Filing Flows › Novo Nordisk A S (NVO) › Q3 2026
Novo Nordisk A S (NVO) Q3 2026 earnings results (third quarter 2026)
6-K filed Nov 4, 2026
Novo Nordisk A S (NVO) reported revenue of $79.2B for the third quarter 2026 (Q3 2026), +6% from a year earlier. Operating margin was 29.1%, net earnings $16.7B (21.1% of revenue).
Novo Nordisk A S, Q3 2026: revenue $79.2B (+6% year over year), operating margin 29.1%, net earnings $16.7B, operating cash flow $41.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.2B | — | +6% |
| Gross profit | $61.0B | — | +7% |
| Operating profit | $23.0B | — | -3% |
| Net earnings | $16.7B | — | -16% |
| Operating cash flow | $41.7B | — | -10% |
| Free cash flow | $28.5B | — | -12% |
What changed
Revenue was DKK 79.2B in Q3 2026, up 6% year over year. Ozempic ® was the largest line at 38% of revenue.
Gross margin was 77.0%, up 0.9 points from Q3 2025. Operating profit was DKK 23.0B, a 29.1% margin (down 2.5 points year over year). Operating profit fell DKK 0.67B even though revenue rose DKK 4.2B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 14% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+1428%). Net earnings were DKK 16.7B, down 16% year over year. The effective tax rate was 21.9%.
Operating cash flow was DKK 41.7B (down 10% year over year), 249% of net earnings. Working capital and other items added DKK 25.0B. Capital expenditures of DKK 13.2B left free cash flow of DKK 28.5B.
Questions
What was Novo Nordisk A S' revenue in the third quarter 2026?
Novo Nordisk A S (NVO) reported revenue of $79.2B for the third quarter 2026 (Q3 2026), +6% from a year earlier.
Was Novo Nordisk A S profitable in the third quarter 2026?
Operating profit was $23.0B (29.1% of revenue) and net earnings $16.7B.
Source: Novo Nordisk A S 6-K on SEC EDGAR.