Novo Nordisk A/S (NVO) Fair Value & Analysis
Healthcare · US · Market cap $191B · ISIN US6701002056
What is Novo Nordisk A/S really worth?
Novo Nordisk A/S
NVO · US
A solid business, trading 11% below our fair value of $52.48.
As of Aug 29, 2026, the fair value of Novo Nordisk A/S is $52.48 per share against a price of $46.60, so the fair value sits 13% above the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 8 days ago
Fair value updated Aug 29, 2026, revised from $52.52 to $52.48 (−0.1%) since Aug 27, 2026. Share price +4.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range ($29.74 to $74.55) leaves room in how you read the outcome.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range $34.77 – $137.40 · fair‑value band $29.74 – $74.55 · the $46.60 price screens below the $52.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Novo Nordisk A/S (NVO) currently trades at $46.60, while our model-based Fair Value estimate is $52.48, implying the stock looks roughly 11.2% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of $427.38 per share, and 25 of the 26 models we run sit above the $46.60 price. Bear case: the Asset-Based group reads lowest at $29.23, and 1 of the 26 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Novo Nordisk A/S generated revenue of $328B 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. Fundamentals as of Aug 29, 2026
Our scenario range runs from $29.74 (bear case) to $74.55 (bull case); at $46.60, 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 32% below its 52-week high and 35% 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 13%, NVO screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($427.38) versus Asset-Based ($29.23). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 48
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 309B DKK in FY2025 versus 141B DKK in FY2021, a compound +21.7%/yr. Reported net income was 102B DKK in FY2025, compounding +21.0%/yr from FY2021.
of which total revenue +11.6 % · buybacks/dilution +1.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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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
Strength profile in five axes (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 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Eli Lilly and Company LLY | $1,176 | $389.47 | −67% |
| Johnson & Johnson, JNJ | $275.23 | $169.04 | −39% |
| AbbVie Inc ABBV | $256.46 | $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 123.74 | CHF 114.90 | −7% |
| Amgen Inc AMGN | $437.23 | $252.02 | −42% |
| Gilead Sciences, Inc GILD | $151.00 | $146.50 | −3% |
| Pfizer Inc PFE | $28.02 | $24.87 | −11% |
| Bristol-Myers Squibb Company BMY | $66.58 | $75.98 | +14% |
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