Novo Nordisk AS (HAM:NOVA) Moat Score: 9/10 (As of Jul. 01, 2026)


HAM:NOVA Novo Nordisk AS HAM:NOVA
84 GF Score
Price €42.32
GF Value €121.63
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Novo Nordisk AS Moat Score?

Novo Nordisk AS HAM:NOVA +1.10% 84 Moat Score is 9 as of Jul. 01, 2026. GuruFocus rates HAM:NOVA with a GF Score™ of 84/100 and a GF Value™ of €121.63 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,031 Drug Manufacturers companies, Novo Nordisk AS ranks better than 99.9% on this metric.

Novo Nordisk AS has the Moat Score of 9, which implies that the company might have Wide Moat - Clear and robust wide moat.

Novo Nordisk AS has Wide Moat: Novo Nordisk has a robust wide moat due to its leading position in diabetes care, strong brand, extensive patent portfolio, and significant R&D capabilities. Its pricing power and regulatory barriers further solidify its dominant market position.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Novo Nordisk AS might have Wide Moat - Clear and robust wide moat.

Novo Nordisk AS  (HAM:NOVA) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Novo Nordisk AS Moat Score Related Terms

HAM:NOVA vs LLY, JNJ, ABBV: Moat Score Comparison

For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Moat Score distribution charts can be found below:

* The bar in red indicates where Novo Nordisk AS's Moat Score falls into.


HAM:NOVA
84GF Score
Novo Nordisk AS HAM:NOVA
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis
Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 9 mean?
Novo Nordisk AS (HAM:NOVA) has a Moat Score of 9 as of Jul. 01, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Novo Nordisk AS ranks #1 out of 1031 companies in the Drug Manufacturers industry, placing it in the top 0.099999999999994%.
Is Novo Nordisk AS's Moat Score too high?
Novo Nordisk AS's current Moat Score is 9. Based on the distribution chart, Novo Nordisk AS ranks #1 out of 1031 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 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Moat Score compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #1 out of 1031 companies for Moat Score. This places Novo Nordisk AS in the top 0% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Drug Manufacturers company?
A good Moat Score depends on the Drug Manufacturers industry context. However, Moat Score 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 Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. Novo Nordisk AS's current Moat Score is 9. 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 (HAM:NOVA) is currently considered Significantly Undervalued. The stock's GF Value™ is €121.63, compared to a current price of €42.32 — trading 65.2% below its estimated fair value. The current Moat Score is 9. Novo Nordisk AS's overall GF Score™ is 84/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Novo Nordisk AS (HAM:NOVA), the current Moat Score is 9 as of Jul. 01, 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 (HAM:NOVA) Overvalued in 2026?

Based on GuruFocus' analysis, Novo Nordisk AS stock appears to be undervalued. The current stock price of €42.32 is trading 65.2% below its estimated GF Value™ of €121.63. GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.

Key valuation signals for HAM:NOVA:

  • Moat Score: 9
  • GF Value™: €121.63 vs. price of €42.32 (65.2% below fair value)
  • GF Score™: 84/100 with 4 warning signs

No single metric tells the full story. See the HAM:NOVA 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.
84GF Score

Get the complete analysis for HAM:NOVA

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

€42.32
Price
€121.63
GF Value