Buyback yield (TTM)
0.23%
Shareholder yield (TTM)
5.13%
5Y share count change
-5.0%
Buyback spend (TTM)
2.40B DKK
Cumulative buybacks
284.48B DKK
Key takeaways
- Novo Nordisk (NVO) repurchased about 2.40B DKK of stock over the trailing twelve months.
- Diluted share count is down 5.0% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- Cash buyback spend has compounded at -39.3% per year over the latest 5-year window.
Dividend & buyback yield over time for Novo Nordisk (NVO)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Novo Nordisk (NVO)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Novo Nordisk (NVO)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Novo Nordisk (NVO)
Latest: 1.39B DKK
Overview
2025's annual buyback spend for Novo Nordisk (NVO) came in at 1.39B DKK – plunged 93.1% year-over-year.
Novo Nordisk buyback spend compound annual growth for the 2020–2025 (5 years) window is -39.3%, with a net decline across the window.
Novo Nordisk buyback spend peaked at 29.92B DKK in 2023; the latest annual figure is 1.39B DKK in 2025 (95.4% below peak).
Across the available history, buyback spend reached its high of 29.92B DKK in 2023 and its low of 0.00 DKK in 1990.
Novo Nordisk Buyback Spend 2025: 1.39B DKK
2025's buyback spend for Novo Nordisk came in at 1.39B DKK, plunged 93.1% below 2024.
Novo Nordisk Buyback Spend 2024: 20.18B DKK
Novo Nordisk posted buyback spend of 20.18B DKK in 2024, plunged 32.6% below 2023.
Novo Nordisk Buyback Spend 2023: 29.92B DKK
In 2023, Novo Nordisk reported buyback spend of 29.92B DKK, grew 24.2% from 2022. This figure represents the highest annual value in the available history.
Novo Nordisk Buyback Spend 2022: 24.09B DKK
Novo Nordisk buyback spend in 2022 was 24.09B DKK, grew 23.9% from 2021.
Novo Nordisk Buyback Spend 2021: 19.45B DKK
Novo Nordisk buyback spend in 2021 was 19.45B DKK.
See more financial history for Novo Nordisk (NVO).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | 1.39B DKK | 0.00 DKK | 1.39B DKK | 0.10% | 4.45B | -0.3% | |
| 2024 | 20.18B DKK | 2.29B DKK | 17.89B DKK | 0.73% | 4.46B | -0.7% | |
| 2023 | 29.92B DKK | 2.15B DKK | 27.77B DKK | 0.97% | 4.49B | -1.1% | |
| 2022 | 24.09B DKK | 1.54B DKK | 22.55B DKK | 1.14% | 4.54B | -1.3% | |
| 2021 | 19.45B DKK | 1.04B DKK | 18.41B DKK | 1.16% | 4.61B | -1.6% | |
| 2020 | 16.86B DKK | 823.00M DKK | 16.03B DKK | 1.71% | 4.68B | -1.6% | |
| 2019 | 15.33B DKK | 363.00M DKK | 14.97B DKK | 1.68% | 4.76B | -1.9% | |
| 2018 | 15.57B DKK | 414.00M DKK | 15.15B DKK | 2.15% | 4.85B | -2.2% | |
| 2017 | 16.84B DKK | 292.00M DKK | 16.55B DKK | 2.03% | 4.96B | -2.2% | |
| 2016 | 15.06B DKK | 368.00M DKK | 14.69B DKK | 2.36% | 5.07B | -1.7% | |
| 2015 | 17.20B DKK | 442.00M DKK | 16.75B DKK | 1.68% | 5.16B | -2.0% | |
| 2014 | 14.67B DKK | 371.00M DKK | 14.30B DKK | 2.15% | 5.26B | -2.4% | |
| 2013 | 13.92B DKK | 409.00M DKK | 13.52B DKK | 2.62% | 5.39B | -2.3% | |
| 2012 | 11.90B DKK | 308.00M DKK | 11.59B DKK | 2.36% | 5.52B | -3.2% | |
| 2011 | 10.60B DKK | 0.00 DKK | 10.60B DKK | 2.84% | 5.70B | -2.6% | |
| 2010 | 9.50B DKK | 0.00 DKK | 9.50B DKK | 2.63% | 5.85B | -3.1% | |
| 2009 | 6.51B DKK | 0.00 DKK | 6.51B DKK | 3.31% | 6.04B | -3.0% | |
| 2008 | 4.73B DKK | 0.00 DKK | 4.73B DKK | 2.80% | 6.23B | -2.1% | |
| 2007 | 4.84B DKK | 0.00 DKK | 4.84B DKK | 2.31% | 6.36B | -1.6% | |
| 2006 | 3.00B DKK | 0.00 DKK | 3.00B DKK | 1.98% | 6.46B | -2.0% | |
| 2005 | 3.01B DKK | 0.00 DKK | 3.01B DKK | 2.61% | 6.59B | -3.0% | |
| 2004 | 2.00B DKK | 0.00 DKK | 2.00B DKK | 2.00% | 6.79B | -1.3% | |
| 2003 | 1.63B DKK | 0.00 DKK | 1.63B DKK | 1.96% | 6.88B | -1.5% | |
| 2002 | 382.20M DKK | 0.00 DKK | 382.20M DKK | 0.61% | 6.98B | +0.7% | |
| 2001 | 25.06M DKK | 0.00 DKK | 25.06M DKK | 0.03% | 6.94B | -0.1% | |
| 2000 | 2.47B DKK | 0.00 DKK | 2.47B DKK | — | 6.94B | -1.1% | |
| 1999 | 1.45B DKK | 0.00 DKK | 1.45B DKK | — | 7.02B | -4.5% | |
| 1998 | 1.97B DKK | 0.00 DKK | 1.97B DKK | — | 7.35B | -2.5% | |
| 1997 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | 7.54B | +0.9% | |
| 1996 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | 7.47B | — | |
| 1995 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — | |
| 1994 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — | |
| 1993 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — | |
| 1992 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — | |
| 1991 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — | |
| 1990 | 0.00 DKK | 0.00 DKK | 0.00 DKK | — | — | — |
- 20251.39B DKK
- 202420.18B DKK
- 202329.92B DKK
- 202224.09B DKK
- 202119.45B DKK
- 202016.86B DKK
- 201915.33B DKK
- 201815.57B DKK
- 201716.84B DKK
- 201615.06B DKK
- 201517.20B DKK
- 201414.67B DKK
- 201313.92B DKK
- 201211.90B DKK
- 201110.60B DKK
- 20109.50B DKK
- 20096.51B DKK
- 20084.73B DKK
- 20074.84B DKK
- 20063.00B DKK
- 20053.01B DKK
- 20042.00B DKK
- 20031.63B DKK
- 2002382.20M DKK
- 200125.06M DKK
- 20002.47B DKK
- 19991.45B DKK
- 19981.97B DKK
- 19970.00 DKK
- 19960.00 DKK
- 19950.00 DKK
- 19940.00 DKK
- 19930.00 DKK
- 19920.00 DKK
- 19910.00 DKK
- 19900.00 DKK
Buybacks vs stock-based compensation for Novo Nordisk (NVO)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Buybacks vs dividends (share of cash returned) for Novo Nordisk (NVO)
How Novo Nordisk splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Novo Nordisk, ranked by their latest buyback spend.
| $5.95B | |
| $5.54B | |
| $5.08B | |
| $4.11B | |
| $3.00B | |
| $980.00M | |
| $0.00 | |
| $0.00 |
- $5.95B
- $5.54B
- $5.08B
- $4.11B
- $980.00M
- $0.00
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom 0.00 DKK (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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