Earnings preview · NOVO-B.CO
Novo Nordisk earnings preview (November 4): what analysts expect
Novo Nordisk A/S reports its Jul-Sep 2026 quarter on Wednesday, November 4. Here is what the market expects and how it gets there, in charts.
InbestPlanners · Updated Oct 30, 2026 · 3 min read
Wednesday, November 4
Results day · call at 1:00 PM Madrid time · confirmed date
In 30 seconds
- Expected earnings per share: DKK 4.89 (+8.8% on the same quarter a year ago).
- Expected sales: DKK 73.7B (-1.7% year on year).
- It beat the earnings estimate in 3 of its last 4 quarters.
- The share arrives down 12.1% over three months and down 13.6% over a year.
Expected EPS
DKK 4.89
+8.8% vs. a year ago
Expected sales
DKK 73.7B
-1.7% y/y
Beat estimates
3 / 4
last quarters
Share, 12 months
-13.6%
Close DKK 266.10
Earnings per share: expected against reported
Every quarter analysts publish how much they think Novo Nordisk will earn per share. The grey bar is their estimate; the coloured one, what the company reported. On the right, what they expect now (9 analysts), with the lowest and highest estimate.
Jul-Sep
2025
Miss
Oct-Dec
2025
Beat
Jan-Mar
2026
Beat
Apr-Jun
2026
Beat
Jul-Sep
2026
Now
In the last 4 quarters it beat the estimate 3 times. On average, reported earnings came in 10.4% above the estimate.
Sales and margins
Sales each quarter, in billions of DKK; the dotted bar is what is expected now: DKK 73.7B, against DKK 75.0B a year earlier.
Apr-Jun
2025
Jul-Sep
2025
Oct-Dec
2025
Jan-Mar
2026
Apr-Jun
2026
Jul-Sep
2026
| Quarter | Gross margin | Operating margin | Net income |
|---|---|---|---|
| Apr-Jun 2025 | 83.3% | 43.5% | DKK 26.5B |
| Jul-Sep 2025 | 76.1% | 31.6% | DKK 20.0B |
| Oct-Dec 2025 | 80.9% | 40.1% | DKK 26.9B |
| Jan-Mar 2026 | 86.0% | 61.6% | DKK 48.6B |
| Apr-Jun 2026 | 78.2% | 34.5% | DKK 21.0B |
What to watch on November 4
- 01
Earnings per share
The benchmark is DKK 4.89. Above it, the market reads "beat".
- 02
Sales
DKK 73.7B expected. Profit can beat through cuts; sales tell whether the business grows.
- 03
Gross margin
Last quarter it was 78.2%. If it falls, it sells cheaper or produces at a higher cost.
Frequently asked questions
When does Novo Nordisk report earnings?
Novo Nordisk reports its Jul-Sep 2026 quarter on Wednesday, November 4. The analyst call is at 1:00 PM Madrid time.
What EPS do analysts expect from Novo Nordisk?
The consensus of 9 analysts is DKK 4.89 per share, with estimates from DKK 4.60 to DKK 5.34. A year ago it was DKK 4.50.
What sales are expected from Novo Nordisk?
Analysts expect sales of DKK 73.7B, against DKK 75.0B a year ago.
Does Novo Nordisk usually beat estimates?
In the last 4 quarters it beat the EPS estimate 3 times; on average reported earnings came in 10.4% above the estimate. Having done it before says nothing about this time.
Information, not investment advice. Figures are the data provider's (analyst consensus and accounts published by Novo Nordisk A/S) as of Oct 30, 2026; EPS is the one analysts compare and may differ from reported GAAP figures. Quarters are calendar quarters (Jul-Sep 2026), whatever the company's fiscal numbering. Past performance does not guarantee future results.