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Bristol Myers Squibb vs Novo Nordisk A S: BMY and NVO compared
Bristol Myers Squibb is the larger company: $13.1B of revenue in its latest quarter (Q3 2026) against $79.2B for Novo Nordisk A S (Q3 2026). Bristol Myers Squibb is growing faster (+7% against +6% a year earlier). Novo Nordisk A S is more profitable, with an operating margin of 29.1% against 19.4%.
Where the money goes: BMY and NVO
Bristol Myers Squibb (BMY) · Q3 2026
Bristol Myers Squibb, Q3 2026: revenue $13.1B (+7% year over year), operating margin 19.4%, net earnings $2.2B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
Novo Nordisk A S (NVO) · Q3 2026
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.
| Bristol Myers Squibb (BMY) | Novo Nordisk A S (NVO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $13.1B | $79.2B |
| Revenue growth, Y/Y | +7% | +6% |
| Gross margin | — | 77.0% |
| Operating margin | 19.4% | 29.1% |
| Net earnings | $2.2B | $16.7B |
| Net margin | 16.5% | 21.1% |
| Operating cash flow | $4.2B | $41.7B |
| Free cash flow | $3.8B | $28.5B |
| Market value | $127.6B | $186.0B |
| P/E | 13.7× | 1.8× |
| Analysts’ mean target | $65.25 | $45.56 |
Where the revenue comes from
Bristol Myers Squibb
- Net product sales: $12.6B (97%)
- Camzyos: $420M (3%)
Novo Nordisk A S
- Ozempic ®: $29.7B (38%)
- Wegovy ® injectable: $20.4B (26%)
- Insulin: $12.3B (15%)
- Ozempic ® pill / Rybelsus ®: $4.9B (6%)
Questions
Which is bigger, Bristol Myers Squibb or Novo Nordisk A S?
Bristol Myers Squibb is the larger company: $13.1B of revenue in its latest quarter (Q3 2026) against $79.2B for Novo Nordisk A S (Q3 2026).
Is Bristol Myers Squibb or Novo Nordisk A S growing faster?
Bristol Myers Squibb is growing faster (+7% against +6% a year earlier).
Which is more profitable, Bristol Myers Squibb or Novo Nordisk A S?
Novo Nordisk A S is more profitable, with an operating margin of 29.1% against 19.4%.
More: Bristol Myers Squibb earnings · how Bristol Myers Squibb makes money · Novo Nordisk A S earnings · how Novo Nordisk A S makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 6-K filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.