ABBV
AbbVie Inc.
ABBV has the edge over NVO overall, supported by stronger fundamentals and lower modeled downside.
NVO
Novo Nordisk A/S
NVO offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
ABBV Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Stable |
ABBV's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
ABBV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $294 | — |
| Cheap | 21x | $121 | -59% |
| Fair | 38x | $220 | -25% |
| Current | 51x | $294 | — |
| Expensive | 81x | $473 | +61% |
Historical ranges are pointers, not guarantees.
ABBV's PE is 51x, but its earnings don't support one, so it isn't a reliable read right now.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO has the edge over ABBV in the historical PE scenario, which offers more potential upside but is not a forecast.
ABBV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
ABBV has the edge over NVO on the outlook, with more favorable earnings and profitability expectations.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
ABBV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.81 | +172% |
| Q3 2026 | $5.81 | +340% |
| Q2 2026 | $3.54 | +69% |
| Q1 2026 | $2.03 | -14% |
| Q4 2025 | $2.36 | -1.7% |
| Q3 2025 | $1.32 | -54% |
| Q2 2025 | $2.10 | -30% |
| Q1 2025 | $2.35 | -30% |
| Q4 2024 | $2.40 | -12% |
ABBV earned $5.81 per share over the past year, about four times what it earned the year before.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over ABBV on earnings, with more consistent year-over-year improvement.
ABBV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $17.4B | +10% |
| Q2 2026 | $17B | +10% |
| Q1 2026 | $15B | +12% |
| Q4 2025 | $16.6B | +10% |
| Q3 2025 | $15.8B | +9.1% |
| Q2 2025 | $15.4B | +6.6% |
| Q1 2025 | $13.3B | +8.4% |
| Q4 2024 | $15.1B | +5.6% |
ABBV's revenue has grown year over year for 11 quarters in a row: $17.4B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 36% | +24 points |
| Q2 2026 | 38% | +6.1 points |
| Q1 2026 | 27% | -1.4 points |
| Q4 2025 | 27% | +37 points |
| Q3 2025 | 12% | -14 points |
| Q2 2025 | 32% | +4.1 points |
| Q1 2025 | 28% | +5.3 points |
| Q4 2024 | -9.9% | -32 points |
ABBV has the edge over NVO on profitability, with a higher operating margin.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO's revenue is growing: $11.7B last quarter, up 2.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
ABBV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $7.3B | +10% |
| Q2 2026 | $3.1B | -36% |
| Q1 2026 | $3.6B | +155% |
| Q4 2025 | $4.9B | -28% |
| Q3 2025 | $6.6B | +28% |
| Q2 2025 | $4.9B | +141% |
| Q1 2025 | $1.4B | -64% |
| Q4 2024 | $6.8B | +49% |
ABBV's free cash flow has been positive every quarter for seven years: $18.9B over the past year, down 4.1% from the year before.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
ABBV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +1M shares |
| 1 year | 0% | -- |
| 3 years | +0.1% | +1M shares |
| 5 years | -0.3% | -5M shares |
| Available history | +19% | +288M shares |
ABBV has 1.8B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5M |
| Q2 2026 | $9M |
| Q1 2026 | $1.5B |
| Q4 2025 | $3M |
| Q3 2025 | $4M |
| Q2 2025 | $12M |
| Q1 2025 | $961M |
| Q4 2024 | $358M |
ABBV spent $1.5B buying back its own shares over the past year, up 13% from the year before.
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has the edge over ABBV on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
ABBV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.4x | Moderate |
| Q2 2026 | 2.6x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 3.6x | Elevated |
| Q2 2025 | 3.3x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.5x | Elevated |
ABBV's net debt is about 2.4 years of its operating earnings (EBITDA), down from 3.6 years a year ago.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO has the edge over ABBV on leverage, with a lower net debt burden relative to earnings.
ABBV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.4 | Overbought |
| Stochastic | 86.7 | Overbought |
ABBV's weekly RSI is 71 (overbought) and its Stochastic is 87 (overbought).
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (neutral).
ABBV PE vs Healthcare Sector
| Metric | ABBV | Sector median | Relative |
|---|---|---|---|
| PE | 51x | 26x | 96% above |
| PE % | 64 | 29 | 35 pts above |
ABBV is trading at 51x earnings, a 96% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO has the edge over ABBV on valuation relative to its sector.
ABBV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $281.9 | 4.4% above |
| 20 week MA | $266.1 | 11% above |
| 50 week MA | $238.2 | 24% above |
| 100 week MA | $219.0 | 34% above |
| 200 week MA | $190.8 | 54% above |
ABBV has the edge over NVO on trend strength, trading above more of its moving averages.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
ABBV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $89.2 | $103.3 | +16% |
| 2021 | $103.3 | $133.1 | +29% |
| 2022 | $133.1 | $163.1 | +23% |
| 2023 | $163.1 | $155.0 | -5% |
| 2024 | $155.0 | $178.0 | +15% |
| 2025 | $178.0 | $230.0 | +29% |
| 2026 YTD | $230.0 | $294.5 | +28% |
ABBV has the edge over NVO on returns for 2026, with the stronger performance.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.