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Novo Nordisk AS (OCSE:NOVO B) Cyclically Adjusted Price-to-FCF : 38.18 (As of Jul. 19, 2025)


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What is Novo Nordisk AS Cyclically Adjusted Price-to-FCF?

As of today (2025-07-19), Novo Nordisk AS's current share price is kr414.60. Novo Nordisk AS's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was kr10.86. Novo Nordisk AS's Cyclically Adjusted Price-to-FCF for today is 38.18.

The historical rank and industry rank for Novo Nordisk AS's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

OCSE:NOVO B' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 27.84   Med: 42.35   Max: 104.1
Current: 38.16

During the past years, Novo Nordisk AS's highest Cyclically Adjusted Price-to-FCF was 104.10. The lowest was 27.84. And the median was 42.35.

OCSE:NOVO B's Cyclically Adjusted Price-to-FCF is ranked worse than
56.79% of 324 companies
in the Drug Manufacturers industry
Industry Median: 33.145 vs OCSE:NOVO B: 38.16

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Novo Nordisk AS's adjusted free cash flow per share data for the three months ended in Mar. 2025 was kr2.250. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is kr10.86 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Novo Nordisk AS Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Novo Nordisk AS's Cyclically Adjusted Price-to-FCF 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.

* Premium members only.

Novo Nordisk AS Cyclically Adjusted Price-to-FCF Chart

Novo Nordisk AS Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 36.50 54.67 56.11 73.65 58.89

Novo Nordisk AS Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Price-to-FCF 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 91.21 97.23 72.67 58.89 43.24

Competitive Comparison of Novo Nordisk AS's Cyclically Adjusted Price-to-FCF

For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Novo Nordisk AS's Cyclically Adjusted Price-to-FCF Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Novo Nordisk AS's Cyclically Adjusted Price-to-FCF falls into.


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Novo Nordisk AS Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Novo Nordisk AS's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=414.60/10.86
=38.18

* 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's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Novo Nordisk AS's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=2.25/120.2000*120.2000
=2.250

Current CPI (Mar. 2025) = 120.2000.

Novo Nordisk AS Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 2.097 100.300 2.513
201509 2.099 100.200 2.518
201512 1.362 99.800 1.640
201603 1.242 100.200 1.490
201606 2.507 100.600 2.995
201609 2.486 100.200 2.982
201612 1.667 100.300 1.998
201703 2.077 101.200 2.467
201706 1.713 101.200 2.035
201709 2.211 101.800 2.611
201712 0.569 101.300 0.675
201803 1.404 101.700 1.659
201806 2.717 102.300 3.192
201809 1.800 102.400 2.113
201812 0.713 102.100 0.839
201903 1.434 102.900 1.675
201906 2.572 102.900 3.004
201909 3.000 102.900 3.504
201912 0.465 102.900 0.543
202003 1.760 103.300 2.048
202006 4.882 103.200 5.686
202009 2.445 103.500 2.840
202012 -2.738 103.400 -3.183
202103 2.107 104.300 2.428
202106 5.067 105.000 5.801
202109 4.314 105.800 4.901
202112 -1.162 106.600 -1.310
202203 4.775 109.900 5.223
202206 4.698 113.600 4.971
202209 4.411 116.400 4.555
202212 0.205 115.900 0.213
202303 5.542 117.300 5.679
202306 4.784 116.400 4.940
202309 6.759 117.400 6.920
202312 -1.539 116.700 -1.585
202403 1.187 118.400 1.205
202406 8.345 118.500 8.465
202409 7.027 118.900 7.104
202412 -0.956 118.900 -0.966
202503 2.250 120.200 2.250

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Novo Nordisk AS  (OCSE:NOVO B) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Novo Nordisk AS Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Novo Nordisk AS's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


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 (constituting less than 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.

Novo Nordisk AS Headlines

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