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.
VANI
Vivani Medical, Inc.
There isn't enough reported data to score VANI 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.
VANI Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Under pressure | |
| Unavailable | |
| Unavailable |
VANI's profitability is currently under pressure. There isn't enough data to rate its revenue, 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.
VANI PE Valuation
VANI 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.
VANI Forward outlook
There aren't enough analyst estimates for VANI 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 VANI on earnings quality, reporting a profit while its opponent remains loss making.
VANI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.32 | +$0.12 |
| Q2 2026 | -$0.35 | +$0.09 |
| Q1 2026 | -$0.40 | +$0.02 |
| Q4 2025 | -$0.43 | $0.00 |
| Q3 2022 | -$0.46 | +$0.50 |
| Q2 2022 | -$0.68 | +$0.31 |
| Q1 2022 | -$0.68 | +$0.52 |
| Q4 2021 | -$0.87 | +$1.68 |
VANI is still losing money, but far less than before: $0.32 per share over the past year, against $7.02 at its worst in late 2019.
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'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.
VANI Quarterly Revenue
VANI and NVO do not have enough comparable growth data to identify a winner.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2019 | -1635% | N/A |
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 VANI on cash generation, producing positive trailing cash flow while its opponent burns cash.
VANI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$6.4M | +$784K |
| Q2 2026 | -$6.1M | +$24K |
| Q1 2026 | -$6.2M | -$1M |
| Q4 2025 | -$7M | -$885K |
| Q3 2025 | -$7.2M | -$1.5M |
| Q2 2025 | -$6.2M | -$1.3M |
| Q1 2025 | -$5.2M | -$474K |
| Q4 2024 | -$6.1M | -$1.9M |
VANI has burned cash in almost every quarter: −$26M over the past year, against −$25M 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 VANI 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.
VANI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.5% | +3M shares |
| 1 year | +52% | +30.9M shares |
| 3 years | +586% | +77M shares |
| 5 years | +1738% | +85.2M shares |
VANI has 90M diluted shares, up 52% 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).
VANI Net Leverage
VANI'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).
VANI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.5 | Neutral |
| Stochastic | 14.3 | Oversold |
VANI's weekly RSI is 36 (neutral) and its Stochastic is 14 (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.
VANI PE vs Healthcare Sector
VANI 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 VANI on trend strength, trading above more of its moving averages.
VANI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.14 | 14% below |
| 20 week MA | $1.26 | 22% below |
| 50 week MA | $1.25 | 22% below |
| 100 week MA | $1.25 | 22% below |
| 200 week MA | $1.26 | 22% below |
VANI is in a downtrend: it's below all five of its weekly moving averages, and 22% 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 VANI on returns for 2026, with the stronger performance.
VANI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.8 | $7.53 | -58% |
| 2021 | $7.53 | $5.79 | -23% |
| 2022 | $5.79 | $0.93 | -84% |
| 2023 | $0.93 | $1.02 | +9.7% |
| 2024 | $1.02 | $1.18 | +16% |
| 2025 | $1.18 | $1.27 | +7.6% |
| 2026 YTD | $1.27 | $0.98 | -23% |
VANI has finished lower in three of the last six years. It's down 23% so far in 2026.