Novo Nordisk A/S NVO New York Stock Exchange

Novo Nordisk A/S (NVO) generated $7.62B in operating cash flow for quarter ending 2025-12-31. After capital expenditures of $18.43B, free cash flow was $-10.81B.

Free cash flow margin was -13.8% of revenue. Cash conversion ratio was 0.28x, suggesting some earnings are non-cash.

The company returned $256.81M in dividends and $6.89M in share buybacks to shareholders during the quarter.

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) — $-10.81B (-13.8% margin) supports a durable competitive advantage
• INCOME (100/100) — Cash conversion ratio was 0.28x suggests some earnings are non-cash items

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