Novo Nordisk A/S NVO New York Stock Exchange

Novo Nordisk A/S (NVO) generated $119.1B in operating cash flow for fiscal year 2025. After capital expenditures of $90.11B, free cash flow was $28.99B.

Free cash flow margin was 9.8% of revenue. Cash conversion ratio was 1.16x, indicating earnings are backed by cash.

The company returned $49.78B in dividends and $1.33B in share buybacks to shareholders during the period.

Criteria supported by this page:

• HEALTH (50/100, Partial) — cash generation is adequate but may not fully cover debt in stressed conditions
• MOAT (85/100, Pass) — $28.99B (9.8% FCF margin) supports a durable competitive advantage
• INCOME (100/100) — Cash conversion ratio was 1.16x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 81/100 with 5/7 criteria passed.