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Nova Ltd. (NVMI) stock analysis

NVMINasdaqOptical Instruments & LensesFiscal year ends December 31
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Feb 17, 2026Score 15/30
$340.62+14.92 (+4.58%)

Close on Nov 11, 2026Market cap $9.97BP/E 42.8Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value0Growth4Performance6Health5Dividend0

Solid15 of 30 checks passed

Nova passes 15 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
4/6
Past performance
6/6
Financial health
5/6
Dividend
0/6

What stands out

  • Return on equity over 15%

    Return on equity was 23.1% over the last twelve months and averaged 22.8% over five years.

  • Return on capital over 10%

    Return on invested capital was 32.5%, above the 10% that usually covers the cost of capital.

  • No debt

    Nova has no borrowings on its latest balance sheet.

  • Earnings grew over 5 years

    Net income grew 40.2% a year on average over the last five fiscal years.

What to watch

  • Gross margin slipping

    Gross margin was 57.4% over the last twelve months, against 57.6% a year earlier.

  • No dividend

    Nova has not paid a dividend in the last twelve months.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B against the industry

    Needs positive book value.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth4/6

  • Revenue growing 10%+ a year

    Revenue grew 15.6% a year over the last three fiscal years.

  • EPS growing 10%+ a year

    Diluted EPS grew 21.6% a year over the last three fiscal years.

  • Earnings growth accelerating

    Net income grew 41.1% over the last twelve months, against a 5-year average of 40.2% a year.

  • Growing faster than the industry

    Revenue grew 31.0% over the last twelve months; the Laboratory Apparatus and Analytical, Optical, Measuring, and Controlling Instruments median is 8.4%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 57.4% over the last twelve months, against 57.6% a year earlier.

Past performance6/6

  • Return on equity over 15%

    Return on equity was 23.1% over the last twelve months and averaged 22.8% over five years.

  • Return on capital over 10%

    Return on invested capital was 32.5%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Nova's return on equity of 23.1% is above the Laboratory Apparatus and Analytical, Optical, Measuring, and Controlling Instruments median of 1.1%.

  • Earnings grew over 5 years

    Net income grew 40.2% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 29.4% over the last twelve months, against a 5-year average of 26.0%.

  • Net margin above the industry

    Nova's net margin of 29.4% is above the Laboratory Apparatus and Analytical, Optical, Measuring, and Controlling Instruments median of -1.3%.

Financial health5/6

  • No debt

    Nova has no borrowings on its latest balance sheet.

  • Debt not rising

    With no debt today, leverage cannot have risen.

  • Debt covered by cash flow

    There is no debt to cover.

  • Interest well covered

    Operating income covers interest expense 127.0 times.

  • Short-term assets cover short-term debts

    Current assets are 6.28 times current liabilities.

  • Bankruptcy risk (Altman Z)

    Needs market value, working capital and retained earnings.

Dividend0/6

  • No dividend

    Nova has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Nova. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$97.23M
Value traded per 1% price move
$47.85M

Downside

Medium risk

Typical loss in a bad month
23.2%
Volatility (annualized)
60%
Sharpe ratio, 1 year
0.05
Beta to the S&P 500 (5Y)
1.60

Typical bad-month loss, week by week

25%: high

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

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