Novo Nordisk A S annual operating margin
2019
2020
2021
2022
2023
2024
2025
Novo Nordisk A S Operating Margin Growth & History (NVO)
Novo Nordisk A S's operating margin was 41.30% for fiscal 2025.
View full Novo Nordisk A S company overviewNovo Nordisk A S annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 41.30% | −2.89 pp |
| 2024 | 2024-12-31 | 44.19% | +0.03 pp |
| 2023 | 2023-12-31 | 44.16% | +1.89 pp |
| 2022 | 2022-12-31 | 42.28% | +0.63 pp |
| 2021 | 2021-12-31 | 41.65% | −0.99 pp |
| 2020 | 2020-12-31 | 42.64% | −0.37 pp |
| 2019 | 2019-12-31 | 43.01% | — |
Novo Nordisk A S quarterly operating margin
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 34.48% | −9.04 pp |
| Q1 2026 | 2026-03-31 | 61.57% | +11.90 pp |
| Q4 2025 | 2025-12-31 | 40.10% | −2.78 pp |
| Q3 2025 | 2025-09-30 | 31.59% | −15.84 pp |
| Q2 2025 | 2025-06-30 | 43.52% | +5.42 pp |
| Q1 2025 | 2025-03-31 | 49.68% | +0.94 pp |
| Q4 2024 | 2024-12-31 | 42.88% | — |
| Q3 2024 | 2024-09-30 | 47.43% | — |
| Q2 2024 | 2024-06-30 | 38.10% | — |
| Q1 2024 | 2024-03-31 | 48.73% | — |
Novo Nordisk A S operating margin trends
Over the last five fiscal years, Novo Nordisk A S's operating margin decreased from 42.64% to 41.30%, a change of −1.33 percentage points. The latest reported quarter, Q2 2026, shows 34.48%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Novo Nordisk A S source filings ↗Community posts
Novo licenses early-stage weekly obesity pill for $300 million upfront
Novo Nordisk ($NVO) has agreed to license Hengrui Pharma’s HRS-1596, an experimental oral medicine targeting both GLP-1 and GIP receptors. The agreement includes $300 million upfront within a potential $2.6 billion total, with the balance d ...
Novo Nordisk sets new pipeline and manufacturing ambitions
Novo Nordisk ($NVO) outlined ambitions to launch more than five major new medicines by 2030 and generate over DKK150 billion in risk-adjusted sales from its current pipeline by 2035. It also intends to enter or complete at least five Phase ...
Novo’s weekly growth-hormone treatment gains another European recommendation
Novo Nordisk ($NVO) received a positive European advisory opinion for once-weekly Sogroya in children with idiopathic short stature and persistent growth disturbance. The proposed expansion is supported by the REAL8 study, which found the w ...
Novo Nordisk receives positive European opinion for hemophilia treatment
Novo Nordisk ($NVO) received a positive recommendation from the European Medicines Agency’s human medicines committee for FREHEMGO, its denecimig treatment for hemophilia A. The proposed indication covers adults and children, including pati ...
Novo Nordisk reports positive STEP Young results in children aged 6 to under 12
Novo Nordisk announced first STEP Young Phase 3 results on 7 September 2026. Trial design and outcome The randomised, double-blind study involved 165 children aged 6 to under 12, comparing weekly semaglutide with placebo. Both groups receiv ...
