HSTM
HealthStream, Inc.
HSTM has the edge over NVO overall, supported by stronger valuation and lower modeled downside.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
HSTM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
HSTM's revenue, profitability, cash flow and balance sheet are all currently healthy.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
HSTM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 38x | $28.29 | — |
| Cheap | 40x | $27.80 | -1.7% |
| Current | 40x | $28.29 | — |
| Fair | 50x | $35.27 | +25% |
| Expensive | 97x | $67.62 | +139% |
Historical ranges are pointers, not guarantees.
HSTM's PE is in its cheap range at 40x. If earnings grow as analysts expect, today's price would be 38x 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 HSTM in the historical PE scenario, which offers more potential upside but is not a forecast.
HSTM Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
HSTM 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.
HSTM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.74 | +6.3% |
| Q3 2026 | $0.70 | +2.9% |
| Q2 2026 | $0.72 | +7.5% |
| Q1 2026 | $0.67 | +6.3% |
| Q4 2025 | $0.61 | -7.6% |
| Q3 2025 | $0.68 | +4.6% |
| Q2 2025 | $0.67 | +14% |
| Q1 2025 | $0.63 | +8.6% |
| Q4 2024 | $0.66 | +32% |
HSTM earned $0.70 per share over the past year, up 2.9% 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 HSTM on earnings, with more consistent year-over-year improvement.
HSTM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $83.3M | +8.9% |
| Q2 2026 | $83.7M | +13% |
| Q1 2026 | $81.2M | +11% |
| Q4 2025 | $79.7M | +7.4% |
| Q3 2025 | $76.5M | +4.6% |
| Q2 2025 | $74.4M | +4% |
| Q1 2025 | $73.5M | +1% |
| Q4 2024 | $74.2M | +5.2% |
HSTM's revenue has grown year over year for 23 quarters in a row: $83M last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.9% | -2 points |
| Q2 2026 | 9.9% | +2 points |
| Q1 2026 | 9.3% | +3.3 points |
| Q4 2025 | 3% | -3.3 points |
| Q3 2025 | 9.9% | +1 points |
| Q2 2025 | 7.9% | +1.8 points |
| Q1 2025 | 6% | -1.9 points |
| Q4 2024 | 6.3% | +0.3 points |
HSTM's operating margin was 7.9% last quarter, down 2 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 HSTM on profitability, with a higher operating margin.
HSTM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17.1M | -4.8% |
| Q2 2026 | $12.5M | +363% |
| Q1 2026 | $26.4M | +1.4% |
| Q4 2025 | $13M | +19% |
| Q3 2025 | $17.9M | -4.8% |
| Q2 2025 | $2.7M | -57% |
| Q1 2025 | $26M | +29% |
| Q4 2024 | $11M | -19% |
HSTM's free cash flow has been positive every quarter for seven years: $69M over the past year, up 20% 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 HSTM on cash flow, with more consistent year-over-year improvement.
HSTM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +342K shares |
| 1 year | -0.5% | -155K shares |
| 3 years | -3.6% | -1.1M shares |
| 5 years | -6.4% | -2M shares |
| Available history | -8.5% | -2.8M shares |
HSTM has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.6M |
| Q1 2026 | $6.7M |
| Q4 2025 | $5M |
| Q3 2025 | $6.9M |
| Q4 2024 | — |
| Q4 2023 | $7.3M |
| Q3 2023 | $1.6M |
HSTM spent $14M buying back its own shares over 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 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.
HSTM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -1.3x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
HSTM has the edge over NVO on leverage, with a lower net debt burden relative to earnings.
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).
HSTM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.3 | Neutral |
| Stochastic | 34.3 | Neutral |
HSTM's weekly RSI is 48 (neutral) and its Stochastic is 34 (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).
HSTM PE vs Healthcare Sector
| Metric | HSTM | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 26x | 56% above |
| PE % | 19 | 29 | 10 pts below |
HSTM is trading at 40x earnings, a 56% premium 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 HSTM on valuation relative to its sector.
HSTM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.5 | 10% below |
| 20 week MA | $29.8 | 5% below |
| 50 week MA | $25.4 | 11% above |
| 100 week MA | $27.3 | 3.7% above |
| 200 week MA | $26.7 | 5.9% above |
HSTM 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.
HSTM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.6 | $21.7 | -21% |
| 2021 | $21.7 | $26.1 | +20% |
| 2022 | $26.1 | $24.6 | -5.9% |
| 2023 | $24.6 | $27.0 | +9.9% |
| 2024 | $27.0 | $31.8 | +17% |
| 2025 | $31.8 | $23.6 | -26% |
| 2026 YTD | $23.6 | $28.3 | +20% |
HSTM 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.