NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
VCEL
Vericel Corporation
VCEL has the edge over NVO overall, supported by stronger fundamentals and stronger valuation.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
VCEL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
VCEL's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
VCEL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 67x | $57.42 | — |
| Current | 88x | $57.42 | — |
| Cheap | 106x | $68.69 | +20% |
| Fair | 277x | $180 | +214% |
| Expensive | 1,180x | $767 | +1236% |
Historical ranges are pointers, not guarantees.
VCEL has the edge over NVO in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
VCEL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
VCEL 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.
VCEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.86 | +32% |
| Q3 2026 | $0.65 | +150% |
| Q2 2026 | $0.48 | +243% |
| Q1 2026 | $0.43 | +760% |
| Q4 2025 | $0.32 | +60% |
| Q3 2025 | $0.26 | +225% |
| Q2 2025 | $0.14 | +600% |
| Q1 2025 | $0.05 | +400% |
| Q4 2024 | $0.20 | +$0.27 |
VCEL's earnings per share have climbed steadily: $0.65 over the past year, up 150% from the year before, and higher year over year for 14 quarters in a row.
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 VCEL on profitability, with a higher operating margin.
VCEL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $85.4M | +26% |
| Q2 2026 | $77.5M | +22% |
| Q1 2026 | $68.4M | +30% |
| Q4 2025 | $92.9M | +23% |
| Q3 2025 | $67.5M | +17% |
| Q2 2025 | $63.2M | +20% |
| Q1 2025 | $52.6M | +2.6% |
| Q4 2024 | $75.4M | +16% |
VCEL has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +9.2 points |
| Q2 2026 | 0.6% | +3.8 points |
| Q1 2026 | -12% | +13 points |
| Q4 2025 | 24% | -0.4 points |
| Q3 2025 | 5.1% | +9.4 points |
| Q2 2025 | -3.2% | +8.2 points |
| Q1 2025 | -24% | -14 points |
| Q4 2024 | 25% | +4.9 points |
VCEL's operating margin was 14% last quarter, up 9.2 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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
VCEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $15.7M | -19% |
| Q2 2026 | $14.3M | +17504% |
| Q1 2026 | $15.1M | +$22.7M |
| Q4 2025 | $12.8M | +52% |
| Q3 2025 | $19.5M | +$28.7M |
| Q2 2025 | $81K | -95% |
| Q1 2025 | -$7.6M | -$797K |
| Q4 2024 | $8.5M | +276% |
VCEL generated $58M in free cash flow over the past year, up 184% from 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 VCEL 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.
VCEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +650K shares |
| 1 year | +2% | +1.1M shares |
| 3 years | +11% | +5.3M shares |
| 5 years | +13% | +6.3M shares |
| Available history | +20% | +8.8M shares |
VCEL has 53M diluted shares, up 2% 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).
VCEL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.3x | Net Cash |
| Q2 2026 | -4.0x | Net Cash |
| Q1 2026 | -3.9x | Net Cash |
| Q4 2025 | -4.4x | Net Cash |
| Q3 2025 | -5.9x | Net Cash |
| Q2 2025 | -8.5x | Net Cash |
| Q1 2025 | -18.4x | Net Cash |
| Q4 2024 | -7.4x | Net Cash |
VCEL 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).
VCEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 75.1 | Overbought |
| Stochastic | 69.5 | Neutral |
VCEL's weekly RSI is 75 (overbought) and its Stochastic is 70 (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 VCEL on valuation relative to its sector.
VCEL PE vs Healthcare Sector
| Metric | VCEL | Sector median | Relative |
|---|---|---|---|
| PE | 88x | 26x | 242% above |
| PE % | 10 | 29 | 19 pts below |
VCEL is trading at 88x earnings, a 242% 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.
VCEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.4 | 29% above |
| 20 week MA | $43.9 | 31% above |
| 50 week MA | $39.0 | 47% above |
| 100 week MA | $41.0 | 40% above |
| 200 week MA | $40.5 | 42% above |
VCEL 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.
VCEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.5 | $29.0 | +66% |
| 2021 | $29.0 | $41.6 | +44% |
| 2022 | $41.6 | $23.8 | -43% |
| 2023 | $23.8 | $35.6 | +49% |
| 2024 | $35.6 | $57.3 | +61% |
| 2025 | $57.3 | $37.7 | -34% |
| 2026 YTD | $37.7 | $57.4 | +52% |
VCEL has the edge over NVO on returns for 2026, with the stronger performance.