AVTR vs. NVO: Avantor vs. Novo Nordisk Stock Comparison

November 11, 2026

How do Avantor (AVTR) and Novo Nordisk (NVO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Avantor (AVTR) and Novo Nordisk (NVO) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but AVTR is classified in Life Sciences Tools & Services while NVO is classified in Pharmaceuticals.

Avantor (AVTR) trades as ordinary local shares, while Novo Nordisk (NVO) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Avantor (AVTR) and Novo Nordisk (NVO)
Profile Item	AVTR	NVO
Name	Avantor, Inc.	Novo Nordisk A/S Sponsored ADR
Country/Region	United States	Denmark
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Life Sciences Tools & Services	Pharmaceuticals
GICS Sub-Industry	Life Sciences Tools & Services	Pharmaceuticals
Market Capitalization	10.48 billion USD	177.74 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 2019	April 30, 1981
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

AVTR

NVO

GSPC

Avantor (AVTR) vs. Novo Nordisk (NVO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Avantor (AVTR) and Novo Nordisk (NVO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Avantor (AVTR) and Novo Nordisk (NVO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Total Return (1Y)	36.41%	-5.29%
Total Return (3Y, Annualized)	-5.02%	-23.41%
Total Return (5Y, Annualized)	-16.62%	-4.13%

Risk Profile

Drawdown History

AVTR

NVO

GSPC

Avantor (AVTR) vs. Novo Nordisk (NVO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Avantor (AVTR) and Novo Nordisk (NVO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Volatility (1Y, Annualized)	43.39%	45.98%
Beta (5Y)	0.94	0.67
Max Drawdown (5Y)	-82.42%	-74.70%
Avg. Volume (3M)	8.56M	12.11M

Risk-Adjusted Performance

Risk-Return Positioning

AVTR and NVO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Sharpe Ratio (1Y)	0.74	-0.21
Sortino Ratio (1Y)	1.17	-0.28

Profitability

ROE (TTM)

Novo Nordisk (NVO) at 58.38% sits in the top ROE quartile, while Avantor (AVTR) at 5.91% is closer to the peer norm — stronger capital efficiency for NVO.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.91%

Max: 109.18%
Q3: 6.23%
AVTR: 5.91%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

58.38%

Max: 109.18%
NVO: 58.38%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Novo Nordisk (NVO) at 33.92% keeps the most of each sales dollar — above its industry’s net margin range — and Avantor (AVTR) at 5.08% also retains a top-quartile share.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.08%

Max: 18.05%
AVTR: 5.08%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

33.92%

NVO: 33.92%
Max: 18.05%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Novo Nordisk (NVO) at 40.05% operates in the top operating margin quartile, ahead of Avantor (AVTR) at 8.19%, which runs around its industry’s norm.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.19%

Max: 83.12%
Q3: 14.77%
AVTR: 8.19%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

40.05%

Max: 83.12%
NVO: 40.05%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
ROE (TTM)	5.91%	58.38%
ROA (TTM)	2.83%	19.05%
Net Margin (TTM)	5.08%	33.92%
Operating Margin (TTM)	8.19%	40.05%
Gross Margin (TTM)	31.59%	83.33%

Growth

Revenue Growth

Novo Nordisk (NVO) at 6.43% is around its peer norm for revenue growth, while Avantor (AVTR) at -3.41% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Novo Nordisk (NVO) at 1.77% is around its peer norm for EPS growth, while Avantor (AVTR) at -175.00% drops into the bottom quartile, signaling weaker earnings momentum.

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Revenue Growth (YoY)	-3.41%	6.43%
Revenue Growth (3Y CAGR)	-4.46%	20.43%
EPS Growth (YoY)	-175.00%	1.77%
EPS Growth (3Y CAGR)	--	23.52%

Financial Strength

Current Ratio (MRQ)

Both Avantor (AVTR) at 1.89 and Novo Nordisk (NVO) at 0.85 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.89

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
AVTR: 1.89
Min: 0.10

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.85

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
NVO: 0.85
Min: 0.10

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their current ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Debt / Equity (MRQ)

Both Avantor (AVTR) at 0.63 and Novo Nordisk (NVO) at 0.62 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.63

Max: 1.42
Q3: 0.65
AVTR: 0.63
Median: 0.15
Q1: 0.02
Min: 0.00

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.62

Max: 1.42
Q3: 0.65
NVO: 0.62
Median: 0.15
Q1: 0.02
Min: 0.00

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Current Ratio (MRQ)	1.89	0.85
Debt / Equity (MRQ)	0.63	0.62
Net Debt / EBITDA	3.40	0.49

Dividends

Dividend Yield (TTM)

Avantor (AVTR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Novo Nordisk (NVO) reports a yield of 29.03%, ranking against industry peers normally.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

AVTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

29.03%

NVO: 29.03%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Avantor (AVTR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Novo Nordisk (NVO) reports a payout of 45.36%, ranking against industry peers normally.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

AVTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

45.36%

NVO: 45.36%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
Dividend Yield (TTM)	0.00%	29.03%
Dividend Payout Ratio (TTM)	0.00%	45.36%

Valuation

P/E Ratio (TTM)

Novo Nordisk (NVO) at 10.18 sits in the cheaper P/E ratio quartile, while Avantor (AVTR) at 30.94 is closer to its industry’s usual earnings multiple — a discount for NVO, though growth and earnings durability still matter.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

30.94

Max: 85.34
Q3: 43.46
AVTR: 30.94
Median: 26.69
Q1: 13.30
Min: 0.07

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

10.18

Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
NVO: 10.18
Min: 0.07

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

Both Avantor (AVTR) at 1.58 and Novo Nordisk (NVO) at 0.53 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.58

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
AVTR: 1.58
Min: 0.01

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.53

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
NVO: 0.53
Min: 0.01

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Avantor (AVTR) at 1.80 and Novo Nordisk (NVO) at 5.43 are valued close to their industries’ norm against book — neither stands out from peers.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.80

Max: 13.53
Q3: 6.54
Median: 3.25
AVTR: 1.80
Q1: 1.69
Min: -5.59

NVO

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.43

Max: 13.53
Q3: 6.54
NVO: 5.43
Median: 3.25
Q1: 1.69
Min: -5.59

Avantor (AVTR) vs. Novo Nordisk (NVO): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Avantor (AVTR) and Novo Nordisk (NVO)
Metric	AVTR	NVO
P/E Ratio (TTM)	30.94	10.18
P/S Ratio (TTM)	1.58	0.53
P/B Ratio (MRQ)	1.80	5.43
Free Cash Flow Yield (TTM)	4.21%	18.43%