NVO Q1 2017 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

Q1 2017 Earnings

Reported March 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$4.5B	$4.6B	$4.3B	-3.8%	4.6%
Op. Income	$2.1B	$1.8B	$1.9B	20.4%	9.6%
Gross Margin	85.1%	83.4%	84.4%	1.7pp	0.6pp
Net Margin	35.7%	29.4%	34.7%	6.3pp	0.9pp
EPS (Diluted)	$0.32	$0.27	$0.29	17.3%	9.1%
Free Cash Flow	$1.6B	$1.3B	$992M	23.8%	64.0%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$666M
GROSS PROFIT	$3.8B
R&D Expenses	$515M
Selling & Marketing	$1.1B
General & Administrative	$143M
SG&A Expenses	$1.2B
Other Expenses	-$44M
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$2.1B
Interest Income	$40M
Interest Expense	$117M
Other Income/Expenses	-$76M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$446M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$111M
EBIT	$2.2B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$666M
GROSS PROFIT	$3.8B
R&D Expenses	$515M
Selling & Marketing	$1.1B
General & Administrative	$143M
SG&A Expenses	$1.2B
Other Expenses	-$44M
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$2.1B
Interest Income	$40M
Interest Expense	$117M
Other Income/Expenses	-$76M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$446M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$111M
EBIT	$2.2B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$111M
Stock-Based Compensation	$0
Deferred Income Tax	$446M
Other Non-Cash Items	$313M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$268M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$158M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$108M
Net Debt Issuance	$0
Common Stock Repurchased	-$665M
Common Dividends Paid	-$1.8B
Other Financing Activities	$308M
NET CASH FROM FINANCING	-$2.2B
FREE CASH FLOW	$1.6B
Net Change in Cash	-$362M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.6B
Short-Term Investments	$157M
Net Receivables	$3.1B
Inventory	$2.4B
Other Current Assets	$913M
TOTAL CURRENT ASSETS	$8.7B
PP&E (Net)	$4.9B
Goodwill	$0
Intangible Assets	$434M
Long-Term Investments	$320M
Tax Assets	$416M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$6.0B
TOTAL ASSETS	$14.8B
Account Payables	$593M
Short-Term Debt	$96M
Deferred Revenue	$4.1B
Other Current Liabilities	$2.9B
TOTAL CURRENT LIABILITIES	$7.7B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$783M
TOTAL NON-CURRENT LIABILITIES	$785M
TOTAL LIABILITIES	$8.4B
Common Stock	$80M
Additional Paid-In Capital	$0
Retained Earnings	$6.4B
Treasury Stock	-$2M
Accum. Other Comp. Income	-$146M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$0
TOTAL EQUITY	$6.3B
TOTAL LIABILITIES & EQUITY	$14.8B
Total Debt	$96M
Net Debt	-$2.5B