NVO Q1 2019 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

Q1 2019 Earnings

Reported March 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$4.6B	$4.7B	$4.2B	-1.5%	8.8%
Op. Income	$2.2B	$1.7B	$2.0B	32.1%	14.4%
Gross Margin	83.8%	84.4%	84.4%	-0.5pp	-0.6pp
Net Margin	35.7%	28.6%	39.9%	7.1pp	-4.3pp
EPS (Diluted)	$0.34	$0.27	$0.34	24.6%	-0.9%
Free Cash Flow	$1.1B	$538M	$1.1B	99.7%	-0.1%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$741M
GROSS PROFIT	$3.8B
R&D Expenses	$420M
Selling & Marketing	$1.1B
General & Administrative	$143M
SG&A Expenses	$1.2B
Other Expenses	-$34M
Operating Expenses	$1.6B
Cost & Expenses	$2.4B
OPERATING INCOME	$2.2B
Interest Income	$2M
Interest Expense	$161M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$435M
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	$166M
EBIT	$2.2B
EBITDA	$2.4B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$741M
GROSS PROFIT	$3.8B
R&D Expenses	$420M
Selling & Marketing	$1.1B
General & Administrative	$143M
SG&A Expenses	$1.2B
Other Expenses	-$34M
Operating Expenses	$1.6B
Cost & Expenses	$2.4B
OPERATING INCOME	$2.2B
Interest Income	$2M
Interest Expense	$161M
Other Income/Expenses	-$159M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$435M
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	$166M
EBIT	$2.2B
EBITDA	$2.4B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$166M
Stock-Based Compensation	$0
Deferred Income Tax	$435M
Other Non-Cash Items	$352M
Change in Working Capital	-$333M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$476M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$474M
Net Debt Issuance	-$56M
Common Stock Repurchased	-$462M
Common Dividends Paid	-$1.9B
Other Financing Activities	$327M
NET CASH FROM FINANCING	-$2.1B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$1.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$0
Net Receivables	$3.9B
Inventory	$2.6B
Other Current Assets	$839M
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$7.4B
Goodwill	$0
Intangible Assets	$831M
Long-Term Investments	$267M
Tax Assets	$477M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$9.0B
TOTAL ASSETS	$17.3B
Account Payables	$661M
Short-Term Debt	$175M
Deferred Revenue	$5.1B
Other Current Liabilities	$2.7B
TOTAL CURRENT LIABILITIES	$8.6B
Long-Term Debt	$502M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$758M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$9.8B
Common Stock	$77M
Additional Paid-In Capital	$0
Retained Earnings	$7.6B
Treasury Stock	-$2M
Accum. Other Comp. Income	-$273M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.4B
Minority Interest	$0
TOTAL EQUITY	$7.4B
TOTAL LIABILITIES & EQUITY	$17.3B
Total Debt	$676M
Net Debt	-$742M