Novo Nordisk AS (HAM:NOVA) Dividend Payout Ratio: 1.20 (As of Mar. 2026) — 161% Above Median


HAM:NOVA Novo Nordisk AS HAM:NOVA
81 GF Score
Price €41.80
GF Value €119.15
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Novo Nordisk AS Dividend Payout Ratio?

Novo Nordisk AS HAM:NOVA -0.48% 81 Dividend Payout Ratio is 1.20 as of Mar. 2026, which is 161% above its 10-year median of 0.46. GuruFocus rates HAM:NOVA with a GF Score™ of 81/100 and a GF Value™ of €119.15 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 444 Drug Manufacturers companies, Novo Nordisk AS ranks worse than 68.24% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Novo Nordisk AS's Dividend Payout Ratio for the months ended in Mar. 2026 was 1.20.

The historical rank and industry rank for Novo Nordisk AS's Dividend Payout Ratio or its related term are showing as below:

HAM:NOVA' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.34   Med: 0.46   Max: 0.62
Current: 0.34

During the past 13 years, the highest Dividend Payout Ratio of Novo Nordisk AS was 0.62. The lowest was 0.34. And the median was 0.46.

HAM:NOVA's Dividend Payout Ratio is ranked worse than
68.24% of 444 companies
in the Drug Manufacturers industry
Industry Median: 0.375 vs HAM:NOVA: 0.34

As of today (2026-06-29), the Dividend Yield % of Novo Nordisk AS is 2.49%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Novo Nordisk AS was 5.10%. The lowest was 0.78%. And the median was 2.02%.

Novo Nordisk AS's Dividends per Share for the months ended in Mar. 2026 was €1.06.

During the past 12 months, Novo Nordisk AS's average Dividends Per Share Growth Rate was 2.60% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 27.80% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 23.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 12.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Novo Nordisk AS was 37.70% per year. The lowest was -30.80% per year. And the median was 15.80% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Novo Nordisk AS (HAM:NOVA) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Novo Nordisk AS Dividend Payout Ratio Related Terms

Novo Nordisk AS Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Novo Nordisk AS's Dividend Payout Ratio 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 Dividend Payout Ratio Chart

Novo Nordisk AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

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
Dividend Payout Ratio 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 0.00 0.00 0.00 0.00 1.20

HAM:NOVA vs LLY, JNJ, ABBV: Dividend Payout Ratio Comparison

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

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

* The bar in red indicates where Novo Nordisk AS's Dividend Payout Ratio falls into.


HAM:NOVA
81GF Score
Novo Nordisk AS HAM:NOVA
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Novo Nordisk AS Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Novo Nordisk AS's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=0/ 3.504
=0.00

Novo Nordisk AS's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=1.062/ 0.887
=1.20

* 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 Dividend Payout Ratio →
What does a Dividend Payout Ratio of 1.20 mean?
Novo Nordisk AS (HAM:NOVA) has a Dividend Payout Ratio of 1.20 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Novo Nordisk AS and its competitors. This is 161% above median its historical median of 0.46. Over the past decade, Novo Nordisk AS's Dividend Payout Ratio has ranged from 0.34 to 0.62. According to the industry distribution chart, Novo Nordisk AS ranks #303 out of 444 companies in the Drug Manufacturers industry, placing it in the top 68.2%.
Is Novo Nordisk AS's Dividend Payout Ratio too high?
Novo Nordisk AS's current Dividend Payout Ratio of 1.20 is 161% above median its 10-year median of 0.46. Over the past 10 years, this metric has ranged from a low of 0.34 to a high of 0.62. The Drug Manufacturers industry median Dividend Payout Ratio is 0.38. Novo Nordisk AS's value of 1.20 is 220% above this industry median. Based on the distribution chart, Novo Nordisk AS ranks #303 out of 444 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Novo Nordisk AS has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Dividend Payout Ratio compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #303 out of 444 companies for Dividend Payout Ratio. This places Novo Nordisk AS in the lower half of its industry. The industry median Dividend Payout Ratio is 0.38. Novo Nordisk AS's value of 1.20 is 220% above this benchmark. Historically, Novo Nordisk AS's own Dividend Payout Ratio has ranged from 0.34 to 0.62 over the past decade. While the company's 10-year median is 0.46 vs. the industry median of 0.38, 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 Dividend Payout Ratio for a Drug Manufacturers company?
The median Dividend Payout Ratio among Drug Manufacturers companies is 0.38, based on 444 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current Dividend Payout Ratio of 1.20 is 220% 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median Dividend Payout Ratio is 0.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current Dividend Payout Ratio is 1.20, which is 161% above median its own 10-year median of 0.46. 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 €119.15, compared to a current price of €41.80 — trading 64.9% below its estimated fair value. The current Dividend Payout Ratio is 1.20, which is 161% above median its 10-year median of 0.46 and 220% above the Drug Manufacturers industry median of 0.38. Novo Nordisk AS's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Novo Nordisk AS (HAM:NOVA), the current Dividend Payout Ratio is 1.20 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 (HAM:NOVA) Overvalued in 2026?

Based on GuruFocus' analysis, Novo Nordisk AS stock appears to be undervalued. The current stock price of €41.80 is trading 64.9% below its estimated GF Value™ of €119.15. GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.

Key valuation signals for HAM:NOVA:

  • Dividend Payout Ratio: 1.20 (161% above median its 10-year median of 0.46)
  • GF Value™: €119.15 vs. price of €41.80 (64.9% below fair value)
  • GF Score™: 81/100 with 4 warning signs
  • Industry Position: 220% above the Drug Manufacturers median (#303 of 444)

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.
81GF Score

Get the complete analysis for HAM:NOVA

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

€41.80
Price
€119.15
GF Value