← NOVO NORDISK A S

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Net Income — — — — — — $55.5b $83.7b $101.0b $102.4b
Net Income From Continuing Operations — — — — — — $55.5b $83.7b $101.0b $102.4b
Other Adjustments To Reconcile Profit Loss ($358.0m) $114.0m $438.0m $67.0m $3.3b ($4.4b) $1.2b ($373.0m) $2.9b ($1.8b)
Adjustments For Depreciation And Amortisation Expense And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss $3.2b $3.2b $3.9b $5.7b $5.8b $6.0b $7.4b $9.4b $19.1b $22.0b
Amortization Cash Flow — — — — — — $1.6b — $2.5b —
Amortization Of Intangibles — — — — — — $1.6b — $2.5b —
Depreciation — — — — — — $7.4b $9.4b $19.1b $22.0b
Depreciation Amortization Depletion — — — — — — $7.4b $9.4b $19.1b $22.0b
Depreciation, amortisation and impairment losses — — — $5.7b $5.8b $6.0b $7.4b $9.4b $19.1b $22.0b
Adjustments For Deferred Tax Of Prior Periods $1.1b $231.0m $47.0m $77.0m ($1.1b) ($417.0m) ($825.0m) $453.0m ($567.0m) $303.0m
Deferred Income Tax — — — — — — $13.5b $21.0b $26.2b $28.1b
Deferred Tax — — — — — — $13.5b $21.0b $26.2b $28.1b
Adjustments For Share-Based Payments $368.0m $292.0m $414.0m $363.0m $823.0m $1.0b $1.5b $2.1b $2.3b $1.4b
Asset Impairment Charge — — — — — — $809.0m — $10.6b —
Adjustments For Income Tax Expense $9.9b $10.6b $9.0b $9.6b $11.0b $11.3b $13.5b $21.0b $26.2b $28.1b
Earnings (Loss)es From Equity Investments — — — — — $24.0m $189.0m ($81.0m) $17.0m —
Proceeds From Sales Of Investments Other Than Investments Accounted For Using Equity Method $2.1b $2.0b $0 $0 — — — — — —
Changes in working capital — — — ($3.4b) ($4.4b) ($8.7b) ($5.3b) ($12.2b) ($12.0b) $3.7b
Additional Financial Items
Adjustments For Current Tax Of Prior Period ($3.2b) ($425.0m) ($522.0m) ($191.0m) ($563.0m) ($603.0m) $339.0m ($916.0m) $172.0m ($1.3b)
Adjustments For Decrease Increase In Trade Account Receivable ($4.7b) $69.0m ($2.6b) ($2.1b) ($2.8b) ($12.9b) ($9.9b) ($14.2b) ($7.2b) $1.1b
Adjustments For Gain Loss On Disposal Of Investments In Subsidiaries Joint Ventures And Associates $0 $0 — — — — — — — —
Adjustments For Increase Decrease In Trade Account Payable $1.1b ($401.0m) $1.1b ($398.0m) ($641.0m) $3.2b $6.7b $10.0b $3.2b $2.6b
Adjustments For Undistributed Profits Of Associates $24.0m $14.0m $12.0m ($137.0m) $149.0m ($24.0m) ($189.0m) $81.0m ($17.0m) ($17.0m)
Adjustments For Unrealised Foreign Exchange Losses Gains ($168.0m) $1.4b $6.0m ($176.0m) ($1.7b) $1.5b $1.3b ($1.2b) $1.4b ($9.4b)
Beginning Cash Position — — — — — — $10.7b $12.7b $14.4b $15.7b
Cash Flow From Continuing Financing Activities — — — — — — ($51.8b) ($63.2b) $8.7b ($28.4b)
Cash Flow From Continuing Investing Activities — — — — — — ($24.9b) ($43.9b) ($128.9b) ($79.2b)
Cash used for acquisition of businesses — — — $0 $0 ($18.3b) ($7.1b) $0 ($82.2b) $0
Change In Account Payable — — — — — $3.2b $6.7b $10.0b $3.2b —
Change In Inventory — — — — — ($1.1b) ($4.8b) ($7.4b) ($9.0b) —
Change In Other Current Liabilities — — — — — $2.6b $3.7b $5.1b $9.1b —
Change In Other Working Capital — — — — — $74.0m $1.2b ($1.2b) $2.5b —
Change In Payable — — — — — $3.1b $5.2b $7.6b ($280.0m) —
Change In Payables And Accrued Expense — — — — — $3.1b $5.2b $7.6b ($280.0m) —
Change In Receivables — — — — — ($13.8b) ($10.8b) ($16.3b) ($14.3b) —
Change In Working Capital — — — — — — ($5.5b) $19.7b $2.6b $3.7b
Changes In Account Receivables — — — — — ($12.9b) ($9.9b) ($14.2b) ($7.2b) —
