NVO
Novo Nordisk A/S
NVO trails on the overall score without a compensating advantage in the available component scores.
WST
West Pharmaceutical Services, Inc.
WST 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.
WST Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
WST'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 WST in the historical PE scenario, which offers more potential upside but is not a forecast.
WST PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 35x | $314 | -24% |
| Forward | 41x | $411 | — |
| Current | 46x | $411 | — |
| Fair | 47x | $417 | +1.3% |
| Expensive | 61x | $544 | +32% |
Historical ranges are pointers, not guarantees.
WST's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 41x 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.
WST Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
WST 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 WST on earnings, with more consistent year-over-year improvement.
WST Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.04 | +13% |
| Q3 2026 | $8.91 | +32% |
| Q2 2026 | $7.81 | +17% |
| Q1 2026 | $7.48 | +17% |
| Q4 2025 | $6.79 | +1.5% |
| Q3 2025 | $6.75 | +0.1% |
| Q2 2025 | $6.68 | -5% |
| Q1 2025 | $6.37 | -16% |
| Q4 2024 | $6.69 | -15% |
WST earned $8.91 per share over the past year, up 32% from 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'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 WST on profitability, with a higher operating margin.
WST Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $874.5M | +8.7% |
| Q2 2026 | $872.3M | +14% |
| Q1 2026 | $844.9M | +21% |
| Q4 2025 | $805M | +7.5% |
| Q3 2025 | $804.6M | +7.7% |
| Q2 2025 | $766.5M | +9.2% |
| Q1 2025 | $698M | +0.4% |
| Q4 2024 | $748.8M | +2.3% |
WST's revenue has grown year over year for eight quarters in a row: $875M last quarter, up 8.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +9.8 points |
| Q2 2026 | 21% | +0.5 points |
| Q1 2026 | 21% | +5.6 points |
| Q4 2025 | 19% | -1.9 points |
| Q3 2025 | 21% | -0.8 points |
| Q2 2025 | 20% | +2.1 points |
| Q1 2025 | 15% | -2.3 points |
| Q4 2024 | 21% | -0.7 points |
WST's operating margin was 31% last quarter, up 9.8 points from the same quarter a year ago, near the top of its range since 2019.
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.
WST Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $150.4M | +12% |
| Q2 2026 | $80.8M | -21% |
| Q1 2026 | $47.2M | -19% |
| Q4 2025 | $175M | +105% |
| Q3 2025 | $133.9M | +36% |
| Q2 2025 | $101.9M | +57% |
| Q1 2025 | $58.1M | +111% |
| Q4 2024 | $85.2M | -35% |
WST's free cash flow has been positive every quarter for seven years: $453M over the past year, up 20% 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 4.4B diluted shares, about the same as a year ago.
| 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.
WST Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -500K shares |
| 1 year | -2.5% | -1.8M shares |
| 3 years | -6% | -4.5M shares |
| 5 years | -6.8% | -5.2M shares |
| Available history | -6.1% | -4.6M shares |
WST has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $231M |
| Q2 2026 | $156.7M |
| Q1 2026 | $297.6M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $500,000 |
| Q1 2025 | $133.5M |
| Q4 2024 | $54.4M |
WST spent $685M buying back its own shares over the past year, about four times what it spent the year before.
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).
WST Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
WST 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).
WST Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.6 | Neutral |
| Stochastic | 71.9 | Neutral |
WST's weekly RSI is 70 (neutral) and its Stochastic is 72 (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 WST on valuation relative to its sector.
WST PE vs Healthcare Sector
| Metric | WST | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 47 | 29 | 18 pts above |
WST is trading at 46x earnings, a 79% 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.
WST Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $387.7 | 6.1% above |
| 20 week MA | $364.5 | 13% above |
| 50 week MA | $312.1 | 32% above |
| 100 week MA | $282.5 | 46% above |
| 200 week MA | $313.1 | 31% above |
WST 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.
WST Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $150.8 | $283.0 | +88% |
| 2021 | $283.0 | $459.8 | +63% |
| 2022 | $459.8 | $235.1 | -49% |
| 2023 | $235.1 | $352.1 | +50% |
| 2024 | $352.1 | $333.2 | -5.4% |
| 2025 | $333.2 | $274.3 | -18% |
| 2026 YTD | $274.3 | $411.3 | +50% |
WST has the edge over NVO on returns for 2026, with the stronger performance.