Novo Nordisk Dividends and Buybacks
Dividend criteria checks 3/6
Novo Nordisk is a dividend paying company with a current yield of 4.07% that is well covered by earnings.
Key information
4.1%
Dividend yield
0.2%
Buyback Yield
| Total Shareholder Yield | 4.3% |
| Future Dividend Yield | 4.1% |
| Dividend Growth | 13.5% |
| Next dividend pay date | n/a |
| Ex dividend date | n/a |
| Dividend per share | n/a |
| Payout ratio | 43% |
Recent dividend and buyback updates
Recent updates
Narrative Update • Jun 01
NOVO B: Oral Obesity Pill Momentum Will Support Future Upside Potential
Analysts have nudged their DKK fair value estimate for Novo Nordisk slightly lower to DKK428.75 from DKK431.98, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E. These changes are broadly in line with recent cross sector research where modest target changes follow refined earnings and risk assessments rather than major shifts in outlook.
Narrative Update • May 17
NOVO B: Richer P E Multiple Will Magnify Execution And Safety Risks
Analysts have modestly lifted the fair value estimate for Novo Nordisk to DKK 186.48 from DKK 184.09, citing updated assumptions that include a slightly higher discount rate, softer revenue growth and profit margin expectations, and a higher forward P/E multiple. Analyst Commentary Analysts covering Novo Nordisk are paying close attention to how the updated assumptions interact with the current share price, especially around the higher forward P/E multiple now embedded in the fair value estimate.Narrative Update • May 01
NOVO B: Higher Discount Rate Will Pressure Long Term Cash Flows
The updated analyst price target for Novo Nordisk has been revised from DKK 340.00 to DKK 184.09. Analysts attribute this change to a higher discount rate, softer revenue growth assumptions, slightly lower profit margins, and a reduced future P/E estimate.Narrative Update • Apr 17
NOVO B: Higher Margin Outlook Will Support Future Upside Potential
Analysts have reduced the Novo Nordisk price target from DKK 518.34 to DKK 431.98, citing updated assumptions that include higher projected revenue growth and profit margins, offset by a lower future P/E multiple. Analyst Commentary Bullish analysts on Novo Nordisk are keeping a constructive tone even as the formal price target is reset to DKK 431.98.
Narrative Update • Apr 03
NOVO B: Future Returns Will Rely On Weekly Diabetes And Obesity Treatments
Narrative Update: Novo Nordisk Price Target Shift The analyst price target for Novo Nordisk has been adjusted slightly higher to DKK 309.77 from DKK 309.63. This reflects updated analyst assumptions that incorporate revised revenue growth, profit margin and future P/E inputs.Narrative Update • Mar 20
NOVO B: Future Returns Will Rely On Expanded Oral Obesity Medicines
Novo Nordisk's analyst price target has been revised from DKK 330.95 to DKK 309.63 as analysts factor in updated views on long term revenue growth, profit margins and future P/E assumptions. Analyst Commentary Analysts updating their models on Novo Nordisk are reassessing both growth and valuation assumptions, which is reflected in the revised DKK 309.63 price target.Narrative Update • Mar 06
NOVO B: Future Returns Will Rely On Oral Obesity And GLP-1 Tablet Expansion
The updated analyst price target for Novo Nordisk has shifted from DKK 376.59 to DKK 330.95, with analysts citing more measured assumptions on revenue growth, profit margins and future P/E as key drivers of the change. Analyst Commentary Analysts revisiting their assumptions on Novo Nordisk are effectively marking the shares to more conservative expectations, with the updated price target of DKK 330.95 reflecting a reset in what they are willing to pay for the company’s earnings profile.
New Narrative • Feb 23
Why did Novo Nordisk flop?
