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
Q1.25
Q2.25
Q3.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 34.48% | −15.20 pp |
| Q1 2026 | 2026-03-31 | 61.57% | +16.83 pp |
| Q3 2025 | 2025-09-30 | 41.72% | −1.59 pp |
| Q2 2025 | 2025-06-30 | 46.62% | −2.11 pp |
| Q1 2025 | 2025-03-31 | 49.68% | — |
| Q3 2024 | 2024-09-30 | 44.75% | — |
| Q2 2024 | 2024-06-30 | 43.31% | — |
| Q1 2024 | 2024-03-31 | 48.73% | — |
Novo Nordisk A S operating margin trends
Over the last five reported 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 filings at SEC.gov ↗