Valuation Novo Nordisk A/S

Equities

Real-time Estimate Cboe Europe Other stock markets 15:37:14 13/01/2026 +03			5-day change	1st Jan Change
385.18 ^DKK	+1.60%		+11.03%	+18.37%

01:41pm	Danske Bank Lowers Price Target for Novo Nordisk to 455 Danish Kroner (from 480), Reiterates Buy - BN	FW
11:16am	Novo Nordisk CEO Sees Wegovy Pills Helping the Company Expand in the US - BN	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	986,612	1,674,992	2,118,803	3,112,331	2,772,285	1,684,523	1,684,523	-
Change	-	69.77%	26.5%	46.89%	-10.93%	-39.24%	0%	-
Enterprise Value (EV) ¹	984,211	1,684,152	2,121,013	3,109,107	2,848,764	1,789,425	1,783,844	1,767,185
Change	-	71.12%	25.94%	46.59%	-8.37%	-37.19%	-0.31%	-0.93%
P/E ratio	23.7x	35.4x	38.4x	37.5x	27.6x	16.4x	16.7x	15.5x
PBR	15.8x	24x	25.6x	29.4x	19.3x	8.93x	7.44x	6.41x
PEG	-	2.3x	2.2x	0.7x	1.3x	8.76x	-10.42x	2.04x
Capitalization / Revenue	7.77x	11.9x	12x	13.4x	9.55x	5.47x	5.52x	5.11x
EV / Revenue	7.75x	12x	12x	13.4x	9.81x	5.81x	5.84x	5.36x
EV / EBITDA	16.4x	26x	25.8x	27.8x	19.3x	12x	12.2x	11.1x
EV / EBIT	18.2x	28.7x	28.4x	30.3x	22.2x	13.9x	13.9x	12.7x
EV / FCF	34.5x	57.4x	37x	45.5x	38.6x	35.2x	27x	20.1x
FCF Yield	2.9%	1.74%	2.7%	2.2%	2.59%	2.84%	3.71%	4.97%
Dividend per Share ²	4.55	5.2	6.2	9.4	11.4	11.64	11.4	12.12
Rate of return	2.13%	1.41%	1.32%	1.35%	1.83%	3.07%	3.01%	3.2%
EPS ²	9.005	10.37	12.22	18.62	22.63	23.05	22.68	24.41
Distribution rate	50.5%	50.1%	50.7%	50.5%	50.4%	50.5%	50.3%	49.6%
Net sales ¹	126,946	140,800	176,954	232,261	290,403	307,886	305,197	329,552
EBITDA ¹	59,879	64,669	82,171	111,987	147,446	148,902	146,200	158,885
EBIT ¹	54,126	58,644	74,809	102,574	128,339	128,549	128,071	139,320
Net income ¹	42,138	47,757	55,525	83,683	100,988	103,066	100,084	108,809
Net Debt ¹	-2,401	9,160	2,210	-3,224	76,479	104,902	99,321	82,662
Reference price ²	213.32	367.50	469.00	698.10	624.20	379.10	379.10	379.10
Nbr of stocks (in thousands)	4,624,923	4,557,801	4,517,704	4,458,288	4,441,340	4,443,479	4,443,479	-
Announcement Date	2/3/21 A	2/2/22 A	2/1/23 A	1/31/24 A	2/5/25 A	-	-	-

¹DKK in Million²DKK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
NOVO NORDISK A/S	16.44x	5.81x	12.02x	3.07%	263B
ELI LILLY AND COMPANY	47.23x	15.63x	34.69x	0.55%	968B
JOHNSON & JOHNSON	20.37x	5.66x	15.76x	2.46%	505B
ABBVIE INC.	74.56x	7.3x	17.52x	2.97%	389B
ROCHE HOLDING AG	19.92x	4.98x	12.37x	2.88%	367B
ASTRAZENECA PLC	28.73x	5.4x	16.01x	1.7%	295B
MERCK & CO., INC.	14.03x	4.59x	9.86x	2.96%	271B
NOVARTIS AG	20.04x	5.3x	12.44x	2.86%	274B
AMGEN INC.	25.74x	6.05x	10.36x	2.94%	175B
GILEAD SCIENCES, INC.	18.26x	5.65x	10.31x	2.71%	152B
Average	28.53x	6.64x	15.13x	2.51%	366.03B
Weighted average by Cap.	33.25x	8.30x	19.19x	2.13%