NOVO NORDISK A/S-B (NOV.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:NOV • DK0062498333

39.545 EUR
+2.02 (+5.37%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

7

NOV gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 55 industry peers in the Pharmaceuticals industry. While NOV has a great profitability rating, there are some minor concerns on its financial health. NOV has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • NOV had positive earnings in the past year.
  • In the past year NOV had a positive cash flow from operations.
  • Each year in the past 5 years NOV has been profitable.
  • In the past 5 years NOV always reported a positive cash flow from operatings.
NOV.DE Yearly Net Income VS EBIT VS OCF VS FCFNOV.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

1.2 Ratios

  • With an excellent Return On Assets value of 20.26%, NOV belongs to the best of the industry, outperforming 98.18% of the companies in the same industry.
  • NOV has a Return On Equity of 61.08%. This is amongst the best in the industry. NOV outperforms 94.55% of its industry peers.
  • The Return On Invested Capital of NOV (38.03%) is better than 98.18% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NOV is significantly above the industry average of 14.23%.
  • The last Return On Invested Capital (38.03%) for NOV is well below the 3 year average (50.29%), which needs to be investigated, but indicates that NOV had better years and this may not be a problem.
Industry RankSector Rank
ROA 20.26%
ROE 61.08%
ROIC 38.03%
ROA(3y)23.77%
ROA(5y)24.99%
ROE(3y)71.81%
ROE(5y)69.89%
ROIC(3y)50.29%
ROIC(5y)49.64%
NOV.DE Yearly ROA, ROE, ROICNOV.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1.3 Margins

  • Looking at the Profit Margin, with a value of 32.88%, NOV belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • NOV's Profit Margin has improved in the last couple of years.
  • NOV has a Operating Margin of 42.03%. This is amongst the best in the industry. NOV outperforms 94.55% of its industry peers.
  • NOV's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 82.05%, NOV belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
  • In the last couple of years the Gross Margin of NOV has remained more or less at the same level.
Industry RankSector Rank
OM 42.03%
PM (TTM) 32.88%
GM 82.05%
OM growth 3Y4.3%
OM growth 5Y1.69%
PM growth 3Y0.84%
PM growth 5Y1.73%
GM growth 3Y0.72%
GM growth 5Y0.24%
NOV.DE Yearly Profit, Operating, Gross MarginsNOV.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so NOV is creating value.
  • NOV has less shares outstanding than it did 1 year ago.
  • NOV has more shares outstanding than it did 5 years ago.
  • NOV has a worse debt/assets ratio than last year.
NOV.DE Yearly Shares OutstandingNOV.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
NOV.DE Yearly Total Debt VS Total AssetsNOV.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 100B 200B 300B 400B

2.2 Solvency

  • NOV has an Altman-Z score of 3.99. This indicates that NOV is financially healthy and has little risk of bankruptcy at the moment.
  • With a Altman-Z score value of 3.99, NOV perfoms like the industry average, outperforming 50.91% of the companies in the same industry.
  • The Debt to FCF ratio of NOV is 1.66, which is an excellent value as it means it would take NOV, only 1.66 years of fcf income to pay off all of its debts.
  • With an excellent Debt to FCF ratio value of 1.66, NOV belongs to the best of the industry, outperforming 87.27% of the companies in the same industry.
  • NOV has a Debt/Equity ratio of 0.52. This is a neutral value indicating NOV is somewhat dependend on debt financing.
  • The Debt to Equity ratio of NOV (0.52) is better than 63.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF 1.66
Altman-Z 3.99
ROIC/WACC6.02
WACC6.32%
NOV.DE Yearly LT Debt VS Equity VS FCFNOV.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B

2.3 Liquidity

  • A Current Ratio of 0.78 indicates that NOV may have some problems paying its short term obligations.
  • NOV's Current ratio of 0.78 is on the low side compared to the rest of the industry. NOV is outperformed by 87.27% of its industry peers.
  • A Quick Ratio of 0.57 indicates that NOV may have some problems paying its short term obligations.
  • NOV's Quick ratio of 0.57 is on the low side compared to the rest of the industry. NOV is outperformed by 81.82% of its industry peers.
  • The current and quick ratio evaluation for NOV is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 0.78
Quick Ratio 0.57
NOV.DE Yearly Current Assets VS Current LiabilitesNOV.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • NOV shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.05%, which is quite good.
  • The Earnings Per Share has been growing by 22.54% on average over the past years. This is a very strong growth
  • NOV shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 16.64%.
  • NOV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 18.94% yearly.
EPS 1Y (TTM)10.05%
EPS 3Y29.71%
EPS 5Y22.54%
EPS Q2Q%-26.47%
Revenue 1Y (TTM)16.64%
Revenue growth 3Y27.29%
Revenue growth 5Y18.94%
Sales Q2Q%5.14%

