NVO
Novo Nordisk A/S
NVO has a slight edge over VNDA overall, supported by stronger fundamentals and lower modeled downside.
VNDA
Vanda Pharmaceuticals Inc.
VNDA offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
VNDA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Strong |
VNDA's revenue and balance sheet are currently healthy, but its profitability and cash flow are weak.
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.
VNDA PE Valuation
VNDA 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.
VNDA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
VNDA 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 has the edge over VNDA on earnings quality, reporting a profit while its opponent remains loss making.
VNDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$4.63 | -$3.20 |
| Q2 2026 | -$4.64 | -$3.50 |
| Q1 2026 | -$4.06 | -$3.30 |
| Q4 2025 | -$3.74 | -$3.41 |
| Q3 2025 | -$1.43 | -$1.14 |
| Q2 2025 | -$1.14 | -$0.94 |
| Q1 2025 | -$0.76 | -$0.67 |
| Q4 2024 | -$0.33 | -925% |
VNDA lost $4.63 per share over the past year, a bigger loss than the year before.
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 has the edge over VNDA on sales, with stronger typical year-over-year growth.
| 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 VNDA on profitability, with a higher operating margin.
VNDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $69.8M | +24% |
| Q2 2026 | $50.5M | -3.9% |
| Q1 2026 | $51.7M | +3.4% |
| Q4 2025 | $57.2M | +7.6% |
| Q3 2025 | $56.3M | +18% |
| Q2 2025 | $52.6M | +4.2% |
| Q1 2025 | $50M | +5.4% |
| Q4 2024 | $53.2M | +17% |
VNDA's revenue is growing: $70M last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -34% | +22 points |
| Q2 2026 | -126% | -53 points |
| Q1 2026 | -97% | -15 points |
| Q4 2025 | -71% | -51 points |
| Q3 2025 | -56% | -33 points |
| Q2 2025 | -73% | -53 points |
| Q1 2025 | -82% | -63 points |
| Q4 2024 | -19% | -3.7 points |
VNDA's operating margin was −34% last quarter, up 22 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 has the edge over VNDA on cash generation, producing positive trailing cash flow while its opponent burns cash.
VNDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$28.7M | +$3M |
| Q2 2026 | -$31.3M | -$15.7M |
| Q1 2026 | -$50.4M | -$16.9M |
| Q4 2025 | -$29.5M | -$27.5M |
| Q3 2025 | -$31.8M | -$17M |
| Q2 2025 | -$15.6M | -$8.5M |
| Q1 2025 | -$33.6M | -544% |
| Q4 2024 | -$2M | +$2M |
VNDA has burned cash in eight of the last eight quarters: −$140M over the past year, against −$83M 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 VNDA 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.
VNDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +239K shares |
| 1 year | +2.3% | +1.4M shares |
| 3 years | +5% | +2.9M shares |
| 5 years | +6% | +3.4M shares |
| Available history | +10% | +5.6M shares |
VNDA has 60M diluted shares, up 2.3% 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).
VNDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2023 | -80.1x | Net Cash |
| Q2 2023 | -12.2x | Net Cash |
| Q1 2023 | -18.9x | Net Cash |
| Q4 2022 | -14.9x | Net Cash |
| Q3 2022 | -4.5x | Net Cash |
| Q2 2022 | -3.2x | Net Cash |
| Q1 2022 | -2.5x | Net Cash |
| Q4 2021 | -1.2x | Net Cash |
VNDA has more cash than debt.
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).
VNDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.3 | Neutral |
| Stochastic | 11.2 | Oversold |
VNDA's weekly RSI is 31 (neutral) and its Stochastic is 11 (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.
VNDA PE vs Healthcare Sector
| Metric | VNDA | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
VNDA 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 VNDA on trend strength, trading above more of its moving averages.
VNDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.23 | 6.6% below |
| 20 week MA | $4.92 | 20% below |
| 50 week MA | $6.12 | 35% below |
| 100 week MA | $5.37 | 26% below |
| 200 week MA | $5.32 | 26% below |
VNDA is in a downtrend: it's below all five of its weekly moving averages, and 26% 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 VNDA on returns for 2026, with the stronger performance.
VNDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.8 | $13.3 | -21% |
| 2021 | $13.3 | $18.0 | +35% |
| 2022 | $18.0 | $6.87 | -62% |
| 2023 | $6.87 | $4.22 | -39% |
| 2024 | $4.22 | $4.81 | +14% |
| 2025 | $4.81 | $7.04 | +46% |
| 2026 YTD | $7.04 | $3.95 | -44% |
VNDA has finished lower in three of the last six years. It's down 44% so far in 2026.