NOVO-NORDISK A/S-SPONS ADR (NVO) Fundamental Analysis & Valuation

NYSE:NVO • US6701002056

Current stock price

36.33 USD
-0.56 (-1.52%)
At close:
36.5 USD
+0.17 (+0.47%)
After Hours:

This NVO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. NVO Profitability Analysis

1.1 Basic Checks

  • In the past year NVO was profitable.
  • In the past year NVO had a positive cash flow from operations.
  • Each year in the past 5 years NVO has been profitable.
  • Each year in the past 5 years NVO had a positive operating cash flow.
NVO Yearly Net Income VS EBIT VS OCF VS FCFNVO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

1.2 Ratios

  • NVO's Return On Assets of 18.87% is amongst the best of the industry. NVO outperforms 96.89% of its industry peers.
  • NVO has a Return On Equity of 52.79%. This is amongst the best in the industry. NVO outperforms 98.45% of its industry peers.
  • NVO has a Return On Invested Capital of 30.79%. This is amongst the best in the industry. NVO outperforms 98.45% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NVO is significantly above the industry average of 13.06%.
  • The last Return On Invested Capital (30.79%) for NVO is well below the 3 year average (43.61%), which needs to be investigated, but indicates that NVO had better years and this may not be a problem.
Industry RankSector Rank
ROA 18.87%
ROE 52.79%
ROIC 30.79%
ROA(3y)22.39%
ROA(5y)22.95%
ROE(3y)67.23%
ROE(5y)67.14%
ROIC(3y)43.61%
ROIC(5y)44.74%
NVO Yearly ROA, ROE, ROICNVO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

1.3 Margins

  • NVO's Profit Margin of 33.14% is amongst the best of the industry. NVO outperforms 95.85% of its industry peers.
  • In the last couple of years the Profit Margin of NVO has remained more or less at the same level.
  • With an excellent Operating Margin value of 41.30%, NVO belongs to the best of the industry, outperforming 98.45% of the companies in the same industry.
  • NVO's Operating Margin has been stable in the last couple of years.
  • Looking at the Gross Margin, with a value of 80.98%, NVO belongs to the top of the industry, outperforming 85.49% of the companies in the same industry.
  • In the last couple of years the Gross Margin of NVO has remained more or less at the same level.
Industry RankSector Rank
OM 41.3%
PM (TTM) 33.14%
GM 80.98%
OM growth 3Y-1.15%
OM growth 5Y-0.81%
PM growth 3Y1.84%
PM growth 5Y-0.03%
GM growth 3Y-1.18%
GM growth 5Y-0.61%
NVO Yearly Profit, Operating, Gross MarginsNVO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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4

2. NVO Health Analysis

2.1 Basic Checks

  • NVO has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • NVO has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for NVO has been increased compared to 5 years ago.
  • NVO has a worse debt/assets ratio than last year.
NVO Yearly Shares OutstandingNVO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B
NVO Yearly Total Debt VS Total AssetsNVO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100B 200B 300B 400B 500B

2.2 Solvency

  • An Altman-Z score of 3.57 indicates that NVO is not in any danger for bankruptcy at the moment.
  • NVO has a better Altman-Z score (3.57) than 72.54% of its industry peers.
  • The Debt to FCF ratio of NVO is 4.52, which is a neutral value as it means it would take NVO, 4.52 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.52, NVO belongs to the top of the industry, outperforming 84.46% of the companies in the same industry.
  • A Debt/Equity ratio of 0.61 indicates that NVO is somewhat dependend on debt financing.
  • NVO has a worse Debt to Equity ratio (0.61) than 65.28% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Altman-Z 3.57
ROIC/WACC4.54
WACC6.78%
NVO Yearly LT Debt VS Equity VS FCFNVO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

2.3 Liquidity

  • NVO has a Current Ratio of 0.80. This is a bad value and indicates that NVO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.80, NVO is not doing good in the industry: 87.05% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.57 indicates that NVO may have some problems paying its short term obligations.
  • NVO has a worse Quick ratio (0.57) than 86.01% of its industry peers.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.57
NVO Yearly Current Assets VS Current LiabilitesNVO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B 200B

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4

3. NVO Growth Analysis

3.1 Past

  • NVO shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.77%.
  • The Earnings Per Share has been growing by 20.66% on average over the past years. This is a very strong growth
  • Looking at the last year, NVO shows a small growth in Revenue. The Revenue has grown by 6.43% in the last year.
  • NVO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.48% yearly.
EPS 1Y (TTM)1.77%
EPS 3Y23.52%
EPS 5Y20.66%
EPS Q2Q%-4.73%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%

