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

FRA:NOV • DK0062498333

Current stock price

34.62 EUR
+1.64 (+4.97%)
Last:

This NOV.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. NOV.DE Profitability Analysis

1.1 Basic Checks

  • NOV had positive earnings in the past year.
  • In the past year NOV had a positive cash flow from operations.
  • NOV had positive earnings in each of the past 5 years.
  • 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

  • NOV's Return On Assets of 18.87% is amongst the best of the industry. NOV outperforms 100.00% of its industry peers.
  • Looking at the Return On Equity, with a value of 52.79%, NOV belongs to the top of the industry, outperforming 94.12% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 30.79%, NOV belongs to the best of the industry, outperforming 96.08% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for NOV is significantly above the industry average of 13.61%.
  • The last Return On Invested Capital (30.79%) for NOV is well below the 3 year average (43.61%), which needs to be investigated, but indicates that NOV had better years and this may not be a problem.
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

  • NOV has a Profit Margin of 33.14%. This is amongst the best in the industry. NOV outperforms 100.00% of its industry peers.
  • 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 96.08% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NOV has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 80.98%, NOV belongs to the top of the industry, outperforming 84.31% of the companies in the same industry.
  • NOV's Gross Margin has been stable in the last couple of years.
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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3

2. NOV.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NOV is creating value.
  • The number of shares outstanding for NOV remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for NOV has been increased compared to 5 years ago.
  • The debt/assets ratio for NOV is higher compared to a year ago.
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

  • An Altman-Z score of 3.19 indicates that NOV is not in any danger for bankruptcy at the moment.
  • NOV has a Altman-Z score of 3.19. This is comparable to the rest of the industry: NOV outperforms 50.98% of its industry peers.
  • The Debt to FCF ratio of NOV is 4.52, which is a neutral value as it means it would take NOV, 4.52 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 4.52, NOV perfoms like the industry average, outperforming 52.94% 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 comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 4.52
Altman-Z 3.19
ROIC/WACC4.92
WACC6.26%
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 82.35% of its industry peers.
  • NOV has a Quick Ratio of 0.80. This is a bad value and indicates that NOV is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NOV has a Quick ratio of 0.57. This is amonst the worse of the industry: NOV underperforms 84.31% of its industry peers.
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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4

3. NOV.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 1.77% over the past year.
  • NOV shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.66% yearly.
  • The Revenue has been growing slightly by 6.43% in the past year.
  • NOV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.48% yearly.
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

  • Based on estimates for the next years, NOV will show a small growth in Earnings Per Share. The EPS will grow by 5.80% on average per year.
  • Based on estimates for the next years, NOV will show a small growth in Revenue. The Revenue will grow by 4.07% on average per year.
EPS Next Y-7.2%
EPS Next 2Y-3.65%
EPS Next 3Y0.38%
EPS Next 5Y5.8%
Revenue Next Year-6.27%
Revenue Next 2Y-1.41%
Revenue Next 3Y1.06%
Revenue Next 5Y4.07%

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 10 20 30

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5

4. NOV.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 11.24, the valuation of NOV can be described as reasonable.
  • Based on the Price/Earnings ratio, NOV is valued cheaply inside the industry as 84.31% of the companies are valued more expensively.
  • NOV's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.42.
  • A Price/Forward Earnings ratio of 12.11 indicates a correct valuation of NOV.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NOV indicates a somewhat cheap valuation: NOV is cheaper than 78.43% of the companies listed in the same industry.
  • NOV's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.24.
Industry RankSector Rank
PE 11.24
Fwd PE 12.11
NOV.DE Price Earnings VS Forward Price EarningsNOV.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOV indicates a rather cheap valuation: NOV is cheaper than 96.08% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, NOV is valued a bit more expensive than the industry average as 62.75% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 30.26
EV/EBITDA 6.28
NOV.DE Per share dataNOV.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The excellent profitability rating of NOV may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.54
EPS Next 2Y-3.65%
EPS Next 3Y0.38%

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

7

5. NOV.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.55%, NOV is a good candidate for dividend investing.
  • The stock price of NOV dropped by -35.58% 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 84.31% of the companies in the same industry.
  • NOV's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 4.55%

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 Years1
Div Non Decr Years1
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.
  • NOV's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP50.53%
EPS Next 2Y-3.65%
EPS Next 3Y0.38%
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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NOV.DE Fundamentals: All Metrics, Ratios and Statistics

NOVO NORDISK A/S-B

FRA:NOV (4/24/2026, 7:00:00 PM)

34.62

+1.64 (+4.97%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)02-03
Earnings (Next)05-06
Inst Owners31.87%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap117.37B
Revenue(TTM)309.06B
Net Income(TTM)102.43B
Analysts67.57
Price Target42.87 (23.83%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.55%
Yearly Dividend1.56
Dividend Growth(5Y)19.05%
DP50.53%
Div Incr Years1
Div Non Decr Years1
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)-13.2%
PT rev (3m)-19.72%
EPS NQ rev (1m)7.21%
EPS NQ rev (3m)8.05%
EPS NY rev (1m)-3.37%
EPS NY rev (3m)-7.21%
Revenue NQ rev (1m)2.35%
Revenue NQ rev (3m)-49.81%
Revenue NY rev (1m)-1.7%
Revenue NY rev (3m)-6.51%
Valuation
Industry RankSector Rank
PE 11.24
Fwd PE 12.11
P/S 2.84
P/FCF 30.26
P/OCF 7.36
P/B 4.52
P/tB 13.71
EV/EBITDA 6.28
EPS(TTM)3.08
EY8.9%
EPS(NY)2.86
Fwd EY8.26%
FCF(TTM)1.14
FCFY3.31%
OCF(TTM)4.7
OCFY13.58%
SpS12.2
BVpS7.66
TBVpS2.53
PEG (NY)N/A
PEG (5Y)0.54
Graham Number23.039 (-33.45%)
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 3.19
F-Score5
WACC6.26%
ROIC/WACC4.92
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-7.2%
EPS Next 2Y-3.65%
EPS Next 3Y0.38%
EPS Next 5Y5.8%
Revenue 1Y (TTM)6.43%
Revenue growth 3Y20.43%
Revenue growth 5Y19.48%
Sales Q2Q%-7.63%
Revenue Next Year-6.27%
Revenue Next 2Y-1.41%
Revenue Next 3Y1.06%
Revenue Next 5Y4.07%
EBIT growth 1Y-4.76%
EBIT growth 3Y19.04%
EBIT growth 5Y18.51%
EBIT Next Year8.72%
EBIT Next 3Y6.24%
EBIT Next 5Y7.75%
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 Fundamental Analysis 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 5 / 10 to NOVO NORDISK A/S-B (NOV.DE). This can be considered as Fairly Valued.


How profitable is NOVO NORDISK A/S-B (NOV.DE) stock?

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


What is the financial health of NOVO NORDISK A/S-B (NOV.DE) stock?

The financial health rating of NOVO NORDISK A/S-B (NOV.DE) is 3 / 10.


Can you provide the dividend sustainability for NOV stock?

The dividend rating of NOVO NORDISK A/S-B (NOV.DE) is 7 / 10 and the dividend payout ratio is 50.53%.