HROW
Harrow Health, Inc.
HROW has a slight edge over NVO overall, supported by stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
HROW Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Weak | |
| Weak |
HROW's revenue is currently strong, but its profitability, cash flow 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.
HROW PE Valuation
HROW has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 26x 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's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
HROW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
HROW 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.
HROW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.10 | — |
| Q3 2026 | -$0.75 | -$0.60 |
| Q2 2026 | -$0.97 | -$0.67 |
| Q1 2026 | -$0.38 | +$0.23 |
| Q4 2025 | -$0.14 | +$0.35 |
| Q3 2025 | -$0.15 | +$0.79 |
| Q2 2025 | -$0.30 | +$0.65 |
| Q1 2025 | -$0.61 | +$0.30 |
| Q4 2024 | -$0.49 | +$0.26 |
HROW lost $0.75 per share over the past year, a bigger loss than 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 HROW on earnings quality, reporting a profit while its opponent remains loss making.
HROW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $99.3M | +39% |
| Q2 2026 | $70.7M | +11% |
| Q1 2026 | $44.2M | -7.6% |
| Q4 2025 | $89.1M | +33% |
| Q3 2025 | $71.6M | +45% |
| Q2 2025 | $63.7M | +30% |
| Q1 2025 | $47.8M | +38% |
| Q4 2024 | $66.8M | +84% |
HROW has the edge over NVO on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -9 points |
| Q2 2026 | -16% | -34 points |
| Q1 2026 | -50% | -27 points |
| Q4 2025 | 18% | -1.8 points |
| Q3 2025 | 21% | +18 points |
| Q2 2025 | 18% | +15 points |
| Q1 2025 | -23% | -3.4 points |
| Q4 2024 | 19% | +33 points |
HROW's operating margin was 12% last quarter, down 9 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 HROW on profitability, with a higher operating margin.
HROW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$9M | -155% |
| Q2 2026 | -$10.2M | -$9.3M |
| Q1 2026 | -$9.2M | -147% |
| Q4 2025 | $8.1M | +$26.4M |
| Q3 2025 | $16.4M | +598% |
| Q2 2025 | -$969K | +$2.1M |
| Q1 2025 | $19.5M | +$24.2M |
| Q4 2024 | -$18.3M | -316% |
HROW's free cash flow was −$20M over the past year, against $17M 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 HROW on cash generation, producing positive trailing cash flow while its opponent burns cash.
HROW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.2% | +1.2M shares |
| 1 year | -0.9% | -341K shares |
| 3 years | +12% | +4.3M shares |
| 5 years | +42% | +11.4M shares |
| Available history | +46% | +12.1M shares |
HROW has the edge over NVO on shareholder dilution, with a more favorable share count trend.
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.
HROW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 9.7x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | 9.3x | High |
| Q2 2025 | 12.2x | High |
| Q1 2025 | 29.7x | High |
| Q4 2024 | 20.2x | High |
| Q4 2023 | 88.0x | High |
| Q3 2023 | 37.2x | High |
HROW's net debt is about 9.7 years of its operating earnings (EBITDA), down from more than 20 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 HROW on leverage, with a lower net debt burden relative to earnings.
HROW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.2 | Neutral |
| Stochastic | 9.8 | Oversold |
HROW's weekly RSI is 38 (neutral) and its Stochastic is 10 (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).
HROW PE vs Healthcare Sector
| Metric | HROW | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
HROW 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.
HROW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.0 | 2.4% below |
| 20 week MA | $35.3 | 20% below |
| 50 week MA | $39.0 | 27% below |
| 100 week MA | $36.1 | 21% below |
| 200 week MA | $28.8 | 1.6% below |
HROW is in a downtrend: it's below all five of its weekly moving averages, and 1.6% below its 200-week average.
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 the edge over HROW on trend strength, trading above more of its moving averages.
HROW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.88 | $5.78 | -27% |
| 2021 | $5.78 | $9.20 | +59% |
| 2022 | $9.20 | $14.2 | +54% |
| 2023 | $14.2 | $11.2 | -21% |
| 2024 | $11.2 | $33.5 | +199% |
| 2025 | $33.5 | $50.1 | +50% |
| 2026 YTD | $50.1 | $28.3 | -44% |
HROW is down 44% so far in 2026, after finishing higher in four of the previous six years.
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 HROW on returns for 2026, with the stronger performance.