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.
ZNTL
Zentalis Pharmaceuticals, Inc.
There isn't enough reported data to score ZNTL 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.
ZNTL Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Under pressure | |
| Unavailable | |
| Unavailable |
ZNTL's revenue and profitability are currently under pressure. There isn't enough data to rate its 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.
ZNTL PE Valuation
ZNTL 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.
ZNTL Forward outlook
There aren't enough analyst estimates for ZNTL 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 edge over ZNTL on earnings quality, reporting a profit while its opponent remains loss making.
ZNTL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.93 | +$0.15 |
| Q2 2026 | -$1.96 | +$0.31 |
| Q1 2026 | -$1.74 | +$1.40 |
| Q4 2025 | -$1.91 | +$0.42 |
| Q3 2025 | -$2.08 | +$0.34 |
| Q2 2025 | -$2.27 | +$0.38 |
| Q1 2025 | -$3.14 | +$0.12 |
| Q4 2024 | -$2.33 | +$2.14 |
ZNTL is still losing money, but far less than before: $1.93 per share over the past year, against $5.58 at its worst in late 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 has the stronger quarterly revenue trend. Revenue is up 2.1% for NVO versus down 100% for ZNTL.
| 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.
ZNTL Quarterly Revenue
ZNTL's revenue has slid since its 2024 peak: $0 last quarter, down 100% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2024 | -186% | N/A |
| Q1 2024 | -61% | 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 has the edge over ZNTL on cash generation, producing positive trailing cash flow while its opponent burns cash.
ZNTL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$32.7M | -$5.7M |
| Q2 2026 | -$37.2M | -$2.5M |
| Q1 2026 | -$33M | -$354K |
| Q4 2025 | -$30.9M | +$8.8M |
| Q3 2025 | -$27M | +$17.1M |
| Q2 2025 | -$34.7M | +$612K |
| Q1 2025 | -$32.6M | +$19.4M |
| Q4 2024 | -$39.7M | +$1.1M |
ZNTL has burned cash in almost every quarter: −$134M over the past year, against −$134M 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 ZNTL 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.
ZNTL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +19% | +13.3M shares |
| 1 year | +17% | +12.5M shares |
| 3 years | +20% | +14M shares |
| 5 years | +90% | +40M shares |
| Available history | +145% | +50.1M shares |
ZNTL has 85M diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
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).
ZNTL Net Leverage
ZNTL'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).
ZNTL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.9 | Neutral |
| Stochastic | 2.5 | Oversold |
ZNTL'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.
ZNTL PE vs Healthcare Sector
ZNTL 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 ZNTL on trend strength, trading above more of its moving averages.
ZNTL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.19 | 23% below |
| 20 week MA | $3.35 | 50% below |
| 50 week MA | $3.18 | 47% below |
| 100 week MA | $2.43 | 31% below |
| 200 week MA | $8.53 | 80% below |
ZNTL is in a downtrend: it's below all five of its weekly moving averages, and 80% 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 finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.
ZNTL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.2 | $57.2 | +147% |
| 2021 | $57.2 | $84.0 | +47% |
| 2022 | $84.0 | $18.3 | -78% |
| 2023 | $18.3 | $15.2 | -17% |
| 2024 | $15.2 | $3.06 | -80% |
| 2025 | $3.06 | $1.36 | -56% |
| 2026 YTD | $1.36 | $1.68 | +24% |
ZNTL has the edge over NVO on returns for 2026, with the stronger performance.