NVO Q2 2019 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

Q2 2019 Earnings

Reported June 29, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$4.7B	$4.6B	$4.3B	2.5%	9.6%
Op. Income	$2.1B	$2.2B	$1.9B	-5.5%	10.2%
Gross Margin	83.9%	83.8%	84.1%	0.0pp	-0.3pp
Net Margin	31.9%	35.7%	37.7%	-3.7pp	-5.8pp
EPS (Diluted)	$0.32	$0.34	$0.33	-7.3%	-5.2%
Free Cash Flow	$1.9B	$1.1B	$2.1B	78.9%	-7.2%

Revenue Flow

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$760M
GROSS PROFIT	$3.9B
R&D Expenses	$557M
Selling & Marketing	$1.2B
General & Administrative	$133M
SG&A Expenses	$1.3B
Other Expenses	-$40M
Operating Expenses	$1.8B
Cost & Expenses	$2.6B
OPERATING INCOME	$2.1B
Interest Income	$2M
Interest Expense	$207M
Other Income/Expenses	-$205M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$399M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$174M
EBIT	$2.1B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$760M
GROSS PROFIT	$3.9B
R&D Expenses	$557M
Selling & Marketing	$1.2B
General & Administrative	$133M
SG&A Expenses	$1.3B
Other Expenses	-$40M
Operating Expenses	$1.8B
Cost & Expenses	$2.6B
OPERATING INCOME	$2.1B
Interest Income	$2M
Interest Expense	$207M
Other Income/Expenses	-$205M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$399M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$174M
EBIT	$2.1B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$174M
Stock-Based Compensation	$0
Deferred Income Tax	$399M
Other Non-Cash Items	$517M
Change in Working Capital	-$141M
OPERATING CASH FLOW	$2.4B
Capital Expenditure	-$435M
Acquisitions (Net)	-$8M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$107M
NET CASH FROM INVESTING	-$444M
Net Debt Issuance	-$12M
Common Stock Repurchased	-$718M
Common Dividends Paid	$0
Other Financing Activities	-$327M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$1.9B
Net Change in Cash	$846M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$0
Net Receivables	$4.2B
Inventory	$2.7B
Other Current Assets	$609M
TOTAL CURRENT ASSETS	$9.2B
PP&E (Net)	$7.6B
Goodwill	$0
Intangible Assets	$924M
Long-Term Investments	$329M
Tax Assets	$468M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$9.3B
TOTAL ASSETS	$18.5B
Account Payables	$825M
Short-Term Debt	$197M
Deferred Revenue	$5.5B
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$8.9B
Long-Term Debt	$466M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$85M
Other Non-Current Liabilities	$738M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$10.2B
Common Stock	$75M
Additional Paid-In Capital	$0
Retained Earnings	$8.4B
Treasury Stock	-$783.3K
Accum. Other Comp. Income	-$149M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.3B
Minority Interest	$0
TOTAL EQUITY	$8.3B
TOTAL LIABILITIES & EQUITY	$18.5B
Total Debt	$663M
Net Debt	-$1.6B