Novo Nordisk’s business model is straightforward. It develops hormone-based therapies, protects them with patents, manufactures them at scale, and sells them at high margins into reimbursed healthcare systems.Narrative Update • Feb 19
NOVO B: Future Returns Will Rely On Oral Obesity Treatments
Analysts have nudged their price target on Novo Nordisk slightly lower, from DKK 392.29 to DKK 376.59, reflecting updated views on revenue growth, profit margins, the discount rate, and expected future P/E levels. Analyst Commentary Even though the recent adjustment to the DKK 376.59 price target for Novo Nordisk is modest, it reflects a mix of confidence in the business and a bit more caution on assumptions that feed into valuation, such as revenue growth, profit margins, discount rate, and future P/E levels.Analysis Article • Feb 16
Novo Nordisk's (CPH:NOVO B) Solid Earnings May Rest On Weak Foundations
The market shrugged off Novo Nordisk A/S' ( CPH:NOVO B ) solid earnings report. We did some digging and believe...Analysis Article • Feb 08
Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year
The board of Novo Nordisk A/S ( CPH:NOVO B ) has announced that it will be paying its dividend of DKK7.95 on the 31st...Analysis Article • Feb 07
Earnings Update: Novo Nordisk A/S (CPH:NOVO B) Just Reported Its Yearly Results And Analysts Are Updating Their Forecasts
One of the biggest stories of last week was how Novo Nordisk A/S ( CPH:NOVO B ) shares plunged 20% in the week since...Narrative Update • Feb 05
NOVO B: Weight Management Franchise And Execution Discipline Will Support Future Upside
Analysts have trimmed their price target on Novo Nordisk to $518.34 from $540.00. This reflects updated views that pair slightly higher projected revenue growth with a modestly higher discount rate and a lower assumed future P/E multiple.Narrative Update • Jan 22
NOVO B: Wegovy Pill Launch And Execution Discipline Will Support Future Upside
Analysts have reduced their fair value estimate for Novo Nordisk to €540 from €612. They cite more moderate assumptions for revenue growth and profit margins, along with a higher discount rate and a slightly higher expected future P/E multiple.Analysis Article • Jan 17
Novo Nordisk A/S' (CPH:NOVO B) 26% Share Price Surge Not Quite Adding Up
Novo Nordisk A/S ( CPH:NOVO B ) shares have had a really impressive month, gaining 26% after a shaky period beforehand...Narrative Update • Jan 08
NOVO B: Future Returns Will Rely On Oral Obesity Treatment And Legal Risks
Narrative Update Analysts have nudged their fair value estimate for Novo Nordisk slightly lower, from $393.04 to $392.29, as small adjustments to revenue growth, profit margin, and future P/E assumptions result in a marginally reduced price target. Analyst Commentary Recent tweaks to fair value for Novo Nordisk reflect relatively modest shifts in assumptions rather than a major change in the overall thesis.Narrative Update • Dec 25
NOVO B: Future Returns Will Rely On Durable Obesity And Diabetes Cash Flows
Analysts have nudged their fair value estimate for Novo Nordisk slightly lower by about $0.25 per share to roughly $393.04, reflecting modestly softer long term revenue growth assumptions even as profit margin and valuation expectations remain broadly intact. Analyst Commentary Analyst sentiment around Novo Nordisk remains broadly constructive, with the slight fair value adjustment seen more as a recalibration of growth expectations than a shift in the underlying thesis.Narrative Update • Dec 11
NOVO B: Future Returns Will Rely On Obesity And Diabetes Franchise Leadership
Novo Nordisk's analyst price target has been trimmed modestly, with our fair value estimate moving to $393.29 from $400.24 as analysts factor in slightly slower revenue growth assumptions while still recognizing resilient margins and a supportive valuation multiple. Analyst Commentary Analyst sentiment toward Novo Nordisk remains broadly constructive, with the modest price target reduction seen as a recalibration of expectations rather than a shift in the long term thesis.Narrative Update • Nov 27
NOVO B: Long-Term Momentum Will Rely On Diabetes And Obesity Expansion
Novo Nordisk's analyst price target has been lowered from $431.99 to $400.24, as analysts cite moderating revenue growth and slightly reduced profit margins in their updated outlook. Analyst Commentary Analyst evaluations for Novo Nordisk reflect a mix of confidence in the company's long-term positioning and careful attention to near-term risks.Narrative Update • Nov 10
