HSIC
Henry Schein, Inc.
HSIC has the edge over NVO overall, supported by lower modeled downside and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
HSIC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Under pressure |
HSIC'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.
HSIC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $86.14 | — |
| Cheap | 17x | $60.99 | -29% |
| Fair | 21x | $78.46 | -8.9% |
| Current | 24x | $86.14 | — |
| Expensive | 25x | $90.36 | +4.9% |
Historical ranges are pointers, not guarantees.
HSIC's PE is in its expensive range at 24x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
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 HSIC in the historical PE scenario, which offers more potential upside but is not a forecast.
HSIC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
HSIC 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.
HSIC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.82 | +59% |
| Q3 2026 | $3.65 | +15% |
| Q2 2026 | $3.43 | +10% |
| Q1 2026 | $3.31 | +3.1% |
| Q4 2025 | $3.27 | +7.2% |
| Q3 2025 | $3.17 | +30% |
| Q2 2025 | $3.11 | +15% |
| Q1 2025 | $3.21 | +8.1% |
| Q4 2024 | $3.05 | -3.5% |
HSIC's earnings per share have fallen from their peak: $3.65 over the past year, against $4.88 in early 2020.
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 HSIC on earnings, with more consistent year-over-year improvement.
HSIC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.5B | +4% |
| Q2 2026 | $3.5B | +6.7% |
| Q1 2026 | $3.4B | +6.3% |
| Q4 2025 | $3.4B | +7.7% |
| Q3 2025 | $3.3B | +5.2% |
| Q2 2025 | $3.2B | +3.3% |
| Q1 2025 | $3.2B | -0.1% |
| Q4 2024 | $3.2B | +5.8% |
HSIC's revenue has grown year over year for six quarters in a row: $3.5B last quarter, up 4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.6% | +0.6 points |
| Q2 2026 | 5% | +0.3 points |
| Q1 2026 | 5.4% | -0.1 points |
| Q4 2025 | 4.7% | -0.1 points |
| Q3 2025 | 4.9% | 0 points |
| Q2 2025 | 4.7% | -0.4 points |
| Q1 2025 | 5.5% | +0.8 points |
| Q4 2024 | 4.9% | +3.6 points |
HSIC's operating margin was 5.6% last quarter, up 0.6 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 HSIC on sales, with stronger typical year-over-year growth.
| 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 HSIC on profitability, with a higher operating margin.
HSIC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $131M | -7.1% |
| Q2 2026 | $212M | +141% |
| Q1 2026 | -$122M | -2133% |
| Q4 2025 | $338M | +101% |
| Q3 2025 | $141M | +21% |
| Q2 2025 | $88M | -66% |
| Q1 2025 | $6M | -96% |
| Q4 2024 | $168M | +$239M |
HSIC generated $559M in free cash flow over the past year, up 39% from 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 HSIC on cash flow, with more consistent year-over-year improvement.
HSIC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.6% | -1.9M shares |
| 1 year | -7% | -8.5M shares |
| 3 years | -14% | -18.9M shares |
| 5 years | -20% | -28.5M shares |
| Available history | -25% | -36.7M shares |
HSIC has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $125M |
| Q2 2026 | $200M |
| Q1 2026 | $125M |
| Q4 2025 | $200M |
| Q3 2025 | $203M |
| Q2 2025 | $286M |
| Q1 2025 | $161M |
| Q4 2024 | $75M |
HSIC spent $650M 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.
HSIC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.2x | Elevated |
| Q2 2026 | 3.3x | Elevated |
| Q1 2026 | 3.4x | Elevated |
| Q4 2025 | 3.1x | Elevated |
| Q3 2025 | 3.2x | Elevated |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 2.7x | Moderate |
HSIC's net debt is about 3.2 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 HSIC on leverage, with a lower net debt burden relative to earnings.
HSIC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 50.0 | Neutral |
HSIC's weekly RSI is 55 (neutral) and its Stochastic is 50 (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).
HSIC PE vs Healthcare Sector
| Metric | HSIC | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 26x | 8.7% below |
| PE % | 73 | 29 | 44 pts above |
HSIC is trading at 24x earnings, in line with 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 HSIC on valuation relative to its sector.
HSIC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $85.5 | 0.8% above |
| 20 week MA | $86.6 | 0.6% below |
| 50 week MA | $80.8 | 6.7% above |
| 100 week MA | $75.4 | 14% above |
| 200 week MA | $74.8 | 15% above |
HSIC 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.
HSIC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $66.6 | $65.8 | -1.1% |
| 2021 | $65.8 | $74.9 | +14% |
| 2022 | $74.9 | $80.6 | +7.6% |
| 2023 | $80.6 | $75.7 | -6.1% |
| 2024 | $75.7 | $70.4 | -7% |
| 2025 | $70.4 | $76.1 | +8.1% |
| 2026 YTD | $76.1 | $86.1 | +13% |
HSIC 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.