Filing Flows › Comparisons › NVO vs AZN
Novo Nordisk A S vs AstraZeneca: NVO and AZN compared
Novo Nordisk A S is the larger company: $309.1B of revenue in its latest quarter (FY2025) against $30.7B for AstraZeneca (Q2 2026). AstraZeneca is growing faster (+9% against +6% a year earlier). Novo Nordisk A S is more profitable, with an operating margin of 41.3% against 24.2%.
Where the money goes: NVO and AZN
Novo Nordisk A S (NVO) · FY2025
Novo Nordisk A S, FY2025: revenue $309.1B (+6% year over year), operating margin 41.3%, net earnings $102.4B, operating cash flow $119.1B. The chart follows the revenue to costs, profit and cash.
AstraZeneca (AZN) · Q2 2026
AstraZeneca, Q2 2026: revenue $30.7B (+9% year over year), operating margin 24.2%, net earnings $5.6B. The chart follows the revenue to costs, profit and cash.
| Novo Nordisk A S (NVO) | AstraZeneca (AZN) | |
|---|---|---|
| Latest quarter | FY2025 | Q2 2026 |
| Revenue | $309.1B | $30.7B |
| Revenue growth, Y/Y | +6% | +9% |
| Gross margin | 81.0% | 83.0% |
| Operating margin | 41.3% | 24.2% |
| Net earnings | $102.4B | $5.6B |
| Net margin | 33.1% | 18.2% |
| Operating cash flow | $119.1B | — |
| Free cash flow | $59.0B | — |
| Market value | $186.0B | — |
| P/E | 1.8× | — |
| Analysts’ mean target | $45.56 | — |
Where the revenue comes from
AstraZeneca
- Oncology: $14.1B (46%)
- BioPharmaceuticals: $11.2B (36%)
- Rare Disease: $4.9B (16%)
- Other Medicines: $486M (2%)
Questions
Which is bigger, Novo Nordisk A S or AstraZeneca?
Novo Nordisk A S is the larger company: $309.1B of revenue in its latest quarter (FY2025) against $30.7B for AstraZeneca (Q2 2026).
Is Novo Nordisk A S or AstraZeneca growing faster?
AstraZeneca is growing faster (+9% against +6% a year earlier).
Which is more profitable, Novo Nordisk A S or AstraZeneca?
Novo Nordisk A S is more profitable, with an operating margin of 41.3% against 24.2%.
More: Novo Nordisk A S earnings · how Novo Nordisk A S makes money · AstraZeneca earnings · how AstraZeneca makes money
From the companies' latest 10-Q, 10-K or earnings release (20-F filed Feb 4, 2026; 6-K filed Jul 27, 2026). Fiscal quarters can end on different dates. Not investment advice.