NVO
Novo Nordisk
PE ratio, current and historical analysis
- Stocks
- Healthcare
- NYSE: NVO
- PE Ratio
As at Jun 22, 2026, the NVO stock has a P/E ratio of 10.9. This is based on the current EPS of 27.45 DKK and the stock price of $45.88 per share. A decrease of 21% has been recorded in the PE ratio compared to the average of 13.9 of the past four quarters.
NVO PE ratio history
The mean historical PE ratio of Novo Nordisk over the last ten years is 26.05. The current 10.9 price-to-earnings ratio is 58% less than the historical average. In the past ten years, NVO's PE ratio reached its highest point in the Jun 2024 quarter at 49.33, with a price of $142.74 and an EPS of 20.14 DKK. The Mar 2026 quarter saw the lowest point at 8.73, with a price of $36.75 and an EPS of 27.45 DKK.
Novo Nordisk PE ratio by year
Maximum annual increase: 50.15% in 2021
Maximum annual decrease: -48.44% in 2025
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 14.03 | -48.44% | $50.88 | 23.06 DKK |
| 2024 | 27.21 | -27.25% | $86.02 | 22.67 DKK |
| 2023 | 37.4 | -2.38% | $103.45 | 18.67 DKK |
| 2022 | 38.31 | 7.79% | $67.67 | 12.26 DKK |
| 2021 | 35.54 | 50.15% | $56 | 10.4 DKK |
| 2020 | 23.67 | 0.08% | $34.93 | 9 DKK |
| 2019 | 23.65 | 26% | $28.94 | 8.2 DKK |
| 2018 | 18.77 | -13.14% | $23.04 | 8 DKK |
| 2017 | 21.61 | 27.95% | $26.84 | 7.7 DKK |
| 2016 | 16.89 | -36.88% | $17.93 | 7.5 DKK |
| 2015 | 26.76 | 1.94% | $29.04 | 6.8 DKK |
| 2014 | 26.25 | 24.82% | $21.16 | 5 DKK |
| 2013 | 21.03 | -5.82% | $18.48 | 4.7 DKK |
| 2012 | 22.33 | 9.35% | $16.32 | 3.91 DKK |
| 2011 | 20.42 | -15.9% | $11.53 | 3.02 DKK |
Novo Nordisk PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 8.73 | -37.78% | $36.75 | 27.45 DKK |
| Dec 2025 | 14.03 | -7.21% | $50.88 | 23.06 DKK |
| Sep 2025 | 15.12 | -13.99% | $55.49 | 23.34 DKK |
| Jun 2025 | 17.58 | -13.61% | $69.02 | 24.97 DKK |
| Mar 2025 | 20.35 | -25.21% | $69.44 | 23.51 DKK |
| Dec 2024 | 27.21 | -28.38% | $86.02 | 22.67 DKK |
| Sep 2024 | 37.99 | -22.99% | $119.07 | 21.25 DKK |
| Jun 2024 | 49.33 | 11.03% | $142.74 | 20.14 DKK |
| Mar 2024 | 44.43 | 18.8% | $128.4 | 19.97 DKK |
| Dec 2023 | 37.4 | -2.17% | $103.45 | 18.67 DKK |
| Sep 2023 | 38.23 | 3.05% | $90.94 | 16.77 DKK |
| Jun 2023 | 37.1 | -7.5% | $80.92 | 14.94 DKK |
| Mar 2023 | 40.11 | 4.7% | $79.57 | 13.55 DKK |
| Dec 2022 | 38.31 | 16.06% | $67.67 | 12.26 DKK |
| Sep 2022 | 33.01 | -7.56% | $49.82 | 11.65 DKK |
NVO average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, NVO's PE ratio is lower than the 3, 5 and 10-year averages.
PE comparison
With a P/E of 10.9, NVO stands below the Healthcare sector, the industry and its peers average. Looking at its Healthcare sector average of 24.1, Novo Nordisk's P/E is 55% lower.
NVO PE vs peers
NVO's PE ratio is below its peer stocks LLY and MRK. Novo Nordisk is presently trading at a lower PE ratio (10.9) than its peer group average of 23.66.
| Stock name | PE ratio | Market cap |
|---|---|---|
| NVO Novo Nordisk | 11.26 | $211.73B |
| REGN Regeneron Pharmaceuticals Inc | 14.52 | $64.79B |
| BMY Bristol Myers Squibb Co | 15.55 | $113.4B |
| GILD Gilead Sciences Inc | 16.85 | $155.26B |
| NVS Novartis AG | 21.85 | $292.66B |
| AMGN Amgen Inc | 23.96 | $187.28B |
| AZN Astrazeneca plc | 26.98 | $280.4B |
| MRK Merck & Co Inc | 33.5 | $295.39B |
| LLY ELI LILLY & Co | 39.27 | $1.04T |
Frequently asked questions
What is Novo Nordisk's PE ratio?
The price to earnings ratio for NVO stock is 10.9 as of Jun 22, 2026.
What is the 3-year average PE ratio for Novo Nordisk (NVO)?
The average PE ratio for NVO stock over the past 3 years is 28.96.
What is the 5-year average PE ratio for Novo Nordisk (NVO)?
The average PE ratio for NVO stock over the past 5 years is 31.16.
What is the highest PE ratio for NVO?
The highest quarterly PE ratio in the last ten years has been 49.33 and it was in the Jun 2024 quarter.
How does the current PE ratio for NVO compare to its historical average?
NVO's current price to earnings ratio is 58% below its 10-year historical average.
How is NVO's PE ratio calculated (Novo Nordisk PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Jun 22, 2026), Novo Nordisk's stock price is $45.88. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is 27.45 DKK. Therefore, Novo Nordisk's price to earnings ratio for today is 10.9. PE RATIO(10.9) = STOCK PRICE($45.88) / TTM EPS(27.45 DKK)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.