3.2 Future

  • NVO is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.80% yearly.
  • Based on estimates for the next years, NVO will show a small growth in Revenue. The Revenue will grow by 4.07% on average per year.
EPS Next Y-3.96%
EPS Next 2Y-2.8%
EPS Next 3Y1.16%
EPS Next 5Y5.8%
Revenue Next Year-4.65%
Revenue Next 2Y-0.75%
Revenue Next 3Y1.62%
Revenue Next 5Y4.07%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NVO Yearly Revenue VS EstimatesNVO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 100B 200B 300B
NVO Yearly EPS VS EstimatesNVO Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10 20 30

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7

4. NVO Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.18, the valuation of NVO can be described as reasonable.
  • Based on the Price/Earnings ratio, NVO is valued cheaper than 89.12% of the companies in the same industry.
  • NVO is valuated cheaply when we compare the Price/Earnings ratio to 25.61, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 10.59, which indicates a very decent valuation of NVO.
  • Based on the Price/Forward Earnings ratio, NVO is valued cheaper than 86.01% of the companies in the same industry.
  • NVO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.79.
Industry RankSector Rank
PE 10.18
Fwd PE 10.59
NVO Price Earnings VS Forward Price EarningsNVO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • NVO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. NVO is cheaper than 91.19% of the companies in the same industry.
  • NVO's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NVO is cheaper than 78.76% of the companies in the same industry.
Industry RankSector Rank
P/FCF 35.96
EV/EBITDA 7.77
NVO Per share dataNVO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The excellent profitability rating of NVO may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.49
EPS Next 2Y-2.8%
EPS Next 3Y1.16%

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8

5. NVO Dividend Analysis

5.1 Amount

  • NVO has a Yearly Dividend Yield of 4.92%, which is a nice return.
  • The stock price of NVO dropped by -30.67% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • Compared to an average industry Dividend Yield of 0.79, NVO pays a better dividend. On top of this NVO pays more dividend than 96.89% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, NVO pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.92%

5.2 History

  • On average, the dividend of NVO grows each year by 19.05%, which is quite nice.
  • NVO has been paying a dividend for at least 10 years, so it has a reliable track record.
  • As NVO did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)19.05%
Div Incr Years7
Div Non Decr Years7
NVO Yearly Dividends per shareNVO Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • 50.53% of the earnings are spent on dividend by NVO. This is a bit on the high side, but may be sustainable.
  • The dividend of NVO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP50.53%
EPS Next 2Y-2.8%
EPS Next 3Y1.16%
NVO Yearly Income VS Free CF VS DividendNVO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B
NVO Dividend Payout.NVO Dividend Payout, showing the Payout Ratio.NVO Dividend Payout.PayoutRetained Earnings

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NVO Fundamentals: All Metrics, Ratios and Statistics

NOVO-NORDISK A/S-SPONS ADR

NYSE:NVO (3/25/2026, 8:04:00 PM)

After market: 36.5 +0.17 (+0.47%)

