NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
STE
STERIS plc
STE 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.
STE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
STE'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 STE in the historical PE scenario, which offers more potential upside but is not a forecast.
STE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $253 | — |
| Current | 30x | $253 | — |
| Cheap | 33x | $279 | +9.9% |
| Fair | 40x | $336 | +33% |
| Expensive | 80x | $677 | +167% |
Historical ranges are pointers, not guarantees.
STE's PE is in its cheap range at 30x. If earnings grow as analysts expect, today's price would be 22x 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.
STE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
STE has the edge over NVO on the outlook, with more favorable earnings and profitability 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.
STE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.78 | +40% |
| Q3 2026 | $8.43 | +21% |
| Q2 2026 | $8.18 | +25% |
| Q1 2026 | $7.93 | +28% |
| Q4 2025 | $7.17 | +52% |
| Q3 2025 | $6.96 | +59% |
| Q2 2025 | $6.53 | +62% |
| Q1 2025 | $6.20 | +62% |
| Q4 2024 | $4.71 | -18% |
STE earned $8.43 per share over the past year, up 21% from 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 has the edge over STE on sales, with stronger typical year-over-year growth.
| 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 STE on profitability, with a higher operating margin.
STE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +8.8% |
| Q2 2026 | $1.5B | +7.3% |
| Q1 2026 | $1.6B | +7.3% |
| Q4 2025 | $1.5B | +9.2% |
| Q3 2025 | $1.5B | +9.9% |
| Q2 2025 | $1.4B | +8.7% |
| Q1 2025 | $1.5B | +4.3% |
| Q4 2024 | $1.4B | -1.8% |
STE's revenue has grown year over year for seven quarters in a row: $1.6B last quarter, up 8.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +0.3 points |
| Q2 2026 | 19% | +1.5 points |
| Q1 2026 | 20% | +5.3 points |
| Q4 2025 | 18% | +0.4 points |
| Q3 2025 | 18% | +1.7 points |
| Q2 2025 | 18% | +3.2 points |
| Q1 2025 | 15% | -2.7 points |
| Q4 2024 | 18% | +2.4 points |
STE's operating margin was 19% last quarter, about level with 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.
STE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $212.9M | +5.8% |
| Q2 2026 | $279.6M | -14% |
| Q1 2026 | $245.2M | +29% |
| Q4 2025 | $199.5M | -18% |
| Q3 2025 | $201.3M | +35% |
| Q2 2025 | $326.4M | +67% |
| Q1 2025 | $189.9M | +16% |
| Q4 2024 | $243.6M | +41% |
STE 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 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.
STE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -300K shares |
| 1 year | -1.2% | -1.2M shares |
| 3 years | -1.8% | -1.8M shares |
| 5 years | -3.1% | -3.1M shares |
| Available history | +14% | +12M shares |
STE has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100.4M |
| Q2 2026 | $115.5M |
| Q1 2026 | $74.3M |
| Q4 2025 | $50.1M |
| Q3 2025 | $100.5M |
| Q2 2025 | $10.6M |
| Q1 2025 | $263,000 |
| Q4 2024 | $100.4M |
STE spent $340M buying back its own shares over the past year, up 61% from 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 has the edge over STE on leverage, with a lower net debt burden relative to earnings.
STE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.8x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 1.0x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.5x | Healthy |
STE's net debt is less than a year of its operating earnings (EBITDA), down from 1.1 years a year ago.
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).
STE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.7 | Neutral |
| Stochastic | 79.9 | Neutral |
STE's weekly RSI is 65 (neutral) and its Stochastic is 80 (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 STE on valuation relative to its sector.
STE PE vs Healthcare Sector
| Metric | STE | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 26x | 16% above |
| PE % | 10 | 29 | 19 pts below |
STE is trading at 30x earnings, a 16% premium 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.
STE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $227.4 | 11% above |
| 20 week MA | $224.8 | 13% above |
| 50 week MA | $230.0 | 10% above |
| 100 week MA | $231.6 | 9.4% above |
| 200 week MA | $224.2 | 13% above |
STE 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.
STE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $151.8 | $186.2 | +23% |
| 2021 | $186.2 | $241.1 | +29% |
| 2022 | $241.1 | $182.1 | -24% |
| 2023 | $182.1 | $219.9 | +21% |
| 2024 | $219.9 | $208.0 | -5.4% |
| 2025 | $208.0 | $255.4 | +23% |
| 2026 YTD | $255.4 | $253.4 | -0.8% |
STE has the edge over NVO on returns for 2026, with the stronger performance.