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Operating Margin for Novo Nordisk (NVO)

As of · Reported

Metric

TTM

45.3%

YoY change

−2.89pp

Trough year (1998)

10.5%

Peak year (2015)

45.8%

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

Latest: 41.3%

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

Latest: −2.89pp

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

  • 202541.3%-2.89pp
  • 202444.2%+0.03pp
  • 202344.2%+1.89pp
  • 202242.3%+0.63pp
  • 202141.7%-0.99pp
  • 202042.6%-0.37pp
  • 201943.0%+0.76pp
  • 201842.2%-1.59pp
  • 201743.8%+0.51pp
  • 201643.3%-2.48pp
  • 201545.8%+6.97pp
  • 201438.8%+1.16pp
  • 201337.7%-0.09pp
  • 201237.8%+4.05pp
  • 201133.7%+2.64pp
  • 201031.1%+1.85pp
  • 200929.2%+2.07pp
  • 200827.2%+5.79pp
  • 200721.4%-2.16pp
  • 200623.5%-0.42pp
  • 200524.0%-0.09pp
  • 200424.0%-0.01pp
  • 200324.1%+0.31pp
  • 200223.7%+0.15pp
  • 200123.6%+3.21pp
  • 200020.4%+2.62pp
  • 199917.8%+7.26pp
  • 199810.5%-3.24pp
  • 199713.7%+0.46pp
  • 199613.3%-0.37pp
  • 199513.7%+0.04pp
  • 199413.6%-1.18pp
  • 199314.8%+3.93pp
  • 199210.9%-3.43pp
  • 199114.3%+1.65pp
  • 199012.6%-1.15pp
  • 198913.8%-2.85pp
  • 198816.6%+3.75pp
  • 198712.9%-3.10pp
  • 198616.0%-1.66pp
  • 198517.6%—

Operating 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 Operating Margin at Novo Nordisk (NVO)

According to Novo Nordisk's latest reported financial statements, the company's latest reported operating margin is 45.3%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

As of the 2025 fiscal year, Novo Nordisk (NVO) reported operating margin of 41.30% – contracted 2.9 percentage points year-over-year.

45.81% stands as the all-time-high annual operating margin, posted in 2015, against a low of 10.50% during 1998.

Novo Nordisk Operating Margin by Year

Novo Nordisk Operating Margin 2025: 41.3%

2025's operating margin for Novo Nordisk came in at 41.30%, contracted 2.9 percentage points from 2024.

Novo Nordisk Operating Margin 2024: 44.2%

Novo Nordisk posted operating margin of 44.19% in 2024, expanded 0.0 percentage points from 2023.

Novo Nordisk Operating Margin 2023: 44.2%

In 2023, Novo Nordisk reported operating margin of 44.16%, expanded 1.9 percentage points from 2022.

Novo Nordisk Operating Margin 2022: 42.3%

Novo Nordisk operating margin in 2022 was 42.28%, expanded 0.6 percentage points from 2021.

Novo Nordisk Operating Margin 2021: 41.7%

Novo Nordisk operating margin in 2021 was 41.65%.

See more financial history for Novo Nordisk (NVO).

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