Latest period
$4.77B
YoY change
-54.6%
5Y CAGR
-1.2%
Peak year (FY2023)
$10.1B
Latest annual
$4.52B
Free Cash Flow history chart for Novo Nordisk (NVO) from 2016 to 2025
Latest: $4.52B
Free Cash Flow growth chart for Novo Nordisk (NVO) from 2016 to 2025
Latest: -54.6%
Free Cash Flow history table for Novo Nordisk (NVO) from 2003 to 2025
| FY2025 | $4.52B | -54.6% | -$5.44B | ||
| FY2024 | $9.96B | -1.4% | -$144M | ||
| FY2023 | $10.1B | +14.7% | +$1.29B | ||
| FY2022 | $8.81B | +20.4% | +$1.49B | ||
| FY2021 | $7.32B | +52.9% | +$2.53B | ||
| FY2020 | $4.79B | -9.1% | -$481M | ||
| FY2019 | $5.27B | +7.0% | +$345M | ||
| FY2018 | $4.92B | -4.3% | -$222M | ||
| FY2017 | $5.15B | -11.3% | -$657M | ||
| FY2016 | $5.8B | +24.0% | +$1.12B | ||
| FY2015 | $4.68B | +2.0% | +$89.6M | ||
| FY2014 | $4.59B | +12.8% | +$520M | ||
| FY2013 | $4.07B | +25.8% | +$836M | ||
| FY2012 | $3.23B | -1.0% | -$33.1M | ||
| FY2011 | $3.27B | +13.7% | +$393M | ||
| FY2010 | $2.87B | +17.7% | +$432M | ||
| FY2009 | $2.44B | +27.0% | +$520M | ||
| FY2008 | $1.92B | +30.8% | +$453M | ||
| FY2007 | $1.47B | +92.1% | +$705M | ||
| FY2006 | $766M | -0.0% | -$352K | ||
| FY2005 | $766M | -2.2% | -$17.5M | ||
| FY2004 | $783M | +29.2% | +$177M | ||
| FY2003 | $607M | — | — | ||
| FY2002 | — | — | — | ||
| FY2001 | — | — | — | ||
| FY2000 | — | — | — | ||
| FY1999 | — | — | — | ||
| FY1998 | — | — | — | ||
| FY1997 | — | — | — | ||
| FY1996 | — | — | — | ||
| FY1995 | — | — | — | ||
| FY1994 | — | — | — | ||
| FY1993 | — | — | — | ||
| FY1992 | — | — | — | ||
| FY1991 | — | — | — | ||
| FY1990 | — | — | — |
- FY2025$4.52B-54.6%
- FY2024$9.96B-1.4%
- FY2023$10.1B+14.7%
- FY2022$8.81B+20.4%
- FY2021$7.32B+52.9%
- FY2020$4.79B-9.1%
- FY2019$5.27B+7.0%
- FY2018$4.92B-4.3%
- FY2017$5.15B-11.3%
- FY2016$5.8B+24.0%
- FY2015$4.68B+2.0%
- FY2014$4.59B+12.8%
- FY2013$4.07B+25.8%
- FY2012$3.23B-1.0%
- FY2011$3.27B+13.7%
- FY2010$2.87B+17.7%
- FY2009$2.44B+27.0%
- FY2008$1.92B+30.8%
- FY2007$1.47B+92.1%
- FY2006$766M-0.0%
- FY2005$766M-2.2%
- FY2004$783M+29.2%
- FY2003$607M—
- FY2002——
- FY2001——
- FY2000——
- FY1999——
- FY1998——
- FY1997——
- FY1996——
- FY1995——
- FY1994——
- FY1993——
- FY1992——
- FY1991——
- FY1990——
Free Cash Flow values are taken from Novo Nordisk's reported cash flow 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 converted to USD using IAS 21 average exchange rates (P&L / cash flow) or closing rates (balance sheet). Originally filed in DKK.
About Free Cash Flow at Novo Nordisk (NVO)
Free Cash Flow for Novo Nordisk (NVO): headline value $4.77B · YoY -54.6%. Annual and quarterly series, chart, and tables are below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Novo Nordisk (NVO) most recent annual free cash flow stands at 29B DKK (2025) – plunged 58.4% year-over-year.
Through 2020–2025 (5 years), Novo Nordisk free cash flow delivered a -0.6% annualised rate; with a net decline across the window.
Novo Nordisk free cash flow peaked at 70B DKK in 2023; the latest annual figure is 29B DKK in 2025 (58.6% below peak).
The highest annual free cash flow of 70B DKK was reported in 2023. The lowest in the available history was -624M DKK in 1992.
Novo Nordisk Free Cash Flow by Year
Novo Nordisk Free Cash Flow 2025: $4.52B
Novo Nordisk free cash flow in 2025 was 29B DKK ($4.52B), plunged 58.4% below 2024.
Novo Nordisk Free Cash Flow 2024: $9.96B
2024's free cash flow for Novo Nordisk came in at 69.7B DKK ($9.96B), edged down 0.5% below 2023.
Novo Nordisk Free Cash Flow 2023: $10.1B
Novo Nordisk posted free cash flow of 70B DKK ($10.1B) in 2023, grew 9.2% from 2022. This figure represents the highest annual value in the available history.
Novo Nordisk Free Cash Flow 2022: $8.81B
In 2022, Novo Nordisk reported free cash flow of 64.1B DKK ($8.81B), surged 34.7% from 2021.
Novo Nordisk Free Cash Flow 2021: $7.32B
Novo Nordisk free cash flow in 2021 was 47.6B DKK ($7.32B).
See more financial history for Novo Nordisk (NVO).
Sector peers by Free Cash Flow
Healthcare peers of Novo Nordisk (NVO), ranked by their latest free cash flow
| $19.7B | |
| $17.8B | |
| $16.1B | |
| $12.4B | |
| $8.97B | |
| $8.1B | |
| $7.4B | |
| $6.29B |
- $19.7B
- $17.8B
- $16.1B
- $12.4B
- $8.97B
- $8.1B
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- Buybacks0.23% TTM
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