• Novo Nordisk average price to free cash flow ratio for 2023 was 34.73, a 19.18% increase from 2022.
• Novo Nordisk average price to free cash flow ratio for 2022 was 29.14, a 14.23% increase from 2021.
• Novo Nordisk average price to free cash flow ratio for 2021 was 25.51, a 21.48% increase from 2020.

Price to free cash flow ratio can be defined as