BIIB vs. NVO: Biogen vs. Novo Nordisk Stock Comparison

November 11, 2026

How do Biogen (BIIB) 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

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

Biogen (BIIB) 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 Biogen (BIIB) and Novo Nordisk (NVO)
Profile Item	BIIB	NVO
Name	Biogen 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	Biotechnology	Pharmaceuticals
GICS Sub-Industry	Biotechnology	Pharmaceuticals
Market Capitalization	36.71 billion USD	177.74 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	September 17, 1991	April 30, 1981
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

BIIB

NVO

GSPC

Biogen (BIIB) 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 Biogen (BIIB) and Novo Nordisk (NVO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
Total Return (1Y)	65.44%	-5.29%
Total Return (3Y, Annualized)	4.62%	-23.41%
Total Return (5Y, Annualized)	-0.96%	-4.13%

Risk Profile

Drawdown History

BIIB

NVO

GSPC

Biogen (BIIB) 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 Biogen (BIIB) and Novo Nordisk (NVO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
Volatility (1Y, Annualized)	34.58%	45.98%
Beta (5Y)	0.08	0.67
Max Drawdown (5Y)	-64.35%	-74.70%
Avg. Volume (3M)	1.05M	12.11M

Risk-Adjusted Performance

Risk-Return Positioning

BIIB 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 Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
Sharpe Ratio (1Y)	1.77	-0.21
Sortino Ratio (1Y)	2.77	-0.28

Profitability

ROE (TTM)

Novo Nordisk (NVO) at 58.38% sits in the top ROE quartile, while Biogen (BIIB) at 1.87% is closer to the peer norm — stronger capital efficiency for NVO.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.87%

Max: 109.18%
Q3: 6.23%
BIIB: 1.87%
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%

Biogen (BIIB) 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% converts revenue to bottom-line profit above its industry’s benchmark range, while Biogen (BIIB) at 3.38% keeps roughly the typical share for its industry.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.38%

Max: 18.05%
Q3: 4.78%
BIIB: 3.38%
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%

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

Operating Margin (TTM)

Both Biogen (BIIB) at 24.12% and Novo Nordisk (NVO) at 40.05% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

24.12%

Max: 83.12%
BIIB: 24.12%
Q3: 14.77%
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%

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

Profitability Metrics

Profitability metrics for Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
ROE (TTM)	1.87%	58.38%
ROA (TTM)	4.94%	19.05%
Net Margin (TTM)	3.38%	33.92%
Operating Margin (TTM)	24.12%	40.05%
Gross Margin (TTM)	75.77%	83.33%

Growth

Revenue Growth

Both Biogen (BIIB) at 2.22% and Novo Nordisk (NVO) at 6.43% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

Both Biogen (BIIB) at -21.38% and Novo Nordisk (NVO) at 1.77% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
Revenue Growth (YoY)	2.22%	6.43%
Revenue Growth (3Y CAGR)	-0.94%	20.43%
EPS Growth (YoY)	-21.38%	1.77%
EPS Growth (3Y CAGR)	-25.04%	23.52%

Financial Strength

Current Ratio (MRQ)

Both Biogen (BIIB) at 1.95 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.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.95

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
BIIB: 1.95
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

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

Debt / Equity (MRQ)

Both Biogen (BIIB) at 0.41 and Novo Nordisk (NVO) at 0.62 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.41

Max: 1.42
Q3: 0.65
BIIB: 0.41
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

Biogen (BIIB) 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 Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
Current Ratio (MRQ)	1.95	0.85
Debt / Equity (MRQ)	0.41	0.62
Net Debt / EBITDA	1.97	0.49

Dividends

Dividend Yield (TTM)

Biogen (BIIB) 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.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

BIIB: 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%

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

Dividend Payout Ratio (TTM)

Biogen (BIIB) 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.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

BIIB: 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%

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

Dividend Metrics

Dividend metrics for Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	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 Biogen (BIIB) at 107.51 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

107.51

BIIB: 107.51
Max: 85.34
Q3: 43.46
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

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

P/S Ratio (TTM)

Novo Nordisk (NVO) at 0.53 sits in the cheaper P/S ratio quartile while Biogen (BIIB) at 3.57 prices around its industry’s middle — NVO costs less per dollar of sales, though read it alongside growth and margins.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.57

Max: 58.18
Q3: 25.77
Median: 7.30
BIIB: 3.57
Q1: 3.01
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

Biogen (BIIB) 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 Biogen (BIIB) at 1.94 and Novo Nordisk (NVO) at 5.43 are valued close to their industries’ norm against book — neither stands out from peers.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.94

Max: 13.53
Q3: 6.54
Median: 3.25
BIIB: 1.94
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

Biogen (BIIB) 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 Biogen (BIIB) and Novo Nordisk (NVO)
Metric	BIIB	NVO
P/E Ratio (TTM)	107.51	10.18
P/S Ratio (TTM)	3.57	0.53
P/B Ratio (MRQ)	1.94	5.43
Free Cash Flow Yield (TTM)	2.20%	18.43%