MIRM
Mirum Pharmaceuticals, Inc.
MIRM has a slight edge over NVO overall, supported by stronger modeled upside.
NVO
Novo Nordisk A/S
NVO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MIRM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Weak |
MIRM's revenue is currently healthy, but its profitability, cash flow and balance sheet are weak.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
MIRM PE Valuation
MIRM has no meaningful PE right now: it lost money over the past year.
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.
MIRM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect MIRM's losses to grow, with revenue growing. However, they disagree widely on these estimates.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
NVO has the edge over MIRM on the outlook, with more favorable earnings expectations.
MIRM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$15.46 | -$14.60 |
| Q2 2026 | -$14.54 | -$13.33 |
| Q1 2026 | -$13.60 | -$11.99 |
| Q4 2025 | -$0.47 | +$1.38 |
| Q3 2025 | -$0.86 | +$1.19 |
| Q2 2025 | -$1.21 | +$1.11 |
| Q1 2025 | -$1.61 | +$2.13 |
| Q4 2024 | -$1.85 | +$2.15 |
MIRM lost $15.46 per share over the past year, and its loss has widened in each of the last three quarters.
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 MIRM on earnings quality, reporting a profit while its opponent remains loss making.
MIRM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $185.7M | +40% |
| Q2 2026 | $176.2M | +38% |
| Q1 2026 | $159.9M | +43% |
| Q4 2025 | $148.9M | +50% |
| Q3 2025 | $133M | +47% |
| Q2 2025 | $127.8M | +64% |
| Q1 2025 | $111.6M | +61% |
| Q4 2024 | $99.4M | +43% |
MIRM has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -32% | -34 points |
| Q2 2026 | -24% | -20 points |
| Q1 2026 | -494% | -480 points |
| Q4 2025 | -3.1% | +21 points |
| Q3 2025 | 2% | +16 points |
| Q2 2025 | -3.9% | +27 points |
| Q1 2025 | -14% | +25 points |
| Q4 2024 | -24% | +23 points |
MIRM's operating margin was −32% last quarter, down 34 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 MIRM on profitability, with a higher operating margin.
MIRM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$5.6M | -114% |
| Q2 2026 | -$44.3M | -472% |
| Q1 2026 | -$229.4M | -$227.4M |
| Q4 2025 | $5.5M | +$10.6M |
| Q3 2025 | $39.5M | +938% |
| Q2 2025 | $11.9M | +$16.5M |
| Q1 2025 | -$2M | -113% |
| Q4 2024 | -$5.1M | +$11.5M |
MIRM has burned cash in most quarters: −$274M over the past year, against $44M 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 MIRM on cash generation, producing positive trailing cash flow while its opponent burns cash.
MIRM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.2% | +2.7M shares |
| 1 year | +16% | +9.1M shares |
| 3 years | +61% | +25M shares |
| 5 years | +117% | +35.7M shares |
| Available history | +167% | +41.3M shares |
MIRM has 66M diluted shares, up 16% 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 MIRM 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.
MIRM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 6.2x | High |
MIRM's net debt is about 6.2 years of its operating earnings (EBITDA).
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).
MIRM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.3 | Neutral |
| Stochastic | 43.7 | Neutral |
MIRM's weekly RSI is 49 (neutral) and its Stochastic is 44 (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).
MIRM PE vs Healthcare Sector
MIRM 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.
MIRM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $86.4 | 8% above |
| 20 week MA | $98.1 | 4.9% below |
| 50 week MA | $95.4 | 2.2% below |
| 100 week MA | $75.2 | 24% above |
| 200 week MA | $52.8 | 77% above |
MIRM 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.
MIRM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.9 | $18.3 | -30% |
| 2021 | $18.3 | $15.6 | -15% |
| 2022 | $15.6 | $18.2 | +17% |
| 2023 | $18.2 | $29.5 | +62% |
| 2024 | $29.5 | $41.6 | +41% |
| 2025 | $41.6 | $79.3 | +91% |
| 2026 YTD | $79.3 | $93.3 | +18% |
MIRM 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.