Novo Nordisk AS (MEX:NVON) Asset Turnover: 0.18 (As of Mar. 2026)


MEX:NVON Novo Nordisk AS MEX:NVON
76 GF Score
Price MXN831.50
GF Value MXN2,387.52
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Novo Nordisk AS Asset Turnover?

Novo Nordisk AS MEX:NVON -0.60% 76 Asset Turnover is 0.18 as of Mar. 2026. GuruFocus rates MEX:NVON with a GF Score™ of 76/100 and a GF Value™ of MXN2,387.52 (Significantly Undervalued). The stock has 4 warning signs investors should review.

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Novo Nordisk AS's Revenue for the three months ended in Mar. 2026 was MXN270,054 Mil. Novo Nordisk AS's Total Assets for the quarter that ended in Mar. 2026 was MXN1,546,160 Mil. Therefore, Novo Nordisk AS's Asset Turnover for the quarter that ended in Mar. 2026 was 0.18.

Asset Turnover is linked to ROE % through Du Pont Formula. Novo Nordisk AS's annualized ROE % for the quarter that ended in Mar. 2026 was 97.24%. It is also linked to ROA % through Du Pont Formula. Novo Nordisk AS's annualized ROA % for the quarter that ended in Mar. 2026 was 35.04%.

Novo Nordisk AS  (MEX:NVON) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Novo Nordisk AS's annulized ROE % for the quarter that ended in Mar. 2026 is

ROE %**(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=541731.28/557078.888
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(541731.28 / 1080215.992)*(1080215.992 / 1546159.9005)*(1546159.9005/ 557078.888)
=Net Margin %*Asset Turnover*Equity Multiplier
=50.15 %*0.6986*2.7755
=ROA %*Equity Multiplier
=35.04 %*2.7755
=97.24 %

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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Novo Nordisk AS's annulized ROA % for the quarter that ended in Mar. 2026 is

ROA %(Q: Mar. 2026 )
=Net Income/Total Assets
=541731.28/1546159.9005
=(Net Income / Revenue)*(Revenue / Total Assets)
=(541731.28 / 1080215.992)*(1080215.992 / 1546159.9005)
=Net Margin %*Asset Turnover
=50.15 %*0.6986
=35.04 %

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

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.

Novo Nordisk AS Asset Turnover Related Terms

Novo Nordisk AS Asset Turnover Historical Data

* Premium members only.

The historical data trend for Novo Nordisk AS's Asset Turnover 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 Asset Turnover Chart

Novo Nordisk AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Asset Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.81 0.77 0.80 0.79 0.60

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
Asset Turnover 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 0.17 0.16 0.15 0.15 0.18

MEX:NVON vs LLY, JNJ, ABBV: Asset Turnover Comparison

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

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

* The bar in red indicates where Novo Nordisk AS's Asset Turnover falls into.


MEX:NVON
76GF Score
Novo Nordisk AS MEX:NVON
Asset Turnover is just one metric. See GF Score™, valuation, warning signs, and more.
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Novo Nordisk AS Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Novo Nordisk AS's Asset Turnover for the fiscal year that ended in Dec. 2025 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2025 )/( (Total Assets (A: Dec. 2024 )+Total Assets (A: Dec. 2025 ))/ count )
=872462.32/( (1363507.897+1532567.813)/ 2 )
=872462.32/1448037.855
=0.60

Novo Nordisk AS's Asset Turnover for the quarter that ended in Mar. 2026 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Mar. 2026 )/( (Total Assets (Q: Dec. 2025 )+Total Assets (Q: Mar. 2026 ))/ count )
=270053.998/( (1532567.813+1559751.988)/ 2 )
=270053.998/1546159.9005
=0.17

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.

Frequently Asked Questions Learn more about Asset Turnover →
What does a Asset Turnover of 0.18 mean?
Novo Nordisk AS (MEX:NVON) has a Asset Turnover of 0.18 as of Mar. 2026. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Novo Nordisk AS and its competitors.
Is Novo Nordisk AS's Asset Turnover too high?
Novo Nordisk AS's current Asset Turnover is 0.18. Overall, Novo Nordisk AS has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Novo Nordisk AS's Asset Turnover compare to LLY and JNJ?
Novo Nordisk AS's Asset Turnover of 0.18 can be compared against companies in the Drug Manufacturers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Asset Turnover for a Drug Manufacturers company?
A good Asset Turnover depends on the Drug Manufacturers industry context. However, Asset Turnover 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 Asset Turnover mean?
A high Asset Turnover can signal that a stock is expensive relative to its fundamentals. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Novo Nordisk AS and its competitors. Novo Nordisk AS's current Asset Turnover is 0.18. 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:NVON) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN2,387.52, compared to a current price of MXN831.50 — trading 65.2% below its estimated fair value. The current Asset Turnover is 0.18. Novo Nordisk AS's overall GF Score™ is 76/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Asset Turnover calculated?
Asset Turnover is calculated from a company's financial statements. For Novo Nordisk AS (MEX:NVON), the current Asset Turnover is 0.18 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:NVON) Overvalued in 2026?

Based on GuruFocus' analysis, Novo Nordisk AS stock appears to be undervalued. The current stock price of MXN831.50 is trading 65.2% below its estimated GF Value™ of MXN2,387.52. GuruFocus considers Novo Nordisk AS to be Significantly Undervalued.

Key valuation signals for MEX:NVON:

  • Asset Turnover: 0.18
  • GF Value™: MXN2,387.52 vs. price of MXN831.50 (65.2% below fair value)
  • GF Score™: 76/100 with 4 warning signs

No single metric tells the full story. See the MEX:NVON 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.
76GF Score

Get the complete analysis for MEX:NVON

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

MXN831.50
Price
MXN2,387.52
GF Value