Novo Nordisk A/S
XMUN:NOV

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Novo Nordisk A/S
XMUN:NOV
Watchlist
Price: 51.8 EUR -3.29%
Market Cap: €175.4B
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Cash Flow Statement

Operating Cash Flow
+
3Y
+80%
5Y
+117%
10Y
+249%
Investing Cash Flow
+
3Y
-303%
5Y
-901%
10Y
-4 181%
Financing Cash Flow
+
3Y
+47%
5Y
+43%
10Y
+29%

Cash Flow Statement
Novo Nordisk A/S

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Cash Flow Statement
Currency: DKK
Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Operating Cash Flow
Net Income
4 833
4 813
4 797
4 895
5 013
5 192
5 604
6 130
5 864
5 843
5 902
5 924
6 452
6 950
8 859
9 269
8 522
8 993
7 812
8 292
9 645
10 164
10 684
10 775
10 768
11 393
13 285
12 780
14 403
15 152
14 403
16 354
17 097
17 688
18 900
20 366
21 432
22 750
24 138
24 886
25 184
25 660
25 920
26 005
26 481
29 899
31 248
33 131
34 860
34 439
36 064
37 484
37 925
38 626
38 609
38 576
38 130
38 725
39 117
38 384
38 628
38 322
37 574
38 731
38 951
40 403
41 433
41 537
42 138
42 864
44 362
46 183
47 757
49 344
50 539
52 825
55 525
61 129
67 239
75 312
83 683
89 276
89 898
94 721
100 988
104 615
111 068
103 773
Depreciation & Amortization
1 581
0
0
0
1 892
0
0
0
1 930
0
0
0
2 142
0
0
0
3 007
0
0
0
2 442
0
3 582
0
2 551
4 272
3 727
4 334
2 467
0
0
2 729
2 737
0
0
0
2 693
0
0
0
2 799
3 456
4 123
0
3 435
4 765
4 746
5 379
2 959
2 920
2 989
3 092
3 193
3 277
3 423
3 393
3 182
3 206
3 111
3 188
3 925
4 251
4 593
5 905
5 661
5 689
5 737
5 772
5 753
6 044
6 103
5 322
6 025
6 298
6 717
7 409
7 362
7 431
7 972
8 456
9 413
10 608
17 276
16 901
19 107
20 023
16 011
21 618
Stock-Based Compensation
0
0
0
0
0
0
0
0
0
0
0
0
113
0
0
0
130
0
0
0
331
0
0
0
259
0
0
0
463
0
0
0
319
0
0
0
308
0
0
0
409
88
176
0
371
0
89
200
442
448
467
468
368
346
317
296
292
310
328
334
414
388
362
368
363
448
533
586
823
842
882
922
1 040
1 111
1 170
1 229
1 539
1 693
1 459
1 204
2 149
1 296
1 736
2 198
2 289
2 374
2 366
2 613
Other Non-Cash Items
2 807
3 203
3 315
3 629
3 334
2 929
2 939
2 931
3 523
5 954
5 959
6 189
3 598
3 916
1 337
2 366
2 124
1 853
4 855
3 750
3 602
3 649
491
3 630
4 095
4 288
7 709
4 335
6 025
6 274
6 144
5 943
6 415
8 236
10 024
10 465
8 547
11 100
8 913
10 088
8 063
5 837
7 608
11 572
11 342
12 814
13 682
