Novo Nordisk A/S (NVO) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 177.32B | 172.45B | 181.88B | 162.71B | 174.4B | 160.9B | 195.16B | 25.51B | 116.42B | 139.65B | 20.19B | 20.15B | 16.62B | 108.19B | 15.74B | 14.48B | 12.94B | 85.59B | 14.22B | 12.3B |
| Cash & Short-Term Investments | 21.63B | 26.96B | 32.58B | 18.93B | 41.55B | 26.31B | 74.88B | 9B | 9.3B | 30.23B | 6.76B | 5.33B | 4.05B | 23.57B | 4.94B | 4.36B | 3.01B | 17.48B | 5.52B | 4.34B |
| Cash Only | 21.13B | 26.46B | 32.08B | 18.43B | 38.94B | 15.65B | 57.02B | 7.59B | 6.32B | 14.39B | 4.28B | 3.16B | 2.18B | 12.65B | 3.75B | 3.2B | 2B | 10.72B | 4.6B | 3.86B |
| Short-Term Investments | 499M | 498M | 499M | 499M | 2.61B | 10.65B | 17.86B | 1.41B | 2.98B | 15.84B | 2.48B | 2.17B | 1.87B | 10.92B | 1.19B | 1.16B | 1.01B | 6.76B | 919.09M | 476.35M |
| Accounts Receivable | 100.27B | 75.7B | 92.37B | 85.84B | 86.37B | 87.41B | 69.5B | 9.55B | 71.75B | 75.26B | 7.69B | 9.39B | 7.53B | 57.51B | 6.34B | 5.9B | 5.88B | 46.8B | 4.71B | 4.22B |
| Days Sales Outstanding | 81.78 | 97.69 | 109.34 | 101.95 | 100.15 | 84.24 | 50.99 | 54.35 | 102.36 | 57.93 | 13.37 | 14.18 | 54.84 | 61.07 | 12.36 | 13 | 56.41 | 61.82 | 11.53 | 12.32 |
| Inventory | 51.35B | 49.62B | 47.5B | 45.65B | 42.85B | 40.85B | 37.94B | 5.22B | 33.6B | 31.81B | 4.19B | 4.11B | 3.74B | 24.39B | 3.06B | 3.05B | 3.03B | 19.62B | 2.95B | 3B |
| Days Inventory Outstanding | 334.16 | 294.95 | 239.34 | 313.48 | 292.21 | 278.29 | 175.61 | 171.94 | 300.14 | 165.39 | 39.3 | 45.42 | 154.68 | 152.82 | 39.04 | 45.63 | 147.39 | 166.33 | 45.15 | 48.8 |
| Other Current Assets | 4.07B | 20.17B | 9.42B | 12.28B | 3.63B | 6.33B | 2.71B | 1.73B | 1.77B | 2.34B | 1.55B | 1.33B | 1.3B | 9.67B | 1.41B | 1.16B | 1.01B | 1.69B | 1.04B | 744.11M |
| Total Non-Current Assets | 381.9B | 370.45B | 330.4B | 319.45B | 314.77B | 304.9B | 202.28B | 27.58B | 182.5B | 174.84B | 22.42B | 20.98B | 19.85B | 133.06B | 16.25B | 16.3B | 16.54B | 108.91B | 12.92B | 12.91B |
| Property, Plant & Equipment | 219.97B | 208.38B | 193.24B | 180.76B | 172.38B | 162.49B | 119.83B | 15.81B | 98.23B | 90.96B | 11.57B | 10.99B | 10.21B | 66.67B | 8.38B | 8.37B | 8.44B | 55.36B | 8.24B | 8.3B |
| Fixed Asset Turnover | 0.45x | 0.39x | 0.40x | 0.44x | 0.47x | 0.61x | 1.05x | 1.19x | 0.69x | 1.28x | 5.21x | 5.12x | 1.39x | 1.28x | 5.44x | 4.91x | 1.32x | 1.21x | 4.31x | 4.02x |
| Goodwill | 19.88B | 19.84B | 0 | 0 | 0 | 20.06B | 0 | 0 | 0 | 4.46B | 0 | 0 | 0 | 5.09B | 0 | 0 | 0 | 4.35B | 0 | 0 |
| Intangible Assets | 110.03B | 110.21B | 106.59B | 107.87B | 109.38B | 91.03B | 54.49B | 7.98B | 59.64B | 55.94B | 7.91B | 7.44B | 7.36B | 46.32B | 6.18B | 6.27B | 6.48B | 38.83B | 3.2B | 3.23B |
| Long-Term Investments | 2.24B | 2.51B | 2.73B | 2.64B | 2.7B | 2.68B | 2.05B | 238.42M | 1.65B | 1.66B | 208.85M | 216.71M | 176.62M | 1.34B | 163.24M | 174.6M | 191.31M | 1.44B | 277.12M | 293.28M |
| Other Non-Current Assets | 5.99B | 29.51B | 5.08B | 4.44B | 4.04B | 4.02B | 2.46B | 313.01M | 2.01B | 1.43B | 61.05M | 49.52M | 42M | 206M | 32.54M | 35.43M | 35.75M | 267M | 51.74M | 65.86M |
