Novo Nordisk (NVO): analysis in plain words
Is Novo Nordisk cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Novo Nordisk (NVO) is listed on the NYSE and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Novo Nordisk according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Novo Nordisk (NVO) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $42.18 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 10.3x | Price over earnings per share |
| Revenue growth | +2.1% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 35.3% | Profit for every 100 of sales |
| Net debt / EBITDA | 0.5x | Years of operating profit to repay debt |
| Dividend yield | 4.47% | Annual dividend over price |
| Market cap | $186.0 billion | What the stock market values it at |
The Novo Nordisk figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any NVO figure that is not available shows as N/A: we do not estimate it.
How Novo Nordisk makes money
Danish drugmaker Novo Nordisk reports two segments: Diabetes and Obesity care, its largest, with insulins and the drugs Ozempic, Rybelsus and Wegovy; and Rare Disease, with treatments for hemophilia and growth disorders. The United States is its biggest market, ahead of Europe, China and the rest of the world. Its ADRs trade in New York.
Over the last 12 months, Novo Nordisk brought in revenue of DKK 329.4 billion. For every 100 it sells, Novo Nordisk keeps 82.0 after the direct cost of what it sells (gross margin) and 42.5 after all operating costs (operating margin).
Novo Nordisk against its sector
To know whether a Novo Nordisk figure is high or low you have to put it next to similar companies. This table compares Novo Nordisk with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Novo Nordisk | healthcare and pharma median |
|---|---|---|
| P/E | 10.3x | 31.3x (30) |
| Revenue growth | +2.1% | +8.3% (33) |
| Net margin | 35.3% | 14.9% (33) |
| Dividend yield | 4.47% | 1.52% (33) |
| Net debt / EBITDA | 0.5x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Novo Nordisk trades on a lower P/E, grows more slowly and earns a wider margin. By size, Novo Nordisk ranks number 10 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Novo Nordisk
These are the strengths in the Novo Nordisk figures as of November 4, 2026:
- Its net margin over the last 12 months is 35.3% (sector median: 14.9%): Novo Nordisk turns a large share of its sales into profit.
- On a P/E basis Novo Nordisk trades cheaper than its sector: 10.3x its annual earnings, against 31.3x for the healthcare and pharma median (30 companies with data).
- Analysts expect Novo Nordisk earnings to rise: its P/E on the next 12 months of estimated earnings is 1.8x, below the current 10.3x.
The main risk for Novo Nordisk
Novo Nordisk stock sits 34% below its 52-week high ($64.16): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of healthcare and pharma, Novo Nordisk is exposed to a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Novo Nordisk
Is it a good time to buy Novo Nordisk stock?
Fintols does not tell you whether to buy or sell Novo Nordisk, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Novo Nordisk stock trades at $42.18, 34% below its 52-week high ($64.16) and 20% above its low ($35.12). Its P/E is 10.3x against a healthcare and pharma median of 31.3x, and 1.8x on the earnings analysts expect over the next 12 months. With Novo Nordisk, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Novo Nordisk pay a dividend?
Yes. As of November 4, 2026, Novo Nordisk pays $1.80 per share a year, which at today's price is a yield of 4.47%. It uses 45% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Novo Nordisk stock expensive?
It depends on what you compare it with. On P/E, Novo Nordisk trades at 10.3x its last 12 months of earnings: cheaper than the healthcare and pharma median (31.3x). A high P/E alone does not make Novo Nordisk expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Novo Nordisk's competitors?
On Fintols we compare Novo Nordisk with Vertex, Boston Scientific and Stryker, which are also in healthcare and pharma. As of November 4, 2026, Vertex is worth $139.2 billion and trades on a P/E of 36.8; Boston Scientific is worth $66.4 billion and trades on a P/E of 19.3; Stryker is worth $129.3 billion and trades on a P/E of 36.2. Each has a side-by-side comparison with Novo Nordisk below.
Novo Nordisk competitors
- Vertex (VRTX) analysis · Novo Nordisk vs Vertex comparison
- Boston Scientific (BSX) analysis · Novo Nordisk vs Boston Scientific comparison
- Stryker (SYK) analysis · Novo Nordisk vs Stryker comparison
To understand Novo Nordisk better
- DCF and WACC Explained: A Practical Valuation Guide
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like Novo Nordisk: healthcare and pharma stocks. Open the full NVO analysis with its valuation and scenarios. Educational content about Novo Nordisk, not investment advice.