ADGM
Adagio Medical Holdings, Inc.
There isn't enough reported data to score ADGM 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.
ADGM Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Unavailable |
ADGM's profitability is currently weak. There isn't enough data to rate its revenue, cash flow and 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.
ADGM PE Valuation
ADGM 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.
ADGM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| -- | |
| -- | |
| Limited | |
| High |
Analysts expect ADGM's earnings, revenue and profitability to hold roughly steady.
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.
ADGM Earnings Per Share
ADGM and NVO do not have enough comparable growth data to identify a winner.
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's earnings per share have climbed steadily: $3.89 over the past year, up 4.9% from the year before, and higher year over year every quarter since late 2020.
ADGM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2024 | $137K | +76% |
| Q3 2024 | $132K | +222% |
| Q1 2024 | $26K | -57% |
NVO has the stronger quarterly revenue trend. Revenue is down 100% for ADGM versus up 2.1% for NVO.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2024 | -6462% | +375 points |
| Q3 2024 | -3352% | +18797 points |
| Q1 2024 | -33904% | -22814 points |
| Q4 2023 | -6837% | N/A |
| Q3 2023 | -22149% | N/A |
| Q2 2023 | -5681% | N/A |
| Q1 2023 | -11090% | N/A |
ADGM's operating margin was −6462% last quarter, up 15687 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'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.
ADGM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$5.3M | -$600K |
| Q1 2026 | -$4.1M | +$3.4M |
| Q4 2025 | -$3.6M | +$4.2M |
| Q3 2025 | -$3.5M | +$3.4M |
| Q1 2025 | -$7.5M | -$7M |
| Q4 2024 | -$7.8M | -$702K |
| Q3 2024 | -$6.9M | -$419K |
| Q1 2024 | -$511.7K | +$6M |
ADGM has burned cash in almost every quarter: −$17M over the past year, against −$27M 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 ADGM on cash generation, producing positive trailing cash flow while its opponent burns cash.
ADGM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +44% | +228K shares |
ADGM has 740,349 diluted shares, up 44% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q1 2024 | $4.4M |
| Q4 2023 | — |
| Q3 2023 | $7,000 |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 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 ADGM 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.
ADGM Net Leverage
ADGM'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).
ADGM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 26.1 | Oversold |
| Stochastic | 1.0 | Oversold |
ADGM's weekly RSI is 26 (oversold) and its Stochastic is 1 (oversold).
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).
ADGM PE vs Healthcare Sector
ADGM 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.
ADGM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.33 | 45% below |
| 20 week MA | $11.4 | 84% below |
| 50 week MA | $22.7 | 92% below |
| 100 week MA | $30.3 | 94% below |
NVO has stronger trend alignment. ADGM is above 0 of 4 weekly averages versus NVO above 1 of 5.
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.
ADGM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $245.1 | $31.5 | -87% |
| 2025 | $31.5 | $31.2 | -1% |
| 2026 YTD | $31.2 | $1.82 | -94% |
ADGM has finished every year since 2024 lower, and it's down 94% 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 ADGM on returns for 2026, with the stronger performance.