NOVTNasdaqMiscellaneous Electrical Machinery, Equipment & SuppliesFiscal year ends December 31Also trades as NOVTU
NOVANTA INC
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Aug 5, 2026
$131.52+2.73 (+2.12%)
Close on Oct 19, 2026
- Market cap
- $5.41B
- P/E (TTM)
- 84.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
44.4%+3.0 pts over 5 years
Operating margin
9.6%+0.1 pts over 5 years
Net margin
5.5%−2.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.3% | +4.4% | +10.7% | +10.1% | |
| Gross profit | +3.3% | +4.8% | +12.2% | +10.7% | |
| Operating income | -15.0% | -3.0% | +11.0% | +12.5% | |
| Net income | -16.0% | -10.1% | +3.9% | +4.2% | |
| EPS, diluted | -16.9% | -10.6% | +3.3% | +3.7% | |
| Free cash flow | -65.7% | -12.0% | -17.9% | +5.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 8.7% | 10.0% | 5.2% | |
| Return on assets | 5.2% | 5.1% | 3.4% | |
| Current ratio | 2.83 | 2.66 | 3.69 | |
| Debt to equity | 0.30 | 0.42 | 0.19 | |
| Net debt to EBITDA | 0.18× | 0.80× | -0.83× | |
| Inventory turnover | 3.7× | 3.3× | 3.3× | |
| Capex to revenue | 2.2% | 1.8% | 1.6% | |
| Diluted shares | 35M | 36M | 37M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Novanta generated $528.05M from operations and spent $141.65M on capital expenditure, dividends and share buybacks. 65% of that went back into the business.
Generated
$528.05M
Used
$141.65M
Capital expenditure$92.37M65%Dividends$00%Share buybacks$49.28M35%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.5%
×Asset turnover0.61×
×Equity multiplier1.55×
=Return on equity, FY20255.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.5% | 0.61× | 1.55× | 5.2% |
| FY2024 | 6.8% | 0.73× | 1.84× | 9.0% |
| FY2023 | 8.3% | 0.71× | 1.97× | 11.7% |
| FY2022 | 8.6% | 0.70× | 2.25× | 13.5% |
| FY2021 | 7.1% | 0.68× | 2.10× | 10.1% |
| FY2020 | 7.5% | 0.68× | 1.94× | 10.0% |
| FY2019 | 6.5% | 0.79× | 2.02× | 10.4% |
| FY2018 | 8.0% | 0.85× | 2.13× | 14.4% |
| FY2017 | 11.5% | 0.90× | 2.02× | 21.1% |
| FY2016 | 5.7% | 0.91× | 1.67× | 8.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$53.83M
- Cash generatingOperating cash flow above zero$64.06M
- Return on assets improvedROA up on the prior year5.2% → 3.9%
- Earnings backed by cashOperating cash flow above net income$64.06M vs $53.83M
- Less leverageLong-term debt to assets fell29.7% → 11.8%
- Better liquidityCurrent ratio rose2.58 → 3.69
- No dilutionShare count did not rise36M → 37M
- Gross margin improvedGross margin up on the prior year44.41% → 44.39%
- More efficientAsset turnover rose0.77 → 0.71