Novanta Inc. (NOVT) Key Metrics
NOVT valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $4.87B
- Enterprise value
- $5.03B
- P/E (TTM)
- 81.5 10-yr median 79.1
- Forward P/E
- 8.4
- PEG ratio
- 2.11
- Price / sales
- 4.7 10-yr median 5.3
- Price / book
- 3.4 10-yr median 7.5
- EV / EBITDA
- 27.7 10-yr median 31.5
- Dividend yield
- —
- Beta
- 1.73
NOVT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNOVT valuation Price multiples at each fiscal year-end price.
NOVT returns How much profit the business earns on the capital it uses.
NOVT per-share figures Results divided by the shares outstanding at year-end.
NOVT financial health Debt, liquidity and how easily interest is covered.
NOVT efficiency & capital use Working capital cycle and where the cash goes.
NOVT valuation history
NOVT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NOVT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NOVT cash returned to shareholders
NOVT price vs earnings per share
NOVT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.37B | $5.52B | $6.07B | $4.88B | $6.31B | $4.22B | $3.14B | $2.23B | $1.76B | $733.2M |
| Enterprise value | $4.33B | $5.88B | $6.37B | $5.27B | $6.69B | $4.35B | $3.34B | $2.36B | $1.90B | $751.1M |
| P/E ratio | 81.1 | 86.1 | 83.3 | 65.9 | 125.4 | 94.7 | 77.1 | 45.5 | 29.4 | 33.3 |
| Price / sales | 4.5 | 5.8 | 6.9 | 5.7 | 8.9 | 7.1 | 5.0 | 3.6 | 3.4 | 1.9 |
| Price / book | 3.3 | 7.4 | 9.0 | 8.4 | 12.1 | 8.8 | 7.5 | 6.1 | 5.7 | 2.8 |
| Price / free cash flow | 90.2 | 39.0 | 60.6 | 68.6 | 87.1 | 32.5 | 59.9 | 29.8 | 32.5 | 18.6 |
| Price / operating cash flow | 68.2 | 34.8 | 50.5 | 53.7 | 66.7 | 30.1 | 49.7 | 24.9 | 27.8 | 15.3 |
| EV / sales | 4.4 | 6.2 | 7.2 | 6.1 | 9.5 | 7.4 | 5.3 | 3.8 | 3.6 | 2.0 |
| EV / EBITDA | 28.3 | 32.7 | 37.5 | 32.8 | 53.3 | 44.3 | 30.3 | 20.3 | 18.9 | 12.2 |
| EV / free cash flow | 89.4 | 41.6 | 63.6 | 74.1 | 92.3 | 33.5 | 63.6 | 31.5 | 35.0 | 19.1 |
| Earnings yield | 1.2% | 1.2% | 1.2% | 1.5% | 0.8% | 1.1% | 1.3% | 2.2% | 3.4% | 3.0% |
| Free cash flow yield | 1.1% | 2.6% | 1.6% | 1.5% | 1.1% | 3.1% | 1.7% | 3.4% | 3.1% | 5.4% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.9% | 0.2% | 0.2% | 0.2% | 0.5% | 0.1% | 0.3% | 0.3% | 0.0% | 0.2% |
| Share price at fiscal year-end | $118.99 | $152.77 | $168.41 | $135.87 | $176.33 | $118.22 | $88.44 | $63.00 | $50.00 | $21.00 |
| Per share | ||||||||||
| Revenue per share | $26.72 | $26.28 | $24.47 | $23.97 | $19.75 | $16.57 | $17.61 | $17.32 | $14.78 | $11.02 |
| Earnings per share | $1.47 | $1.77 | $2.02 | $2.06 | $1.41 | $1.25 | $1.15 | $1.38 | $1.70 | $0.63 |
| Operating cash flow per share | $1.75 | $4.39 | $3.33 | $2.53 | $2.64 | $3.93 | $1.78 | $2.53 | $1.80 | $1.37 |
| Free cash flow per share | $1.32 | $3.91 | $2.78 | $1.98 | $2.02 | $3.64 | $1.48 | $2.11 | $1.54 | $1.13 |
| Cash per share | $10.38 | $3.16 | $2.92 | $2.79 | $3.28 | $3.51 | $2.22 | $2.31 | $2.84 | $1.95 |
| Book value per share | $35.81 | $20.64 | $18.69 | $16.08 | $14.57 | $13.37 | $11.74 | $10.38 | $8.83 | $7.41 |
| Tangible book value per share | $13.25 | −$0.67 | $1.22 | −$2.15 | −$5.01 | $1.19 | −$0.67 | $0.22 | −$1.54 | $2.55 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.43 | $0.48 | $0.55 | $0.55 | $0.62 | $0.30 | $0.30 | $0.41 | $0.26 | $0.24 |
| Debt per share | $9.31 | $13.04 | $11.23 | $13.63 | $13.79 | $7.15 | $7.76 | $5.85 | $6.65 | $2.46 |
