Novo Nordisk A/S (NVO) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	329.4B	309.1B	290.4B	232.3B	177.0B
Cost of Revenue	63.8B	58.8B	44.5B	35.8B	28.4B
Gross Profit	265.7B	250.3B	245.9B	196.5B	148.5B
Operating Expenses
R&D Expense	58.1B	52.0B	48.1B	32.4B	24.0B
SG&A Expense	64.8B	70.3B	67.4B	61.6B	50.7B
General & Admin Expense	5.9B	6.0B	5.3B	4.9B	4.5B
Selling & Marketing Expense	59.0B	64.3B	62.1B	56.7B	46.2B
Other Expenses	631.0M	300.0M	2.1B	(119.0M)	(1.0B)
Total Operating Expenses	123.6B	122.6B	117.5B	93.9B	73.7B
Cost and Expenses	187.3B	181.4B	162.1B	129.7B	102.1B
Operating Income (EBIT)	142.1B	127.7B	128.3B	102.6B	74.8B
Non-Operating
Interest Income	11.7B	1.3B	1.8B	1.1B	239.0M
Interest Expense	5.0B	4.2B	1.6B	542.0M	378.0M
Net Interest Income	6.7B	(2.9B)	198.0M	527.0M	(139.0M)
Other Non-Op Income/Expense	6.7B	2.9B	(1.1B)	2.1B	(5.7B)
Non-Operating Income (excl Interest)	(11.7B)	(7.1B)	(492.0M)	(2.6B)	5.4B
EBT (Pre-Tax Income)	148.7B	130.5B	127.2B	104.7B	69.1B
Income Tax Expense	32.3B	28.1B	26.2B	21.0B	13.5B
Bottom Line
Net Income	116.4B	102.4B	101.0B	83.7B	55.5B
Earnings from Cont. Ops	116.4B	102.4B	101.0B	83.7B	55.5B
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	116.4B	102.4B	101.0B	83.7B	55.5B
Per Share
Basic EPS	$26.23	$23.06	$22.67	$18.67	$12.26
Diluted EPS	$26.19	$23.03	$22.63	$18.62	$12.22
Revenue Per Share	$74.40	$69.49	$65.20	$51.81	$39.06
Shares
Basic Shares Outstanding	4.4B	4.4B	4.5B	4.5B	4.5B
Diluted Shares Outstanding	4.4B	4.4B	4.5B	4.5B	4.5B
Profitability Metrics
EBITDA	180.9B	156.7B	147.9B	114.6B	76.8B
D&A	27.2B	22.0B	19.1B	9.4B	7.4B
EBIT	153.7B	134.7B	128.8B	105.2B	69.4B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026