Novo Nordisk Past Earnings Performance

Past criteria checks 4/6

Novo Nordisk has been growing earnings at an average annual rate of 21.6%, while the Pharmaceuticals industry saw earnings growing at 9% annually. Revenues have been growing at an average rate of 20% per year. Novo Nordisk's return on equity is 75.5%, and it has net margins of 34.5%.

Key information

21.60%

Earnings growth rate

22.77%

EPS growth rate

Pharmaceuticals Industry Growth5.95%
Revenue growth rate19.95%
Return on equity75.51%
Net Margin34.51%
Next Earnings Update06 Aug 2025

Recent past performance updates

Recent updates

Novo Nordisk: The Time To Buy Has Come

Jun 10

Novo Nordisk: Examining Tariff And Pricing Risks

Apr 26

Novo Nordisk: A Price Too Low To Ignore

Apr 18

Eli Lilly Vs. Novo Nordisk: Which Is The Better Bargain For Investors

Mar 30

Novo Nordisk: CagriSema Disappoints Again

Mar 10

Why Novo Nordisk Is A Strong Buy Despite Market Concerns

Feb 20

Novo Nordisk: Dips Like These Come Once Every Few Years

Feb 13
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Novo Nordisk aims for a promising future with a fair value of 101.75

Revenue growth is expected to be driven by continued demand for GLP-1 drugs, especially Ozempic and Wegovy.

Novo Nordisk Q4 Earnings: Outperformance Suggests Stock Price Comeback Starts Today

Feb 05

Novo Nordisk: Excellent Opportunity To Buy The Dip

Jan 15

Novo Nordisk Vs. Eli Lilly: Obesity Makes Their Future Bright, But One Of Them Has More Potential

Jan 06

Novo Nordisk Stock: A Rare Buying Opportunity

Dec 20

Novo Nordisk: Just The Right Price (Rating Upgrade)

Dec 11

Novo Nordisk: Can CagriSema Show 25% Weight Loss In REDEFINE-1 Trial?

Nov 25

Novo Nordisk: A GLP-1 Leader Faces Increasing Competition

Nov 06

Novo Nordisk: A Diabetes Leader Among Big Pharma, But Still Overvalued

Oct 21

Multiple Strong Catalysts And Attractive Valuation Make Novo Nordisk A Buy

Sep 18

Novo Nordisk: Low Dividend Yield, Decelerated Growth Rates, Hold For Now

Sep 10

Novo Nordisk: Great Value Buying Opportunity, Thanks To The Much-Needed Rotation

Aug 18

Novo Nordisk: Growth Only Limited By Manufacturing Capacity

Aug 07

Novo Nordisk: Better Buying Opportunities Ahead

Jul 26

Novo Nordisk: Buy On Dips

Jul 04

Novo Nordisk Breaks Out To An All-Time High On China Approval Of Wegovy

Jun 26

Novo Nordisk: Leading The Fight Against Diabetes And Obesity

Jun 18

Novo Nordisk: Considerable Growth Beyond Ozempic

May 27

The FTC Cracks Down On Novo Nordisk's Ozempic

May 03

Novo Nordisk: Medicare Coverage To Unlock Another Big Market For Wegovy

Apr 26

Novo Nordisk: The Moat Won't Last Forever

Apr 09

Shaping The Future Of Obesity Treatment: GLP-1 Agonists At The Forefront

Mar 18

Revenue & Expenses Breakdown

How Novo Nordisk makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

NYSE:NVO Revenue, expenses and earnings (DKK Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 25303,141104,61569,06741,774
31 Dec 24290,403100,98867,36840,072
30 Sep 24270,58394,72165,72237,606
30 Jun 24258,00389,89863,20536,246
31 Mar 24244,24389,27662,52432,953
31 Dec 23232,26183,68361,59431,075
30 Sep 23214,49075,31258,06329,308
30 Jun 23201,32567,23956,59726,813
31 Mar 23188,29061,12953,01424,809
31 Dec 22176,95455,52550,68323,263
30 Sep 22167,19552,82548,41521,021
30 Jun 22157,25150,53945,94919,640
31 Mar 22149,02749,34443,02318,461
31 Dec 21140,80047,75741,05817,199
30 Sep 21134,60546,18339,20016,273
30 Jun 21129,91044,36238,23715,932
31 Mar 21126,87542,86437,55715,279
31 Dec 20126,94642,13836,88615,462
30 Sep 20127,22541,53736,69314,913
30 Jun 20126,57541,43336,28314,603
31 Mar 20126,60540,40336,49014,869
31 Dec 19122,02138,95135,83014,220
30 Sep 19119,33638,73135,05614,352
30 Jun 19116,82137,57434,34614,395
31 Mar 19114,19238,32233,85514,134
31 Dec 18111,83138,62833,31314,805
30 Sep 18110,09138,38432,72914,244
30 Jun 18108,94339,11732,06213,928
31 Mar 18110,17438,72531,73914,046
31 Dec 17111,69638,13032,12414,014
30 Sep 17113,27638,57631,78614,501
30 Jun 17114,19938,60932,26814,631
31 Mar 17113,02038,62632,39014,548
31 Dec 16111,78037,92532,33914,563
30 Sep 16111,08437,48432,46713,884
30 Jun 16110,33936,06432,49513,715
31 Mar 16109,93934,43932,81713,419
31 Dec 15107,92734,86032,16913,608
30 Sep 15103,63633,13130,71213,616
30 Jun 1599,09331,24829,57813,381
31 Mar 1593,66329,89927,87013,421
31 Dec 1488,80626,48126,76013,762
30 Sep 1485,91926,00526,57112,863
30 Jun 1484,18125,92026,15312,604

Quality Earnings: NVO has high quality earnings.

Growing Profit Margin: NVO's current net profit margins (34.5%) are lower than last year (36.6%).


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: NVO's earnings have grown significantly by 21.6% per year over the past 5 years.

Accelerating Growth: NVO's earnings growth over the past year (17.2%) is below its 5-year average (21.6% per year).

Earnings vs Industry: NVO earnings growth over the past year (17.2%) exceeded the Pharmaceuticals industry 13.1%.


Return on Equity

High ROE: NVO's Return on Equity (75.5%) is considered outstanding.


Return on Assets


Return on Capital Employed


Discover strong past performing companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/06/12 10:54
End of Day Share Price 2025/06/12 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 71 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