MRNA
Moderna, Inc.
There isn't enough reported data to score MRNA yet.
NVO
Novo Nordisk A/S
NVO's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 3 points to 43%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
MRNA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Strong |
MRNA's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are under pressure.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
MRNA PE Valuation
MRNA 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.
MRNA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect MRNA's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
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.
MRNA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$7.09 | +$0.98 |
| Q2 2026 | -$7.98 | -$0.45 |
| Q1 2026 | -$8.14 | +$0.59 |
| Q4 2025 | -$7.26 | +$2.02 |
| Q3 2025 | -$8.07 | -$2.33 |
| Q2 2025 | -$7.53 | +$7.77 |
| Q1 2025 | -$8.73 | +$6.86 |
| Q4 2024 | -$9.28 | +$3.05 |
MRNA is still losing money, but far less than before: $7.09 per share over the past year, against $15.59 at its worst in early 2024.
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 MRNA on earnings quality, reporting a profit while its opponent remains loss making.
MRNA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +29% |
| Q2 2026 | $145M | +2.1% |
| Q1 2026 | $389M | +260% |
| Q4 2025 | $678M | -30% |
| Q3 2025 | $1B | -45% |
| Q2 2025 | $142M | -41% |
| Q1 2025 | $108M | -35% |
| Q4 2024 | $966M | -66% |
MRNA's revenue is recovering but still below its 2021 peak: $1.3B last quarter, up 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | +36 points |
| Q2 2026 | -562% | +77 points |
| Q1 2026 | -357% | +615 points |
| Q4 2025 | -126% | +2.6 points |
| Q3 2025 | -26% | -22 points |
| Q2 2025 | -639% | -73 points |
| Q1 2025 | -972% | -214 points |
| Q4 2024 | -129% | -129 points |
MRNA's operating margin was 9.9% last quarter, up 35 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 has the edge over MRNA on sales, with more consistent year-over-year improvement.
| 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 MRNA on profitability, with a higher operating margin.
MRNA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$726M |
| Q2 2026 | -$563M | +$359M |
| Q1 2026 | -$692M | +$462M |
| Q4 2025 | $891M | +194% |
| Q3 2025 | -$880M | +$837M |
| Q2 2025 | -$922M | +$534M |
| Q1 2025 | -$1.2B | +$31M |
| Q4 2024 | $303M | -25% |
MRNA has burned cash in six of the last eight quarters: −$2B over the past year, against −$2.7B 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 MRNA on cash generation, producing positive trailing cash flow while its opponent burns cash.
MRNA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +8% | +32M shares |
| 1 year | +10% | +40M shares |
| 3 years | +13% | +49M shares |
| 5 years | -0.9% | -4M shares |
| Available history | +30% | +99.2M shares |
MRNA has 430M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $1M |
| Q2 2023 | $628M |
| Q1 2023 | $526M |
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 MRNA 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.
MRNA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2023 | -4.4x | Net Cash |
| Q1 2023 | -0.7x | Net Cash |
| Q4 2022 | -0.3x | Net Cash |
| Q3 2022 | -0.2x | Net Cash |
| Q2 2022 | -0.2x | Net Cash |
| Q1 2022 | -0.3x | Net Cash |
| Q4 2021 | -0.5x | Net Cash |
| Q3 2021 | -0.7x | Net Cash |
MRNA has more cash than debt.
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).
MRNA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.5 | Overbought |
| Stochastic | 85.1 | Overbought |
MRNA's weekly RSI is 71 (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).
MRNA PE vs Healthcare Sector
| Metric | MRNA | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
MRNA 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.
MRNA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $217.4 | 6.4% above |
| 20 week MA | $145.4 | 59% above |
| 50 week MA | $86.0 | 169% above |
| 100 week MA | $57.8 | 300% above |
| 200 week MA | $82.4 | 181% above |
MRNA 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.
MRNA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.5 | $123.4 | +532% |
| 2021 | $123.4 | $250.0 | +103% |
| 2022 | $250.0 | $199.1 | -20% |
| 2023 | $199.1 | $99.5 | -50% |
| 2024 | $99.5 | $40.1 | -60% |
| 2025 | $40.1 | $31.2 | -22% |
| 2026 YTD | $31.2 | $231.4 | +642% |
MRNA 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.