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NVSEF - Novo Nordisk: Long-Term Growth By CV Risk Factor Reduction
Novartis Ag Basel Akt
Background - Liking the setup
Novo Nordisk (NVO) is trading at a 23X TTM P/E. This is below that of the S&P 500 (SPY) - of which it cannot be a member as a Danish company - which is now at 24X peak (CY 2019) GAAP EPS of $139, and a much higher P/E based on current earnings. Unlike most companies in the SPY, NVO is debt-free and therefore has high-quality, unleveraged earnings. By itself, this characteristic merits a premium multiple.
Better, NVO is run by a charitable foundation for long-term