Novo Nordisk ASMEX:NOVOBN +3.85%79 Gross Margin % is 85.96% as of Mar. 2026, which is 2% above its 10-year median of 84.07. GuruFocus rates MEX:NOVOBN with a GF Score™ of 79/100 and a GF Value™ of MXN2,387.36 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 938 Drug Manufacturers companies, Novo Nordisk AS ranks better than 94.03% on this metric.
The historical rank and industry rank for Novo Nordisk AS's Gross Margin % or its related term are showing as below:
MEX:NOVOBN'
s Gross Margin % Range Over the Past 10 Years
Min: 80.98 Med: 84.07 Max: 84.67
Current: 81.85
During the past 13 years, the highestGross Margin % of Novo Nordisk AS was 84.67%. The lowest was 80.98%. And the median was 84.07%.
MEX:NOVOBN's Gross Margin % is ranked better than 94.03% of 938
companies
in the Drug Manufacturers industry
Industry Median: 48.44
vs MEX:NOVOBN: 81.85
Novo Nordisk AS had a gross margin of 85.96% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Novo Nordisk AS was -0.30% per year.
Novo Nordisk AS (MEX:NOVOBN) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Novo Nordisk AS had a gross margin of 85.96% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Novo Nordisk AS Gross Margin % Related Terms
Novo Nordisk AS Gross Margin % Historical Data
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The historical data trend for Novo Nordisk AS's Gross Margin % 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.
MEX:NOVOBN vs LLY, JNJ, ABBV: Gross Margin % Comparison
For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Novo Nordisk AS's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Novo Nordisk AS (MEX:NOVOBN) has a Gross Margin % of 85.96% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Novo Nordisk AS and its competitors. This is near median its historical median of 84.07. Over the past decade, Novo Nordisk AS's Gross Margin % has ranged from 80.98 to 84.67. According to the industry distribution chart, Novo Nordisk AS ranks #56 out of 938 companies in the Drug Manufacturers industry, placing it in the top 6%.
Is Novo Nordisk AS's Gross Margin % too high?
Novo Nordisk AS's current Gross Margin % of 85.96% is near median its 10-year median of 84.07. Over the past 10 years, this metric has ranged from a low of 80.98 to a high of 84.67. The Drug Manufacturers industry median Gross Margin % is 48.44. Novo Nordisk AS's value of 85.96% is 77.5% above this industry median. Based on the distribution chart, Novo Nordisk AS ranks #56 out of 938 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 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Gross Margin % compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #56 out of 938 companies for Gross Margin %. This places Novo Nordisk AS in the top 6% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 48.44. Novo Nordisk AS's value of 85.96% is 77.5% above this benchmark. Historically, Novo Nordisk AS's own Gross Margin % has ranged from 80.98 to 84.67 over the past decade. While the company's 10-year median is 84.07 vs. the industry median of 48.44, 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 Gross Margin % for a Drug Manufacturers company?
The median Gross Margin % among Drug Manufacturers companies is 48.44, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current Gross Margin % of 85.96% is 77.5% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median Gross Margin % is 48.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current Gross Margin % is 85.96%, which is near median its own 10-year median of 84.07. 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 (MEX:NOVOBN) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN2,387.36, compared to a current price of MXN810.00 — trading 66.1% below its estimated fair value. The current Gross Margin % is 85.96%, which is near median its 10-year median of 84.07 and 77.5% above the Drug Manufacturers industry median of 48.44. Novo Nordisk AS's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Novo Nordisk AS (MEX:NOVOBN), the current Gross Margin % is 85.96% 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 (MEX:NOVOBN) Overvalued in 2026?
Based on GuruFocus' analysis, Novo Nordisk AS stock appears to be undervalued.
The current stock price of MXN810.00 is trading 66.1% below its estimated GF Value™ of MXN2,387.36.
GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.
Key valuation signals for MEX:NOVOBN:
Gross Margin %: 85.96% (near median its 10-year median of 84.07)
GF Value™: MXN2,387.36 vs. price of MXN810.00 (66.1% below fair value)
Industry Position: 77.5% above the Drug Manufacturers median (#56 of 938)
No single metric tells the full story. See the MEX:NOVOBN 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.
79GF Score
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