your badges 52W Range $35–$64 8% of range Analyst Rating HOLD 36 analysts Price Target $46 +23% upside P/E 2.2 ROE 60.7% Net Profit Margin 33.1%

NVO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $37.53
P/E 2.2
EPS $23.03
Revenue $309.06B
ROE 60.7%
52W Range $35–$64

NVO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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Stock splits 5
Ex-date Split Type
Sept. 20, 2023 2-for-1 Forward
Jan. 9, 2014 5-for-1 Forward
Dec. 17, 2007 2-for-1 Forward
April 11, 2001 5-for-2 Forward
April 18, 1994 4-for-1 Forward

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$309.06B
2019-12-31 → 2025-12-31
EPS$23.03
2019-12-31 → 2025-12-31
Free Cash Flow$58.96B
2021-12-31 → 2025-12-31
Net margin33.1%
2021-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend NVO 5Y avg Peer Median Verdict
P/E 2.25Y avg ≈4.5 ≈4.5 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Payout Ratio50.5%
Annualized Payout≈$1.16Paid semi-annually
5Y Div CAGR≈20.9%Per share, split-adjusted
Growth Streak≈7Consecutive years of dividend growth
Ex-dateAmountCurrencyYield
Aug 17, 2026$0.58USD≈4.1%
Mar 30, 2026$1.28USD≈5.3%
Aug 18, 2025$0.58USD≈3.1%
Mar 31, 2025$1.10USD≈2.3%
Aug 16, 2024$0.51USD≈1.1%
Mar 22, 2024$0.93USD≈1.1%
Aug 18, 2023$0.44USD≈1.1%
Mar 24, 2023$0.59USD≈1.2%
Aug 12, 2022$0.29USD≈1.5%
Mar 25, 2022$0.52USD≈1.5%
Aug 16, 2021$0.28USD≈1.5%
Mar 26, 2021$0.47USD≈2.2%
Aug 14, 2020$0.26USD≈2.0%
Mar 27, 2020$0.39USD≈2.2%
Aug 16, 2019$0.22USD≈2.4%
Mar 22, 2019$0.39USD≈2.5%
Aug 17, 2018$0.23USD≈2.4%
Mar 23, 2018$0.34USD≈2.4%
Aug 17, 2017$0.24USD≈2.5%
Mar 23, 2017$0.33USD≈3.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 2.0%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 $4.75 $5.03 -5.6%
March 31, 2026 $6.63 $5.39 23.1%
Dec. 31, 2025 $6.04 $5.96 1.4%
Sept. 30, 2025 $4.50 $4.84 -7.0%
June 30, 2025 $5.96 $6.03 -1.1%
March 31, 2025 $6.04 $5.96 1.4%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 15
Metric Trend 202520242023202220212020
Revenue $309.06B$290.40B$232.26B$176.95B$140.80B$126.95B
Cost of Revenue $58.79B$44.52B$35.77B$28.45B$23.66B$20.93B
Gross Profit $250.28B$245.88B$196.50B$148.51B$117.14B$106.01B
R&D Expense $52.04B$48.06B$32.44B$24.05B$17.77B$15.46B
Operating Income $127.66B$128.34B$102.57B$74.81B$58.64B$54.13B
Interest Expense $4.21B$1.64B$542M$378M$289M$390M
Interest Income $9.66B$6.20B$2.94B$239M$2.89B$1.63B
Pretax Income $130.54B$127.19B$104.67B$69.06B$59.08B$53.13B
Income Tax $28.11B$26.20B$20.99B$13.54B$11.32B$10.99B
Net Income $102.43B$100.99B$83.68B$55.52B$47.76B$42.14B
EPS (Basic) $23.06$22.67$18.67$12.26$10.40$18.05
EPS (Diluted) $23.03$22.63$18.62$12.22$10.37$18.01
Shares (Basic) 4,443,000,0004,453,900,0004,482,800,0004,530,600,0004,593,200,0002,333,900,000
