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Novo Nordisk A/S (NVO)
NYSE: NVO · Real-Time Price · USD
40.30
-1.88 (-4.46%)
At close: Nov 5, 2026, 4:00 PM EST
40.07
-0.23 (-0.57%)
After-hours: Nov 5, 2026, 7:59 PM EST

Novo Nordisk Cash Flow Statement

Millions DKK. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Net Income
16,74020,98948,55726,89120,00626,50329,03428,23027,30120,05025,40721,96322,47819,42819,81413,59214,40513,31814,21010,892
Depreciation & Amortization
3,6003,6053,5133,0853,7603,7443,7592,0762,0202,0372,1576552,5252,1771,7191,0312,0411,6361,6501,168
Other Amortization
---318---255---213---195---200
Asset Writedown & Restructuring Costs
10,7726,699232,1593,9971,089712,8671306,8087572,124---809---714
Loss (Gain) From Sale of Investments
---4,161----5,079----556--------340
Loss (Gain) on Equity Investments
---17---17----81-------24
Stock-Based Compensation
---1,435---2,289---2,149-------1,040
Other Operating Activities
9,27210,5875,222-50,8173,9272,4977,280-31,95725,66211,751-4,399-6,0984,29410,98718,497-8,21818,8034,9185,833-6,027
Change in Accounts Receivable
---1,093----7,179----14,210----9,917----12,909
Change in Inventory
----8,774----9,038----7,423----4,767----1,085
Change in Accounts Payable
---2,618---5,011---10,019---6,717---3,153
Change in Other Net Operating Assets
1,32613,319-33,23125,43314,5767,941-15,41424,809-11,2639,857-9,60879611,669-4,015-10,2167,659-11,0104,0891,893153
Operating Cash Flow
41,71055,19924,0847,61946,26641,77424,73012,30143,85050,50314,3149,55140,96628,57729,8147,10124,23923,96123,586-3,017
Operating Cash Flow Growth (YoY)
-9.85%32.14%-2.61%-38.06%5.51%-17.28%72.77%28.79%7.04%76.73%-51.99%34.50%69.01%19.27%26.41%-12.70%-5.12%109.56%-

Investing Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Capital Expenditures
-13,227-12,675-11,311-18,429-13,628-14,661-13,422-16,101-12,119-10,470-8,474-9,407-5,828-5,878-4,693-4,961-3,230-2,435-1,520-2,049
Sale of Property, Plant & Equipment
--------11-----------
Cash Acquisitions
---1,004----81,495--668------7,075----18,283
Sale (Purchase) of Intangibles
-452-126-728-25,408-1,787-1,614-1,164-457-385-2,768-535-7,029-4,796-1,157-108-1,212-995-140-260-265
Investment in Securities
-1,715-436521-102,0277,9136,838-8,401-6,82512,9651,719-2,619-2,250-1,846-602-736-1,625-127-6
Other Investing Activities
29480262-138130694-------------
Investing Cash Flow
-15,100-12,764-11,712-42,812-15,287-14,118-5,979-91,216-20,904-20,7313,956-14,717-13,243-9,285-6,647-13,850-4,961-4,200-1,907-20,603

Financing Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Long-Term Debt Issued
--15,977---27,363-----------11,150-
Total Debt Issued
53518,77215,97730,62071345,23527,36344,75911934,513-----95-30-11,15012,421
Long-Term Debt Repaid
---1,232----12,032----317----478----12,855-
Total Debt Repaid
-6,376-26,112-1,232-1,153-1,146-64,857-12,032-433-532-5,053-317-355-261-373-478-224-300-244-12,855-360
Net Debt Issued (Repaid)
-5,841-7,34014,74529,467-433-19,62215,33144,326-41329,460-317-355-261-373-478-129-330-244-1,70512,061
Repurchase of Common Stock
-4,103-3,499-2,400----1,388-7,491-2,405-7,449-2,836-9,761-6,141-8,823-5,199-7,539-4,620-7,450-4,477-7,512
Common Dividends Paid
-16,584--35,312--16,663--35,274--15,583--28,557--13,430--18,337--9,613--15,690-
Other Financing Activities
-494-8,2935,534--297-27,72725,949---5,3285,328---3,3933,393---2,7372,737-
Financing Cash Flow
-27,022-19,132-17,43329,467-17,393-47,3494,61836,835-18,40116,683-26,382-10,116-19,832-12,589-20,621-7,668-14,563-10,431-19,1354,549

Net Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Foreign Exchange Rate Adjustments
8152-27610663-810-86717-3484244-209418-65-263-844443218-55300
Net Cash Flow
-33123,355-5,337-5,62013,649-20,50323,283-41,3634,19746,497-8,068-15,4918,3096,6382,283-15,2615,1589,5482,489-18,771

Free Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Free Cash Flow
28,48342,52412,773-10,81032,63827,11311,308-3,80031,73140,0335,84014435,13822,69925,1212,14021,00921,52622,066-5,066
Free Cash Flow Growth (YoY)
-12.73%56.84%12.96%-2.86%-32.27%93.63%--9.70%76.37%-76.75%-93.27%67.25%5.45%13.84%-3.33%-8.58%123.95%-
Free Cash Flow Margin
35.97%54.18%13.19%-13.66%43.53%35.28%14.48%-4.44%44.50%58.82%8.94%0.22%59.83%41.80%47.07%4.45%46.11%52.16%52.50%-13.22%
Free Cash Flow Per Share
6.449.592.87-2.437.346.102.54-0.857.118.961.310.037.835.045.570.474.634.734.83-1.11
Levered Free Cash Flow
20,29725,51412,839-34,94824,382-23,79525,2553,83625,60326,8816,366-13,95629,51614,72021,661-4,05120,38919,19721,930-4,563
Unlevered Free Cash Flow
21,00626,45112,839-31,84424,382-20,69625,2554,08625,60327,8577,615-12,93730,87114,72022,231-3,81520,38919,19721,930-4,382

Additional Metrics

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21
Cash Interest Paid
4941,8189411,1702971,11983325314277140140899716586666852120
Cash Income Tax Paid
4051,3655,93722,9916235,7292,67112,9536153,94412,12411,0713,4794,6686,6794,5871,6992,9695,2605,858
Change in Working Capital
1,32613,319-33,23120,37014,5767,941-15,41413,603-11,2639,857-9,608-10,81811,669-4,015-10,216-308-11,0104,0891,893-10,688
SEC Filings: 10-K · 10-Q