NVO vs. AZN

Last updated Apr 1, 2026

Compare and contrast key facts about Novo Nordisk A/S (NVO) and AstraZeneca PLC (AZN).

Performance

NVO vs. AZN - Performance Comparison

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

NVO vs. AZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
AZN AstraZeneca PLC	9.51%	43.30%	-0.62%	1.44%	19.14%	19.66%	3.12%	35.68%	13.86%	33.10%

Fundamentals

Market Cap NVO : $163.46B AZN : $308.06B
EPS NVO : $22.15 AZN : $6.55
PE Ratio NVO : 1.66 AZN : 30.10
PEG Ratio NVO : 0.07 AZN : 0.04
PS Ratio NVO : 0.55 AZN : 5.24
PB Ratio NVO : 0.84 AZN : 6.33
Total Revenue (TTM) NVO : $297.20B AZN : $58.74B
Gross Profit (TTM) NVO : $240.66B AZN : $48.11B
EBITDA (TTM) NVO : $153.18B AZN : $19.83B

Returns By Period

In the year-to-date period, NVO achieves a -25.12% return, which is significantly lower than AZN's 9.51% return. Over the past 10 years, NVO has underperformed AZN with an annualized return of 5.13%, while AZN has yielded a comparatively higher 16.71% annualized return.

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%

AZN

• 1D: 1.72%
• 1M: -5.39%
• YTD: 9.51%
• 6M: 31.22%
• 1Y: 37.92%
• 3Y*: 15.06%
• 5Y*: 17.44%
• 10Y*: 16.71%

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

Return for Risk

NVO vs. AZN — Risk / Return Rank

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

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

AZN

AZN Risk / Return Rank: 83
AZN Sharpe Ratio Rank: 83
AZN Sortino Ratio Rank: 81
AZN Omega Ratio Rank: 78
AZN Calmar Ratio Rank: 87
AZN Martin Ratio Rank: 86

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.

NVO vs. AZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and AstraZeneca PLC (AZN). 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.

	NVO	AZN	Difference
Sharpe ratio Return per unit of total volatility	-0.82	1.40	-2.23
Sortino ratio Return per unit of downside risk	-1.02	2.07	-3.09
Omega ratio Gain probability vs. loss probability	0.86	1.27	-0.41
Calmar ratio Return relative to maximum drawdown	-0.79	3.20	-3.99
Martin ratio Return relative to average drawdown	-1.37	8.03	-9.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVO vs. AZN - Sharpe Ratio Comparison

The current NVO Sharpe Ratio is -0.82, which is lower than the AZN Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of NVO and AZN, 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

	NVO	AZN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.82	1.40	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.74	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.67	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.51	-0.04

Correlation

The correlation between NVO and AZN is 0.32, 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

NVO vs. AZN - Dividend Comparison

NVO's dividend yield for the trailing twelve months is around 5.06%, more than AZN's 2.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
AZN AstraZeneca PLC	2.70%	1.70%	2.27%	2.15%	2.12%	2.35%	2.80%	2.81%	3.69%	3.95%	5.01%	4.06%

Drawdowns

NVO vs. AZN - Drawdown Comparison

The maximum NVO drawdown since its inception was -74.70%, which is greater than AZN's maximum drawdown of -48.94%. Use the drawdown chart below to compare losses from any high point for NVO and AZN.

Drawdown Indicators

	NVO	AZN	Difference
Max Drawdown Largest peak-to-trough decline	-74.70%	-48.94%	-25.76%
Max Drawdown (1Y) Largest decline over 1 year	-55.03%	-12.24%	-42.79%
Max Drawdown (5Y) Largest decline over 5 years	-74.70%	-27.87%	-46.83%
Max Drawdown (10Y) Largest decline over 10 years	-74.70%	-27.87%	-46.83%
Current Drawdown Current decline from peak	-73.25%	-5.39%	-67.86%
Average Drawdown Average peak-to-trough decline	-17.55%	-11.39%	-6.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.69%	4.88%	+26.81%

Volatility

NVO vs. AZN - Volatility Comparison

Novo Nordisk A/S (NVO) has a higher volatility of 9.88% compared to AstraZeneca PLC (AZN) at 6.95%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than AZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVO	AZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.88%	6.95%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	38.79%	19.14%	+19.65%
Volatility (1Y) Calculated over the trailing 1-year period	54.20%	27.28%	+26.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.82%	23.83%	+13.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.29%	24.90%	+7.39%

Financials

NVO vs. AZN - Profitability Comparison

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

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%.

AZN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, AstraZeneca PLC reported a gross profit of 12.39B and revenue of 15.50B. Therefore, the gross margin over that period was 79.9%.

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%.

AZN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, AstraZeneca PLC reported an operating income of 2.98B and revenue of 15.50B, resulting in an operating margin of 19.2%.

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%.

AZN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, AstraZeneca PLC reported a net income of 2.33B and revenue of 15.50B, resulting in a net margin of 15.0%.