NVO
Novo Nordisk A/S
NVO has the edge over PFE overall, supported by stronger valuation and stronger modeled upside.
PFE
Pfizer Inc.
PFE trails on the overall score without a compensating advantage in the available component scores.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
PFE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Strong | |
| Weak |
PFE's cash flow is currently strong, and its revenue and profitability are stable, but its balance sheet is weak.
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 PFE in the historical PE scenario, which offers more potential upside but is not a forecast.
PFE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.7x | $6.78 | -76% |
| Forward | 10x | $28.83 | — |
| Fair | 15x | $10.59 | -63% |
| Expensive | 24x | $16.53 | -43% |
| Current | 41x | $28.83 | — |
Historical ranges are pointers, not guarantees.
PFE's PE is in its expensive range at 41x. On analysts' estimates for next year's earnings, today's price would be 10x, in its cheap 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.
PFE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect PFE's profitability to improve, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
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 PFE on earnings, with more consistent year-over-year improvement.
PFE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.83 | +304% |
| Q3 2026 | $0.70 | -59% |
| Q2 2026 | $0.76 | -60% |
| Q1 2026 | $1.31 | -5.1% |
| Q4 2025 | $1.36 | -3.5% |
| Q3 2025 | $1.72 | +129% |
| Q2 2025 | $1.88 | +$2.33 |
| Q1 2025 | $1.38 | +$1.43 |
| Q4 2024 | $1.41 | +281% |
PFE's earnings per share have fallen from their peak: $0.70 over the past year, against $5.47 in late 2022.
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 PFE 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 PFE on profitability, with a higher operating margin.
PFE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $16.6B | -0.4% |
| Q2 2026 | $15B | +2.6% |
| Q1 2026 | $14.5B | +5.4% |
| Q4 2025 | $17.6B | -1.2% |
| Q3 2025 | $16.7B | -5.9% |
| Q2 2025 | $14.7B | +10% |
| Q1 2025 | $13.7B | -7.8% |
| Q4 2024 | $17.8B | +25% |
PFE's revenue fell from its 2022 peak and has held roughly level since: $16.6B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +0.4 points |
| Q2 2026 | -4.3% | -25 points |
| Q1 2026 | 22% | +1.6 points |
| Q4 2025 | -9.3% | -9.3 points |
| Q3 2025 | 20% | -6.6 points |
| Q2 2025 | 21% | +22 points |
| Q1 2025 | 20% | -2.7 points |
| Q4 2024 | -0.1% | +29 points |
PFE's operating margin was 20% 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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
PFE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.8B | +20% |
| Q2 2026 | $302M | +$1.5B |
| Q1 2026 | $2.2B | +23% |
| Q4 2025 | $4.5B | -22% |
| Q3 2025 | $4B | -34% |
| Q2 2025 | -$1.2B | +$1.2B |
| Q1 2025 | $1.8B | +359% |
| Q4 2024 | $5.8B | +38% |
PFE has the edge over NVO on cash flow, with more consistent year-over-year improvement.
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 PFE 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.
PFE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +52M shares |
| 1 year | +0.6% | +37M shares |
| 3 years | +1.9% | +105M shares |
| 5 years | +0.5% | +26M shares |
| Available history | -3.9% | -230M shares |
PFE has 5.8B diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | $2B |
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 has the edge over PFE on leverage, with a lower net debt burden relative to earnings.
PFE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.8x | High |
| Q1 2026 | 4.3x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 3.8x | Elevated |
| Q2 2025 | 3.5x | Elevated |
| Q1 2025 | 4.3x | High |
| Q4 2024 | 4.2x | High |
PFE's net debt is about 5.7 years of its operating earnings (EBITDA), up from 3.8 years a year ago.
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).
PFE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.8 | Neutral |
| Stochastic | 72.5 | Neutral |
PFE's weekly RSI is 57 (neutral) and its Stochastic is 73 (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 PFE on valuation relative to its sector.
PFE PE vs Healthcare Sector
| Metric | PFE | Sector median | Relative |
|---|---|---|---|
| PE | 41x | 26x | 59% above |
| PE % | 97 | 29 | 68 pts above |
PFE is trading at 41x earnings, a 59% premium 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.
PFE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.1 | 1.1% below |
| 20 week MA | $27.5 | 4.9% above |
| 50 week MA | $26.8 | 7.7% above |
| 100 week MA | $25.8 | 12% above |
| 200 week MA | $29.0 | 0.4% below |
PFE 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.
PFE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.3 | $37.3 | 0% |
| 2021 | $37.3 | $58.7 | +58% |
| 2022 | $58.7 | $51.8 | -12% |
| 2023 | $51.8 | $28.8 | -44% |
| 2024 | $28.8 | $26.6 | -7.5% |
| 2025 | $26.6 | $25.1 | -5.7% |
| 2026 YTD | $25.1 | $28.8 | +15% |
PFE has the edge over NVO on returns for 2026, with the stronger performance.