NVO FY 2018 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

FY 2018 Earnings

Reported December 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$17.5B	—	$17.5B	—	0.1%
Op. Income	$7.4B	—	$7.7B	—	-3.5%
Gross Margin	84.2%	—	84.2%	—	0.0pp
Net Margin	34.5%	—	34.1%	—	0.4pp
EPS (Diluted)	$1.25	—	$1.21	—	3.5%
Free Cash Flow	$5.0B	—	$5.1B	—	-1.0%

Revenue Flow

Item	Amount
REVENUE	$17.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$14.8B
R&D Expenses	$2.3B
Selling & Marketing	$4.6B
General & Administrative	$613M
SG&A Expenses	$5.2B
Other Expenses	-$180M
Operating Expenses	$7.4B
Cost & Expenses	$10.1B
OPERATING INCOME	$7.4B
Interest Income	$8M
Interest Expense	$13M
Other Income/Expenses	$57M
INCOME BEFORE TAX	$7.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$6.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6.1B
D&A	$615M
EBIT	$7.5B
EBITDA	$8.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$17.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$14.8B
R&D Expenses	$2.3B
Selling & Marketing	$4.6B
General & Administrative	$613M
SG&A Expenses	$5.2B
Other Expenses	-$180M
Operating Expenses	$7.4B
Cost & Expenses	$10.1B
OPERATING INCOME	$7.4B
Interest Income	$8M
Interest Expense	$13M
Other Income/Expenses	$57M
INCOME BEFORE TAX	$7.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$6.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$6.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6.1B
D&A	$615M
EBIT	$7.5B
EBITDA	$8.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$6.1B
Depreciation & Amortization	$615M
Stock-Based Compensation	$65M
Deferred Income Tax	$1.4B
Other Non-Cash Items	-$622M
Change in Working Capital	-$528M
OPERATING CASH FLOW	$7.0B
Capital Expenditure	-$1.9B
Acquisitions (Net)	$58M
Purchases of Investments	-$39M
Sales/Maturities of Investments	$28M
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$15M
Common Stock Repurchased	-$2.4B
Common Dividends Paid	-$3.0B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$5.4B
FREE CASH FLOW	$5.0B
Net Change in Cash	-$240M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.4B
Short-Term Investments	$0
Net Receivables	$4.2B
Inventory	$2.6B
Other Current Assets	$675M
TOTAL CURRENT ASSETS	$9.3B
PP&E (Net)	$6.6B
Goodwill	$0
Intangible Assets	$806M
Long-Term Investments	$278M
Tax Assets	$453M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$8.1B
TOTAL ASSETS	$17.4B
Account Payables	$1.1B
Short-Term Debt	$81M
Deferred Revenue	$7.0B
Other Current Liabilities	$6.3B
TOTAL CURRENT LIABILITIES	$8.5B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$728M
TOTAL NON-CURRENT LIABILITIES	$747M
TOTAL LIABILITIES	$9.2B
Common Stock	$77M
Additional Paid-In Capital	$0
Retained Earnings	$8.4B
Treasury Stock	-$2M
Accum. Other Comp. Income	-$321M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.1B
Minority Interest	$0
TOTAL EQUITY	$8.1B
TOTAL LIABILITIES & EQUITY	$17.4B
Total Debt	$81M
Net Debt	-$2.4B