← Research LibraryThe BriefFY2025 20-F · headline figures audited against SEC data
Revenue grew 6.4% to DKK 309.06B but margins narrowed; Novo changed chief executive and let around 9,000 employees go.
The read at a glance✓ Audited against SEC data
- Growth — Revenue +6.4% to DKK 309.06B; Wegovy DKK 79bnNote
- Profitability — Operating margin 41.3%, down 289 bpsWatch
- Cash — Free cash flow DKK 58.96B, -20.1%, as capex rose 27.5%Watch
- Balance sheet — Total equity DKK 194.05B, +35.2%Note
- Accounting — Safe-zone Altman-ZOK
- Leadership — New chief executive from 7 August 2025Watch
Business
Novo Nordisk makes medicines for diabetes and obesity, led by the GLP-1 products Ozempic for type 2 diabetes and Wegovy and Saxenda for obesity, plus a rare disease portfolio of mainly growth hormone and haemophilia products. Wegovy revenue grew 36% to DKK 79 billion in 2025, its fifth year after launch.
Latest filings
- 6-K · Company announcement (foreign filer)2026-09-28
- 6-K · Company announcement (foreign filer)2026-09-21
- 6-K · Company announcement (foreign filer)2026-09-17
- 6-K · Company announcement (foreign filer)2026-09-15
- 6-K · Company announcement (foreign filer)2026-09-09
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about NOVO NORDISK A S, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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