KRYS
Krystal Biotech, Inc.
KRYS has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
KRYS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
KRYS'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.
KRYS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 35x | $261 | -15% |
| Forward | 35x | $306 | — |
| Current | 42x | $306 | — |
| Fair | 44x | $321 | +5.1% |
| Expensive | 79x | $579 | +89% |
Historical ranges are pointers, not guarantees.
KRYS's PE is in its fair range at 42x. If earnings grow as analysts expect, today's price would be 35x 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 KRYS in the historical PE scenario, which offers more potential upside but is not a forecast.
KRYS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
KRYS 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.
KRYS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.68 | +18% |
| Q3 2026 | $7.36 | +10% |
| Q2 2026 | $7.97 | +62% |
| Q1 2026 | $7.47 | +79% |
| Q4 2025 | $6.84 | +128% |
| Q3 2025 | $6.68 | +221% |
| Q2 2025 | $4.93 | +24% |
| Q1 2025 | $4.17 | +91% |
| Q4 2024 | $3.00 | +669% |
KRYS 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.
KRYS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $127.3M | +30% |
| Q2 2026 | $119.2M | +24% |
| Q1 2026 | $116.4M | +32% |
| Q4 2025 | $107.1M | +18% |
| Q3 2025 | $97.8M | +17% |
| Q2 2025 | $96M | +37% |
| Q1 2025 | $88.2M | +95% |
| Q4 2024 | $91.1M | +116% |
KRYS has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 56% | +14 points |
| Q2 2026 | 49% | +8.1 points |
| Q1 2026 | 46% | +5.1 points |
| Q4 2025 | 41% | -4.1 points |
| Q3 2025 | 42% | +16 points |
| Q2 2025 | 41% | +29 points |
| Q1 2025 | 41% | +56 points |
| Q4 2024 | 45% | +38 points |
KRYS has the edge over NVO on profitability, with a higher operating margin.
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's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
KRYS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $90.3M | +138% |
| Q2 2026 | $71.2M | +40% |
| Q1 2026 | $73.2M | +196% |
| Q4 2025 | $75.4M | +45% |
| Q3 2025 | $38M | -34% |
| Q2 2025 | $50.8M | +$56.1M |
| Q1 2025 | $24.8M | +69% |
| Q4 2024 | $52M | +$61.1M |
KRYS 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.
KRYS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +181K shares |
| 1 year | +3.4% | +1M shares |
| 3 years | +6.7% | +1.9M shares |
| 5 years | +39% | +8.6M shares |
| Available history | +94% | +14.9M shares |
KRYS has 31M diluted shares, up 3.4% 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 KRYS 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.
KRYS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.0x | Net Cash |
| Q2 2026 | -2.1x | Net Cash |
| Q1 2026 | -2.7x | Net Cash |
| Q4 2025 | -3.0x | Net Cash |
| Q3 2025 | -2.4x | Net Cash |
| Q2 2025 | -2.5x | Net Cash |
| Q1 2025 | -2.7x | Net Cash |
| Q4 2024 | -4.8x | Net Cash |
KRYS 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).
KRYS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.9 | Neutral |
| Stochastic | 31.3 | Neutral |
KRYS's weekly RSI is 46 (neutral) and its Stochastic is 31 (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).
KRYS PE vs Healthcare Sector
| Metric | KRYS | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 26x | 61% above |
| PE % | 42 | 29 | 13 pts above |
KRYS is trading at 42x earnings, a 61% 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 KRYS on valuation relative to its sector.
KRYS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $320.8 | 4.7% below |
| 20 week MA | $336.9 | 9.3% below |
| 50 week MA | $300.8 | 1.6% above |
| 100 week MA | $231.7 | 32% above |
| 200 week MA | $184.5 | 66% above |
KRYS 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.
KRYS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $60.2 | $60.6 | +0.7% |
| 2021 | $60.6 | $72.3 | +19% |
| 2022 | $72.3 | $76.6 | +5.9% |
| 2023 | $76.6 | $124.1 | +62% |
| 2024 | $124.1 | $159.3 | +28% |
| 2025 | $159.3 | $252.2 | +58% |
| 2026 YTD | $252.2 | $305.7 | +21% |
KRYS 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.