What is Novo Nordisk's EBITDA margin?

Latest reported EBITDA margin for Novo Nordisk (NVO) is 55.38% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Novo Nordisk EBITDA margin changed year-over-year?

Novo Nordisk (NVO) EBITDA margin changed −0.2 percentage points year-over-year on the latest annual filing.

When did Novo Nordisk EBITDA margin hit its highest annual value?

Novo Nordisk EBITDA margin reached its highest annual value of 50.94% in 2024.

What was Novo Nordisk EBITDA margin in 2024?

Novo Nordisk (NVO) EBITDA margin in 2024 was 50.94%.

What was Novo Nordisk EBITDA margin in 2025?

Novo Nordisk (NVO) EBITDA margin in 2025 was 50.71%.

Novo Nordisk (NVO) EBITDA Margin — Annual & Quarterly %

TTM

55.4%

YoY change

−0.23pp

Trough year (1992)

17.4%

Peak year (2024)

50.9%

EBITDA Margin history chart for Novo Nordisk (NVO) from 1985 to 2025

Latest: 50.7%

EBITDA Margin change chart for Novo Nordisk (NVO) from 1985 to 2025

Latest: −0.23pp

EBITDA Margin history table for Novo Nordisk (NVO) from 1985 to 2025


2025	50.7%	-0.23pp	Dec 31, 2025	Feb 4, 2026
2024	50.9%	+1.59pp	Dec 31, 2024	Feb 5, 2025
2023	49.4%	+5.95pp	Dec 31, 2023	Jan 31, 2024
2022	43.4%	-3.04pp	Dec 31, 2022	Dec 31, 2022
2021	46.4%	-0.25pp	Dec 31, 2021	Dec 31, 2021
2020	46.7%	+2.08pp	Dec 31, 2020	Dec 31, 2020
2019	44.6%	-1.55pp	Dec 31, 2019	Dec 31, 2019
2018	46.2%	-0.35pp	Dec 31, 2018	Dec 31, 2018
2017	46.5%	+0.84pp	Dec 31, 2017	Dec 31, 2017
2016	45.7%	+2.58pp	Dec 31, 2016	Dec 31, 2016
2015	43.1%	+0.79pp	Dec 31, 2015	Dec 31, 2015
2014	42.3%	-0.04pp	Dec 31, 2014	Dec 31, 2014
2013	42.4%	+3.18pp	Dec 31, 2013	Dec 31, 2013
2012	39.2%	+1.58pp	Dec 31, 2012	Dec 31, 2012
2011	37.6%	+2.62pp	Dec 31, 2011	Dec 31, 2011
2010	35.0%	+0.11pp	Dec 31, 2010	Dec 31, 2010
2009	34.9%	+2.32pp	Dec 31, 2009	Dec 31, 2009
2008	32.5%	+3.96pp	Dec 31, 2008	Dec 31, 2008
2007	28.6%	-0.48pp	Dec 31, 2007	Dec 31, 2007
2006	29.1%	-0.61pp	Dec 31, 2006	Dec 31, 2006
2005	29.7%	-0.89pp	Dec 31, 2005	Dec 31, 2005
2004	30.6%	+0.41pp	Dec 31, 2004	Dec 31, 2004
2003	30.1%	+1.11pp	Dec 31, 2003	Dec 31, 2003
2002	29.0%	+0.89pp	Dec 31, 2002	Dec 31, 2002
2001	28.1%	+2.79pp	Dec 31, 2001	Dec 31, 2001
2000	25.4%	+1.84pp	Dec 31, 2000	Dec 31, 2000
1999	23.5%	+5.78pp	Dec 31, 1999	Dec 31, 1999
1998	17.7%	-2.74pp	Dec 31, 1998	Dec 31, 1998
1997	20.5%	+0.02pp	Dec 31, 1997	Dec 31, 1997
1996	20.4%	-1.51pp	Dec 31, 1996	Dec 31, 1996
1995	22.0%	+0.54pp	Dec 31, 1995	Dec 31, 1995
1994	21.4%	+0.55pp	Dec 31, 1994	Dec 31, 1994
1993	20.9%	+3.51pp	Dec 31, 1993	Dec 31, 1993
1992	17.4%	-2.95pp	Dec 31, 1992	Dec 31, 1992
1991	20.3%	+1.43pp	Dec 31, 1991	Dec 31, 1991
1990	18.9%	-1.10pp	Dec 31, 1990	Dec 31, 1990
1989	20.0%	-2.41pp	Dec 31, 1989	Dec 31, 1989
1988	22.4%	+4.20pp	Dec 31, 1988	Dec 31, 1988
1987	18.2%	-3.16pp	Dec 31, 1987	Dec 31, 1987
1986	21.3%	-1.10pp	Dec 31, 1986	Dec 31, 1986
1985	22.4%	—	Dec 31, 1985	Dec 31, 1985

