NVO EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
NVO's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
NVO EV/EBITDA by year
Yearly range of NVO’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 6.3 to 36.8, averaging 18.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 6.3 | 8.1 | 11.7 | 7.4 |
| 2025 | 8.0 | 12.2 | 19.2 | 9.5 |
| 2024 | 18.3 | 29.8 | 36.8 | 18.3 |
| 2023 | 26.6 | 30.8 | 35.6 | 32.5 |
| 2022 | 21.4 | 24.7 | 28.0 | 26.6 |
| 2021 | 16.3 | 21.2 | 27.9 | 26.0 |
| 2020 | 15.0 | 17.6 | 19.3 | 16.7 |
| 2019 | 13.9 | 15.1 | 16.8 | 16.8 |
| 2018 | 12.5 | 14.5 | 17.5 | 13.8 |
| 2017 | 10.1 | 12.5 | 15.5 | 15.5 |
| 2016 | 10.9 | 13.1 | 16.4 | 12.4 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is NVO EV/EBITDA High or Low Right Now?
Novo Nordisk A/S's EV/EBITDA is currently 7.4, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for NVO is approximately 16.7. See all NVO valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.