MRVI
Maravai LifeSciences Holdings, Inc.
MRVI has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
MRVI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Strong |
MRVI'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.
MRVI PE Valuation
MRVI 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.
MRVI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
MRVI 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.
MRVI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.43 | +$0.44 |
| Q2 2026 | -$0.52 | +$0.87 |
| Q1 2026 | -$0.71 | +$0.46 |
| Q4 2025 | -$0.90 | +$0.15 |
| Q3 2025 | -$0.87 | +$0.77 |
| Q2 2025 | -$1.39 | -$0.40 |
| Q1 2025 | -$1.17 | -$0.18 |
| Q4 2024 | -$1.05 | -$0.15 |
MRVI is still losing money, but far less than before: $0.43 per share over the past year, against $1.64 at its worst in late 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 MRVI on earnings quality, reporting a profit while its opponent remains loss making.
MRVI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $45.9M | +10% |
| Q2 2026 | $51.4M | +8.5% |
| Q1 2026 | $65.8M | +41% |
| Q4 2025 | $49.9M | -12% |
| Q3 2025 | $41.6M | -36% |
| Q2 2025 | $47.4M | -35% |
| Q1 2025 | $46.9M | -27% |
| Q4 2024 | $56.6M | -24% |
MRVI's revenue is recovering but still below its 2022 peak: $46M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -45% | +54 points |
| Q2 2026 | -29% | +111 points |
| Q1 2026 | -3.3% | +102 points |
| Q4 2025 | -118% | -51 points |
| Q3 2025 | -99% | +161 points |
| Q2 2025 | -140% | -127 points |
| Q1 2025 | -105% | -76 points |
| Q4 2024 | -67% | -57 points |
MRVI's operating margin was −45% last quarter, up 54 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 MRVI 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 MRVI on profitability, with a higher operating margin.
MRVI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.5M | +$22.6M |
| Q2 2026 | $3.6M | +$16.8M |
| Q1 2026 | $4.2M | +$18.9M |
| Q4 2025 | -$24.9M | -$4.4M |
| Q3 2025 | -$18.1M | -498% |
| Q2 2025 | -$13.1M | -267% |
| Q1 2025 | -$14.6M | -$493K |
| Q4 2024 | -$20.5M | -$11.5M |
MRVI's free cash flow was −$13M over the past year, against −$66M 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 MRVI on cash generation, producing positive trailing cash flow while its opponent burns cash.
MRVI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +1.1M shares |
| 1 year | +3% | +4.4M shares |
| 3 years | +13% | +17.1M shares |
| 5 years | +33% | +36.8M shares |
| Available history | +54% | +52.4M shares |
MRVI has 149M diluted shares, up 3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
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 MRVI 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.
MRVI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | -5.9x | Net Cash |
| Q3 2023 | -0.5x | Net Cash |
| Q2 2023 | -0.2x | Net Cash |
| Q1 2023 | -0.2x | Net Cash |
| Q4 2022 | -0.2x | Net Cash |
| Q3 2022 | -0.1x | Net Cash |
| Q2 2022 | -0.0x | Net Cash |
| Q1 2022 | 0.2x | Very low |
MRVI 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).
MRVI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.8 | Neutral |
| Stochastic | 55.9 | Neutral |
MRVI's weekly RSI is 59 (neutral) and its Stochastic is 56 (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).
MRVI PE vs Healthcare Sector
| Metric | MRVI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
MRVI 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.
MRVI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.51 | 2.3% above |
| 20 week MA | $7.09 | 8.3% above |
| 50 week MA | $5.11 | 50% above |
| 100 week MA | $4.09 | 88% above |
| 200 week MA | $6.78 | 13% above |
MRVI 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.
MRVI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.9 | $29.7 | -0.5% |
| 2021 | $29.7 | $42.0 | +41% |
| 2022 | $42.0 | $14.0 | -67% |
| 2023 | $14.0 | $6.55 | -53% |
| 2024 | $6.55 | $5.50 | -16% |
| 2025 | $5.50 | $3.27 | -41% |
| 2026 YTD | $3.27 | $7.68 | +135% |
MRVI 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.