Novo Nordisk A/S (NVO)
NYSE: NVO · Real-Time Price · USD
41.17
-0.03 (-0.07%)
At close: Apr 28, 2026, 4:00 PM EDT
40.86
-0.31 (-0.75%)
Pre-market: Apr 29, 2026, 8:41 AM EDT

Novo Nordisk Cash Flow Statement

Millions DKK. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
102,434100,98883,68355,52547,757
Depreciation & Amortization
21,98219,1079,4137,3626,025
Other Adjustments
22,96327,92021,99636,05024,719
Changes in Income Taxes Payable
-32,014-29,636-25,897-14,515-14,438
Changes in Other Operating Activities
3,7372,58919,713-5,535-9,063
Operating Cash Flow
119,102120,968108,90878,88755,000
Operating Cash Flow Growth
-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
10,67424,3918,2936,6451,176
Payments for Business Acquisitions
--82,163--7,075-18,283
Proceeds from Business Divestments
1,004----
Investing Cash Flow
-79,158-128,895-43,892-24,918-31,605
Long-Term Debt Issued
103,93179,391-11,21522,160
Long-Term Debt Repaid
-79,188-6,335-1,467-13,623-6,689
Net Long-Term Debt Issued (Repaid)
24,74373,056-1,467-2,40815,471
Repurchase of Common Stock
-1,388-20,181-29,924-24,086-19,447
Net Common Stock Issued (Repurchased)
-1,388-20,181-29,924-24,086-19,447
Common Dividends Paid
-51,763-44,140-31,767-25,303-21,517
Financing Cash Flow
-28,4088,735-63,158-51,797-25,493
Effect of Exchange Rate Changes on Cash and Cash Equivalents
-727455-119-238591
Net Cash Flow
11,5368081,8582,172-2,098
Free Cash Flow
58,96273,80483,10266,74148,665
Free Cash Flow Growth
-20.11%-11.19%24.51%37.14%5.50%
FCF Margin
19.08%25.41%35.78%37.72%34.56%
Free Cash Flow Per Share
13.2616.5418.4914.6910.57
Levered Free Cash Flow
60,742118,94059,63928,28339,417
Unlevered Free Cash Flow
33,73846,79659,42735,31223,594
Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.
SEC Filings: 10-K · 10-Q