DH
Definitive Healthcare Corp.
DH has a slight edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
DH Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Stable | |
| Weak |
DH's cash flow is currently stable, but its revenue, profitability and balance sheet 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.
DH PE Valuation
DH 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.
DH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect DH's profitability to improve, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
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.
DH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.19 | — |
| Q3 2026 | -$1.55 | +$0.14 |
| Q2 2026 | -$1.65 | +$1.02 |
| Q1 2026 | -$1.67 | +$2.74 |
| Q4 2025 | -$1.30 | +$2.24 |
| Q3 2025 | -$1.69 | +$1.42 |
| Q2 2025 | -$2.67 | +$0.82 |
| Q1 2025 | -$4.41 | -$2.65 |
| Q4 2024 | -$3.54 | -$1.75 |
DH is still losing money, but far less than before: $1.55 per share over the past year, against $4.41 at its worst in early 2025.
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 DH on earnings quality, reporting a profit while its opponent remains loss making.
DH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.7M | -9% |
| Q2 2026 | $55.2M | -9.1% |
| Q1 2026 | $55.9M | -5.5% |
| Q4 2025 | $61.5M | -1.2% |
| Q3 2025 | $60M | -4.2% |
| Q2 2025 | $60.8M | -4.7% |
| Q1 2025 | $59.2M | -6.8% |
| Q4 2024 | $62.3M | -5.5% |
DH's revenue has slid since its 2023 peak: $55M last quarter, down 9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -9.1% | +5.4 points |
| Q2 2026 | -12% | -5.4 points |
| Q1 2026 | -360% | -48 points |
| Q4 2025 | -43% | +117 points |
| Q3 2025 | -14% | +345 points |
| Q2 2025 | -6.9% | +573 points |
| Q1 2025 | -312% | -287 points |
| Q4 2024 | -160% | -145 points |
DH's operating margin was −9.1% last quarter, up 5.4 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 DH 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 DH on profitability, with a higher operating margin.
DH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $9M | -33% |
| Q2 2026 | $8.5M | +21% |
| Q1 2026 | $8.4M | -54% |
| Q4 2025 | -$1.7M | +$1M |
| Q3 2025 | $13.4M | -28% |
| Q2 2025 | $7M | -49% |
| Q1 2025 | $18.4M | +12% |
| Q4 2024 | -$2.8M | -167% |
DH still generates free cash flow, though less than at its 2024 peak: $24M 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 DH on cash flow, with more consistent year-over-year improvement.
DH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +957K shares |
| 1 year | +2.9% | +3M shares |
| 3 years | -6.8% | -7.8M shares |
| 5 years | +21% | +18.5M shares |
| Available history | -9.8% | -11.5M shares |
DH has 107M diluted shares, up 2.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $9.2M |
| Q2 2025 | $19.1M |
| Q1 2025 | $21.2M |
| Q4 2024 | $7.3M |
DH hasn't bought back shares in the past year.
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 DH 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.
DH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2021 | 8.5x | High |
| Q1 2021 | 0.5x | Very low |
| Q4 2020 | 8.9x | High |
DH's net debt is about 8.5 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).
DH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.1 | Neutral |
| Stochastic | 86.0 | Overbought |
DH's weekly RSI is 60 (neutral) and its Stochastic is 86 (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).
DH PE vs Healthcare Sector
DH 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.
DH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.06 | 18% above |
| 20 week MA | $0.91 | 37% above |
| 50 week MA | $1.26 | 0.8% below |
| 100 week MA | $2.43 | 49% below |
| 200 week MA | $5.21 | 76% below |
DH 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.
DH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $49.0 | $28.4 | -42% |
| 2022 | $28.4 | $11.4 | -60% |
| 2023 | $11.4 | $9.94 | -13% |
| 2024 | $9.94 | $4.23 | -57% |
| 2025 | $4.23 | $2.63 | -38% |
| 2026 YTD | $2.63 | $1.25 | -52% |
DH has finished every year since 2021 lower, and it's down 52% 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 DH on returns for 2026, with the stronger performance.