Novo Nordisk A/S (NVO) income statement

NYSE · Healthcare · Drug Manufacturers - General · 68,794 employees · CEO Maziar Mike Doustdar

Price: $40.00 +2.20%
Market cap: $176B
Enterprise value: DKK 1.27T
Last report: Q2 '26 filed 2026-08-04
Next report: 2026-11-04

Novo Nordisk A/S (NVO) reported revenue of DKK 78.5B for Q2 '26 (+2.1% year on year), operating income of DKK 27.1B (34.5% of revenue) and net income of DKK 21B. Over the last four quarters revenue was DKK 329B.

Income statement

Income statement	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Revenue	DKK 58.7B	DKK 65.9B	DKK 65.3B	DKK 68.1B	DKK 71.3B	DKK 85.7B	DKK 78.1B	DKK 76.9B	DKK 75B	DKK 79.1B	DKK 96.8B	DKK 78.5B
Cost of revenue	DKK 9.71B	DKK 10B	DKK 9.92B	DKK 10.3B	DKK 11.3B	DKK 13B	DKK 12.9B	DKK 12.8B	DKK 17.9B	DKK 15.1B	DKK 13.6B	DKK 17.1B
Gross profit	DKK 49B	DKK 55.8B	DKK 55.4B	DKK 57.8B	DKK 60B	DKK 72.7B	DKK 65.2B	DKK 64B	DKK 57.1B	DKK 64B	DKK 83.2B	DKK 61.4B
Research & development	DKK 8.13B	DKK 10.5B	DKK 8.61B	DKK 16.2B	DKK 9.49B	DKK 13.8B	DKK 10.3B	DKK 11.7B	DKK 15.4B	DKK 14.6B	DKK 10.3B	DKK 17.8B
Sales & marketing	DKK 12.8B	DKK 17.2B	DKK 13.3B	DKK 14.9B	DKK 15.2B	DKK 18.7B	DKK 14.9B	DKK 17.5B	DKK 16B	DKK 15.9B	DKK 12.1B	DKK 15B
General & administrative	DKK 1.26B	DKK 1.46B	DKK 1.16B	DKK 1.16B	DKK 1.38B	DKK 1.58B	DKK 1.22B	DKK 1.32B	DKK 1.88B	DKK 1.55B	DKK 1.14B	DKK 1.31B
Other operating expenses	-DKK 98M	-DKK 3M	DKK 568M	-DKK 405M	DKK 101M	DKK 1.84B	-DKK 14M	DKK 23M	DKK 117M	DKK 174M	DKK 106M	DKK 234M
Operating expenses	DKK 22.1B	DKK 29.1B	DKK 23.6B	DKK 31.9B	DKK 26.2B	DKK 35.9B	DKK 26.4B	DKK 30.6B	DKK 33.4B	DKK 32.3B	DKK 23.6B	DKK 34.3B
Operating income	DKK 26.9B	DKK 26.8B	DKK 31.8B	DKK 25.9B	DKK 33.8B	DKK 36.7B	DKK 38.8B	DKK 33.4B	DKK 23.7B	DKK 31.7B	DKK 59.6B	DKK 27.1B
Interest income	DKK 3.32B	DKK 0	DKK 2.15B	DKK 960M	DKK 1.38B	DKK 3.91B	DKK 3.43B	DKK 5.31B	DKK 1.84B	DKK 2.45B	DKK 6.05B	DKK 1.31B
Interest expense	DKK 2.17B	DKK 916M	DKK 2.07B	DKK 1.56B	DKK 821M	DKK 5.09B	DKK 5.18B	DKK 4.96B	DKK 0	DKK 0	DKK 3.5B	DKK 1.5B
Other non-operating income (gains on investments, FX ...)	-DKK 3.32B	DKK 1.25B	-DKK 2.15B	-DKK 960M	-DKK 1.38B	-DKK 3.91B	-DKK 3.43B	-DKK 5.31B	-DKK 1.84B	-DKK 2.45B	-DKK 6.05B	-DKK 1.31B
Total non-operating income	DKK 1.15B	DKK 854M	DKK 72M	-DKK 602M	DKK 562M	-DKK 1.18B	-DKK 1.76B	DKK 356M	DKK 1.84B	DKK 2.45B	DKK 2.55B	-DKK 186M
Income before tax	DKK 28.1B	DKK 27.6B	DKK 31.9B	DKK 25.3B	DKK 34.4B	DKK 35.6B	DKK 37B	DKK 33.8B	DKK 25.5B	DKK 34.2B	DKK 62.2B	DKK 26.9B
Income tax	DKK 5.59B	DKK 5.66B	DKK 6.51B	DKK 5.28B	DKK 7.08B	DKK 7.33B	DKK 8B	DKK 7.3B	DKK 5.51B	DKK 7.29B	DKK 13.6B	DKK 5.89B
Net income	DKK 22.5B	DKK 22B	DKK 25.4B	DKK 20.1B	DKK 27.3B	DKK 28.2B	DKK 29B	DKK 26.5B	DKK 20B	DKK 26.9B	DKK 48.6B	DKK 21B
EPS (basic)	DKK 5.02	DKK 4.92	DKK 5.70	DKK 4.50	DKK 6.13	DKK 6.34	DKK 6.54	DKK 5.96	DKK 4.50	DKK 6.06	DKK 10.93	DKK 4.74
EPS (diluted)	DKK 5.00	DKK 4.91	DKK 5.68	DKK 4.49	DKK 6.12	DKK 6.33	DKK 6.53	DKK 5.96	DKK 4.50	DKK 6.04	DKK 10.91	DKK 4.74
Shares (basic, weighted)	4.48B	4.46B	4.46B	4.46B	4.45B	4.45B	4.44B	4.45B	4.45B	4.45B	4.44B	4.43B
Shares (diluted, weighted)	4.49B	4.48B	4.47B	4.47B	4.46B	4.46B	4.45B	4.45B	4.45B	4.45B	4.45B	4.44B
Depreciation & amortization	DKK 2.53B	DKK 2.99B	DKK 2.91B	DKK 8.85B	DKK 2.15B	DKK 5.2B	DKK 3.83B	DKK 4.83B	DKK 7.76B	DKK 5.56B	DKK 3.54B	DKK 10.3B
EBITDA	DKK 32.8B	DKK 28.5B	DKK 36.9B	DKK 35.7B	DKK 37.4B	DKK 45.8B	DKK 46B	DKK 43.6B	DKK 33.3B	DKK 39.7B	DKK 69.2B	DKK 38.7B