| Total Assets | 559.22B | 542.9B | 512.29B | 482.15B | 489.16B | 465.8B | 397.44B | 53.09B | 298.92B | 314.49B | 42.61B | 41.14B | 36.47B | 241.26B | 31.99B | 30.78B | 29.49B | 194.51B | 27.13B | 25.21B |
| Asset Turnover | 0.18x | 0.15x | 0.15x | 0.16x | 0.16x | 0.20x | 0.32x | 0.39x | 0.21x | 0.37x | 1.40x | 1.40x | 0.38x | 0.35x | 1.45x | 1.37x | 0.38x | 0.35x | 1.36x | 1.39x |
| Asset Growth % | 14.32% | 16.55% | 28.9% | 808.25% | 63.64% | 48.11% | 832.77% | 29.05% | 719.74% | 30.35% | 33.17% | 33.66% | 23.66% | 24.03% | 17.92% | 22.07% | 31.98% | 716.5% | 23.07% | 22.91% |
| Total Current Liabilities | 225.16B | 215.66B | 234.36B | 207.52B | 236.12B | 217.53B | 208.36B | 27.01B | 165.61B | 169.66B | 24.5B | 22.95B | 19.25B | 120.94B | 17.16B | 15.42B | 14.3B | 99.52B | 13.77B | 11.61B |
| Accounts Payable | 134.05B | 19.76B | 23.9B | 28.21B | 19.58B | 28.85B | 24.08B | 4.28B | 13.01B | 25.61B | 2.85B | 2.61B | 1.47B | 15.59B | 1.09B | 2.06B | 999.05M | 8.87B | 1.38B | 1.21B |
| Days Payables Outstanding | 509.01 | 132.59 | 133.88 | 169.24 | 169.04 | 186.93 | 115.35 | 76.54 | 177.17 | 130.74 | 25.86 | 23.58 | 93.79 | 92.88 | 20.16 | 22.93 | 64.21 | 75.58 | 19.72 | 18.78 |
| Short-Term Debt | 27.21B | 12.02B | 12.03B | 11.96B | 22.41B | 11.78B | 5.52B | 783.54M | 10.16B | 5.3B | 938.92M | 921.49M | 182.45M | 480M | 241.51M | 176.57M | 208.81M | 12.86B | 210.41M | 207.48M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 47.75B | 175.47B | 176.09B | 150.43B | 178.63B | 165.85B | 164.11B | 21.1B | 136.47B | 38.14B | 18.96B | 18.01B | 16.71B | 103.89B | 14.85B | 12.62B | 12.4B | 73.3B | 11.24B | 9.72B |
| Current Ratio | 0.79x | 0.80x | 0.78x | 0.78x | 0.74x | 0.74x | 0.94x | 0.94x | 0.70x | 0.82x | 0.82x | 0.88x | 0.86x | 0.89x | 0.92x | 0.94x | 0.91x | 0.86x | 1.03x | 1.06x |
| Quick Ratio | 0.56x | 0.57x | 0.57x | 0.56x | 0.56x | 0.55x | 0.75x | 0.75x | 0.50x | 0.64x | 0.65x | 0.70x | 0.67x | 0.69x | 0.74x | 0.74x | 0.69x | 0.66x | 0.82x | 0.80x |
| Cash Conversion Cycle | -93.07 | 260.04 | 214.8 | 246.19 | 223.31 | 175.6 | 111.25 | 149.75 | 225.33 | 92.58 | 26.81 | 36.01 | 115.73 | 121.01 | 31.24 | 35.69 | 139.59 | 152.57 | 36.96 | 42.34 |
| Total Non-Current Liabilities | 131B | 133.19B | 108.03B | 106.56B | 114.5B | 104.78B | 68.56B | 9.91B | 34.4B | 38.27B | 4.91B | 4.93B | 5.57B | 36.83B | 4.73B | 4.9B | 5.23B | 24.25B | 3.06B | 3.15B |
| Long-Term Debt | 119.17B | 110.37B | 89.18B | 87.31B | 96.31B | 84.25B | 51.45B | 7.42B | 16.76B | 15.98B | 2.83B | 2.84B | 3.54B | 20.77B | 3.18B | 3.4B | 3.6B | 9.65B | 1.93B | 1.99B |
| Capital Lease Obligations | 0 | 8.57B | 0 | 0 | 0 | 5.43B | 0 | 0 | 0 | 4.55B | 0 | 0 | 0 | 3.54B | 0 | 0 | 0 | 3.31B | 0 | 0 |
| Deferred Tax Liabilities | 5.01B | 6.61B | 9.27B | 9.8B | 8.71B | 5.43B | 8.65B | 1.3B | 9.66B | 10.16B | 1.12B | 1.12B | 1.15B | 7.06B | 743.09M | 733.41M | 793.53M | 5.27B | 256.07M | 289.93M |
