What is Novo Nordisk's net margin?

Latest reported net margin for Novo Nordisk (NVO) is 37.23% as of the trailing twelve months (TTM) ending March 31, 2026.

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

Novo Nordisk (NVO) net margin changed −1.6 percentage points year-over-year on the latest annual filing.

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

Novo Nordisk net margin reached its highest annual value of 36.03% in 2023.

What was Novo Nordisk net margin in 2024?

Novo Nordisk (NVO) net margin in 2024 was 34.78%.

What was Novo Nordisk net margin in 2025?

Novo Nordisk (NVO) net margin in 2025 was 33.14%.

Novo Nordisk (NVO) Net Profit Margin

TTM

37.2%

YoY change

−1.63pp

Trough year (1990)

9.1%

Peak year (2023)

36.0%

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

Latest: 33.1%

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

Latest: −1.63pp

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


2025	33.1%	-1.63pp	Dec 31, 2025	Feb 4, 2026
2024	34.8%	-1.25pp	Dec 31, 2024	Feb 5, 2025
2023	36.0%	+4.65pp	Dec 31, 2023	Jan 31, 2024
2022	31.4%	-2.54pp	Dec 31, 2022	Dec 31, 2022
2021	33.9%	+0.72pp	Dec 31, 2021	Dec 31, 2021
2020	33.2%	+1.27pp	Dec 31, 2020	Dec 31, 2020
2019	31.9%	-2.62pp	Dec 31, 2019	Dec 31, 2019
2018	34.5%	+0.40pp	Dec 31, 2018	Dec 31, 2018
2017	34.1%	+0.21pp	Dec 31, 2017	Dec 31, 2017
2016	33.9%	+1.63pp	Dec 31, 2016	Dec 31, 2016
2015	32.3%	+2.48pp	Dec 31, 2015	Dec 31, 2015
2014	29.8%	-0.32pp	Dec 31, 2014	Dec 31, 2014
2013	30.1%	+2.67pp	Dec 31, 2013	Dec 31, 2013
2012	27.5%	+1.70pp	Dec 31, 2012	Dec 31, 2012
2011	25.8%	+2.07pp	Dec 31, 2011	Dec 31, 2011
2010	23.7%	+2.62pp	Dec 31, 2010	Dec 31, 2010
2009	21.1%	-0.09pp	Dec 31, 2009	Dec 31, 2009
2008	21.2%	+0.79pp	Dec 31, 2008	Dec 31, 2008
2007	20.4%	+3.72pp	Dec 31, 2007	Dec 31, 2007
2006	16.7%	-0.72pp	Dec 31, 2006	Dec 31, 2006
2005	17.4%	+0.10pp	Dec 31, 2005	Dec 31, 2005
2004	17.3%	-1.04pp	Dec 31, 2004	Dec 31, 2004
2003	18.3%	+2.04pp	Dec 31, 2003	Dec 31, 2003
2002	16.3%	+0.03pp	Dec 31, 2002	Dec 31, 2002
2001	16.2%	+1.40pp	Dec 31, 2001	Dec 31, 2001
2000	14.8%	+0.13pp	Dec 31, 2000	Dec 31, 2000
1999	14.7%	-2.98pp	Dec 31, 1999	Dec 31, 1999
1998	17.7%	+4.62pp	Dec 31, 1998	Dec 31, 1998
1997	13.1%	+0.97pp	Dec 31, 1997	Dec 31, 1997
1996	12.1%	+0.71pp	Dec 31, 1996	Dec 31, 1996
1995	11.4%	+0.80pp	Dec 31, 1995	Dec 31, 1995
1994	10.6%	-0.29pp	Dec 31, 1994	Dec 31, 1994
1993	10.9%	-1.05pp	Dec 31, 1993	Dec 31, 1993
1992	11.9%	+2.46pp	Dec 31, 1992	Dec 31, 1992
1991	9.5%	+0.34pp	Dec 31, 1991	Dec 31, 1991
1990	9.1%	-0.67pp	Dec 31, 1990	Dec 31, 1990
1989	9.8%	-1.54pp	Dec 31, 1989	Dec 31, 1989
1988	11.3%	+1.78pp	Dec 31, 1988	Dec 31, 1988
1987	9.6%	-2.89pp	Dec 31, 1987	Dec 31, 1987
1986	12.4%	-2.17pp	Dec 31, 1986	Dec 31, 1986
1985	14.6%	—	Dec 31, 1985	Dec 31, 1985

202533.1%-1.63pp
202434.8%-1.25pp
202336.0%+4.65pp
202231.4%-2.54pp
202133.9%+0.72pp
202033.2%+1.27pp
201931.9%-2.62pp
201834.5%+0.40pp
201734.1%+0.21pp
201633.9%+1.63pp
201532.3%+2.48pp
201429.8%-0.32pp
201330.1%+2.67pp
201227.5%+1.70pp
201125.8%+2.07pp
201023.7%+2.62pp
200921.1%-0.09pp
200821.2%+0.79pp
200720.4%+3.72pp
200616.7%-0.72pp
200517.4%+0.10pp
200417.3%-1.04pp
200318.3%+2.04pp
200216.3%+0.03pp
200116.2%+1.40pp
200014.8%+0.13pp
199914.7%-2.98pp
199817.7%+4.62pp
199713.1%+0.97pp
199612.1%+0.71pp
199511.4%+0.80pp
199410.6%-0.29pp
199310.9%-1.05pp
199211.9%+2.46pp
19919.5%+0.34pp
19909.1%-0.67pp
19899.8%-1.54pp
198811.3%+1.78pp
19879.6%-2.89pp
198612.4%-2.17pp
198514.6%—

Net Profit 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 Net Profit Margin at Novo Nordisk (NVO)

According to Novo Nordisk's latest reported financial statements, the company's latest reported net margin is 37.2%. Net profit margin is net income divided by revenue — the bottom-line share of each sales dollar that remains after all costs, including operating expenses, interest, and taxes. It is the most comprehensive profitability ratio, though it can swing on one-off items, so read it alongside the multi-year trend below.

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.

As of the 2025 fiscal year, Novo Nordisk (NVO) reported net margin of 33.14% – contracted 1.6 percentage points year-over-year.

Across the available history, net margin reached its high of 36.03% in 2023 and its low of 9.12% in 1990.

Novo Nordisk Net Profit Margin by Year

Novo Nordisk Net Profit Margin 2025: 33.1%

2025's net margin for Novo Nordisk came in at 33.14%, contracted 1.6 percentage points from 2024.

Novo Nordisk Net Profit Margin 2024: 34.8%

Novo Nordisk posted net margin of 34.78% in 2024, contracted 1.3 percentage points from 2023.

Novo Nordisk Net Profit Margin 2023: 36.0%

In 2023, Novo Nordisk reported net margin of 36.03%, expanded 4.7 percentage points from 2022. This figure represents the highest annual value in the available history.

Novo Nordisk Net Profit Margin 2022: 31.4%

Novo Nordisk net margin in 2022 was 31.38%, contracted 2.5 percentage points from 2021.

Novo Nordisk Net Profit Margin 2021: 33.9%

Novo Nordisk net margin in 2021 was 33.92%.

See more financial history for Novo Nordisk (NVO).

Sector peers by Net Profit Margin

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


Eli Lilly (LLY)	35.0%
Johnson & Johnson (JNJ)	21.4%
Amgen (AMGN)	20.9%
AstraZeneca (AZN)	17.2%
Thermo Fisher Scientific (TMO)	15.2%
Merck & Co. (MRK)	13.6%
AbbVie (ABBV)	5.8%
UnitedHealth Group (UNH)	2.7%

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