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.
XCUR
Exicure, Inc.
There isn't enough reported data to score XCUR 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.
XCUR Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Under pressure | |
| Unavailable | |
| Strong |
XCUR's balance sheet is currently strong, but its profitability is under pressure. There isn't enough data to rate its revenue and cash flow.
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.
XCUR PE Valuation
XCUR 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.
XCUR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect XCUR'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 edge over XCUR on earnings quality, reporting a profit while its opponent remains loss making.
XCUR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.34 | +$2.48 |
| Q1 2026 | -$1.57 | +$2.19 |
| Q4 2025 | -$0.79 | +$3.96 |
| Q3 2025 | -$3.64 | -$1.62 |
| Q2 2025 | -$3.82 | +$0.68 |
| Q1 2025 | -$3.76 | +$3.79 |
| Q4 2024 | -$4.75 | +$5.80 |
| Q3 2024 | -$2.02 | -118% |
XCUR is still losing money, but far less than before: $1.34 per share over the past year, against $82.50 at its worst in mid-2021.
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 XCUR 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's operating margin was 34% last quarter, down 9 points from the same quarter a year ago, near the bottom of its range since 2019.
XCUR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2022 | $21.8M | +928% |
| Q2 2022 | $2.5M | +3028% |
| Q1 2022 | $2.6M | +157% |
| Q4 2021 | $2.1M | +1413% |
| Q2 2021 | $79K | -98% |
| Q1 2021 | $997K | -89% |
| Q4 2020 | $140K | -55% |
| Q3 2020 | $2.4M | +364% |
XCUR's revenue is shrinking: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2024 | -167% | N/A |
| Q4 2022 | 85% | +720 points |
| Q3 2022 | -258% | N/A |
| Q2 2022 | -303% | +17244 points |
| Q1 2022 | -302% | +918 points |
| Q4 2021 | -635% | +8265 points |
| Q2 2021 | -17547% | -17456 points |
| Q1 2021 | -1219% | -1225 points |
XCUR's operating margin was −167% last quarter, up 134 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% |
XCUR has the stronger cash trend. Its trailing FCF is up 68% versus its history, compared with NVO at down 14%.
XCUR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$1.1M | +$456K |
| Q4 2025 | -$934K | -$89K |
| Q3 2025 | -$3.4M | -$3M |
| Q1 2025 | -$1.6M | -$1.1M |
| Q4 2024 | -$845K | -$29K |
| Q3 2024 | -$449K | +$963K |
| Q2 2024 | -$1.2M | +$3.6M |
| Q1 2024 | -$450K | +$2.9M |
XCUR has burned cash in almost every quarter: −$7M over the past year, against −$3M 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 XCUR 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.
XCUR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +25 shares |
| 1 year | +0.9% | +56.2K shares |
| 3 years | +278% | +4.7M shares |
| 5 years | +996% | +5.8M shares |
| Available history | +1379% | +5.9M shares |
XCUR has 6M diluted shares, up 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2021 | $9,000 |
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).
XCUR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2023 | -0.2x | Net Cash |
| Q2 2023 | -0.6x | Net Cash |
| Q1 2023 | -4.0x | Net Cash |
XCUR 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).
XCUR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.4 | Neutral |
| Stochastic | 20.3 | Neutral |
XCUR's weekly RSI is 31 (neutral) and its Stochastic is 20 (neutral).
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.
XCUR PE vs Healthcare Sector
| Metric | XCUR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
XCUR 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 XCUR on trend strength, trading above more of its moving averages.
XCUR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.08 | 1.9% below |
| 20 week MA | $1.31 | 19% below |
| 50 week MA | $3.02 | 65% below |
| 100 week MA | $5.82 | 82% below |
| 200 week MA | $5.12 | 79% below |
XCUR is in a downtrend: it's below all five of its weekly moving averages, and 79% 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 XCUR on returns for 2026, with the stronger performance.
XCUR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $417.0 | $289.5 | -31% |
| 2021 | $289.5 | $32.6 | -89% |
| 2022 | $32.6 | $6.40 | -80% |
| 2023 | $6.40 | $2.90 | -55% |
| 2024 | $2.90 | $17.6 | +506% |
| 2025 | $17.6 | $5.99 | -66% |
| 2026 YTD | $5.99 | $1.06 | -82% |
XCUR's yearly returns have swung widely, from +506% in 2024 to −89% in 2021. It's down 82% so far in 2026.