| Other Non-Current Liabilities | 6.82B | 7.64B | 9.59B | 9.46B | 9.49B | 9.68B | 8.45B | 1.19B | 7.98B | 7.58B | 958.23M | 969.98M | 882.08M | 5.45B | 806.73M | 762.79M | 836.9M | 6.01B | 873.27M | 870.26M |
| Total Liabilities | 356.16B | 348.86B | 342.39B | 314.09B | 350.62B | 322.31B | 276.92B | 36.91B | 200.01B | 207.93B | 29.41B | 27.88B | 24.82B | 157.77B | 21.89B | 20.31B | 19.53B | 123.76B | 16.83B | 14.76B |
| Total Debt | 146.38B | 130.96B | 101.21B | 99.27B | 118.72B | 102.79B | 56.97B | 8.2B | 26.93B | 27.01B | 3.77B | 3.77B | 3.72B | 25.78B | 3.42B | 3.58B | 3.81B | 26.64B | 2.14B | 2.2B |
| Net Debt | 125.25B | 104.49B | 69.13B | 80.83B | 79.78B | 87.13B | -46M | 609.21M | 20.6B | 12.61B | -512.13M | 605.14M | 1.54B | 13.13B | -328.86M | 376.19M | 1.81B | 15.93B | -2.45B | -1.67B |
| Debt / Equity | 0.72x | 0.67x | 0.60x | 0.59x | 0.86x | 0.72x | 0.47x | 0.51x | 0.27x | 0.25x | 0.29x | 0.28x | 0.32x | 0.31x | 0.34x | 0.34x | 0.38x | 0.38x | 0.21x | 0.21x |
| Debt / EBITDA | 2.32x | 3.51x | 3.22x | 2.59x | 2.79x | 2.45x | 1.58x | 0.24x | 0.77x | 0.91x | 0.13x | 0.14x | 0.14x | 1.41x | 0.15x | 0.18x | 0.18x | 1.70x | 0.13x | 0.14x |
| Net Debt / EBITDA | 1.98x | 2.80x | 2.20x | 2.11x | 1.87x | 2.08x | -0.00x | 0.02x | 0.59x | 0.42x | -0.02x | 0.02x | 0.06x | 0.72x | -0.01x | 0.02x | 0.09x | 1.01x | -0.15x | -0.10x |
| Interest Coverage | 18.77x | - | - | 7.82x | 8.15x | 7.98x | 42.88x | 17.22x | 16.39x | 27.86x | 13.94x | 87.31x | 23.05x | 11.33x | 5.84x | 6.16x | 13.46x | 15.01x | 17.30x | - |
| Total Equity | 203.06B | 194.05B | 169.9B | 168.07B | 138.54B | 143.49B | 120.52B | 16.17B | 98.91B | 106.56B | 13.2B | 13.26B | 11.65B | 83.49B | 10.1B | 10.47B | 9.95B | 70.75B | 10.3B | 10.46B |
| Equity Growth % | 46.58% | 35.24% | 40.97% | 939.3% | 40.07% | 34.65% | 812.84% | 21.99% | 749.07% | 27.64% | 30.68% | 26.66% | 17.02% | 18.01% | -1.95% | 0.11% | 7.69% | 579.64% | 9.79% | 15.53% |
| Book Value per Share | 45.65 | 43.63 | 38.21 | 37.79 | 31.16 | 32.17 | 27.02 | 3.62 | 22.13 | 23.80 | 2.94 | 2.94 | 2.58 | 18.46 | 2.23 | 2.30 | 2.18 | 15.43 | 2.24 | 2.27 |
| Total Shareholders' Equity | 203.06B | 194.05B | 169.9B | 168.07B | 138.54B | 143.49B | 120.52B | 16.17B | 98.91B | 106.56B | 13.2B | 13.26B | 11.65B | 83.49B | 10.1B | 10.47B | 9.95B | 70.75B | 10.3B | 10.46B |
| Common Stock | 446M | 446M | 446M | 446M | 446M | 446M | 446M | 64.1M | 451M | 451M | 64.03M | 66.08M | 66.51M | 456M | 60.08M | 64.1M | 69.11M | 462M | 72.01M | 73.68M |
| Retained Earnings | 206.42B | 195.3B | 168.53B | 164.45B | 137.32B | 144.45B | 121.67B | 16.12B | 99.05B | 104.84B | 13.02B | 12.91B | 11.24B | 80.59B | 9.71B | 10.29B | 9.96B | 72B | 10.58B | 10.71B |
| Treasury Stock | -2M | -2M | -2M | -2M | -2M | -2M | -1M | -143.72K | -5M | -5M | -709.9K | -439.57K | -875.08K | -6M | -527.02K | -421.74K | -1.05M | -6M | -623.43K | -478.43K |
| Accumulated OCI | -3.8B | -1.7B | 923M | 3.17B | 777M | -1.41B | -1.59B | -10.49M | -585M | 1.28B | 115M | 279.42M | 343.32M | 2.45B | 336.63M | 117.1M | -77.33M | -1.71B | -352.24M | -331.55M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |