Novo Nordisk A/S Capital Reinvestment Ratio
Novo Nordisk A/S capital reinvestment ratio. Novo Nordisk A/S (NOVO-B) has a Capital Reinvestment Ratio of 2.42x as of December 2025, meaning it reinvests 2% of its operating cash flow (Dkr7.62 Billion) in capital expenditures (Dkr18.43 Billion). See NOVO-B free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of Novo Nordisk A/S (1990–2025)
Capital reinvestment ratio of Novo Nordisk A/S from 1990 to 2025. This chart tracks Novo Nordisk A/S's Capital Reinvestment Ratio across 36 annual periods. See NOVO-B free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
Novo Nordisk A/S Capital Reinvestment Ratio by Year (1990–2025)
Novo Nordisk A/S capital reinvestment ratio by year from 1990 to 2025. For the full cash flow conversion analysis, see how efficiently does Novo Nordisk A/S generate cash.
| Year | Reinvestment Ratio | Operating CF (DKK) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.50x | Dkr119.10 Billion | Dkr60.14 Billion | ▲ +19.0% |
| 2024 | 0.42x | Dkr120.97 Billion | Dkr51.31 Billion | ▲ +18.8% |
| 2023 | 0.36x | Dkr108.91 Billion | Dkr38.90 Billion | ▲ +91.0% |
| 2022 | 0.19x | Dkr78.89 Billion | Dkr14.75 Billion | ▲ +39.3% |
| 2021 | 0.13x | Dkr55.00 Billion | Dkr7.38 Billion | ▼ -68.4% |
| 2020 | 0.43x | Dkr51.95 Billion | Dkr22.08 Billion | ▲ +77.0% |
| 2019 | 0.24x | Dkr46.78 Billion | Dkr11.23 Billion | ▼ -13.7% |
| 2018 | 0.28x | Dkr44.62 Billion | Dkr12.41 Billion | ▲ +32.4% |
| 2017 | 0.21x | Dkr41.17 Billion | Dkr8.65 Billion | ▲ +22.8% |
| 2016 | 0.17x | Dkr48.31 Billion | Dkr8.27 Billion | ▲ +2.3% |
| 2015 | 0.17x | Dkr38.29 Billion | Dkr6.41 Billion | ▲ +22.3% |
| 2014 | 0.14x | Dkr31.69 Billion | Dkr4.33 Billion | ▼ -2.6% |
| 2013 | 0.14x | Dkr25.94 Billion | Dkr3.64 Billion | ▼ -13.9% |
| 2012 | 0.16x | Dkr22.21 Billion | Dkr3.62 Billion | ▲ +4.6% |
| 2011 | 0.16x | Dkr21.37 Billion | Dkr3.33 Billion | ▼ -21.3% |
| 2010 | 0.20x | Dkr19.68 Billion | Dkr3.90 Billion | ▼ -0.6% |
| 2009 | 0.20x | Dkr15.38 Billion | Dkr3.06 Billion | ▲ +25.8% |
| 2008 | 0.16x | Dkr12.90 Billion | Dkr2.04 Billion | ▼ -34.8% |
| 2007 | 0.24x | Dkr10.00 Billion | Dkr2.43 Billion | ▼ -43.3% |
| 2006 | 0.43x | Dkr7.74 Billion | Dkr3.32 Billion | ▼ -4.3% |
| 2005 | 0.45x | Dkr8.70 Billion | Dkr3.90 Billion | ▲ +8.3% |
| 2004 | 0.41x | Dkr7.64 Billion | Dkr3.16 Billion | ▲ +1.7% |
| 2003 | 0.41x | Dkr6.18 Billion | Dkr2.51 Billion | ▼ -49.8% |
| 2002 | 0.81x | Dkr4.88 Billion | Dkr3.95 Billion | ▼ -11.3% |
| 2001 | 0.91x | Dkr4.31 Billion | Dkr3.93 Billion | ▲ +103.0% |
| 2000 | 0.45x | Dkr5.26 Billion | Dkr2.37 Billion | ▼ -15.4% |
| 1999 | 0.53x | Dkr3.63 Billion | Dkr1.93 Billion | ▼ -13.6% |
| 1998 | 0.62x | Dkr3.48 Billion | Dkr2.14 Billion | ▼ -28.5% |
| 1997 | 0.86x | Dkr3.03 Billion | Dkr2.61 Billion | ▼ -19.2% |
| 1996 | 1.07x | Dkr1.92 Billion | Dkr2.05 Billion | ▲ +80.1% |
| 1995 | 0.59x | Dkr2.53 Billion | Dkr1.50 Billion | ▼ -9.3% |
| 1994 | 0.65x | Dkr2.66 Billion | Dkr1.74 Billion | ▼ -48.0% |
| 1993 | 1.25x | Dkr1.91 Billion | Dkr2.40 Billion | ▼ -14.6% |
| 1992 | 1.47x | Dkr1.33 Billion | Dkr1.95 Billion | ▲ +29.2% |
| 1991 | 1.14x | Dkr1.19 Billion | Dkr1.35 Billion | ▲ +46.1% |
| 1990 | 0.78x | Dkr1.50 Billion | Dkr1.17 Billion | — |