Filing Flows › Novo Nordisk A S (NVO) › Q1 2026
Novo Nordisk A S (NVO) Q1 2026 earnings results (first quarter 2026)
6-K filed May 6, 2026
Novo Nordisk A S (NVO) reported revenue of $96.8B for the first quarter 2026 (Q1 2026) and +22% from the quarter before. Operating margin was 61.6%, net earnings $48.6B (50.2% of revenue).
Novo Nordisk A S, Q1 2026: revenue $96.8B, operating margin 61.6%, net earnings $48.6B, operating cash flow $24.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $96.8B | +22% | — |
| Gross profit | $83.2B | +30% | — |
| Operating profit | $59.6B | +88% | — |
| Net earnings | $48.6B | +81% | — |
| Operating cash flow | $24.1B | +216% | — |
| Free cash flow | $12.8B | — | — |
What changed
Revenue was DKK 96.8B in Q1 2026, up 22% from the previous quarter. Obesity and Diabetes care was the largest line at 94% of revenue.
Gross margin was 86.0%. Operating profit was DKK 59.6B, a 61.6% margin. Net earnings were DKK 48.6B. The effective tax rate was 21.9%.
Operating cash flow was DKK 24.1B, 50% of net earnings. Working capital and other items used DKK 24.5B. Capital expenditures of DKK 11.3B left free cash flow of DKK 12.8B.
Questions
What was Novo Nordisk A S' revenue in the first quarter 2026?
Novo Nordisk A S (NVO) reported revenue of $96.8B for the first quarter 2026 (Q1 2026) and +22% from the quarter before.
Was Novo Nordisk A S profitable in the first quarter 2026?
Operating profit was $59.6B (61.6% of revenue) and net earnings $48.6B.
Source: Novo Nordisk A S 6-K on SEC EDGAR.