NVMINasdaqOptical Instruments & LensesFiscal year ends December 31
NOVA LTD.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Feb 17, 2026
$319.10−2.10 (-0.65%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 40.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
57.4%+1.3 pts over 5 years
Operating margin
28.8%+8.2 pts over 5 years
Net margin
29.4%+11.7 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 | +31.0% | +15.6% | +26.7% | +19.5% | |
| Gross profit | +30.5% | +16.8% | +27.3% | +20.7% | |
| Operating income | +35.2% | +19.1% | +35.5% | +36.2% | |
| Net income | +41.1% | +22.7% | +40.2% | +32.3% | |
| EPS, diluted | +38.4% | +21.6% | +37.0% | +30.2% | |
| Free cash flow | -0.1% | +30.4% | +32.3% | +26.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 5.7% | 14.0% | 23.1% | |
| Return on assets | 4.5% | 9.1% | 13.8% | |
| Current ratio | 4.30 | 9.17 | 6.28 | |
| Interest coverage | – | 64.0× | 127.0× | |
| Inventory turnover | 3.1× | 2.1× | 2.2× | |
| Capex to revenue | 1.9% | 2.4% | 3.1% | |
| Diluted shares | 28M | 29M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
NOVA generated $856.21M from operations and spent $174.76M on capital expenditure, dividends and share buybacks. 50% of that went back into the business.
Generated
$856.21M
Used
$174.76M
Capital expenditure$88.23M50%Dividends$00%Share buybacks$86.53M50%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin29.4%
×Asset turnover0.47×
×Equity multiplier1.67×
=Return on equity, FY202523.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 29.4% | 0.47× | 1.67× | 23.1% |
| FY2024 | 27.3% | 0.53× | 1.50× | 21.9% |
| FY2023 | 26.3% | 0.49× | 1.58× | 20.4% |
| FY2022 | 24.6% | 0.64× | 1.69× | 26.4% |
| FY2021 | 22.4% | 0.57× | 1.73× | 22.0% |
| FY2020 | 17.8% | 0.51× | 1.54× | 14.0% |
| FY2019 | 15.6% | 0.61× | 1.23× | 11.8% |
| FY2018 | 21.7% | 0.81× | 1.22× | 21.4% |
| FY2017 | 20.9% | 0.88× | 1.25× | 23.1% |
| FY2016 | 5.9% | 0.77× | 1.27× | 5.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$259.22M
- Cash generatingOperating cash flow above zero$245.61M
- Return on assets improvedROA up on the prior year16.2% → 18.6%
- Earnings backed by cashOperating cash flow above net income$245.61M vs $259.22M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.32 → 6.28
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year57.57% → 57.37%
- More efficientAsset turnover rose0.59 → 0.63