9 768
12 005
12 102
10 890
11 705
13 755
16 099
15 412
14 762
12 577
9 771
14 022
14 248
15 085
18 074
17 512
17 733
16 634
20 730
20 813
24 071
18 841
14 068
19 068
20 774
24 332
31 080
28 042
40 103
35 847
49 903
57 540
44 583
53 373
34 849
35 779
54 102
41 232
45 568
40 519
38 710
Cash Taxes Paid
1 804
0
0
0
2 866
0
0
0
2 138
0
0
0
3 514
0
0
0
2 607
0
0
0
3 172
0
0
0
1 998
806
1 782
2 021
3 436
3 586
3 238
3 436
5 391
5 418
6 862
6 860
10 891
10 634
9 205
13 343
9 807
12 353
12 683
8 574
7 907
10 617
10 567
11 034
9 374
4 939
5 556
1 281
2 899
4 880
4 623
8 419
9 101
9 901
9 751
10 087
9 614
9 767
9 224
9 217
10 936
10 957
10 870
11 799
10 106
11 535
12 909
11 971
14 438
13 767
14 859
15 786
14 515
15 934
17 633
19 413
25 897
31 342
30 618
27 754
29 636
20 183
21 968
21 976
Cash Interest Paid
0
0
0
0
0
0
0
0
0
0
0
0
296
0
0
0
324
0
0
0
247
0
0
0
98
5
199
197
252
253
75
86
215
217
212
216
61
62
62
59
39
38
33
31
78
81
90
99
61
74
65
62
66
63
77
91
87
99
91
82
89
99
128
173
204
273
236
238
422
360
391
381
261
263
296
306
272
385
414
437
491
466
446
499
612
1 305
2 347
2 502
Change in Working Capital
(3 072)
(4 272)
(4 095)
(4 334)
(2 650)
(2 431)
(2 458)
(2 561)
(2 605)
(2 337)
(2 738)
(2 375)
(4 454)
(4 810)
(4 470)
(5 929)
(3 666)
(3 347)
(3 690)
(2 892)
(2 826)
(2 314)
(1 124)
(1 848)
(2 036)
(3 352)
(5 168)
(3 092)
(3 216)
(2 756)
(2 311)
(2 728)
(4 875)
(6 808)
(7 188)
(6 842)
(10 458)
(10 153)
(9 222)
(12 890)
(10 104)
(12 012)
(13 868)
(10 613)
(9 566)
(14 425)
(12 774)
(12 809)
(11 537)
(7 805)
(5 764)
(5 001)
(6 559)
(5 065)
(8 887)
(10 442)
(12 721)
(12 817)
(11 712)
(12 584)
(12 610)
(15 544)
(15 307)
(12 928)
(14 464)
(19 918)
(11 857)
(14 436)
(14 781)
(9 782)
(15 345)
(14 090)
(23 114)
(19 391)
(19 261)
(31 568)
(19 847)
(33 348)
(43 020)
(21 893)
(37 561)
(41 325)
(27 619)
(47 506)
(40 359)
(38 961)
(46 071)
(40 317)
Cash from Operating Activities
6 149
N/A
5 325
-13%
5 598
+5%
5 771
+3%
7 589
+32%
7 582
0%
7 977
+5%
8 392
+5%
8 712
+4%
9 460
+9%
9 123
-4%
9 738
+7%
7 738
-21%
8 198
+6%
7 868
-4%
7 848
0%
9 987
+27%
10 506
+5%
11 984
+14%
12 157
+1%
12 863
+6%
13 941
+8%
13 633
-2%
14 999
+10%
15 378
+3%
15 461
+1%
18 413
+19%
18 357
0%
19 679
+7%
20 556
+4%
19 527
-5%
22 298
+14%
21 374
-4%
21 853
+2%
24 473
+12%
24 681
+1%
22 214
-10%
23 697
