NBIX
Neurocrine Biosciences, Inc.
NBIX has the edge over NVO overall, supported by stronger fundamentals and stronger valuation.
NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
NBIX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NBIX's revenue, profitability, cash flow and balance sheet are all currently strong.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
NBIX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $169 | — |
| Cheap | 25x | $169 | -0.3% |
| Current | 25x | $169 | — |
| Fair | 44x | $297 | +75% |
| Expensive | 145x | $981 | +479% |
Historical ranges are pointers, not guarantees.
NBIX's PE is in its cheap range at 25x. If earnings grow as analysts expect, today's price would be 19x 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 has the edge over NBIX in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
NBIX 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.
NBIX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.06 | +34% |
| Q3 2026 | $6.75 | +61% |
| Q2 2026 | $6.83 | +102% |
| Q1 2026 | $6.50 | +120% |
| Q4 2025 | $4.67 | +42% |
| Q3 2025 | $4.18 | +11% |
| Q2 2025 | $3.38 | +0.6% |
| Q1 2025 | $2.95 | -20% |
| Q4 2024 | $3.29 | +33% |
NBIX earned $6.75 per share over the past year, up 61% from 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'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.
NBIX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +41% |
| Q2 2026 | $959M | +39% |
| Q1 2026 | $814.5M | +42% |
| Q4 2025 | $805.5M | +28% |
| Q3 2025 | $794.9M | +28% |
| Q2 2025 | $687.5M | +16% |
| Q1 2025 | $572.6M | +11% |
| Q4 2024 | $627.7M | +22% |
NBIX has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -0.6 points |
| Q2 2026 | 16% | -5.4 points |
| Q1 2026 | 24% | +20 points |
| Q4 2025 | 26% | +3.6 points |
| Q3 2025 | 30% | +0.5 points |
| Q2 2025 | 21% | -3.5 points |
| Q1 2025 | 4.1% | -15 points |
| Q4 2024 | 23% | -6.6 points |
NBIX's operating margin was 30% last quarter, down 0.6 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 NBIX on profitability, with a higher operating margin.
NBIX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $383.6M | +79% |
| Q2 2026 | $128.6M | +44% |
| Q1 2026 | $136.7M | +153% |
| Q4 2025 | $390.8M | +66% |
| Q3 2025 | $214.3M | +43% |
| Q2 2025 | $89.5M | +69% |
| Q1 2025 | $54.1M | -55% |
| Q4 2024 | $235.2M | +99% |
NBIX 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.
NBIX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +1M shares |
| 1 year | +2.6% | +2.7M shares |
| 3 years | +4.1% | +4.1M shares |
| 5 years | +7.7% | +7.5M shares |
| Available history | +8.2% | +8M shares |
NBIX has 105M diluted shares, up 2.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $92.1M |
| Q2 2026 | $12M |
| Q1 2026 | $54M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $17.7M |
| Q1 2025 | $150M |
NBIX spent $158M buying back its own shares over the past year.
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 NBIX 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.
NBIX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
NBIX 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).
NBIX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.7 | Neutral |
| Stochastic | 65.8 | Neutral |
NBIX's weekly RSI is 62 (neutral) and its Stochastic is 66 (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).
NBIX PE vs Healthcare Sector
| Metric | NBIX | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 26x | 2.9% below |
| PE % | 17 | 29 | 12 pts below |
NBIX is trading at 25x earnings, in line with 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 NBIX on valuation relative to its sector.
NBIX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $147.8 | 15% above |
| 20 week MA | $156.4 | 8.3% above |
| 50 week MA | $147.5 | 15% above |
| 100 week MA | $138.4 | 22% above |
| 200 week MA | $128.9 | 31% above |
NBIX 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.
NBIX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $108.4 | $97.7 | -9.9% |
| 2021 | $97.7 | $85.1 | -13% |
| 2022 | $85.1 | $120.3 | +41% |
| 2023 | $120.3 | $131.8 | +9.5% |
| 2024 | $131.8 | $139.4 | +5.8% |
| 2025 | $139.4 | $145.3 | +4.2% |
| 2026 YTD | $145.3 | $169.4 | +17% |
NBIX 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.