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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) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Novo Nordisk A/S (NVO) trades at a P/B ratio of 5.2×. Over the past ten years it has ranged from 4.8× (October 2026) to 45.5× (June 2024); the current reading is higher than 1% of that period. That is in line with the Drug Manufacturers General industry median of 5.2× and above the Healthcare sector median of 2.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 7.7× (58.21%)
FY2024 18.4× (37.75%)
FY2023 29.6× 12.72%
FY2022 26.2× 14.83%
FY2021 22.9× 35.99%
FY2020 16.8× 5.58%
FY2019 15.9× 13.16%
FY2018 14.1× (20.54%)
FY2017 17.7× 31.04%
FY2016 13.5× (36.78%)

Quarterly newest first

Period P/B ratio Change
Jun 2026 6.2× 20.32%
Mar 2026 5.1× (33.29%)
Dec 2025 7.7× (17.01%)
Sep 2025 9.3× (22.71%)
42 more quarters

Against its own ten years

Low 4.8× High 45.5×
Ten-year median 17.8×
Current reading's percentile 1

P/B ratio against peers

Company P/B ratio
SNY Sanofi compare 1.4×
PFE Pfizer Inc. compare 1.9×
GSK GSK PLC Sponsored ADR compare 4.1×
NVO Novo Nordisk A/S 5.2×
BMY Bristol Myers Squibb Company compare 5.5×
AZN AstraZeneca PLC compare 5.6×
NVS Novartis AG compare 8.2×
GILD Gilead Sciences, Inc. compare 16.1×
AMGN Amgen Inc. compare 21.4×
Drug Manufacturers General industry median 5.2×
Healthcare sector median 2.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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