Shares Outstanding for Novo Nordisk (NVO)
According to Novo Nordisk's latest reported financial statements, the company's latest reported diluted shares outstanding is 4.45B. Diluted weighted-average shares outstanding is the share count used to compute per-share metrics like EPS. Buybacks lower it; new issuance, stock-based compensation, and convertible securities raise it. Multiply by the stock price for market capitalization.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
NVO
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Latest period
4.45B
YoY change
-0.3%
5Y CAGR
-1.0%
Peak year (1989)
8.06B
Latest annual
4.45B
Shares Outstanding history chart for Novo Nordisk (NVO) from 1985 to 2025
Shares Outstanding history table for Novo Nordisk (NVO) from 1985 to 2025
| Fiscal year | Period ended | Reported | Shares Outstanding | YoY |
|---|---|---|---|---|
| 2025 | 4.45B | -0.3% | ||
| 2024 | 4.46B | -0.7% | ||
| 2023 | 4.49B | -1.1% | ||
| 2022 | 4.54B | -1.3% | ||
| 2021 | 4.61B | -1.6% | ||
| 2020 | 4.68B | -1.6% | ||
| 2019 | 4.76B | -1.9% | ||
| 2018 | 4.85B | -2.2% | ||
| 2017 | 4.96B | -2.2% | ||
| 2016 | 5.07B | -1.7% | ||
| 2015 | 5.16B | -2.0% | ||
| 2014 | 5.26B | -2.4% | ||
| 2013 | 5.39B | -2.3% | ||
| 2012 | 5.52B | -3.2% | ||
| 2011 | 5.70B | -2.6% | ||
| 2010 | 5.85B | -3.1% | ||
| 2009 | 6.04B | -3.0% | ||
| 2008 | 6.23B | -2.1% | ||
| 2007 | 6.36B | -1.6% | ||
| 2006 | 6.46B | -2.0% | ||
| 2005 | 6.59B | -3.0% | ||
| 2004 | 6.79B | -1.3% | ||
| 2003 | 6.88B | -1.5% | ||
| 2002 | 6.98B | +0.7% | ||
| 2001 | 6.94B | -0.1% | ||
| 2000 | 6.94B | -1.1% | ||
| 1999 | 7.02B | -4.5% | ||
| 1998 | 7.35B | -2.5% | ||
| 1997 | 7.54B | +0.9% | ||
| 1996 | 7.47B | -0.6% | ||
| 1995 | 7.51B | +0.6% | ||
| 1994 | 7.47B | -0.6% | ||
| 1993 | 7.52B | +0.0% | ||
| 1992 | 7.51B | +29.0% | ||
| 1991 | 5.83B | -7.0% | ||
| 1990 | 6.27B | -22.3% | ||
| 1989 | 8.06B | +56.4% | ||
| 1988 | 5.16B | +1.4% | ||
| 1987 | 5.08B | +0.2% | ||
| 1986 | 5.07B | +1.0% | ||
| 1985 | 5.02B | — |
Shares Outstanding values are taken from Novo Nordisk's reported income 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
The 2025 reading of Novo Nordisk (NVO) diluted shares outstanding is 4.45B – edged down 0.3% year-over-year.
Over 2020–2025 (5 years), Novo Nordisk diluted shares outstanding expanded at a -1.0% compound annual rate, with a net decline across the window.
Novo Nordisk diluted shares outstanding peaked at 8.06B in 1989; the latest annual figure is 4.45B in 2025 (44.8% below peak).
1989 marks the peak diluted shares outstanding at 8.06B, with the historical low of 4.45B recorded in 2025.
Within Healthcare, Novo Nordisk (NVO) ranks 1st among 8 peers we track. The peer median for diluted shares outstanding is 904.00M.
Novo Nordisk Shares Outstanding by Year
Novo Nordisk Shares Outstanding 2025: 4.45B
Novo Nordisk diluted shares outstanding in 2025 was 4.45B, edged down 0.3% below 2024. This figure represents the lowest annual value in the available history.
Novo Nordisk Shares Outstanding 2024: 4.46B
Novo Nordisk diluted shares outstanding in 2024 was 4.46B, edged down 0.7% below 2023.
Novo Nordisk Shares Outstanding 2023: 4.49B
Novo Nordisk diluted shares outstanding in 2023 was 4.49B, edged down 1.1% below 2022.
Novo Nordisk Shares Outstanding 2022: 4.54B
Novo Nordisk diluted shares outstanding in 2022 was 4.54B, edged down 1.3% below 2021.
Novo Nordisk Shares Outstanding 2021: 4.61B
Novo Nordisk diluted shares outstanding in 2021 was 4.61B.
See more financial history for Novo Nordisk (NVO).
Sector peers — Shares Outstanding
Companies in the same sector as Novo Nordisk, ranked by their latest diluted shares outstanding.
| Company | Shares Outstanding | Sector |
|---|---|---|
| Merck & Co., Inc. (MRK) | 2.51B | Healthcare |
| Johnson & Johnson (JNJ) | 2.43B | Healthcare |
| AbbVie Inc. (ABBV) | 1.77B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | 910.00M | Healthcare |
| Eli Lilly and Company (LLY) | 898.00M | Healthcare |
| AstraZeneca PLC (AZN) | 781.00M | Healthcare |
| Amgen Inc. (AMGN) | 542.00M | Healthcare |
| Thermo Fisher Scientific Inc. (TMO) | 377.00M | Healthcare |
Frequently asked questions
What is Novo Nordisk's diluted shares outstanding?
- Latest reported diluted shares outstanding for Novo Nordisk (NVO) is 4.45B (period ending December 31, 2025).
How has Novo Nordisk diluted shares outstanding changed year-over-year?
- Novo Nordisk (NVO) diluted shares outstanding changed -0.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Novo Nordisk diluted shares outstanding?
- Novo Nordisk (NVO) diluted shares outstanding compound annual growth rate is -1.0% over the most recent 5 years available.
When did Novo Nordisk diluted shares outstanding hit its highest annual value?
- Novo Nordisk diluted shares outstanding reached its highest annual value of 8.06B in 1989.
What was Novo Nordisk diluted shares outstanding in 2024?
- Novo Nordisk (NVO) diluted shares outstanding in 2024 was 4.46B.
What was Novo Nordisk diluted shares outstanding in 2025?
- Novo Nordisk (NVO) diluted shares outstanding in 2025 was 4.45B.
Metrics overview
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