Shares (Diluted) 4,447,700,0004,463,000,0004,494,800,0004,544,600,0004,606,200,0002,340,000,000
EBITDA $142.32B$136.88B$102.57B$74.81B$58.64B·
Balance Sheet 11
Metric Trend 202520242023202220212020
Cash & Equivalents $26.46B$15.65B$14.39B$12.65B$10.72B$12.23B
Inventory $49.62B$40.85B$31.81B$24.39B$19.62B$18.54B
Current Assets $172.45B$161.79B$139.65B$108.19B$85.59B$65.81B
PP&E (Net) ··$90.96B$66.67B$55.36B$50.27B
Goodwill $19.84B$20.02B····
Intangibles $110.21B$90.80B$60.41B$50.94B$43.17B$20.66B
Total Assets $542.90B$465.63B$314.49B$241.26B$194.51B$144.92B
Current Liabilities $215.66B$217.61B$169.66B$120.94B$99.52B$70.27B
Total Liabilities $348.86B$322.14B$207.93B$157.77B$123.76B$81.60B
Retained Earnings $195.30B$144.45B$104.84B$80.59B$72.00B$63.77B
Stockholders' Equity $194.05B$143.49B$106.56B$83.49B$70.75B$63.33B
Cash Flow 9
Metric Trend 202520242023202220212020
D&A $14.67B$8.54B$7.29B$6.55B··
Other Non-cash $2.00B$11.44B····
Operating Cash Flow $119.10B$120.97B$108.91B$78.89B$55.00B$51.95B
CapEx $60.14B$47.16B$25.81B$12.15B$6.33B$5.83B
Investing Cash Flow $-79.16B$-128.90B$-43.89B$-24.92B$-31.61B$-22.44B
Dividends Paid $51.76B$44.14B$31.77B$25.30B$21.52B$20.12B
Financing Cash Flow $-28.41B$8.73B$-63.16B$-51.80B$-25.49B$-32.24B
Free Cash Flow $58.96B$73.80B$83.10B$66.74B$48.66B·
Levered FCF $55.66B$72.50B$82.67B$66.44B$48.43B·
Profitability 8
Metric Trend 202520242023202220212020
Gross Margin 81.0%84.7%84.6%83.9%83.2%·
Operating Margin 41.3%44.2%44.2%42.3%41.6%·
Net Margin 33.1%34.8%36.0%31.4%33.9%·
Pretax Margin 42.2%43.8%45.1%39.0%42.0%·
EBITDA Margin 46.1%47.1%44.2%42.3%41.6%·
ROA 20.3%25.9%30.1%25.5%28.1%·
ROE 60.7%80.8%88.1%72.0%71.2%·
ROIC 51.6%71.0%77.0%72.0%67.0%·
Liquidity & Solvency 3
Metric Trend 202520242023202220212020
Current Ratio 0.80.70.80.90.9·
Quick Ratio 0.10.10.10.10.1·
Interest Coverage 30.378.3189.3197.9202.9·
Efficiency 2
Metric Trend 202520242023202220212020
Asset Turnover 0.60.70.80.80.8·
Inventory Turnover 1.31.21.31.31.2·
Per Share 3
Metric Trend 202520242023202220212020
Revenue / Share $69.49$65.07$51.67$77.87$61.13·
Cash Flow / Share $26.78$27.10$24.23$34.72$23.88·
EPS (TTM) $23.03$22.63$18.62$12.22$10.37·
Valuation (TTM) 6
Metric Trend 202520242023202220212020
Revenue TTM $309.06B$290.40B$232.26B$176.95B$140.80B·
Net Income TTM $102.43B$100.99B$83.68B$55.52B$47.76B·
P/E 2.23.85.65.55.4·
Earnings Yield 45.3%26.3%18.0%18.1%18.5%·
Payout Ratio 50.5%43.7%38.0%45.6%45.1%·
Annual Payout $51.76B$44.14B$31.77B$25.30B$21.52B·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $309.06B $290.40B $232.26B $176.95B $140.80B
Gross Margin % 81.0% 84.7% 84.6% 83.9% 83.2%
Operating Margin % 41.3% 44.2% 44.2% 42.3% 41.6%
Net Income $102.43B $100.99B $83.68B $55.52B $47.76B
Diluted EPS $23.03 $22.63 $18.62 $12.22 $10.37

