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Novo Nordisk ASWBO:NNO2 +0.79%79 Price-to-Free-Cash-Flow is 27.81 as of Aug. 22, 2026, which is 3% below its 10-year median of 28.73. GuruFocus rates WBO:NNO2 with a GF Score™ of 79/100 and a GF Value™ of €93.13 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 539 Drug Manufacturers companies, Novo Nordisk AS ranks worse than 57.88% on this metric.
As of today (2026-08-22), Novo Nordisk AS's share price is €40.075.
Novo Nordisk AS's Free Cash Flow per Share for the trailing twelve months (TTM) ended in Jun. 2026 was €1.44. Hence, Novo Nordisk AS's Price-to-Free-Cash-Flow Ratio for today is 27.81.
The historical rank and industry rank for Novo Nordisk AS's Price-to-Free-Cash-Flow or its related term are showing as below:
WBO:NNO2'
s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 13.71 Med: 28.73 Max: 89.86
Current: 27.92
During the past 13 years, Novo Nordisk AS's highest Price-to-Free-Cash-Flow Ratio was 89.86. The lowest was 13.71. And the median was 28.73.
WBO:NNO2's Price-to-Free-Cash-Flow is ranked worse than 57.88% of 539
companies
in the Drug Manufacturers industry
Industry Median: 21.53
vs WBO:NNO2: 27.92
During the past 12 months, the average Free Cash Flow per Share Growth Rate of Novo Nordisk AS was -23.50% per year.
During the past 3 years, the average Free Cash Flow per Share Growth Rate was -22.70% per year.
During the past 5 years, the average Free Cash Flow per Share Growth Rate was 4.20% per year.
During the past 10 years, the average Free Cash Flow per Share Growth Rate was 7.00% per year.
During the past 13 years, Novo Nordisk AS's highest 3-Year average Free Cash Flow per Share Growth Rate was 130.30% per year. The lowest was -51.70% per year. And the median was 21.70% per year.
Novo Nordisk AS (WBO:NNO2) Price-to-Free-Cash-Flow Explanation
Free Cash Flow is considered more important than earnings by value investors. The reason is because, in principle, only the net cash that can be taken from the business belongs to shareholders. This Free Cash Flow can be used to grow the business, reduce debt or return to shareholders in dividends or share buybacks.
In a DCF Calculation Free Cash Flow is used to determine the intrinsic value of companies.
Be Aware
In real business, Free Cash Flow can be affected by the change in accounts receivable, accounts payable, management's decision on expansion, etc. Therefore, investors should look at the Free Cash Flow over the longer term. Long-term average of Free Cash Flow is a more reliable indicator for real free cash flow.
Novo Nordisk AS Price-to-Free-Cash-Flow Related Terms
Novo Nordisk AS Price-to-Free-Cash-Flow Historical Data
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The historical data trend for Novo Nordisk AS's Price-to-Free-Cash-Flow 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.
WBO:NNO2 vs LLY, JNJ, ABBV: Price-to-Free-Cash-Flow Comparison
For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Price-to-Free-Cash-Flow, along with its competitors' market caps and Price-to-Free-Cash-Flow 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 Price-to-Free-Cash-Flow vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Price-to-Free-Cash-Flow distribution charts can be found below:
* The bar in red indicates where Novo Nordisk AS's Price-to-Free-Cash-Flow falls into.
Novo Nordisk AS's Share Price of today is €40.075. Novo Nordisk AS's Free Cash Flow per Share for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1.44.
* 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.
It can also be calculated from the numbers for the whole company:
What does a Price-to-Free-Cash-Flow of 27.81 mean?
Novo Nordisk AS (WBO:NNO2) has a Price-to-Free-Cash-Flow of 27.81 as of Aug. 22, 2026. Price-to-free-cash-flow ratio is the ratio of share price to a company's free cash flow per share. View historical data on Novo Nordisk AS and its competitors. This is near median its historical median of 28.73. Over the past decade, Novo Nordisk AS's Price-to-Free-Cash-Flow has ranged from 13.71 to 89.86. According to the industry distribution chart, Novo Nordisk AS ranks #312 out of 539 companies in the Drug Manufacturers industry, placing it in the top 57.9%.
Is Novo Nordisk AS's Price-to-Free-Cash-Flow too high?
Novo Nordisk AS's current Price-to-Free-Cash-Flow of 27.81 is near median its 10-year median of 28.73. Over the past 10 years, this metric has ranged from a low of 13.71 to a high of 89.86. The Drug Manufacturers industry median Price-to-Free-Cash-Flow is 21.53. Novo Nordisk AS's value of 27.81 is 29.2% above this industry median. Based on the distribution chart, Novo Nordisk AS ranks #312 out of 539 companies in the Drug Manufacturers industry, which is below the industry midpoint. 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 Price-to-Free-Cash-Flow compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #312 out of 539 companies for Price-to-Free-Cash-Flow. This places Novo Nordisk AS in the lower half of its industry. The industry median Price-to-Free-Cash-Flow is 21.53. Novo Nordisk AS's value of 27.81 is 29.2% above this benchmark. Historically, Novo Nordisk AS's own Price-to-Free-Cash-Flow has ranged from 13.71 to 89.86 over the past decade. While the company's 10-year median is 28.73 vs. the industry median of 21.53, 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 Price-to-Free-Cash-Flow for a Drug Manufacturers company?
The median Price-to-Free-Cash-Flow among Drug Manufacturers companies is 21.53, based on 539 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Free-Cash-Flow significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Free-Cash-Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current Price-to-Free-Cash-Flow of 27.81 is 29.2% 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 Price-to-Free-Cash-Flow mean?
A high Price-to-Free-Cash-Flow can signal that a stock is expensive relative to its fundamentals. Price-to-free-cash-flow ratio is the ratio of share price to a company's free cash flow per share. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median Price-to-Free-Cash-Flow is 21.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current Price-to-Free-Cash-Flow is 27.81, which is near median its own 10-year median of 28.73. 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 €93.13, compared to a current price of €40.08 — trading 57% below its estimated fair value. The current Price-to-Free-Cash-Flow is 27.81, which is near median its 10-year median of 28.73 and 29.2% above the Drug Manufacturers industry median of 21.53. Novo Nordisk AS's overall GF Score™ is 79/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Free-Cash-Flow calculated?
Price-to-Free-Cash-Flow is calculated from a company's financial statements. For Novo Nordisk AS (WBO:NNO2), the current Price-to-Free-Cash-Flow is 27.81 as of Aug. 22, 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 €40.08 is trading 57% below its estimated GF Value™ of €93.13.
GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.
Key valuation signals for WBO:NNO2:
Price-to-Free-Cash-Flow: 27.81 (near median its 10-year median of 28.73)
GF Value™: €93.13 vs. price of €40.08 (57% below fair value)
Industry Position: 29.2% above the Drug Manufacturers median (#312 of 539)
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.
79GF Score
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