+7%
23 829
+1%
22 084
-7%
25 942
+17%
22 941
-12%
23 783
+4%
29 763
+25%
31 692
+6%
31 729
+0%
35 578
+12%
35 469
0%
38 287
+8%
41 656
+9%
44 179
+6%
47 280
+7%
48 314
+2%
52 937
+10%
48 557
-8%
46 289
-5%
41 168
-11%
38 885
-6%
44 538
+15%
43 236
-3%
45 028
+4%
45 103
+0%
44 372
-2%
49 441
+11%
46 782
-5%
46 904
+0%
56 126
+20%
56 944
+1%
51 951
-9%
53 194
+2%
54 188
+2%
58 189
+7%
55 000
-5%
67 331
+22%
66 037
-2%
68 769
+4%
78 887
+15%
85 115
+8%
89 731
+5%
106 458
+19%
108 908
+2%
93 408
-14%
115 334
+23%
118 218
+3%
120 968
+2%
131 245
+8%
121 527
-7%
123 784
+2%
Investing Cash Flow
Capital Expenditures
(2 498)
(2 495)
(2 722)
(3 230)
(3 451)
(3 716)
(3 735)
(4 007)
(4 163)
(4 059)
(4 058)
(3 729)
(3 317)
(3 143)
(2 983)
(2 759)
(2 426)
(2 250)
(2 135)
(1 986)
(2 036)
(2 300)
(2 352)
(2 684)
(3 065)
(3 350)
(3 582)
(3 687)
(3 897)
(3 681)
(3 636)
(3 432)
(3 332)
(3 285)
(3 430)
(3 772)
(3 622)
(3 957)
(3 967)
(3 931)
(3 644)
(3 549)
(3 547)
(3 627)
(4 335)
(4 331)
(4 589)
(4 792)
(6 406)
(6 750)
(7 359)
(8 679)
(8 267)
(8 838)
(8 784)
(8 182)
(8 648)
(9 894)
(10 751)
(11 660)
(12 410)
(12 489)
(12 709)
(12 244)
(11 231)
(9 917)
(8 505)
(12 144)
(22 081)
(21 857)
(22 374)
(17 976)
(7 385)
(7 666)
(8 357)
(10 894)
(14 753)
(17 774)
(22 234)
(28 633)
(38 896)
(43 104)
(49 307)
(51 187)
(51 309)
(56 886)
(59 923)
(62 834)
Other Items
(1 321)
(321)
(118)
1 300
1 450
450
146
147
(748)
(240)
(237)
(237)
800
294
293
292
910
910
1 079
1 077
654
668
501
502
19
503
501
538
(1 682)
(1 681)
(1 165)
(1 106)
(127)
(1 418)
(381)
(1 213)
(448)
843
321
62
871
1 585
1 574
2 619
2 271
3 693
3 877
1 812
308
(2 796)
(2 020)
(75)
1 477
2 962
1 959
2 043
2 077
1 441
480
516
330
(43)
(113)
(155)
(278)
(672)
(618)
(601)
(355)
(1 954)
(2 956)
(5 926)
(24 220)
(22 365)
(22 988)
(20 777)
(10 165)
(11 884)
(12 509)
(14 392)
(4 996)
9 815
4 572
(1 209)
(77 586)
(82 638)
(73 118)
(64 728)
Cash from Investing Activities
(3 819)
N/A
(2 816)
+26%
(2 840)
-1%
(1 930)
+32%
(2 001)
-4%
(3 266)
-63%
(3 589)
-10%
(3 860)
-8%
(4 911)
-27%
(4 299)
+12%
(4 295)
+0%
(3 966)
+8%
(2 517)
+37%
(2 849)
-13%
(2 690)
+6%
(2 467)
+8%
(1 516)
+39%
(1 340)
+12%
(1 056)
+21%
(909)
+14%
(1 382)
-52%
(1 632)
-18%
(1 851)
-13%
(2 182)
-18%
(3 046)
-40%
(2 847)
+7%
(3 081)
-8%
(3 149)
-2%
(5 579)
-77%
(5 362)