Institutional owners (13F) 1,525 filers · $19.5B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 1,525
Value held $19.5B
New positions 222
Exited positions 115
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
222 (+39 vs prior Q) 115 (-146 vs prior Q) 487 (+15 vs prior Q) 479 (-12 vs prior Q) +7.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Dodge & Cox $977,837,453 20,397,110 5.00% Shares
LOOMIS SAYLES & CO L P $891,413,244 18,594,352 4.56% Shares
FRANKLIN RESOURCES INC $625,190,796 13,041,109 3.20% Shares
PeakShares LLC $606,057,000 12,642 3.10% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $575,721,048 12,009,200 2.95% Call option
MORGAN STANLEY $558,974,303 11,659,869 2.86% Shares
BANK OF AMERICA CORP /DE/ $535,811,574 11,176,712 2.74% Shares
Capital International Investors $467,583,801 9,721,180 2.39% Shares
FOLKETRYGDFONDET $456,503,041 9,522,383 2.34% Shares
GOLDMAN SACHS GROUP INC $440,112,693 9,180,490 2.25% Shares
CITADEL ADVISORS LLC $434,307,636 9,059,400 2.22% Call option
CITADEL ADVISORS LLC $423,377,316 8,831,400 2.17% Put option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $423,324,582 8,830,300 2.17% Put option
Fisher Asset Management, LLC $399,098,057 8,324,948 2.04% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $396,501,433 8,270,785 2.03% Shares
JANE STREET GROUP, LLC $349,223,724 7,284,600 1.79% Put option
EVERETT HARRIS & CO /CA/ $310,441,319 6,475,622 1.59% Shares
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO $294,484,777 6,142,778 1.51% Shares
STATE STREET CORP $284,565,378 5,869,834 1.46% Shares
ROYAL BANK OF CANADA $258,831,000 5,399,061 1.32% Shares
Capital World Investors $249,609,889 5,205,926 1.28% Shares
D. E. Shaw & Co., Inc. $243,870,780 5,087,000 1.25% Put option
FRED ALGER MANAGEMENT, LLC $235,268,906 4,907,570 1.20% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $230,858,714 4,815,576 1.18% Shares
WELLS FARGO & COMPANY/MN $223,287,376 4,657,642 1.14% Shares
JANE STREET GROUP, LLC $212,786,484 4,438,600 1.09% Call option
ENVESTNET ASSET MANAGEMENT INC $193,250,364 4,031,114 0.99% Shares
UBS Group AG $191,038,023 3,984,940 0.98% Shares
BlackRock, Inc. $185,105,094 3,861,182 0.95% Shares
NORTHERN TRUST CORP $177,051,912 3,693,198 0.91% Shares
Saratoga Research & Investment Management $155,134,271 3,236,009 0.79% Shares
BANK OF NOVA SCOTIA $146,936,790 3,065,015 0.75% Shares
RENAISSANCE TECHNOLOGIES LLC $145,374,263 3,032,421 0.74% Shares
Nuveen, LLC $142,346,133 2,969,256 0.73% Shares
Fayez Sarofim & Co $140,200,531 2,924,500 0.72% Shares
RAYMOND JAMES FINANCIAL INC $139,217,162 2,903,988 0.71% Shares
Markel Group Inc. $137,576,966 2,869,774 0.70% Shares
D. E. Shaw & Co., Inc. $134,073,798 2,796,700 0.69% Call option
Point72 Asset Management, L.P. $133,244,436 2,779,400 0.68% Put option
BARCLAYS PLC $131,337,239 2,739,617 0.67% Shares
FARALLON CAPITAL MANAGEMENT, L.L.C. $125,554,860 2,619,000 0.64% Shares
GOLDMAN SACHS GROUP INC $122,467,524 2,554,600 0.63% Put option
FMR LLC $110,568,487 2,306,393 0.57% Shares
UBS Group AG $102,979,914 2,148,100 0.53% Put option
MILLENNIUM MANAGEMENT LLC $97,602,916 2,035,939 0.50% Shares
LPL Financial LLC $83,287,752 1,737,333 0.43% Shares
MARSHALL WACE, LLP $81,838,567 1,707,104 0.42% Shares
AMERIPRISE FINANCIAL INC $80,614,737 1,688,444 0.41% Shares
CAUSEWAY CAPITAL MANAGEMENT LLC $80,424,851 1,677,615 0.41% Shares
MAVERICK CAPITAL LTD $79,286,624 1,653,872 0.41% Shares

