CRL
Charles River Laboratories International, Inc.
CRL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NVO
Novo Nordisk A/S
NVO has a slight edge over CRL overall, supported by stronger valuation and stronger modeled upside.
CRL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Weak |
CRL's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is weak.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
CRL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 22x | $21.43 | -94% |
| Fair | 29x | $27.64 | -92% |
| Expensive | 46x | $44.08 | -87% |
| Current | 355x | $341 | — |
Historical ranges are pointers, not guarantees.
CRL's PE is in its expensive range at 355x.
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 CRL in the historical PE scenario, which offers more potential upside but is not a forecast.
CRL Forward outlook
There aren't enough analyst estimates for CRL 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.
CRL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.96 | +$2.47 |
| Q2 2026 | -$4.80 | -$3.52 |
| Q1 2026 | -$3.71 | -$3.11 |
| Q4 2025 | -$2.91 | -1555% |
| Q3 2025 | -$1.51 | -119% |
| Q2 2025 | -$1.28 | -115% |
| Q1 2025 | -$0.60 | -107% |
| Q4 2024 | $0.20 | -98% |
CRL has returned to profit: it earned $0.96 per share over the past year, after losing money 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 CRL on earnings, with more consistent year-over-year improvement.
CRL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $982.7M | -2.2% |
| Q2 2026 | $1B | -2.7% |
| Q1 2026 | $995.8M | +1.2% |
| Q4 2025 | $994.2M | -0.8% |
| Q3 2025 | $1B | -0.5% |
| Q2 2025 | $1B | +0.6% |
| Q1 2025 | $984.2M | -2.7% |
| Q4 2024 | $1B | -1.1% |
CRL's revenue grew through 2022 and has held roughly level since: $983M last quarter, down 2.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +7.3 points |
| Q2 2026 | 12% | +2.2 points |
| Q1 2026 | 12% | +4.4 points |
| Q4 2025 | -29% | -12 points |
| Q3 2025 | 13% | +1.7 points |
| Q2 2025 | 9.7% | -5.1 points |
| Q1 2025 | 7.6% | -4.9 points |
| Q4 2024 | -17% | -30 points |
CRL's operating margin was 21% last quarter, up 7.3 points from the same quarter a year ago, near the top of its range since 2019.
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 CRL 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 CRL on profitability, with a higher operating margin.
CRL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $207.3M | +16% |
| Q2 2026 | $148.6M | -12% |
| Q1 2026 | -$14.8M | -113% |
| Q4 2025 | $58.6M | -30% |
| Q3 2025 | $178.2M | -16% |
| Q2 2025 | $169.3M | +9.9% |
| Q1 2025 | $112.4M | +121% |
| Q4 2024 | $83.7M | -41% |
CRL still generates free cash flow, though less than at its 2024 peak: $400M 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 CRL on cash flow, with more consistent year-over-year improvement.
CRL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +563K shares |
| 1 year | -1.7% | -842K shares |
| 3 years | -5.9% | -3M shares |
| 5 years | -5.8% | -3M shares |
| Available history | -2.2% | -1.1M shares |
CRL has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $224,000 |
| Q2 2026 | $115.6M |
| Q1 2026 | $208.3M |
| Q4 2025 | $96,000 |
| Q3 2025 | $93,000 |
| Q2 2025 | $7.4M |
| Q1 2025 | $353.1M |
| Q4 2024 | $124,000 |
CRL spent $324M buying back its own shares over the past year, down 10% 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.
CRL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.1x | High |
| Q2 2026 | 6.3x | High |
| Q1 2026 | 5.9x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 4.0x | Elevated |
| Q4 2024 | 3.5x | Elevated |
CRL's net debt is about 5.1 years of its operating earnings (EBITDA), up from 3.5 years a year ago.
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 has the edge over CRL on leverage, with a lower net debt burden relative to earnings.
CRL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.9 | Overbought |
| Stochastic | 75.1 | Neutral |
CRL's weekly RSI is 72 (overbought) and its Stochastic is 75 (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).
CRL PE vs Healthcare Sector
| Metric | CRL | Sector median | Relative |
|---|---|---|---|
| PE | 355x | 26x | 1,273% above |
| PE % | 96 | 29 | 67 pts above |
CRL is trading at 355x earnings, a 1273% premium 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 CRL on valuation relative to its sector.
CRL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $321.0 | 6.2% above |
| 20 week MA | $284.7 | 20% above |
| 50 week MA | $223.9 | 52% above |
| 100 week MA | $191.1 | 78% above |
| 200 week MA | $201.5 | 69% above |
CRL 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.
CRL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $151.9 | $251.7 | +66% |
| 2021 | $251.7 | $369.2 | +47% |
| 2022 | $369.2 | $218.5 | -41% |
| 2023 | $218.5 | $236.4 | +8.2% |
| 2024 | $236.4 | $186.2 | -21% |
| 2025 | $186.2 | $203.7 | +9.4% |
| 2026 YTD | $203.7 | $340.8 | +67% |
CRL 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.