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Danish biosolutions company making industrial enzymes and microbial cultures for food, agriculture and household products.
Danish biosolutions company making industrial enzymes and microbial cultures for food, agriculture and household products.
Sells enzymes and microbial cultures that customers build into their own recipes and processes, such as detergent formulas and brewing, so products are specified in and rarely switched. Novo Holdings, owned by the Novo Nordisk Foundation, is the controlling shareholder. In 2025 it bought its partner's half of an animal-feed enzyme venture.
In one line: A biology-based DuPont/Ecolab hybrid.
Moat: wide (IP / patents, process know-how, scale). Leading global enzyme/microbial technology platform from the Novozymes-Chr. Hansen merger.
Headquarters: Kongens Lyngby, Denmark · Founded: 2024 · Employees: 11,641
Size Novonesis A/S (NSIS-B.CO) is a Denmark Materials company (Chemicals: Specialty) with a market value of $32.1B, the 5th largest of 59 Denmark companies the cockpit tracks. Shares closed at DKK 460.00 on 6 Nov 2026.
Performance Over six months the shares gained 21.5%, against -14.7% for the median peer and +8.8% for the Denmark market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 5.0% over the last twelve months (peer median +2.8%); the operating margin is 21.0% (peer median 13.0%).
Valuation It trades at 30.0× forward earnings against a peer median of 17.2× (4th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points below its cost of capital (5.3% WACC).
Credit Novonesis A/S has 3 bonds outstanding ($1.89B), rated A- by the agencies and trading like A at a weighted spread of 95 bp.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | DKK 32.1B | DKK 31.0B | DKK 28.6B | DKK 17.9B | DKK 17.6B |
| Revenue growth | — | +9% | +60% | +2% | — |
| Gross profit | DKK 17.6B | DKK 14.8B | DKK 12.1B | DKK 9.31B | DKK 9.00B |
| EBITDA | DKK 11.5B | DKK 10.9B | DKK 8.80B | DKK 5.86B | DKK 5.81B |
| Net income | DKK 4.72B | DKK 4.36B | DKK 2.28B | DKK 3.02B | DKK 3.68B |
| Free cash flow | DKK 6.34B | DKK 6.06B | DKK 5.08B | DKK 2.29B | DKK 1.25B |
| Capital expenditure | DKK 4.10B | DKK 3.51B | DKK 2.68B | DKK 2.06B | DKK 2.89B |
| Total debt | DKK 22.9B | DKK 22.4B | DKK 13.4B | DKK 7.78B | DKK 6.95B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Novonesis A/S NSIS-B.CO | $32.1B | +22% | +5% | 21% | 30.0× | 13.2% |
| DSM-Firmenich DSFIR.AS | $29.5B | +62% | -45% | 8% | 30.1× | 24.3% |
| International Flavors & Fragrances IFF | $20.7B | +2% | -17% | 11% | 23.4× | 17.9% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NSIS-B.CO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.5% | +0.1% | 3rd highest of 21 |
| 6-month return | +21.5% | -14.7% | 4th highest of 21 |
| Distance from 52-week high | -5.1% | -28.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +5.0% | +2.8% | 9th highest of 21 |
| Operating margin | 21.0% | 13.0% | 7th highest of 21 |
| Forward P/E | 30.0× | 17.2× | 4th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 13.2% | 7.8% | 4th most demanding of 16 |
| Growth delivered (Del g) | +17.2% | +7.0% | 4th highest of 16 |
| Hurdle (Req g minus delivered) | -4.0 pp | +0.5 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | -0.3 pp | +0.6 pp | 11th highest of 21 |
| EV / EBITDA | 20.5× | 10.0× | 3rd most expensive of 14 |
| Net debt / EBITDA | 1.8× | 2.1× | 6th least indebted of 16 |
| Bond spread | 95 bp | 91 bp | 5th widest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Novonesis A/S NSIS-B.CO | Denmark | $32.1B | +22% | +5% | 21% | 30.0× | 13.2% | +17.2% |
| Ems-chemie EMSN.SW | Switzerland | $24.3B | +28% | -3% | 30% | 39.4× | 8.6% | +1.6% |
| Ningxia Baofeng Energy 600989.SS | China | $23.4B | -31% | +35% | 35% | 8.4× | -7.8% | +24.8% |
| Dow DOW | United States | $22.7B | -14% | +4% | 5% | 14.8× | 4.3% | +0.7% |
| Basf BAS.DE | Germany | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% | +0.2% |
| LyondellBasell LYB | United States | $19.6B | -15% | -2% | 10% | 9.5× | -10.3% | +1.7% |
| China Northern Rare Earth (Group) High-Tech 600111.SS | China | $19.6B | -31% | +29% | 11% | 28.5× | 24.6% | +14.2% |
| Hengli Petrochemical 600346.SS | China | $17.5B | -25% | -8% | 8% | 9.2× | -8.0% | +5.1% |
| Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B SQM | United States | $16.0B | -37% | +59% | 39% | 7.3× | -4.8% | +20.1% |
| Shin-etsu Chemical 4063.T | Japan | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% | +11.4% |
| Nippon Sanso 4091.T | Japan | $15.3B | +1% | +10% | 15% | 16.9× | 7.8% | +10.7% |
| Air Products APD | United States | $67.9B | +4% | +5% | 24% | 21.2× | n/a | n/a |
| Symrise SY1.DE | Germany | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% | +7.0% |
| Covestro 1COV.DE | Germany | $14.0B | 0% | -9% | -3% | 200.3× | n/a | n/a |
| Zhejiang Juhua 600160.SS | China | $13.1B | -12% | -5% | 20% | 18.2× | n/a | n/a |
| Lgchem 051910.KS | South Korea | $12.6B | -42% | 0% | 0% | n/a | n/a | n/a |
| Resonac 4004.T | Japan | $12.6B | -26% | +1% | 8% | 18.0× | 26.7% | +6.7% |
| Satellite Chemical 002648.SZ | China | $12.4B | -17% | +20% | 23% | 7.2× | -13.2% | +33.8% |
| Ecolab ECL | United States | $84.3B | +19% | +9% | 18% | 33.6× | 19.7% | +6.4% |
| Formosa Plastics 1301.TW | Taiwan | $12.1B | +22% | -11% | -2% | 21.4× | n/a | n/a |
| Albemarle ALB | United States | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% | +10.4% |
Novonesis A/S has 3 bonds outstanding with $1.89B face value. The agencies rate it A-; its bonds trade like A. Weighted yield 4.06%, a spread of 95 bp over government bonds.