MNKD
MannKind Corporation
MNKD has the edge over NVO overall, supported by stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
MNKD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Weak |
MNKD's revenue is currently strong, 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.
MNKD PE Valuation
MNKD has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 178x 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's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
MNKD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
MNKD 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.
MNKD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.02 | — |
| Q3 2026 | -$0.23 | -330% |
| Q2 2026 | -$0.13 | -218% |
| Q1 2026 | -$0.07 | -170% |
| Q4 2025 | $0.02 | -80% |
| Q3 2025 | $0.10 | +25% |
| Q2 2025 | $0.11 | +120% |
| Q1 2025 | $0.10 | +150% |
| Q4 2024 | $0.10 | +$0.14 |
MNKD has swung to a loss: it lost $0.23 per share over the past year, after a profit 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 MNKD on earnings quality, reporting a profit while its opponent remains loss making.
MNKD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $101.9M | +24% |
| Q2 2026 | $109.4M | +43% |
| Q1 2026 | $90.2M | +15% |
| Q4 2025 | $112M | +46% |
| Q3 2025 | $82.1M | +17% |
| Q2 2025 | $76.5M | +5.7% |
| Q1 2025 | $78.4M | +18% |
| Q4 2024 | $76.8M | +31% |
MNKD has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -2.1% | -25 points |
| Q2 2026 | -0.3% | -7.2 points |
| Q1 2026 | -1.9% | -30 points |
| Q4 2025 | -6.9% | -41 points |
| Q3 2025 | 23% | +4.8 points |
| Q2 2025 | 6.9% | -16 points |
| Q1 2025 | 28% | +3.2 points |
| Q4 2024 | 35% | +21 points |
MNKD's operating margin was −2.1% last quarter, down 25 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 MNKD on profitability, with a higher operating margin.
MNKD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$37.8M | -268% |
| Q2 2026 | -$23.5M | -399% |
| Q1 2026 | -$7.2M | -$538K |
| Q4 2025 | -$10M | -150% |
| Q3 2025 | $22.5M | +184% |
| Q2 2025 | $7.8M | +810% |
| Q1 2025 | -$6.7M | -256% |
| Q4 2024 | $19.7M | +25% |
MNKD has burned cash in most quarters: −$78M over the past year, against $43M 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 MNKD on cash generation, producing positive trailing cash flow while its opponent burns cash.
MNKD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.6% | +11M shares |
| 1 year | +2.7% | +8.5M shares |
| 3 years | -1.1% | -3.6M shares |
| 5 years | +28% | +70.3M shares |
| Available history | +55% | +113M shares |
MNKD has 320M diluted shares, up 2.7% 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 MNKD 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.
MNKD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 19.7x | High |
| Q2 2026 | 8.9x | High |
| Q1 2026 | 8.5x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.1x | Net Cash |
MNKD's net debt is about 20 years of its operating earnings (EBITDA), after holding more cash than debt 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 MNKD on leverage, with a lower net debt burden relative to earnings.
MNKD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.4 | Neutral |
| Stochastic | 63.7 | Neutral |
MNKD's weekly RSI is 55 (neutral) and its Stochastic is 64 (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).
MNKD PE vs Healthcare Sector
| Metric | MNKD | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
MNKD 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.
MNKD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.53 | 18% above |
| 20 week MA | $3.82 | 8.9% above |
| 50 week MA | $4.00 | 4% above |
| 100 week MA | $4.48 | 7.1% below |
| 200 week MA | $4.62 | 10% below |
MNKD 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.
MNKD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.37 | $3.42 | +150% |
| 2021 | $3.42 | $4.46 | +30% |
| 2022 | $4.46 | $5.09 | +14% |
| 2023 | $5.09 | $3.64 | -28% |
| 2024 | $3.64 | $6.82 | +87% |
| 2025 | $6.82 | $5.79 | -15% |
| 2026 YTD | $5.79 | $4.16 | -28% |
MNKD has finished higher in four of the last six years, two of them by more than 50%. It's down 28% so far in 2026.
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 the edge over MNKD on returns for 2026, with the stronger performance.