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

FRA:NOV • DK0062498333

31.975 EUR
-0.16 (-0.48%)
Last: Feb 26, 2026, 02:04 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

Overall NOV gets a fundamental rating of 6 out of 10. We evaluated NOV against 52 industry peers in the Pharmaceuticals industry. NOV scores excellent on profitability, but there are some minor concerns on its financial health. NOV has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year NOV was profitable.
  • In the past year NOV had a positive cash flow from operations.
  • In the past 5 years NOV has always been profitable.
  • Each year in the past 5 years NOV had a positive operating cash flow.
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 2025 20B 40B 60B 80B 100B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 18.87%, NOV belongs to the top of the industry, outperforming 98.08% of the companies in the same industry.
  • NOV's Return On Equity of 52.79% is amongst the best of the industry. NOV outperforms 94.23% of its industry peers.
  • NOV's Return On Invested Capital of 30.79% is amongst the best of the industry. NOV outperforms 98.08% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for NOV is significantly above the industry average of 14.12%.
  • The 3 year average ROIC (43.61%) for NOV is well above the current ROIC(30.79%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 18.87%
ROE 52.79%
ROIC 30.79%
ROA(3y)22.39%
ROA(5y)22.95%
ROE(3y)67.23%
ROE(5y)67.14%
ROIC(3y)43.61%
ROIC(5y)44.74%
NOV.DE Yearly ROA, ROE, ROICNOV.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

1.3 Margins

  • With an excellent Profit Margin value of 33.14%, NOV belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of NOV has remained more or less at the same level.
  • With an excellent Operating Margin value of 41.30%, NOV belongs to the best of the industry, outperforming 94.23% of the companies in the same industry.
  • NOV's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of NOV (80.98%) is better than 84.62% of its industry peers.
  • In the last couple of years the Gross Margin of NOV has remained more or less at the same level.
Industry RankSector Rank
OM 41.3%
PM (TTM) 33.14%
GM 80.98%
OM growth 3Y-1.15%
OM growth 5Y-0.81%
PM growth 3Y1.84%
PM growth 5Y-0.03%
GM growth 3Y-1.18%
GM growth 5Y-0.61%
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 2025 20 40 60 80

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4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NOV is creating value.
  • NOV has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for NOV has been increased compared to 5 years ago.
  • Compared to 1 year ago, NOV has a worse debt to assets ratio.
NOV.DE Yearly Shares OutstandingNOV.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 100B 200B 300B 400B 500B

2.2 Solvency

  • NOV has an Altman-Z score of 3.58. This indicates that NOV is financially healthy and has little risk of bankruptcy at the moment.
  • With a Altman-Z score value of 3.58, NOV perfoms like the industry average, outperforming 55.77% of the companies in the same industry.
  • NOV has a debt to FCF ratio of 4.52. This is a neutral value as NOV would need 4.52 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 4.52, NOV is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
  • NOV has a Debt/Equity ratio of 0.61. This is a neutral value indicating NOV is somewhat dependend on debt financing.
  • NOV has a Debt to Equity ratio (0.61) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Altman-Z 3.58
ROIC/WACC4.61
WACC6.68%
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 2025 50B 100B 150B

2.3 Liquidity

  • A Current Ratio of 0.80 indicates that NOV may have some problems paying its short term obligations.
  • NOV has a worse Current ratio (0.80) than 86.54% of its industry peers.
  • A Quick Ratio of 0.57 indicates that NOV may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.57, NOV is not doing good in the industry: 80.77% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.8
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 2025 50B 100B 150B 200B

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

4

3. Growth

3.1 Past

  • NOV shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.77%.
  • Measured over the past years, NOV shows a very strong growth in Earnings Per Share. The EPS has been growing by 20.66% on average per year.
  • Looking at the last year, NOV shows a small growth in Revenue. The Revenue has grown by 6.43% in the last year.
  • Measured over the past years, NOV shows a quite strong growth in Revenue. The Revenue has been growing by 19.48% on average per year.
EPS 1Y (TTM)1.77%
EPS 3Y23.52%
EPS 5Y20.66%
EPS Q2Q%-4.73%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%

3.2 Future

  • The Earnings Per Share is expected to grow by 3.45% on average over the next years.
  • Based on estimates for the next years, NOV will show a small growth in Revenue. The Revenue will grow by 3.58% on average per year.
EPS Next Y-1.09%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
EPS Next 5Y3.45%
Revenue Next Year-3.91%
Revenue Next 2Y0.15%
Revenue Next 3Y2.35%
Revenue Next 5Y3.58%

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
NOV.DE Yearly EPS VS EstimatesNOV.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15 20 25

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6

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 10.38, which indicates a very decent valuation of NOV.
  • NOV's Price/Earnings ratio is rather cheap when compared to the industry. NOV is cheaper than 80.77% of the companies in the same industry.
  • NOV's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.05.
  • The Price/Forward Earnings ratio is 10.49, which indicates a very decent valuation of NOV.
  • NOV's Price/Forward Earnings ratio is rather cheap when compared to the industry. NOV is cheaper than 80.77% of the companies in the same industry.
  • NOV is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.03, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 10.38
Fwd PE 10.49
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 rather cheap when compared to the industry. NOV is cheaper than 80.77% of the companies in the same industry.
  • NOV's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 36.64
EV/EBITDA 7.83
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 excellent profitability rating of NOV may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.5
EPS Next 2Y2.5%
EPS Next 3Y7.19%

More info and screens

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

6

5. Dividend

5.1 Amount

  • NOV has a Yearly Dividend Yield of 3.81%.
  • The stock price of NOV dropped by -24.20% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • NOV's Dividend Yield is rather good when compared to the industry average which is at 1.89. NOV pays more dividend than 80.77% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.80, NOV pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.81%

