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NOVO NORDISK A/S (NVO)

Sottovalutato
HealthcareDrug Manufacturers - GeneralDenmark

Fondamentale

64

Prezzo

$253.20

Capitalizzazione

$1.12T

Parte 1 · Quanto vale l'azienda

Panoramica

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas. The Rare Disease segment offers products in the areas of rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company also provides NovoPen 6 and NovoPen Echo Plus, smart insulin pens; Dose Check, an insulin dose guidance application; growth hormone pens and injection needles; and Wegovy pill an oral glucagon-like peptide-1 (GLP-1) receptor agonist therapy for weight management. The company has a collaboration with Anthropic accelerate the development of new medicines and advance AI-driven software development. It operates in Europe, Canada, the United States, Japan, Korea, Oceania, Southeast Asia, Mainland China, Hong Kong and Taiwan, Latin America, the Middle East, and Africa. It has a strategic collaboration with Orbis Medicines to discover and develop oral macrocycle therapeutics for cardiometabolic diseases. The company was formerly known as Novo Industri A/S and changed its name to Novo Nordisk A/S in April 1989. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark.

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Generato il 19 settembre 2026 con claude-haiku-4-5 — condiviso con tutti gli utenti

P/E: 38.8Punteggio: 78Capitalizzazione: $1.11T

Con tirzepatide (Mounjaro, Zepbound) Lilly si contende gli stessi pazienti diabetici e obesi della semaglutide di Novo Nordisk (Ozempic, Wegovy), e le due si sfidano anche sull'insulina e sull'ormone della crescita.

P/E: 26.2Punteggio: 78Capitalizzazione: $219.52B

Amgen sta portando avanti MariTide, farmaco mensile per l'obesità, con l'obiettivo di prendersi una fetta dello stesso mercato del controllo del peso da cui arriva gran parte della crescita di Novo Nordisk.

P/E: 37.5Punteggio: 74Capitalizzazione: $163.69B

Pfizer si scontra con Novo Nordisk sull'ormone della crescita (Genotropin, Ngenla) e sull'emofilia (Hympavzi), e con un'acquisizione è entrata anche nell'obesità, il terreno da cui Novo Nordisk ricava la maggior parte del fatturato.

Sanofi S.A.SAN

Sanofi è il terzo dei tre produttori che insieme coprono oltre il 90% del valore dell'insulina venduta nel mondo: glargine e gli altri suoi insulinici si rivolgono agli stessi pazienti diabetici e agli stessi rimborsatori di Novo Nordisk.

Boehringer Ingelheim International GmbHNon tracciato

Il gruppo tedesco, non quotato, vende Jardiance per il diabete e sviluppa survodutide per l'obesità: punta agli stessi medici e agli stessi pazienti metabolici su cui vive Novo Nordisk.

Roche Holding AGROG

Roche si è costruita una pipeline sull'obesità, con incretine orali e iniettabili destinate agli stessi pazienti che oggi vengono trattati con Wegovy.

Stato Patrimoniale e Liquidità

Ricavi

$329.43B

Ultimi 12 mesi (al 30/06/2026)

Utile Netto

$116.44B

Ultimi 12 mesi (al 30/06/2026)

Free Cash Flow

$37.67B

Patrimonio Netto Totale

$167.06B

Passività Totali

$140.13B

Rapporto di Liquidità

0.87

Copertura Interessi

-

Debito/EBITDA

0.81

Utile per Azione

Ricavi e Utile Netto

Free Cash Flow

Scomposizione Ricavi

Prospetto storico

Margini nel tempo

Il debito nel tempo

Quanto pesa il debito

Griglia della crescita

Crescita — Ricavi

Stima del Fair Value

Caso generaleSottovalutato

Fair Value

$408.75

Prezzo Attuale

$253.20

Margine di Sicurezza

+38.1%

Range Fair Value

$265.69 - $551.82

Intervallo di dispersione tra i metodi di valutazione usati, non una stima statisticamente calibrata.

Metodi di Stima

Target degli analisti:$307.56
Flussi di cassa scontati (DCF):$217.89
Multiplo sugli utili (P/E):$302.04
Formula di Graham:$1151.28
Valore della capacità di reddito (EPV):$168.95
P/B giustificato:$219.38
Sconto dei dividendi (Gordon):$110.45
P/FFO, i fondi da operazioni:Dati insufficienti per calcolarlo
Utili di mezzo ciclo:Dati insufficienti per calcolarlo
Multiplo sui ricavi:$292.60
Consenso Analisti:Hold (11B / 22H / 3S)
Ultima Sorpresa Utili:-5.65%

Metriche di Valutazione

Rapporto P/E

9.64

ROE

59.8%

Rapporto P/B

5.06

P/FCF

22.45

Margine Lordo

82.0%

ROIC

36.0%

Radar Redditività

Creazione di Valore (Vantaggio Competitivo)

ROIC

36.0%

WACC

13.3%

ROIC − WACC

+22.7 pp

Il ROIC supera il costo del capitale: l'azienda sta creando valore per gli azionisti.

