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Novo Nordisk Valuation Multiples

Discover revenue and EBITDA valuation multiples for Novo Nordisk and similar public comparables like Armata Pharmaceuticals, Vivoryon Therapeutics, and Pharming.

Novo Nordisk Overview

About Novo Nordisk

With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting less than 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.


Founded

1931

HQ

Denmark
Employees

77.3K+

Website

novonordisk.com

Financials

LTM Revenue $46.4B

LTM EBITDA $22.8B

EV

$315B

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Novo Nordisk Financials

Novo Nordisk has a last 12-month revenue of $46.4B and a last 12-month EBITDA of $22.8B.

In the most recent fiscal year, Novo Nordisk achieved revenue of $43.7B and an EBITDA of $20.7B.

Novo Nordisk expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Novo Nordisk P&L

LTM NTM FY 2025 FY 2026 FY 2027
Revenue $46.4B XXX XXX XXX XXX
Gross Profit $39.1B XXX XXX XXX XXX
Gross Margin 84% XXX XXX XXX XXX
EBITDA $22.8B XXX XXX XXX XXX
EBITDA Margin 49% XXX XXX XXX XXX
EBIT $20.7B XXX XXX XXX XXX
EBIT Margin 45% XXX XXX XXX XXX
Net Profit $16.2B XXX XXX XXX XXX
Net Margin 35% XXX XXX XXX XXX
Net Debt $12.1B XXX XXX XXX XXX

Financial data powered by Morningstar, Inc.

Novo Nordisk Stock Performance

As of May 30, 2025, Novo Nordisk's stock price is DKK 454 (or $68).

Novo Nordisk has current market cap of DKK 2.02T (or $304B), and EV of DKK 2.09T (or $315B).

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Novo Nordisk Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$315B $304B XXX XXX XXX XXX $3.64

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Novo Nordisk Valuation Multiples

As of May 30, 2025, Novo Nordisk has market cap of $304B and EV of $315B.

Novo Nordisk's trades at 6.8x EV/LTM Revenue multiple, and 13.8x EV/LTM EBITDA.

Equity research analysts estimate Novo Nordisk's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Novo Nordisk has a P/E ratio of 18.8x.

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Novo Nordisk Financial Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Market cap (current) $304B XXX XXX XXX XXX
EV (current) $315B XXX XXX XXX XXX
EV/Revenue 6.8x XXX XXX XXX XXX
EV/EBITDA 13.8x XXX XXX XXX XXX
EV/EBIT 15.2x XXX XXX XXX XXX
EV/Gross Profit 8.1x XXX XXX XXX XXX
P/E 18.8x XXX XXX XXX XXX
EV/FCF 111.6x XXX XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Novo Nordisk Margins & Growth Rates

Novo Nordisk's last 12 month revenue growth is 15%

Novo Nordisk's revenue per employee for the last 12 months averaged $0.6M, while opex per employee averaged $0.2M for the same period.

Novo Nordisk's rule of 40 is 64% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Novo Nordisk's rule of X is 87% (another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Novo Nordisk Operational Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Revenue Growth 15% XXX XXX XXX XXX
EBITDA Margin 49% XXX XXX XXX XXX
EBITDA Growth 17% XXX XXX XXX XXX
Rule of 40 64% XXX XXX XXX XXX
Bessemer Rule of X 87% XXX XXX XXX XXX
Revenue per Employee $0.6M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue 21% XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 17% XXX XXX XXX XXX
Opex to Revenue 40% XXX XXX XXX XXX

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Novo Nordisk Public Comps

See public comps and valuation multiples for Biopharmaceuticals and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
Armata Pharmaceuticals XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Novo Nordisk M&A and Investment Activity

Novo Nordisk acquired  XXX companies to date.

Last acquisition by Novo Nordisk was  XXXXXXXX, XXXXX XXXXX XXXXXX . Novo Nordisk acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Novo Nordisk

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Novo Nordisk

When was Novo Nordisk founded? Novo Nordisk was founded in 1931.
Where is Novo Nordisk headquartered? Novo Nordisk is headquartered in Denmark.
How many employees does Novo Nordisk have? As of today, Novo Nordisk has 77.3K+ employees.
Who is the CEO of Novo Nordisk? Novo Nordisk's CEO is Mr. Lars Fruergaard Jorgensen.
Is Novo Nordisk publicy listed? Yes, Novo Nordisk is a public company listed on CSE.
What is the stock symbol of Novo Nordisk? Novo Nordisk trades under NOVO B ticker.
When did Novo Nordisk go public? Novo Nordisk went public in 1993.
Who are competitors of Novo Nordisk? Similar companies to Novo Nordisk include e.g. Julphar, Galapagos, Pharming, Vivoryon Therapeutics.
What is the current market cap of Novo Nordisk? Novo Nordisk's current market cap is $304B
What is the current revenue of Novo Nordisk? Novo Nordisk's last 12 months revenue is $46.4B.
What is the current revenue growth of Novo Nordisk? Novo Nordisk revenue growth (NTM/LTM) is 15%.
What is the current EV/Revenue multiple of Novo Nordisk? Current revenue multiple of Novo Nordisk is 6.8x.
Is Novo Nordisk profitable? Yes, Novo Nordisk is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Novo Nordisk? Novo Nordisk's last 12 months EBITDA is $22.8B.
What is Novo Nordisk's EBITDA margin? Novo Nordisk's last 12 months EBITDA margin is 49%.
What is the current EV/EBITDA multiple of Novo Nordisk? Current EBITDA multiple of Novo Nordisk is 13.8x.
What is the current FCF of Novo Nordisk? Novo Nordisk's last 12 months FCF is $2.8B.
What is Novo Nordisk's FCF margin? Novo Nordisk's last 12 months FCF margin is 6%.
What is the current EV/FCF multiple of Novo Nordisk? Current FCF multiple of Novo Nordisk is 111.6x.

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