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Friday 6 November 2026 Export NVO’s income statement to Excel — free account

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.

Revenue
+4.47%
EPS
−18.7%
Free cash flow
+71.6%
Total debt
+44.4%

Quarter to June 2026, against a year earlier

40.33 1.85 −4.39%
Market cap
$134.8B
P/E
9.9×
Fwd P/E
—
Dividend yield
4.45%
F-score
5/9
Altman Z
4.32
Beneish M
−2.51
Dividend safety
46/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Novo Nordisk A/S (NVO) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Novo Nordisk A/S (NVO) trades at a EV/FCF of 25.4×. Over the past ten years it has ranged from 12.8× (March 2017) to 89.6× (June 2024); the current reading is higher than 36% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 54.9× 40.90%
FY2024 38.9× (13.37%)
FY2023 44.9× 31.60%
FY2022 34.2× 0.12%
FY2021 34.1× (4.01%)
FY2020 35.5× 39.54%
FY2019 25.5× 14.95%
FY2018 22.2× (16.42%)
FY2017 26.5× 79.81%
FY2016 14.7× (52.20%)

Quarterly newest first

Period EV/FCF Change
Jun 2026 29.8× (20.40%)
Mar 2026 37.4× (31.74%)
Dec 2025 54.9× 101.83%
Sep 2025 27.2× (21.06%)
42 more quarters

Against its own ten years

Low 12.8× High 89.6×
Ten-year median 28.0×
Current reading's percentile 38

EV/FCF against peers

Company EV/FCF
SNY Sanofi compare 7.5×
GSK GSK PLC Sponsored ADR compare 14.6×
GILD Gilead Sciences, Inc. compare 16.5×
BMY Bristol Myers Squibb Company compare 17.2×
PFE Pfizer Inc. compare 19.9×
NVS Novartis AG compare 24.4×
NVO Novo Nordisk A/S 25.4×
AMGN Amgen Inc. compare 31.8×
AZN AstraZeneca PLC compare 49.5×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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