Projected Income Statement: Novo Nordisk A/S

Forecast Balance Sheet: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 9,160 2,210 -3,224 76,479 103,996 118,237 113,207 95,206
Change - -75.87% -245.88% 2,472.18% 35.98% 13.69% -4.25% -15.9%
Announcement Date 02/02/22 01/02/23 31/01/24 05/02/25 03/02/26 - - -
1DKK in Million
Estimates

Cash Flow Forecast: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 6,335 12,146 25,806 47,164 60,140 54,776 36,426 29,926
Change - 91.73% 112.47% 82.76% 27.51% -8.92% -33.5% -17.85%
Free Cash Flow (FCF) 1 29,319 57,362 68,326 73,804 58,962 51,340 76,211 81,438
Change - 95.65% 19.11% 8.02% -20.11% -12.93% 48.44% 6.86%
Announcement Date 02/02/22 01/02/23 31/01/24 05/02/25 03/02/26 - - -
1DKK in Million
Estimates

Forecast Financial Ratios: Novo Nordisk A/S

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 45.93% 46.44% 48.22% 50.77% 48.42% 48.98% 47.46% 47.73%
EBIT Margin (%) 41.65% 42.28% 44.16% 44.19% 41.3% 41.53% 40.24% 40.66%
EBT Margin (%) 41.96% 39.03% 45.07% 43.8% 42.24% 42.91% 40.26% 40.47%
Net margin (%) 33.92% 31.38% 36.03% 34.78% 33.14% 33.34% 31.66% 32.06%
FCF margin (%) 20.82% 32.42% 29.42% 25.41% 19.08% 17.63% 25.5% 25.56%
FCF / Net Income (%) 61.39% 103.31% 81.65% 73.08% 57.56% 52.88% 80.54% 79.74%

Profitability

        
ROA 28.14% 25.48% 30.12% 25.88% 20.31% 18.53% 16.63% 17.06%
ROE 71.24% 72% 88.07% 80.78% 60.7% 44.67% 37.41% 36.15%

Financial Health

        
Leverage (Debt/EBITDA) 0.14x 0.03x - 0.52x 0.69x 0.83x 0.8x 0.63x
Debt / Free cash flow 0.31x 0.04x - 1.04x 1.76x 2.3x 1.49x 1.17x

Capital Intensity

        
CAPEX / Current Assets (%) 4.5% 6.86% 11.11% 16.24% 19.46% 18.81% 12.19% 9.39%
CAPEX / EBITDA (%) 9.8% 14.78% 23.04% 31.99% 40.19% 38.39% 25.68% 19.68%
CAPEX / FCF (%) 21.61% 21.17% 37.77% 63.9% 102% 106.69% 47.8% 36.75%

Items per share

        
Cash flow per share 1 11.94 17.36 24.23 27.1 26.78 22.74 25.55 27.31
Change - 45.37% 39.6% 11.85% -1.2% -15.07% 12.35% 6.9%
Dividend per Share 1 5.2 6.2 9.4 11.4 11.7 11.15 10.89 11.17
Change - 19.23% 51.61% 21.28% 2.63% -4.73% -2.31% 2.57%
Book Value Per Share 1 15.31 18.31 23.77 32.31 - 51 57.15 63.64
Change - 19.56% 29.84% 35.92% - - 12.04% 11.37%
EPS 1 10.37 12.22 18.62 22.63 23.03 22.09 21.28 23.28
Change - 17.84% 52.37% 21.54% 1.77% -4.09% -3.64% 9.38%
Nbr of stocks (in thousands) 4,557,801 4,517,704 4,458,288 4,441,340 4,443,479 4,432,851 4,432,851 4,432,851
Announcement Date 02/02/22 01/02/23 31/01/24 05/02/25 03/02/26 - - -
1DKK
Estimates
2026 *2027 *
P/E ratio 13.5x 14.1x
PBR 5.87x 5.24x
EV / Sales 4.96x 4.82x
Yield 3.73% 3.64%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
26
Last Close Price
299.20DKK
Average target price
307.99DKK
Spread / Average Target
+2.94%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. NOVO B Stock
  4. Financials Novo Nordisk A/S