NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
NVST
Envista Holdings Corp
NVST has the edge over NVO overall, supported by stronger valuation and stronger modeled upside.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
NVST Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Stable | |
| Strong |
NVST's profitability and balance sheet are currently strong, and its revenue and cash flow are stable.
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.
NVST PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 6.4x | $24.66 | — |
| Forward | 15x | $24.66 | — |
| Cheap | 21x | $81.70 | +231% |
| Fair | 28x | $108 | +339% |
| Expensive | 95x | $368 | +1394% |
Historical ranges are pointers, not guarantees.
NVST has the edge over NVO in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
NVST Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
NVST has the edge over NVO on the outlook, with more favorable earnings and profitability expectations.
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 NVST on earnings, with more consistent year-over-year improvement.
NVST Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.62 | -58% |
| Q3 2026 | $3.87 | +4738% |
| Q2 2026 | $0.58 | +87% |
| Q1 2026 | $0.41 | +$6.95 |
| Q4 2025 | $0.28 | +$6.78 |
| Q3 2025 | $0.08 | +$7.84 |
| Q2 2025 | $0.31 | +$8.00 |
| Q1 2025 | -$6.54 | -$5.83 |
| Q4 2024 | -$6.50 | -$5.90 |
NVST's earnings per share have jumped to their highest in seven years: $3.87 over the past year, up from $0.08 the year before.
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 NVST on sales, with stronger typical year-over-year growth.
| 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's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
NVST Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $691.5M | +3.2% |
| Q2 2026 | $730.5M | +7.1% |
| Q1 2026 | $705.5M | +14% |
| Q4 2025 | $750.6M | +15% |
| Q3 2025 | $669.9M | +11% |
| Q2 2025 | $682.1M | +7.7% |
| Q1 2025 | $616.9M | -1.1% |
| Q4 2024 | $652.9M | +1.1% |
NVST's revenue has grown year over year for six quarters in a row: $692M last quarter, up 3.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 75% | +66 points |
| Q2 2026 | 11% | +4.2 points |
| Q1 2026 | 8.9% | +2.5 points |
| Q4 2025 | 9.8% | +2.7 points |
| Q3 2025 | 8.6% | +5.1 points |
| Q2 2025 | 6.8% | +189 points |
| Q1 2025 | 6.3% | -1.4 points |
| Q4 2024 | 7.1% | +39 points |
NVST has the edge over NVO on profitability, with a higher operating margin.
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 NVST on cash flow, with more consistent year-over-year improvement.
NVST Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | -9% |
| Q2 2026 | $104.3M | +37% |
| Q1 2026 | -$15.8M | -$10.2M |
| Q4 2025 | $91.7M | -26% |
| Q3 2025 | $67.9M | +7.3% |
| Q2 2025 | $76.4M | -11% |
| Q1 2025 | -$5.6M | -119% |
| Q4 2024 | $123.8M | +32% |
NVST still generates free cash flow, though less than at its 2020 peak: $242M 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 4.4B diluted shares, about the same as a year ago.
| 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.
NVST Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -700K shares |
| 1 year | -1.6% | -2.7M shares |
| 3 years | -6.7% | -11.8M shares |
| 5 years | -8.3% | -14.7M shares |
| Available history | +20% | +27M shares |
NVST has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $10M |
| Q2 2026 | $60.3M |
| Q1 2026 | $42.7M |
| Q4 2025 | $24.3M |
| Q3 2025 | $42M |
| Q2 2025 | $85.7M |
| Q1 2025 | $14.6M |
NVST spent $137M buying back its own shares over the past year.
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).
NVST Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2024 | 12.5x | High |
| Q4 2023 | 8.5x | High |
NVST has the edge over NVO on leverage, with a lower net debt burden relative to earnings.
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).
NVST Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 33.0 | Neutral |
NVST's weekly RSI is 49 (neutral) and its Stochastic is 33 (neutral).
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.
NVST PE vs Healthcare Sector
| Metric | NVST | Sector median | Relative |
|---|---|---|---|
| PE | 6.4x | 26x | 75% below |
| PE % | 0 | 29 | 29 pts below |
NVST has the edge over NVO on valuation relative to its sector.
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.
NVST Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.8 | 3.7% above |
| 20 week MA | $25.5 | 3.4% below |
| 50 week MA | $25.2 | 2.2% below |
| 100 week MA | $22.3 | 11% above |
| 200 week MA | $24.1 | 2.3% above |
NVST has the edge over NVO on trend strength, trading above more of its moving averages.
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.
NVST Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.0 | $32.4 | +8.1% |
| 2021 | $32.4 | $45.7 | +41% |
| 2022 | $45.7 | $33.1 | -28% |
| 2023 | $33.1 | $24.1 | -27% |
| 2024 | $24.1 | $19.2 | -20% |
| 2025 | $19.2 | $22.0 | +14% |
| 2026 YTD | $22.0 | $24.7 | +12% |
NVST has the edge over NVO on returns for 2026, with the stronger performance.