NVO Q1 2018 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

Q1 2018 Earnings

Reported March 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$4.2B	$4.4B	$4.5B	-3.8%	-5.3%
Op. Income	$2.0B	$1.6B	$2.1B	23.9%	-7.7%
Gross Margin	84.4%	83.2%	85.1%	1.2pp	-0.6pp
Net Margin	39.9%	29.5%	35.7%	10.4pp	4.2pp
EPS (Diluted)	$0.34	$0.26	$0.32	31.7%	8.4%
Free Cash Flow	$1.1B	$439M	$1.6B	144.8%	-34.0%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$658M
GROSS PROFIT	$3.6B
R&D Expenses	$520M
Selling & Marketing	$1.0B
General & Administrative	$135M
SG&A Expenses	$1.1B
Other Expenses	-$55M
Operating Expenses	$1.6B
Cost & Expenses	$2.3B
OPERATING INCOME	$2.0B
Interest Income	$188M
Interest Expense	$6M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$448M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$115M
EBIT	$2.1B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$658M
GROSS PROFIT	$3.6B
R&D Expenses	$520M
Selling & Marketing	$1.0B
General & Administrative	$135M
SG&A Expenses	$1.1B
Other Expenses	-$55M
Operating Expenses	$1.6B
Cost & Expenses	$2.3B
OPERATING INCOME	$2.0B
Interest Income	$188M
Interest Expense	$6M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$448M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$115M
EBIT	$2.1B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$115M
Stock-Based Compensation	$0
Deferred Income Tax	$448M
Other Non-Cash Items	-$129M
Change in Working Capital	$101M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$463M
Acquisitions (Net)	$58M
Purchases of Investments	$139M
Sales/Maturities of Investments	$940.0K
Other Investing Activities	-$137M
NET CASH FROM INVESTING	-$403M
Net Debt Issuance	$0
Common Stock Repurchased	-$679M
Common Dividends Paid	-$1.9B
Other Financing Activities	$314M
NET CASH FROM FINANCING	-$2.2B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$2.9B
Inventory	$2.5B
Other Current Assets	$1.1B
TOTAL CURRENT ASSETS	$7.8B
PP&E (Net)	$5.7B
Goodwill	$0
Intangible Assets	$632M
Long-Term Investments	$244M
Tax Assets	$300M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$6.8B
TOTAL ASSETS	$14.7B
Account Payables	$645M
Short-Term Debt	$36M
Deferred Revenue	$3.8B
Other Current Liabilities	$2.5B
TOTAL CURRENT LIABILITIES	$6.9B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$124M
Other Non-Current Liabilities	$683M
TOTAL NON-CURRENT LIABILITIES	$807M
TOTAL LIABILITIES	$7.7B
Common Stock	$78M
Additional Paid-In Capital	$0
Retained Earnings	$6.8B
Treasury Stock	-$2M
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.9B
Minority Interest	$0
TOTAL EQUITY	$6.9B
TOTAL LIABILITIES & EQUITY	$14.7B
Total Debt	$36M
Net Debt	-$1.6B