ARGX
argenx SE
There isn't enough reported data to score ARGX 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.
ARGX Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Under pressure | |
| Unavailable | |
| Unavailable |
ARGX's profitability is currently under pressure. 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.
ARGX PE Valuation
ARGX 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.
ARGX Forward outlook
There aren't enough analyst estimates for ARGX to show an outlook.
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.
ARGX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2021 | -$7.99 | +$4.95 |
| Q2 2021 | -$6.52 | +$2.10 |
| Q4 2020 | -$12.94 | -$8.25 |
| Q2 2020 | -$8.62 | -$5.78 |
| Q4 2019 | -$4.69 | -$2.48 |
| Q4 2018 | -$2.21 | -$0.94 |
ARGX lost $7.99 per share over the past year, a bigger loss than 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 ARGX in the latest year-over-year earnings comparison.
ARGX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2021 | $497.3M | +3089% |
| Q2 2021 | $470.4M | +1791% |
| Q4 2020 | $15.6M | -47% |
| Q2 2020 | $24.9M | -49% |
| Q4 2019 | $29.2M | +635% |
| Q2 2019 | $48.4M | +143% |
| Q4 2018 | $4M | -90% |
| Q4 2017 | $40.5M | +275% |
ARGX has the edge over NVO in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2021 | -70% | +403 points |
| Q2 2021 | 20% | +145 points |
| Q4 2020 | -1541% | +39 points |
| Q2 2020 | -900% | -758 points |
| Q4 2019 | -473% | -410 points |
| Q2 2019 | -125% | +20 points |
| Q4 2018 | -1581% | -1475 points |
| Q2 2018 | -142% | -4.6 points |
ARGX's operating margin was −70% last quarter, up 403 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.
ARGX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2021 | -$610.4M | -$376.4M |
| Q2 2021 | -$227.5M | -$75.6M |
| Q4 2020 | -$234M | -$128.8M |
| Q2 2020 | -$151.8M | -160% |
| Q4 2019 | -$105.2M | -$75.7M |
| Q2 2019 | $253M | +$283.9M |
| Q4 2018 | -$29.5M | +$11.5M |
| Q4 2017 | -$41M | -$28.2M |
ARGX has burned cash in most quarters: −$1.2B over the past year, against $87M 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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
ARGX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +437K shares |
| 1 year | +32% | +12.5M shares |
| 3 years | +225% | +35.4M shares |
ARGX has 51M diluted shares, up 32% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2016 | — |
| Q2 2016 | — |
| Q4 2015 | — |
| Q2 2015 | — |
| Q4 2014 | — |
| Q2 2014 | — |
| Q4 2013 | — |
| Q2 2013 | — |
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 ARGX 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.
ARGX Net Leverage
ARGX'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).
ARGX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.4 | Neutral |
| Stochastic | 51.3 | Neutral |
ARGX's weekly RSI is 58 (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).
ARGX PE vs Healthcare Sector
ARGX 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.
ARGX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $899.8 | 9.1% above |
| 20 week MA | $921.8 | 6.5% above |
| 50 week MA | $855.0 | 15% above |
| 100 week MA | $759.7 | 29% above |
| 200 week MA | $602.7 | 63% above |
ARGX 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.
ARGX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $160.8 | $299.5 | +86% |
| 2021 | $299.5 | $350.0 | +17% |
| 2022 | $350.0 | $377.3 | +7.8% |
| 2023 | $377.3 | $380.4 | +0.8% |
| 2024 | $380.4 | $626.3 | +65% |
| 2025 | $626.3 | $844.9 | +35% |
| 2026 YTD | $844.9 | $981.3 | +16% |
ARGX 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.