EHC
Encompass Health Corporation
EHC 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.
EHC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
EHC's profitability, cash flow and balance sheet are currently healthy, and its revenue 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.
EHC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $112 | -20% |
| Forward | 21x | $141 | — |
| Fair | 22x | $139 | -1.3% |
| Current | 22x | $141 | — |
| Expensive | 24x | $157 | +11% |
Historical ranges are pointers, not guarantees.
EHC's PE is in its fair range at 22x. If earnings grow as analysts expect, today's price would be 21x 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 EHC in the historical PE scenario, which offers more potential upside but is not a forecast.
EHC Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
EHC 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.
EHC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.72 | +4.9% |
| Q3 2026 | $6.40 | +21% |
| Q2 2026 | $6.14 | +20% |
| Q1 2026 | $5.99 | +24% |
| Q4 2025 | $5.54 | +24% |
| Q3 2025 | $5.29 | +28% |
| Q2 2025 | $5.11 | +30% |
| Q1 2025 | $4.84 | +31% |
| Q4 2024 | $4.46 | +29% |
EHC has the edge over NVO on earnings, with stronger typical year-over-year growth.
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's earnings per share have climbed steadily: $3.89 over the past year, up 4.9% from the year before, and higher year over year every quarter since late 2020.
EHC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +8.9% |
| Q2 2026 | $1.6B | +9.6% |
| Q1 2026 | $1.6B | +9% |
| Q4 2025 | $1.5B | +9.9% |
| Q3 2025 | $1.5B | +9.4% |
| Q2 2025 | $1.5B | +12% |
| Q1 2025 | $1.5B | +11% |
| Q4 2024 | $1.4B | +13% |
EHC's revenue has grown year over year for 13 quarters in a row: $1.6B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +1.4 points |
| Q2 2026 | 18% | +0.3 points |
| Q1 2026 | 19% | +0.7 points |
| Q4 2025 | 18% | +1.8 points |
| Q3 2025 | 16% | +1 points |
| Q2 2025 | 18% | +1.2 points |
| Q1 2025 | 18% | +2.6 points |
| Q4 2024 | 17% | +1.3 points |
EHC's operating margin was 18% last quarter, up 1.4 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'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 EHC on profitability, with a higher operating margin.
EHC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $127.5M | +52% |
| Q2 2026 | $62.3M | -45% |
| Q1 2026 | $150.7M | +20% |
| Q4 2025 | $116.7M | +46% |
| Q3 2025 | $83.7M | -30% |
| Q2 2025 | $113.3M | +87% |
| Q1 2025 | $125.5M | +26% |
| Q4 2024 | $80.1M | +$101.7M |
EHC 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.
EHC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -300K shares |
| 1 year | -2.5% | -2.6M shares |
| 3 years | -1.7% | -1.7M shares |
| 5 years | -0.5% | -500K shares |
| Available history | +0.3% | +300K shares |
EHC has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $57.9M |
| Q2 2026 | $74.2M |
| Q1 2026 | $71.6M |
| Q4 2025 | $76.3M |
| Q3 2025 | $24.9M |
| Q2 2025 | $24.7M |
| Q1 2025 | $32.1M |
| Q4 2024 | $7.5M |
EHC spent $280M buying back its own shares over the past year, about three times what it spent 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.
EHC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 2.1x | Moderate |
EHC's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as 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 EHC on leverage, with a lower net debt burden relative to earnings.
EHC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 72.7 | Overbought |
| Stochastic | 88.7 | Overbought |
EHC's weekly RSI is 73 (overbought) and its Stochastic is 89 (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).
EHC PE vs Healthcare Sector
| Metric | EHC | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 26x | 15% below |
| PE % | 53 | 29 | 24 pts above |
EHC is trading at 22x earnings, a 15% 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 EHC on valuation relative to its sector.
EHC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $129.1 | 9.1% above |
| 20 week MA | $122.0 | 15% above |
| 50 week MA | $111.1 | 27% above |
| 100 week MA | $111.2 | 27% above |
| 200 week MA | $93.1 | 51% above |
EHC 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.
EHC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $55.5 | $65.7 | +19% |
| 2021 | $65.7 | $51.0 | -22% |
| 2022 | $51.0 | $59.3 | +16% |
| 2023 | $59.3 | $66.7 | +13% |
| 2024 | $66.7 | $93.6 | +40% |
| 2025 | $93.6 | $107.5 | +15% |
| 2026 YTD | $107.5 | $140.8 | +31% |
EHC 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.