CHE
Chemed Corporation
CHE has the edge over NVO overall, supported by lower modeled downside and stronger fundamentals.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
CHE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Healthy |
CHE's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
CHE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $550 | — |
| Cheap | 24x | $500 | -9.2% |
| Current | 26x | $550 | — |
| Fair | 29x | $602 | +9.5% |
| Expensive | 34x | $710 | +29% |
Historical ranges are pointers, not guarantees.
CHE's PE is in its cheap range at 26x. If earnings grow as analysts expect, today's price would be 20x next year's earnings.
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 has the edge over CHE in the historical PE scenario, which offers more potential upside but is not a forecast.
CHE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
CHE 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.
CHE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $27.06 | +30% |
| Q3 2026 | $20.87 | +10% |
| Q2 2026 | $19.88 | +2.3% |
| Q1 2026 | $18.32 | -11% |
| Q4 2025 | $18.34 | -7.8% |
| Q3 2025 | $18.89 | -4.6% |
| Q2 2025 | $19.43 | -1.5% |
| Q1 2025 | $20.51 | +10% |
| Q4 2024 | $19.89 | +11% |
CHE earned $20.87 per share over the past year, up 10% 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 CHE on earnings, with more consistent year-over-year improvement.
CHE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $690.9M | +11% |
| Q2 2026 | $673.3M | +8.8% |
| Q1 2026 | $657.5M | +1.6% |
| Q4 2025 | $639.3M | -0.1% |
| Q3 2025 | $624.9M | +3.1% |
| Q2 2025 | $618.8M | +3.8% |
| Q1 2025 | $646.9M | +9.8% |
| Q4 2024 | $640M | +9.2% |
CHE's revenue is growing: $691M last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +2 points |
| Q2 2026 | 13% | +2.3 points |
| Q1 2026 | 13% | -1.8 points |
| Q4 2025 | 16% | -2 points |
| Q3 2025 | 12% | -3.2 points |
| Q2 2025 | 11% | -3.8 points |
| Q1 2025 | 15% | +2.4 points |
| Q4 2024 | 18% | -1.2 points |
CHE's operating margin was 14% last quarter, up 2 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 CHE on sales, with stronger typical year-over-year growth.
| 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 CHE on profitability, with a higher operating margin.
CHE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $37.9M | -43% |
| Q2 2026 | $69.3M | -44% |
| Q1 2026 | $71.1M | +265% |
| Q4 2025 | $117.2M | -23% |
| Q3 2025 | $65.9M | -14% |
| Q2 2025 | $122.8M | +85% |
| Q1 2025 | $19.5M | -73% |
| Q4 2024 | $152.2M | +57% |
CHE's free cash flow has been positive every quarter for seven years: $295M over the past year, down 18% from 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 CHE on cash flow, with more consistent year-over-year improvement.
CHE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -64K shares |
| 1 year | -8.8% | -1.3M shares |
| 3 years | -14% | -2.1M shares |
| 5 years | -17% | -2.7M shares |
| Available history | -21% | -3.4M shares |
CHE has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $62.5M |
| Q2 2026 | $97.5M |
| Q1 2026 | $190M |
| Q4 2025 | $174.6M |
| Q3 2025 | $180.8M |
| Q2 2025 | $42.9M |
| Q1 2025 | $33.2M |
| Q4 2024 | $209.3M |
CHE spent $525M buying back its own shares over the past year, up 13% 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 4.4B diluted shares, about the same as a year ago.
| 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.
CHE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.4x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
CHE 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).
CHE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.7 | Neutral |
| Stochastic | 65.1 | Neutral |
CHE's weekly RSI is 66 (neutral) and its Stochastic is 65 (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).
CHE PE vs Healthcare Sector
| Metric | CHE | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 26x | 2% above |
| PE % | 32 | 29 | 3 pts above |
CHE is trading at 26x earnings, in line with 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 CHE on valuation relative to its sector.
CHE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $519.7 | 5.9% above |
| 20 week MA | $518.9 | 6% above |
| 50 week MA | $462.7 | 19% above |
| 100 week MA | $488.0 | 13% above |
| 200 week MA | $523.0 | 5.2% above |
CHE 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.
CHE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $438.7 | $536.7 | +22% |
| 2021 | $536.7 | $525.3 | -2.1% |
| 2022 | $525.3 | $516.2 | -1.7% |
| 2023 | $516.2 | $584.8 | +13% |
| 2024 | $584.8 | $522.8 | -11% |
| 2025 | $522.8 | $432.2 | -17% |
| 2026 YTD | $432.2 | $550.2 | +27% |
CHE 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.