Novo Nordisk A/S

CPSE:NOVO B Stock Report

Market Cap: DKK 1.2t

Novo Nordisk Valuation

Is NOVO B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of NOVO B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: NOVO B (DKK280.65) is trading below our estimate of future cash flow value (DKK1002)

Significantly Below Future Cash Flow Value: NOVO B is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NOVO B?

Key metric: As NOVO B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NOVO B. This is calculated by dividing NOVO B's market cap by their current earnings.
What is NOVO B's PE Ratio?
PE Ratio12.8x
EarningsDKK 102.43b
Market CapDKK 1.25t

Price to Earnings Ratio vs Peers

How does NOVO B's PE Ratio compare to its peers?

The above table shows the PE ratio for NOVO B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.7x
ALK B ALK-Abelló
43x14.88%DKK 47.4b
HLUN B H. Lundbeck
11.5x0.014%DKK 36.1b
AZN AstraZeneca
31.3x13.19%UK£216.8b
NOVN Novartis
20.9x8.45%CHF 227.6b
NOVO B Novo Nordisk
12.2x2.79%DKK 1.2t

Price-To-Earnings vs Peers: NOVO B is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (26.7x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does NOVO B's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
NOVO B 12.8xIndustry Avg. 24.9xNo. of Companies6PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NOVO B is good value based on its Price-To-Earnings Ratio (12.2x) compared to the European Pharmaceuticals industry average (24.9x).

Price to Earnings Ratio vs Fair Ratio

What is NOVO B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NOVO B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio25x

Price-To-Earnings vs Fair Ratio: NOVO B is good value based on its Price-To-Earnings Ratio (12.2x) compared to the estimated Fair Price-To-Earnings Ratio (25x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NOVO B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentDKK 295.50
DKK 385.95
+30.61%
17.15%DKK 540.00DKK 270.00n/a22
Jan ’27DKK 325.25
DKK 393.04
+20.84%
19.94%DKK 540.00DKK 270.00n/a20
Dec ’26DKK 314.45
DKK 400.49
+27.36%
20.17%DKK 540.00DKK 270.00n/a20
Nov ’26DKK 315.95
DKK 441.93
+39.87%
19.10%DKK 600.00DKK 290.00n/a19
Oct ’26DKK 366.55
DKK 443.05
+20.87%
18.02%DKK 600.00DKK 300.00n/a19
Sep ’26DKK 365.10
DKK 465.30
+27.44%
19.76%DKK 620.00DKK 340.00n/a20
Aug ’26DKK 308.80
DKK 521.60
+68.91%
23.42%DKK 750.00DKK 360.00n/a20
Jul ’26DKK 438.35
DKK 634.76
+44.81%
20.20%DKK 900.00DKK 405.00n/a21
Jun ’26DKK 453.65
DKK 678.82
+49.63%
23.01%DKK 1,000.00DKK 405.00n/a22
May ’26DKK 444.25
DKK 699.59
+57.48%
22.61%DKK 1,000.00DKK 405.00n/a23
Apr ’26DKK 479.00
DKK 794.00
+65.76%
21.55%DKK 1,150.00DKK 450.00n/a23
Mar ’26DKK 644.50
DKK 813.17
+26.17%
20.53%DKK 1,150.00DKK 515.00n/a24
Feb ’26DKK 607.30
DKK 816.68
+34.48%
22.05%DKK 1,150.00DKK 515.00DKK 369.5522
Jan ’26DKK 624.20
DKK 880.73
+41.10%
22.02%DKK 1,150.00DKK 560.00DKK 325.2522
Dec ’25DKK 757.30
DKK 938.04
+23.87%
20.30%DKK 1,150.00DKK 560.00DKK 314.4524
Nov ’25DKK 768.90
DKK 944.58
+22.85%
20.43%DKK 1,150.00DKK 560.00DKK 315.9524
Oct ’25DKK 798.20
DKK 950.04
+19.02%
20.25%DKK 1,150.00DKK 560.00DKK 366.5525
Sep ’25DKK 938.10
DKK 950.81
+1.35%
20.06%DKK 1,200.00DKK 560.00DKK 365.1026
Aug ’25DKK 915.80
DKK 965.65
+5.44%
18.66%DKK 1,200.00DKK 560.00DKK 308.8026
Jul ’25DKK 1,004.60
DKK 952.15
-5.22%
18.30%DKK 1,200.00DKK 560.00DKK 438.3526
Jun ’25DKK 927.30
DKK 917.31
-1.08%
18.47%DKK 1,120.00DKK 530.00DKK 453.6526
May ’25DKK 897.70
DKK 904.20
+0.72%
19.41%DKK 1,120.00DKK 530.00DKK 444.2525
Apr ’25DKK 881.30
DKK 894.24
+1.47%
19.59%DKK 1,120.00DKK 530.00DKK 479.0025
Mar ’25DKK 850.90
DKK 820.08
-3.62%
16.75%DKK 980.00DKK 530.00DKK 644.5024
Feb ’25DKK 786.40
DKK 770.90
-1.97%
18.47%DKK 980.00DKK 450.00DKK 607.3023
DKK 385.95
Fair Value
23.4% undervalued intrinsic discount
22
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/06 17:53
End of Day Share Price 2026/02/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Novo Nordisk A/S is covered by 52 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Gerhard SchwarzBaader Helvea Equity Research
James GordonBarclays