ANIP
ANI Pharmaceuticals, Inc.
ANIP has the edge over NVO overall, supported by stronger valuation and lower modeled downside.
NVO
Novo Nordisk A/S
NVO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ANIP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Unavailable | |
| Strong |
ANIP's profitability and balance sheet are currently healthy, and its revenue is stable. There isn't enough data to rate its cash flow.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
ANIP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.5x | $71.06 | — |
| Current | 14x | $71.06 | — |
| Cheap | 21x | $103 | +45% |
| Fair | 46x | $228 | +221% |
| Expensive | 81x | $406 | +471% |
Historical ranges are pointers, not guarantees.
ANIP has the edge over NVO in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
ANIP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
ANIP has the edge over NVO on the outlook, with more favorable earnings 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.
ANIP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.52 | +91% |
| Q3 2026 | $4.98 | +188% |
| Q2 2026 | $4.60 | +$5.27 |
| Q1 2026 | $3.91 | +$5.08 |
| Q4 2025 | $3.32 | +$4.36 |
| Q3 2025 | $1.73 | +$2.27 |
| Q2 2025 | -$0.67 | -157% |
| Q1 2025 | -$1.17 | -173% |
| Q4 2024 | -$1.04 | -222% |
ANIP earned $4.98 per share over the past year, up 188% from 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 ANIP on earnings, with more consistent year-over-year improvement.
ANIP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2024 | $148.3M | +13% |
| Q2 2024 | $138M | +18% |
| Q1 2024 | $137.4M | +29% |
| Q4 2023 | $131.7M | +40% |
| Q3 2023 | $131.8M | +57% |
| Q2 2023 | $116.5M | +58% |
| Q1 2023 | $106.8M | +66% |
| Q4 2022 | $94.2M | +55% |
ANIP has the stronger quarterly revenue trend. Revenue is up 13% for ANIP versus up 2.1% for NVO.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2024 | -14% | -27 points |
| Q2 2024 | 3.7% | -6.9 points |
| Q1 2024 | 15% | +5.5 points |
| Q4 2023 | 5.1% | +3.2 points |
| Q3 2023 | 14% | +20 points |
| Q2 2023 | 11% | +28 points |
| Q1 2023 | 9.3% | +39 points |
| Q4 2022 | 1.9% | +41 points |
ANIP's operating margin was −14% last quarter, down 27 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.
ANIP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $70.3M | +85% |
| Q2 2026 | $53.6M | -25% |
| Q1 2026 | $52.3M | +61% |
| Q4 2025 | $29.1M | +116% |
| Q3 2025 | $38M | +395% |
| Q2 2025 | $71.8M | +454% |
| Q1 2025 | $32.5M | +138% |
| Q4 2024 | $13.5M | -68% |
ANIP has the edge over NVO on cash flow, with more consistent year-over-year improvement.
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.
ANIP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -240K shares |
| 1 year | +2.8% | +582K shares |
| 3 years | +13% | +2.5M shares |
| 5 years | +79% | +9.6M shares |
| Available history | +80% | +9.6M shares |
ANIP has 22M diluted shares, up 2.8% from a year ago, despite $35M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $13.6M |
| Q2 2026 | $813,000 |
| Q1 2026 | $19.8M |
| Q4 2025 | $611,000 |
| Q3 2025 | $1M |
| Q2 2025 | $551,000 |
| Q1 2025 | $10M |
| Q4 2024 | $318,000 |
ANIP spent $35M buying back its own shares over the past year, up 192% 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 ANIP 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.
ANIP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 2.0x | Moderate |
| Q4 2024 | 2.5x | Moderate |
ANIP 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).
ANIP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.6 | Neutral |
| Stochastic | 17.1 | Oversold |
ANIP's weekly RSI is 44 (neutral) and its Stochastic is 17 (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).
ANIP PE vs Healthcare Sector
| Metric | ANIP | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 26x | 45% below |
| PE % | 1 | 29 | 28 pts below |
ANIP is trading at 14x earnings, a 45% discount to 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 ANIP on valuation relative to its sector.
ANIP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $71.9 | 1.2% below |
| 20 week MA | $75.0 | 5.3% below |
| 50 week MA | $77.5 | 8.3% below |
| 100 week MA | $74.7 | 4.9% below |
| 200 week MA | $65.2 | 8.9% above |
ANIP has fallen below most of its moving averages, though it's still 8.9% above 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.
ANIP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.3 | $28.0 | -54% |
| 2021 | $28.0 | $50.9 | +82% |
| 2022 | $50.9 | $39.5 | -22% |
| 2023 | $39.5 | $55.1 | +40% |
| 2024 | $55.1 | $54.4 | -1.3% |
| 2025 | $54.4 | $82.4 | +51% |
| 2026 YTD | $82.4 | $71.1 | -14% |
ANIP 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.