DVA
DaVita Inc.
DVA has the edge over NVO overall, supported by lower modeled downside and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
DVA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Under pressure |
DVA's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet 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.
DVA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $174 | — |
| Cheap | 12x | $166 | -4.7% |
| Current | 13x | $174 | — |
| Fair | 15x | $202 | +16% |
| Expensive | 18x | $243 | +40% |
Historical ranges are pointers, not guarantees.
DVA's PE is in its cheap range at 13x. If earnings grow as analysts expect, today's price would be 11x 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 DVA in the historical PE scenario, which offers more potential upside but is not a forecast.
DVA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect DVA's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
DVA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $16.10 | +19% |
| Q3 2026 | $13.51 | +39% |
| Q2 2026 | $12.15 | +20% |
| Q1 2026 | $10.71 | +6.3% |
| Q4 2025 | $9.84 | -8.3% |
| Q3 2025 | $9.70 | +4.4% |
| Q2 2025 | $10.16 | +8% |
| Q1 2025 | $10.08 | +14% |
| Q4 2024 | $10.73 | +45% |
DVA earned $13.51 per share over the past year, up 39% 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 DVA on earnings, with more consistent year-over-year improvement.
DVA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.6B | +4.6% |
| Q2 2026 | $3.6B | +5.2% |
| Q1 2026 | $3.4B | +6% |
| Q4 2025 | $3.6B | +9.9% |
| Q3 2025 | $3.4B | +4.8% |
| Q2 2025 | $3.4B | +6.1% |
| Q1 2025 | $3.2B | +5% |
| Q4 2024 | $3.3B | +4.7% |
DVA's revenue has grown year over year for 15 quarters in a row: $3.6B last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -0.8 points |
| Q2 2026 | 16% | +0.4 points |
| Q1 2026 | 14% | +0.5 points |
| Q4 2025 | 16% | -1.7 points |
| Q3 2025 | 15% | -1.6 points |
| Q2 2025 | 16% | 0 points |
| Q1 2025 | 14% | -2.1 points |
| Q4 2024 | 17% | +4.8 points |
DVA's operating margin was 14% last quarter, down 0.8 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 DVA on profitability, with a higher operating margin.
DVA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $359.3M | -47% |
| Q2 2026 | $320.3M | +58% |
| Q1 2026 | $218.8M | +495% |
| Q4 2025 | $395.3M | +4.9% |
| Q3 2025 | $675.4M | +0.6% |
| Q2 2025 | $203.1M | -70% |
| Q1 2025 | $36.8M | +$292.6M |
| Q4 2024 | $377M | +16% |
DVA has the edge over NVO on cash flow, with more consistent year-over-year improvement.
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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
DVA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -588K shares |
| 1 year | -11% | -8.3M shares |
| 3 years | -30% | -28.5M shares |
| 5 years | -40% | -44.3M shares |
| Available history | -57% | -88.3M shares |
DVA has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $73M |
| Q2 2026 | $181.5M |
| Q1 2026 | $196.4M |
| Q4 2025 | $274.5M |
| Q3 2025 | $240.1M |
| Q2 2025 | $283.7M |
| Q1 2025 | $510.2M |
| Q4 2024 | $365.4M |
DVA spent $725M buying back its own shares over the past year, down 48% 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.
DVA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.6x | Elevated |
| Q2 2026 | 3.6x | Elevated |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 3.5x | Elevated |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 3.4x | Elevated |
| Q4 2024 | 3.1x | Elevated |
DVA's net debt is about 3.6 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 DVA on leverage, with a lower net debt burden relative to earnings.
DVA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.2 | Neutral |
| Stochastic | 19.8 | Oversold |
DVA's weekly RSI is 44 (neutral) and its Stochastic is 20 (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).
DVA PE vs Healthcare Sector
| Metric | DVA | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 26 | 29 | 3 pts below |
DVA is trading at 13x earnings, a 50% discount 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 DVA on valuation relative to its sector.
DVA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $182.5 | 4.6% below |
| 20 week MA | $195.4 | 11% below |
| 50 week MA | $169.8 | 2.5% above |
| 100 week MA | $155.7 | 12% above |
| 200 week MA | $136.0 | 28% above |
DVA 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.
DVA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.8 | $115.1 | +54% |
| 2021 | $115.1 | $111.4 | -3.2% |
| 2022 | $111.4 | $73.8 | -34% |
| 2023 | $73.8 | $104.8 | +42% |
| 2024 | $104.8 | $154.3 | +47% |
| 2025 | $154.3 | $114.0 | -26% |
| 2026 YTD | $114.0 | $174.1 | +53% |
DVA 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.