Filing Flows › Novo Nordisk A S (NVO) › FY2024
Novo Nordisk A S (NVO) FY2024 earnings results (fiscal 2024)
20-F filed Feb 5, 2025
Novo Nordisk A S (NVO) reported revenue of $290.4B for the fiscal 2024 (FY2024), +25% from a year earlier. Operating margin was 44.2%, net earnings $101.0B (34.8% of revenue).
Novo Nordisk A S, FY2024: revenue $290.4B (+25% year over year), operating margin 44.2%, net earnings $101.0B, operating cash flow $121.0B. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $290.4B | — | +25% |
| Gross profit | $245.9B | — | +25% |
| Operating profit | $128.3B | — | +25% |
| Net earnings | $101.0B | — | +21% |
| Operating cash flow | $121.0B | — | +11% |
| Free cash flow | $73.8B | — | -11% |
What changed
Revenue was DKK 290.4B in FY2024, up 25% year over year.
Gross margin was 84.7%, up 0.1 points from FY2023. Operating profit was DKK 128.3B, a 44.2% margin (unchanged year over year). Of the extra revenue versus FY2023, 44% reached operating profit, above the 44% margin then. Operating expenses grew 25% against revenue growth of 25%. The fastest-growing cost line was Research & development (+48%). Net earnings were DKK 101.0B, up 21% year over year. The effective tax rate was 20.6%.
Operating cash flow was DKK 121.0B (up 11% year over year), 120% of net earnings. Non-cash charges added back DKK 8.5B of depreciation and amortization and DKK 2.3B of share-based compensation. Working capital and other items added DKK 9.1B. Capital expenditures of DKK 47.2B left free cash flow of DKK 73.8B.
Questions
What was Novo Nordisk A S' revenue in the fiscal 2024?
Novo Nordisk A S (NVO) reported revenue of $290.4B for the fiscal 2024 (FY2024), +25% from a year earlier.
Was Novo Nordisk A S profitable in the fiscal 2024?
Operating profit was $128.3B (44.2% of revenue) and net earnings $101.0B.
Source: Novo Nordisk A S 20-F on SEC EDGAR.