Novo Nordisk A/S (NOVO-B) — Financial Flexibility Index

Latest as of December 2025: 0.07x

Novo Nordisk A/S (NOVO-B) has a Financial Flexibility Index of 0.07x as of December 2025. Free cash flow of Dkr26.05 Billion (operating CF Dkr7.62 Billion minus capex Dkr18.43 Billion) represents 0% of total liabilities (Dkr348.86 Billion). Check NOVO-B total capital reinvestment ratio to assess the company's total reinvestment commitment from operating cash flow.

Financial Flexibility Index

0.07x
Free Cash Flow / Total Liabilities

Free Cash Flow

Dkr26.05 Billion
Operating CF − Capex

Total Liabilities

Dkr348.86 Billion
DKK

Capital Expenditures

Dkr18.43 Billion
DKK

Novo Nordisk A/S Financial Flexibility Index (1990–2025)

Historical Financial Flexibility Index trend for Novo Nordisk A/S across 36 annual periods. For the full cash flow conversion analysis, see NOVO-B operating cash flow.

Annual Financial Flexibility Index for Novo Nordisk A/S (1990–2025)

Year-by-year free cash flow to debt coverage for Novo Nordisk A/S. Explore Novo Nordisk A/S (NOVO-B) debt coverage ratio to assess how comfortably operating cash covers total debt obligations.

Year Flexibility Index Free Cash Flow (DKK) Operating CF Total Liabilities YoY Change
2025 0.51x Dkr179.24 Billion Dkr119.10 Billion Dkr348.86 Billion ▼ -3.9%
2024 0.53x Dkr172.28 Billion Dkr120.97 Billion Dkr322.31 Billion ▼ -24.8%
2023 0.71x Dkr147.80 Billion Dkr108.91 Billion Dkr207.93 Billion ▲ +19.8%
2022 0.59x Dkr93.64 Billion Dkr78.89 Billion Dkr157.77 Billion ▲ +17.7%
2021 0.50x Dkr62.38 Billion Dkr55.00 Billion Dkr123.76 Billion ▼ -44.4%
2020 0.91x Dkr74.03 Billion Dkr51.95 Billion Dkr81.60 Billion ▲ +6.4%
2019 0.85x Dkr58.01 Billion Dkr46.78 Billion Dkr68.02 Billion ▼ -11.9%
2018 0.97x Dkr57.03 Billion Dkr44.62 Billion Dkr58.93 Billion ▲ +2.1%
2017 0.95x Dkr49.82 Billion Dkr41.17 Billion Dkr52.54 Billion ▼ -12.4%
2016 1.08x Dkr56.58 Billion Dkr48.31 Billion Dkr52.27 Billion ▲ +8.6%
2015 1.00x Dkr44.69 Billion Dkr38.29 Billion Dkr44.83 Billion ▲ +1.7%
2014 0.98x Dkr36.03 Billion Dkr31.69 Billion Dkr36.77 Billion ▼ -8.0%
2013 1.07x Dkr29.59 Billion Dkr25.94 Billion Dkr27.77 Billion ▲ +3.3%
2012 1.03x Dkr25.84 Billion Dkr22.21 Billion Dkr25.04 Billion ▲ +13.8%
2011 0.91x Dkr24.71 Billion Dkr21.37 Billion Dkr27.25 Billion ▼ -6.0%
2010 0.96x Dkr23.58 Billion Dkr19.68 Billion Dkr24.44 Billion ▼ -0.6%
2009 0.97x Dkr18.44 Billion Dkr15.38 Billion Dkr19.01 Billion ▲ +14.7%
2008 0.85x Dkr14.94 Billion Dkr12.90 Billion Dkr17.67 Billion ▲ +6.0%
2007 0.80x Dkr12.43 Billion Dkr10.00 Billion Dkr15.57 Billion ▲ +5.1%
2006 0.76x Dkr11.06 Billion Dkr7.74 Billion Dkr14.57 Billion ▼ -13.8%
2005 0.88x Dkr12.60 Billion Dkr8.70 Billion Dkr14.30 Billion ▼ -10.3%
2004 0.98x Dkr10.81 Billion Dkr7.64 Billion Dkr11.01 Billion ▲ +3.8%
2003 0.95x Dkr8.69 Billion Dkr6.18 Billion Dkr9.19 Billion ▼ -8.3%
2002 1.03x Dkr8.83 Billion Dkr4.88 Billion Dkr8.56 Billion ▲ +9.4%
2001 0.94x Dkr8.25 Billion Dkr4.31 Billion Dkr8.75 Billion ▲ +9.4%
2000 0.86x Dkr7.63 Billion Dkr5.26 Billion Dkr8.86 Billion ▲ +92.3%
1999 0.45x Dkr5.56 Billion Dkr3.63 Billion Dkr12.41 Billion ▼ -25.8%
1998 0.60x Dkr5.61 Billion Dkr3.48 Billion Dkr9.30 Billion ▼ -19.7%
1997 0.75x Dkr5.64 Billion Dkr3.03 Billion Dkr7.51 Billion ▼ -5.0%
1996 0.79x Dkr3.97 Billion Dkr1.92 Billion Dkr5.02 Billion ▲ +12.3%
1995 0.70x Dkr4.03 Billion Dkr2.53 Billion Dkr5.72 Billion ▲ +27.8%
1994 0.55x Dkr4.40 Billion Dkr2.66 Billion Dkr8.00 Billion ▼ -7.0%
1993 0.59x Dkr4.31 Billion Dkr1.91 Billion Dkr7.29 Billion ▲ +12.2%
1992 0.53x Dkr3.28 Billion Dkr1.33 Billion Dkr6.22 Billion ▲ +20.0%
1991 0.44x Dkr2.54 Billion Dkr1.19 Billion Dkr5.77 Billion ▼ -10.1%
1990 0.49x Dkr2.68 Billion Dkr1.50 Billion Dkr5.47 Billion —
Financial Flexibility Index = (Operating CF − Capex) / Total Liabilities = Free Cash Flow / Total Liabilities