No Sacrifice, No Victory is the seventh studio album by Swedish power metal band HammerFall, released 20 February 2009. It was partly recorded at PAMA Studios, Torsås and partly at Andy La Rocque's Sonic Train Studios in Varberg. This is the first album featuring the band's new lead guitarist Pontus Norgren, the return of bassist Fredrik Larsson who played bass from 1994 to 1997, as well as the first to have the band tuning all of their guitars in all songs to D tuning as opposed to the E-flat tuning seen on most songs from all previous albums.

HammerFall is a Swedish power metal band from Gothenburg. The band was formed in 1993 by ex-Ceremonial Oath guitarist Oscar Dronjak.