Novo Nordisk A/S (NOVO-B) — Free Cash Flow Generation Index

Latest as of December 2025: -1.42x

Novo Nordisk A/S (NOVO-B) has a Free Cash Flow Generation Index of -1.42x as of December 2025. Free cash flow of Dkr-10.81 Billion represents -1% of operating cash flow (Dkr7.62 Billion). See working capital position of Novo Nordisk A/S to evaluate short-term liquidity relative to the company's equity base.

FCF Generation Index

-1.42x
Free Cash Flow / Operating CF

Free Cash Flow

Dkr-10.81 Billion
DKK

Operating Cash Flow

Dkr7.62 Billion
DKK

Capital Expenditures

Dkr18.43 Billion
DKK

Novo Nordisk A/S Free Cash Flow Generation Index (1990–2025)

Historical FCF Generation Index trend for Novo Nordisk A/S across 36 annual periods. Explore Novo Nordisk A/S (NOVO-B) debt coverage ratio to assess how comfortably operating cash covers total debt obligations.

Annual Free Cash Flow Generation for Novo Nordisk A/S (1990–2025)

Year-by-year Free Cash Flow Generation Index for Novo Nordisk A/S. For the full company profile including market capitalisation, see Novo Nordisk A/S market cap and net worth.

Year FCG Index Free Cash Flow (DKK) Operating CF Capital Expenditures YoY Change
2025 0.50x Dkr58.96 Billion Dkr119.10 Billion Dkr60.14 Billion ▼ -14.0%
2024 0.58x Dkr69.66 Billion Dkr120.97 Billion Dkr51.31 Billion ▼ -10.4%
2023 0.64x Dkr70.01 Billion Dkr108.91 Billion Dkr38.90 Billion ▼ -20.9%
2022 0.81x Dkr64.13 Billion Dkr78.89 Billion Dkr14.75 Billion ▼ -6.1%
2021 0.87x Dkr47.62 Billion Dkr55.00 Billion Dkr7.38 Billion ▲ +50.6%
2020 0.57x Dkr29.87 Billion Dkr51.95 Billion Dkr22.08 Billion ▼ -24.3%
2019 0.76x Dkr35.55 Billion Dkr46.78 Billion Dkr11.23 Billion ▲ +5.3%
2018 0.72x Dkr32.21 Billion Dkr44.62 Billion Dkr12.41 Billion ▼ -8.6%
2017 0.79x Dkr32.52 Billion Dkr41.17 Billion Dkr8.65 Billion ▼ -4.7%
2016 0.83x Dkr40.05 Billion Dkr48.31 Billion Dkr8.27 Billion ▼ -0.5%
2015 0.83x Dkr31.88 Billion Dkr38.29 Billion Dkr6.41 Billion ▼ -3.5%
2014 0.86x Dkr27.36 Billion Dkr31.69 Billion Dkr4.33 Billion ▲ +0.4%
2013 0.86x Dkr22.30 Billion Dkr25.94 Billion Dkr3.64 Billion ▲ +2.7%
2012 0.84x Dkr18.59 Billion Dkr22.21 Billion Dkr3.62 Billion ▼ -0.8%
2011 0.84x Dkr18.04 Billion Dkr21.37 Billion Dkr3.33 Billion ▲ +5.3%
2010 0.80x Dkr15.78 Billion Dkr19.68 Billion Dkr3.90 Billion ▲ +0.2%
2009 0.80x Dkr12.31 Billion Dkr15.38 Billion Dkr3.06 Billion ▼ -4.9%
2008 0.84x Dkr10.85 Billion Dkr12.90 Billion Dkr2.04 Billion ▲ +11.2%
2007 0.76x Dkr7.57 Billion Dkr10.00 Billion Dkr2.43 Billion ▲ +32.5%
2006 0.57x Dkr4.42 Billion Dkr7.74 Billion Dkr3.32 Billion ▲ +3.5%
2005 0.55x Dkr4.80 Billion Dkr8.70 Billion Dkr3.90 Billion ▼ -5.9%
2004 0.59x Dkr4.48 Billion Dkr7.64 Billion Dkr3.16 Billion ▼ -1.1%
2003 0.59x Dkr3.67 Billion Dkr6.18 Billion Dkr2.51 Billion ▲ +212.0%
2002 0.19x Dkr927.18 Million Dkr4.88 Billion Dkr3.95 Billion ▲ +118.0%
2001 0.09x Dkr375.93 Million Dkr4.31 Billion Dkr3.93 Billion ▼ -84.2%
2000 0.55x Dkr2.90 Billion Dkr5.26 Billion Dkr2.37 Billion ▲ +17.5%
1999 0.47x Dkr1.70 Billion Dkr3.63 Billion Dkr1.93 Billion ▲ +21.8%
1998 0.38x Dkr1.34 Billion Dkr3.48 Billion Dkr2.14 Billion ▲ +176.5%
1997 0.14x Dkr421.78 Million Dkr3.03 Billion Dkr2.61 Billion ▲ +311.7%
1996 -0.07x Dkr-126.28 Million Dkr1.92 Billion Dkr2.05 Billion ▼ -116.1%
1995 0.41x Dkr1.03 Billion Dkr2.53 Billion Dkr1.50 Billion ▲ +17.4%
1994 0.35x Dkr925.51 Million Dkr2.66 Billion Dkr1.74 Billion ▲ +236.4%
1993 -0.25x Dkr-487.20 Million Dkr1.91 Billion Dkr2.40 Billion ▲ +45.8%
1992 -0.47x Dkr-624.11 Million Dkr1.33 Billion Dkr1.95 Billion ▼ -240.4%
1991 -0.14x Dkr-163.80 Million Dkr1.19 Billion Dkr1.35 Billion ▼ -162.4%
1990 0.22x Dkr332.70 Million Dkr1.50 Billion Dkr1.17 Billion —
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).