Nova Ltd. (NVMI) Key Metrics
NVMI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.22B
- Enterprise value
- $11.42B
- P/E (TTM)
- 40.1 10-yr median 33.4
- Forward P/E
- 25.8
- PEG ratio
- 1.46
- Price / sales
- 10.9 10-yr median 6.2
- Price / book
- 7.9 10-yr median 5.0
- EV / EBITDA
- 38.7 10-yr median 21.9
- Dividend yield
- —
- Beta
- 1.78
NVMI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNVMI valuation Price multiples at each fiscal year-end price.
NVMI returns How much profit the business earns on the capital it uses.
NVMI per-share figures Results divided by the shares outstanding at year-end.
NVMI financial health Debt, liquidity and how easily interest is covered.
NVMI efficiency & capital use Working capital cycle and where the cash goes.
NVMI valuation history
NVMI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NVMI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NVMI cash returned to shareholders
NVMI price vs earnings per share
NVMI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.77B | $6.33B | $4.41B | $2.60B | $4.37B | $2.04B | $1.08B | $655.3M | $739.1M | $361.9M |
| Enterprise value | $10.58B | $5.98B | $4.21B | $2.48B | $4.18B | $1.83B | $925.2M | $479.4M | $590.0M | $271.0M |
| P/E ratio | 41.6 | 34.4 | 32.3 | 18.6 | 46.9 | 42.7 | 30.7 | 12.1 | 15.9 | 37.5 |
| Price / sales | 12.2 | 9.4 | 8.5 | 4.6 | 10.5 | 7.6 | 4.8 | 2.6 | 3.3 | 2.2 |
| Price / book | 8.2 | 6.8 | 5.9 | 4.4 | 9.2 | 5.5 | 3.4 | 2.3 | 3.3 | 2.1 |
| Price / free cash flow | 49.4 | 29.0 | 41.5 | 26.5 | 34.3 | 38.0 | 55.7 | 20.2 | 13.3 | — |
| Price / operating cash flow | 43.9 | 26.9 | 35.7 | 21.8 | 33.0 | 33.9 | 26.6 | 18.1 | 12.0 | — |
| EV / sales | 12.0 | 8.9 | 8.1 | 4.3 | 10.0 | 6.8 | 4.1 | 1.9 | 2.7 | 1.7 |
| EV / EBITDA | 38.0 | 25.4 | 24.4 | 14.2 | 34.1 | 27.9 | 19.5 | 7.0 | 9.2 | 16.2 |
| EV / free cash flow | 48.6 | 27.4 | 39.6 | 25.2 | 32.8 | 34.1 | 47.6 | 14.8 | 10.6 | — |
| Earnings yield | 2.4% | 2.9% | 3.1% | 5.4% | 2.1% | 2.3% | 3.3% | 8.3% | 6.3% | 2.7% |
| Free cash flow yield | 2.0% | 3.4% | 2.4% | 3.8% | 2.9% | 2.6% | 1.8% | 4.9% | 7.5% | −2.0% |
| Shareholder yield (dividends + buybacks) | 0.3% | 0.5% | 0.0% | 0.8% | 0.1% | 0.6% | 0.7% | 0.7% | 0.0% | 0.3% |
| Share price at fiscal year-end | $328.39 | $196.95 | $137.39 | $81.68 | $146.50 | $70.60 | $37.83 | $22.78 | $25.91 | $13.16 |
| Per share | ||||||||||
| Revenue per share | $26.85 | $20.92 | $16.14 | $17.91 | $13.96 | $9.31 | $7.87 | $8.73 | $7.78 | $5.96 |
| Earnings per share | $7.90 | $5.72 | $4.25 | $4.40 | $3.12 | $1.65 | $1.23 | $1.89 | $1.63 | $0.35 |
| Operating cash flow per share | $7.49 | $7.32 | $3.85 | $3.75 | $4.44 | $2.08 | $1.42 | $1.26 | $2.17 | −$0.15 |
| Free cash flow per share | $6.64 | $6.78 | $3.31 | $3.08 | $4.27 | $1.86 | $0.68 | $1.13 | $1.95 | −$0.27 |
| Cash per share | $31.97 | $18.25 | $13.83 | $11.72 | $13.76 | $14.64 | $6.62 | $6.11 | $5.23 | $3.31 |
| Book value per share | $40.19 | $28.87 | $23.40 | $18.42 | $15.89 | $12.83 | $11.01 | $9.76 | $7.95 | $6.35 |
| Tangible book value per share | $36.03 | $26.39 | $20.61 | $15.51 | $15.13 | $11.96 | $10.04 | $8.71 | $6.79 | $5.06 |
| Capex per share | $0.84 | $0.54 | $0.54 | $0.67 | $0.16 | $0.22 | $0.74 | $0.13 | $0.22 | $0.11 |
