AYTU
Aytu BioPharma, Inc.
AYTU has a slight 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.
AYTU Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Stable | |
| Strong |
AYTU's balance sheet is currently strong, and its cash flow is stable, but its revenue and profitability 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.
AYTU PE Valuation
AYTU 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.
AYTU Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
AYTU 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.
AYTU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.66 | +$0.96 |
| Q1 2026 | -$4.08 | -$3.05 |
| Q4 2025 | -$3.34 | -$1.58 |
| Q3 2025 | -$2.55 | -$1.01 |
| Q2 2025 | -$2.62 | +$0.25 |
| Q1 2025 | -$1.03 | +$1.76 |
| Q4 2024 | -$1.76 | +$2.44 |
| Q3 2024 | -$1.54 | +$4.77 |
AYTU is still losing money, but far less than before: $1.66 per share over the past year, against $85.40 at its worst in early 2022.
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 AYTU on earnings quality, reporting a profit while its opponent remains loss making.
AYTU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $16.1M | +6.4% |
| Q1 2026 | $12.4M | -33% |
| Q4 2025 | $15.2M | -6.5% |
| Q3 2025 | $13.9M | -16% |
| Q2 2025 | $15.1M | -16% |
| Q1 2025 | $18.5M | +2.6% |
| Q4 2024 | $16.2M | -29% |
| Q3 2024 | $16.6M | -25% |
AYTU's revenue is recovering but still below its 2023 peak: $16M last quarter, up 6.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -4.8% | +46 points |
| Q1 2026 | -33% | -46 points |
| Q4 2025 | -13% | -2.5 points |
| Q3 2025 | -11% | -5.2 points |
| Q2 2025 | -50% | -30 points |
| Q1 2025 | 13% | +27 points |
| Q4 2024 | -10% | -21 points |
| Q3 2024 | -5.6% | +1.2 points |
AYTU's operating margin was −4.8% last quarter, up 46 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 AYTU 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 AYTU on profitability, with a higher operating margin.
AYTU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $4.4M | +58% |
| Q1 2026 | -$4.2M | +$2.3M |
| Q2 2025 | $2.8M | +$3.6M |
| Q1 2025 | -$6.5M | -$6.3M |
| Q2 2024 | -$788K | -108% |
| Q1 2024 | -$254K | +$2.7M |
| Q4 2023 | -$135K | +$2.3M |
| Q3 2023 | -$211K | +$8.9M |
AYTU's free cash flow has turned positive after five years mostly in the red: $3M 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 AYTU on cash generation, producing positive trailing cash flow while its opponent burns cash.
AYTU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +17% | +1.8M shares |
| 1 year | +50% | +4.1M shares |
| 3 years | +296% | +9.2M shares |
| 5 years | +6884% | +12.1M shares |
AYTU has 12M diluted shares, up 50% from a year ago.
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 AYTU 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.
AYTU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2024 | -1.8x | Net Cash |
| Q1 2024 | -0.5x | Net Cash |
| Q4 2023 | -3.8x | Net Cash |
AYTU has more cash than debt.
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).
AYTU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.9 | Neutral |
| Stochastic | 8.0 | Oversold |
AYTU's weekly RSI is 36 (neutral) and its Stochastic is 8 (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).
AYTU PE vs Healthcare Sector
AYTU 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.
AYTU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.98 | 9.6% below |
| 20 week MA | $2.12 | 16% below |
| 50 week MA | $2.32 | 23% below |
| 100 week MA | $2.08 | 14% below |
| 200 week MA | $2.27 | 21% below |
AYTU is in a downtrend: it's below all five of its weekly moving averages, and 21% below 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 the edge over AYTU on trend strength, trading above more of its moving averages.
AYTU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $196.0 | $122.4 | -38% |
| 2021 | $122.4 | $30.4 | -75% |
| 2022 | $30.4 | $3.80 | -88% |
| 2023 | $3.80 | $2.84 | -25% |
| 2024 | $2.84 | $1.52 | -46% |
| 2025 | $1.52 | $2.45 | +61% |
| 2026 YTD | $2.45 | $1.79 | -27% |
AYTU has finished lower in five of the last six years. It's down 27% so far in 2026.
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 the edge over AYTU on returns for 2026, with the stronger performance.