NVO
Novo Nordisk A/S
NVO has the edge over PETS overall, supported by lower modeled downside and stronger fundamentals.
PETS
PetMed Express, Inc.
PETS offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
PETS Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Weak | |
| Strong |
PETS's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
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.
PETS PE Valuation
PETS has no meaningful PE right now: it lost money over the past year.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
NVO has the edge over PETS on the outlook, with more favorable earnings and revenue expectations.
PETS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong decline | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect PETS's losses to grow, with revenue declining.
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 PETS on earnings quality, reporting a profit while its opponent remains loss making.
PETS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.27 | +$1.38 |
| Q2 2026 | -$1.37 | +$0.76 |
| Q1 2026 | -$2.74 | -$2.44 |
| Q4 2025 | -$3.12 | -15700% |
| Q3 2025 | -$2.65 | -$2.60 |
| Q2 2025 | -$2.13 | -$2.00 |
| Q1 2025 | -$0.30 | +$0.07 |
| Q4 2024 | $0.02 | +$0.17 |
PETS lost $1.27 per share over the past year, a smaller loss than 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 PETS 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 PETS on profitability, with a higher operating margin.
PETS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $35.8M | -19% |
| Q2 2026 | $41M | -20% |
| Q1 2026 | $42.8M | -16% |
| Q4 2025 | $40.7M | -23% |
| Q3 2025 | $44.4M | -26% |
| Q2 2025 | $51.2M | -25% |
| Q1 2025 | $50.8M | -24% |
| Q4 2024 | $53M | -19% |
PETS's revenue has slid since its 2020 peak: $36M last quarter, down 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -18% | +0.9 points |
| Q2 2026 | -15% | +52 points |
| Q1 2026 | -13% | -1.4 points |
| Q4 2025 | -26% | -25 points |
| Q3 2025 | -19% | -20 points |
| Q2 2025 | -67% | -73 points |
| Q1 2025 | -12% | -6.1 points |
| Q4 2024 | -0.8% | +3.9 points |
PETS's operating margin was −18% last quarter, up 0.9 points from 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 PETS on cash generation, producing positive trailing cash flow while its opponent burns cash.
PETS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6M | +$3.2M |
| Q2 2026 | -$8.3M | +$5.2M |
| Q1 2026 | -$5.5M | -218% |
| Q4 2025 | -$9.2M | -$7.2M |
| Q3 2025 | -$4.8M | -178% |
| Q2 2025 | -$13.6M | -$4.4M |
| Q1 2025 | $4.6M | -21% |
| Q4 2024 | -$1.9M | +$1.8M |
PETS has burned cash in seven of the last eight quarters: −$25M over the past year, against −$16M 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 the edge over PETS 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.
PETS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.8% | -610K shares |
| 1 year | +0.9% | +183K shares |
| 3 years | +1.4% | +292K shares |
| 5 years | +2.5% | +504K shares |
| Available history | +5.4% | +1.1M shares |
PETS has 21M diluted shares, up 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $1,000 |
| Q4 2019 | — |
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).
PETS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2025 | -9.9x | Net Cash |
| Q4 2024 | -6.7x | Net Cash |
| Q3 2024 | -10.3x | Net Cash |
| Q2 2024 | -8.4x | Net Cash |
| Q4 2023 | -22.5x | Net Cash |
| Q3 2023 | -14.6x | Net Cash |
| Q2 2023 | -12.6x | Net Cash |
| Q1 2023 | -10.9x | Net Cash |
PETS has more cash than debt.
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).
PETS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 23.8 | Oversold |
| Stochastic | 5.8 | Oversold |
PETS's weekly RSI is 24 (oversold) and its Stochastic is 6 (oversold).
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.
PETS PE vs Healthcare Sector
| Metric | PETS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
PETS has no meaningful PE right now: it lost money over the past year.
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 the edge over PETS on trend strength, trading above more of its moving averages.
PETS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.25 | 21% below |
| 20 week MA | $1.62 | 39% below |
| 50 week MA | $2.19 | 55% below |
| 100 week MA | $2.86 | 65% below |
| 200 week MA | $5.88 | 83% below |
PETS is in a downtrend: it's below all five of its weekly moving averages, and 83% below its 200-week average.
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 the edge over PETS on returns for 2026, with the stronger performance.
PETS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.1 | $33.8 | +46% |
| 2021 | $33.8 | $26.4 | -22% |
| 2022 | $26.4 | $18.1 | -31% |
| 2023 | $18.1 | $7.56 | -58% |
| 2024 | $7.56 | $5.16 | -32% |
| 2025 | $5.16 | $3.47 | -33% |
| 2026 YTD | $3.47 | $0.99 | -71% |
PETS has finished five years in a row lower, and it's down 71% so far in 2026.