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Denmark
In shortNovo Nordisk Fonden is profitable, generates cash and carries moderate debt, with revenue growing (+12.2% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 34.5% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 7.3% | 49/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 11.7% | 59/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 22.2% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.83× | 3/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.91× | 61/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 1.38× | 75/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 9.41× | 75/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.95 | 22/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 31.4% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 4.32× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 4 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 4 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 3 | 100/100 |
| Revenue growth volatility | 9.3% | 77/100 |
| Operating margin volatility | 6.5% | 50/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 22.7% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
The last 4 fiscal years from the company's annual reports.
DKK millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 208,240 | 269,066 | 342,798 | 384,724 |
| Cost of revenue | 46,082 | 57,288 | 76,114 | 105,139 |
| Gross profit | 162,158 | 211,778 | 266,684 | 279,585 |
| Research & development | 26,417 | 34,682 | 52,071 | 55,852 |
| Operating income | 60,995 | 113,784 | 146,270 | 132,580 |
| Interest expense | 7,436 | 3,281 | 11,313 | 14,087 |
| Pre-tax income | 57,854 | 114,445 | 153,250 | 133,393 |
| Income tax | 13,210 | 21,100 | 27,079 | 29,073 |
| Net income | 2,134 | 32,100 | 52,053 | 27,977 |
1.95 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Dec 31, 2025