| Debt per share | $26.17 | $7.35 | $7.61 | $7.72 | $7.41 | $7.41 | $1.17 | — | — | — |
| Shares outstanding | 32.8M | 32.1M | 32.1M | 31.9M | 29.8M | 28.9M | 28.6M | 28.8M | 28.5M | 27.5M |
| Change in shares outstanding | +2.1% | +0.2% | +0.7% | +6.9% | +3.0% | +1.3% | −0.7% | +0.8% | +3.7% | −0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 23.1% | 21.9% | 20.4% | 26.4% | 22.0% | 14.0% | 11.8% | 21.4% | 23.1% | 5.7% |
| Return on invested capital (ROIC) | 25.4% | 28.2% | 23.1% | 35.7% | 42.9% | 29.4% | 24.6% | 56.8% | 55.4% | 11.6% |
| Return on assets (ROA) | 13.8% | 14.6% | 12.9% | 15.7% | 12.7% | 9.1% | 9.6% | 17.6% | 18.5% | 4.5% |
| Return on tangible assets | 11.7% | 14.0% | 13.0% | 15.7% | 11.9% | 7.6% | 9.4% | 17.9% | 18.6% | 5.3% |
| Free cash flow margin | 24.7% | 32.4% | 20.5% | 17.2% | 30.6% | 20.0% | 8.6% | 12.9% | 25.0% | −4.4% |
| Income quality (OCF / net income) | 0.95 | 1.28 | 0.91 | 0.85 | 1.42 | 1.26 | 1.16 | 0.66 | 1.33 | −0.43 |
| Financial health | ||||||||||
| Total debt | $858.4M | $236.1M | $244.1M | $246.1M | $220.9M | $214.4M | $33.3M | — | — | — |
| Cash & short-term investments | $1.05B | $586.6M | $443.7M | $373.5M | $410.2M | $423.9M | $189.1M | $175.8M | $149.1M | $91.0M |
| Net debt | −$190.1M | −$350.5M | −$199.5M | −$127.4M | −$189.2M | −$209.5M | −$155.8M | −$175.8M | −$149.1M | −$91.0M |
| Debt / equity | 0.65 | 0.25 | 0.33 | 0.42 | 0.47 | 0.58 | 0.11 | — | — | — |
| Debt / assets | 0.36 | 0.17 | 0.22 | 0.25 | 0.27 | 0.33 | 0.08 | — | — | — |
| Net debt / EBITDA | −0.68 | −1.49 | −1.16 | −0.73 | −1.55 | −3.19 | −3.28 | −2.58 | −2.33 | −5.43 |
| Current ratio | 6.28 | 2.32 | 2.20 | 4.57 | 1.97 | 9.17 | 6.37 | 5.87 | 4.46 | 4.30 |
| Quick ratio | 5.47 | 1.92 | 1.77 | 3.70 | 1.69 | 8.16 | 5.36 | 5.00 | 3.79 | 3.55 |
| Interest coverage | 109.4 | 116.2 | 87.6 | 102.1 | 25.7 | 57.9 | 367.8 | 694.7 | 516.2 | 8.4 |
| Working capital | $1.19B | $513.7M | $387.4M | $478.9M | $278.6M | $497.8M | $258.1M | $234.0M | $180.1M | $128.9M |
| Invested capital | $1.13B | $577.3M | $551.2M | $459.5M | $284.5M | $162.1M | $158.8M | $104.9M | $77.6M | $83.8M |
| Tangible asset value | $1.18B | $848.0M | $661.5M | $494.4M | $451.0M | $346.4M | $286.9M | $250.4M | $193.8M | $139.2M |
| Net current asset value | $368.5M | $439.3M | $327.2M | $215.8M | $235.1M | $274.5M | $220.3M | $229.4M | $175.7M | $124.0M |
| Graham number | $84.54 | $60.94 | $47.29 | $42.70 | $33.41 | $21.86 | $17.46 | $20.37 | $17.07 | $7.08 |
| Graham net-net per share | $6.46 | $9.56 | $6.66 | $3.69 | $5.68 | $7.53 | $5.81 | $6.40 | $4.93 | $3.41 |
| Capital allocation | ||||||||||
| Share buybacks (net) | $35.0M | $30.0M | $112,000 | $21.4M | $4.3M | $12.5M | $7.2M | $4.8M | $0 | $937,000 |
| Dividends + buybacks / free cash flow | 16.1% | 13.8% | 0.1% | 21.8% | 3.4% | 23.3% | 36.9% | 14.8% | 0.0% | — |
| Capex / revenue | 3.1% | 2.6% | 3.3% | 3.7% | 1.2% | 2.4% | 9.5% | 1.5% | 2.8% | 1.9% |
| Capex / operating cash flow | 11.3% | 7.3% | 13.9% | 17.8% | 3.6% | 10.7% | 52.3% | 10.2% | 10.2% | — |
| Capex / depreciation | 1.24 | 0.99 | 1.06 | 1.45 | 0.54 | 0.77 | 2.65 | 0.48 | 1.02 | 0.48 |
| Stock-based compensation / revenue | 3.0% | 3.7% | 3.5% | 2.9% | 2.5% | 2.6% | 2.3% | 1.7% | 1.3% | 1.7% |
| R&D / revenue | 16.3% | 16.4% | 17.0% | 15.8% | 15.8% | 19.7% | 19.8% | 18.1% | 17.5% | 21.4% |
