Added to YB: 2026-02-10
Pitch date: 2026-02-07
NVO [neutral]
Novo Nordisk A/S
-3.04%
current return
Author Info
HatedMoats identifies hated moats. I buy companies when the market panics. Contrarian investor focused on quality, value & long-term growth. Sign up for the newsletter.
Company Info
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products.
Market Cap
DKK 1.4T
Pitch Price
DKK 317.05
Price Target
N/A
Dividend
3.76%
EV/EBITDA
9.60
P/E
13.52
EV/Sales
4.81
Sector
Pharmaceuticals
Category
turnaround
Novo Nordisk: FY2025 Review & 2026 Outlook
NVO (update - hold): FY2025 sales +10% CER to DKK 309B, but guided 2026 decline of 5-13% due to unprecedented US pricing pressure. Stock fell 16% on guidance shock. Obesity care +26% but margins compressed to 81% from 85%. Major restructuring costs & manufacturing capex ongoing. Bull case: 2026 trough year, pricing stabilizes, pipeline delivers differentiation vs Lilly competition.
Read full article (15 min)