--- title: Novo Nordisk (NVO) — stock overview: intrinsic value, grades and financials canonical: https://sweetvaluelab.com/stocks/nvo ticker: NVO as_of: 2026-11-02 sector: Healthcare industry: Drug Manufacturers - General --- # Novo Nordisk (NVO) Novo Nordisk (NVO) closed at $40.00 on Oct 30, 2026. The models produced no usable value for it on this snapshot. In Q2 FY2026, the latest quarter on file, revenue grew 2% on a year earlier to $78.5B, with an operating margin of 34.5%. Over the twelve months to Q2 FY2026, free cash flow was $48.9B. Among the superinvestors tracked here, Dodge & Cox added and Sarah Ketterer added. The latest filing is a 6-K (current report (foreign issuer)), filed Oct 26. The valuation in full, model by model: https://sweetvaluelab.com/stocks/nvo/valuation. ## Key figures | Figure | Value | | --- | ---: | | Last close | $40.00 (Oct 30, 2026) | | Model value (median of the weighted models) | none — unsupported currency | | Price vs model | — | | Range across the models | — | | Market value | $176.4B | | P/E (fiscal 2025) | 14.0 | | Net margin (fiscal 2025) | 33.1% | | Free cash flow (fiscal 2025) | $29.0B | | Dividend yield (trailing twelve months) | 4.49% | | Beta | 0.35 | | Cost of capital (WACC) | — | | Business classification | — | ## The last eight quarters | Quarter | Revenue | Change on a year earlier | Operating margin | | --- | ---: | ---: | ---: | | Q3 FY2024 | $71.3B | — | 47.4% | | Q4 FY2024 | $85.7B | — | 42.9% | | Q1 FY2025 | $78.1B | — | 49.7% | | Q2 FY2025 | $76.9B | — | 43.5% | | Q3 FY2025 | $75.0B | +5.1% | 31.6% | | Q4 FY2025 | $79.1B | −7.6% | 40.1% | | Q1 FY2026 | $96.8B | +24.0% | 61.6% | | Q2 FY2026 | $78.5B | +2.1% | 34.5% | Twelve months to Q2 FY2026, against the twelve before: | Line | Latest | Year before | | --- | ---: | ---: | | Revenue | $329.4B | $311.9B | | Operating income | $142.1B | $142.8B | | Net income | $116.4B | $111.1B | | Free cash flow | $48.9B | $61.6B | | Diluted EPS | $26.19 | $24.94 | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Highest dividend yield | #35 | 4.49% | https://sweetvaluelab.com/lists/highest-dividend-yield | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 4.49% | | Dividends per share, last 12 months | $1.80 | | Dividends / free cash flow (fiscal 2025) | 178.6% | | Raised | 6 years in a row | | Growth over 5 years | 19.5% a year | | Latest payment | $0.5792, ex-date Aug 17, 2026, paid Aug 25, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Aug 16, 2021 | $0.74 | | To Aug 12, 2022 | $0.80 | | To Aug 18, 2023 | $1.03 | | To Aug 16, 2024 | $1.45 | | To Aug 18, 2025 | $1.73 | | Trailing twelve months (to Aug 17, 2026) | $1.80 | ## Wall Street analysts The median of each covering firm's latest price target is $40.00, from 3 firms — the analysts' figure, quoted, and not part of the model value above. Each firm's latest target, the current grades, the grade changes and the consensus revenue and EPS estimates: https://sweetvaluelab.com/stocks/nvo/analysts (Markdown: https://sweetvaluelab.com/stocks/nvo/analysts.md). ## Insider activity (SEC Form 4) No open-market insider buys or sales filed in the past 90 days. ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 26, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/353278/000117184326006813/f6k_102626.htm | | Oct 19, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/353278/000117184326006685/f6k_101926.htm | | Oct 13, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/353278/000117184326006585/f6k_101226.htm | | Oct 6, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/353278/000117184326006440/f6k_100526.htm | | Oct 5, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/353278/000117184326006374/f6k_100226.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Dodge & Cox | 2026-06-30 | 20,397,110 | $977.8M | | Thomas Gayner | 2026-09-30 | 2,869,774 | $108.8M | | Sarah Ketterer | 2026-06-30 | 1,677,615 | $80.4M | | Lee Ainslie | 2026-06-30 | 1,653,872 | $79.3M | 4 tracked managers in all. ## About Novo Nordisk A/S is a global pharmaceutical firm dedicated to the investigation, creation, manufacturing, and distribution of medicinal products across a vast international footprint. Its market presence extends throughout Europe, the Middle East, Africa, various parts of Asia (including Mainland China, Hong Kong, and Taiwan), and North America. The company's operations are structured into two principal business units: Diabetes and Obesity Care, and Rare Disease. The Diabetes and Obesity Care division delivers therapies for diabetes, obesity, cardiovascular ailments, and other emerging therapeutic areas. Meanwhile, the Rare Disease division concentrates on providing treatments for rare blood disorders, uncommon endocrine conditions, and hormone replacement solutions. In addition to its core pharmaceutical offerings, Novo Nordisk produces specialized medical equipment such as insulin pens… --- Source: https://sweetvaluelab.com/stocks/nvo (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.