NVO
Novo Nordisk A/S
NVO has slightly lower modeled downside risk, despite its lower overall score.
PDEX
Pro-Dex, Inc.
PDEX has the edge over NVO overall, supported by stronger fundamentals 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.
PDEX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
PDEX's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 PDEX in the historical PE scenario, which offers more potential upside but is not a forecast.
PDEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $52.76 | -22% |
| Fair | 18x | $65.13 | -3.4% |
| Current | 19x | $67.42 | — |
| Forward | 21x | $67.42 | — |
| Expensive | 24x | $88.76 | +32% |
Historical ranges are pointers, not guarantees.
PDEX's PE is in its fair range at 19x. On analysts' estimates for next year's earnings, today's price would be 21x, in its expensive range.
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.
PDEX Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
PDEX 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'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.
PDEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.18 | -13% |
| Q3 2026 | $3.64 | +9.6% |
| Q2 2026 | $4.12 | +54% |
| Q1 2026 | $3.59 | +29% |
| Q4 2025 | $3.37 | +69% |
| Q3 2025 | $3.32 | +118% |
| Q2 2025 | $2.67 | +345% |
| Q1 2025 | $2.78 | +415% |
| Q4 2024 | $1.99 | +180% |
PDEX has the edge over NVO on earnings, with stronger typical year-over-year growth.
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 PDEX on profitability, with a higher operating margin.
PDEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.6M | +11% |
| Q2 2026 | $20.4M | +17% |
| Q1 2026 | $19.9M | +15% |
| Q4 2025 | $18.7M | +11% |
| Q3 2025 | $18.5M | +24% |
| Q2 2025 | $17.5M | +16% |
| Q1 2025 | $17.4M | +22% |
| Q4 2024 | $16.8M | +33% |
PDEX has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +0.3 points |
| Q2 2026 | 17% | +9.6 points |
| Q1 2026 | 16% | -5.4 points |
| Q4 2025 | 17% | +1.4 points |
| Q3 2025 | 17% | -3.4 points |
| Q2 2025 | 7.7% | -8 points |
| Q1 2025 | 21% | +5.4 points |
| Q4 2024 | 16% | +9.9 points |
PDEX's operating margin was 17% last quarter, about level with the same quarter a year ago.
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 PDEX on cash flow, with more consistent year-over-year improvement.
PDEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.1M | +178% |
| Q2 2026 | -$476K | -$303K |
| Q1 2026 | $1.5M | +165% |
| Q4 2025 | $3.5M | +$8.2M |
| Q3 2025 | $2.2M | +52% |
| Q2 2025 | -$173K | -117% |
| Q1 2025 | $574K | -86% |
| Q4 2024 | -$4.7M | -6194% |
PDEX's free cash flow has turned positive again: $11M over the past year, against −$2M the year before.
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.
PDEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -1.6K shares |
| 1 year | -0.7% | -23.4K shares |
| 3 years | -8.8% | -322K shares |
| 5 years | -17% | -660K shares |
PDEX has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $600,000 |
| Q2 2026 | $600,000 |
| Q1 2026 | $601,000 |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $1.2M |
| Q3 2024 | $2.3M |
| Q2 2024 | $1.7M |
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).
PDEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.3x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.4x | Healthy |
PDEX 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).
PDEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.7 | Neutral |
| Stochastic | 34.8 | Neutral |
PDEX's weekly RSI is 56 (neutral) and its Stochastic is 35 (neutral).
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 PDEX on valuation relative to its sector.
PDEX PE vs Healthcare Sector
| Metric | PDEX | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 26x | 28% below |
| PE % | 55 | 29 | 26 pts above |
PDEX is trading at 19x earnings, a 28% discount to the Healthcare sector's median of 26x.
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.
PDEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $63.4 | 6.3% above |
| 20 week MA | $63.6 | 6% above |
| 50 week MA | $54.9 | 23% above |
| 100 week MA | $48.6 | 39% above |
| 200 week MA | $34.6 | 95% above |
PDEX 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.
PDEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.6 | $39.5 | +137% |
| 2021 | $39.5 | $23.6 | -40% |
| 2022 | $23.6 | $16.4 | -30% |
| 2023 | $16.4 | $17.5 | +6.8% |
| 2024 | $17.5 | $49.3 | +181% |
| 2025 | $49.3 | $39.5 | -20% |
| 2026 YTD | $39.5 | $67.4 | +71% |
PDEX has the edge over NVO on returns for 2026, with the stronger performance.