Novo Nordisk ASWBO:NNO2 +1.76%71 Earnings Yield (Joel Greenblatt) % is 13.91% as of Mar. 2026, which is 157% above its 10-year median of 5.41. GuruFocus rates WBO:NNO2 with a GF Score™ of 71/100 and a GF Value™ of €120.11 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,013 Drug Manufacturers companies, Novo Nordisk AS ranks better than 82.43% on this metric.
Novo Nordisk AS's Enterprise Value for the quarter that ended in Mar. 2026 was €154,635 Mil.
Novo Nordisk AS's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was €21,404 Mil. Novo Nordisk AS's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 13.91%.
The historical rank and industry rank for Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
WBO:NNO2'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.53 Med: 5.41 Max: 13.56
Current: 10.16
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Novo Nordisk AS was 13.56%. The lowest was 2.53%. And the median was 5.41%.
WBO:NNO2's Earnings Yield (Joel Greenblatt) % is ranked better than 82.43% of 1013
companies
in the Drug Manufacturers industry
Industry Median: 3.23
vs WBO:NNO2: 10.16
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Novo Nordisk AS's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 25.35%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Novo Nordisk AS (WBO:NNO2) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Novo Nordisk AS Earnings Yield (Joel Greenblatt) % Related Terms
Novo Nordisk AS Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % Chart
For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % falls into.
Novo Nordisk AS Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Novo Nordisk ASs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Novo Nordisk AS's EBIT 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 €21,404 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 13.91% mean?
Novo Nordisk AS (WBO:NNO2) has a Earnings Yield (Joel Greenblatt) % of 13.91% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Novo Nordisk AS and its competitors. This is 157% above median its historical median of 5.41. Over the past decade, Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % has ranged from 2.53 to 13.56. According to the industry distribution chart, Novo Nordisk AS ranks #178 out of 1013 companies in the Drug Manufacturers industry, placing it in the top 17.6%.
Is Novo Nordisk AS's Earnings Yield (Joel Greenblatt) % too high?
Novo Nordisk AS's current Earnings Yield (Joel Greenblatt) % of 13.91% is 157% above median its 10-year median of 5.41. Over the past 10 years, this metric has ranged from a low of 2.53 to a high of 13.56. The Drug Manufacturers industry median Earnings Yield (Joel Greenblatt) % is 3.23. Novo Nordisk AS's value of 13.91% is 330.7% above this industry median. Based on the distribution chart, Novo Nordisk AS ranks #178 out of 1013 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. 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 Earnings Yield (Joel Greenblatt) % compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #178 out of 1013 companies for Earnings Yield (Joel Greenblatt) %. This places Novo Nordisk AS in the top 18% of its industry — outperforming the majority of peers. The industry median Earnings Yield (Joel Greenblatt) % is 3.23. Novo Nordisk AS's value of 13.91% is 330.7% above this benchmark. Historically, Novo Nordisk AS's own Earnings Yield (Joel Greenblatt) % has ranged from 2.53 to 13.56 over the past decade. While the company's 10-year median is 5.41 vs. the industry median of 3.23, Novo Nordisk AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a Drug Manufacturers company?
The median Earnings Yield (Joel Greenblatt) % among Drug Manufacturers companies is 3.23, based on 1,013 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current Earnings Yield (Joel Greenblatt) % of 13.91% is 330.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median Earnings Yield (Joel Greenblatt) % is 3.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current Earnings Yield (Joel Greenblatt) % is 13.91%, which is 157% above median its own 10-year median of 5.41. 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 €120.11, compared to a current price of €43.59 — trading 63.7% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 13.91%, which is 157% above median its 10-year median of 5.41 and 330.7% above the Drug Manufacturers industry median of 3.23. 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 Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Novo Nordisk AS (WBO:NNO2), the current Earnings Yield (Joel Greenblatt) % is 13.91% 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 €43.59 is trading 63.7% below its estimated GF Value™ of €120.11.
GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.
Key valuation signals for WBO:NNO2:
Earnings Yield (Joel Greenblatt) %: 13.91% (157% above median its 10-year median of 5.41)
GF Value™: €120.11 vs. price of €43.59 (63.7% below fair value)
Industry Position: 330.7% above the Drug Manufacturers median (#178 of 1013)
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.
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
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WBO:NNO2 has been successfully added to your 
