NVONovo Nordisk A/S

$47.19

Is it safe?

Can NVO take a bad year?

Novo Nordisk A/S carries $116.0B of net debt at 0.78× EBITDA: a load its earnings can carry.

$116.0B

Net debt · as at FY2025 · under two and a half years of EBITDA, comfortable

Net debt / EBITDA
0.78×

Net debt / EBITDA · 0.61× a year ago · the load is going up

Interest cover
30.3×

Interest cover · operating profit covers the interest bill several times over

Annualised volatility
49%

Annualised volatility · roughly twice as jumpy as the market

Details
Total debtFY2025
$143.0B
Cash and short-term investments
$27.0B
Net debt
$116.0B
EBITDA, trailing twelve months
$149.6B
Operating profit, trailing twelve months
$127.7B
Debt / equity
0.74×
Total debt / EBITDA
0.95×
Annualised volatilitytwo years of daily moves
49%
Worst drawdown on file
−75%
Below its 52-week high
−24%

Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.