NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
PGNY
Progyny, Inc.
PGNY has the edge over NVO overall, supported by stronger valuation and stronger fundamentals.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
PGNY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
PGNY's profitability, cash flow and balance sheet are currently healthy, and its revenue is 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 has the edge over PGNY in the historical PE scenario, which offers more potential upside but is not a forecast.
PGNY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 24x | $36.58 | — |
| Cheap | 32x | $34.56 | -5.5% |
| Current | 34x | $36.58 | — |
| Fair | 43x | $46.46 | +27% |
| Expensive | 91x | $98.79 | +170% |
Historical ranges are pointers, not guarantees.
PGNY's PE is in its cheap range at 34x. If earnings grow as analysts expect, today's price would be 24x next year's earnings.
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.
PGNY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
PGNY 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 PGNY on earnings, with more consistent year-over-year improvement.
PGNY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.54 | +41% |
| Q3 2026 | $1.09 | +73% |
| Q2 2026 | $0.92 | +56% |
| Q1 2026 | $0.77 | +35% |
| Q4 2025 | $0.65 | +14% |
| Q3 2025 | $0.63 | +8.6% |
| Q2 2025 | $0.59 | -6.3% |
| Q1 2023 | $0.43 | -23% |
| Q4 2022 | $0.30 | -55% |
PGNY earned $1.09 per share over the past year, up 73% from 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'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 PGNY on profitability, with a higher operating margin.
PGNY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.3M | +8.9% |
| Q2 2026 | $350.5M | +5.3% |
| Q1 2026 | $328.5M | +1.4% |
| Q4 2025 | $318.4M | +6.7% |
| Q3 2025 | $313.3M | +9.3% |
| Q2 2025 | $332.9M | +9.5% |
| Q1 2025 | $324M | +17% |
| Q4 2024 | $298.4M | +11% |
PGNY's revenue has grown year over year every quarter since late 2020: $341M last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 10% | +3.4 points |
| Q2 2026 | 11% | +4.1 points |
| Q1 2026 | 11% | +3.3 points |
| Q4 2025 | 4.8% | -0.5 points |
| Q3 2025 | 6.9% | +2.5 points |
| Q2 2025 | 7.3% | +0.5 points |
| Q1 2025 | 7.5% | +0.8 points |
| Q4 2024 | 5.3% | +0.2 points |
PGNY's operating margin was 10% last quarter, up 3.4 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 PGNY on cash flow, with more consistent year-over-year improvement.
PGNY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $47.2M | +2.7% |
| Q2 2026 | $44.2M | -12% |
| Q1 2026 | $39.6M | -16% |
| Q4 2025 | $48.6M | -3.3% |
| Q3 2025 | $46M | +7.6% |
| Q2 2025 | $50.2M | -10% |
| Q1 2025 | $47M | +89% |
| Q4 2024 | $50.3M | +36% |
PGNY generated $180M in free cash flow over the past year, down 7.1% from 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.
PGNY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -969K shares |
| 1 year | -10% | -9.1M shares |
| 3 years | -20% | -19.7M shares |
| 5 years | -19% | -19.2M shares |
| Available history | +26% | +17M shares |
PGNY has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $82.8M |
| Q2 2026 | $30M |
| Q1 2026 | $118.6M |
| Q4 2025 | $81.7M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $55.1M |
PGNY spent $313M buying back its own shares over the past year, about six times what it spent the year before.
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).
PGNY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -1.3x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.2x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.4x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
PGNY 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).
PGNY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.2 | Overbought |
| Stochastic | 84.8 | Overbought |
PGNY's weekly RSI is 73 (overbought) and its Stochastic is 85 (overbought).
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 PGNY on valuation relative to its sector.
PGNY PE vs Healthcare Sector
| Metric | PGNY | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 26x | 30% above |
| PE % | 21 | 29 | 8 pts below |
PGNY is trading at 34x earnings, a 30% 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.
PGNY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.4 | 25% above |
| 20 week MA | $28.8 | 27% above |
| 50 week MA | $25.0 | 46% above |
| 100 week MA | $23.3 | 57% above |
| 200 week MA | $27.3 | 34% above |
PGNY 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.
PGNY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.0 | $42.2 | +51% |
| 2021 | $42.2 | $51.5 | +22% |
| 2022 | $51.5 | $30.8 | -40% |
| 2023 | $30.8 | $37.2 | +21% |
| 2024 | $37.2 | $16.9 | -55% |
| 2025 | $16.9 | $25.8 | +53% |
| 2026 YTD | $25.8 | $36.6 | +42% |
PGNY has the edge over NVO on returns for 2026, with the stronger performance.