Novo Nordisk A/S (NVO) vs Thermo Fisher Scientific Inc. (TMO)
NVO leads on 12 of 16 compared metrics.
A side-by-side comparison of Novo Nordisk A/S and Thermo Fisher Scientific Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 17, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
NVO
Novo Nordisk A/S
$43.55Healthcare
TMO
Thermo Fisher Scientific Inc.
$473.72Healthcare
Total return — NVO vs TMO
growth of $100 · last 30yNVO +6188.8%TMO +1210.7%NVO compounded faster
NVO TMO
NVO vs TMO: by the numbers
- •NVO is the larger company ($193.53B vs $177.08B market cap).
- •NVO trades at the lower earnings multiple (10.19 vs 26.04 P/E).
- •NVO converts more revenue to profit (37.14% vs 15.18% net margin).
- •NVO grew revenue faster over the past five years (20.73% vs 6.68% CAGR).
- •NVO pays the higher dividend yield (4.14% vs 0.38%).
Which is better, NVO or TMO?
Metric tally: NVO 12 · TMO 4It depends on what you're optimizing for:
ValueNVO(lower P/E)
GrowthNVO(faster 5Y revenue CAGR)
IncomeNVO(higher dividend yield)
QualityNVO(higher ROIC)
Metrics side by side
Valuation
| Metric | NVO | TMO |
|---|---|---|
| P/E ratio | 10.19● | 26.04 |
| Forward P/E | — | 17.42 |
| P/S ratio | 3.78● | 3.91 |
| P/B ratio | 6.19 | 3.40● |
| PEG ratio | 8.17 | 4.51● |
| EV / EBITDA | 7.35● | 19.41 |
| FCF yield | 2.50% | 3.82%● |
Profitability
| Metric | NVO | TMO |
|---|---|---|
| Gross margin | 81.83%● | 39.41% |
| Operating margin | 45.21%● | 17.76% |
| Net margin | 37.14%● | 15.18% |
| ROE | 60.74%● | 13.21% |
| ROIC | 29.53%● | 7.58% |
Dividends
| Metric | NVO | TMO |
|---|---|---|
| Dividend yield | 4.14%● | 0.38% |
| Payout ratio | 49.80% | 10.13% |
Growth (annualized)
| Metric | NVO | TMO |
|---|---|---|
| Revenue CAGR (5Y) | 20.73%● | 6.68% |
| EPS CAGR (5Y) | 19.59%● | 1.99% |
| FCF CAGR (5Y) | -5.86% | -0.19%● |
| Total return CAGR (5Y) | 2.95%● | 0.61% |
Frequently asked
- Which is better, NVO or TMO?
- It depends on your goal. value: NVO (lower P/E); growth: NVO (faster 5Y revenue CAGR); income: NVO (higher dividend yield); quality: NVO (higher ROIC). Across all compared metrics, NVO leads 12 to 4.
- Is NVO or TMO cheaper?
- On trailing earnings, NVO is cheaper: NVO trades at a 10.19 P/E and TMO at 26.04.
- Which has grown faster, NVO or TMO?
- Over the past five years, NVO grew revenue faster — NVO at a 20.73% CAGR versus TMO at 6.68%.
- Does NVO or TMO pay a bigger dividend?
- NVO yields 4.14% and TMO yields 0.38% based on trailing dividends and the latest price.
- Is NVO or TMO more profitable?
- NVO runs the higher net margin — NVO at 37.14% versus TMO at 15.18%.
- Which has been the better investment, NVO or TMO?
- Over the past 10-year, TMO delivered the higher annualized total return — NVO at 7.84% versus TMO at 12.78%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Novo Nordisk A/S P/E ratioThermo Fisher Scientific P/E ratioNovo Nordisk A/S dividend yieldThermo Fisher Scientific dividend yieldNovo Nordisk A/S ROEThermo Fisher Scientific ROENovo Nordisk A/S operating marginThermo Fisher Scientific operating marginNovo Nordisk A/S revenue growthThermo Fisher Scientific revenue growthNovo Nordisk A/S free cash flowThermo Fisher Scientific free cash flow
Novo Nordisk A/S & Thermo Fisher Scientific appear in these rankings
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 June 17, 2026.