NOVO NORDISK A/S vs Pfizer Inc., two Drug Manufacturers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither growth story is printed here, but the two prices assume opposite ones: Novo Nordisk at 14.2 times earnings, a franchise the market expects to be eroded, and Pfizer at 18.5 times, a trough the market expects to persist. The current economics are not close: Novo earns a 41.3% operating margin and 52.8% on equity, both best-in-class; Pfizer an 11.8% net margin and 8.3% on equity through its post-pandemic hangover. Pfizer's offer is income, a 7.1% dividend with a 6.8% free-cash yield behind it, on 0.71 turns of debt; Novo pays none listed and carries none. The stronger company wears the smaller price: the market fears Novo's future more than it disrespects Pfizer's present, a sentence worth reading twice.
Comparison updated 2026-07-10.
| Metric | NVO | PFE |
|---|---|---|
| Price | $48.01 | $24.27 |
| Market cap | $213.3B | $139.1B |
| Sector | Drug Manufacturers | Drug Manufacturers |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | -3.9% |
| P/E | 14.2 | 18.5 |
| P/B | 7.47 | 1.54 |
| P/S | 4.69 | 2.20 |
| EV/EBITDA | 10.0 | 30.6 |
| Revenue growth | +22.1% | +2.1% |
| Gross margin | 81.0% | — |
| Operating margin | 41.3% | — |
| Net margin | 33.1% | 11.8% |
| Return on equity | 52.8% | 8.3% |
| Return on assets | 18.9% | 3.6% |
| Return on invested capital | 51.6% | — |
| FCF yield | 4.1% | 6.8% |
| Dividend yield | — | 7.1% |
| Debt / equity | 0.00 | 0.71 |
| Current ratio | 0.80 | 1.25 |
| Altman Z (solvency) | 4.25 | 1.86 |
| Piotroski F (quality) | 4 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.