+4%
(4 801)
+10%
(4 538)
+5%
(3 459)
+24%
(4 703)
-36%
(3 811)
+19%
(4 985)
-31%
(4 070)
+18%
(3 114)
+23%
(3 646)
-17%
(3 869)
-6%
(2 773)
+28%
(1 964)
+29%
(1 973)
0%
(1 008)
+49%
(2 064)
-105%
(638)
+69%
(712)
-12%
(2 980)
-319%
(6 098)
-105%
(9 546)
-57%
(9 379)
+2%
(8 754)
+7%
(6 790)
+22%
(5 876)
+13%
(6 825)
-16%
(6 139)
+10%
(6 571)
-7%
(8 453)
-29%
(10 271)
-22%
(11 144)
-8%
(12 080)
-8%
(12 532)
-4%
(12 822)
-2%
(12 399)
+3%
(11 509)
+7%
(10 589)
+8%
(9 123)
+14%
(12 745)
-40%
(22 436)
-76%
(23 811)
-6%
(25 330)
-6%
(23 902)
+6%
(31 605)
-32%
(30 031)
+5%
(31 345)
-4%
(31 671)
-1%
(24 918)
+21%
(29 658)
-19%
(34 743)
-17%
(43 025)
-24%
(43 892)
-2%
(33 289)
+24%
(44 735)
-34%
(52 396)
-17%
(128 895)
-146%
(139 524)
-8%
(133 041)
+5%
(127 562)
+4%
Financing Cash Flow
Net Issuance of Common Stock
(1 604)
0
0
0
(1 895)
0
0
0
(2 812)
0
0
0
(2 790)
0
0
0
(4 594)
0
0
0
(4 422)
0
(6 638)
0
(6 395)
(9 751)
(9 545)
(13 716)
(8 820)
(8 968)
(8 943)
(9 642)
(10 595)
(12 135)
(16 031)
(13 142)
(11 896)
(11 933)
(11 260)
(12 111)
(13 924)
(14 471)
(12 692)
(13 814)
(14 667)
(15 054)
(15 585)
(16 621)
(17 196)
(17 152)
(16 800)
(15 409)
(15 057)
(15 547)
(15 699)
(16 338)
(16 845)
(16 934)
(16 590)
(15 923)
(15 567)
(14 182)
(15 346)
(14 650)
(15 334)
(15 075)
(16 016)
(16 125)
(16 855)
(17 125)
(17 044)
(17 595)
(19 447)
(20 964)
(22 974)
(24 059)
(24 086)
(24 808)
(26 181)
(27 702)
(29 924)
(27 561)
(26 187)
(22 451)
(20 181)
(18 733)
(11 284)
(8 879)
Net Issuance of Debt
453
0
0
0
(69)
0
0
0
(29)
0
0
0
(23)
0
0
0
(18)
0
0
0
(153)
0
0
0
0
0
0
0
0
0
0
0
(507)
0
0
0
(502)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
94
(263)
(339)
(376)
(741)
(804)
(736)
(839)
4 732
4 803
8 745
8 710
15 471
14 115
9 937
9 782
(2 408)
(1 181)
(1 310)
(1 241)
(1 467)
(1 306)
28 527
28 375
73 056
88 704
39 622
39 602
Cash Paid for Dividends
(1 243)
0
0
0
(1 488)
0
0
0
(1 594)
0
0
0
(1 945)
0
0
0
(2 221)
0
0
0
(2 795)
0
(6 445)
0
(3 650)
(11 700)
(8 050)
(8 050)
(4 400)
(5 700)
(5 700)
(5 700)
(5 700)
(7 742)
(7 742)
(7 742)
(7 742)
(9 715)
(9 715)
(9 715)
(9 715)
(11 866)
(11 866)
(11 866)
(11 866)
(12 905)
(12 905)
(12 905)
(12 905)
(16 230)
(16 230)
(23 830)
(23 830)
(19 048)
(19 048)
(18 844)
(18 844)
(19 206)
(19 206)
(19 048)
(19 048)
(19 547)
(19 547)
(19 409)
(19 409)
