NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
TRLV
Trulieve Cannabis Corp.
TRLV has a slight edge over NVO overall, supported by 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.
TRLV Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Healthy | |
| Strong |
TRLV's cash flow and balance sheet are currently healthy, but its revenue and profitability 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.
TRLV PE Valuation
TRLV 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.
TRLV Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Decline | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect TRLV's earnings to grow and its profitability to improve, but its revenue to decline. 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 TRLV on earnings quality, reporting a profit while its opponent remains loss making.
TRLV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.37 | — |
| Q3 2026 | -$2.30 | -$1.66 |
| Q2 2026 | -$2.44 | -$1.62 |
| Q1 2026 | -$0.41 | +$0.38 |
| Q4 2025 | -$0.58 | +$0.21 |
| Q3 2023 | -$2.62 | -$1.35 |
| Q2 2023 | -$2.91 | -$2.19 |
| Q1 2023 | -$1.23 | -$0.94 |
| Q4 2022 | -$1.06 | -983% |
TRLV is still losing money, but less than at its worst: $2.30 per share over the past year, against $2.91 at its worst in mid-2023.
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 TRLV 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 TRLV on profitability, with a higher operating margin.
TRLV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $230.2M | -20% |
| Q2 2026 | $271M | -10% |
| Q1 2026 | $286.8M | -3.7% |
| Q4 2025 | $293.1M | -2.7% |
| Q3 2025 | $288.2M | +1.4% |
| Q2 2025 | $302.1M | -0.4% |
| Q1 2025 | $297.8M | 0% |
| Q4 2024 | $301.1M | +4.9% |
TRLV's revenue has slid since its 2022 peak: $230M last quarter, down 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +3.8 points |
| Q2 2026 | -137% | -154 points |
| Q1 2026 | 12% | +1.3 points |
| Q4 2025 | 5.2% | +4.8 points |
| Q3 2025 | 15% | +14 points |
| Q2 2025 | 17% | +1 points |
| Q1 2025 | 11% | -4.3 points |
| Q4 2024 | 0.4% | -9.7 points |
TRLV's operating margin was 18% last quarter, up 3.8 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 TRLV on cash flow, with more consistent year-over-year improvement.
TRLV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $45.4M | -30% |
| Q2 2026 | $32.1M | -57% |
| Q1 2026 | $42.2M | +25% |
| Q4 2025 | $55.8M | +$67.6M |
| Q3 2025 | $64.4M | +$71M |
| Q2 2025 | $74.5M | +66% |
| Q1 2025 | $33.9M | -73% |
| Q4 2024 | -$11.8M | -110% |
TRLV still generates free cash flow, though less than at its 2024 peak: $176M 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 the edge over TRLV 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.
TRLV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.1% | +7.9M shares |
| 1 year | +4.9% | +9.3M shares |
| 3 years | +6.2% | +11.7M shares |
| 5 years | +47% | +63.7M shares |
TRLV has 201M diluted shares, up 4.9% from a year ago.
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).
TRLV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.5x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | 0.2x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | 0.5x | Very low |
| Q2 2024 | 0.0x | Very low |
TRLV 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).
TRLV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.1 | Neutral |
| Stochastic | 59.2 | Neutral |
TRLV's weekly RSI is 56 (neutral) and its Stochastic is 59 (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.
TRLV PE vs Healthcare Sector
TRLV 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 bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
TRLV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.9 | 2.5% above |
| 20 week MA | $10.4 | 7.7% above |
| 50 week MA | $8.85 | 26% above |
| 100 week MA | $7.06 | 58% above |
| 200 week MA | $7.29 | 53% above |
TRLV 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.
TRLV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.8 | $31.9 | +195% |
| 2021 | $31.9 | $26.8 | -16% |
| 2022 | $26.8 | $7.58 | -72% |
| 2023 | $7.58 | $5.21 | -31% |
| 2024 | $5.21 | $4.78 | -8.3% |
| 2025 | $4.78 | $7.89 | +65% |
| 2026 YTD | $7.89 | $11.2 | +41% |
TRLV has the edge over NVO on returns for 2026, with the stronger performance.