Criteri di Analisi Fondamentale

Superati (13)

  • Price CAGR 7.39%
  • ROIC 36.0%
  • Gross Margin 82.0%
  • P/FCF 22.45
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • ROE 59.1%
  • Revenue Growth 5Y 19.5%
  • Earnings Surprise avg 2.9%
  • PEG Ratio 0.46
  • Earnings Quality (OCF/NI) 1.29

Non superati (6)

  • P/B Ratio 5.06
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Analyst Consensus 31% Buy
  • Net Margin Trend 33.1% vs 34.8%
  • Piotroski F-Score 2/9

Non disponibili (8)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

Preoccupazioni finanziarie serie

score
criteria

Qualità degli Utili

1.29

Alta qualità: utili supportati da cash

Diluizione Azionaria

-

Riacquisto azioni. Favorevole agli azionisti

Partecipazioni istituzionali

Governance

Team Dirigenziale

NomeRuoloEtà
Mr. Karsten Munk KnudsenExecutive VP, CFO & Member of the Management Board54
Mr. Maziar Mike Doustdar B.A.President, CEO & Member of the Management Board55
Dr. Martin Holst LangeEVP of R&D, Chief Scientific Officer and Member of the Management Board55
Ms. Tania SabroeEVP of People, Organisation and Corporate Affairs & Member of Management Board48
Ms. Thilde Hummel BogebjergExecutive VP of Enterprise IT & Quality and Member of Management Board43
Mr. John F. KuckelmanSVP, Group General Counsel, Global Legal, IP & Security and Member of Management Board53
Mr. Emil Kongshoej LarsenEVP of International Operations & Member of Management Board50
Ms. Elin JagerSVP, Chief of Staff to CEO, Corporate Strategy & Sustainability and Member of Management Board39
Mr. Jamey MillarExecutive VP of US Operations & Member of Management Board57
Ms. Hong ChowExecutive VP of Product & Portfolio Strategy and Member of Management Board54

Rischio Audit

2

Rischio CdA

5

Rischio Compensi

1

Rischio Diritti Azionisti

9

Parte 2 · Il prezzo e il momento d'ingresso

Questa parte non serve a capire se l'azienda vale: serve a scegliere quando comprarla, dopo che i fondamentali ti hanno convinto. Dentro: analisi tecnica, potenziale, drawdown storici, esposizione gamma.

Ultime Notizie

Ultime notizie per NVO, da Markets Gazette.

  • 2d agoPOSITIVE
    Novo Nordisk: Ozempic presenta rischio inferiore di eventi cardiovascolari rispetto a Mounjaro di Eli Lilly

    Novo Nordisk's Ozempic has demonstrated a lower risk of cardiovascular events compared to Eli Lilly's Mounjaro in a real-world study involving adults with type 2 diabetes. The study, which utilized an increased dosage regimen, suggests a potential competitive advantage for Novo Nordisk's GLP-1 agonist in a key therapeutic area. This finding could bolster Ozempic's market position and potentially influence prescribing patterns, benefiting Novo Nordisk's revenue streams and investor outlook.

  • 6d agoPOSITIVE
    After capital-markets day flop, Novo strikes licensing deal that sends a Swedish company’s stock soaring

    Novo Nordisk has announced a significant licensing deal valued at over $1 billion, providing a much-needed boost following a recent capital-markets day that left investors uncertain about the company's future strategy. While details of the specific therapeutic areas or targets were not immediately disclosed, the substantial financial commitment signals a strategic move to expand its pipeline and potentially diversify its revenue streams beyond its core obesity and diabetes treatments. This development is likely to be viewed favorably by the market, offering a positive catalyst for Novo Nordisk's stock.

  • 8d agoNEUTRAL
    Novo vuole cambiare come Wall Street detiene le sue azioni: perché ora

    Novo Nordisk is considering delisting its American Depositary Receipts (ADRs) in favor of a direct listing on a New York stock exchange. CEO Mike Doustdar believes this move could enhance visibility. However, this proposal surfaces amid investor concerns about increasing competition from Eli Lilly and questions surrounding the long-term growth strategy beyond its blockbuster diabetes drugs, Ozempic and Wegovy. While a US listing might improve market access, regaining investor confidence will likely require more than just a change in listing venue, especially given Novo Nordisk's significant reliance on the US market.

  • 9d agoNEUTRAL
    AD di Novo Nordisk valuta M&A e un futuro a pillole dopo la reazione del mercato

    Novo Nordisk's CEO, Mike Doustdar, revealed the pharmaceutical giant is actively exploring mergers and acquisitions to address competitive gaps in the weight-loss drug market. This strategic move aims to bolster investor confidence following a challenging week. Doustdar indicated the company is identifying areas where external acquisition targets could offer superior products to internal development. The comments were made after a Capital Markets Day where Novo presented its turnaround plan, though investor conviction appears to be wavering. The focus on M&A signals a proactive approach to market positioning and pipeline expansion.

  • 10d agoNEGATIVE
    Novo Nordisk’s stock tumbles as doubts persist about Ozempic maker’s strategy

    Novo Nordisk's stock experienced a significant decline as investor sentiment soured due to persistent doubts surrounding the company's strategic direction. Despite being renowned for its leading weight-loss and diabetes medications, the pharmaceutical giant failed to alleviate concerns, leading to a sell-off. The market's reaction suggests a lack of confidence in the company's future growth prospects or its ability to maintain its competitive edge in the evolving healthcare landscape. Investors are likely reassessing their positions, awaiting clearer strategic initiatives or stronger performance indicators.

via Markets Gazette