Added to YB: 2026-08-14
Pitch date: 2026-08-12
NVO [neutral]
Novo Nordisk A/S
-15.01%
current return
Author Info
TQI Capital is a CFA writing in-depth posts on quality companies. Sign up for the newsletter.
Company Info
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products.
Market Cap
DKK 1.1T
Pitch Price
DKK 45.55
Price Target
N/A
Dividend
4.62%
EV/EBITDA
6.92
P/E
9.66
EV/Sales
3.69
Sector
Pharmaceuticals
Category
turnaround
$NVO: Going against the current
NVO (holding update): Q2 adj sales +7%, op profit +11% CER, yet FY26 guide still implies decline (raised to 0/-6%). Wegovy pill dominates: 5M US scripts/30wks, 90% oral share, strong UK/EU rollout, 80% GLP-1 naive. Bear: US price erosion, 2027 semaglutide LOE, pipeline misses (ZEUS/CagriSema). At 14x EPS, 3.9% yield, priced as dying biz. Author owns despite Lilly outclassing on all metrics — thesis: fixable business mispriced as structural decliner. Sept 21 CMD key catalyst.
Read full article (10 min)