Capital Expenditures for Novo Nordisk (NVO)
According to Novo Nordisk's latest reported financial statements, the company's current capital expenditures (TTM) is $90.11B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
NVO
Currently viewingCapital ExpendituresSwitch metric
Latest period
$90.11B
YoY change
+75.6%
5Y CAGR
+32.5%
Peak year (2025)
$90.11B
Cumulative capital expenditures
$339.84B
CapEx history chart for Novo Nordisk (NVO) from 1990 to 2025
CapEx history table for Novo Nordisk (NVO) from 1990 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $90.11B | +75.6% | ||
| 2024 | $51.31B | +31.9% | ||
| 2023 | $38.90B | +163.6% | ||
| 2022 | $14.75B | +99.8% | ||
| 2021 | $7.38B | -66.6% | ||
| 2020 | $22.08B | +96.6% | ||
| 2019 | $11.23B | -9.5% | ||
| 2018 | $12.41B | +43.5% | ||
| 2017 | $8.65B | +4.6% | ||
| 2016 | $8.27B | +29.1% | ||
| 2015 | $6.41B | +47.8% | ||
| 2014 | $4.33B | +19.0% | ||
| 2013 | $3.64B | +0.6% | ||
| 2012 | $3.62B | +8.7% | ||
| 2011 | $3.33B | -14.5% | ||
| 2010 | $3.90B | +27.1% | ||
| 2009 | $3.06B | +50.0% | ||
| 2008 | $2.04B | -15.9% | ||
| 2007 | $2.43B | -26.8% | ||
| 2006 | $3.32B | -14.9% | ||
| 2005 | $3.90B | +23.2% | ||
| 2004 | $3.16B | +25.8% | ||
| 2003 | $2.51B | -36.4% | ||
| 2002 | $3.95B | +0.4% | ||
| 2001 | $3.93B | +66.3% | ||
| 2000 | $2.37B | +22.6% | ||
| 1999 | $1.93B | -9.8% | ||
| 1998 | $2.14B | -18.1% | ||
| 1997 | $2.61B | +27.4% | ||
| 1996 | $2.05B | +36.8% | ||
| 1995 | $1.50B | -13.8% | ||
| 1994 | $1.74B | -27.6% | ||
| 1993 | $2.40B | +22.9% | ||
| 1992 | $1.95B | +44.6% | ||
| 1991 | $1.35B | +15.3% | ||
| 1990 | $1.17B | — |
CapEx values are taken from Novo Nordisk's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in DKK as filed.
Analysis
Novo Nordisk (NVO) most recent annual capital expenditures stands at $90.11B (2025) – surged 75.6% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Novo Nordisk capital expenditures compounded at +32.5% per year, sustaining 4 straight years of year-over-year growth.
Across the available history, capital expenditures reached its high of $90.11B in 2025 and its low of $1.17B in 1990.
Novo Nordisk (NVO) sits 1st of 8 Healthcare peers we track on this metric, against a peer median of $3.22B.
Novo Nordisk Capital Expenditures by Year
Novo Nordisk Capital Expenditures 2025: $90.11B
Novo Nordisk capital expenditures in 2025 was $90.11B, surged 75.6% from 2024. This figure represents the highest annual value in the available history.
Novo Nordisk Capital Expenditures 2024: $51.31B
Novo Nordisk capital expenditures in 2024 was $51.31B, surged 31.9% from 2023.
Novo Nordisk Capital Expenditures 2023: $38.90B
Novo Nordisk capital expenditures in 2023 was $38.90B, surged 163.6% from 2022.
Novo Nordisk Capital Expenditures 2022: $14.75B
Novo Nordisk capital expenditures in 2022 was $14.75B, surged 99.8% from 2021.
Novo Nordisk Capital Expenditures 2021: $7.38B
Novo Nordisk capital expenditures in 2021 was $7.38B.
See more financial history for Novo Nordisk (NVO).
Sector peers — CapEx
Companies in the same sector as Novo Nordisk, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Eli Lilly and Company (LLY) | $7.84B | Healthcare |
| Johnson & Johnson (JNJ) | $4.83B | Healthcare |
| Merck & Co., Inc. (MRK) | $4.11B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $3.62B | Healthcare |
| AstraZeneca PLC (AZN) | $2.81B | Healthcare |
| Amgen Inc. (AMGN) | $1.86B | Healthcare |
| Thermo Fisher Scientific Inc. (TMO) | $1.52B | Healthcare |
| AbbVie Inc. (ABBV) | $1.21B | Healthcare |
Frequently asked questions
What is Novo Nordisk's capital expenditures?
- Latest reported capital expenditures for Novo Nordisk (NVO) is $90.11B (period ending December 31, 2025).
How has Novo Nordisk capital expenditures changed year-over-year?
- Novo Nordisk (NVO) capital expenditures changed +75.6% year-over-year on the latest annual filing.
What is the long-term growth rate of Novo Nordisk capital expenditures?
- Novo Nordisk (NVO) capital expenditures compound annual growth rate is +32.5% over the most recent 5 years available.
When did Novo Nordisk capital expenditures hit its highest annual value?
- Novo Nordisk capital expenditures reached its highest annual value of $90.11B in 2025.
What was Novo Nordisk capital expenditures in 2024?
- Novo Nordisk (NVO) capital expenditures in 2024 was $51.31B.
What was Novo Nordisk capital expenditures in 2025?
- Novo Nordisk (NVO) capital expenditures in 2025 was $90.11B.
Metrics overview
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