Changes In Cash — — — — — — $2.2b $1.9b $808.0m $11.5b
End Cash Position — — — — — — $12.7b $14.4b $15.7b $26.5b
Financing Cash Flow — — — — — — ($51.8b) ($63.2b) $8.7b ($28.4b)
Free Cash Flow — — — — — — $64.1b $70.0b $69.7b $29.0b
Gain Loss On Investment Securities — — — — — ($340.0m) $2.6b $106.0m ($5.1b) —
Goodwill — — — — — — — — $15.3b $19.8b
Income taxes in the income statement — — — $9.6b $11.0b $11.3b $13.5b $21.0b $26.2b $28.1b
Increase Decrease In Working Capital $3.7b $3.6b $3.4b $3.4b $4.4b $8.7b $5.3b $12.2b $12.0b ($3.7b)
Interest Received CFO — — — — — — $276.0m $1.1b $1.9b $1.4b
Interest Received Classified As Operating Activities $114.0m $101.0m $51.0m $64.0m $100.0m $241.0m $276.0m $1.1b $1.9b $1.4b
Interest received — — — $64.0m $100.0m $241.0m $276.0m $1.1b $1.9b $1.4b
Investing Cash Flow — — — — — — ($24.9b) ($43.9b) ($128.9b) ($79.2b)
Net Business Purchase And Sale — — — — — — ($7.1b) $0 ($82.2b) $1.0b
Net Foreign Currency Exchange Gain Loss — — — — — — ($3.2b) $2.3b ($5.8b) —
Net Intangibles Purchase And Sale — — — — — — ($2.6b) ($13.1b) ($4.1b) ($30.0b)
Net PPE Purchase And Sale — — — — — — ($12.1b) ($25.8b) ($47.2b) ($60.1b)
Net cash generated from activities — — — ($211.0m) ($2.7b) ($2.1b) $2.2b $1.9b $808.0m $11.5b
Net profit — — — $39.0b $42.1b $47.8b $55.5b $83.7b $101.0b $102.4b
Operating Gains Losses — — — — — $16.3b $138.0m $32.3b ($11.0b) —
Other Non Cash Items — — — — — — $2.4b $424.0m $445.0m ($3.1b)
Other non-cash items — — — $7.0b $7.8b $13.0b $22.3b $32.4b $15.0b ($3.1b)
Payments To Acquire Or Redeem Entitys Shares $15.1b $16.8b $15.6b $15.3b $16.9b $19.4b $24.1b $29.9b $20.2b $1.4b
Pension And Employee Benefit Expense — — — — — $16.6b $615.0m $32.2b ($119.0m) —
Proceeds From Borrowings Classified As Financing Activities — — $94.0m — $5.7b $22.2b $11.2b $0 $79.4b $103.9b
Proceeds From Disposal Or Maturity Of Availableforsale Financial Assets — — — — — $1.2b $6.6b $8.3b — —
Proceeds from borrowings — — — $81.0m $5.7b $22.2b $11.2b $0 $79.4b $103.9b
Proceeds from other financial assets — — — $148.0m $12.0m $0 $0 $33.0m $0 $30.0m
Provisionand Write Offof Assets — — — — — — $18.5b $32.2b $21.0b —
Purchase Of Business — — — — — — ($7.1b) $0 ($82.2b) $0
Purchase Of Financial Assets Measured At Fair Value Through Profit Or Loss Classified As Investing Activities — — — — — — — — $19.0b $498.0m
Purchase Of Intangible Assets Classified As Investing Activities $1.2b $1.0b $2.8b $2.3b $16.3b $1.1b $2.6b $13.1b $4.1b $30.0b
Purchase Of Intangibles — — — — — — ($2.6b) ($13.1b) ($4.1b) ($30.0b)
Purchase Of Interests In Associates — — — $97.0m $392.0m $0 $0 — — —
Purchase Of PPE — $7.6b $9.6b $8.9b $5.8b $6.3b ($12.1b) ($25.8b) ($47.2b) ($60.1b)
Purchase of intangible assets — — — ($2.3b) ($16.3b) ($1.1b) ($2.6b) ($13.1b) ($4.1b) ($30.0b)
Purchase of marketable securities — — — $0 $0 ($7.1b) ($9.6b) ($13.0b) ($19.0b) ($498.0m)
Purchase of other financial assets — — — ($350.0m) $0 ($4.0m) ($169.0m) ($271.0m) ($786.0m) ($225.0m)
Purchase of treasury shares — — — ($15.3b) ($16.9b) ($19.4b) ($24.1b) ($29.9b) ($20.2b) ($1.4b)
Repayment of borrowings — — — ($822.0m) ($950.0m) ($6.7b) ($13.6b) ($1.5b) ($6.3b) ($79.2b)
Repayments Of Borrowings Classified As Financing Activities — — — $741.0m $950.0m $6.7b $13.6b $1.5b $6.3b $79.2b
Repurchase Of Capital Stock — — — — — — ($24.1b) ($29.9b) ($20.2b) ($1.4b)
