NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
RIGL
Rigel Pharmaceuticals, Inc.
RIGL has the edge over NVO overall, supported by stronger valuation 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.
RIGL Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| Strong | |
| Strong |
RIGL's profitability, cash flow and balance sheet are currently strong, but its revenue 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 RIGL in the historical PE scenario, which offers more potential upside but is not a forecast.
RIGL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 2x | $31.38 | -31% |
| Current | 2.8x | $45.69 | — |
| Fair | 6.3x | $102 | +122% |
| Forward | 13x | $45.69 | — |
| Expensive | 20x | $329 | +620% |
Historical ranges are pointers, not guarantees.
RIGL's PE is in its cheap range at 2.8x. On analysts' estimates for next year's earnings, today's price would be 13x, in its expensive range.
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.
RIGL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
RIGL has the edge over NVO on the outlook, with more favorable earnings 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'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.
RIGL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.54 | -78% |
| Q3 2026 | $16.08 | +159% |
| Q2 2026 | $16.89 | +209% |
| Q1 2026 | $19.29 | +810% |
| Q4 2025 | $19.48 | +1868% |
| Q3 2025 | $6.22 | +2492% |
| Q2 2025 | $5.46 | +$6.22 |
| Q1 2025 | $2.12 | +$3.22 |
| Q4 2024 | $0.99 | +$2.39 |
RIGL's earnings per share have climbed steadily: $16.08 over the past year, up 159% from the year before, and higher year over year for 15 quarters in a row.
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 RIGL on profitability, with a higher operating margin.
RIGL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $80.9M | +16% |
| Q2 2026 | $78.7M | -23% |
| Q1 2026 | $58.8M | +10% |
| Q4 2025 | $69.8M | +21% |
| Q3 2025 | $69.5M | +26% |
| Q2 2025 | $101.7M | +176% |
| Q1 2025 | $53.3M | +81% |
| Q4 2024 | $57.6M | +61% |
RIGL has the edge over NVO on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -20 points |
| Q2 2026 | 30% | -30 points |
| Q1 2026 | 20% | -3.7 points |
| Q4 2025 | 33% | +4.3 points |
| Q3 2025 | 41% | +16 points |
| Q2 2025 | 60% | +59 points |
| Q1 2025 | 24% | +48 points |
| Q4 2024 | 29% | +23 points |
RIGL's operating margin was 21% last quarter, down 20 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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
RIGL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.6M | +44% |
| Q2 2026 | $30.7M | +0.4% |
| Q1 2026 | $2.7M | +$3.6M |
| Q4 2025 | $22M | +52% |
| Q3 2025 | $24M | +11% |
| Q2 2025 | $30.5M | +10012% |
| Q1 2025 | -$893K | +$4.1M |
| Q4 2022 | -$22M | -$2.9M |
RIGL 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 RIGL 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.
RIGL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.4% | +869K shares |
| 1 year | +6.7% | +1.3M shares |
| 3 years | +17% | +3M shares |
| 5 years | +20% | +3.4M shares |
| Available history | +22% | +3.7M shares |
RIGL has 20M diluted shares, up 6.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1M |
| Q2 2026 | $511,000 |
| Q1 2026 | $3.7M |
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).
RIGL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.1x | Very low |
RIGL 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).
RIGL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 55.3 | Neutral |
RIGL's weekly RSI is 54 (neutral) and its Stochastic is 55 (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.
RIGL PE vs Healthcare Sector
| Metric | RIGL | Sector median | Relative |
|---|---|---|---|
| PE | 2.8x | 26x | 89% below |
| PE % | 30 | 29 | 1 pt above |
RIGL 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.
RIGL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $46.9 | 2.6% below |
| 20 week MA | $44.4 | 2.9% above |
| 50 week MA | $38.0 | 20% above |
| 100 week MA | $31.6 | 45% above |
| 200 week MA | $22.4 | 104% above |
RIGL 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.
RIGL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.8 | $36.9 | +77% |
| 2021 | $36.9 | $28.4 | -23% |
| 2022 | $28.4 | $12.3 | -57% |
| 2023 | $12.3 | $14.5 | +18% |
| 2024 | $14.5 | $16.5 | +14% |
| 2025 | $16.5 | $44.0 | +167% |
| 2026 YTD | $44.0 | $45.7 | +3.8% |
RIGL has the edge over NVO on returns for 2026, with the stronger performance.