Novo Nordisk A/S

OTCPK:NONO.F Stock Report

Market Cap: US$444.6b

Novo Nordisk Valuation

Is NONO.F 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 NONO.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NONO.F ($102.2) is trading below our estimate of fair value ($153.8)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NONO.F?

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

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

Price to Earnings Ratio vs Peers

How does NONO.F's PE Ratio compare to its peers?

The above table shows the PE ratio for NONO.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.6x
LLY Eli Lilly
80.3x29.5%US$671.9b
JNJ Johnson & Johnson
25.1x10.3%US$370.8b
MRK Merck
20.1x15.7%US$243.6b
PFE Pfizer
32.9x16.8%US$140.5b
NONO.F Novo Nordisk
33.3x14.4%US$3.2t

Price-To-Earnings vs Peers: NONO.F is good value based on its Price-To-Earnings Ratio (33.3x) compared to the peer average (39.6x).

Price to Earnings Ratio vs Industry

How does NONO.F's PE Ratio compare vs other companies in the US Pharmaceuticals Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
OGN Organon
3x-7.1%US$3.87b
NDOI Endo
0.6xn/aUS$1.91b
PROC Procaps Group
1.5xn/aUS$77.85m
KPRX Kiora Pharmaceuticals
1.9x-40.0%US$9.77m
NONO.F 33.3xIndustry Avg. 19.1xNo. of Companies9PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NONO.F is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the US Pharmaceuticals industry average (19.1x).

Price to Earnings Ratio vs Fair Ratio

What is NONO.F'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.

NONO.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.3x
Fair PE Ratio40.9x

Price-To-Earnings vs Fair Ratio: NONO.F is good value based on its Price-To-Earnings Ratio (33.3x) compared to the estimated Fair Price-To-Earnings Ratio (40.9x).

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 NONO.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$102.20
US$132.39
+29.5%
20.3%US$162.30US$79.03n/a24
Nov ’25US$111.54
US$136.67
+22.5%
20.4%US$166.39US$81.02n/a24
Oct ’25US$118.26
US$141.89
+20.0%
20.3%US$171.75US$83.64n/a25
Sep ’25US$138.74
US$141.22
+1.8%
20.1%US$178.24US$83.18n/a26
Aug ’25US$134.87
US$139.90
+3.7%
18.7%US$173.85US$81.13n/a26
Jul ’25US$143.75
US$137.09
-4.6%
18.3%US$172.78US$80.63n/a26
Jun ’25US$134.16
US$133.20
-0.7%
18.5%US$162.63US$76.96n/a26
May ’25US$126.46
US$128.93
+2.0%
19.4%US$159.70US$75.57n/a25
Apr ’25US$129.20
US$128.80
-0.3%
19.6%US$161.31US$76.34n/a25
Mar ’25US$123.71
US$119.24
-3.6%
16.8%US$142.50US$77.06n/a24
Feb ’25US$115.39
US$112.42
-2.6%
18.5%US$142.92US$65.63n/a23
Jan ’25US$102.50
US$105.57
+3.0%
20.4%US$128.17US$52.73n/a23
Dec ’24US$101.50
US$103.81
+2.3%
20.2%US$127.69US$52.54n/a23
Nov ’24US$96.04
US$96.78
+0.8%
21.1%US$116.82US$50.98US$111.5422
Oct ’24US$91.08
US$91.96
+1.0%
19.7%US$114.82US$51.03US$118.2622
Sep ’24US$93.08
US$89.96
-3.4%
18.1%US$112.76US$52.38US$138.7422
Aug ’24US$79.80
US$88.01
+10.3%
15.8%US$109.43US$54.34US$134.8723
Jul ’24US$80.88
US$84.84
+4.9%
16.2%US$106.22US$52.75US$143.7522
Jun ’24US$79.31
US$82.76
+4.4%
16.8%US$104.44US$51.86US$134.1622
May ’24US$83.25
US$82.24
-1.2%
19.5%US$106.66US$50.02US$126.4622
Apr ’24US$78.70
US$73.72
-6.3%
18.6%US$89.51US$49.09US$129.2022
Mar ’24US$70.75
US$70.18
-0.8%
17.0%US$87.43US$48.73US$123.7123
Feb ’24US$68.79
US$69.44
+1.0%
18.3%US$87.65US$39.44US$115.3923
Jan ’24US$68.26
US$64.14
-6.0%
15.4%US$77.40US$38.52US$102.5023
Dec ’23US$61.79
US$61.74
-0.09%
15.9%US$76.77US$38.21US$101.5024
Nov ’23US$54.31
US$56.99
+4.9%
15.6%US$71.62US$36.15US$96.0425

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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