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NVO · Medicine & biotech · Denmark

Novo Nordisk

Makes Ozempic and Wegovy, plus insulin for diabetes.

Company Health

91
/100
Very healthy
A quick check of the business from its yearly reports (2022–2025). It doesn’t say whether the stock is a good buy.
Does it make money?
25 of 25 · Good
DKK 33 of every DKK 100 in sales was left as profit last year.
Is it growing?
23 of 25 · Good
Sales grew about 20% a year over the last 3 years.
Can it handle what it owes?
20 of 25 · Good
It would take about 3 years of the cash its business brings in to pay off everything it owes.
Does it bring in spare cash?
23 of 25 · Good
After paying for buildings and equipment, DKK 19 of every DKK 100 in sales was left as spare cash.

Who owns it

None of the 23 funds we follow reported owning Novo Nordisk in their latest reports. Giverny Capital sold all their shares in their latest report.
bought lately
owns it
doesn’t own it
Didn’t report owning it: Whale Rock, Appaloosa, Melqart, Coatue, D1 Capital, Light Street, Lone Pine, Third Point, TCI, Pershing Square, Duquesne, Himalaya Capital, Greenlight, Giverny Capital, Fundsmith, Semper Augustus, Akre
Their letters don’t mention it: Arquitos, Laughing Water, Alluvial, Bireme, Kingdom Capital, Saga Partners
From each fund’s latest 13F report (Jun 30, 2026). Funds that don’t file one: from their own letters.

The numbers

From Novo Nordisk’s yearly reports, in Danish kroner. Tap a year to see its figures.

Sales and profit

Sales grew from DKK 127 billion in 2020 to DKK 309 billion in 2025, and it made a profit every year.
2025
Sales
DKK 309 billion
Profit
DKK 102 billion

Spare cash each year

It had cash to spare every year, ending with DKK 59.0 billion to spare in 2025.
2025
Spare cash
DKK 59.0 billion
Spare cash is the cash its business brought in, minus what it spent on buildings and equipment.

What it owns and what it owes

At the end of 2025 it owned DKK 543 billion, including DKK 26.5 billion in cash, and owed DKK 349 billion.

Key facts

From its yearly report for 2025.
Sales
DKK 309 billion
Profit
DKK 102 billion
Spare cash
DKK 59.0 billion
Cash in the bank
DKK 26.5 billion
Everything it owes
DKK 349 billion
Year ends
December
Money shown in
Danish kroner
Latest yearly report
20-F, filed Feb 4, 2026
Figures from Novo Nordisk’s yearly reports to the SEC (EDGAR), collected Oct 12, 2026.
Not investment advice. Holdings come from public SEC reports and the funds’ own letters, and can be up to 4½ months old. How this works
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