NVO
Novo Nordisk A/S
NVO has the edge over VVOS overall, supported by lower modeled downside and stronger fundamentals.
VVOS
Vivos Therapeutics, Inc.
VVOS 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.
VVOS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Unavailable |
VVOS's revenue is currently strong, but its profitability and cash flow are weak. There isn't enough data to rate its 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.
VVOS PE Valuation
VVOS 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.
VVOS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Growth | |
| -- | |
| Limited | |
| High |
Analysts expect VVOS's losses to grow, with revenue growing.
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 stronger earnings trend. Trailing diluted EPS is up 4.9% for NVO versus VVOS down 117%.
VVOS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$10.12 | +$2.88 |
| Q2 2024 | -$11.47 | +$6.28 |
| Q1 2024 | -$15.37 | +$6.13 |
| Q4 2023 | -$15.49 | +$10.51 |
| Q3 2023 | -$13.00 | +$16.00 |
| Q2 2023 | -$17.75 | +$11.25 |
| Q1 2023 | -$21.50 | +$4.00 |
| Q4 2022 | -$26.00 | -$2.00 |
VVOS is still losing money, but far less than before: $1.90 per share over the past year, against $29.00 at its worst in mid-2022.
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 VVOS on sales, with more consistent year-over-year improvement.
| 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 VVOS on profitability, with a higher operating margin.
VVOS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $5.2M | +35% |
| Q1 2026 | $5.1M | +70% |
| Q4 2025 | $3.8M | +3.4% |
| Q3 2025 | $6.8M | +76% |
| Q2 2025 | $3.8M | -5.8% |
| Q1 2025 | $3M | -12% |
| Q4 2024 | $3.7M | +14% |
| Q3 2024 | $3.9M | +17% |
VVOS's revenue has grown year over year for four quarters in a row: $5M last quarter, up 35% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -94% | +34 points |
| Q1 2026 | -129% | +1.2 points |
| Q4 2025 | -167% | -91 points |
| Q3 2025 | -70% | -1.3 points |
| Q2 2025 | -127% | -80 points |
| Q1 2025 | -130% | -19 points |
| Q4 2024 | -76% | +56 points |
| Q3 2024 | -69% | +37 points |
VVOS's operating margin was −94% last quarter, up 34 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 VVOS on cash generation, producing positive trailing cash flow while its opponent burns cash.
VVOS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$3.6M | +$701K |
| Q1 2026 | -$6M | -$2.1M |
| Q4 2025 | -$5.3M | -$2.2M |
| Q3 2025 | -$4.1M | +$301K |
| Q2 2025 | -$4.3M | -$1.2M |
| Q1 2025 | -$3.9M | -$1.3M |
| Q4 2024 | -$3.1M | -$192K |
| Q3 2024 | -$4.4M | -$1.4M |
VVOS has burned cash in almost every quarter: −$19M over the past year, against −$16M 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 VVOS 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.
VVOS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +21% | +3M shares |
| 1 year | +106% | +9.1M shares |
| 3 years | +1982% | +16.8M shares |
| 5 years | +3457% | +17.2M shares |
VVOS has 18M diluted shares, up 106% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | $2M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $150,000 |
| Q4 2019 | — |
| Q3 2019 | $50,000 |
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).
VVOS Net Leverage
VVOS'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).
VVOS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 22.8 | Oversold |
| Stochastic | 1.3 | Oversold |
VVOS's weekly RSI is 23 (oversold) and its Stochastic is 1 (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.
VVOS PE vs Healthcare Sector
VVOS 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 VVOS on trend strength, trading above more of its moving averages.
VVOS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.13 | 23% below |
| 20 week MA | $0.24 | 58% below |
| 50 week MA | $0.88 | 89% below |
| 100 week MA | $2.22 | 95% below |
| 200 week MA | $4.63 | 98% below |
VVOS is in a downtrend: it's below all five of its weekly moving averages, and 98% 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 VVOS on returns for 2026, with the stronger performance.
VVOS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $224.8 | $184.5 | -18% |
| 2021 | $184.5 | $68.5 | -63% |
| 2022 | $68.5 | $11.9 | -83% |
| 2023 | $11.9 | $12.4 | +4.3% |
| 2024 | $12.4 | $4.65 | -63% |
| 2025 | $4.65 | $2.03 | -56% |
| 2026 YTD | $2.03 | $0.10 | -95% |
VVOS has finished lower in five of the last six years. It's down 95% so far in 2026.