NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
RMD
ResMed Inc.
RMD has the edge over NVO overall, supported by stronger valuation and stronger fundamentals.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
RMD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
RMD's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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 RMD in the historical PE scenario, which offers more potential upside but is not a forecast.
RMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $239 | — |
| Current | 22x | $239 | — |
| Cheap | 26x | $280 | +17% |
| Fair | 37x | $410 | +71% |
| Expensive | 54x | $595 | +149% |
Historical ranges are pointers, not guarantees.
RMD's PE is in its cheap range at 22x. If earnings grow as analysts expect, today's price would be 19x next year's earnings.
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.
RMD Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect RMD's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
RMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.30 | +12% |
| Q3 2026 | $10.98 | +12% |
| Q2 2026 | $10.43 | +9.7% |
| Q1 2026 | $10.37 | +17% |
| Q4 2025 | $10.11 | +20% |
| Q3 2025 | $9.77 | +30% |
| Q2 2025 | $9.51 | +37% |
| Q1 2025 | $8.90 | +37% |
| Q4 2024 | $8.46 | +40% |
RMD has the edge over NVO on earnings, with stronger typical year-over-year growth.
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 RMD on profitability, with a higher operating margin.
RMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +5.9% |
| Q2 2026 | $1.5B | +8.6% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.4B | +11% |
| Q3 2025 | $1.3B | +9.1% |
| Q2 2025 | $1.3B | +10% |
| Q1 2025 | $1.3B | +7.9% |
| Q4 2024 | $1.3B | +10% |
RMD's revenue has grown year over year for 22 quarters in a row: $1.4B last quarter, up 5.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | -1.4 points |
| Q2 2026 | 31% | -3.1 points |
| Q1 2026 | 35% | +1.9 points |
| Q4 2025 | 35% | +2 points |
| Q3 2025 | 33% | +1.8 points |
| Q2 2025 | 34% | +2.5 points |
| Q1 2025 | 33% | +1.7 points |
| Q4 2024 | 33% | +8.9 points |
RMD's operating margin was 32% last quarter, down 1.4 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.
RMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $373.7M | -9.8% |
| Q2 2026 | $403.5M | -21% |
| Q1 2026 | $520.5M | -6.7% |
| Q4 2025 | $311.2M | +8.1% |
| Q3 2025 | $414.4M | +35% |
| Q2 2025 | $508.2M | +22% |
| Q1 2025 | $557.9M | +46% |
| Q4 2024 | $288M | +15% |
RMD generated $1.6B in free cash flow over the past year, down 9% from 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 4.4B diluted shares, about the same as a year ago.
| 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.
RMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -2.6M shares |
| 1 year | -2.4% | -3.5M shares |
| 3 years | -2.8% | -4.1M shares |
| 5 years | -2.3% | -3.4M shares |
| Available history | -1.5% | -2.2M shares |
RMD has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $936.4M |
| Q2 2026 | $200M |
| Q1 2026 | $175M |
| Q4 2025 | $175M |
| Q3 2025 | $150M |
| Q2 2025 | $100M |
| Q1 2025 | $75M |
| Q4 2024 | $75M |
RMD spent $1.5B buying back its own shares over the past year, about four times what it spent the year before.
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).
RMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -0.4x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | 0.1x | Very low |
RMD 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).
RMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.7 | Neutral |
| Stochastic | 60.7 | Neutral |
RMD's weekly RSI is 56 (neutral) and its Stochastic is 61 (neutral).
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 RMD on valuation relative to its sector.
RMD PE vs Healthcare Sector
| Metric | RMD | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 26x | 16% below |
| PE % | 6 | 29 | 23 pts below |
RMD is trading at 22x earnings, a 16% discount to the Healthcare sector's median of 26x.
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.
RMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $233.4 | 2.4% above |
| 20 week MA | $223.3 | 7% above |
| 50 week MA | $227.8 | 4.8% above |
| 100 week MA | $238.7 | 0.1% above |
| 200 week MA | $220.5 | 8.3% above |
RMD 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.
RMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $156.2 | $212.4 | +36% |
| 2021 | $212.4 | $258.8 | +22% |
| 2022 | $258.8 | $208.3 | -20% |
| 2023 | $208.3 | $172.0 | -17% |
| 2024 | $172.0 | $233.2 | +36% |
| 2025 | $233.2 | $244.8 | +5% |
| 2026 YTD | $244.8 | $238.9 | -2.4% |
RMD has the edge over NVO on returns for 2026, with the stronger performance.