Novo Nordisk A S revenue

Novo Nordisk A S's revenue was $46.82bn in fiscal 2025, up 11.1% on the year before. Since fiscal 2019 ($18.30bn) it has grown at a compound 17.0% a year.

Revenue history

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Novo Nordisk A S: revenue history, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	18.3	19.4	22.4	25.1	33.7	42.1	46.8
Growth on the year before	—	+6.2%	+15.3%	+11.9%	+34.6%	+24.9%	+11.1%
Gross profit	15.3	16.2	18.6	21.0	28.5	35.7	37.9
Gross margin	83.5%	83.5%	83.2%	83.9%	84.6%	84.7%	81.0%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Revenue against peers

Pharmaceuticals: the closest covered companies by revenue. Last twelve months.

Company	Revenue	Growth	3-year growth a year
Novo Nordisk A S	$46.82bn	11.1%	—
Bristol Myers Squibb	$50.03bn	4.2%	3.6%
GSK plc	$43.09bn	7.5%	—
Astrazeneca PLC	$58.74bn	8.6%	—
Pfizer	$63.70bn	-0.2%	-7.0%
Merck & Co.	$66.57bn	4.6%	4.5%

Compare with peers

Head to head: BMY vs NVO GSK vs NVO AZN vs NVO

More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from Novo Nordisk A S's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Novo Nordisk A S.