202550.7%-0.23pp
202450.9%+1.59pp
202349.4%+5.95pp
202243.4%-3.04pp
202146.4%-0.25pp
202046.7%+2.08pp
201944.6%-1.55pp
201846.2%-0.35pp
201746.5%+0.84pp
201645.7%+2.58pp
201543.1%+0.79pp
201442.3%-0.04pp
201342.4%+3.18pp
201239.2%+1.58pp
201137.6%+2.62pp
201035.0%+0.11pp
200934.9%+2.32pp
200832.5%+3.96pp
200728.6%-0.48pp
200629.1%-0.61pp
200529.7%-0.89pp
200430.6%+0.41pp
200330.1%+1.11pp
200229.0%+0.89pp
200128.1%+2.79pp
200025.4%+1.84pp
199923.5%+5.78pp
199817.7%-2.74pp
199720.5%+0.02pp
199620.4%-1.51pp
199522.0%+0.54pp
199421.4%+0.55pp
199320.9%+3.51pp
199217.4%-2.95pp
199120.3%+1.43pp
199018.9%-1.10pp
198920.0%-2.41pp
198822.4%+4.20pp
198718.2%-3.16pp
198621.3%-1.10pp
198522.4%—

EBITDA Margin values are taken from Novo Nordisk's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in DKK as filed.

About EBITDA Margin at Novo Nordisk (NVO)

According to Novo Nordisk's latest reported financial statements, the company's latest reported EBITDA margin is 55.4%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending March 31, 2026 (reported May 6, 2026). Chart and table below cover the full reported history back to 1985.

2025's annual EBITDA margin for Novo Nordisk (NVO) came in at 50.71% – contracted 0.2 percentage points year-over-year.

The highest annual EBITDA margin of 50.94% was reported in 2024. The lowest in the available history was 17.36% in 1992.

Novo Nordisk EBITDA Margin by Year

Novo Nordisk EBITDA Margin 2025: 50.7%

2025's EBITDA margin for Novo Nordisk came in at 50.71%, contracted 0.2 percentage points from 2024.

Novo Nordisk EBITDA Margin 2024: 50.9%

Novo Nordisk posted EBITDA margin of 50.94% in 2024, expanded 1.6 percentage points from 2023. This figure represents the highest annual value in the available history.

Novo Nordisk EBITDA Margin 2023: 49.4%

In 2023, Novo Nordisk reported EBITDA margin of 49.35%, expanded 6.0 percentage points from 2022.

Novo Nordisk EBITDA Margin 2022: 43.4%

Novo Nordisk EBITDA margin in 2022 was 43.40%, contracted 3.0 percentage points from 2021.

Novo Nordisk EBITDA Margin 2021: 46.4%

Novo Nordisk EBITDA margin in 2021 was 46.44%.

See more financial history for Novo Nordisk (NVO).

Sector peers by EBITDA Margin

Healthcare peers of Novo Nordisk (NVO), ranked by their latest EBITDA margin


Amgen (AMGN)	46.6%
Eli Lilly (LLY)	45.9%
Merck & Co. (MRK)	34.6%
AstraZeneca (AZN)	33.9%
Johnson & Johnson (JNJ)	30.3%
AbbVie (ABBV)	26.9%
Thermo Fisher Scientific (TMO)	24.7%
UnitedHealth Group (UNH)	5.1%

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