ALKS
Alkermes plc
ALKS has the edge over NVO overall, supported by lower modeled downside.
NVO
Novo Nordisk A/S
NVO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ALKS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Stable | |
| Weak |
ALKS's revenue is currently healthy, and its cash flow is stable, but its profitability and balance sheet are under pressure.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
ALKS PE Valuation
ALKS 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.
ALKS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Stable | |
| Limited | |
| Low |
ALKS 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.
ALKS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.02 | -101% |
| Q2 2026 | $0.38 | -82% |
| Q1 2026 | $0.90 | -57% |
| Q4 2025 | $1.43 | -34% |
| Q3 2025 | $2.02 | +2% |
| Q2 2025 | $2.08 | +22% |
| Q1 2025 | $2.09 | -18% |
| Q4 2024 | $2.17 | +3.3% |
ALKS has swung to a loss: it lost $0.02 per share over the past year, after a profit 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 ALKS on earnings quality, reporting a profit while its opponent remains loss making.
ALKS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $480.1M | +22% |
| Q2 2026 | $496M | +27% |
| Q1 2026 | $392.9M | +28% |
| Q4 2025 | $384.5M | -11% |
| Q3 2025 | $394.2M | +4.2% |
| Q2 2025 | $390.7M | -2.1% |
| Q1 2025 | $306.5M | -13% |
| Q4 2024 | $430M | +14% |
ALKS's revenue is recovering but still below its 2023 peak: $480M last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.5% | -15 points |
| Q2 2026 | 3.7% | -20 points |
| Q1 2026 | -12% | -17 points |
| Q4 2025 | 15% | -23 points |
| Q3 2025 | 23% | -5.1 points |
| Q2 2025 | 24% | -3.7 points |
| Q1 2025 | 4.5% | -7.9 points |
| Q4 2024 | 38% | -9.5 points |
ALKS's operating margin was 7.5% last quarter, down 15 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 ALKS 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 ALKS on profitability, with a higher operating margin.
ALKS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $90.1M | +6.8% |
| Q2 2026 | $137M | -0.1% |
| Q1 2026 | -$169.8M | -291% |
| Q4 2025 | $170.1M | -5.8% |
| Q3 2025 | $84.4M | +15% |
| Q2 2025 | $137.2M | -1.2% |
| Q1 2025 | $88.7M | +595% |
| Q4 2024 | $180.6M | +100% |
ALKS still generates free cash flow, though less than at its 2023 peak: $227M 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 has the edge over ALKS on cash flow, with more consistent year-over-year improvement.
ALKS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.7% | +2.9M shares |
| 1 year | +4.7% | +7.9M shares |
| 3 years | +2.6% | +4.5M shares |
| 5 years | +9.2% | +14.9M shares |
| Available history | +12% | +19.3M shares |
ALKS has 176M diluted shares, up 4.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $27.7M |
| Q4 2024 | $1,000 |
| Q3 2024 | $115.6M |
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 ALKS 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.
ALKS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.0x | High |
| Q2 2026 | 5.5x | High |
| Q1 2026 | 5.0x | High |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q3 2024 | -0.2x | Net Cash |
ALKS's net debt is about 6.0 years of its operating earnings (EBITDA), after holding more cash than debt 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 ALKS on leverage, with a lower net debt burden relative to earnings.
ALKS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.9 | Neutral |
| Stochastic | 53.5 | Neutral |
ALKS's weekly RSI is 59 (neutral) and its Stochastic is 53 (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).
ALKS PE vs Healthcare Sector
| Metric | ALKS | Sector median | Relative |
|---|---|---|---|
| PE | 119x | 26x | 362% above |
| PE % | 96 | 29 | 67 pts above |
ALKS 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 has the edge over ALKS on valuation relative to its sector.
ALKS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $43.3 | 8.5% above |
| 20 week MA | $46.8 | 0.3% above |
| 50 week MA | $39.2 | 20% above |
| 100 week MA | $34.7 | 35% above |
| 200 week MA | $31.2 | 51% above |
ALKS 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.
ALKS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.4 | $21.5 | +5% |
| 2021 | $21.5 | $24.1 | +12% |
| 2022 | $24.1 | $25.5 | +5.8% |
| 2023 | $25.5 | $27.7 | +8.8% |
| 2024 | $27.7 | $29.6 | +6.5% |
| 2025 | $29.6 | $28.5 | -3.6% |
| 2026 YTD | $28.5 | $47.0 | +65% |
ALKS 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.