Novo Nordisk ASMEX:NOVOBN +3.85%79 ROA % is 35.04% as of Mar. 2026, which is 14% above its 10-year median of 30.64. 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 1,006 Drug Manufacturers companies, Novo Nordisk AS ranks better than 97.42% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Novo Nordisk AS's annualizedNet Income for the quarter that ended in Mar. 2026 was MXN541,731 Mil.
Novo Nordisk AS's average Total Assets over the quarter that ended in Mar. 2026 was MXN1,546,160 Mil. Therefore, Novo Nordisk AS's annualized ROA % for the quarter that ended in Mar. 2026 was 35.04%.
The historical rank and industry rank for Novo Nordisk AS's ROA % or its related term are showing as below:
MEX:NOVOBN'
s ROA % Range Over the Past 10 Years
Min: 20.31 Med: 30.64 Max: 40.06
Current: 23.58
During the past 13 years, Novo Nordisk AS's highest ROA % was 40.06%. The lowest was 20.31%. And the median was 30.64%.
MEX:NOVOBN's ROA % is ranked better than 97.42% of 1006
companies
in the Drug Manufacturers industry
Industry Median: 2.685
vs MEX:NOVOBN: 23.58
Novo Nordisk AS (MEX:NOVOBN) ROA % Explanation
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.
* 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
Novo Nordisk AS ROA % Related Terms
Novo Nordisk AS ROA % Historical Data
* Premium members only.
The historical data trend for Novo Nordisk AS's ROA % 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.
For the Drug Manufacturers - General subindustry, Novo Nordisk AS's ROA %, along with its competitors' market caps and ROA % 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 ROA % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's ROA % distribution charts can be found below:
* The bar in red indicates where Novo Nordisk AS's ROA % 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.
In the calculation of annual ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
ROA % is displayed in the 30-year financial page.
Novo Nordisk AS (MEX:NOVOBN) has a ROA % of 35.04% as of Mar. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Novo Nordisk AS and its competitors. This is 14% above median its historical median of 30.64. Over the past decade, Novo Nordisk AS's ROA % has ranged from 20.31 to 40.06. According to the industry distribution chart, Novo Nordisk AS ranks #26 out of 1006 companies in the Drug Manufacturers industry, placing it in the top 2.6%.
Is Novo Nordisk AS's ROA % too high?
Novo Nordisk AS's current ROA % of 35.04% is 14% above median its 10-year median of 30.64. Over the past 10 years, this metric has ranged from a low of 20.31 to a high of 40.06. The Drug Manufacturers industry median ROA % is 2.69. Novo Nordisk AS's value of 35.04% is 1205% above this industry median. Based on the distribution chart, Novo Nordisk AS ranks #26 out of 1006 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 ROA % compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #26 out of 1006 companies for ROA %. This places Novo Nordisk AS in the top 3% of its industry — outperforming the majority of peers. The industry median ROA % is 2.69. Novo Nordisk AS's value of 35.04% is 1205% above this benchmark. Historically, Novo Nordisk AS's own ROA % has ranged from 20.31 to 40.06 over the past decade. While the company's 10-year median is 30.64 vs. the industry median of 2.69, 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 ROA % for a Drug Manufacturers company?
The median ROA % among Drug Manufacturers companies is 2.69, based on 1,006 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current ROA % of 35.04% is 1205% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median ROA % is 2.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current ROA % is 35.04%, which is 14% above median its own 10-year median of 30.64. 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 ROA % is 35.04%, which is 14% above median its 10-year median of 30.64 and 1205% above the Drug Manufacturers industry median of 2.69. 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 ROA % calculated?
ROA % is calculated from a company's financial statements. For Novo Nordisk AS (MEX:NOVOBN), the current ROA % is 35.04% 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:
ROA %: 35.04% (14% above median its 10-year median of 30.64)
GF Value™: MXN2,387.36 vs. price of MXN810.00 (66.1% below fair value)
Industry Position: 1205% above the Drug Manufacturers median (#26 of 1006)
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
Get the complete analysis for MEX:NOVOBN
ROA % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:NOVOBN has been successfully added to your 
