ADCT
ADC Therapeutics S.A.
There isn't enough reported data to score ADCT yet.
NVO
Novo Nordisk A/S
NVO's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 3 points to 43%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
ADCT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
ADCT's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
ADCT PE Valuation
ADCT has no meaningful PE right now: it lost money over the past year.
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's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
ADCT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| -- | |
| Limited | |
| Moderate |
Analysts expect ADCT's losses to shrink, with revenue growing.
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.
ADCT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.53 | +$0.89 |
| Q2 2026 | -$0.67 | +$0.87 |
| Q1 2026 | -$1.06 | +$0.36 |
| Q4 2025 | -$1.21 | +$0.41 |
| Q3 2025 | -$1.42 | +$0.97 |
| Q2 2025 | -$1.54 | +$1.01 |
| Q1 2025 | -$1.42 | +$1.33 |
| Q4 2024 | -$1.62 | +$1.30 |
ADCT is still losing money, but far less than before: $0.53 per share over the past year, against $3.71 at its worst in late 2020.
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 ADCT on earnings quality, reporting a profit while its opponent remains loss making.
ADCT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $21.7M | +32% |
| Q2 2026 | $19.2M | +2.2% |
| Q1 2026 | $20.9M | -9.5% |
| Q4 2025 | $23.1M | +36% |
| Q3 2025 | $16.4M | -11% |
| Q2 2025 | $18.8M | +8.2% |
| Q1 2025 | $23M | +28% |
| Q4 2024 | $16.9M | +0.7% |
ADCT's revenue is recovering but still below its 2022 peak: $22M last quarter, up 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -66% | +122 points |
| Q2 2026 | -132% | +102 points |
| Q1 2026 | -121% | +2.5 points |
| Q4 2025 | -78% | +114 points |
| Q3 2025 | -189% | +4.1 points |
| Q2 2025 | -234% | -68 points |
| Q1 2025 | -124% | +63 points |
| Q4 2024 | -192% | +46 points |
ADCT's operating margin was −66% last quarter, up 122 points from the same quarter a year ago.
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 has the edge over ADCT on sales, with more consistent year-over-year improvement.
| 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 has the edge over ADCT on profitability, with a higher operating margin.
ADCT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$27.9M | +$1.8M |
| Q2 2026 | -$11.8M | +$12.3M |
| Q1 2026 | -$29.7M | +$26.9M |
| Q4 2025 | -$31.1M | -$9.2M |
| Q3 2025 | -$29.6M | -$4.4M |
| Q2 2025 | -$24.1M | +$8.8M |
| Q1 2025 | -$56.6M | -$12M |
| Q4 2024 | -$21.9M | +$11.1M |
ADCT has burned cash in almost every quarter: −$101M over the past year, against −$132M 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 has the edge over ADCT on cash generation, producing positive trailing cash flow while its opponent burns cash.
ADCT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +394K shares |
| 1 year | +14% | +19M shares |
| 3 years | +89% | +73.2M shares |
| 5 years | +103% | +78.7M shares |
| Available history | +112% | +82.2M shares |
ADCT has 155M diluted shares, up 14% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | $218,871 |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
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 ADCT 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.
ADCT Net Leverage
ADCT's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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's net debt is less than a year of its operating earnings (EBITDA).
ADCT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.2 | Neutral |
| Stochastic | 61.0 | Neutral |
ADCT's weekly RSI is 44 (neutral) and its Stochastic is 61 (neutral).
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).
ADCT PE vs Healthcare Sector
ADCT has no meaningful PE right now: it lost money over the past year.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO is trading at 10x earnings, a 60% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
ADCT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.44 | 2.1% below |
| 20 week MA | $1.26 | 12% above |
| 50 week MA | $2.55 | 45% below |
| 100 week MA | $2.60 | 46% below |
| 200 week MA | $2.64 | 47% below |
ADCT's trend is mixed: it's above one of its five weekly moving averages, and 47% below its 200-week average.
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.
ADCT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.7 | $37.0 | +25% |
| 2021 | $37.0 | $21.3 | -43% |
| 2022 | $21.3 | $3.52 | -83% |
| 2023 | $3.52 | $1.66 | -53% |
| 2024 | $1.66 | $2.03 | +22% |
| 2025 | $2.03 | $3.51 | +73% |
| 2026 YTD | $3.51 | $1.41 | -60% |
ADCT has finished lower in three of the last six years. It's down 60% so far in 2026.
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 the edge over ADCT on returns for 2026, with the stronger performance.