Show all 1,525 institutional owners →

Activists & 5%+ owners 4 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Novo Nordisk A/S ×4 filings Sept. 22, 2014 · Initial filing · SEC
Undisclosed reporting person March 14, 2003 · Initial filing · SEC
Undisclosed reporting person Aug. 8, 2002 · Initial filing · SEC
Undisclosed reporting person Nov. 14, 2001 · Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 10 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
PID · Invesco Exchange-Traded Fund Trust 1.97% 443,059 SH Oct. 5, 2026 Daily
CVGD · Elevation Series Trust 1.85% 54,442 NS July 31, 2026 N-PORT
MEDI · Harbor ETF Trust 1.46% 12,780 NS July 31, 2026 N-PORT
SPWO · SP Funds Trust 0.76% 32,080 NS July 31, 2026 N-PORT
DXIV · Dimensional ETF Trust 0.04% 1,686 NS July 31, 2026 N-PORT
DFAX · Dimensional ETF Trust 0.02% 51,576 NS July 31, 2026 N-PORT
DFAI · Dimensional ETF Trust 0.02% 65,882 NS July 31, 2026 N-PORT
DFIC · Dimensional ETF Trust 0.02% 52,666 NS July 31, 2026 N-PORT
DFSI · Dimensional ETF Trust 0.00% 804 NS July 31, 2026 N-PORT
DIHP · Dimensional ETF Trust 0.00% 4,265 NS July 31, 2026 N-PORT

NVO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 36 analysts HOLD
Median target $44.78 +19.3%
5 13.9% Strong Buy
6 16.7% Buy
22 61.1% Hold
2 5.6% Sell
1 2.8% Strong Sell

12-Month Price Target

12 analysts · 2026-10-07

Mean target $46.15 +23.0%

← Below all targets Current price $37.53
Low$39.20 Mean$46.15 High$62.03

Latest News Recent headlines mentioning this company

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Why Lilly and Novo are betting on amylin to power a new wave of obesity drugs after GLP-1s CNBC · 4 days, 12 hours ago Two Indian nationals charged with smuggling counterfeit Ozempic from China: DOJ CNBC · 1 week ago Could This Be Novo Nordisk’s Next Billion-Dollar Weight-Loss Product? Nasdaq · 1 week, 4 days ago Novo is betting on its next chapter as Eli Lilly gains more ground in GLP-1s CNBC · 1 week, 4 days ago Novo's new strategy hinges on something it can't manufacture: investor trust CNBC · 1 week, 5 days ago Eli Lilly vs. Novo: The Obesity-Drug Battle Is Entering Its Next Round Yahoo Finance · 2 weeks ago Why Novo Nordisk Stock Just Crashed Nasdaq · 2 weeks, 1 day ago Eli Lilly CEO tells CNBC one-third of new GLP-1 pill patients are taking Foundayo, as drugmaker ramps up production CNBC · 2 weeks, 1 day ago Novo Nordisk rebrands to 'Novo,' unveils corporate changes as it fights for obesity market share CNBC · 3 weeks, 1 day ago Can Oral Wegovy Help Novo Nordisk Capture China’s $4.46 Billion GLP-1 Opportunity? Yahoo Finance · 3 weeks, 4 days ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 20-F filed Feb 4, 2026