Sale Of Business — — — — — $0 — $0 $0 $1.0b
Sale Of PPE — — — — — $0 $0 — — —
Sale of marketable securities — — — $0 $0 $1.2b $6.6b $8.3b $24.4b $10.6b
Settlement for prior year's acquisition of businesses — — — — — — — $0 $0 $1.0b
Stock Based Compensation — — — — — $1.0b $1.5b $2.1b $2.3b —
Profit or Loss $37.9b $38.1b $38.6b $39.0b $42.1b $47.8b $55.5b $83.7b $101.0b $102.4b
Capital Expenditure — — — — — — ($14.8b) ($38.9b) ($51.3b) ($90.1b)
Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities $7.0m $9.0m $13.0m $4.0m $7.0m $0 $0 — — —
Purchase of property, plant and equipment — — — ($8.9b) ($5.8b) ($6.3b) ($12.1b) ($25.8b) ($47.2b) ($60.1b)
Net Investment Purchase And Sale — — — — — — ($3.1b) ($5.0b) $4.6b $10.0b
Purchase Of Investment — — — — — — ($9.7b) ($13.3b) ($19.8b) ($723.0m)
Sale Of Investment — — — — — — $6.6b $8.3b $24.4b $10.7b
Net cash flows from investing activities — — — ($11.5b) ($22.4b) ($31.6b) ($24.9b) ($43.9b) ($128.9b) ($79.2b)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $11.2b $0 $79.4b $103.9b
Long Term Debt Issuance — — — — — — $11.2b $0 $79.4b $103.9b
Net Issuance Payments Of Debt — — — — — — ($2.4b) ($1.5b) $73.1b $24.7b
Net Long Term Debt Issuance — — — — — — ($2.4b) ($1.5b) $73.1b $24.7b
Long Term Debt Payments — — — — — — ($13.6b) ($1.5b) ($6.3b) ($79.2b)
Repayment Of Debt — — — — — — ($13.6b) ($1.5b) ($6.3b) ($79.2b)
Net Common Stock Issuance — — — — — — ($24.1b) ($29.9b) ($20.2b) ($1.4b)
Common Stock Payments — — — — — — ($24.1b) ($29.9b) ($20.2b) ($1.4b)
Cash Dividends Paid — — — — — — ($25.3b) ($31.8b) ($44.1b) ($51.8b)
Dividends Paid Classified As Financing Activities $23.8b $18.8b $19.0b $19.4b $20.1b $21.5b $25.3b $31.8b $44.1b $51.8b
Dividends Paid Ordinary Shares Per Share $7.60 $7.85 $8.15 $8.35 $9.10 $10.40 $12.40 $9.40 $11.40 $11.70
Dividends Proposed Or Declared Before Financial Statements Authorised For Issue But Not Recognised As Distribution To Owners — — — $12.6b $13.5b $15.7b $18.3b $28.6b $35.1b $35.3b
Dividends Received CFI — — — — — $4.0m $0 $0 — —
Dividends Received From Associates Classified As Investing Activities $26.0m $26.0m $19.0m $20.0m $18.0m $4.0m $0 $0 — —
Dividends Recognised As Distributions To Owners Of Parent Relating To Current Year $7.6b $7.4b $7.2b $7.1b $7.6b $8.0b $9.6b $13.4b $15.6b $16.7b
Dividends Recognised As Distributions To Owners Of Parent Relating To Prior Years $16.2b $11.4b $11.8b $12.3b $12.6b $13.5b $15.7b $18.3b $28.6b $35.1b
Dividends paid $23.8b $18.8b $19.0b $19.4b $20.1b $21.5b $25.3b $31.8b $44.1b $51.8b
Net cash flows from financing activities — — — ($35.5b) ($32.2b) ($25.5b) ($51.8b) ($63.2b) $8.7b ($28.4b)
Effect Of Exchange Rate Changes — — — — — — ($238.0m) ($119.0m) $455.0m ($727.0m)
Cash and cash equivalents at the beginning of the year — — — $15.4b $12.2b $10.7b $12.7b $14.4b $15.7b $26.5b
Exchange gains/(losses) on cash and cash equivalents — — — ($7.0m) ($456.0m) $591.0m ($238.0m) ($119.0m) $455.0m ($727.0m)
Change In Cash Supplemental As Reported — — — — — — $2.2b $1.9b $808.0m $11.5b
Interest Paid Classified As Operating Activities $66.0m $87.0m $89.0m $204.0m $422.0m $261.0m $272.0m $491.0m $612.0m $3.4b
Income Taxes Paid Refund Classified As Operating Activities $2.9b $9.1b $9.6b $10.9b $10.1b $14.4b $14.5b $25.9b $29.6b $32.0b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.