Projected Income Statement: Novo Nordisk A/S

Forecast Balance Sheet: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 9,160 2,210 -3,224 76,479 103,996 127,049 125,828 110,836
Change - -75.87% -245.88% 2,472.18% 35.98% 22.17% -0.96% -11.91%
Announcement Date 2/2/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/3/26 A - - -
1DKK in Million
Estimates

Cash Flow Forecast: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 6,335 12,146 25,806 47,164 60,140 56,542 37,802 30,037
Change - 91.73% 112.47% 82.76% 27.51% -5.98% -33.14% -20.54%
Free Cash Flow (FCF) 1 29,319 57,362 68,326 73,804 58,962 46,271 71,062 80,467
Change - 95.65% 19.11% 8.02% -20.11% -21.52% 53.58% 13.23%
Announcement Date 2/2/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/3/26 A - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 45.93% 46.44% 48.22% 50.77% 48.42% 48.52% 47.37% 47.79%
EBIT Margin (%) 41.65% 42.28% 44.16% 44.19% 41.3% 41.24% 40.39% 40.66%
EBT Margin (%) 41.96% 39.03% 45.07% 43.8% 42.24% 43.09% 40.19% 40.67%
Net margin (%) 33.92% 31.38% 36.03% 34.78% 33.14% 33.9% 31.29% 31.65%
FCF margin (%) 20.82% 32.42% 29.42% 25.41% 19.08% 15.77% 23.66% 25.22%
FCF / Net Income (%) 61.39% 103.31% 81.65% 73.08% 57.56% 46.51% 75.62% 79.68%

Profitability

        
ROA 28.14% 25.48% 30.12% 25.88% 20.31% 18.57% 16.65% 17.18%
ROE 71.24% 72% 88.07% 80.78% 60.7% 45.68% 37.89% 36.73%

Financial Health

        
Leverage (Debt/EBITDA) 0.14x 0.03x - 0.52x 0.69x 0.89x 0.88x 0.73x
Debt / Free cash flow 0.31x 0.04x - 1.04x 1.76x 2.75x 1.77x 1.38x

Capital Intensity

        
CAPEX / Current Assets (%) 4.5% 6.86% 11.11% 16.24% 19.46% 19.27% 12.59% 9.41%
CAPEX / EBITDA (%) 9.8% 14.78% 23.04% 31.99% 40.19% 39.71% 26.57% 19.7%
CAPEX / FCF (%) 21.61% 21.17% 37.77% 63.9% 102% 122.2% 53.2% 37.33%

Items per share

        
Cash flow per share 1 11.94 17.36 24.23 27.1 26.78 23.8 25.85 27.26
Change - 45.37% 39.6% 11.85% -1.2% -11.12% 8.63% 5.44%
Dividend per Share 1 5.2 6.2 9.4 11.4 11.7 11.36 11.04 12.14
Change - 19.23% 51.61% 21.28% 2.63% -2.94% -2.8% 9.94%
Book Value Per Share 1 15.31 18.31 23.77 32.31 - 51.7 58.11 65.48
Change - 19.56% 29.84% 35.92% - - 12.38% 12.7%
EPS 1 10.37 12.22 18.62 22.63 23.03 22.84 21.12 23.06
Change - 17.84% 52.37% 21.54% 1.77% -0.84% -7.5% 9.16%
Nbr of stocks (in thousands) 4,557,801 4,517,704 4,458,288 4,441,340 4,443,479 4,425,806 4,425,806 4,425,806
Announcement Date 2/2/22 A 2/1/23 A 1/31/24 A 2/5/25 A 2/3/26 A - - -
1DKK
Estimates
2026 *2027 *
P/E 14.4x 15.6x
PBR 6.38x 5.68x
EV / Sales 5.41x 5.28x
Yield 3.44% 3.35%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
26
Last Close Price
329.90DKK
Average target price
315.58DKK
Spread / Average Target
-4.34%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Stocks
  3. NOVO B Stock
  4. Financials Novo Nordisk A/S