What is the current annual cost of goods sold of NVO?

As of today, NVO annual cost of goods sold is $8.89B

What is 1-year change in NVO annual cost of goods sold?

NVO annual cost of goods sold is up +30.68% year-over-year

What is 3-year change in NVO annual cost of goods sold?

NVO annual cost of goods sold is up +103.15% over the past 3 years

How far is NVO annual cost of goods sold from its all-time high?

NVO annual cost of goods sold is currently at its all-time high

How does NVO annual cost of goods sold rank versus sector peers?

NVO annual cost of goods sold is higher than 96.79% of companies in Healthcare sector

When is NVO next annual earnings release?

The next annual earnings release for NVO is on February 3, 2027

What is the current quarterly cost of goods sold of NVO?

As of today, NVO quarterly cost of goods sold is $2.18B

What is NVO quarterly cost of goods sold most recent change?

NVO quarterly cost of goods sold was down -17.99% on September 30, 2026

What is 1-year change in NVO quarterly cost of goods sold?

NVO quarterly cost of goods sold is down -22.17% year-over-year

How far is NVO quarterly cost of goods sold from its all-time high?

NVO quarterly cost of goods sold is currently -22.17% below its historical high of $2.80B set on September 30, 2025

How does NVO quarterly cost of goods sold rank versus sector peers?

NVO quarterly cost of goods sold is higher than 96.58% of companies in Healthcare sector

When is NVO next earnings release?

The next earnings release for NVO is on February 3, 2027

What is the current TTM cost of goods sold of NVO?

As of today, NVO TTM cost of goods sold is $9.33B

What is NVO TTM cost of goods sold most recent change?

NVO TTM cost of goods sold was down -6.24% on September 30, 2026

What is 1-year change in NVO TTM cost of goods sold?

NVO TTM cost of goods sold is up +10.63% year-over-year

How far is NVO TTM cost of goods sold from its all-time high?

NVO TTM cost of goods sold is currently -6.24% below its historical high of $9.95B set on June 30, 2026

How does NVO TTM cost of goods sold rank versus sector peers?

NVO TTM cost of goods sold is higher than 96.68% of companies in Healthcare sector

When is NVO next earnings release?

The next earnings release for NVO is on February 3, 2027

NVO Cost Of Goods Sold History & Chart Since 1980

Annual Cost Of Goods Sold

$8.89B$2.09B+30.68%

December 31, 2025

Summary

Current Value: As of today, NVO annual cost of goods sold is $8.89B, up +30.68% on December 31, 2025
Historical Performance: NVO annual cost of goods sold is up +103.15% over the past 3 years, up +151.55% over the past 5 years
All-Time High Comparison: NVO annual cost of goods sold is currently at its all-time high
3-Year Low Comparison: NVO annual cost of goods sold is +103.15% above its 3-year low of $4.38B reached on an earlier date
Sector Comparison: NVO annual cost of goods sold is higher than 96.79% of companies in Healthcare sector

Cost Of Goods Sold Chart

beforeafter

Performance

NVO Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Cost Of Goods Sold	Dec 31, 25	$8.89B	+30.7%	+103.2%	+151.6%	+308.5%
Quarterly Cost Of Goods Sold	Sep 30, 26	$2.18B	-22.2%	+53.9%	+127.2%	+254.3%
TTM Cost Of Goods Sold	Sep 30, 26	$9.33B	+10.6%	+91.3%	+152.2%	+297.6%
Price	Nov 6, 26	$40.31	-13.3%	-60.1%	-28.9%	+268.4%
Annual Total Expenses	Dec 31, 25	$31.25B	+13.8%	+82.2%	+140.9%	+279.2%
Annual Operating Expenses	Dec 31, 25	$18.50B	+22.5%	+83.0%	+143.3%	+244.4%
Annual Gross Profit	Dec 31, 25	$37.85B	+7.2%	+83.5%	+138.3%	+338.9%
Annual Revenue	Dec 31, 25	$46.74B	+11.0%	+87.0%	+140.8%	+332.8%