36.33

-0.56 (-1.52%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)02-03
Earnings (Next)05-06
Inst Owners32.22%
Inst Owner Change3.18%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap161.48B
Revenue(TTM)309.06B
Net Income(TTM)102.43B
Analysts69.41
Price Target57.95 (59.51%)
Short Float %0.68%
Short Ratio1.11
Dividend
Industry RankSector Rank
Dividend Yield 4.92%
Yearly Dividend1.81
Dividend Growth(5Y)19.05%
DP50.53%
Div Incr Years7
Div Non Decr Years7
Ex-Date03-30
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.82%
Min EPS beat(2)-7.04%
Max EPS beat(2)1.39%
EPS beat(4)2
Avg EPS beat(4)-0.71%
Min EPS beat(4)-7.04%
Max EPS beat(4)3.94%
EPS beat(8)5
Avg EPS beat(8)1.01%
EPS beat(12)8
Avg EPS beat(12)1.47%
EPS beat(16)11
Avg EPS beat(16)1.68%
Revenue beat(2)1
Avg Revenue beat(2)-1.06%
Min Revenue beat(2)-3.19%
Max Revenue beat(2)1.07%
Revenue beat(4)1
Avg Revenue beat(4)-0.92%
Min Revenue beat(4)-3.19%
Max Revenue beat(4)1.07%
Revenue beat(8)3
Avg Revenue beat(8)0.15%
Revenue beat(12)6
Avg Revenue beat(12)0.52%
Revenue beat(16)9
Avg Revenue beat(16)0.84%
PT rev (1m)-9.11%
PT rev (3m)-11.49%
EPS NQ rev (1m)12.4%
EPS NQ rev (3m)0.88%
EPS NY rev (1m)-2.86%
EPS NY rev (3m)-7.3%
Revenue NQ rev (1m)1.33%
Revenue NQ rev (3m)-50.96%
Revenue NY rev (1m)-0.77%
Revenue NY rev (3m)-6.85%
Valuation
Industry RankSector Rank
PE 10.18
Fwd PE 10.59
P/S 3.37
P/FCF 35.96
P/OCF 8.75
P/B 5.37
P/tB 16.29
EV/EBITDA 7.77
EPS(TTM)3.57
EY9.83%
EPS(NY)3.43
Fwd EY9.45%
FCF(TTM)1.01
FCFY2.78%
OCF(TTM)4.15
OCFY11.42%
SpS10.77
BVpS6.76
TBVpS2.23
PEG (NY)N/A
PEG (5Y)0.49
Graham Number23.31
Profitability
Industry RankSector Rank
ROA 18.87%
ROE 52.79%
ROCE 39.01%
ROIC 30.79%
ROICexc 33.56%
ROICexgc 59.2%
OM 41.3%
PM (TTM) 33.14%
GM 80.98%
FCFM 9.38%
ROA(3y)22.39%
ROA(5y)22.95%
ROE(3y)67.23%
ROE(5y)67.14%
ROIC(3y)43.61%
ROIC(5y)44.74%
ROICexc(3y)50.94%
ROICexc(5y)53.03%
ROICexgc(3y)100.46%
ROICexgc(5y)105.49%
ROCE(3y)55.75%
ROCE(5y)58.53%
ROICexgc growth 3Y-22.89%
ROICexgc growth 5Y-7.78%
ROICexc growth 3Y-18.13%
ROICexc growth 5Y-11.63%
OM growth 3Y-1.15%
OM growth 5Y-0.81%
PM growth 3Y1.84%
PM growth 5Y-0.03%
GM growth 3Y-1.18%
GM growth 5Y-0.61%
F-Score5
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Debt/EBITDA 0.79
Cap/Depr 409.94%
Cap/Sales 29.16%
Interest Coverage 37.34
Cash Conversion 79.59%
Profit Quality 28.3%
Current Ratio 0.8
Quick Ratio 0.57
Altman-Z 3.57
F-Score5
WACC6.78%
ROIC/WACC4.54
Cap/Depr(3y)363.9%
Cap/Depr(5y)282.93%
Cap/Sales(3y)21.19%
Cap/Sales(5y)15.43%
Profit Quality(3y)60.31%
Profit Quality(5y)79.23%
High Growth Momentum
Growth
EPS 1Y (TTM)1.77%
EPS 3Y23.52%
EPS 5Y20.66%
EPS Q2Q%-4.73%
EPS Next Y-3.96%
EPS Next 2Y-2.8%
EPS Next 3Y1.16%
EPS Next 5Y5.8%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%
Revenue Next Year-4.65%
Revenue Next 2Y-0.75%
Revenue Next 3Y1.62%
Revenue Next 5Y4.07%
EBIT growth 1Y-4.76%
EBIT growth 3Y19.04%
EBIT growth 5Y18.51%
EBIT Next Year8.51%
EBIT Next 3Y5.92%
EBIT Next 5Y7.75%
FCF growth 1Y-58.38%
FCF growth 3Y-23.26%
FCF growth 5Y-0.6%
OCF growth 1Y-1.54%
OCF growth 3Y14.72%
OCF growth 5Y18.05%

NOVO-NORDISK A/S-SPONS ADR / NVO Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for NOVO-NORDISK A/S-SPONS ADR?

ChartMill assigns a fundamental rating of 6 / 10 to NVO.


What is the valuation status of NOVO-NORDISK A/S-SPONS ADR (NVO) stock?

ChartMill assigns a valuation rating of 7 / 10 to NOVO-NORDISK A/S-SPONS ADR (NVO). This can be considered as Undervalued.


Can you provide the profitability details for NOVO-NORDISK A/S-SPONS ADR?

NOVO-NORDISK A/S-SPONS ADR (NVO) has a profitability rating of 9 / 10.


Can you provide the PE and PB ratios for NVO stock?

The Price/Earnings (PE) ratio for NOVO-NORDISK A/S-SPONS ADR (NVO) is 10.18 and the Price/Book (PB) ratio is 5.37.


What is the financial health of NOVO-NORDISK A/S-SPONS ADR (NVO) stock?

The financial health rating of NOVO-NORDISK A/S-SPONS ADR (NVO) is 4 / 10.