NVO
Novo Nordisk A/S
NVO's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 3 points to 43%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
PVLA
Palvella Therapeutics, Inc.
There isn't enough reported data to score PVLA yet.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
PVLA Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Unavailable | |
| Unavailable |
PVLA's revenue and profitability are currently weak. There isn't enough data to rate its cash flow and balance sheet.
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.
PVLA PE Valuation
PVLA has no meaningful PE right now: it lost money over the past year.
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.
PVLA Forward outlook
There aren't enough analyst estimates for PVLA to show an outlook.
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 stronger earnings trend. Trailing diluted EPS is up 4.9% for NVO versus PVLA down 142%.
PVLA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$12.97 | +$14.97 |
| Q2 2024 | -$19.58 | +$9.96 |
| Q1 2024 | -$12.82 | +$31.92 |
| Q4 2023 | -$23.27 | +$12.67 |
| Q3 2023 | -$27.94 | +$11.26 |
| Q2 2023 | -$29.54 | +$18.46 |
| Q1 2023 | -$44.74 | +$12.06 |
| Q4 2022 | -$35.94 | +$20.86 |
PVLA is still losing money, but far less than before: $5.50 per share over the past year, against $67.20 at its worst in mid-2021.
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 stronger quarterly revenue trend. Revenue is up 2.1% for NVO versus down 100% for PVLA.
| 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's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
PVLA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2024 | $53K | -97% |
| Q4 2023 | $1.3M | -78% |
| Q3 2023 | $19.5M | +264% |
| Q2 2023 | $20.1M | +442% |
| Q1 2023 | $1.9M | -82% |
| Q4 2022 | $5.8M | -31% |
| Q3 2022 | $5.4M | +32% |
| Q2 2022 | $3.7M | +13% |
PVLA's revenue has slid since its 2023 peak: $0 last quarter, down 100% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2024 | -10006% | -9205 points |
| Q4 2023 | -347% | -150 points |
| Q3 2023 | -60% | +166 points |
| Q2 2023 | 10% | +344 points |
| Q1 2023 | -801% | -733 points |
| Q4 2022 | -197% | -67 points |
| Q3 2022 | -227% | +242 points |
| Q2 2022 | -333% | +177 points |
PVLA's operating margin was −10006% last quarter, down 9204 points from the same quarter a year ago, near the bottom 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 has the edge over PVLA on cash generation, producing positive trailing cash flow while its opponent burns cash.
PVLA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$14.4M | -$6.6M |
| Q2 2026 | -$12.8M | -$7.4M |
| Q1 2026 | -$10.9M | -$4.1M |
| Q4 2025 | -$4.9M | -$2.4M |
| Q3 2025 | -$7.9M | -5496% |
| Q2 2025 | -$5.4M | -$4M |
| Q1 2025 | -$6.8M | +$228K |
| Q4 2024 | -$2.5M | +$17.1M |
PVLA has burned cash in almost every quarter: −$43M over the past year, against −$23M 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 PVLA 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.
PVLA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +175K shares |
| 1 year | +31% | +3.5M shares |
| 3 years | +1460% | +13.6M shares |
| 5 years | +1965% | +13.8M shares |
| Available history | +2196% | +13.9M shares |
PVLA has 15M diluted shares, up 31% 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).
PVLA Net Leverage
PVLA's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
PVLA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.2 | Neutral |
| Stochastic | 73.5 | Neutral |
PVLA's weekly RSI is 55 (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 is trading at 10x earnings, a 60% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
PVLA PE vs Healthcare Sector
PVLA 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 bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
PVLA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $141.3 | 8.4% above |
| 20 week MA | $146.0 | 4.9% above |
| 50 week MA | $124.4 | 23% above |
| 100 week MA | $81.0 | 89% above |
| 200 week MA | $56.7 | 170% above |
PVLA 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.
PVLA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $265.6 | $219.2 | -17% |
| 2021 | $219.2 | $293.6 | +34% |
| 2022 | $293.6 | $72.8 | -75% |
| 2023 | $72.8 | $14.6 | -80% |
| 2024 | $14.6 | $12.0 | -18% |
| 2025 | $12.0 | $103.4 | +761% |
| 2026 YTD | $103.4 | $153.2 | +48% |
PVLA has the edge over NVO on returns for 2026, with the stronger performance.