Novo Nordisk A/S (VIE:NNO2)

Novo Nordisk Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	309,064	290,403	232,261	176,954	140,800
Revenue Growth (YoY)	6.43%	25.03%	31.25%	25.68%	10.91%
Cost of Revenue	55,734	43,560	35,319	28,424	23,658
Gross Profit	253,330	246,843	196,942	148,530	117,142
Selling, General & Admin	67,870	67,368	61,594	50,683	41,058
Research & Development	48,136	40,072	31,075	23,263	17,199
Other Operating Expenses	300	-476	-425	-1,034	-332
Operating Expenses	116,306	106,964	92,244	72,912	57,925
Operating Income	137,024	139,879	104,698	75,618	59,217
Interest Expense	-6,778	-1,640	-542	-378	-289
Interest & Investment Income	9,660	1,838	1,069	239	231
Earnings From Equity Investments	-	-17	81	-189	-24
Currency Exchange Gain (Loss)	-	-1,023	1,652	-4,651	344
Other Non Operating Income (Expenses)	-	-289	-197	-181	-122
EBT Excluding Unusual Items	139,906	138,748	106,761	70,458	59,357
Merger & Restructuring Charges	-6,589	-978	-	-	-
Gain (Loss) on Sale of Investments	-	-17	37	-587	296
Asset Writedown	-2,353	-10,562	-2,124	-809	-573
Other Unusual Items	-424	-	-	-	-
Pretax Income	130,540	127,191	104,674	69,062	59,080
Income Tax Expense	28,106	26,203	20,991	13,537	11,323
Net Income	102,434	100,988	83,683	55,525	47,757
Net Income to Common	102,434	100,988	83,683	55,525	47,757
Net Income Growth	1.43%	20.68%	50.71%	16.27%	13.33%
Shares Outstanding (Basic)	4,442	4,454	4,483	4,531	4,593
Shares Outstanding (Diluted)	4,448	4,463	4,495	4,545	4,606
Shares Change (YoY)	-0.34%	-0.71%	-1.10%	-1.34%	-1.58%
EPS (Basic)	23.06	22.67	18.67	12.26	10.40
EPS (Diluted)	23.03	22.63	18.62	12.22	10.37
EPS Growth	1.77%	21.54%	52.37%	17.84%	15.16%
Free Cash Flow	58,962	73,804	83,102	66,741	48,665
Free Cash Flow Per Share	13.26	16.54	18.49	14.69	10.56
Dividend Per Share	11.700	11.400	9.400	6.200	5.200
Dividend Growth	2.63%	21.28%	51.61%	19.23%	14.29%
Gross Margin	81.97%	85.00%	84.79%	83.94%	83.20%
Operating Margin	44.34%	48.17%	45.08%	42.73%	42.06%
Profit Margin	33.14%	34.77%	36.03%	31.38%	33.92%
Free Cash Flow Margin	19.08%	25.41%	35.78%	37.72%	34.56%
EBITDA	151,690	146,669	110,523	81,119	63,770
EBITDA Margin	49.08%	50.51%	47.59%	45.84%	45.29%
D&A For EBITDA	14,666	6,790	5,825	5,501	4,553
EBIT	137,024	139,879	104,698	75,618	59,217
EBIT Margin	44.34%	48.17%	45.08%	42.73%	42.06%
Effective Tax Rate	21.53%	20.60%	20.05%	19.60%	19.17%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.