LLY vs. NVO

Last updated Apr 1, 2026

Compare and contrast key facts about Eli Lilly and Company (LLY) and Novo Nordisk A/S (NVO).

Performance

LLY vs. NVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eli Lilly and Company (LLY) and Novo Nordisk A/S (NVO). The values are adjusted to include any dividend payments, if applicable.

LLY vs. NVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LLY Eli Lilly and Company	-14.27%	40.25%	33.30%	60.91%	34.26%	66.08%	31.04%	16.14%	40.45%	17.83%
NVO Novo Nordisk A/S	-25.12%	-39.22%	-15.93%	54.84%	22.66%	63.52%	23.33%	28.70%	-12.98%	52.92%

Fundamentals

Market Cap LLY : $825.96B NVO : $163.46B
EPS LLY : $22.96 NVO : $22.15
PE Ratio LLY : 40.06 NVO : 1.66
PEG Ratio LLY : 0.81 NVO : 0.07
PS Ratio LLY : 12.68 NVO : 0.55
PB Ratio LLY : 31.13 NVO : 0.84
Total Revenue (TTM) LLY : $65.18B NVO : $297.20B
Gross Profit (TTM) LLY : $54.62B NVO : $240.66B
EBITDA (TTM) LLY : $27.94B NVO : $153.18B

Returns By Period

In the year-to-date period, LLY achieves a -14.27% return, which is significantly higher than NVO's -25.12% return. Over the past 10 years, LLY has outperformed NVO with an annualized return of 30.92%, while NVO has yielded a comparatively lower 5.13% annualized return.

LLY

• 1D: 3.74%
• 1M: -12.57%
• YTD: -14.27%
• 6M: 20.93%
• 1Y: 12.19%
• 3Y*: 39.90%
• 5Y*: 39.16%
• 10Y*: 30.92%

NVO

• 1D: 4.14%
• 1M: 1.73%
• YTD: -25.12%
• 6M: -31.34%
• 1Y: -44.52%
• 3Y*: -20.64%
• 5Y*: 3.88%
• 10Y*: 5.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

LLY vs. NVO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LLY

LLY Risk / Return Rank: 51
LLY Sharpe Ratio Rank: 53
LLY Sortino Ratio Rank: 48
LLY Omega Ratio Rank: 49
LLY Calmar Ratio Rank: 53
LLY Martin Ratio Rank: 54

NVO

NVO Risk / Return Rank: 12
NVO Sharpe Ratio Rank: 8
NVO Sortino Ratio Rank: 11
NVO Omega Ratio Rank: 11
NVO Calmar Ratio Rank: 14
NVO Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LLY vs. NVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eli Lilly and Company (LLY) and Novo Nordisk A/S (NVO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	LLY	NVO	Difference
Sharpe ratio Return per unit of total volatility	0.29	-0.82	+1.11
Sortino ratio Return per unit of downside risk	0.69	-1.02	+1.71
Omega ratio Gain probability vs. loss probability	1.10	0.86	+0.24
Calmar ratio Return relative to maximum drawdown	0.42	-0.79	+1.21
Martin ratio Return relative to average drawdown	1.02	-1.37	+2.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LLY vs. NVO - Sharpe Ratio Comparison

The current LLY Sharpe Ratio is 0.29, which is higher than the NVO Sharpe Ratio of -0.82. The chart below compares the historical Sharpe Ratios of LLY and NVO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LLY	NVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	-0.82	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	0.10	+1.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.04	0.16	+0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.46	+0.10

Correlation

The correlation between LLY and NVO is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LLY vs. NVO - Dividend Comparison

LLY's dividend yield for the trailing twelve months is around 0.68%, less than NVO's 5.06% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LLY Eli Lilly and Company	0.68%	0.56%	0.67%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%
NVO Novo Nordisk A/S	5.06%	3.31%	1.68%	1.00%	1.20%	1.35%	1.87%	2.14%	1.45%	1.52%	2.87%	0.92%

Drawdowns

LLY vs. NVO - Drawdown Comparison

The maximum LLY drawdown since its inception was -68.24%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for LLY and NVO.

Drawdown Indicators

	LLY	NVO	Difference
Max Drawdown Largest peak-to-trough decline	-68.24%	-74.70%	+6.46%
Max Drawdown (1Y) Largest decline over 1 year	-30.26%	-55.03%	+24.77%
Max Drawdown (5Y) Largest decline over 5 years	-34.48%	-74.70%	+40.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.48%	-74.70%	+40.22%
Current Drawdown Current decline from peak	-17.00%	-73.25%	+56.25%
Average Drawdown Average peak-to-trough decline	-19.25%	-17.55%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.39%	31.69%	-19.30%

Volatility

LLY vs. NVO - Volatility Comparison

The current volatility for Eli Lilly and Company (LLY) is 9.04%, while Novo Nordisk A/S (NVO) has a volatility of 9.88%. This indicates that LLY experiences smaller price fluctuations and is considered to be less risky than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LLY	NVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	9.88%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	26.21%	38.79%	-12.58%
Volatility (1Y) Calculated over the trailing 1-year period	42.44%	54.20%	-11.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.14%	37.82%	-5.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.80%	32.29%	-2.49%

Financials

LLY vs. NVO - Profitability Comparison

The chart below illustrates the profitability comparison between Eli Lilly and Company and Novo Nordisk A/S over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LLY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Eli Lilly and Company reported a gross profit of 16.41B and revenue of 19.29B. Therefore, the gross margin over that period was 85.1%.

NVO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Novo Nordisk A/S reported a gross profit of 54.38B and revenue of 67.28B. Therefore, the gross margin over that period was 80.8%.

LLY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Eli Lilly and Company reported an operating income of 8.78B and revenue of 19.29B, resulting in an operating margin of 45.5%.

NVO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Novo Nordisk A/S reported an operating income of 27.12B and revenue of 67.28B, resulting in an operating margin of 40.3%.

LLY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Eli Lilly and Company reported a net income of 6.64B and revenue of 19.29B, resulting in a net margin of 34.4%.

NVO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Novo Nordisk A/S reported a net income of 22.96B and revenue of 67.28B, resulting in a net margin of 34.1%.