Novo Nordisk A/S (NOVO-B) Fair Value & Analysis
Healthcare · DK · Market cap 1.5T DKK (≈ $227B) · ISIN DK0062498333
Strengths
Risks
Fair value as of: Aug 27, 2026
From 26 valuation models · updated yesterday
Share price −12.6% over the past month.
A solid business, trading 28% below our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (kr 206.04 to kr 565.28). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range kr 216.34 – kr 962.38 · fair‑value band kr 206.04 – kr 565.28 · the kr 295.50 price screens below the kr 409.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Novo Nordisk A/S (NOVO-B) currently trades at kr 295.50, while our model-based Fair Value estimate is kr 409.46, implying the stock looks roughly 38.6% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Novo Nordisk A/S generated revenue of 328B DKK at a net margin of 37.2%. Revenue grew 24.0% year over year. It earns a return on equity of 71.4%. Net debt stands at 104B DKK. Fundamentals as of Aug 27, 2026
Our scenario range runs from kr 206.04 (bear case) to kr 565.28 (bull case); at kr 295.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -18% fair-value upside, at 39%, NOVO-B screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (kr 425.74) versus Asset-Based (kr 29.23). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas.
Full company description
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas. The Rare Disease segment offers products in the areas of rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company also provides NovoPen 6 and NovoPen Echo Plus, smart insulin pens; Dose Check, an insulin dose guidance application; growth hormone pens and injection needles; and Wegovy pill an oral glucagon-like peptide-1 (GLP-1) receptor agonist therapy for weight management. It operates in Europe, Canada, the United States, Japan, Korea, Oceania, Southeast Asia, Mainland China, Hong Kong and Taiwan, Latin America, the Middle East, and Africa. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Novo Nordisk A/S reported revenue of kr 309B in FY2025 versus kr 141B in FY2021, a compound +21.7%/yr. Reported net income was kr 102B in FY2025, compounding +21.0%/yr from FY2021.
of which total revenue +11.6 pp · buybacks/dilution +1.8 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Novo Nordisk AS's Dividend Analysis
- Novo Nordisk (CPSE:NOVO B) Could Be 65% Undervalued Following Its Interim Dividend
- Is Scholar Rock Holding Corporation (SRRK) Better Positioned than Novo Nordisk A/S (NVO) After Recent Setbacks?
- Jim Cramer Reevaluates Novo Nordisk (NVO) as Wegovy Pill Adoption Accelerates
Peer Group
Drug Manufacturers - General · 75 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Eli Lilly and Company LLY | $1,189 | $389.47 | -67% |
| Johnson & Johnson, JNJ | $270.00 | $169.04 | -37% |
| AbbVie Inc ABBV | $262.90 | $67.72 | -74% |
| Roche Holding RO | CHF 374.60 | CHF 306.54 | -18% |
| Merck & Co MRK | €131.98 | €101.38 | -23% |
| Novartis AG NOVN | CHF 124.64 | CHF 114.29 | -8% |
| Amgen Inc AMGN | $440.34 | $252.02 | -43% |
| Gilead Sciences, Inc GILD | $148.09 | $146.50 | -1% |
| Pfizer Inc PFE | $28.30 | $24.87 | -12% |
| Bristol-Myers Squibb Company BMY | $67.57 | $75.98 | +12% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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