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.
RNAC
Cartesian Therapeutics, Inc.
There isn't enough reported data to score RNAC 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.
RNAC Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Strong |
RNAC's balance sheet is currently strong, but its revenue, profitability and cash flow are 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's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
RNAC PE Valuation
RNAC 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.
RNAC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Decline | |
| -- | |
| Limited | |
| Low |
Analysts expect RNAC's revenue to decline, with its earnings and profitability holding steady. However, they disagree widely on these estimates.
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 RNAC in the latest year-over-year earnings comparison.
RNAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q1 2021 | -$20.70 | +$12.90 |
| Q4 2020 | -$20.40 | +$16.20 |
RNAC is still losing money, but far less than before: $4.84 per share over the past year, against $56.10 at its worst in early 2024.
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 RNAC 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 RNAC on profitability, with a higher operating margin.
RNAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $78K | -93% |
| Q3 2025 | $452K | +17% |
| Q2 2025 | $298K | -99% |
| Q1 2025 | $1.1M | -81% |
| Q3 2024 | $387K | -94% |
| Q2 2024 | $33.4M | +537% |
| Q1 2024 | $5.8M | -1.7% |
| Q4 2023 | $8.3M | -51% |
RNAC's revenue has slid since its 2022 peak: $0 last quarter, down 100% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2026 | -33973% | -31983 points |
| Q4 2025 | -8304% | N/A |
| Q3 2025 | -4661% | -119 points |
| Q2 2025 | -7319% | -7360 points |
| Q1 2025 | -1990% | -1761 points |
| Q3 2024 | -4541% | -4342 points |
| Q2 2024 | 41% | +396 points |
| Q1 2024 | -229% | +81 points |
RNAC's operating margin was −33973% last quarter, down 31983 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 RNAC on cash generation, producing positive trailing cash flow while its opponent burns cash.
RNAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$28.2M | -$11.3M |
| Q2 2026 | -$21.4M | -$1.2M |
| Q1 2026 | -$22.2M | +$2M |
| Q4 2025 | -$18.2M | -$10.5M |
| Q3 2025 | -$16.9M | -325% |
| Q2 2025 | -$20.1M | -$4.1M |
| Q1 2025 | -$24.2M | -$7.7M |
| Q4 2024 | -$7.7M | +$15.6M |
RNAC has burned cash in almost every quarter: −$90M over the past year, against −$69M 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 RNAC 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.
RNAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.5% | +448K shares |
| 1 year | +17% | +4.3M shares |
| 3 years | +493% | +25.2M shares |
| 5 years | +798% | +26.9M shares |
RNAC has 30M diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
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).
RNAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2022 | -7.0x | Net Cash |
| Q3 2022 | -4.1x | Net Cash |
| Q2 2022 | -5.1x | Net Cash |
| Q1 2022 | -8.1x | Net Cash |
RNAC has more cash than debt.
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).
RNAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.5 | Neutral |
| Stochastic | 16.1 | Oversold |
RNAC's weekly RSI is 43 (neutral) and its Stochastic is 16 (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.
RNAC PE vs Healthcare Sector
| Metric | RNAC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
RNAC 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 the edge over RNAC on trend strength, trading above more of its moving averages.
RNAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.83 | 6.9% below |
| 20 week MA | $8.07 | 21% below |
| 50 week MA | $7.57 | 16% below |
| 100 week MA | $10.1 | 37% below |
| 200 week MA | $19.2 | 67% below |
RNAC is in a downtrend: it's below all five of its weekly moving averages, and 67% below its 200-week average.
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.
RNAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.7 | $98.1 | +43% |
| 2021 | $98.1 | $107.1 | +9.2% |
| 2022 | $107.1 | $29.4 | -73% |
| 2023 | $29.4 | $20.7 | -30% |
| 2024 | $20.7 | $19.8 | -4.3% |
| 2025 | $19.8 | $6.68 | -66% |
| 2026 YTD | $6.68 | $6.36 | -4.8% |
RNAC has the edge over NVO on returns for 2026, with the stronger performance.