Novo Nordisk A/S

OTCPK:NONO.F Stock Report

Market Cap: US$474.2b

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 ($105.12) is trading below our estimate of fair value ($150.94)

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 Ratio36x
EarningsDKK 94.72b
Market CapDKK 3.41t

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 Average40.2x
LLY Eli Lilly
82.3x29.8%US$701.1b
JNJ Johnson & Johnson
23.6x10.6%US$352.5b
MRK Merck
20.5x16.0%US$253.1b
PFE Pfizer
34.3x14.8%US$149.8b
NONO.F Novo Nordisk
36x14.3%US$3.4t

Price-To-Earnings vs Peers: NONO.F is good value based on its Price-To-Earnings Ratio (36x) compared to the peer average (40.2x).

Price to Earnings Ratio vs Industry

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

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
OGN Organon
2.9x-8.3%US$3.80b
NDOI Endo
0.5xn/aUS$1.83b
KPRX Kiora Pharmaceuticals
1.8x-40.4%US$10.47m
EDXC Endexx
0.8xn/aUS$4.88m
NONO.F 36.0xIndustry Avg. 17.3xNo. of Companies10PE01224364860+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NONO.F is expensive based on its Price-To-Earnings Ratio (36x) compared to the US Pharmaceuticals industry average (18.6x).

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 Ratio36x
Fair PE Ratio41.2x

Price-To-Earnings vs Fair Ratio: NONO.F is good value based on its Price-To-Earnings Ratio (36x) compared to the estimated Fair Price-To-Earnings Ratio (41.2x).

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$105.12
US$131.27
+24.9%
20.3%US$159.75US$77.79n/a24
Dec ’25US$106.83
US$130.98
+22.6%
20.3%US$160.58US$78.19n/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$52.54US$106.8323
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

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 04:16
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Novo Nordisk A/S is covered by 71 analysts. 25 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