Filing Flows › Novo Nordisk A S (NVO) › Q1 2025
Novo Nordisk A S (NVO) Q1 2025 earnings results (first quarter 2025)
6-K filed May 7, 2025
Novo Nordisk A S (NVO) reported revenue of $78.1B for the first quarter 2025 (Q1 2025), +19% from a year earlier. Operating margin was 49.7%, net earnings $29.0B (37.2% of revenue).
Novo Nordisk A S, Q1 2025: revenue $78.1B (+20% year over year), operating margin 49.7%, net earnings $29.0B, operating cash flow $24.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $78.1B | — | +19% |
| Gross profit | $65.2B | — | +18% |
| Operating profit | $38.8B | — | +22% |
| Net earnings | $29.0B | — | +14% |
| Operating cash flow | $24.6B | — | +72% |
| Free cash flow | $11.2B | — | +91% |
What changed
Revenue was DKK 78.1B in Q1 2025, up 19% year over year. Injectable GLP-1 was the largest line at 43% of revenue.
Gross margin was 83.5%, down 1.3 points from a year earlier. Operating profit was DKK 38.8B, a 49.7% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 55% reached operating profit, above the 49% margin then. Operating expenses grew 12% against revenue growth of 19%. The fastest-growing cost line was Research & development (+20%). Net earnings were DKK 29.0B, up 14% year over year. The effective tax rate was 21.6%.
Operating cash flow was DKK 24.6B (up 72% year over year), 85% of net earnings. Working capital and other items used DKK 4.4B. Capital expenditures of DKK 13.4B left free cash flow of DKK 11.2B.
Questions
What was Novo Nordisk A S' revenue in the first quarter 2025?
Novo Nordisk A S (NVO) reported revenue of $78.1B for the first quarter 2025 (Q1 2025), +19% from a year earlier.
Was Novo Nordisk A S profitable in the first quarter 2025?
Operating profit was $38.8B (49.7% of revenue) and net earnings $29.0B.
Source: Novo Nordisk A S 6-K on SEC EDGAR.