AXGN
AxoGen, Inc.
AXGN has the edge over NVO overall, supported by stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
AXGN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Healthy | |
| Stable |
AXGN's revenue and cash flow are currently healthy, and its balance sheet is stable, but its profitability is 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.
AXGN PE Valuation
AXGN 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.
AXGN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Moderate |
AXGN 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.
AXGN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.65 | — |
| Q3 2026 | -$0.65 | -$0.59 |
| Q2 2026 | -$0.68 | -$0.57 |
| Q1 2026 | -$0.64 | -$0.48 |
| Q4 2025 | -$0.34 | -$0.11 |
| Q3 2025 | -$0.06 | +$0.25 |
| Q2 2025 | -$0.11 | +$0.26 |
| Q1 2025 | -$0.16 | +$0.33 |
| Q4 2024 | -$0.23 | +$0.28 |
AXGN lost $0.65 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 AXGN on earnings quality, reporting a profit while its opponent remains loss making.
AXGN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $75.8M | +26% |
| Q2 2026 | $69.7M | +23% |
| Q1 2026 | $61.5M | +27% |
| Q4 2025 | $59.9M | +21% |
| Q3 2025 | $60.1M | +24% |
| Q2 2025 | $56.7M | +18% |
| Q1 2025 | $48.6M | +17% |
| Q4 2024 | $49.4M | +15% |
AXGN has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.3% | -1.9 points |
| Q2 2026 | -3.1% | -6 points |
| Q1 2026 | -4.6% | -1.2 points |
| Q4 2025 | -16% | -20 points |
| Q3 2025 | 3.2% | +3.8 points |
| Q2 2025 | 3% | +3.8 points |
| Q1 2025 | -3.4% | +7.6 points |
| Q4 2024 | 4.1% | +12 points |
AXGN's operating margin was 1.3% last quarter, down 1.9 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 has the edge over AXGN on profitability, with a higher operating margin.
AXGN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $15.1M | +789% |
| Q2 2026 | $6.3M | -9.7% |
| Q1 2026 | -$1.2M | +$12.2M |
| Q4 2025 | $1.8M | -78% |
| Q3 2025 | $1.7M | -48% |
| Q2 2025 | $7M | +115% |
| Q1 2025 | -$13.4M | -$245K |
| Q4 2024 | $8.1M | +$9.7M |
AXGN has burned cash in most quarters: $22M over the past year, about seven times what it generated 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 AXGN on cash flow, with more consistent year-over-year improvement.
AXGN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +15% | +8.2M shares |
| 1 year | +25% | +12.4M shares |
| 3 years | +43% | +18.5M shares |
| 5 years | +48% | +20.1M shares |
| Available history | +55% | +21.8M shares |
AXGN has 62M diluted shares, up 25% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2020 | $639,000 |
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 AXGN 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.
AXGN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 3.3x | Elevated |
| Q1 2025 | 4.7x | High |
| Q4 2024 | 6.3x | High |
AXGN's net debt is about 2.3 years of its operating earnings (EBITDA).
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).
AXGN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.0 | Neutral |
| Stochastic | 83.0 | Overbought |
AXGN's weekly RSI is 66 (neutral) and its Stochastic is 83 (overbought).
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).
AXGN PE vs Healthcare Sector
AXGN 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.
AXGN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $43.1 | 29% above |
| 20 week MA | $44.2 | 25% above |
| 50 week MA | $39.2 | 41% above |
| 100 week MA | $27.8 | 100% above |
| 200 week MA | $18.3 | 203% above |
AXGN 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.
AXGN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.6 | $17.7 | -4.8% |
| 2021 | $17.7 | $9.82 | -45% |
| 2022 | $9.82 | $9.94 | +1.2% |
| 2023 | $9.94 | $6.83 | -31% |
| 2024 | $6.83 | $16.7 | +144% |
| 2025 | $16.7 | $32.8 | +97% |
| 2026 YTD | $32.8 | $55.4 | +69% |
AXGN 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.