(19 651)
(19 651)
(20 121)
(20 121)
(21 065)
(21 066)
(21 517)
(21 517)
(23 712)
(23 711)
(25 303)
(25 303)
(27 950)
(27 950)
(31 767)
(31 767)
(41 987)
(41 987)
(44 140)
(44 140)
(50 857)
(50 683)
(51 763)
Other
0
(1 578)
(2 339)
(2 838)
0
(3 140)
(3 855)
(4 164)
0
(4 913)
(3 679)
(5 108)
0
(4 662)
(4 498)
(4 746)
0
(6 006)
(6 855)
(6 172)
0
(7 289)
0
(13 003)
0
0
0
0
0
0
0
0
0
1 328
0
0
0
1 721
0
0
0
2 102
0
0
0
2 340
0
0
0
2 811
0
0
0
1 968
0
0
0
2 007
0
0
0
2 090
0
0
0
2 152
0
0
0
2 329
0
0
0
2 737
0
0
0
3 393
0
0
0
5 328
0
0
0
26 782
0
0
Cash from Financing Activities
(2 394)
N/A
(2 075)
+13%
(2 836)
-37%
(3 335)
-18%
(3 452)
-4%
(3 754)
-9%
(4 469)
-19%
(4 778)
-7%
(4 435)
+7%
(4 913)
-11%
(3 679)
+25%
(5 108)
-39%
(4 758)
+7%
(4 583)
+4%
(4 419)
+4%
(4 667)
-6%
(6 833)
-46%
(8 093)
-18%
(8 942)
-10%
(8 259)
+8%
(7 370)
+11%
(8 487)
-15%
(9 003)
-6%
(9 713)
-8%
(10 045)
-3%
(11 097)
-10%
(11 729)
-6%
(13 251)
-13%
(13 220)
+0%
(14 668)
-11%
(14 643)
+0%
(15 342)
-5%
(16 802)
-10%
(19 056)
-13%
(24 280)
-27%
(21 391)
+12%
(20 140)
+6%
(21 757)
-8%
(21 477)
+1%
(22 328)
-4%
(23 639)
-6%
(25 956)
-10%
(24 558)
+5%
(25 680)
-5%
(26 533)
-3%
(27 721)
-4%
(28 490)
-3%
(29 526)
-4%
(30 101)
-2%
(32 911)
-9%
(33 030)
0%
(39 239)
-19%
(38 887)
+1%
(35 438)
+9%
(34 747)
+2%
(35 182)
-1%
(35 689)
-1%
(36 101)
-1%
(35 796)
+1%
(34 971)
+2%
(34 521)
+1%
(33 909)
+2%
(35 232)
-4%
(34 435)
+2%
(35 484)
-3%
(35 468)
+0%
(36 403)
-3%
(37 085)
-2%
(32 244)
+13%
(33 210)
-3%
(29 365)
+12%
(30 402)
-4%
(25 493)
+16%
(30 153)
-18%
(36 748)
-22%
(39 580)
-8%
(51 797)
-31%
(53 283)
-3%
(55 441)
-4%
(60 710)
-10%
(63 158)
-4%
(68 919)
-9%
(39 647)
+42%
(38 216)
+4%
8 735
N/A
40 568
+364%
(22 345)
N/A
(21 040)
+6%
Change in Cash
Effect of Foreign Exchange Rates
(14)
2
(19)
(28)
(14)
112
163
162
154
20
(32)
(16)
39
38
45
54
(6)
(24)
27
(9)
(2)
31
7
23
21
(69)
78
36
46
59
(70)
(17)
(16)
48
34
34
(8)
8
(33)
(24)
(70)
(69)
(11)
(13)
68
184
129
71
86
(177)
(109)
(60)
(26)
115
(102)
(176)
(211)
(196)
32
70
44
99
(19)
85
(7)
(180)
(195)
(405)
(456)
(207)
(117)
140
591
382
585
906
(238)
(446)
(729)
(754)
(119)
188
295
(471)
455
325
(527)
(116)
Net Change in Cash
(78)
N/A
436
N/A
(97)
N/A
478
N/A
2 122
+344%
674
-68%
82
-88%
(84)
N/A
(480)
-471%
268
N/A
1 117
+317%
648
-42%
502
