Novo Nordisk A/S (CPH: NOVO.B)

Novo Nordisk Income Statement

Financials in millions DKK. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	270,583	232,261	176,954	140,800	126,946	122,021
Revenue Growth (YoY)	26.15%	31.26%	25.68%	10.91%	4.04%	9.11%
Cost of Revenue	41,512	35,765	28,448	23,658	20,932	20,088
Gross Profit	229,071	196,496	148,506	117,142	106,014	101,933
Selling, General & Admin	65,722	61,598	50,684	41,058	36,886	35,830
Research & Development	43,300	31,029	23,287	17,199	15,462	14,220
Other Operating Expenses	261	-119	-1,034	-332	-460	-600
Operating Expenses	109,283	92,508	72,937	57,925	51,888	49,450
Operating Income	119,788	103,988	75,569	59,217	54,126	52,483
Interest Expense	-152	-542	-378	-289	-390	-220
Interest & Investment Income	608	1,069	239	231	337	65
Earnings From Equity Investments	81	81	-189	-24	149	-137
Currency Exchange Gain (Loss)	509	1,652	-4,651	344	-747	-3,212
Other Non Operating Income (Expenses)	-197	-197	-181	-122	-150	-281
EBT Excluding Unusual Items	120,637	106,051	70,409	59,357	53,325	48,698
Gain (Loss) on Sale of Investments	37	37	-587	296	-195	-145
Asset Writedown	-1,420	-1,414	-760	-573	-	-
Pretax Income	119,254	104,674	69,062	59,080	53,130	48,553
Income Tax Expense	24,533	20,991	13,537	11,323	10,992	9,602
Net Income	94,721	83,683	55,525	47,757	42,138	38,951
Net Income to Common	94,721	83,683	55,525	47,757	42,138	38,951
Net Income Growth	25.77%	50.71%	16.27%	13.33%	8.18%	0.84%
Shares Outstanding (Basic)	4,458	4,483	4,531	4,593	4,668	4,749
Shares Outstanding (Diluted)	4,468	4,495	4,545	4,606	4,680	4,757
Shares Change (YoY)	-0.86%	-1.10%	-1.34%	-1.58%	-1.63%	-1.89%
EPS (Basic)	21.25	18.67	12.26	10.40	9.03	8.20
EPS (Diluted)	21.20	18.62	12.22	10.37	9.01	8.19
EPS Growth	26.84%	52.37%	17.84%	15.16%	9.95%	2.82%
Free Cash Flow	77,748	83,102	66,741	48,665	46,126	37,850
Free Cash Flow Per Share	17.40	18.49	14.69	10.57	9.86	7.96
Dividend Per Share	9.900	9.400	6.200	5.200	4.550	4.175
Dividend Growth	39.93%	51.61%	19.23%	14.29%	8.98%	2.45%
Gross Margin	84.66%	84.60%	83.92%	83.20%	83.51%	83.54%
Operating Margin	44.27%	44.77%	42.71%	42.06%	42.64%	43.01%
Profit Margin	35.01%	36.03%	31.38%	33.92%	33.19%	31.92%
Free Cash Flow Margin	28.73%	35.78%	37.72%	34.56%	36.34%	31.02%
EBITDA	127,401	109,813	80,875	63,770	58,565	56,310
EBITDA Margin	47.08%	47.28%	45.70%	45.29%	46.13%	46.15%
D&A For EBITDA	7,613	5,825	5,306	4,553	4,439	3,827
EBIT	119,788	103,988	75,569	59,217	54,126	52,483
EBIT Margin	44.27%	44.77%	42.71%	42.06%	42.64%	43.01%
Effective Tax Rate	20.57%	20.05%	19.60%	19.17%	20.69%	19.78%

Source: S&P Capital IQ. Standard template. Financial Sources.