Cost Of Goods Sold Highs

NVO Annual Cost Of Goods Sold Highs Comparison
Period	High	Date	Current
3Y	$8.89B	Dec 31, 25	at high
5Y	$8.89B	Dec 31, 25	at high
All	$8.89B	Dec 31, 25	at high

Cost Of Goods Sold Lows

NVO Annual Cost Of Goods Sold Lows Comparison
Period	Low	Date	Current
3Y	$4.38B	N/A	+103.2%
5Y	$3.53B	N/A	+151.6%
All	$226.59M	Dec 1, 80	+3823.3%

Cost Of Goods Sold History

Year	Value	Change
2025	$8.89B	+30.7%
2024	$6.80B	+20.8%
2023	$5.63B	+28.7%
2022	$4.38B	+8.9%
2021	$4.02B	+13.7%
2020	$3.53B	+11.2%
2019	$3.18B	+6.2%
2018	$2.99B	+8.3%
2017	$2.76B	+5.1%
2016	$2.63B	+6.1%
2015	$2.48B	-7.8%
2014	$2.69B	+2.7%
2013	$2.62B	+8.1%
2012	$2.42B	-1.6%
2011	$2.46B	+13.2%
2010	$2.18B	+7.0%
2009	$2.03B	-0.9%
2008	$2.05B	+9.3%
2007	$1.88B	+13.0%
2006	$1.66B	+5.8%
2005	$1.57B	+17.5%
2004	$1.34B	+12.6%
2003	$1.19B	+32.5%

Year	Value	Change
2002	$895.15M	+18.3%
2001	$756.87M	+13.2%
2000	$668.76M	-32.7%
1999	$993.77M	+3.6%
1998	$959.61M	+1.2%
1997	$947.86M	-1.9%
1996	$966.07M	+1.5%
1995	$952.25M	+12.9%
1994	$843.62M	-38.2%
1993	$1.36B	+7.6%
1992	$1.27B	+20.3%
1991	$1.05B	+7.6%
1990	$979.43M	+29.7%
1989	$755.21M	+30.7%
1988	$577.70M	-10.5%
1987	$645.57M	+45.3%
1986	$444.25M	+36.9%
1985	$324.53M	+12.6%
1984	$288.31M	+4.8%
1983	$275.04M	+8.3%
1982	$253.90M	+3.3%
1981	$245.71M	+8.4%
1980	$226.59M	-

FAQ

What is the current annual cost of goods sold of NVO?: As of today, NVO annual cost of goods sold is $8.89B
What is 1-year change in NVO annual cost of goods sold?: NVO annual cost of goods sold is up +30.68% year-over-year
What is 3-year change in NVO annual cost of goods sold?: NVO annual cost of goods sold is up +103.15% over the past 3 years
How far is NVO annual cost of goods sold from its all-time high?: NVO annual cost of goods sold is currently at its all-time high
How does NVO annual cost of goods sold rank versus sector peers?: NVO annual cost of goods sold is higher than 96.79% of companies in Healthcare sector
When is NVO next annual earnings release?: The next annual earnings release for NVO is on February 3, 2027

Cost Of Goods Sold Formula

COGS = Beginning Inventory + Purchases − Ending Inventory

Quarterly Cost Of Goods Sold

$2.18B$478.62M-17.99%

September 30, 2026

Summary

Current Value: As of today, NVO quarterly cost of goods sold is $2.18B, down -17.99% on September 30, 2026
Historical Performance: NVO quarterly cost of goods sold is down -22.17% year-over-year, up +53.90% over the past 3 years
All-Time High Comparison: NVO quarterly cost of goods sold is currently -22.17% below its historical high of $2.80B set on September 30, 2025
3-Year Low Comparison: NVO quarterly cost of goods sold is +53.90% above its 3-year low of $1.42B reached on an earlier date
Sector Comparison: NVO quarterly cost of goods sold is higher than 96.58% of companies in Healthcare sector

Performance

NVO Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Cost Of Goods Sold	Sep 30, 26	$2.18B	-18.0%	-22.2%	+53.9%	+127.2%
Annual Cost Of Goods Sold	Dec 31, 25	$8.89B	–	+30.7%	+103.2%	+151.6%
TTM Cost Of Goods Sold	Sep 30, 26	$9.33B	-6.2%	+10.6%	+91.3%	+152.2%
Price	Nov 6, 26	$40.31	-12.3%	-13.3%	-60.1%	-28.9%
Quarterly Total Expenses	Sep 30, 26	$9.61B	+7.5%	+11.7%	+81.7%	+158.0%
Quarterly Operating Expenses	Sep 30, 26	$4.53B	+6.3%	-13.0%	+39.9%	+98.6%
Quarterly Gross Profit	Sep 30, 26	$10.01B	+4.8%	+12.0%	+39.9%	+113.6%
Quarterly Revenue	Sep 30, 26	$12.19B	-0.2%	+3.8%	+42.2%	+115.9%

Quarterly Cost Of Goods Sold Highs

NVO Quarterly Cost Of Goods Sold Highs Comparison
Period	High	Date	Current
1Y	$2.80B	N/A	-22.2%
3Y	$2.80B	Sep 30, 25	-22.2%
5Y	$2.80B	Sep 30, 25	-22.2%
All	$2.80B	Sep 30, 25	-22.2%

Quarterly Cost Of Goods Sold Lows

NVO Quarterly Cost Of Goods Sold Lows Comparison
Period	Low	Date	Current
1Y	$2.13B	Mar 31, 26	+2.5%
3Y	$1.42B	N/A	+53.9%
5Y	$868.21M	Jun 30, 22	+151.3%
All	$201.29M	Mar 31, 02	+983.9%

Quarterly Cost Of Goods Sold History

Month	Value	Change
Sep 2026	$2.18B	-18.0%
Jun 2026	$2.66B	+24.9%
Mar 2026	$2.13B	-9.8%
Dec 2025	$2.36B	-15.8%
Sep 2025	$2.80B	+43.7%
Jun 2025	$1.95B	+7.3%
Mar 2025	$1.82B	-2.4%
Dec 2024	$1.86B	+11.9%
Sep 2024	$1.67B	+12.3%
Jun 2024	$1.48B	+2.7%
Mar 2024	$1.44B	-0.0%
Dec 2023	$1.44B	+1.9%
Sep 2023	$1.42B	+23.5%
Jun 2023	$1.15B	-2.7%
Mar 2023	$1.18B	+4.1%
Dec 2022	$1.13B	+16.3%
Sep 2022	$974.33M	+12.2%
Jun 2022	$868.21M	-16.7%
Mar 2022	$1.04B	+8.7%
Dec 2021	$959.12M	-0.1%
Sep 2021	$960.36M	+6.8%
Jun 2021	$899.30M	-4.4%
Mar 2021	$941.12M	+4.6%
Dec 2020	$900.01M	+11.2%
Sep 2020	$809.32M	+14.9%
Jun 2020	$704.65M	-11.3%
Mar 2020	$794.16M	-1.3%
Dec 2019	$804.96M	+6.5%
Sep 2019	$756.07M	+3.6%
Jun 2019	$729.72M	+1.4%
Mar 2019	$719.89M	+1.2%
Dec 2018	$711.53M	+3.3%
Sep 2018	$688.80M	-1.0%
Jun 2018	$695.78M	+0.4%
Mar 2018	$692.67M	-6.8%
Dec 2017	$743.47M	+10.2%
Sep 2017	$674.66M	+3.3%
Jun 2017	$652.83M	+7.1%
Mar 2017	$609.37M	-14.5%
Dec 2016	$712.45M	+19.2%
Sep 2016	$597.75M	-2.6%
Jun 2016	$613.96M	-1.9%
Mar 2016	$625.70M	-7.4%
Dec 2015	$676.02M	+18.0%
Sep 2015	$573.04M	+0.2%
Jun 2015	$572.05M	-2.1%
Mar 2015	$584.59M	-12.9%
Dec 2014	$671.23M	+10.2%
Sep 2014	$609.10M	-9.7%
Jun 2014	$674.53M	+6.0%

Month	Value	Change
Mar 2014	$636.38M	+2.6%
Dec 2013	$620.47M	-0.9%
Sep 2013	$625.88M	-0.9%
Jun 2013	$631.52M	-1.1%
Mar 2013	$638.83M	+16.5%
Dec 2012	$548.21M	-6.3%
Sep 2012	$585.17M	-0.9%
Jun 2012	$590.34M	-1.6%
Mar 2012	$599.98M	+6.1%
Dec 2011	$565.34M	-8.2%
Sep 2011	$615.88M	+3.0%
Jun 2011	$597.99M	+4.5%
Mar 2011	$572.13M	+1.9%
Dec 2010	$561.44M	+10.2%
Sep 2010	$509.31M	+0.6%
Jun 2010	$506.46M	+1.4%
Mar 2010	$499.47M	-4.5%
Dec 2009	$522.94M	+1.4%
Sep 2009	$515.71M	+8.1%
Jun 2009	$477.26M	+8.9%
Mar 2009	$438.27M	-2.2%
Dec 2008	$448.20M	-14.5%
Sep 2008	$524.46M	-1.9%
Jun 2008	$534.81M	+10.3%
Mar 2008	$484.79M	-4.0%
Dec 2007	$505.06M	+8.8%
Sep 2007	$464.06M	+8.7%
Jun 2007	$426.85M	+4.6%
Mar 2007	$407.93M	-8.6%
Dec 2006	$446.17M	+11.8%
Sep 2006	$399.17M	+5.1%
Jun 2006	$379.87M	-2.4%
Mar 2006	$389.27M	-3.2%
Dec 2005	$402.16M	+4.3%
Sep 2005	$385.52M	+3.3%
Jun 2005	$373.34M	+1.7%
Mar 2005	$367.18M	-4.3%
Dec 2004	$383.82M	+11.9%
Sep 2004	$342.91M	+8.2%
Jun 2004	$317.02M	+2.9%
Mar 2004	$308.12M	-28.7%
Dec 2003	$432.19M	+30.3%
Sep 2003	$331.69M	-0.2%
Jun 2003	$332.45M	+15.4%
Mar 2003	$288.15M	-6.5%
Dec 2002	$308.06M	+16.8%
Sep 2002	$263.84M	+8.0%
Jun 2002	$244.29M	+21.4%
Mar 2002	$201.29M	-

FAQ

What is the current quarterly cost of goods sold of NVO?: As of today, NVO quarterly cost of goods sold is $2.18B
What is NVO quarterly cost of goods sold most recent change?: NVO quarterly cost of goods sold was down -17.99% on September 30, 2026
What is 1-year change in NVO quarterly cost of goods sold?: NVO quarterly cost of goods sold is down -22.17% year-over-year
How far is NVO quarterly cost of goods sold from its all-time high?: NVO quarterly cost of goods sold is currently -22.17% below its historical high of $2.80B set on September 30, 2025
How does NVO quarterly cost of goods sold rank versus sector peers?: NVO quarterly cost of goods sold is higher than 96.58% of companies in Healthcare sector
When is NVO next earnings release?: The next earnings release for NVO is on February 3, 2027

Cost Of Goods Sold Formula

COGS = Beginning Inventory + Purchases − Ending Inventory

TTM Cost Of Goods Sold

$9.33B$621.57M-6.24%

September 30, 2026

Summary

Current Value: As of today, NVO TTM cost of goods sold is $9.33B, down -6.24% on September 30, 2026
Historical Performance: NVO TTM cost of goods sold is up +10.63% year-over-year, up +91.33% over the past 3 years
All-Time High Comparison: NVO TTM cost of goods sold is currently -6.24% below its historical high of $9.95B set on June 30, 2026
3-Year Low Comparison: NVO TTM cost of goods sold is +91.33% above its 3-year low of $4.88B reached on an earlier date
Sector Comparison: NVO TTM cost of goods sold is higher than 96.68% of companies in Healthcare sector

Performance

NVO Performance
Metric	Date	Value	3M	1Y	3Y	5Y
TTM Cost Of Goods Sold	Sep 30, 26	$9.33B	-6.2%	+10.6%	+91.3%	+152.2%
Annual Cost Of Goods Sold	Dec 31, 25	$8.89B	–	+30.7%	+103.2%	+151.6%
Quarterly Cost Of Goods Sold	Sep 30, 26	$2.18B	-18.0%	-22.2%	+53.9%	+127.2%
Price	Nov 6, 26	$40.31	-12.3%	-13.3%	-60.1%	-28.9%
TTM Gross Profit	Sep 30, 26	$42.56B	+2.6%	+11.3%	+64.3%	+137.5%
TTM Revenue	Sep 30, 26	$51.90B	+0.9%	+11.2%	+68.5%	+140.0%

TTM Cost Of Goods Sold Highs

NVO TTM Cost Of Goods Sold Highs Comparison
Period	High	Date	Current
1Y	$9.95B	Jun 30, 26	-6.2%
3Y	$9.95B	Jun 30, 26	-6.2%
5Y	$9.95B	Jun 30, 26	-6.2%
All	$9.95B	Jun 30, 26	-6.2%

TTM Cost Of Goods Sold Lows

NVO TTM Cost Of Goods Sold Lows Comparison
Period	Low	Date	Current
1Y	$8.44B	N/A	+10.6%
3Y	$4.88B	N/A	+91.3%
5Y	$3.70B	N/A	+152.2%
All	$201.29M	Mar 31, 02	+4536.3%

TTM Cost Of Goods Sold History

Month	Value	Change
Sep 2026	$9.33B	-6.2%
Jun 2026	$9.95B	+7.7%
Mar 2026	$9.24B	+3.5%
Dec 2025	$8.93B	+5.9%
Sep 2025	$8.44B	+15.6%
Jun 2025	$7.30B	+6.9%
Mar 2025	$6.83B	+5.8%
Dec 2024	$6.45B	+6.9%
Sep 2024	$6.04B	+4.3%
Jun 2024	$5.79B	+6.1%
Mar 2024	$5.45B	+5.1%
Dec 2023	$5.19B	+6.4%
Sep 2023	$4.88B	+10.0%
Jun 2023	$4.43B	+6.7%
Mar 2023	$4.15B	+3.4%
Dec 2022	$4.02B	+4.5%
Sep 2022	$3.84B	+0.4%
Jun 2022	$3.83B	-0.8%
Mar 2022	$3.86B	+2.7%
Dec 2021	$3.76B	+1.6%
Sep 2021	$3.70B	+4.3%
Jun 2021	$3.55B	+5.8%
Mar 2021	$3.36B	+4.6%
Dec 2020	$3.21B	+3.1%
Sep 2020	$3.11B	+1.7%
Jun 2020	$3.06B	-0.8%
Mar 2020	$3.08B	+2.5%
Dec 2019	$3.01B	+3.2%
Sep 2019	$2.92B	+2.4%
Jun 2019	$2.85B	+1.2%
Mar 2019	$2.82B	+1.0%
Dec 2018	$2.79B	-1.1%
Sep 2018	$2.82B	+0.5%
Jun 2018	$2.81B	+1.6%
Mar 2018	$2.76B	+3.1%
Dec 2017	$2.68B	+1.2%
Sep 2017	$2.65B	+3.0%
Jun 2017	$2.57B	+1.5%
Mar 2017	$2.53B	-0.6%
Dec 2016	$2.55B	+1.4%
Sep 2016	$2.51B	+1.0%
Jun 2016	$2.49B	+1.7%
Mar 2016	$2.45B	+1.7%
Dec 2015	$2.41B	+0.2%
Sep 2015	$2.40B	-1.5%
Jun 2015	$2.44B	-4.0%
Mar 2015	$2.54B	-2.0%
Dec 2014	$2.59B	+2.0%
Sep 2014	$2.54B	-0.7%
Jun 2014	$2.56B	+1.7%

Month	Value	Change
Mar 2014	$2.51B	-0.1%
Dec 2013	$2.52B	+3.0%
Sep 2013	$2.44B	+1.7%
Jun 2013	$2.40B	+1.7%
Mar 2013	$2.36B	+1.7%
Dec 2012	$2.32B	-0.7%
Sep 2012	$2.34B	-1.3%
Jun 2012	$2.37B	-0.3%
Mar 2012	$2.38B	+1.2%
Dec 2011	$2.35B	+0.2%
Sep 2011	$2.35B	+4.8%
Jun 2011	$2.24B	+4.3%
Mar 2011	$2.15B	+3.5%
Dec 2010	$2.08B	+1.9%
Sep 2010	$2.04B	-0.3%
Jun 2010	$2.04B	+1.4%
Mar 2010	$2.02B	+3.1%
Dec 2009	$1.95B	+4.0%
Sep 2009	$1.88B	-0.5%
Jun 2009	$1.89B	-3.0%
Mar 2009	$1.95B	-2.3%
Dec 2008	$1.99B	-2.8%
Sep 2008	$2.05B	+3.0%
Jun 2008	$1.99B	+5.7%
Mar 2008	$1.88B	+4.3%
Dec 2007	$1.80B	+3.4%
Sep 2007	$1.75B	+3.9%
Jun 2007	$1.68B	+2.9%
Mar 2007	$1.63B	+1.2%
Dec 2006	$1.61B	+2.8%
Sep 2006	$1.57B	+0.9%
Jun 2006	$1.56B	+0.4%
Mar 2006	$1.55B	+1.4%
Dec 2005	$1.53B	+1.2%
Sep 2005	$1.51B	+2.9%
Jun 2005	$1.47B	+4.0%
Mar 2005	$1.41B	+4.4%
Dec 2004	$1.35B	-3.5%
Sep 2004	$1.40B	+0.8%
Jun 2004	$1.39B	-1.1%
Mar 2004	$1.40B	+1.4%
Dec 2003	$1.38B	+9.8%
Sep 2003	$1.26B	+5.7%
Jun 2003	$1.19B	+8.0%
Mar 2003	$1.10B	+8.5%
Dec 2002	$1.02B	+43.4%
Sep 2002	$709.42M	+59.2%
Jun 2002	$445.58M	+121.4%
Mar 2002	$201.29M	-

FAQ

What is the current TTM cost of goods sold of NVO?: As of today, NVO TTM cost of goods sold is $9.33B
What is NVO TTM cost of goods sold most recent change?: NVO TTM cost of goods sold was down -6.24% on September 30, 2026
What is 1-year change in NVO TTM cost of goods sold?: NVO TTM cost of goods sold is up +10.63% year-over-year
How far is NVO TTM cost of goods sold from its all-time high?: NVO TTM cost of goods sold is currently -6.24% below its historical high of $9.95B set on June 30, 2026
How does NVO TTM cost of goods sold rank versus sector peers?: NVO TTM cost of goods sold is higher than 96.68% of companies in Healthcare sector
When is NVO next earnings release?: The next earnings release for NVO is on February 3, 2027

Cost Of Goods Sold Formula

COGS = Beginning Inventory + Purchases − Ending Inventory

Data Sources & References

NVO Official Website www.novonordisk.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/353278/000035327826000012/0000353278-26-000012-index.htm
NVO Profile on Yahoo Finance finance.yahoo.com/quote/NVO
NVO Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/nvo