KNSA
Kiniksa Pharmaceuticals, Ltd.
KNSA has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
KNSA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Healthy |
KNSA'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.
KNSA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.2x | $6.87 | -93% |
| Forward | 63x | $96.28 | — |
| Fair | 67x | $87.85 | -8.8% |
| Current | 74x | $96.28 | — |
| Expensive | 143x | $188 | +95% |
Historical ranges are pointers, not guarantees.
KNSA's PE is in its fair range at 74x. If earnings grow as analysts expect, today's price would be 63x 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 KNSA in the historical PE scenario, which offers more potential upside but is not a forecast.
KNSA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
KNSA has the edge over NVO on the outlook, with more favorable earnings 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.
KNSA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.52 | +16% |
| Q3 2026 | $1.31 | +185% |
| Q2 2026 | $0.98 | +1860% |
| Q1 2026 | $0.91 | +$1.15 |
| Q4 2025 | $0.75 | +$1.35 |
| Q3 2025 | $0.46 | +$0.58 |
| Q2 2025 | $0.05 | +$0.19 |
| Q1 2025 | -$0.24 | -285% |
| Q4 2024 | -$0.60 | -400% |
KNSA's earnings per share have fallen from their peak: $1.31 over the past year, against $3.28 in mid-2023.
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 KNSA on earnings, with more consistent year-over-year improvement.
KNSA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $286M | +58% |
| Q2 2026 | $243.6M | +55% |
| Q1 2026 | $214.3M | +56% |
| Q4 2025 | $202.1M | +65% |
| Q3 2025 | $180.9M | +61% |
| Q2 2025 | $156.8M | +44% |
| Q1 2025 | $137.8M | +73% |
| Q4 2024 | $122.5M | +47% |
KNSA has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +5.7 points |
| Q2 2026 | 11% | -1.7 points |
| Q1 2026 | 14% | +4 points |
| Q4 2025 | 9.8% | +26 points |
| Q3 2025 | 13% | +22 points |
| Q2 2025 | 13% | +13 points |
| Q1 2025 | 9.6% | +30 points |
| Q4 2024 | -16% | -16 points |
KNSA's operating margin was 19% last quarter, up 5.7 points from the same quarter a year ago, near the top of its range since 2021.
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 KNSA on profitability, with a higher operating margin.
KNSA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $47.4M | +44% |
| Q2 2026 | $46.5M | +67% |
| Q1 2026 | $50M | +125% |
| Q4 2025 | $53.3M | +187% |
| Q3 2025 | $33M | +$35.2M |
| Q2 2025 | $27.9M | +440% |
| Q1 2025 | $22.2M | +469% |
| Q4 2024 | $18.6M | +335% |
KNSA 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.
KNSA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.8% | +1.5M shares |
| 1 year | +6.1% | +4.9M shares |
| 3 years | +21% | +14.7M shares |
| 5 years | +24% | +16.3M shares |
| Available history | +57% | +30.9M shares |
KNSA has 85M diluted shares, up 6.1% from a year ago.
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 the edge over KNSA on shareholder dilution, with a more favorable share count trend.
| 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.
KNSA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -1.7x | Net Cash |
| Q1 2026 | -2.0x | Net Cash |
| Q4 2025 | -2.1x | Net Cash |
| Q3 2025 | -4.4x | Net Cash |
| Q2 2025 | -32.1x | Net Cash |
| Q2 2023 | -2.8x | Net Cash |
| Q1 2023 | -3.3x | Net Cash |
KNSA 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).
KNSA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 79.8 | Overbought |
| Stochastic | 85.1 | Overbought |
KNSA's weekly RSI is 80 (overbought) and its Stochastic is 85 (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).
KNSA PE vs Healthcare Sector
| Metric | KNSA | Sector median | Relative |
|---|---|---|---|
| PE | 74x | 26x | 184% above |
| PE % | 54 | 29 | 25 pts above |
KNSA is trading at 74x earnings, a 184% 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 KNSA on valuation relative to its sector.
KNSA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $83.5 | 15% above |
| 20 week MA | $76.9 | 25% above |
| 50 week MA | $59.0 | 63% above |
| 100 week MA | $43.7 | 121% above |
| 200 week MA | $30.9 | 211% above |
KNSA 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.
KNSA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.7 | $19.0 | +62% |
| 2021 | $19.0 | $13.1 | -31% |
| 2022 | $13.1 | $15.5 | +18% |
| 2023 | $15.5 | $17.5 | +13% |
| 2024 | $17.5 | $20.0 | +14% |
| 2025 | $20.0 | $42.0 | +110% |
| 2026 YTD | $42.0 | $96.3 | +129% |
KNSA 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.