3.2 Future

  • NOV is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.49% yearly.
  • NOV is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.10% yearly.
EPS Next Y4.45%
EPS Next 2Y0.33%
EPS Next 3Y2.25%
EPS Next 5Y5.49%
Revenue Next Year7.98%
Revenue Next 2Y4.04%
Revenue Next 3Y4.95%
Revenue Next 5Y6.1%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NOV.DE Yearly Revenue VS EstimatesNOV.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 100B 200B 300B 400B
NOV.DE Yearly EPS VS EstimatesNOV.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10 20 30

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6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 12.67, the valuation of NOV can be described as correct.
  • Based on the Price/Earnings ratio, NOV is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 27.92. NOV is valued rather cheaply when compared to this.
  • With a Price/Forward Earnings ratio of 12.96, NOV is valued correctly.
  • Based on the Price/Forward Earnings ratio, NOV is valued a bit cheaper than the industry average as 74.55% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 27.78. NOV is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 12.67
Fwd PE 12.96
NOV.DE Price Earnings VS Forward Price EarningsNOV.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • NOV's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NOV is cheaper than 80.00% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of NOV indicates a somewhat cheap valuation: NOV is cheaper than 67.27% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 21.52
EV/EBITDA 8.51
NOV.DE Per share dataNOV.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of NOV may justify a higher PE ratio.
PEG (NY)2.85
PEG (5Y)0.56
EPS Next 2Y0.33%
EPS Next 3Y2.25%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • NOV has a Yearly Dividend Yield of 3.15%. Purely for dividend investing, there may be better candidates out there.
  • NOV's Dividend Yield is a higher than the industry average which is at 1.95.
  • Compared to an average S&P500 Dividend Yield of 1.83, NOV pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.15%

5.2 History

  • On average, the dividend of NOV grows each year by 16.56%, which is quite nice.
Dividend Growth(5Y)16.56%
Div Incr Years0
Div Non Decr Years0
NOV.DE Yearly Dividends per shareNOV.DE Yearly Dividends per shareYearly Dividends per share 2024 2025 2 4 6 8 10

5.3 Sustainability

  • 49.88% of the earnings are spent on dividend by NOV. This is a bit on the high side, but may be sustainable.
  • NOV's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP49.88%
EPS Next 2Y0.33%
EPS Next 3Y2.25%
NOV.DE Yearly Income VS Free CF VS DividendNOV.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B
NOV.DE Dividend Payout.NOV.DE Dividend Payout, showing the Payout Ratio.NOV.DE Dividend Payout.PayoutRetained Earnings

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NOVO NORDISK A/S-B

FRA:NOV (2/6/2026, 7:00:00 PM)

