Novo Nordisk (NVO) Stock Buyback History
TTM buyback yield 0.23% · Shareholder yield (TTM) 0.23%.
NVO
TTM buyback yield
0.23%
Shareholder yield (TTM)
0.23%
5Y share count change
-5.0%
TTM buyback spend
$2.40B
SBC coverage (TTM)
N/A
YoY change in spend
-93.1%
5Y CAGR of spend
-39.3%
Peak year (2023)
$29.92B
Cumulative spend
$284.48B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Novo Nordisk (NVO) repurchased about $2.40B 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.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $1.39B | $0.00 | $1.39B | 4.45B | -0.3% | 0.10% |
| 2024 | $20.18B | $2.29B | $17.89B | 4.46B | -0.7% | 0.73% |
| 2023 | $29.92B | $2.15B | $27.77B | 4.49B | -1.1% | 0.97% |
| 2022 | $24.09B | $1.54B | $22.55B | 4.54B | -1.3% | 1.14% |
| 2021 | $19.45B | $1.04B | $18.41B | 4.61B | -1.6% | 1.16% |
| 2020 | $16.86B | $823.00M | $16.03B | 4.68B | -1.6% | 1.71% |
| 2019 | $15.33B | $363.00M | $14.97B | 4.76B | -1.9% | 1.68% |
| 2018 | $15.57B | $414.00M | $15.15B | 4.85B | -2.2% | 2.15% |
| 2017 | $16.84B | $292.00M | $16.55B | 4.96B | -2.2% | 2.03% |
| 2016 | $15.06B | $368.00M | $14.69B | 5.07B | -1.7% | 2.36% |
| 2015 | $17.20B | $442.00M | $16.75B | 5.16B | -2.0% | 1.68% |
| 2014 | $14.67B | $371.00M | $14.30B | 5.26B | -2.4% | 2.15% |
| 2013 | $13.92B | $409.00M | $13.52B | 5.39B | -2.3% | 2.62% |
| 2012 | $11.90B | $308.00M | $11.59B | 5.52B | -3.2% | 2.36% |
| 2011 | $10.60B | $0.00 | $10.60B | 5.70B | -2.6% | 2.84% |
| 2010 | $9.50B | $0.00 | $9.50B | 5.85B | -3.1% | 2.63% |
| 2009 | $6.51B | $0.00 | $6.51B | 6.04B | -3.0% | 3.31% |
| 2008 | $4.73B | $0.00 | $4.73B | 6.23B | -2.1% | 2.80% |
| 2007 | $4.84B | $0.00 | $4.84B | 6.36B | -1.6% | 2.31% |
| 2006 | $3.00B | $0.00 | $3.00B | 6.46B | -2.0% | 1.98% |
| 2005 | $3.01B | $0.00 | $3.01B | 6.59B | -3.0% | 2.61% |
| 2004 | $2.00B | $0.00 | $2.00B | 6.79B | -1.3% | 2.00% |
| 2003 | $1.63B | $0.00 | $1.63B | 6.88B | -1.5% | 1.96% |
| 2002 | $382.20M | $0.00 | $382.20M | 6.98B | 0.7% | 0.61% |
| 2001 | $25.06M | $0.00 | $25.06M | 6.94B | -0.1% | 0.03% |
| 2000 | $2.47B | $0.00 | $2.47B | 6.94B | -1.1% | — |
| 1999 | $1.45B | $0.00 | $1.45B | 7.02B | -4.5% | — |
| 1998 | $1.97B | $0.00 | $1.97B | 7.35B | -2.5% | — |
| 1997 | $0.00 | $0.00 | $0.00 | 7.54B | 0.9% | — |
| 1996 | $0.00 | $0.00 | $0.00 | 7.47B | — | — |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — |
| 1990 | $0.00 | $0.00 | $0.00 | — | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Novo Nordisk (NVO) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Novo Nordisk (NVO)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Novo Nordisk (NVO)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $1.39B | -93.1% | -$18.79B | ||
| 2024 | $20.18B | -32.6% | -$9.74B | ||
| 2023 | $29.92B | +24.2% | +$5.84B | ||
| 2022 | $24.09B | +23.9% | +$4.64B | ||
| 2021 | $19.45B | +15.4% | +$2.59B | ||
| 2020 | $16.86B | +9.9% | +$1.52B | ||
| 2019 | $15.33B | -1.5% | -$233.00M | ||
| 2018 | $15.57B | -7.6% | -$1.28B | ||
| 2017 | $16.84B | +11.9% | +$1.79B | ||
| 2016 | $15.06B | -12.4% | -$2.14B | ||
| 2015 | $17.20B | +17.2% | +$2.53B | ||
| 2014 | $14.67B | +5.3% | +$743.00M | ||
| 2013 | $13.92B | +17.0% | +$2.03B | ||
| 2012 | $11.90B | +12.3% | +$1.30B | ||
| 2011 | $10.60B | +11.5% | +$1.10B | ||
| 2010 | $9.50B | +45.9% | +$2.99B | ||
| 2009 | $6.51B | +37.7% | +$1.78B | ||
| 2008 | $4.73B | -2.4% | -$114.27M | ||
| 2007 | $4.84B | +61.4% | +$1.84B | ||
| 2006 | $3.00B | -0.4% | -$12.83M | ||
| 2005 | $3.01B | +50.8% | +$1.02B | ||
| 2004 | $2.00B | +22.9% | +$371.57M | ||
| 2003 | $1.63B | +325.4% | +$1.24B | ||
| 2002 | $382.20M | +1425.0% | +$357.13M | ||
| 2001 | $25.06M | -99.0% | -$2.45B | ||
| 2000 | $2.47B | +70.5% | +$1.02B | ||
| 1999 | $1.45B | -26.4% | -$519.00M | ||
| 1998 | $1.97B | — | +$1.97B | ||