| Shares outstanding | 36.7M | 36.1M | 36.0M | 35.9M | 35.8M | 35.7M | 35.5M | 35.5M | 35.3M | 34.9M |
| Change in shares outstanding | +1.6% | +0.3% | +0.3% | +0.4% | +0.4% | +0.3% | +0.2% | +0.5% | +1.0% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 5.2% | 9.0% | 11.7% | 13.5% | 10.1% | 10.0% | 10.4% | 14.4% | 21.1% | 8.7% |
| Return on invested capital (ROIC) | 7.6% | 8.6% | 9.9% | 9.4% | 7.6% | 8.4% | 8.9% | 12.6% | 13.0% | 7.9% |
| Return on assets (ROA) | 3.4% | 4.9% | 5.9% | 6.0% | 4.8% | 5.1% | 5.1% | 6.8% | 10.4% | 5.2% |
| Return on tangible assets | 5.5% | 10.4% | 12.2% | 12.6% | 9.5% | 10.3% | 9.5% | 13.7% | 16.6% | 8.6% |
| Free cash flow margin | 4.9% | 14.9% | 11.4% | 8.3% | 10.3% | 22.0% | 8.4% | 12.2% | 10.4% | 10.2% |
| Income quality (OCF / net income) | 1.19 | 2.47 | 1.65 | 1.23 | 1.88 | 3.15 | 1.55 | 1.83 | 1.06 | 2.17 |
| Financial health | ||||||||||
| Total debt | $341.6M | $471.0M | $404.6M | $489.4M | $493.4M | $255.1M | $275.7M | $207.4M | $234.6M | $86.0M |
| Cash & short-term investments | $380.9M | $114.0M | $105.1M | $100.1M | $117.4M | $125.1M | $78.9M | $82.0M | $100.1M | $68.1M |
| Net debt | −$39.3M | $357.0M | $299.5M | $389.3M | $376.0M | $130.0M | $196.7M | $125.3M | $134.6M | $17.9M |
| Debt / equity | 0.26 | 0.63 | 0.60 | 0.85 | 0.95 | 0.53 | 0.66 | 0.56 | 0.75 | 0.33 |
| Debt / assets | 0.19 | 0.34 | 0.33 | 0.39 | 0.40 | 0.29 | 0.32 | 0.29 | 0.32 | 0.20 |
| Net debt / EBITDA | −0.26 | 1.98 | 1.76 | 2.42 | 3.00 | 1.33 | 1.79 | 1.08 | 1.34 | 0.29 |
| Current ratio | 3.69 | 2.58 | 2.98 | 2.56 | 2.03 | 2.66 | 2.26 | 2.70 | 2.93 | 2.83 |
| Quick ratio | 2.80 | 1.72 | 1.91 | 1.53 | 1.35 | 1.85 | 1.39 | 1.70 | 2.00 | 1.98 |
| Interest coverage | 5.4 | 3.5 | 4.3 | 6.6 | 8.7 | 8.5 | 6.5 | 7.2 | 8.0 | 7.2 |
| Working capital | $570.2M | $265.9M | $276.1M | $256.0M | $189.9M | $189.9M | $169.7M | $177.6M | $189.7M | $128.8M |
| Invested capital | $1.28B | $1.10B | $973.0M | $966.9M | $897.3M | $606.8M | $613.9M | $493.6M | $446.1M | $276.8M |
| Tangible asset value | $486.2M | −$24.2M | $43.9M | −$77.1M | −$179.2M | $42.3M | −$23.7M | $7.7M | −$7.6M | $89.0M |
| Net current asset value | $289.8M | −$209.2M | −$137.3M | −$243.1M | −$332.8M | −$84.2M | −$148.1M | −$69.6M | −$80.4M | $32.5M |
| Graham number | $34.38 | $28.71 | $29.17 | $27.32 | $21.47 | $19.38 | $17.40 | $17.98 | $18.39 | $10.25 |
| Graham net-net per share | $3.29 | −$9.50 | −$7.45 | −$10.48 | −$12.29 | −$4.51 | −$6.95 | −$4.34 | −$4.58 | −$0.60 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $39.3M | $9.7M | $10.6M | $10.0M | $30.8M | $5.5M | $10.0M | $5.8M | $370,000 | $1.6M |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 81.1% | 6.9% | 10.6% | 14.1% | 42.6% | 4.2% | 19.0% | 7.8% | 0.7% | 4.2% |
| Capex / revenue | 1.6% | 1.8% | 2.3% | 2.3% | 3.1% | 1.8% | 1.7% | 2.4% | 1.7% | 2.2% |
| Capex / operating cash flow | 24.4% | 10.8% | 16.6% | 21.6% | 23.4% | 7.5% | 17.0% | 16.4% | 14.3% | 17.7% |
| Capex / depreciation | 0.25 | 0.31 | 0.43 | 0.37 | 0.51 | 0.27 | 0.28 | 0.40 | 0.30 | 0.42 |
| Stock-based compensation / revenue | 3.0% | 2.5% | 2.9% | 2.7% | 3.6% | 3.9% | 1.5% | 1.3% | 1.1% | 1.1% |
| R&D / revenue | 9.7% | 10.1% | 10.4% | 10.0% | 10.3% | 10.3% | 8.9% | 8.3% | 8.0% | 8.3% |
| SG&A / revenue | 20.0% | 18.5% | 18.3% | 18.5% | 18.3% | 18.6% | 18.9% | 18.9% | 19.6% | 21.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 62.5 | 55.8 | 57.4 | 53.7 | 49.2 | 51.3 | 51.0 | 49.1 | 50.9 | 58.6 |
