Novo Nordisk AS (WBO:NNO2) Deferred Tax: €4,515 Mil (TTM As of Mar. 2026)


WBO:NNO2 Novo Nordisk AS WBO:NNO2
71 GF Score
Price €43.06
GF Value €120.14
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Novo Nordisk AS Deferred Tax?

Novo Nordisk AS WBO:NNO2 -1.23% 71 Deferred Tax is €4,515 Mil as of Mar. 2026. GuruFocus rates WBO:NNO2 with a GF Score™ of 71/100 and a GF Value™ of €120.14 (Significantly Undervalued). The stock has 4 warning signs investors should review.

Change In Deferred Tax represents future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities, and their tax value. This arises due to differences between financial accounting for shareholders and tax accounting.

Novo Nordisk AS's change in deferred tax for the three months ended in Mar. 2026 was €1,822 Mil. Its change in deferred tax for the trailing twelve months (TTM) ended in Mar. 2026 was €4,515 Mil.

Novo Nordisk AS Deferred Tax Related Terms

Novo Nordisk AS Deferred Tax Historical Data

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The historical data trend for Novo Nordisk AS's Deferred Tax can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Novo Nordisk AS Deferred Tax Chart

Novo Nordisk AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Deferred Tax
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,522.70 1,819.61 2,816.29 3,513.55 3,763.10

Novo Nordisk AS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Deferred Tax Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,072.44 978.79 738.38 976.59 1,821.57
WBO:NNO2
71GF Score
Novo Nordisk AS WBO:NNO2
Deferred Tax is just one metric. See GF Score™, valuation, warning signs, and more.
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Novo Nordisk AS Deferred Tax Calculation

Change In Deferred Tax represents future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities, and their tax value. This arises due to differences between financial accounting for shareholders and tax accounting.

Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €4,515 Mil.


* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Deferred Tax →
What does a Deferred Tax of €4,515 Mil mean?
Novo Nordisk AS (WBO:NNO2) has a Deferred Tax of €4,515 Mil as of Mar. 2026. Change in Defered Tax is amount of deferred tax assets or liabilities due to temporary differences in financial and tax accounting. View historical data for Novo Nordisk AS.
Is Novo Nordisk AS's Deferred Tax too high?
Novo Nordisk AS's current Deferred Tax is €4,515 Mil. Overall, Novo Nordisk AS has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Deferred Tax compare to LLY and JNJ?
Novo Nordisk AS's Deferred Tax of €4,515 Mil can be compared against companies in the Drug Manufacturers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Deferred Tax for a Drug Manufacturers company?
A good Deferred Tax depends on the Drug Manufacturers industry context. However, Deferred Tax should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Deferred Tax mean?
A high Deferred Tax can signal that a stock is expensive relative to its fundamentals. Change in Defered Tax is amount of deferred tax assets or liabilities due to temporary differences in financial and tax accounting. View historical data for Novo Nordisk AS. Novo Nordisk AS's current Deferred Tax is €4,515 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novo Nordisk AS stock overvalued right now?
Based on GuruFocus' analysis, Novo Nordisk AS (WBO:NNO2) is currently considered Significantly Undervalued. The stock's GF Value™ is €120.14, compared to a current price of €43.06 — trading 64.2% below its estimated fair value. The current Deferred Tax is €4,515 Mil. Novo Nordisk AS's overall GF Score™ is 71/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Deferred Tax calculated?
Deferred Tax is calculated from a company's financial statements. For Novo Nordisk AS (WBO:NNO2), the current Deferred Tax is €4,515 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Novo Nordisk AS (WBO:NNO2) Overvalued in 2026?

Based on GuruFocus' analysis, Novo Nordisk AS stock appears to be undervalued. The current stock price of €43.06 is trading 64.2% below its estimated GF Value™ of €120.14. GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.

Key valuation signals for WBO:NNO2:

  • Deferred Tax: €4,515 Mil
  • GF Value™: €120.14 vs. price of €43.06 (64.2% below fair value)
  • GF Score™: 71/100 with 4 warning signs

No single metric tells the full story. See the WBO:NNO2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Novo Nordisk AS Business Description

Address Novo Alle 1, Bagsvaerd, DNK, 2880
With roughly one-third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (contributing less than 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
71GF Score

Get the complete analysis for WBO:NNO2

Deferred Tax is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€43.06
Price
€120.14
GF Value