NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
TLSI
TriSalus Life Sciences, Inc.
TLSI has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
TLSI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Unavailable |
TLSI's revenue is currently stable, but its profitability and cash flow are weak. There isn't enough data to rate its 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.
TLSI PE Valuation
TLSI 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.
TLSI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
TLSI 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 has the edge over TLSI in the latest year-over-year earnings comparison.
TLSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2025 | -$1.16 | +$6.21 |
TLSI is still losing money, but far less than before: $0.50 per share over the past year, against $7.37 at its worst in mid-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'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 TLSI on profitability, with a higher operating margin.
TLSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.9M | +11% |
| Q2 2026 | $11.4M | +1.7% |
| Q1 2026 | $8.9M | -2.9% |
| Q4 2025 | $13.2M | +60% |
| Q3 2025 | $11.6M | +57% |
| Q2 2025 | $11.2M | +52% |
| Q1 2025 | $9.2M | +42% |
| Q4 2024 | $8.3M | +44% |
TLSI has the edge over NVO on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -60% | +18 points |
| Q2 2026 | -86% | -21 points |
| Q1 2026 | -95% | -15 points |
| Q4 2025 | -25% | +67 points |
| Q3 2025 | -78% | +41 points |
| Q2 2025 | -65% | +46 points |
| Q1 2025 | -80% | +101 points |
| Q4 2024 | -92% | +155 points |
TLSI's operating margin was −60% last quarter, up 18 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 has the edge over TLSI on cash generation, producing positive trailing cash flow while its opponent burns cash.
TLSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$5.4M | -$1.4M |
| Q2 2026 | -$10.2M | -$3M |
| Q1 2026 | -$6.6M | -$1.4M |
| Q4 2025 | -$2.5M | +$3.2M |
| Q3 2025 | -$3.9M | +$7.1M |
| Q2 2025 | -$7.2M | +$6.3M |
| Q1 2025 | -$5.3M | +$5.7M |
| Q4 2024 | -$5.8M | +$3.5M |
TLSI has burned cash in almost every quarter: −$25M over the past year, against −$22M 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 TLSI 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.
TLSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +177K shares |
| 1 year | +105% | +29.9M shares |
TLSI has 58M diluted shares, up 105% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
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).
TLSI Net Leverage
TLSI'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).
TLSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.3 | Neutral |
| Stochastic | 5.4 | Oversold |
TLSI's weekly RSI is 32 (neutral) and its Stochastic is 5 (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.
TLSI PE vs Healthcare Sector
TLSI 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 TLSI on trend strength, trading above more of its moving averages.
TLSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.68 | 32% below |
| 20 week MA | $4.35 | 42% below |
| 50 week MA | $4.63 | 46% below |
| 100 week MA | $4.86 | 48% below |
| 200 week MA | $6.25 | 60% below |
TLSI is in a downtrend: it's below all five of its weekly moving averages, and 60% 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 TLSI on returns for 2026, with the stronger performance.
TLSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.3 | $9.97 | -3.4% |
| 2022 | $9.97 | $10.0 | +0.6% |
| 2023 | $10.0 | $8.45 | -16% |
| 2024 | $8.45 | $4.84 | -43% |
| 2025 | $4.84 | $6.87 | +42% |
| 2026 YTD | $6.87 | $2.52 | -63% |
TLSI has finished lower in three of the last five years. It's down 63% so far in 2026.