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Novo Nordisk ASWBO:NNO2 +0.79%80 Shiller PE Ratio is 19.45 as of Aug. 24, 2026, which is 41% below its 10-year median of 33.09. GuruFocus rates WBO:NNO2 with a GF Score™ of 80/100 and a GF Value™ of €94.89 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 529 Drug Manufacturers companies, Novo Nordisk AS ranks better than 60.49% on this metric.
As of today (2026-08-24), Novo Nordisk AS's current share price is €40.075. Novo Nordisk AS's E10 for the quarter that ended in Jun. 2026 was €2.06. Novo Nordisk AS's Shiller PE Ratio for today is 19.45.
The historical rank and industry rank for Novo Nordisk AS's Shiller PE Ratio or its related term are showing as below:
WBO:NNO2'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 16.06 Med: 33.09 Max: 92.94
Current: 19.87
During the past years, Novo Nordisk AS's highest Shiller PE Ratio was 92.94. The lowest was 16.06. And the median was 33.09.
WBO:NNO2's Shiller PE Ratio is ranked better than 60.49% of 529
companies
in the Drug Manufacturers industry
Industry Median: 25.36
vs WBO:NNO2: 19.87
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Novo Nordisk AS's adjusted earnings per share data for the three months ended in Jun. 2026 was €0.634. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is €2.06 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Novo Nordisk AS (WBO:NNO2) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Novo Nordisk AS Shiller PE Ratio Related Terms
Novo Nordisk AS Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for Novo Nordisk AS's Shiller PE 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.
WBO:NNO2 vs LLY, JNJ, ABBV: Shiller PE Ratio Comparison
For the Drug Manufacturers - General subindustry, Novo Nordisk AS's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Novo Nordisk AS's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Novo Nordisk AS's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
Novo Nordisk AS's Shiller PE Ratio for today is calculated as
* 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's E10 for the quarter that ended in Jun. 2026 is calculated as:
For example, Novo Nordisk AS's adjusted earnings per share data for the three months ended in Jun. 2026 was:
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Novo Nordisk AS (WBO:NNO2) has a Shiller PE Ratio of 19.45 as of Aug. 24, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Novo Nordisk AS and its competitors. This is 41% below median its historical median of 33.09. Over the past decade, Novo Nordisk AS's Shiller PE Ratio has ranged from 16.06 to 92.94. According to the industry distribution chart, Novo Nordisk AS ranks #209 out of 529 companies in the Drug Manufacturers industry, placing it in the top 39.5%.
Is Novo Nordisk AS's Shiller PE Ratio too high?
Novo Nordisk AS's current Shiller PE Ratio of 19.45 is 41% below median its 10-year median of 33.09. Over the past 10 years, this metric has ranged from a low of 16.06 to a high of 92.94. The Drug Manufacturers industry median Shiller PE Ratio is 25.36. Novo Nordisk AS's value of 19.45 is 23.3% below this industry median. Based on the distribution chart, Novo Nordisk AS ranks #209 out of 529 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Novo Nordisk AS has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Shiller PE Ratio compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Novo Nordisk AS ranks #209 out of 529 companies for Shiller PE Ratio. This puts Novo Nordisk AS in the upper half of its industry. The industry median Shiller PE Ratio is 25.36. Novo Nordisk AS's value of 19.45 is 23.3% below this benchmark. Historically, Novo Nordisk AS's own Shiller PE Ratio has ranged from 16.06 to 92.94 over the past decade. While the company's 10-year median is 33.09 vs. the industry median of 25.36, Novo Nordisk AS has consistently been below 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 Shiller PE Ratio for a Drug Manufacturers company?
The median Shiller PE Ratio among Drug Manufacturers companies is 25.36, based on 529 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Novo Nordisk AS's current Shiller PE Ratio of 19.45 is 23.3% below 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Novo Nordisk AS and its competitors. For the Drug Manufacturers industry, the median Shiller PE Ratio is 25.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Novo Nordisk AS's current Shiller PE Ratio is 19.45, which is 41% below median its own 10-year median of 33.09. 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 €94.89, compared to a current price of €40.08 — trading 57.8% below its estimated fair value. The current Shiller PE Ratio is 19.45, which is 41% below median its 10-year median of 33.09 and 23.3% below the Drug Manufacturers industry median of 25.36. Novo Nordisk AS's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Novo Nordisk AS (WBO:NNO2), the current Shiller PE Ratio is 19.45 as of Aug. 24, 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 57.8% below its estimated GF Value™ of €94.89.
GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.
Key valuation signals for WBO:NNO2:
Shiller PE Ratio: 19.45 (41% below median its 10-year median of 33.09)
GF Value™: €94.89 vs. price of €40.08 (57.8% below fair value)
Industry Position: 23.3% below the Drug Manufacturers median (#209 of 529)
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.
80GF Score
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