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.
VBIO
Valion Bio, Inc.
There isn't enough reported data to score VBIO 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.
VBIO Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Unavailable | |
| Unavailable |
VBIO's revenue and profitability are currently under pressure. 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.
VBIO PE Valuation
VBIO 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.
VBIO Forward outlook
There aren't enough analyst estimates for VBIO 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'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.
VBIO Earnings Per Share
VBIO and NVO do not have enough comparable growth data to identify a winner.
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% |
VBIO has the stronger quarterly revenue trend. Revenue is up 2.1% for NVO versus up 16% for VBIO.
| 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.
VBIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2025 | $146K | +16% |
| Q2 2025 | $86K | -39% |
| Q1 2025 | $70K | -79% |
| Q4 2024 | $180K | -50% |
| Q3 2024 | $126K | -55% |
| Q2 2024 | $140K | -13% |
| Q1 2024 | $334K | -11% |
| Q4 2023 | $357K | -13% |
VBIO's revenue is recovering but still below its 2022 peak: $146,000 last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2025 | -1701% | -565 points |
| Q2 2025 | -2249% | -1387 points |
| Q1 2025 | -2151% | -1708 points |
| Q4 2024 | -857% | -229 points |
| Q3 2024 | -1136% | -512 points |
| Q2 2024 | -861% | +459 points |
| Q1 2024 | -443% | +119 points |
| Q4 2023 | -629% | -76 points |
VBIO's operating margin was −1701% last quarter, down 565 points from the same quarter a year ago, near the bottom of its range since 2020.
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 stronger cash trend. Its trailing FCF is down 14% versus its history, compared with VBIO at down 115%.
VBIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$5M | -$4.1M |
| Q4 2023 | -$1.8M | +$453K |
| Q3 2023 | -$1.9M | +$906K |
| Q4 2022 | -$2.2M | +$533K |
| Q3 2022 | -$2.8M | -$1.1M |
| Q4 2021 | -$2.8M | -$2.2M |
| Q3 2021 | -$1.6M | -$1.1M |
| Q2 2021 | -$543K | +$115K |
VBIO has burned cash in almost every quarter: −$15M over the past year, against −$7M 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 VBIO 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.
VBIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +17% | +19.9K shares |
| 1 year | +467% | +111K shares |
VBIO has 135,200 diluted shares, up 467% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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).
VBIO Net Leverage
VBIO'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).
VBIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 22.0 | Oversold |
| Stochastic | 0.1 | Oversold |
VBIO's weekly RSI is 22 (oversold) and its Stochastic is 0 (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.
VBIO PE vs Healthcare Sector
VBIO 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 stronger trend alignment. NVO is above 1 of 5 weekly averages versus VBIO above 0 of 3.
VBIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.43 | 64% below |
| 20 week MA | $4.48 | 89% below |
| 50 week MA | $17.8 | 97% below |
VBIO is in a downtrend: it's below all three of its weekly moving averages, and 97% below its 50-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 VBIO on returns for 2026, with the stronger performance.
VBIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $93.0 | $40.3 | -57% |
| 2026 YTD | $40.3 | $0.51 | -99% |
VBIO has finished every year since 2025 lower, and it's down 99% so far in 2026.