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

NYSE:NVO • US6701002056

39.63 USD
-7.79 (-16.43%)
At close: Feb 23, 2026
39.7497 USD
+0.12 (+0.3%)
After Hours: 2/23/2026, 4:29:03 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Taking everything into account, NVO scores 6 out of 10 in our fundamental rating. NVO was compared to 192 industry peers in the Pharmaceuticals industry. While NVO has a great profitability rating, there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on NVO. NVO also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year NVO was profitable.
  • NVO had a positive operating cash flow in the past year.
  • NVO had positive earnings in each of the past 5 years.
  • In the past 5 years NVO always reported a positive cash flow from operatings.
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

  • With an excellent Return On Assets value of 18.87%, NVO belongs to the best of the industry, outperforming 96.88% of the companies in the same industry.
  • NVO's Return On Equity of 52.79% is amongst the best of the industry. NVO outperforms 98.44% of its industry peers.
  • NVO has a better Return On Invested Capital (30.79%) than 98.44% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NVO is significantly above the industry average of 12.95%.
  • 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 has a better Profit Margin (33.14%) than 96.35% of its industry peers.
  • In the last couple of years the Profit Margin of NVO has remained more or less at the same level.
  • NVO has a better Operating Margin (41.30%) than 97.40% of its industry peers.
  • 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 85.42% 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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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so NVO is creating value.
  • Compared to 1 year ago, NVO has about the same amount of shares outstanding.
  • NVO has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, NVO has a worse debt to assets ratio.
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

  • NVO has an Altman-Z score of 4.05. This indicates that NVO is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 4.05, NVO is in the better half of the industry, outperforming 71.35% of the companies in the same industry.
  • 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.
  • NVO has a Debt to FCF ratio of 4.52. This is amongst the best in the industry. NVO outperforms 84.90% of its industry peers.
  • A Debt/Equity ratio of 0.61 indicates that NVO is somewhat dependend on debt financing.
  • The Debt to Equity ratio of NVO (0.61) is worse than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Altman-Z 4.05
ROIC/WACC4.52
WACC6.81%
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.
  • NVO's Current ratio of 0.80 is on the low side compared to the rest of the industry. NVO is outperformed by 88.02% of its industry peers.
  • NVO has a Quick 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.
  • The Quick ratio of NVO (0.57) is worse than 86.98% 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

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.
  • The Revenue has been growing by 19.48% on average over the past years. This is quite good.
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

  • Based on estimates for the next years, NVO will show a small growth in Earnings Per Share. The EPS will grow by 3.45% on average per year.
  • NVO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.58% yearly.
EPS Next Y-1.09%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
EPS Next 5Y3.45%
Revenue Next Year-3.91%
Revenue Next 2Y0.15%
Revenue Next 3Y2.35%
Revenue Next 5Y3.58%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 5 10 15 20 25

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 10.92, the valuation of NVO can be described as very reasonable.
  • NVO's Price/Earnings ratio is rather cheap when compared to the industry. NVO is cheaper than 89.06% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.99. NVO is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 11.03 indicates a reasonable valuation of NVO.
  • 85.94% of the companies in the same industry are more expensive than NVO, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.02, NVO is valued rather cheaply.
Industry RankSector Rank
PE 10.92
Fwd PE 11.03
NVO Price Earnings VS Forward Price EarningsNVO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NVO is valued cheaper than 90.10% 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 77.60% of the companies in the same industry.
Industry RankSector Rank
P/FCF 38.6
EV/EBITDA 9.64
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)0.53
EPS Next 2Y2.5%
EPS Next 3Y7.19%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • NVO has a Yearly Dividend Yield of 3.81%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.07, NVO pays a better dividend. On top of this NVO pays more dividend than 96.35% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, NVO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.81%

5.2 History

  • The dividend of NVO is nicely growing with an annual growth rate of 19.05%!
  • NVO has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NVO has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
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.
  • NVO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP50.53%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
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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NOVO-NORDISK A/S-SPONS ADR

NYSE:NVO (2/23/2026, 4:29:03 PM)

After market: 39.7497 +0.12 (+0.3%)

39.63

-7.79 (-16.43%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)02-03
Earnings (Next)05-06
Inst Owners33.25%
Inst Owner Change3.15%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap176.22B
Revenue(TTM)309.06B
Net Income(TTM)102.43B
Analysts71.76
Price Target63.76 (60.89%)
Short Float %0.76%
Short Ratio1.47
Dividend
Industry RankSector Rank
Dividend Yield 3.81%
Yearly Dividend1.84
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)1.84%
PT rev (3m)-4.57%
EPS NQ rev (1m)-4.83%
EPS NQ rev (3m)-16.44%
EPS NY rev (1m)0.05%
EPS NY rev (3m)-11.12%
Revenue NQ rev (1m)-38.52%
Revenue NQ rev (3m)-52.61%
Revenue NY rev (1m)-4.16%
Revenue NY rev (3m)-10.69%
Valuation
Industry RankSector Rank
PE 10.92
Fwd PE 11.03
P/S 3.62
P/FCF 38.6
P/OCF 9.39
P/B 5.77
P/tB 17.49
EV/EBITDA 9.64
EPS(TTM)3.63
EY9.16%
EPS(NY)3.59
Fwd EY9.06%
FCF(TTM)1.03
FCFY2.59%
OCF(TTM)4.22
OCFY10.64%
SpS10.95
BVpS6.87
TBVpS2.27
PEG (NY)N/A
PEG (5Y)0.53
Graham Number23.69
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 4.05
F-Score5
WACC6.81%
ROIC/WACC4.52
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-1.09%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
EPS Next 5Y3.45%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%
Revenue Next Year-3.91%
Revenue Next 2Y0.15%
Revenue Next 3Y2.35%
Revenue Next 5Y3.58%
EBIT growth 1Y-4.76%
EBIT growth 3Y19.04%
EBIT growth 5Y18.51%
EBIT Next Year13.84%
EBIT Next 3Y11.7%
EBIT Next 5Y6.93%
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 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 6 / 10 to NOVO-NORDISK A/S-SPONS ADR (NVO). This can be considered as Fairly Valued.


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 10.92 and the Price/Book (PB) ratio is 5.77.


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.