| Days of inventory on hand | 106.1 | 101.7 | 120.2 | 111.1 | 98.1 | 110.4 | 111.0 | 101.4 | 91.6 | 97.9 |
| Days payables outstanding | 54.7 | 46.4 | 50.2 | 54.4 | 50.1 | 50.4 | 51.8 | 46.8 | 43.7 | 46.5 |
| Cash conversion cycle (days) | 113.9 | 111.1 | 127.4 | 110.4 | 97.2 | 111.3 | 110.2 | 103.7 | 98.8 | 110.0 |
| Receivables turnover | 5.84 | 6.54 | 6.36 | 6.80 | 7.41 | 7.11 | 7.15 | 7.43 | 7.18 | 6.23 |
| Payables turnover | 6.67 | 7.87 | 7.28 | 6.71 | 7.29 | 7.24 | 7.05 | 7.79 | 8.35 | 7.85 |
| Inventory turnover | 3.44 | 3.59 | 3.04 | 3.29 | 3.72 | 3.31 | 3.29 | 3.60 | 3.98 | 3.73 |
| Asset turnover | 0.61 | 0.73 | 0.71 | 0.70 | 0.68 | 0.68 | 0.79 | 0.85 | 0.90 | 0.91 |
| Average receivables | $168.0M | $145.2M | $138.6M | $126.7M | $95.3M | $83.1M | $87.5M | $82.7M | $72.6M | $61.7M |
| Average payables | $85.9M | $67.0M | $66.2M | $71.9M | $55.7M | $47.8M | $51.7M | $45.3M | $36.0M | $28.3M |
| Average inventory | $166.4M | $147.0M | $158.7M | $146.8M | $109.2M | $104.7M | $110.7M | $98.0M | $75.5M | $59.7M |
| Intangibles / total assets | 45.8% | 55.5% | 51.3% | 52.7% | 57.0% | 50.2% | 50.7% | 50.1% | 50.4% | 39.9% |
Computed from NOVT's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NOVT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Novanta traded at 81.1 times earnings, against a 10-year median of 79.1. Based on the latest twelve months, the trailing P/E is 81.5 and the forward P/E is 8.4. Novanta earned a return on equity of 5.2% and a return on invested capital of 7.6% in fiscal 2025. It ended the year with $341.6 million of debt and $380.9 million in cash and short-term investments, a net cash position of $39.3 million. It returned $39.3 million to shareholders: $0 in dividends and $39.3 million in share buybacks, 81% of free cash flow. The share count rose 5.1% from 34.9M to 36.7M over 9 years.
See the NOVT income statement, the NOVT chart for price history, or the NOVT stock overview for the latest quote and news.
NOVT key metrics FAQ
What is Novanta's P/E ratio?
Novanta's trailing P/E ratio is 81.5 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 8.4. At the end of fiscal 2025 it was 81.1, compared with a 10-year median of 79.1.
What is Novanta's EV/EBITDA?
Novanta's enterprise value was 28.3 times EBITDA at the end of fiscal 2025 (enterprise value $4.3 billion, EBITDA $153.0 million); the current EV/EBITDA is 27.7.
What is Novanta's return on equity?
Novanta's return on equity (ROE) was 5.2% in fiscal 2025: net income of $53.8 million on average shareholders' equity of $1.0 billion.
What is Novanta's ROIC?
Novanta's return on invested capital was 7.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Novanta have?
Novanta had total debt of $341.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.26 and more cash than debt.
Does Novanta buy back its shares?
Yes. Novanta spent $39.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.6% over the year, to 36.7M..
What is Novanta's free cash flow yield?
Novanta generated $48.4 million of free cash flow in fiscal 2025, a free cash flow yield of 1.1% on its market value at year-end ($4.4 billion).
What is Novanta's current ratio?
Novanta's current ratio was 3.69 at the end of fiscal 2025: current assets were 3.69 times current liabilities.