NVO
Novo Nordisk A/S
NVO's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 3 points to 43%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
WVE
Wave Life Sciences Ltd.
There isn't enough reported data to score WVE yet.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
WVE Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Unavailable |
WVE's profitability is currently weak. There isn't enough data to rate its revenue, cash flow and 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.
WVE PE Valuation
WVE 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.
WVE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Stable | |
| -- | |
| Limited | |
| Low |
Analysts expect WVE's losses to grow, with revenue holding steady. However, they disagree widely on these estimates.
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 WVE on earnings quality, reporting a profit while its opponent remains loss making.
WVE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.06 | -$0.40 |
| Q2 2026 | -$1.08 | -$0.27 |
| Q1 2026 | -$1.05 | -$0.30 |
| Q4 2025 | -$1.21 | -$0.51 |
| Q3 2025 | -$0.66 | +$0.44 |
| Q2 2025 | -$0.81 | -$0.25 |
| Q1 2025 | -$0.75 | -$0.24 |
| Q4 2024 | -$0.70 | -$0.16 |
WVE is still losing money, but far less than before: $1.06 per share over the past year, against $5.73 at its worst in early 2020.
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% |
WVE has the stronger quarterly revenue trend. Revenue is up 2.1% for NVO versus up 43% for WVE.
| 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 WVE on profitability, with a higher operating margin.
WVE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.3M | -74% |
| Q1 2026 | $38.2M | +317% |
| Q2 2025 | $8.7M | -56% |
| Q1 2025 | $9.2M | -27% |
| Q2 2024 | $19.7M | -11% |
| Q1 2024 | $12.5M | -3% |
| Q4 2023 | $29.1M | +2245% |
| Q3 2023 | $49.2M | +17168% |
WVE's revenue is recovering but still below its 2023 peak: $13M last quarter, up 43% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -502% | N/A |
| Q2 2026 | -3248% | -2642 points |
| Q1 2026 | -82% | +461 points |
| Q2 2025 | -606% | -429 points |
| Q1 2025 | -543% | -268 points |
| Q2 2024 | -178% | -72 points |
| Q1 2024 | -275% | -41 points |
| Q4 2023 | -64% | +3452 points |
WVE's operating margin was −502% last quarter, up 41 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 WVE on cash generation, producing positive trailing cash flow while its opponent burns cash.
WVE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$60.2M | -$15.2M |
| Q2 2026 | -$54.5M | -$8.1M |
| Q1 2026 | -$60M | +$3.2M |
| Q4 2025 | -$33.8M | +$10M |
| Q3 2025 | -$44.9M | +$1.9M |
| Q2 2025 | -$46.3M | -$18.8M |
| Q1 2025 | -$63.2M | -$29.4M |
| Q4 2024 | -$43.7M | -$10.1M |
WVE has burned cash in almost every quarter: −$208M over the past year, against −$198M 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 WVE 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.
WVE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +214K shares |
| 1 year | +22% | +36.5M shares |
| 3 years | +91% | +97.2M shares |
| 5 years | +303% | +154M shares |
| Available history | +503% | +170M shares |
WVE has 204M diluted shares, up 22% 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).
WVE Net Leverage
WVE'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).
WVE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.2 | Oversold |
| Stochastic | 9.8 | Oversold |
WVE's weekly RSI is 29 (oversold) and its Stochastic is 10 (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.
WVE PE vs Healthcare Sector
WVE 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 WVE on trend strength, trading above more of its moving averages.
WVE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.43 | 8.2% below |
| 20 week MA | $4.64 | 32% below |
| 50 week MA | $8.10 | 61% below |
| 100 week MA | $8.32 | 62% below |
| 200 week MA | $7.13 | 56% below |
WVE is in a downtrend: it's below all five of its weekly moving averages, and 56% 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 WVE on returns for 2026, with the stronger performance.
WVE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.8 | $8.91 | -44% |
| 2021 | $8.91 | $3.70 | -58% |
| 2022 | $3.70 | $6.51 | +76% |
| 2023 | $6.51 | $5.05 | -22% |
| 2024 | $5.05 | $12.9 | +155% |
| 2025 | $12.9 | $17.8 | +38% |
| 2026 YTD | $17.8 | $3.15 | -82% |
WVE's yearly returns have swung widely, from +155% in 2024 to −58% in 2021. It's down 82% so far in 2026.