NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
VMD
Viemed Healthcare, Inc.
VMD has the edge over NVO overall, supported by stronger fundamentals and lower modeled downside.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
VMD Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
VMD'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 has the edge over VMD in the historical PE scenario, which offers more potential upside but is not a forecast.
VMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $6.92 | -24% |
| Forward | 18x | $9.11 | — |
| Current | 24x | $9.11 | — |
| Fair | 26x | $9.97 | +9.4% |
| Expensive | 36x | $13.67 | +50% |
Historical ranges are pointers, not guarantees.
VMD's PE is in its fair range at 24x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
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.
VMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
VMD 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.
VMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.50 | +32% |
| Q3 2026 | $0.38 | +15% |
| Q2 2026 | $0.36 | +5.9% |
| Q1 2026 | $0.37 | +23% |
| Q4 2025 | $0.37 | +32% |
| Q3 2025 | $0.33 | +27% |
| Q2 2025 | $0.34 | +48% |
| Q1 2025 | $0.30 | +20% |
| Q4 2024 | $0.28 | +12% |
VMD has the edge over NVO on earnings, with stronger typical year-over-year growth.
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 VMD on profitability, with a higher operating margin.
VMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $80.7M | +12% |
| Q2 2026 | $78.1M | +24% |
| Q1 2026 | $75.4M | +28% |
| Q4 2025 | $76.2M | +26% |
| Q3 2025 | $71.9M | +24% |
| Q2 2025 | $63.1M | +15% |
| Q1 2025 | $59.1M | +17% |
| Q4 2024 | $60.7M | +20% |
VMD has the edge over NVO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.6% | +0.8 points |
| Q2 2026 | 5.7% | -2.4 points |
| Q1 2026 | 5.7% | -0.8 points |
| Q4 2025 | 11% | +0.4 points |
| Q3 2025 | 7.8% | -1.8 points |
| Q2 2025 | 8.1% | +1.5 points |
| Q1 2025 | 6.5% | +2.1 points |
| Q4 2024 | 11% | +0.2 points |
VMD's operating margin was 8.6% last quarter, up 0.8 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 still generates free cash flow, though less than at its 2026 peak: $7.3B over the past year.
VMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.9M | -73% |
| Q2 2026 | $7.4M | +80% |
| Q1 2026 | $1.4M | +$14M |
| Q4 2025 | $9.7M | +207% |
| Q3 2025 | $10.7M | +516% |
| Q2 2025 | $4.1M | +231% |
| Q1 2025 | -$12.6M | -$7.8M |
| Q4 2024 | $3.2M | -41% |
VMD generated $21M in free cash flow over the past year, about four times what it generated 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 VMD 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.
VMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +66.6K shares |
| 1 year | +1.7% | +697K shares |
| 3 years | +1.9% | +772K shares |
| 5 years | +1.3% | +533K shares |
| Available history | +3.6% | +1.4M shares |
VMD has 41M diluted shares, up 1.7% from a year ago, despite $8M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $977,000 |
| Q2 2026 | $5.3M |
| Q1 2026 | $1.4M |
| Q4 2025 | — |
| Q3 2025 | $11.6M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
VMD spent $8M buying back its own shares over the past year.
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).
VMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
VMD 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).
VMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.9 | Neutral |
| Stochastic | 27.9 | Neutral |
VMD's weekly RSI is 45 (neutral) and its Stochastic is 28 (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 VMD on valuation relative to its sector.
VMD PE vs Healthcare Sector
| Metric | VMD | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 26x | 7.3% below |
| PE % | 39 | 29 | 10 pts above |
VMD is trading at 24x earnings, in line with 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.
VMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.34 | 2.5% below |
| 20 week MA | $9.90 | 8% below |
| 50 week MA | $9.25 | 1.5% below |
| 100 week MA | $8.16 | 12% above |
| 200 week MA | $8.23 | 11% above |
VMD 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.
VMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.28 | $8.00 | +27% |
| 2021 | $8.00 | $5.59 | -30% |
| 2022 | $5.59 | $7.45 | +33% |
| 2023 | $7.45 | $7.85 | +5.4% |
| 2024 | $7.85 | $8.16 | +3.9% |
| 2025 | $8.16 | $7.30 | -11% |
| 2026 YTD | $7.30 | $9.11 | +25% |
VMD has the edge over NVO on returns for 2026, with the stronger performance.