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.
XTLB
XTL Biopharmaceuticals Ltd.
There isn't enough reported data to score XTLB 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.
XTLB Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Under pressure | |
| Stable | |
| Strong |
XTLB's balance sheet is currently strong, and its cash flow is stable, but its profitability is under pressure. There isn't enough data to rate its revenue.
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.
XTLB PE Valuation
XTLB 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.
XTLB Forward outlook
There aren't enough analyst estimates for XTLB to show an outlook.
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 XTLB down 155%.
XTLB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2024 | -$2.88 | +$2.40 |
| Q3 2024 | -$3.04 | +$3.68 |
| Q2 2024 | -$2.08 | +$6.40 |
| Q1 2024 | -$1.12 | +$7.04 |
| Q4 2023 | -$5.28 | -$1.28 |
| Q3 2023 | -$6.72 | -262% |
| Q2 2023 | -$8.48 | -266% |
| Q1 2023 | -$8.16 | -343% |
XTLB is still losing money, but far less than before: $2.88 per share over the past year, against $16.16 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% |
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'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.
XTLB Quarterly Revenue
XTLB's revenue is growing: $289,000 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2024 | -281% | N/A |
| Q3 2024 | -472% | N/A |
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.
XTLB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2024 | $0 | $0 |
| Q3 2024 | $0 | $0 |
| Q2 2024 | $0 | $0 |
| Q1 2024 | $0 | $0 |
| Q4 2023 | $0 | $0 |
| Q3 2023 | $0 | $0 |
| Q2 2023 | $0 | $0 |
| Q1 2023 | $0 | $0 |
XTLB's free cash flow has been positive every quarter for six years: $0 over the past year, against $0 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 XTLB 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.
XTLB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +29% | +99.5K shares |
| 1 year | +29% | +99.5K shares |
| 3 years | +22% | +79.7K shares |
| 5 years | +37% | +119K shares |
| Available history | +37% | +119K shares |
XTLB has 440,101 diluted shares, up 29% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
XTLB hasn't bought back shares in the past year.
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).
XTLB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | -6.6x | Net Cash |
| Q3 2018 | -0.9x | Net Cash |
| Q2 2018 | -2.6x | Net Cash |
XTLB 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).
XTLB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.4 | Neutral |
| Stochastic | 2.2 | Oversold |
XTLB's weekly RSI is 34 (neutral) and its Stochastic is 2 (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.
XTLB PE vs Healthcare Sector
| Metric | XTLB | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
XTLB 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 XTLB on trend strength, trading above more of its moving averages.
XTLB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.89 | 13% below |
| 20 week MA | $2.39 | 31% below |
| 50 week MA | $2.69 | 39% below |
| 100 week MA | $4.01 | 59% below |
| 200 week MA | $5.16 | 68% below |
XTLB is in a downtrend: it's below all five of its weekly moving averages, and 68% 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 XTLB on returns for 2026, with the stronger performance.
XTLB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.20 | $11.0 | +112% |
| 2021 | $11.0 | $10.9 | -1.1% |
| 2022 | $10.9 | $4.76 | -56% |
| 2023 | $4.76 | $4.04 | -15% |
| 2024 | $4.04 | $8.28 | +105% |
| 2025 | $8.28 | $2.96 | -64% |
| 2026 YTD | $2.96 | $1.64 | -45% |
XTLB's yearly returns have swung widely, from +112% in 2020 to −64% in 2025. It's down 45% so far in 2026.