39.545

+2.02 (+5.37%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)11-05
Earnings (Next)02-04
Inst Owners33.25%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap175.72B
Revenue(TTM)315.60B
Net Income(TTM)103.77B
Analysts71.88
Price Target53.39 (35.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.15%
Yearly Dividend1.33
Dividend Growth(5Y)16.56%
DP49.88%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-4.09%
Min EPS beat(2)-7.04%
Max EPS beat(2)-1.15%
EPS beat(4)2
Avg EPS beat(4)0.81%
Min EPS beat(4)-7.04%
Max EPS beat(4)7.46%
EPS beat(8)5
Avg EPS beat(8)1.75%
EPS beat(12)8
Avg EPS beat(12)1.59%
EPS beat(16)11
Avg EPS beat(16)1.6%
Revenue beat(2)0
Avg Revenue beat(2)-1.81%
Min Revenue beat(2)-3.19%
Max Revenue beat(2)-0.44%
Revenue beat(4)1
Avg Revenue beat(4)0.55%
Min Revenue beat(4)-3.19%
Max Revenue beat(4)6.95%
Revenue beat(8)3
Avg Revenue beat(8)0.61%
Revenue beat(12)6
Avg Revenue beat(12)0.51%
Revenue beat(16)9
Avg Revenue beat(16)0.77%
PT rev (1m)-2.83%
PT rev (3m)-12.85%
EPS NQ rev (1m)0.08%
EPS NQ rev (3m)-6.94%
EPS NY rev (1m)-0.32%
EPS NY rev (3m)-4.34%
Revenue NQ rev (1m)0.26%
Revenue NQ rev (3m)-6.73%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.12%
Valuation
Industry RankSector Rank
PE 12.67
Fwd PE 12.96
P/S 4.16
P/FCF 21.52
P/OCF 10.6
P/B 7.72
P/tB 20.72
EV/EBITDA 8.51
EPS(TTM)3.12
EY7.89%
EPS(NY)3.05
Fwd EY7.72%
FCF(TTM)1.84
FCFY4.65%
OCF(TTM)3.73
OCFY9.44%
SpS9.51
BVpS5.12
TBVpS1.91
PEG (NY)2.85
PEG (5Y)0.56
Graham Number18.96
Profitability
Industry RankSector Rank
ROA 20.26%
ROE 61.08%
ROCE 47.73%
ROIC 38.03%
ROICexc 43.08%
ROICexgc 76.17%
OM 42.03%
PM (TTM) 32.88%
GM 82.05%
FCFM 19.31%
ROA(3y)23.77%
ROA(5y)24.99%
ROE(3y)71.81%
ROE(5y)69.89%
ROIC(3y)50.29%
ROIC(5y)49.64%
ROICexc(3y)60.7%
ROICexc(5y)59.32%
ROICexgc(3y)124.92%
ROICexgc(5y)112.44%
ROCE(3y)63.71%
ROCE(5y)65.35%
ROICexgc growth 3Y-1.28%
ROICexgc growth 5Y0.46%
ROICexc growth 3Y-2.16%
ROICexc growth 5Y-9.95%
OM growth 3Y4.3%
OM growth 5Y1.69%
PM growth 3Y0.84%
PM growth 5Y1.73%
GM growth 3Y0.72%
GM growth 5Y0.24%
F-Score4
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF 1.66
Debt/EBITDA 0.58
Cap/Depr 290.66%
Cap/Sales 19.91%
Interest Coverage 53.02
Cash Conversion 80.23%
Profit Quality 58.73%
Current Ratio 0.78
Quick Ratio 0.57
Altman-Z 3.99
F-Score4
WACC6.32%
ROIC/WACC6.02
Cap/Depr(3y)294.05%
Cap/Depr(5y)277.71%
Cap/Sales(3y)14.25%
Cap/Sales(5y)13.08%
Profit Quality(3y)89.38%
Profit Quality(5y)87.75%
High Growth Momentum
Growth
EPS 1Y (TTM)10.05%
EPS 3Y29.71%
EPS 5Y22.54%
EPS Q2Q%-26.47%
EPS Next Y4.45%
EPS Next 2Y0.33%
EPS Next 3Y2.25%
EPS Next 5Y5.49%
Revenue 1Y (TTM)16.64%
Revenue growth 3Y27.29%
Revenue growth 5Y18.94%
Sales Q2Q%5.14%
Revenue Next Year7.98%
Revenue Next 2Y4.04%
Revenue Next 3Y4.95%
Revenue Next 5Y6.1%
EBIT growth 1Y6.92%
EBIT growth 3Y32.76%
EBIT growth 5Y20.94%
EBIT Next Year18.56%
EBIT Next 3Y8.09%
EBIT Next 5Y8.99%
FCF growth 1Y-21.68%
FCF growth 3Y13.52%
FCF growth 5Y14.4%
OCF growth 1Y16.27%
OCF growth 3Y30.05%
OCF growth 5Y20.93%

NOVO NORDISK A/S-B / NOV.DE FAQ

What is the fundamental rating for NOV stock?

ChartMill assigns a fundamental rating of 7 / 10 to NOV.DE.


Can you provide the valuation status for NOVO NORDISK A/S-B?

ChartMill assigns a valuation rating of 6 / 10 to NOVO NORDISK A/S-B (NOV.DE). This can be considered as Fairly Valued.


What is the profitability of NOV stock?

NOVO NORDISK A/S-B (NOV.DE) has a profitability rating of 9 / 10.


Can you provide the expected EPS growth for NOV stock?

The Earnings per Share (EPS) of NOVO NORDISK A/S-B (NOV.DE) is expected to grow by 4.45% in the next year.


Is the dividend of NOVO NORDISK A/S-B sustainable?

The dividend rating of NOVO NORDISK A/S-B (NOV.DE) is 6 / 10 and the dividend payout ratio is 49.88%.