NVO Q4 2016 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

Q4 2016 Earnings

Reported December 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$4.6B	$4.3B	—	7.4%	—
Op. Income	$1.8B	$1.9B	—	-9.8%	—
Gross Margin	83.4%	85.5%	—	-2.2pp	—
Net Margin	29.4%	35.6%	—	-6.2pp	—
EPS (Diluted)	$0.27	$0.30	—	-10.8%	—
Free Cash Flow	$1.3B	$2.0B	—	-33.3%	—

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$772M
GROSS PROFIT	$3.9B
R&D Expenses	$701M
Selling & Marketing	$1.2B
General & Administrative	$183M
SG&A Expenses	$1.4B
Other Expenses	-$15M
Operating Expenses	$2.1B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$352M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$175M
EBIT	$1.7B
EBITDA	$1.8B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$772M
GROSS PROFIT	$3.9B
R&D Expenses	$701M
Selling & Marketing	$1.2B
General & Administrative	$183M
SG&A Expenses	$1.4B
Other Expenses	-$15M
Operating Expenses	$2.1B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$352M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$175M
EBIT	$1.7B
EBITDA	$1.8B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$175M
Stock-Based Compensation	$58M
Deferred Income Tax	$352M
Other Non-Cash Items	-$277M
Change in Working Capital	-$30M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$434M
Acquisitions (Net)	$40M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$7M
Other Investing Activities	-$40M
NET CASH FROM INVESTING	-$429M
Net Debt Issuance	$0
Common Stock Repurchased	-$643M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$643M
FREE CASH FLOW	$1.3B
Net Change in Cash	$687M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.9B
Short-Term Investments	$315M
Net Receivables	$3.8B
Inventory	$2.3B
Other Current Assets	$83M
TOTAL CURRENT ASSETS	$9.4B
PP&E (Net)	$4.7B
Goodwill	$0
Intangible Assets	$426M
Long-Term Investments	$345M
Tax Assets	$421M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$15.3B
Account Payables	$943M
Short-Term Debt	$36M
Deferred Revenue	$6.1B
Other Current Liabilities	$5.0B
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$756M
TOTAL NON-CURRENT LIABILITIES	$759M
TOTAL LIABILITIES	$8.2B
Common Stock	$80M
Additional Paid-In Capital	$0
Retained Earnings	$7.2B
Treasury Stock	-$1M
Accum. Other Comp. Income	-$211M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.1B
Minority Interest	$0
TOTAL EQUITY	$7.1B
TOTAL LIABILITIES & EQUITY	$15.3B
Total Debt	$36M
Net Debt	-$2.9B