As of Q4'25, NVO's Operating Cash Flow stands at USD 9.49B, while Free Cash Flow is USD 4.03B. This marks a significant decrease from the previous quarter, with both metrics dropping sharply from their Q3'25 values of USD 46.11B and USD 32.48B, respectively. Over the period from Q1'23 to Q4'25, both Operating and Free Cash Flow have exhibited considerable volatility, with notable peaks in Q2'24 (Operating Cash Flow: USD 50.5B, Free Cash Flow: USD 40.03B) and sharp declines such as the negative Free Cash Flow in Q4'24 (-USD 9.15B). The overall trend is characterized by large quarter-to-quarter fluctuations rather than a consistent upward or downward movement, indicating periods of both strong cash generation and significant outflows.