Which has the lower trailing P/E, MDT or NVO?

NVO has the lower trailing P/E: MDT trades at 21.28 and NVO at 9.20. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, MDT or NVO?

Over the past five years, NVO grew revenue faster — MDT at a 3.51% CAGR versus NVO at 19.76%.

Does MDT or NVO pay a bigger dividend?

MDT yields 3.31% and NVO yields 4.81% based on trailing dividends and the latest price.

Is MDT or NVO more profitable?

NVO runs the higher net margin — MDT at 13.93% versus NVO at 35.33%.

How have MDT and NVO total returns compared?

Over the past 10 years, MDT delivered 2.72% and NVO delivered 8.52% annualized total return. Past performance doesn't predict future results.

Medtronic plc (MDT) vs Novo Nordisk A/S (NVO)

A side-by-side comparison of Medtronic plc and Novo Nordisk A/S across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 4, 2026. Differences are shown without an overall score or investment verdict.

MDT

Medtronic plc

$110.57B

$86.38HealthcareDelayed quote: Oct 2, 2026, 4:00 PM EDT

NVO

Novo Nordisk A/S

$165.72B

$37.32HealthcareDelayed quote: Oct 2, 2026, 4:00 PM EDT

Total return — MDT vs NVO

growth of $100 · dividends reinvested · last 10y

MDT +31.1% (+2.7%/yr)NVO +132.2% (+8.8%/yr)NVO compounded faster over this window

MDT NVO

MDT vs NVO: by the numbers

•NVO is the larger company ($165.72B vs $110.57B market cap).
•NVO trades at the lower trailing earnings multiple (9.20 vs 21.28 P/E), one valuation lens rather than an overall verdict.
•NVO converts more revenue to profit (35.33% vs 13.93% net margin).
•NVO grew revenue faster over the past five years (19.76% vs 3.51% CAGR).
•NVO pays the higher dividend yield (4.81% vs 3.31%).

Metrics side by side

Valuation

Metric	MDT	NVO
P/E ratio	21.28	9.20
Forward P/E	14.45	N/A
PEG ratio	3.03	0.47
P/S ratio	2.95	3.25
P/B ratio	2.20	4.91
EV / EBITDA	14.22	6.88
FCF yield	5.55%	4.49%

Profitability

Metric	MDT	NVO
Gross margin	66.69%	80.64%
Operating margin	18.08%	43.10%
Net margin	13.93%	35.33%
ROE	10.41%	53.50%
ROIC	6.44%	30.21%

Dividends

Metric	MDT	NVO
Dividend yield	3.31%	4.81%
Payout ratio	70.44%	44.27%

Growth (annualized)

Metric	MDT	NVO
Revenue CAGR (5Y)	3.51%	19.76%
EPS CAGR (5Y)	6.97%	19.59%
FCF CAGR (5Y)	0.93%	-1.45%
Total return CAGR (5Y)	-4.46%	-2.72%

Frequently asked

Which has the lower trailing P/E, MDT or NVO?: NVO has the lower trailing P/E: MDT trades at 21.28 and NVO at 9.20. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, MDT or NVO?: Over the past five years, NVO grew revenue faster — MDT at a 3.51% CAGR versus NVO at 19.76%.
Does MDT or NVO pay a bigger dividend?: MDT yields 3.31% and NVO yields 4.81% based on trailing dividends and the latest price.
Is MDT or NVO more profitable?: NVO runs the higher net margin — MDT at 13.93% versus NVO at 35.33%.
How have MDT and NVO total returns compared?: Over the past 10 years, MDT delivered 2.72% and NVO delivered 8.52% annualized total return. Past performance doesn't predict future results.

Go deeper

Full MDT analysis Full NVO analysis Interactive comparison tool

Dig into the metrics

Medtronic P/E ratio Novo Nordisk A/S P/E ratio Medtronic dividend yield Novo Nordisk A/S dividend yield Medtronic ROE Novo Nordisk A/S ROE Medtronic operating margin Novo Nordisk A/S operating margin Medtronic revenue growth Novo Nordisk A/S revenue growth Medtronic free cash flow Novo Nordisk A/S free cash flow

Medtronic & Novo Nordisk A/S appear in these rankings

Highest Dividend Yield Stocks 25+ Year Dividend Growers Fastest Revenue Growth Stocks Highest ROE Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 4, 2026.