NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
PHR
Phreesia, Inc.
PHR 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.
PHR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
PHR'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 PHR in the historical PE scenario, which offers more potential upside but is not a forecast.
PHR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $12.62 | — |
| Cheap | 59x | $10.60 | -16% |
| Fair | 68x | $12.27 | -2.8% |
| Current | 70x | $12.62 | — |
| Expensive | 215x | $38.67 | +206% |
Historical ranges are pointers, not guarantees.
PHR's PE is 70x, but its earnings don't support one, so it isn't a reliable read right now.
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.
PHR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect PHR's earnings to grow and its profitability to improve, with its 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'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.
PHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.62 | +245% |
| Q3 2026 | $0.18 | +$0.60 |
| Q2 2026 | $0.16 | +$0.90 |
| Q1 2026 | $0.04 | +$1.06 |
| Q4 2025 | -$0.10 | +$1.36 |
| Q3 2025 | -$0.42 | +$1.37 |
| Q2 2025 | -$0.74 | +$1.42 |
| Q1 2025 | -$1.02 | +$1.49 |
| Q4 2024 | -$1.46 | +$1.22 |
PHR has returned to profit: it earned $0.18 per share over the past year, after losing money 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 PHR on profitability, with a higher operating margin.
PHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $129.5M | +10% |
| Q2 2026 | $130.9M | +13% |
| Q1 2026 | $127.1M | +16% |
| Q4 2025 | $120.3M | +13% |
| Q3 2025 | $117.3M | +15% |
| Q2 2025 | $115.9M | +15% |
| Q1 2025 | $109.7M | +15% |
| Q4 2024 | $106.8M | +17% |
PHR's revenue has grown year over year every quarter since late 2020: $129M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.9% | +7.2 points |
| Q2 2026 | 5.2% | +8 points |
| Q1 2026 | -4.4% | +2.6 points |
| Q4 2025 | 3.1% | +16 points |
| Q3 2025 | -1.3% | +16 points |
| Q2 2025 | -2.8% | +16 points |
| Q1 2025 | -6.9% | +24 points |
| Q4 2024 | -13% | +22 points |
PHR's operating margin was 5.9% last quarter, up 7.2 points from the same quarter a year ago, near the top of its range since 2019.
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.
PHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17.8M | +36% |
| Q2 2026 | $19.6M | +73% |
| Q1 2026 | $31.1M | +131% |
| Q4 2025 | $12.2M | +136% |
| Q3 2025 | $13.1M | +97% |
| Q2 2025 | $11.3M | +$12.9M |
| Q1 2025 | $13.5M | +$19M |
| Q4 2024 | $5.2M | +$12.7M |
PHR 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 PHR 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.
PHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +423K shares |
| 1 year | +1.3% | +778K shares |
| 3 years | +16% | +8.7M shares |
| 5 years | +24% | +11.9M shares |
| Available history | +75% | +26.7M shares |
PHR has 62M diluted shares, up 1.3% from a year ago.
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).
PHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | -4.9x | Net Cash |
| Q3 2025 | -44.5x | Net Cash |
PHR 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).
PHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.4 | Neutral |
| Stochastic | 80.7 | Overbought |
PHR's weekly RSI is 57 (neutral) and its Stochastic is 81 (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 PHR on valuation relative to its sector.
PHR PE vs Healthcare Sector
| Metric | PHR | Sector median | Relative |
|---|---|---|---|
| PE | 70x | 26x | 171% above |
| PE % | 56 | 29 | 27 pts above |
PHR is trading at 70x earnings, a 171% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
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.
PHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.5 | 9.4% above |
| 20 week MA | $11.3 | 12% above |
| 50 week MA | $11.8 | 6.8% above |
| 100 week MA | $18.7 | 33% below |
| 200 week MA | $21.9 | 42% below |
PHR 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 the edge over PHR on returns for 2026, with the stronger performance.
PHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.4 | $57.3 | +117% |
| 2021 | $57.3 | $44.2 | -23% |
| 2022 | $44.2 | $33.5 | -24% |
| 2023 | $33.5 | $23.2 | -31% |
| 2024 | $23.2 | $25.8 | +11% |
| 2025 | $25.8 | $17.0 | -34% |
| 2026 YTD | $17.0 | $12.6 | -26% |
PHR has finished lower in four of the last six years. It's down 26% so far in 2026.