NVO
Novo Nordisk A/S
NVO has the edge over SNWV overall, supported by stronger fundamentals.
SNWV
SANUWAVE Health Inc.
SNWV trails on the overall score without a compensating advantage in the available component scores.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
SNWV Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Healthy | |
| Strong |
SNWV's cash flow and balance sheet are currently healthy, and its profitability is stable, 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 SNWV in the historical PE scenario, which offers more potential upside but is not a forecast.
SNWV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 1.2x | $1.58 | — |
| Current | 4.3x | $1.58 | — |
| Cheap | 4.4x | $1.63 | +3.2% |
| Fair | 4.9x | $1.81 | +15% |
| Expensive | 5.7x | $2.10 | +33% |
Historical ranges are pointers, not guarantees.
SNWV's PE is 4.3x, 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.
SNWV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Decline | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect SNWV's earnings to grow and its profitability to improve, but its revenue to decline.
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 SNWV down 90%.
SNWV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.28 | +247% |
| Q3 2024 | $4.76 | +$31.01 |
| Q2 2024 | $0.00 | +$15.00 |
| Q1 2024 | -$3.75 | +$7.50 |
| Q4 2023 | -$11.25 | -$3.75 |
| Q3 2023 | -$26.25 | -$18.75 |
| Q2 2023 | -$15.00 | -$3.75 |
| Q1 2023 | -$11.25 | +$7.50 |
| Q4 2022 | -$7.50 | +$11.25 |
SNWV has returned to profit: it earned $0.37 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 has the edge over SNWV on profitability, with a higher operating margin.
SNWV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8.6M | -25% |
| Q2 2026 | $9.7M | -4.2% |
| Q1 2026 | $9.6M | +3% |
| Q4 2025 | $13.4M | +30% |
| Q3 2025 | $11.5M | +22% |
| Q2 2025 | $10.2M | +42% |
| Q1 2025 | $9.3M | +61% |
| Q4 2024 | $10.3M | +48% |
SNWV's revenue has held roughly level: $9M last quarter, down 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -13% | -25 points |
| Q2 2026 | -2.9% | -21 points |
| Q1 2026 | -12% | -22 points |
| Q4 2025 | 15% | -9.5 points |
| Q3 2025 | 13% | -8.1 points |
| Q2 2025 | 18% | -9.3 points |
| Q1 2025 | 11% | +29 points |
| Q4 2024 | 24% | +9.6 points |
SNWV's operating margin was −13% last quarter, down 25 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.
SNWV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1M | -296% |
| Q2 2026 | $91K | +$257K |
| Q1 2026 | $374K | +$2.1M |
| Q4 2025 | $3.2M | +538% |
| Q3 2025 | $556K | -55% |
| Q2 2025 | -$166K | +$594K |
| Q1 2025 | -$1.7M | -270% |
| Q4 2024 | $505K | +$1.8M |
SNWV's free cash flow has turned positive after six years mostly in the red: $3M 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 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.
SNWV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +1.1K shares |
| 1 year | -5.9% | -538K shares |
| 3 years | +487% | +7.1M shares |
| 5 years | +739% | +7.6M shares |
SNWV has the edge over NVO on shareholder dilution, with a more favorable share count trend.
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).
SNWV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -8.0x | Net Cash |
| Q2 2026 | -2.8x | Net Cash |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q3 2024 | 0.9x | Very low |
SNWV 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).
SNWV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 24.2 | Oversold |
| Stochastic | 16.7 | Oversold |
SNWV's weekly RSI is 24 (oversold) and its Stochastic is 17 (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.
SNWV PE vs Healthcare Sector
| Metric | SNWV | Sector median | Relative |
|---|---|---|---|
| PE | 4.3x | 26x | 83% below |
| PE % | 12 | 29 | 17 pts below |
SNWV 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 the edge over SNWV on trend strength, trading above more of its moving averages.
SNWV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.32 | 63% below |
| 20 week MA | $5.42 | 71% below |
| 50 week MA | $15.2 | 90% below |
| 100 week MA | $23.5 | 93% below |
| 200 week MA | $16.3 | 90% below |
SNWV is in a downtrend: it's below all five of its weekly moving averages, and 90% 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 the edge over SNWV on returns for 2026, with the stronger performance.
SNWV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.9 | $79.7 | +29% |
| 2021 | $79.7 | $56.3 | -29% |
| 2022 | $56.3 | $10.5 | -81% |
| 2023 | $10.5 | $4.87 | -54% |
| 2024 | $4.87 | $23.0 | +371% |
| 2025 | $23.0 | $30.5 | +33% |
| 2026 YTD | $30.5 | $1.58 | -95% |
SNWV's yearly returns have swung widely, from +371% in 2024 to −81% in 2022. It's down 95% so far in 2026.