Income statement	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	DKK 112B	DKK 112B	DKK 112B	DKK 122B	DKK 127B	DKK 141B	DKK 177B	DKK 232B	DKK 290B	DKK 309B
Cost of revenue	DKK 17.2B	DKK 17.6B	DKK 17.6B	DKK 20.1B	DKK 20.9B	DKK 23.7B	DKK 28.4B	DKK 35.8B	DKK 44.5B	DKK 58.8B
Gross profit	DKK 94.6B	DKK 94.1B	DKK 94.2B	DKK 102B	DKK 106B	DKK 117B	DKK 149B	DKK 196B	DKK 246B	DKK 250B
Research & development	DKK 14.6B	DKK 14B	DKK 14.8B	DKK 14.2B	DKK 15.5B	DKK 17.8B	DKK 24B	DKK 32.4B	DKK 48.1B	DKK 52B
Sales & marketing	DKK 28.4B	DKK 28.3B	DKK 29.4B	DKK 31.8B	DKK 32.9B	DKK 37B	DKK 46.2B	DKK 56.7B	DKK 62.1B	DKK 64.3B
General & administrative	DKK 3.96B	DKK 3.78B	DKK 3.92B	DKK 4.01B	DKK 3.96B	DKK 4.05B	DKK 4.47B	DKK 4.86B	DKK 5.28B	DKK 5.97B
Other operating expenses	-DKK 737M	-DKK 1.04B	-DKK 1.15B	-DKK 600M	-DKK 460M	-DKK 332M	-DKK 1.03B	-DKK 119M	DKK 2.1B	DKK 300M
Operating expenses	DKK 46.2B	DKK 45.1B	DKK 47B	DKK 49.5B	DKK 51.9B	DKK 58.5B	DKK 73.7B	DKK 93.9B	DKK 118B	DKK 123B
Operating income	DKK 48.4B	DKK 49B	DKK 47.2B	DKK 52.5B	DKK 54.1B	DKK 58.6B	DKK 74.8B	DKK 103B	DKK 128B	DKK 128B
Interest income	DKK 52M	DKK 69M	DKK 51M	DKK 65M	DKK 337M	DKK 231M	DKK 239M	DKK 1.07B	DKK 1.84B	DKK 1.27B
Interest expense	DKK 65M	DKK 90M	DKK 85M	DKK 220M	DKK 390M	DKK 289M	DKK 378M	DKK 542M	DKK 1.64B	DKK 4.21B
Other non-operating income (gains on investments, FX ...)	DKK 569M	DKK 197M	-DKK 452M	DKK 3.71B	DKK 606M	-DKK 725M	DKK 5.37B	-DKK 2.64B	-DKK 492M	-DKK 7.09B
Total non-operating income	-DKK 634M	-DKK 287M	DKK 367M	-DKK 3.93B	-DKK 996M	DKK 436M	-DKK 5.75B	DKK 2.1B	-DKK 1.15B	DKK 2.88B
Income before tax	DKK 47.8B	DKK 48.7B	DKK 47.6B	DKK 48.6B	DKK 53.1B	DKK 59.1B	DKK 69.1B	DKK 105B	DKK 127B	DKK 131B
Income tax	DKK 9.87B	DKK 10.6B	DKK 8.99B	DKK 9.6B	DKK 11B	DKK 11.3B	DKK 13.5B	DKK 21B	DKK 26.2B	DKK 28.1B
Net income	DKK 37.9B	DKK 38.1B	DKK 38.6B	DKK 39B	DKK 42.1B	DKK 47.8B	DKK 55.5B	DKK 83.7B	DKK 101B	DKK 102B
EPS (basic)	DKK 7.50	DKK 7.71	DKK 7.98	DKK 8.21	DKK 9.03	DKK 10.40	DKK 12.26	DKK 18.67	DKK 22.67	DKK 23.06
EPS (diluted)	DKK 7.48	DKK 7.70	DKK 7.97	DKK 8.19	DKK 9.01	DKK 10.37	DKK 12.22	DKK 18.62	DKK 22.63	DKK 23.03
Shares (basic, weighted)	5.07B	4.96B	4.84B	4.75B	4.67B	4.59B	4.53B	4.48B	4.45B	4.45B
Shares (diluted, weighted)	5.07B	4.96B	4.85B	4.76B	4.68B	4.61B	4.54B	4.49B	4.46B	4.45B
Depreciation & amortization	DKK 3.19B	DKK 3.18B	DKK 3.93B	DKK 5.66B	DKK 5.75B	DKK 6.03B	DKK 7.36B	DKK 9.41B	DKK 19.1B	DKK 22B
EBITDA	DKK 51.1B	DKK 52B	DKK 51.6B	DKK 54.4B	DKK 59.3B	DKK 65.4B	DKK 76.8B	DKK 115B	DKK 148B	DKK 157B

Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in DKK.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates: Financial Modeling Prep.

Data as of 2026-11-01 · Amounts in DKK as reported; price and market cap in USD.