NVO FY 2019 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

FY 2019 Earnings

Reported December 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$19.1B	—	$17.5B	—	9.1%
Op. Income	$8.2B	—	$7.4B	—	11.1%
Gross Margin	83.5%	—	84.2%	—	-0.7pp
Net Margin	31.9%	—	34.5%	—	-2.6pp
EPS (Diluted)	$1.28	—	$1.25	—	2.8%
Free Cash Flow	$5.6B	—	$5.0B	—	10.4%

Revenue Flow

Item	Amount
REVENUE	$19.1B
Cost of Revenue	$3.1B
GROSS PROFIT	$16.0B
R&D Expenses	$2.2B
Selling & Marketing	$5.0B
General & Administrative	$628M
SG&A Expenses	$5.6B
Other Expenses	-$94M
Operating Expenses	$7.7B
Cost & Expenses	$10.9B
OPERATING INCOME	$8.2B
Interest Income	$10M
Interest Expense	$34M
Other Income/Expenses	-$616M
INCOME BEFORE TAX	$7.6B
Income Tax Expense	$1.5B
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	$887M
EBIT	$7.6B
EBITDA	$8.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$19.1B
Cost of Revenue	$3.1B
GROSS PROFIT	$16.0B
R&D Expenses	$2.2B
Selling & Marketing	$5.0B
General & Administrative	$628M
SG&A Expenses	$5.6B
Other Expenses	-$94M
Operating Expenses	$7.7B
Cost & Expenses	$10.9B
OPERATING INCOME	$8.2B
Interest Income	$10M
Interest Expense	$34M
Other Income/Expenses	-$616M
INCOME BEFORE TAX	$7.6B
Income Tax Expense	$1.5B
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	$887M
EBIT	$7.6B
EBITDA	$8.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$6.1B
Depreciation & Amortization	$887M
Stock-Based Compensation	$57M
Deferred Income Tax	$1.5B
Other Non-Cash Items	-$690M
Change in Working Capital	-$531M
OPERATING CASH FLOW	$7.3B
Capital Expenditure	-$1.8B
Acquisitions (Net)	-$16M
Purchases of Investments	-$55M
Sales/Maturities of Investments	$23M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	-$116M
Common Stock Repurchased	-$2.4B
Common Dividends Paid	-$3.0B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$5.6B
FREE CASH FLOW	$5.6B
Net Change in Cash	-$34M

Balance Sheet

Item	Amount
Cash & Equivalents	$364M
Short-Term Investments	$0
Net Receivables	$605M
Inventory	$415M
Other Current Assets	$85M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$1.2B
Goodwill	$0
Intangible Assets	$137M
Long-Term Investments	$43M
Tax Assets	$97M
Other Non-Current Assets	$20M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$3.0B
Account Payables	$150M
Short-Term Debt	$35M
Deferred Revenue	$0
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$140M
TOTAL NON-CURRENT LIABILITIES	$213M
TOTAL LIABILITIES	$1.6B
Common Stock	$11M
Additional Paid-In Capital	$0
Retained Earnings	$1.4B
Treasury Stock	-$235.3K
Accum. Other Comp. Income	-$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$106M
Net Debt	-$259M