NVO
Novo Nordisk A/S
NVO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
RDY
Dr. Reddy's Laboratories Limited
RDY has the edge over NVO overall, supported by lower modeled downside.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
RDY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Healthy |
RDY's balance sheet is currently healthy, and its revenue and profitability are stable, but its cash flow is under pressure.
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 RDY in the historical PE scenario, which offers more potential upside but is not a forecast.
RDY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $6.94 | -53% |
| Fair | 31x | $11.07 | -25% |
| Current | 41x | $14.73 | — |
| Expensive | 43x | $15.47 | +5% |
Historical ranges are pointers, not guarantees.
RDY's PE is 41x, 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.
RDY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
RDY 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 RDY on earnings, with more consistent year-over-year improvement.
RDY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.36 | -52% |
| Q2 2026 | $0.42 | -42% |
| Q1 2026 | $0.55 | -24% |
| Q4 2025 | $0.72 | +4.3% |
| Q3 2025 | $0.75 | +10% |
RDY's earnings per share have fallen from their peak: $0.36 over the past year, against $0.75 in late 2025.
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 RDY 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 RDY on profitability, with a higher operating margin.
RDY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $923.8M | -1.7% |
| Q2 2026 | $866.1M | -5% |
| Q1 2026 | $814.3M | -10% |
| Q4 2025 | $931M | +4.4% |
| Q3 2025 | $939.3M | +9.8% |
| Q2 2025 | $911.6M | +11% |
| Q1 2025 | $907.4M | +20% |
| Q4 2024 | $891.7M | +16% |
RDY's revenue grew through 2024 and has held roughly level since: $924M last quarter, down 1.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -6.2 points |
| Q2 2026 | 3.7% | -17 points |
| Q1 2026 | 0.6% | -20 points |
| Q4 2025 | 16% | -6.1 points |
| Q3 2025 | 20% | -2 points |
| Q2 2025 | 20% | -2.9 points |
| Q1 2025 | 21% | -0.4 points |
| Q4 2024 | 22% | -1.5 points |
RDY's operating margin was 14% last quarter, down 6.2 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 RDY on cash flow, with more consistent year-over-year improvement.
RDY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $24.6M | -58% |
| Q2 2026 | -$49.4M | -203% |
| Q1 2026 | $114.7M | 0% |
| Q4 2025 | $38.3M | +$61.7M |
| Q3 2025 | $58M | +286% |
| Q2 2025 | $47.8M | +116% |
| Q1 2025 | $114.7M | +14646% |
| Q4 2024 | -$23.5M | -30999% |
RDY still generates free cash flow, though less than at its 2022 peak: $128M over the past year.
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 RDY 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.
RDY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +662K shares |
| 1 year | 0% | +313K shares |
| 3 years | +0.2% | +1.4M shares |
RDY has 833M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $14.8M |
| Q4 2024 | — |
RDY hasn't bought back shares in the past year.
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 RDY on leverage, with a lower net debt burden relative to earnings.
RDY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.1x | Healthy |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.4x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.4x | Very low |
RDY's net debt is about 1.1 years of its operating earnings (EBITDA), up from less than a year 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).
RDY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.4 | Neutral |
| Stochastic | 94.8 | Overbought |
RDY's weekly RSI is 66 (neutral) and its Stochastic is 95 (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 RDY on valuation relative to its sector.
RDY PE vs Healthcare Sector
| Metric | RDY | Sector median | Relative |
|---|---|---|---|
| PE | 41x | 26x | 57% above |
| PE % | 74 | 29 | 45 pts above |
RDY is trading at 41x earnings, a 57% 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.
RDY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.4 | 10% above |
| 20 week MA | $12.8 | 15% above |
| 50 week MA | $13.4 | 10% above |
| 100 week MA | $13.8 | 6.8% above |
| 200 week MA | $13.8 | 7% above |
RDY 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.
RDY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.12 | $14.1 | +74% |
| 2021 | $14.1 | $12.6 | -11% |
| 2022 | $12.6 | $10.5 | -16% |
| 2023 | $10.5 | $13.9 | +32% |
| 2024 | $13.9 | $15.9 | +14% |
| 2025 | $15.9 | $14.2 | -11% |
| 2026 YTD | $14.2 | $14.7 | +4% |
RDY has the edge over NVO on returns for 2026, with the stronger performance.