NOVO B: Revenue Pipeline Expansion May Drive Long-Term Shareholder Returns
Analysts have slightly reduced their price target for Novo Nordisk to $431.99 from $438.59, citing modest downward revisions to forecasted revenue growth and profit margins as primary factors in the updated outlook. Analyst Commentary Recent analyst updates offer a balanced view of Novo Nordisk's prospects, with both optimism and caution shaping current sentiment following the revised price target.Narrative Update • Oct 27
Product Launches And Leadership Shifts Will Support Expanding Market Reach
Novo Nordisk's analyst price target was slightly reduced to $438.59 from $444.05. Analysts pointed to moderated revenue growth and profitability expectations in their updated outlook.Narrative Update • Sep 26
GLP-1 Therapy Penetration And Global Launches Will Unlock Market Potential
Novo Nordisk’s consensus analyst price target has been revised downward, primarily reflecting slightly softer revenue growth expectations, with the new fair value set at DKK444.05. What's in the News Novo Nordisk presented robust real-world and clinical data at major scientific congresses, highlighting significant cardiovascular, renal, weight loss, and liver benefits of its semaglutide-based therapies (Ozempic, Wegovy, Rybelsus) and the investigational agent cagrilintide, leading to new regulatory approvals and expanded indications for conditions such as type 2 diabetes, chronic kidney disease, cardiovascular disease, obesity, and MASH (Key Developments, August-September 2025).Narrative Update • Sep 11
GLP-1 Therapy Penetration And Global Launches Will Unlock Market Potential
The modest downward revision in Novo Nordisk’s analyst price target reflects softer consensus revenue growth forecasts, with fair value decreasing slightly from DKK465.30 to DKK459.05. What's in the News Novo Nordisk received FDA approval for expanded indications for its leading semaglutide products: Wegovy® for treatment of metabolic dysfunction-associated steatohepatitis (MASH) with advanced fibrosis, and Ozempic® as the first and only medication approved for both glycemic control and renal/cardiovascular risk reduction in adults with type 2 diabetes and chronic kidney disease.Narrative Update • Aug 27
GLP-1 Therapy Penetration And Global Launches Will Unlock Market Potential
Novo Nordisk's fair value estimate has been revised downward, primarily reflecting a modest decline in the company’s future P/E multiple, with the consensus analyst price target decreasing from DKK484.33 to DKK465.30. What's in the News Novo Nordisk continues to expand its GLP-1 portfolio, with FDA approvals for new indications: Ozempic® is now the first and only drug approved to treat both glycemic control and reduce cardiovascular and kidney risks in type 2 diabetes (T2D) with chronic kidney disease (CKD), while Wegovy® received the first-ever GLP-1 approval for metabolic dysfunction-associated steatohepatitis (MASH), showing significant improvements in fibrosis and resolution of steatohepatitis (Key Developments, Aug 15 & 19, 2025).Stability and Growth of Payments
Fetching dividends data
Stable Dividend: NOVO B's dividend payments have been volatile in the past 10 years.
Growing Dividend: NOVO B's dividend payments have increased over the past 10 years.
Dividend Yield vs Market
| Novo Nordisk Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (NOVO B) | 4.1% |
| Market Bottom 25% (DK) | 1.6% |
| Market Top 25% (DK) | 4.3% |
| Industry Average (Pharmaceuticals) | 2.7% |
| Analyst forecast (NOVO B) (up to 3 years) | 4.1% |
Notable Dividend: NOVO B's dividend (4.07%) is higher than the bottom 25% of dividend payers in the Danish market (1.57%).
High Dividend: NOVO B's dividend (4.07%) is low compared to the top 25% of dividend payers in the Danish market (4.35%).
Earnings Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (42.6%), NOVO B's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (167.9%), NOVO B's dividend payments are not well covered by cash flows.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/12 07:43 |
| End of Day Share Price | 2026/06/12 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Novo Nordisk A/S is covered by 54 analysts. 28 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Gerhard Schwarz | Baader Helvea Equity Research |
| José Romero Herrero | Banco Santander |