NVO FY 2021 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

FY 2021 Earnings

Reported December 30, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$22.1B	—	$19.9B	—	10.9%
Op. Income	$9.2B	—	$8.5B	—	8.3%
Gross Margin	83.2%	—	83.5%	—	-0.3pp
Net Margin	33.9%	—	33.2%	—	0.7pp
EPS (Diluted)	$1.62	—	$1.41	—	15.1%
Free Cash Flow	$7.5B	—	$4.7B	—	59.4%

Revenue Flow

Item	Amount
REVENUE	$22.1B
Cost of Revenue	$3.7B
GROSS PROFIT	$18.4B
R&D Expenses	$2.8B
Selling & Marketing	$5.8B
General & Administrative	$634M
SG&A Expenses	$6.4B
Other Expenses	-$52M
Operating Expenses	$9.2B
Cost & Expenses	$12.9B
OPERATING INCOME	$9.2B
Interest Income	$36M
Interest Expense	$45M
Other Income/Expenses	$68M
INCOME BEFORE TAX	$9.3B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$7.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.5B
D&A	$944M
EBIT	$9.3B
EBITDA	$10.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$22.1B
Cost of Revenue	$3.7B
GROSS PROFIT	$18.4B
R&D Expenses	$2.8B
Selling & Marketing	$5.8B
General & Administrative	$634M
SG&A Expenses	$6.4B
Other Expenses	-$52M
Operating Expenses	$9.2B
Cost & Expenses	$12.9B
OPERATING INCOME	$9.2B
Interest Income	$36M
Interest Expense	$45M
Other Income/Expenses	$68M
INCOME BEFORE TAX	$9.3B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$7.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.5B
D&A	$944M
EBIT	$9.3B
EBITDA	$10.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$7.5B
Depreciation & Amortization	$944M
Stock-Based Compensation	$163M
Deferred Income Tax	$1.8B
Other Non-Cash Items	-$390M
Change in Working Capital	-$1.4B
OPERATING CASH FLOW	$8.6B
Capital Expenditure	-$1.2B
Acquisitions (Net)	-$2.9B
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$184M
Other Investing Activities	$626.7K
NET CASH FROM INVESTING	-$5.0B
Net Debt Issuance	$2.4B
Common Stock Repurchased	-$3.0B
Common Dividends Paid	-$3.4B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$4.0B
FREE CASH FLOW	$7.5B
Net Change in Cash	-$236M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$1.1B
Net Receivables	$7.3B
Inventory	$3.1B
Other Current Assets	$265M
TOTAL CURRENT ASSETS	$13.4B
PP&E (Net)	$8.7B
Goodwill	$681M
Intangible Assets	$6.1B
Long-Term Investments	$226M
Tax Assets	$1.4B
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$17.1B
TOTAL ASSETS	$30.5B
Account Payables	$1.4B
Short-Term Debt	$2.0B
Deferred Revenue	$0
Other Current Liabilities	$11.5B
TOTAL CURRENT LIABILITIES	$15.6B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$826M
Other Non-Current Liabilities	$942M
TOTAL NON-CURRENT LIABILITIES	$3.8B
TOTAL LIABILITIES	$19.4B
Common Stock	$72M
Additional Paid-In Capital	$0
Retained Earnings	$11.3B
Treasury Stock	-$940.0K
Accum. Other Comp. Income	-$269M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.1B
Minority Interest	$0
TOTAL EQUITY	$11.1B
TOTAL LIABILITIES & EQUITY	$30.5B
Total Debt	$4.2B
Net Debt	$2.5B