NVO

Novo Nordisk A/S

Healthcare · $169.9B market cap

Verdict

Share price

$37.32

close of Oct 3, 2026

Fair value

$64.11

Sticker Price

Payback Price

$25.65

buy price

Undervalued

NVO is Undervalued: at $37.32 it trades 42% below its fair value of $64.11. Its buy price (Payback Price) is $25.65, 31% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth13.6% a year✓
Equity per share growth8.8% a year✗
Sales growth10.8% a year✓
Free cash flow growth12.2% a year✓
Return on invested capital40.9%✓

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Superinvestors

4 of the investors we track hold NVO. In Q2 2026, 1 added, 1 trimmed and 1 sold out. Who we track

Moves in Q2 2026

Added: Sarah Ketterer

Trimmed: Lee Ainslie

Sold out: Francois Rochon

About Novo Nordisk A/S

Novo Nordisk A/S is a global pharmaceutical firm dedicated to the investigation, creation, manufacturing, and distribution of medicinal products across a vast international footprint. Its market presence extends throughout Europe, the Middle East, Africa, various parts of Asia (including Mainland China, Hong Kong, and Taiwan), and North America. The company's operations are structured into two principal business…

Drug Manufacturers - General

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works