Novo Nordisk A/S

BATS-CHIXE:NOVOBC Stock Report

Market Cap: DKK 3.2t

Novo Nordisk Valuation

Is NOVOBC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NOVOBC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NOVOBC (DKK718.2) is trading below our estimate of fair value (DKK1106.36)

Significantly Below Fair Value: NOVOBC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NOVOBC?

Key metric: As NOVOBC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NOVOBC. This is calculated by dividing NOVOBC's market cap by their current earnings.
What is NOVOBC's PE Ratio?
PE Ratio33.3x
EarningsDKK 94.72b
Market CapDKK 3.15t

Price to Earnings Ratio vs Peers

How does NOVOBC's PE Ratio compare to its peers?

The above table shows the PE ratio for NOVOBC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.3x
AZN AstraZeneca
29.8x18.0%UK£154.7b
GSK GSK
21.3x22.4%UK£53.1b
HIK Hikma Pharmaceuticals
17.8x11.2%UK£4.0b
LLY Eli Lilly
80.3x29.5%US$671.9b
NOVOBC Novo Nordisk
33.3x14.4%DKK 3.2t

Price-To-Earnings vs Peers: NOVOBC is good value based on its Price-To-Earnings Ratio (33.3x) compared to the peer average (37.3x).

Price to Earnings Ratio vs Industry

How does NOVOBC's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies7PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NOVOBC is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the European Pharmaceuticals industry average (20.7x).

Price to Earnings Ratio vs Fair Ratio

What is NOVOBC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NOVOBC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.3x
Fair PE Ratio42.1x

Price-To-Earnings vs Fair Ratio: NOVOBC is good value based on its Price-To-Earnings Ratio (33.3x) compared to the estimated Fair Price-To-Earnings Ratio (42.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NOVOBC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentDKK 707.90
DKK 938.04
+32.5%
20.3%DKK 1,150.00DKK 560.00n/a24
Nov ’25DKK 773.15
DKK 944.58
+22.2%
20.4%DKK 1,150.00DKK 560.00n/a24
Oct ’25DKK 799.25
DKK 950.04
+18.9%
20.3%DKK 1,150.00DKK 560.00n/a25
Sep ’25DKK 931.00
DKK 950.81
+2.1%
20.1%DKK 1,200.00DKK 560.00n/a26
Aug ’25DKK 912.60
DKK 965.65
+5.8%
18.7%DKK 1,200.00DKK 560.00n/a26
Jul ’25DKK 1,011.00
DKK 952.15
-5.8%
18.3%DKK 1,200.00DKK 560.00n/a26
Jun ’25DKK 926.35
DKK 917.31
-1.0%
18.5%DKK 1,120.00DKK 530.00n/a26
May ’25DKK 899.00
DKK 904.20
+0.6%
19.4%DKK 1,120.00DKK 530.00n/a25
Apr ’25DKK 893.55
DKK 894.24
+0.08%
19.6%DKK 1,120.00DKK 530.00n/a25
Mar ’25DKK 846.35
DKK 820.08
-3.1%
16.8%DKK 980.00DKK 530.00n/a24
Feb ’25DKK 784.55
DKK 770.90
-1.7%
18.5%DKK 980.00DKK 450.00n/a23
Jan ’25DKK 696.70
DKK 720.74
+3.5%
20.4%DKK 875.00DKK 360.00n/a23
Dec ’24DKK 695.40
DKK 711.35
+2.3%
20.2%DKK 875.00DKK 360.00n/a23
Nov ’24DKK 688.05
DKK 683.48
-0.7%
21.1%DKK 825.00DKK 360.00DKK 773.1522
Oct ’24DKK 650.55
DKK 648.75
-0.3%
19.7%DKK 810.00DKK 360.00DKK 799.2522
Sep ’24n/a
DKK 618.30
0%
18.1%DKK 775.00DKK 360.00DKK 931.0022
Aug ’24n/a
DKK 583.13
0%
15.8%DKK 725.00DKK 360.00DKK 912.6023
Jul ’24n/a
DKK 579.06
0%
16.2%DKK 725.00DKK 360.00DKK 1,011.0022
Jun ’24n/a
DKK 574.51
0%
16.8%DKK 725.00DKK 360.00DKK 926.3522
May ’24n/a
DKK 559.05
0%
19.5%DKK 725.00DKK 340.00DKK 899.0022
Apr ’24n/a
DKK 510.61
0%
18.6%DKK 620.00DKK 340.00DKK 893.5522
Mar ’24n/a
DKK 489.63
0%
17.0%DKK 610.00DKK 340.00DKK 846.3523
Feb ’24n/a
DKK 475.37
0%
18.3%DKK 600.00DKK 270.00DKK 784.5523
Jan ’24n/a
DKK 449.57
0%
15.4%DKK 542.50DKK 270.00DKK 696.7023
Dec ’23n/a
DKK 436.25
0%
15.9%DKK 542.50DKK 270.00DKK 695.4024
Nov ’23n/a
DKK 425.66
0%
15.6%DKK 535.00DKK 270.00DKK 688.0525

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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