As of Q4'25, NVO's latest data shows ROE at 13.1%, ROA at 4.7%, and ROIC at 6.5%. These figures represent the most recent quarterly performance ending December 31, 2025, reflecting a continued downward trend from earlier periods. From Q1'23 to Q4'25, all three metrics—ROE, ROA, and ROIC—exhibit significant declines. ROE peaked at 25.7% in Q1'24 before steadily dropping to 13.1% by Q4'25, while ROA decreased from a high of 8.5% in Q1'24 to 4.7% in the latest quarter. Similarly, ROIC fell from 18.0% in Q1'24 to 6.5% in Q4'25. This consistent downward trend across all return metrics suggests deteriorating operational efficiency and profitability over the covered period.