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.
SPRB
Spruce Biosciences, Inc.
There isn't enough reported data to score SPRB 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.
SPRB Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Unavailable | |
| Unavailable |
SPRB's revenue and profitability are currently weak. There isn't enough data to rate its cash flow and balance sheet.
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.
SPRB PE Valuation
SPRB 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.
SPRB Forward outlook
There aren't enough analyst estimates for SPRB to show an outlook.
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 SPRB on earnings quality, reporting a profit while its opponent remains loss making.
SPRB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$56.56 | +$29.02 |
| Q2 2026 | -$62.63 | +$24.12 |
| Q1 2026 | -$59.45 | +$40.30 |
| Q4 2025 | -$74.51 | +$22.24 |
| Q3 2025 | -$85.58 | -$15.83 |
| Q2 2025 | -$86.75 | -$10.25 |
| Q1 2025 | -$99.75 | -$15.75 |
| Q4 2024 | -$96.75 | -$3.75 |
SPRB is still losing money, but far less than before: $56.56 per share over the past year, against $147.00 at its worst in late 2022.
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 stronger quarterly revenue trend. Revenue is up 2.1% for NVO versus down 100% for SPRB.
| 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's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
SPRB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2024 | $697K | -76% |
| Q3 2024 | $602K | -80% |
| Q2 2024 | $1.6M | -26% |
| Q1 2024 | $2M | +1.9% |
SPRB's revenue has slid since its 2023 peak: $0 last quarter, down 100% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2024 | -3454% | -3067 points |
| Q3 2024 | -1563% | -1118 points |
| Q2 2024 | -623% | +22 points |
| Q1 2024 | -631% | +41 points |
| Q4 2023 | -387% | N/A |
| Q3 2023 | -444% | N/A |
| Q2 2023 | -645% | N/A |
| Q1 2023 | -672% | N/A |
SPRB's operating margin was −3454% last quarter, down 3067 points from the same quarter a year ago, near the bottom of its range since 2023.
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 SPRB on cash generation, producing positive trailing cash flow while its opponent burns cash.
SPRB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$13.8M | -$8.4M |
| Q2 2026 | -$22.3M | -$13.4M |
| Q1 2026 | -$8.7M | +$4M |
| Q4 2025 | -$6.5M | +$14.2M |
| Q2 2025 | -$8.8M | +$2.3M |
| Q1 2025 | -$12.7M | +$2.2M |
| Q4 2024 | -$20.7M | -$9.5M |
| Q1 2024 | -$15M | -$3.2M |
SPRB has burned cash in almost every quarter: −$51M over the past year, against −$48M 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 SPRB 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.
SPRB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +16% | +390K shares |
| 1 year | +377% | +2.2M shares |
| 3 years | +422% | +2.3M shares |
| 5 years | +809% | +2.5M shares |
SPRB has 3M diluted shares, up 377% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
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).
SPRB Net Leverage
SPRB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
SPRB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.0 | Neutral |
| Stochastic | 27.3 | Neutral |
SPRB's weekly RSI is 42 (neutral) and its Stochastic is 27 (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.
SPRB PE vs Healthcare Sector
SPRB 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 SPRB on trend strength, trading above more of its moving averages.
SPRB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 4.5% below |
| 20 week MA | $48.4 | 11% below |
| 50 week MA | $58.4 | 27% below |
| 100 week MA | $45.9 | 6.5% below |
| 200 week MA | $86.6 | 50% below |
SPRB is in a downtrend: it's below all five of its weekly moving averages, and 50% 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 SPRB on returns for 2026, with the stronger performance.
SPRB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1,275.0 | $1,868.3 | +47% |
| 2021 | $1,868.3 | $279.0 | -85% |
| 2022 | $279.0 | $81.0 | -71% |
| 2023 | $81.0 | $219.8 | +171% |
| 2024 | $219.8 | $32.9 | -85% |
| 2025 | $32.9 | $85.7 | +161% |
| 2026 YTD | $85.7 | $42.9 | -50% |
SPRB's yearly returns have swung widely, from +171% in 2023 to −85% in 2021. It's down 50% so far in 2026.