Novo Nordisk Balance Sheet Health

Financial Health criteria checks 3/6

Novo Nordisk has a total shareholder equity of DKK138.5B and total debt of DKK118.7B, which brings its debt-to-equity ratio to 85.7%. Its total assets and total liabilities are DKK489.2B and DKK350.6B respectively. Novo Nordisk's EBIT is DKK146.8B making its interest coverage ratio 383.4. It has cash and short-term investments of DKK41.6B.

Key information

85.70%

Debt to equity ratio

DKK 118.72b

Debt

Interest coverage ratio383.4x
CashDKK 41.55b
EquityDKK 138.54b
Total liabilitiesDKK 350.62b
Total assetsDKK 489.16b

Recent financial health updates

Recent updates

Is Now The Time To Put Novo Nordisk (CPH:NOVO B) On Your Watchlist?

Jun 23
Is Now The Time To Put Novo Nordisk (CPH:NOVO B) On Your Watchlist?

Novo Nordisk A/S Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

May 09
Novo Nordisk A/S Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Why We're Not Concerned About Novo Nordisk A/S' (CPH:NOVO B) Share Price

Apr 24
Why We're Not Concerned About Novo Nordisk A/S' (CPH:NOVO B) Share Price
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EU#2 - From Humble Beginnings to Global Powerhouse

CagriSema – a combination therapy for obesity and diabetes that may be even more effective than Wegovy.

We Think Novo Nordisk (CPH:NOVO B) Can Manage Its Debt With Ease

Apr 07
We Think Novo Nordisk (CPH:NOVO B) Can Manage Its Debt With Ease

Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year

Mar 14
Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year

Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year

Feb 28
Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year
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Novo Nordisk will dominate with GLP-1 products boosting an 8% revenue spike

Are there any products or services that could move sales or earnings meaningfully?Most Immediate Catalyst (1–2 Years):Established GLP-1 Products:Ozempic & Rybelsus: driving robust sales and market pe

Novo Nordisk's (CPH:NOVO B) Upcoming Dividend Will Be Larger Than Last Year's

Feb 10
Novo Nordisk's (CPH:NOVO B) Upcoming Dividend Will Be Larger Than Last Year's

The Novo Nordisk A/S (CPH:NOVO B) Full-Year Results Are Out And Analysts Have Published New Forecasts

Feb 07
The Novo Nordisk A/S (CPH:NOVO B) Full-Year Results Are Out And Analysts Have Published New Forecasts

Novo Nordisk A/S (CPH:NOVO B) Not Flying Under The Radar

Jan 09
Novo Nordisk A/S (CPH:NOVO B) Not Flying Under The Radar

Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?

Dec 23
Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?

Solid Earnings May Not Tell The Whole Story For Novo Nordisk (CPH:NOVO B)

Nov 13
Solid Earnings May Not Tell The Whole Story For Novo Nordisk (CPH:NOVO B)

Novo Nordisk A/S (CPH:NOVO B) Just Released Its Third-Quarter Earnings: Here's What Analysts Think

Nov 09
Novo Nordisk A/S (CPH:NOVO B) Just Released Its Third-Quarter Earnings: Here's What Analysts Think
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Expanding Horizons And Innovation Drive Bold Growth In Pharma's Global Landscape

Strategic market expansion and supply chain investments are set to boost Novo Nordisk's revenue growth through increased production and broader geographical reach.

Is Novo Nordisk A/S (CPH:NOVO B) Trading At A 31% Discount?

Nov 01
Is Novo Nordisk A/S (CPH:NOVO B) Trading At A 31% Discount?

Novo Nordisk A/S' (CPH:NOVO B) P/E Still Appears To Be Reasonable

Oct 09
Novo Nordisk A/S' (CPH:NOVO B) P/E Still Appears To Be Reasonable

Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?

Jul 27
Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?

Financial Position Analysis

Short Term Liabilities: NOVO B's short term assets (DKK174.4B) do not cover its short term liabilities (DKK236.1B).

Long Term Liabilities: NOVO B's short term assets (DKK174.4B) exceed its long term liabilities (DKK114.5B).


Debt to Equity History and Analysis

Debt Level: NOVO B's net debt to equity ratio (55.7%) is considered high.

Reducing Debt: NOVO B's debt to equity ratio has increased from 2.3% to 85.7% over the past 5 years.

Debt Coverage: NOVO B's debt is well covered by operating cash flow (110.5%).

Interest Coverage: NOVO B's interest payments on its debt are well covered by EBIT (383.4x coverage).


Balance Sheet


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/08 00:08
End of Day Share Price 2025/07/08 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

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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 72 analysts. 24 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Kamla SinghAlphaValue
Gerhard SchwarzBaader Helvea Equity Research