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 ratio | 383.4x |
| Cash | DKK 41.55b |
| Equity | DKK 138.54b |
| Total liabilities | DKK 350.62b |
| Total assets | DKK 489.16b |
Recent financial health updates
We Think Novo Nordisk (CPH:NOVO B) Can Manage Its Debt With Ease
Apr 07
Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?
Dec 23Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?
Jul 27Recent updates
Is Now The Time To Put Novo Nordisk (CPH:NOVO B) On Your Watchlist?
Jun 23Novo Nordisk A/S Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
May 09Why We're Not Concerned About Novo Nordisk A/S' (CPH:NOVO B) Share Price
Apr 24
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 07Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year
Mar 14Novo Nordisk (CPH:NOVO B) Is Paying Out A Larger Dividend Than Last Year
Feb 28
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 peNovo Nordisk's (CPH:NOVO B) Upcoming Dividend Will Be Larger Than Last Year's
Feb 10The Novo Nordisk A/S (CPH:NOVO B) Full-Year Results Are Out And Analysts Have Published New Forecasts
Feb 07Novo Nordisk A/S (CPH:NOVO B) Not Flying Under The Radar
Jan 09Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?
Dec 23Solid Earnings May Not Tell The Whole Story For Novo Nordisk (CPH:NOVO B)
Nov 13Novo Nordisk A/S (CPH:NOVO B) Just Released Its Third-Quarter Earnings: Here's What Analysts Think
Nov 09
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 01Novo Nordisk A/S' (CPH:NOVO B) P/E Still Appears To Be Reasonable
Oct 09Is Novo Nordisk (CPH:NOVO B) Using Too Much Debt?
Jul 27Financial 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/07/08 00:08 |
| End of Day Share Price | 2025/07/08 00:00 |
| Earnings | 2025/03/31 |
| Annual Earnings | 2024/12/31 |
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
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
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.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Kamla Singh | AlphaValue |
| Gerhard Schwarz | Baader Helvea Equity Research |