NVO
Novo Nordisk A/S
NVO has slightly lower modeled downside risk, despite its lower overall score.
VCYT
Veracyte, Inc.
VCYT 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.
VCYT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
VCYT'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.
VCYT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 16x | $24.63 | — |
| Forward | 16x | $24.63 | — |
| Cheap | 35x | $54.07 | +120% |
| Fair | 64x | $99.04 | +302% |
| Expensive | 105x | $162 | +558% |
Historical ranges are pointers, not guarantees.
VCYT 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.
VCYT Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect VCYT's revenue to grow, but its profitability to weaken.
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.
VCYT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.52 | -1.2% |
| Q3 2026 | $1.54 | +295% |
| Q2 2026 | $1.40 | +312% |
| Q1 2026 | $1.08 | +157% |
| Q4 2025 | $0.82 | +165% |
| Q3 2025 | $0.39 | +$0.53 |
| Q2 2025 | $0.34 | +$1.08 |
| Q1 2025 | $0.42 | +$1.35 |
| Q4 2024 | $0.31 | +$1.33 |
VCYT's earnings per share have climbed steadily: $1.54 over the past year, about four times what it earned the year before, and higher year over year for nine 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 VCYT on profitability, with a higher operating margin.
VCYT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $151.8M | +15% |
| Q2 2026 | $150.3M | +15% |
| Q1 2026 | $139.1M | +21% |
| Q4 2025 | $140.6M | +19% |
| Q3 2025 | $131.9M | +14% |
| Q2 2025 | $130.2M | +14% |
| Q1 2025 | $114.5M | +18% |
| Q4 2024 | $118.6M | +21% |
VCYT has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -6.5 points |
| Q2 2026 | 15% | +19 points |
| Q1 2026 | 16% | +14 points |
| Q4 2025 | 26% | +23 points |
| Q3 2025 | 17% | +7 points |
| Q2 2025 | -4% | -8.1 points |
| Q1 2025 | 2.5% | +7.3 points |
| Q4 2024 | 3.5% | +40 points |
VCYT's operating margin was 11% last quarter, down 6.5 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.
VCYT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $37.9M | -9.6% |
| Q2 2026 | $43M | +33% |
| Q1 2026 | $32.3M | +810% |
| Q4 2025 | $48.8M | +139% |
| Q3 2025 | $42M | +51% |
| Q2 2025 | $32.3M | +21% |
| Q1 2025 | $3.5M | +$14.6M |
| Q4 2024 | $20.4M | +56% |
VCYT has the edge over NVO on cash flow, with more consistent year-over-year improvement.
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 VCYT 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.
VCYT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +724K shares |
| 1 year | +3.9% | +3.1M shares |
| 3 years | +14% | +10M shares |
| 5 years | +19% | +13M shares |
| Available history | +69% | +33.7M shares |
VCYT has 83M diluted shares, up 3.9% 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).
VCYT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.7x | Net Cash |
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | -2.7x | Net Cash |
| Q4 2025 | -4.6x | Net Cash |
| Q3 2025 | -6.7x | Net Cash |
| Q2 2025 | -6.0x | Net Cash |
| Q1 2025 | -4.0x | Net Cash |
| Q4 2024 | -6.0x | Net Cash |
VCYT 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).
VCYT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.0 | Neutral |
| Stochastic | 23.4 | Neutral |
VCYT's weekly RSI is 33 (neutral) and its Stochastic is 23 (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 VCYT on valuation relative to its sector.
VCYT PE vs Healthcare Sector
| Metric | VCYT | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 26x | 38% below |
| PE % | 1 | 29 | 28 pts below |
VCYT is trading at 16x earnings, a 38% discount 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 the edge over VCYT on trend strength, trading above more of its moving averages.
VCYT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.8 | 40% below |
| 20 week MA | $45.0 | 45% below |
| 50 week MA | $41.9 | 41% below |
| 100 week MA | $37.8 | 35% below |
| 200 week MA | $31.8 | 23% below |
VCYT is in a downtrend: it's below all five of its weekly moving averages, and 23% 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 VCYT on returns for 2026, with the stronger performance.
VCYT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $55.8 | +92% |
| 2021 | $55.8 | $40.5 | -27% |
| 2022 | $40.5 | $24.6 | -39% |
| 2023 | $24.6 | $27.5 | +12% |
| 2024 | $27.5 | $40.1 | +46% |
| 2025 | $40.1 | $42.5 | +5.9% |
| 2026 YTD | $42.5 | $24.6 | -42% |
VCYT is down 42% so far in 2026, after finishing higher in four of the previous six years.