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.
QTTB
Q32 Bio Inc.
There isn't enough reported data to score QTTB 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.
QTTB Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Under pressure | |
| Unavailable | |
| Strong |
QTTB's balance sheet is currently strong, but its revenue and profitability are under pressure. There isn't enough data to rate its cash flow.
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 QTTB in the historical PE scenario, which offers more potential upside but is not a forecast.
QTTB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 2.4x | $8.37 | -5.2% |
| Current | 2.6x | $8.82 | — |
| Fair | 2.9x | $10.05 | +14% |
| Expensive | 4.8x | $16.68 | +89% |
Historical ranges are pointers, not guarantees.
QTTB's PE is 2.5x, 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.
QTTB Forward outlook
There aren't enough analyst estimates for QTTB 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 QTTB down 75%.
QTTB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$14.07 | +$26.61 |
| Q2 2024 | -$22.87 | +$18.17 |
| Q1 2024 | -$32.43 | +$6.81 |
| Q4 2023 | -$35.10 | -$33.48 |
| Q3 2023 | -$40.68 | -$38.16 |
| Q2 2023 | -$41.04 | -$39.42 |
| Q1 2023 | -$39.24 | -$37.08 |
| Q4 2022 | -$1.62 | +$29.52 |
QTTB has returned to profit: it earned $3.46 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'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.
QTTB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2023 | $354K | -56% |
| Q1 2023 | $802K | 0% |
| Q4 2022 | $802K | 0% |
| Q3 2022 | $802K | -52% |
| Q2 2022 | $802K | -63% |
| Q1 2022 | $802K | -97% |
| Q4 2021 | $802K | -18% |
| Q3 2021 | $1.7M | +196% |
QTTB's revenue has slid since its 2021 peak: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2023 | -8705% | -5176 points |
| Q1 2023 | -3430% | +1260 points |
| Q4 2022 | -4301% | -108 points |
| Q3 2022 | -4098% | -2269 points |
| Q2 2022 | -3530% | -2133 points |
| Q1 2022 | -4691% | -4687 points |
| Q4 2021 | -4193% | -1152 points |
| Q3 2021 | -1828% | +3158 points |
QTTB's operating margin was −8705% last quarter, down 5176 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% |
QTTB has the stronger cash trend. Its trailing FCF is up 78% versus its history, compared with NVO at down 14%.
QTTB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$6.3M | +$6.1M |
| Q4 2025 | -$6.2M | +$5.3M |
| Q3 2025 | -$4.2M | +$15.4M |
| Q1 2025 | -$12.5M | +$2.1M |
| Q4 2024 | -$11.4M | +$10.1M |
| Q3 2024 | -$19.6M | +$5.4M |
| Q2 2024 | -$22.2M | +$1.4M |
| Q1 2024 | -$14.6M | +$11.7M |
QTTB has burned cash in almost every quarter: −$20M over the past year, against −$66M 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 QTTB 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.
QTTB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +67% | +13.7M shares |
| 1 year | +178% | +21.8M shares |
| 3 years | +960% | +30.8M shares |
| 5 years | +984% | +30.9M shares |
| Available history | +1354% | +31.7M shares |
QTTB has 34M diluted shares, up 178% 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).
QTTB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -15.4x | Net Cash |
| Q2 2026 | -4.9x | Net Cash |
| Q1 2026 | -2.0x | Net Cash |
| Q4 2025 | -2.2x | Net Cash |
QTTB 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).
QTTB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.1 | Neutral |
| Stochastic | 17.7 | Oversold |
QTTB's weekly RSI is 45 (neutral) and its Stochastic is 18 (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.
QTTB PE vs Healthcare Sector
| Metric | QTTB | Sector median | Relative |
|---|---|---|---|
| PE | 2.6x | 26x | 90% below |
| PE % | 20 | 29 | 9 pts below |
QTTB has the edge over NVO on valuation relative to its sector.
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.
QTTB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.56 | 3% above |
| 20 week MA | $11.7 | 25% below |
| 50 week MA | $8.31 | 6.1% above |
| 100 week MA | $5.29 | 67% above |
| 200 week MA | $14.3 | 38% below |
QTTB 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.
QTTB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $388.6 | $227.7 | -41% |
| 2021 | $227.7 | $74.5 | -67% |
| 2022 | $74.5 | $21.4 | -71% |
| 2023 | $21.4 | $10.9 | -49% |
| 2024 | $10.9 | $3.36 | -69% |
| 2025 | $3.36 | $3.20 | -4.8% |
| 2026 YTD | $3.20 | $8.82 | +176% |
QTTB has the edge over NVO on returns for 2026, with the stronger performance.