 65.49 | 64.67 | 67.52 |
Retained Earnings |
6,852.10 | 7,439.61 | 8,165.78 | 8,666.77 | 9,770.18 | 11,455.84 | 11,411.12 | 15,222.62 | 20,944.96 | 29,568.12 |
Treasury Stock |
1.34 | 1.67 | 1.68 | 1.50 | 1.23 | 0.95 | 0.85 | 0.73 | 0.29 | 0.30 |
Shareholders Equity (Other) |
(199.57) | 53.01 | (312.83) | (104.03) | (139.57) | (272.70) | 346.78 | 185.28 | (203.87) | (256.62) |
Common Equity (Total) |
6,726.97 | 7,566.90 | 7,926.18 | 8,633.19 | 9,701.39 | 11,255.69 | 11,821.62 | 15,472.66 | 20,805.47 | 29,378.71 |
Shareholders Equity (Total) |
6,726.97 | 7,566.90 | 7,926.18 | 8,633.19 | 9,701.39 | 11,255.69 | 11,821.62 | 15,472.66 | 20,805.47 | 29,378.71 |
Shareholders Equity and Liabilities (Total) |
14,494.29 | 15,547.72 | 16,936.58 | 18,829.24 | 22,202.05 | 30,946.22 | 34,161.99 | 45,663.37 | 67,540.27 | 82,195.36 |
Shares (Common) |
5,008.00 | 4,888.00 | 4,900.00 | 4,800.00 | 4,700.00 | 4,620.00 | 4,560.00 | 4,510.00 | 4,465.00 | 4,465.00 |
Shareholders Equity (Tangible) |
6,323.67 | 7,061.83 | 7,139.51 | 7,758.52 | 6,536.74 | 4,387.18 | 4,541.11 | 6,701.71 | 4,697.42 | 9,688.69 |
Net Debt |
(3,120.45) | (2,956.28) | (2,343.50) | (1,675.88) | (367.83) | 1,188.48 | (73.21) | (808.47) | 10,172.19 | 14,733.34 |
Total Debt |
34.03 | 257.32 | 78.74 | 672.00 | 1,586.54 | 4,239.22 | 3,651.01 | 3,921.27 | 14,904.12 | 19,827.04 |
In millions of $ except per-share values · columns are period end dates