ALGN
Align Technology, Inc.
ALGN has the edge over NVO overall, supported by stronger valuation and stronger fundamentals.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
ALGN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
ALGN's profitability, cash flow and balance sheet are currently healthy, and its revenue 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.
ALGN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $167 | — |
| Current | 24x | $167 | — |
| Cheap | 25x | $173 | +3.5% |
| Fair | 35x | $242 | +45% |
| Expensive | 69x | $470 | +182% |
Historical ranges are pointers, not guarantees.
ALGN's PE is in its cheap range at 24x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
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 ALGN in the historical PE scenario, which offers more potential upside but is not a forecast.
ALGN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect ALGN's earnings to grow and its profitability to improve, with its revenue holding 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.
ALGN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.89 | +73% |
| Q3 2026 | $6.86 | +33% |
| Q2 2026 | $5.74 | -3.4% |
| Q1 2026 | $5.95 | +8.2% |
| Q4 2025 | $5.65 | +0.5% |
| Q3 2025 | $5.17 | -12% |
| Q2 2025 | $5.94 | +1% |
| Q1 2025 | $5.50 | -9.2% |
| Q4 2024 | $5.62 | -3.3% |
ALGN's earnings per share have fallen from their peak: $6.86 over the past year, against $23.85 in early 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 ALGN on earnings, with more consistent year-over-year improvement.
ALGN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1B | +1.9% |
| Q2 2026 | $1.1B | +4.3% |
| Q1 2026 | $1B | +6.2% |
| Q4 2025 | $1B | +5.3% |
| Q3 2025 | $995.7M | +1.8% |
| Q2 2025 | $1B | -1.6% |
| Q1 2025 | $979.3M | -1.8% |
| Q4 2024 | $995.2M | +4% |
ALGN's revenue has grown year over year for five quarters in a row: $1B last quarter, up 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +7 points |
| Q2 2026 | 15% | -1.5 points |
| Q1 2026 | 14% | +0.3 points |
| Q4 2025 | 15% | +0.3 points |
| Q3 2025 | 9.7% | -6.9 points |
| Q2 2025 | 16% | +1.8 points |
| Q1 2025 | 13% | -2.1 points |
| Q4 2024 | 14% | -3.4 points |
ALGN's operating margin was 17% last quarter, up 7 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 ALGN 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 ALGN on profitability, with a higher operating margin.
ALGN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $137.9M | -18% |
| Q2 2026 | $157.1M | +47% |
| Q1 2026 | $120.3M | +339% |
| Q4 2025 | $187.3M | -29% |
| Q3 2025 | $169M | -28% |
| Q2 2025 | $107.2M | +0.7% |
| Q1 2025 | $27.4M | +42% |
| Q4 2024 | $263.1M | +1851% |
ALGN still generates free cash flow, though less than at its 2020 peak: $603M over the past year.
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.
ALGN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -505K shares |
| 1 year | -1.9% | -1.4M shares |
| 3 years | -7.6% | -5.8M shares |
| 5 years | -11% | -8.5M shares |
| Available history | -11% | -9.1M shares |
ALGN has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $103.1M |
| Q2 2026 | $66.9M |
| Q1 2026 | $31.2M |
| Q4 2025 | $97.2M |
| Q3 2025 | $71.6M |
| Q2 2025 | $96M |
| Q1 2025 | $201.1M |
| Q4 2024 | $202.9M |
ALGN spent $298M buying back its own shares over the past year, down 48% 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 4.4B diluted shares, about the same as a year ago.
| 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.
ALGN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.2x | Net Cash |
| Q1 2025 | -1.2x | Net Cash |
| Q4 2024 | -1.4x | Net Cash |
ALGN has the edge over NVO on leverage, with a lower net debt burden relative to earnings.
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).
ALGN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.6 | Neutral |
| Stochastic | 50.8 | Neutral |
ALGN's weekly RSI is 54 (neutral) and its Stochastic is 51 (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).
ALGN PE vs Healthcare Sector
| Metric | ALGN | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 26x | 5.8% below |
| PE % | 16 | 29 | 13 pts below |
ALGN is trading at 24x earnings, in line with the Healthcare sector's median of 26x.
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 ALGN on valuation relative to its sector.
ALGN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $152.2 | 9.7% above |
| 20 week MA | $161.4 | 3.5% above |
| 50 week MA | $168.0 | 0.6% below |
| 100 week MA | $169.4 | 1.4% below |
| 200 week MA | $225.1 | 26% below |
ALGN 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.
ALGN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $277.6 | $528.0 | +90% |
| 2021 | $528.0 | $654.0 | +24% |
| 2022 | $654.0 | $203.7 | -69% |
| 2023 | $203.7 | $274.0 | +35% |
| 2024 | $274.0 | $211.4 | -23% |
| 2025 | $211.4 | $158.4 | -25% |
| 2026 YTD | $158.4 | $167.0 | +5.4% |
ALGN 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.