Free cash flow · 2015–2025
Novo Nordisk A S free cash flow
$8.9B−16.6% · FY2025
Novo Nordisk A S (NVO) reported $8.9B in free cash flow for fiscal 2025, −16.6% year on year.
| Fiscal year | Free cash flow | Change | Filing |
|---|---|---|---|
| FY2025 | $8.9B | −16.6% | Derived |
| FY2024 | $10.7B | −11.2% | Derived |
| FY2023 | $12.1B | +27.7% | Derived |
| FY2022 | $9.4B | +22.1% | Derived |
| FY2021 | $7.7B | +9.5% | Derived |
| FY2020 | $7.1B | +24.5% | Derived |
| FY2019 | $5.7B | +2.4% | Derived |
| FY2018 | $5.5B | +8.8% | Derived |
| FY2017 | $5.1B | −16.9% | Derived |
| FY2016 | $6.1B | +24.7% | Derived |
| FY2015 | $4.9B | — | Derived |
Free cash flow — Free cash flow is operating cash flow minus capital expenditure: what is left once the company has paid to maintain and expand its asset base. We calculate it from two lines in the same filing, and a company is only ranked here if it reported both.
Every row links to its own SEC filing · Fiscal year 2025 · Data as of September 25, 2026 · 2015–2025 compound annual growth +6.1%
Figures are reported under IFRS in DKK and converted to US dollars at ECB reference rates — fiscal 2025 average 6.605 DKK/$ for income items, year-end 6.357 DKK/$ for balance-sheet items.
Calculated from two reported figures, so it has no single filing of its own.
Free cash flow at companies of similar size
Cite this page
Ready-made references for the figures on this page, as published on September 25, 2026.
Wikipedia
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CompaniesRanked. (September 25, 2026). Novo Nordisk A S free cash flow. CompaniesRanked. https://companiesranked.com/en/company/novo-nordisk-a-s/free-cash-flowBibTeX
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author = {{CompaniesRanked}},
title = {{Novo Nordisk A S free cash flow}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/company/novo-nordisk-a-s/free-cash-flow}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.