Novo Nordisk Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	121,957	102,434	100,988	83,683	55,525	47,757
Depreciation & Amortization	21,688	21,982	19,107	9,413	7,362	6,025
Other Adjustments	49,736	22,963	27,920	21,996	36,050	24,719
Changes in Income Taxes Payable	-35,280	-32,014	-29,636	-25,897	-14,515	-14,438
Changes in Other Operating Activities	-34,450	3,737	2,589	19,713	-5,535	-9,063
Operating Cash Flow	118,456	119,102	120,968	108,908	78,887	55,000
Operating Cash Flow Growth	-9.84%	-1.54%	11.07%	38.06%	43.43%	5.87%
Capital Expenditures	-	-60,140	-47,164	-25,806	-12,146	-6,335
Purchases of Intangible Assets	-	-29,973	-4,145	-13,090	-2,607	-1,050
Purchases of Investments	-	-723	-19,814	-13,289	-9,735	-7,113
Proceeds from Sale of Investments	2,616	10,674	24,391	8,293	6,645	1,176
Payments for Business Acquisitions	-	-	-82,163	-	-7,075	-18,283
Proceeds from Business Divestments	44	1,004	-	-	-	-
Investing Cash Flow	-84,891	-79,158	-128,895	-43,892	-24,918	-31,605
Long-Term Debt Issued	92,545	103,931	79,391	-	11,215	22,160
Long-Term Debt Repaid	-68,388	-79,188	-6,335	-1,467	-13,623	-6,689
Net Long-Term Debt Issued (Repaid)	24,157	24,743	73,056	-1,467	-2,408	15,471
Repurchase of Common Stock	-2,400	-1,388	-20,181	-29,924	-24,086	-19,447
Net Common Stock Issued (Repurchased)	-2,400	-1,388	-20,181	-29,924	-24,086	-19,447
Common Dividends Paid	-51,801	-51,763	-44,140	-31,767	-25,303	-21,517
Other Financing Activities	6,475	-	-	-	-	-
Financing Cash Flow	-50,459	-28,408	8,735	-63,158	-51,797	-25,493
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-917	-727	455	-119	-238	591
Net Cash Flow	-16,894	11,536	808	1,858	2,172	-2,098
Free Cash Flow	118,456	58,962	73,804	83,102	66,741	48,665
Free Cash Flow Growth	100.90%	-20.11%	-11.19%	24.51%	37.14%	5.50%
FCF Margin	36.14%	19.08%	25.41%	35.78%	37.72%	34.56%
Free Cash Flow Per Share	26.63	13.26	16.54	18.49	14.69	10.57
Levered Free Cash Flow	98,072	60,742	118,940	59,639	28,283	39,417
Unlevered Free Cash Flow	68,279	33,738	46,796	59,427	35,312	23,594

SEC Filings: 10-K · 10-Q