Novo Nordisk A/S (NVO) Financial Ratios: P/E, ROE & More

Novo Nordisk A/S (NVO) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Novo Nordisk A/S had a P/E ratio of 14.11 (down from 27.45), return on equity of 60.7% (down from 80.8%), debt-to-equity of 0.68 (down from 0.72) and a current ratio of 0.80 (up from 0.74). A current ratio of 0.80 means current liabilities exceed current assets. Its dividend yield was 3.60% with a payout ratio of 50.5%.

Novo Nordisk A/S Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	14.11	27.45	37.19	38.16	35.07	23.41
P/S Ratio	4.68	9.55	13.40	11.97	11.90	7.77
P/B Ratio	7.45	19.32	29.21	25.38	23.68	15.58
Price/Tangible Book	22.58	84.87	67.43	65.10	60.74	23.12
Price/FCF	24.51	37.56	37.45	31.75	34.42	21.39
Price/OCF	12.13	22.92	28.58	26.86	30.45	18.99
Enterprise Value Ratios
EV/Revenue	4.90	9.48	13.31	11.91	11.74	7.60
EV/EBITDA	9.88	18.91	27.92	25.98	25.93	16.48
EV/EBIT	10.77	19.83	29.53	27.87	27.92	17.83
EV/FCF	25.68	37.32	37.20	31.57	33.97	20.93
Profitability & Returns
Return on Equity (ROE)	60.70%	80.78%	88.07%	72.00%	71.24%	69.70%
Return on Assets (ROA)	17.43%	22.26%	23.55%	21.69%	21.81%	25.01%
Return on Invested Capital (ROIC)	42.60%	68.23%	88.56%	73.42%	67.98%	79.85%
Return on Capital Employed (ROCE)	43.00%	56.00%	72.30%	62.80%	62.30%	72.50%
Leverage & Solvency Ratios
Debt/Equity	0.68	0.72	0.25	0.31	0.38	0.16
Debt/EBITDA	0.85	0.70	0.24	0.31	0.41	0.17
Debt/FCF	2.22	1.39	0.33	0.39	0.55	0.23
Liquidity Ratios
Current Ratio	0.80	0.74	0.82	0.90	0.86	0.94
Quick Ratio	0.54	0.53	0.62	0.67	0.65	0.64
Efficiency Ratios
Asset Turnover	0.61	0.74	0.84	0.81	0.83	0.94
Inventory Turnover	1.20	1.20	1.26	1.29	1.24	1.16
Yield & Distribution Ratios
Earnings Yield	7.09%	3.64%	2.69%	2.62%	2.85%	4.27%
FCF Yield	4.08%	2.66%	2.67%	3.15%	2.91%	4.68%
Dividend Yield	3.60%	1.83%	1.35%	1.32%	1.42%	2.28%
Payout Ratio	50.53%	43.71%	37.96%	45.57%	45.06%	47.75%
Buyback Yield	0.34%	0.71%	1.10%	1.34%	1.58%	1.63%
Total Return	3.94%	2.53%	2.44%	2.65%	2.99%	3.90%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Novo Nordisk A/S Financial Ratios

What is Novo Nordisk A/S's P/E ratio?

Novo Nordisk A/S's P/E ratio was 14.11 for fiscal 2025 (period ended Dec 31, 2025). It was 27.45 a year earlier.

What is Novo Nordisk A/S's return on equity?

Novo Nordisk A/S's return on equity (ROE) was 60.7% for fiscal 2025 (period ended Dec 31, 2025). It was 80.8% a year earlier.

What is Novo Nordisk A/S's debt-to-equity ratio?

Novo Nordisk A/S's debt-to-equity ratio was 0.68 for fiscal 2025 (period ended Dec 31, 2025). It was 0.72 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition