What is the current annual operating margin of NVO?

As of today, NVO annual operating margin is 41.40%

What is 1-year change in NVO annual operating margin?

NVO annual operating margin is down -13.75% year-over-year

What is 3-year change in NVO annual operating margin?

NVO annual operating margin is down -1.57% over the past 3 years

How far is NVO annual operating margin from its all-time high?

NVO annual operating margin is currently -13.75% below its historical high of 48.00% set on December 31, 2024

How does NVO annual operating margin rank versus sector peers?

NVO annual operating margin is higher than 98.00% of companies in Healthcare sector

When is NVO next annual earnings release?

As of today, the next annual earnings release for NVO has not been scheduled

What is the current quarterly operating margin of NVO?

As of today, NVO quarterly operating margin is 43.31%

What is NVO quarterly operating margin most recent change?

NVO quarterly operating margin was down -29.82% on June 30, 2026

What is 1-year change in NVO quarterly operating margin?

NVO quarterly operating margin is down -3.69% year-over-year

How far is NVO quarterly operating margin from its all-time high?

NVO quarterly operating margin is currently -29.82% below its historical high of 61.71% set on March 31, 2026

How does NVO quarterly operating margin rank versus sector peers?

NVO quarterly operating margin is higher than 97.44% of companies in Healthcare sector

When is NVO next earnings release?

The next earnings release for NVO is on November 4, 2026

NVO Operating Margin History & Chart Since 1980

Annual Operating Margin

41.40%6.60%-13.75%

December 31, 2025

Summary

Current Value: As of today, NVO annual operating margin is 41.40%, down -13.75% on December 31, 2025
Historical Performance: NVO annual operating margin is down -1.57% over the past 3 years, down -2.89% over the past 5 years
All-Time High Comparison: NVO annual operating margin is currently -13.75% below its historical high of 48.00% set on December 31, 2024
3-Year Low Comparison: NVO annual operating margin is at its 3-year low
Sector Comparison: NVO annual operating margin is higher than 98.00% of companies in Healthcare sector

Operating Margin Chart

beforeafter

Performance

NVO Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	41.40%	-13.8%	-1.6%	-2.9%	+37.5%
Quarterly Operating Margin	Jun 30, 26	43.31%	-3.7%	-1.6%	-2.3%	+34.1%
Price	Aug 20, 26	$46.26	-14.8%	-49.5%	-13.2%	+335.4%
PE Ratio	Aug 20, 26	11.31	-24.3%	-74.0%	-67.4%	-47.0%
Annual Revenue	Dec 31, 25	$46.74B	+11.0%	+87.0%	+140.8%	+332.8%
Annual Operating Profit	Dec 31, 25	$19.35B	-4.3%	+84.0%	+133.8%	+495.0%
Annual Gross Margin	Dec 31, 25	80.98%	-3.4%	-1.8%	-1.0%	+1.4%
Annual Net Margin	Dec 31, 25	33.14%	-4.7%	+5.6%	-0.1%	+39.8%

Operating Margin Highs

NVO Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	48.00%	Dec 31, 24	-13.8%
5Y	48.00%	Dec 31, 24	-13.8%
All	48.00%	Dec 31, 24	-13.8%

Operating Margin Lows

NVO Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	41.40%	Dec 31, 25	at low
5Y	41.40%	Dec 31, 25	at low
All	0.00%	Dec 31, 03	N/A

Operating Margin History

Year	Value	Change
2025	41.40%	-13.8%
2024	48.00%	+7.8%
2023	44.51%	+5.8%
2022	42.06%	+0.4%
2021	41.91%	-1.7%
2020	42.63%	-2.0%
2019	43.48%	+5.3%
2018	41.31%	-4.4%
2017	43.19%	+0.1%
2016	43.14%	+0.6%
2015	42.87%	+11.2%
2014	38.55%	+4.5%
2013	36.90%	-0.2%
2012	36.96%	+11.2%
2011	33.24%	+10.4%
2010	30.11%	+3.6%
2009	29.05%	+4.8%
2008	27.71%	+15.8%
2007	23.93%	+2.7%
2006	23.30%	>+9,900.0%
2005	0.00%	0.0%
2004	0.00%	0.0%
2003	0.00%	-100.0%

Year	Value	Change
2002	20.02%	+0.3%
2001	19.97%	-2.1%
2000	20.40%	+18.3%
1999	17.25%	+52.9%
1998	11.28%	-17.9%
1997	13.74%	+3.4%
1996	13.29%	-2.7%
1995	13.66%	+6.0%
1994	12.89%	-4.4%
1993	13.48%	+0.4%
1992	13.43%	+6.3%
1991	12.64%	+32.8%
1990	9.52%	-15.3%
1989	11.24%	-14.6%
1988	13.16%	+29.9%
1987	10.13%	-30.9%
1986	14.66%	-11.6%
1985	16.59%	-20.1%
1984	20.77%	-17.2%
1983	25.08%	+0.7%
1982	24.91%	+15.5%
1981	21.57%	+12.6%
1980	19.16%	-

FAQ

What is the current annual operating margin of NVO?: As of today, NVO annual operating margin is 41.40%
What is 1-year change in NVO annual operating margin?: NVO annual operating margin is down -13.75% year-over-year
What is 3-year change in NVO annual operating margin?: NVO annual operating margin is down -1.57% over the past 3 years
How far is NVO annual operating margin from its all-time high?: NVO annual operating margin is currently -13.75% below its historical high of 48.00% set on December 31, 2024
How does NVO annual operating margin rank versus sector peers?: NVO annual operating margin is higher than 98.00% of companies in Healthcare sector
When is NVO next annual earnings release?: As of today, the next annual earnings release for NVO has not been scheduled

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

43.31%18.40%-29.82%

June 30, 2026

Summary

Current Value: As of today, NVO quarterly operating margin is 43.31%, down -29.82% on June 30, 2026
Historical Performance: NVO quarterly operating margin is down -3.69% year-over-year, down -1.61% over the past 3 years
All-Time High Comparison: NVO quarterly operating margin is currently -29.82% below its historical high of 61.71% set on March 31, 2026
3-Year Low Comparison: NVO quarterly operating margin is +36.45% above its 3-year low of 31.74% reached on September 30, 2025
Sector Comparison: NVO quarterly operating margin is higher than 97.44% of companies in Healthcare sector

Performance

NVO Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Jun 30, 26	43.31%	-29.8%	-3.7%	-1.6%	-2.3%
Annual Operating Margin	Dec 31, 25	41.40%	–	-13.8%	-1.6%	-2.9%
Price	Aug 20, 26	$46.26	+2.6%	-14.8%	-49.5%	-13.2%
PE Ratio	Aug 20, 26	11.31	+6.9%	-24.3%	-74.0%	-67.4%
Quarterly Revenue	Jun 30, 26	$12.21B	-19.5%	+4.6%	+53.9%	+128.0%
Quarterly Operating Profit	Jun 30, 26	$5.29B	-43.5%	+0.7%	+51.5%	+122.8%
Quarterly Gross Margin	Jun 30, 26	78.21%	-9.0%	-6.1%	-8.6%	-6.0%
Quarterly Net Margin	Jun 30, 26	26.74%	-46.7%	-22.4%	-25.3%	-27.1%

Quarterly Operating Margin Highs

NVO Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	61.71%	Mar 31, 26	-29.8%
3Y	61.71%	Mar 31, 26	-29.8%
5Y	61.71%	Mar 31, 26	-29.8%
All	61.71%	Mar 31, 26	-29.8%

Quarterly Operating Margin Lows

NVO Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	31.74%	Sep 30, 25	+36.5%
3Y	31.74%	Sep 30, 25	+36.5%
5Y	31.74%	Sep 30, 25	+36.5%
All	-1,888.59%	Dec 31, 98	+102.3%

Quarterly Operating Margin History

Month	Value	Change
Jun 2026	43.31%	-29.8%
Mar 2026	61.71%	+53.1%
Dec 2025	40.32%	+27.0%
Sep 2025	31.74%	-29.4%
Jun 2025	44.97%	-9.6%
Mar 2025	49.75%	+10.5%
Dec 2024	45.02%	-5.4%
Sep 2024	47.57%	+26.8%
Jun 2024	37.51%	-24.4%
Mar 2024	49.60%	+22.1%
Dec 2023	40.63%	-11.0%
Sep 2023	45.66%	+3.7%
Jun 2023	44.02%	-5.9%
Mar 2023	46.80%	+35.1%
Dec 2022	34.63%	-21.6%
Sep 2022	44.16%	-0.1%
Jun 2022	44.21%	-0.9%
Mar 2022	44.62%	+25.4%
Dec 2021	35.58%	-16.4%
Sep 2021	42.58%	-3.9%
Jun 2021	44.32%	+0.8%
Mar 2021	43.96%	+27.6%
Dec 2020	34.45%	-16.0%
Sep 2020	41.00%	-10.3%
Jun 2020	45.72%	-4.4%
Mar 2020	47.81%	+31.0%
Dec 2019	36.49%	-13.9%
Sep 2019	42.38%	-3.6%
Jun 2019	43.94%	-8.2%
Mar 2019	47.88%	+35.1%
Dec 2018	35.44%	-15.5%
Sep 2018	41.94%	-2.7%
Jun 2018	43.12%	-4.0%
Mar 2018	44.92%	+27.1%
Dec 2017	35.35%	-19.1%
Sep 2017	43.67%	-5.2%
Jun 2017	46.08%	-0.8%
Mar 2017	46.44%	+23.6%
Dec 2016	37.57%	-15.3%
Sep 2016	44.37%	-1.3%
Jun 2016	44.95%	+1.7%
Mar 2016	44.19%	+15.7%
Dec 2015	38.20%	-12.9%
Sep 2015	43.87%	-1.9%
Jun 2015	44.73%	+1.8%
Mar 2015	43.95%	+20.4%
Dec 2014	36.51%	-3.3%
Sep 2014	37.75%	-4.3%
Jun 2014	39.43%	+2.6%
Mar 2014	38.43%	+16.2%
Dec 2013	33.07%	-13.5%
Sep 2013	38.22%	-2.8%
Jun 2013	39.34%	+6.4%
Mar 2013	36.96%	+4.5%
Dec 2012	35.38%	-8.6%
Sep 2012	38.69%	+0.4%
Jun 2012	38.52%	+10.0%
Mar 2012	35.01%	+6.9%
Dec 2011	32.76%	-1.7%
Sep 2011	33.31%	+3.1%

Month	Value	Change
Jun 2011	32.30%	-3.8%
Mar 2011	33.58%	+29.6%
Dec 2010	25.92%	-19.4%
Sep 2010	32.17%	+1.5%
Jun 2010	31.71%	+4.3%
Mar 2010	30.41%	+29.1%
Dec 2009	23.56%	-22.0%
Sep 2009	30.20%	-2.1%
Jun 2009	30.86%	+3.6%
Mar 2009	29.79%	+13.6%
Dec 2008	26.23%	-8.5%
Sep 2008	28.66%	+8.8%
Jun 2008	26.35%	+2.1%
Mar 2008	25.82%	+19.8%
Dec 2007	21.56%	-14.5%
Sep 2007	25.23%	-3.0%
Jun 2007	26.01%	+16.6%
Mar 2007	22.30%	+15.8%
Dec 2006	19.26%	-25.7%
Sep 2006	25.91%	-4.1%
Jun 2006	27.02%	+29.7%
Mar 2006	20.84%	+5.1%
Dec 2005	19.83%	-17.3%
Sep 2005	23.97%	-9.0%
Jun 2005	26.34%	+58.4%
Mar 2005	16.63%	>+9,900.0%
Dec 2004	0.00%	0.0%
Sep 2004	0.00%	0.0%
Jun 2004	0.00%	0.0%
Mar 2004	0.00%	-100.0%
Dec 2003	17.80%	-16.0%
Sep 2003	21.18%	-0.8%
Jun 2003	21.35%	+11.7%
Mar 2003	19.11%	-3.0%
Dec 2002	19.71%	-9.3%
Sep 2002	21.74%	-1.0%
Jun 2002	21.96%	+46.2%
Mar 2002	15.02%	-25.6%
Dec 2001	20.20%	-13.3%
Sep 2001	23.30%	+1.2%
Jun 2001	23.03%	-9.3%
Mar 2001	25.38%	+25.8%
Mar 2000	20.17%	-1.1%
Jun 1999	20.40%	+9.7%
Mar 1999	18.59%	+101.0%
Dec 1998	-1,888.59%	-788.6%
Dec 1997	-212.53%	-2.4%
Dec 1996	-207.61%	+16.0%
Dec 1995	-247.14%	-8.3%
Dec 1994	-228.29%	-39.1%
Dec 1993	-164.10%	+34.5%
Dec 1992	-250.47%	-34.6%
Dec 1991	-186.15%	+12.6%
Dec 1990	-212.97%	-3.2%
Dec 1989	-206.28%	-10.4%
Dec 1988	-186.92%	+13.7%
Dec 1987	-216.60%	+8.6%
Dec 1986	-236.92%	-3.5%
Dec 1985	-228.91%	-4.4%
Dec 1984	-219.30%	-

FAQ

What is the current quarterly operating margin of NVO?: As of today, NVO quarterly operating margin is 43.31%
What is NVO quarterly operating margin most recent change?: NVO quarterly operating margin was down -29.82% on June 30, 2026
What is 1-year change in NVO quarterly operating margin?: NVO quarterly operating margin is down -3.69% year-over-year
How far is NVO quarterly operating margin from its all-time high?: NVO quarterly operating margin is currently -29.82% below its historical high of 61.71% set on March 31, 2026
How does NVO quarterly operating margin rank versus sector peers?: NVO quarterly operating margin is higher than 97.44% of companies in Healthcare sector
When is NVO next earnings release?: The next earnings release for NVO is on November 4, 2026

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

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