5.2 History

  • On average, the dividend of NOV grows each year by 19.05%, which is quite nice.
Dividend Growth(5Y)19.05%
Div Incr Years0
Div Non Decr Years0
NOV.DE Yearly Dividends per shareNOV.DE Yearly Dividends per shareYearly Dividends per share 2024 2025 2026 2 4 6 8 10

5.3 Sustainability

  • 50.53% of the earnings are spent on dividend by NOV. This is a bit on the high side, but may be sustainable.
  • The dividend of NOV is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP50.53%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
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 2025 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 (2/26/2026, 2:04:49 PM)

31.975

-0.16 (-0.48%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)02-03
Earnings (Next)05-06
Inst Owners33.25%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap142.18B
Revenue(TTM)309.06B
Net Income(TTM)102.43B
Analysts71.76
Price Target54.04 (69.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.81%
Yearly Dividend1.56
Dividend Growth(5Y)19.05%
DP50.53%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.82%
Min EPS beat(2)-7.04%
Max EPS beat(2)1.39%
EPS beat(4)2
Avg EPS beat(4)-0.71%
Min EPS beat(4)-7.04%
Max EPS beat(4)3.94%
EPS beat(8)5
Avg EPS beat(8)1.01%
EPS beat(12)8
Avg EPS beat(12)1.47%
EPS beat(16)11
Avg EPS beat(16)1.68%
Revenue beat(2)1
Avg Revenue beat(2)-1.06%
Min Revenue beat(2)-3.19%
Max Revenue beat(2)1.07%
Revenue beat(4)1
Avg Revenue beat(4)-0.92%
Min Revenue beat(4)-3.19%
Max Revenue beat(4)1.07%
Revenue beat(8)3
Avg Revenue beat(8)0.15%
Revenue beat(12)6
Avg Revenue beat(12)0.52%
Revenue beat(16)9
Avg Revenue beat(16)0.84%
PT rev (1m)1.22%
PT rev (3m)-6.97%
EPS NQ rev (1m)-4.87%
EPS NQ rev (3m)-16.48%
EPS NY rev (1m)0%
EPS NY rev (3m)-11.16%
Revenue NQ rev (1m)-38.52%
Revenue NQ rev (3m)-52.61%
Revenue NY rev (1m)-4.16%
Revenue NY rev (3m)-10.69%
Valuation
Industry RankSector Rank
PE 10.38
Fwd PE 10.49
P/S 3.44
P/FCF 36.64
P/OCF 8.92
P/B 5.47
P/tB 16.6
EV/EBITDA 7.83
EPS(TTM)3.08
EY9.63%
EPS(NY)3.05
Fwd EY9.54%
FCF(TTM)0.87
FCFY2.73%
OCF(TTM)3.58
OCFY11.21%
SpS9.3
BVpS5.84
TBVpS1.93
PEG (NY)N/A
PEG (5Y)0.5
Graham Number20.12
Profitability
Industry RankSector Rank
ROA 18.87%
ROE 52.79%
ROCE 39.01%
ROIC 30.79%
ROICexc 33.56%
ROICexgc 59.2%
OM 41.3%
PM (TTM) 33.14%
GM 80.98%
FCFM 9.38%
ROA(3y)22.39%
ROA(5y)22.95%
ROE(3y)67.23%
ROE(5y)67.14%
ROIC(3y)43.61%
ROIC(5y)44.74%
ROICexc(3y)50.94%
ROICexc(5y)53.03%
ROICexgc(3y)100.46%
ROICexgc(5y)105.49%
ROCE(3y)55.75%
ROCE(5y)58.53%
ROICexgc growth 3Y-22.89%
ROICexgc growth 5Y-7.78%
ROICexc growth 3Y-18.13%
ROICexc growth 5Y-11.63%
OM growth 3Y-1.15%
OM growth 5Y-0.81%
PM growth 3Y1.84%
PM growth 5Y-0.03%
GM growth 3Y-1.18%
GM growth 5Y-0.61%
F-Score5
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Debt/EBITDA 0.79
Cap/Depr 409.94%
Cap/Sales 29.16%
Interest Coverage 37.34
Cash Conversion 79.59%
Profit Quality 28.3%
Current Ratio 0.8
Quick Ratio 0.57
Altman-Z 3.58
F-Score5
WACC6.68%
ROIC/WACC4.61
Cap/Depr(3y)363.9%
Cap/Depr(5y)282.93%
Cap/Sales(3y)21.19%
Cap/Sales(5y)15.43%
Profit Quality(3y)60.31%
Profit Quality(5y)79.23%
High Growth Momentum
Growth
EPS 1Y (TTM)1.77%
EPS 3Y23.52%
EPS 5Y20.66%
EPS Q2Q%-4.73%
EPS Next Y-1.09%
EPS Next 2Y2.5%
EPS Next 3Y7.19%
EPS Next 5Y3.45%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%
Revenue Next Year-3.91%
Revenue Next 2Y0.15%
Revenue Next 3Y2.35%
Revenue Next 5Y3.58%
EBIT growth 1Y-4.76%
EBIT growth 3Y19.04%
EBIT growth 5Y18.51%
EBIT Next Year13.84%
EBIT Next 3Y11.7%
EBIT Next 5Y6.93%
FCF growth 1Y-58.38%
FCF growth 3Y-23.26%
FCF growth 5Y-0.6%
OCF growth 1Y-1.54%
OCF growth 3Y14.72%
OCF growth 5Y18.05%

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

What is the fundamental rating for NOV stock?

ChartMill assigns a fundamental rating of 6 / 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 decline by -1.09% 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 50.53%.