| 1997 | $0 | — | $0 | ||
| 1996 | $0 | — | $0 | ||
| 1995 | $0 | — | $0 | ||
| 1994 | $0 | — | $0 | ||
| 1993 | $0 | — | $0 | ||
| 1992 | $0 | — | $0 | ||
| 1991 | $0 | — | $0 | ||
| 1990 | $0 | — | — |
2025's annual buyback spend for Novo Nordisk (NVO) came in at $1.39B – 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 in 2023; the latest annual figure is $1.39B in 2025 (95.4% below peak).
Across the available history, buyback spend reached its high of $29.92B in 2023 and its low of $0 in 1990.
Novo Nordisk (NVO) sits 6th of 8 Healthcare peers we track on this metric, against a peer median of $3.55B.
Novo Nordisk Buyback Spend 2025: $1.39B
Novo Nordisk buyback spend in 2025 was $1.39B, plunged 93.1% below 2024.
Novo Nordisk Buyback Spend 2024: $20.18B
Novo Nordisk buyback spend in 2024 was $20.18B, plunged 32.6% below 2023.
Novo Nordisk Buyback Spend 2023: $29.92B
Novo Nordisk buyback spend in 2023 was $29.92B, grew 24.2% from 2022. This figure represents the highest annual value in the available history.
Novo Nordisk Buyback Spend 2022: $24.09B
Novo Nordisk buyback spend in 2022 was $24.09B, grew 23.9% from 2021.
Novo Nordisk Buyback Spend 2021: $19.45B
Novo Nordisk buyback spend in 2021 was $19.45B.
See more financial history for Novo Nordisk (NVO).
Sector peers by buyback spend
Companies in the same sector as Novo Nordisk, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Johnson & Johnson (JNJ) | $5.95B | Healthcare |
| UnitedHealth Group (UNH) | $5.54B | Healthcare |
| Merck & Co. (MRK) | $5.08B | Healthcare |
| Eli Lilly (LLY) | $4.11B | Healthcare |
| Thermo Fisher Scientific (TMO) | $3.00B | Healthcare |
| AbbVie (ABBV) | $980.00M | Healthcare |
| AstraZeneca (AZN) | $719.66M | Healthcare |
| Amgen (AMGN) | $0 | Healthcare |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
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.
Dividend & buyback yield over time
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.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: N/A.
Capital allocation mix
How Novo Nordisk splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
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 (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Novo Nordisk's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Novo Nordisk buy back its own stock?
Yes, Novo Nordisk (NVO) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Novo Nordisk spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $2.40B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Novo Nordisk's buyback yield?
TTM buyback yield is about 0.23% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Novo Nordisk's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 0.23% combined (TTM-based where available).
Is Novo Nordisk diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Novo Nordisk's share count changed?
Diluted weighted average shares changed by about -5.0% over roughly five fiscal years (annual income statement data).
What is Novo Nordisk's buyback spend?
Latest reported buyback spend for Novo Nordisk (NVO) is $2.40B (period ending March 31, 2026).
How has Novo Nordisk buyback spend changed year-over-year?
Novo Nordisk (NVO) buyback spend changed -93.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Novo Nordisk buyback spend?
Novo Nordisk (NVO) buyback spend compound annual growth rate is -39.3% over the most recent 5 years available.
When did Novo Nordisk buyback spend hit its highest annual value?
Novo Nordisk buyback spend reached its highest annual value of $29.92B in 2023.
What was Novo Nordisk buyback spend in 2024?
Novo Nordisk (NVO) buyback spend in 2024 was $20.18B.
What was Novo Nordisk buyback spend in 2025?
Novo Nordisk (NVO) buyback spend in 2025 was $1.39B.
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