-23%
804
+60%
804
N/A
768
-4%
1 632
+113%
1 049
-36%
2 013
+92%
2 980
+48%
4 109
+38%
3 853
-6%
2 786
-28%
3 127
+12%
2 308
-26%
1 448
-37%
3 681
+154%
1 993
-46%
926
-54%
585
-37%
13
-98%
2 401
+18 369%
1 097
-54%
(1 858)
N/A
(3 584)
-93%
(1 661)
+54%
(2 004)
-21%
(1 166)
+42%
(1 327)
-14%
(4 137)
-212%
(540)
+87%
(5 048)
-835%
(2 759)
+45%
3 062
N/A
3 163
+3%
3 554
+12%
6 505
+83%
3 034
-53%
2 174
-28%
(978)
N/A
1 661
N/A
(773)
N/A
2 611
N/A
11 738
+350%
6 883
-41%
4 792
-30%
(1 303)
N/A
(5 865)
-350%
(1 497)
+74%
(2 809)
-88%
(1 529)
+46%
(1 239)
+19%
(3 701)
-199%
2 692
N/A
(218)
N/A
667
N/A
10 405
+1 460%
6 709
-36%
(3 185)
N/A
(4 034)
-27%
(624)
+85%
4 025
N/A
(1 507)
N/A
7 529
N/A
(1 471)
N/A
(1 576)
-7%
1 934
N/A
1 728
-11%
(1 182)
N/A
1 969
N/A
1 739
-12%
(8 612)
N/A
31 247
N/A
27 135
-13%
1 263
-95%
32 614
+2 482%
(34 386)
N/A
(24 934)
+27%
Free Cash Flow
Free Cash Flow
3 651
N/A
2 830
-22%
2 876
+2%
2 541
-12%
4 138
+63%
3 866
-7%
4 242
+10%
4 385
+3%
4 549
+4%
5 401
+19%
5 065
-6%
6 009
+19%
4 421
-26%
5 055
+14%
4 885
-3%
5 089
+4%
7 561
+49%
8 256
+9%
9 849
+19%
10 171
+3%
10 827
+6%
11 641
+8%
11 281
-3%
12 315
+9%
12 313
0%
12 111
-2%
14 831
+22%
14 670
-1%
15 782
+8%
16 875
+7%
15 891
-6%
18 866
+19%
18 042
-4%
18 568
+3%
21 043
+13%
20 909
-1%
18 592
-11%
19 740
+6%
19 862
+1%
18 153
-9%
22 298
+23%
19 392
-13%
20 236
+4%
26 136
+29%
27 357
+5%
27 398
+0%
30 989
+13%
30 677
-1%
31 881
+4%
34 906
+9%
36 820
+5%
38 601
+5%
40 047
+4%
44 099
+10%
39 773
-10%
38 107
-4%
32 520
-15%
28 991
-11%
33 787
+17%
31 576
-7%
32 618
+3%
32 614
0%
31 663
-3%
37 197
+17%
35 551
-4%
36 987
+4%
47 621
+29%
44 800
-6%
29 870
-33%
31 337
+5%
31 814
+2%
40 213
+26%
47 615
+18%
59 665
+25%
57 680
-3%
57 875
+0%
64 134
+11%
67 341
+5%
67 497
+0%
77 825
+15%
70 012
-10%
50 304
-28%
66 027
+31%
67 031
+2%
69 659
+4%
74 359
+7%
61 604
-17%
60 950
-1%

See Also

Summary
NOV intrinsic value, competitors valuation, and company profile.
DCF Valuation
NOV stock valuation using Discount Cash Flow valuation method.
Relative Valuation
NOV stock valuation using valuation multiples.
Wall Street Estimates
NOV price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
NOV stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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