Novo Nordisk A S (NONOF) cash flow statement

NONOFOTCPharmaceutical PreparationsFiscal year ends December 31Also trades as NVO

Financials through fiscal 2025, year ended Dec 31, 2025Score 4/30

$38.24−0.60 (-1.53%)

Close on Oct 19, 2026Market cap $170.76BP/E 11.1Yield –

Novo Nordisk A S cash flow statement

AnnualQuarterlyTTM

DKK USD

Millions of DKK, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31
Depreciation & Amortization	14,666	8,545	7,289	6,553	–	–	–	–	–	–	–
Stock-Based Compensation	1,435	2,289	2,149	1,539	1,040	823	363	414	292	368	442
Change in Accounts Receivable	1,093	-7,179	-14,210	-9,917	-12,909	-2,822	-2,126	-2,621	69	-4,749	-2,444
Change in Inventory	-8,774	-9,038	-7,423	-4,767	-1,085	-895	-1,305	-963	-1,032	-1,583	-1,401
Change in Accounts Payable	2,618	5,011	7,529	6,717	3,153	-641	-398	1,146	-401	1,084	-23
Operating Cash Flow	119,102	120,968	108,908	78,887	55,000	51,951	46,782	44,616	41,168	48,314	38,287
Capital Expenditures	-60,140	-47,164	-25,806	-12,146	-6,335	-5,825	-8,932	-9,636	-7,626	-7,068	-5,224
Acquisitions	0	-82,163	0	-7,075	-18,283	0	0	–	–	–	–
Sale of Property, Plant & Equipment	–	–	–	0	0	7.00	4.00	13	9.00	7.00	15
Investing Cash Flow	-79,158	-128,895	-43,892	-24,918	-31,605	-22,436	-11,509	-12,080	-6,571	-6,790	-6,098
Dividends Paid	-51,763	-44,140	-31,767	-25,303	-21,517	-20,121	-19,409	-19,048	-18,844	-23,830	-12,905
Share Repurchases	-1,388	-20,181	-29,924	-24,086	-19,447	-16,855	-15,334	-15,567	-16,845	-15,057	-17,196
Debt Issued	103,931	79,391	0	11,215	22,160	5,682	81	94	0	0	–
Debt Repaid	-79,188	-6,335	-1,467	-13,623	-6,689	-950	-822	0	0	–	–
Financing Cash Flow	-28,408	8,735	-63,158	-51,797	-25,493	-32,244	-35,484	-34,521	-35,689	-38,887	-30,101
Foreign Exchange Rate Adjustments	-727	455	-119	-238	591	-456	-7.00	44	-211	-26	86
Free Cash Flow	58,962	73,804	83,102	66,741	48,665	46,126	37,850	34,980	33,542	41,246	33,063
Income Taxes Paid	32,014	29,636	25,897	14,515	14,438	10,106	10,936	9,614	9,101	2,899	9,374

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 81.0%
Operating margin: 41.3%
Net margin: –
Return on equity, FY2025: –

Financial strength

Current ratio: 0.80
Debt to equity: –
Debt to assets: 26.3%
Cash to current liabilities: 12.3%

Valuation

P/E ratio: 11.1
Price to sales: 3.70
Price to book: –
Dividend yield: –

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