| SG&A / revenue | 12.3% | 13.3% | 14.1% | 13.3% | 13.6% | 15.5% | 17.0% | 14.6% | 14.3% | 16.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 60.5 | 68.4 | 78.5 | 57.3 | 57.8 | 77.8 | 85.3 | 68.7 | 68.7 | 68.7 |
| Days of inventory on hand | 166.4 | 188.6 | 206.9 | 143.5 | 143.3 | 172.5 | 159.6 | 132.2 | 129.0 | 117.3 |
| Days payables outstanding | 52.1 | 60.6 | 63.2 | 58.0 | 61.6 | 70.2 | 70.3 | 59.9 | 64.8 | 63.6 |
| Cash conversion cycle (days) | 174.8 | 196.4 | 222.1 | 142.8 | 139.6 | 180.2 | 174.6 | 140.9 | 132.9 | 122.3 |
| Receivables turnover | 6.03 | 5.34 | 4.65 | 6.37 | 6.32 | 4.69 | 4.28 | 5.32 | 5.31 | 5.32 |
| Payables turnover | 7.00 | 6.02 | 5.77 | 6.29 | 5.93 | 5.20 | 5.19 | 6.09 | 5.63 | 5.74 |
| Inventory turnover | 2.19 | 1.94 | 1.76 | 2.54 | 2.55 | 2.12 | 2.29 | 2.76 | 2.83 | 3.11 |
| Asset turnover | 0.47 | 0.53 | 0.49 | 0.64 | 0.57 | 0.51 | 0.61 | 0.81 | 0.88 | 0.77 |
| Average receivables | $146.0M | $126.0M | $111.3M | $89.6M | $65.9M | $57.5M | $52.6M | $47.2M | $41.8M | $30.8M |
| Average payables | $53.3M | $47.4M | $38.9M | $39.5M | $30.2M | $22.4M | $19.9M | $17.4M | $16.1M | $15.4M |
| Average inventory | $170.1M | $147.4M | $127.4M | $97.6M | $70.2M | $55.0M | $45.1M | $38.4M | $32.1M | $28.5M |
| Intangibles / total assets | 5.8% | 5.7% | 7.9% | 9.4% | 2.8% | 3.8% | 6.9% | 9.1% | 11.6% | 16.2% |
Computed from NVMI's annual financial statements (latest annual report filed February 17, 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.
NVMI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Nova traded at 41.6 times earnings, against a 10-year median of 33.4. Based on the latest twelve months, the trailing P/E is 40.1 and the forward P/E is 25.8. Nova earned a return on equity of 23.1% and a return on invested capital of 25.4% in fiscal 2025. It ended the year with $858.4 million of debt and $1.0 billion in cash and short-term investments, a net cash position of $190.1 million. It returned $35.0 million to shareholders: $0 in dividends and $35.0 million in share buybacks, 16% of free cash flow. The share count rose 19.3% from 27.5M to 32.8M over 9 years.
See the NVMI income statement, the NVMI chart for price history, or the NVMI stock overview for the latest quote and news.
NVMI key metrics FAQ
What is Nova's P/E ratio?
Nova's trailing P/E ratio is 40.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 25.8. At the end of fiscal 2025 it was 41.6, compared with a 10-year median of 33.4.
What is Nova's EV/EBITDA?
Nova's enterprise value was 38.0 times EBITDA at the end of fiscal 2025 (enterprise value $10.6 billion, EBITDA $278.1 million); the current EV/EBITDA is 38.7.
What is Nova's return on equity?
Nova's return on equity (ROE) was 23.1% in fiscal 2025: net income of $259.2 million on average shareholders' equity of $1.1 billion.
What is Nova's ROIC?
Nova's return on invested capital was 25.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Nova have?
Nova had total debt of $858.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.65 and more cash than debt.
Does Nova buy back its shares?
Yes. Nova spent $35.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.1% over the year, to 32.8M..
What is Nova's free cash flow yield?
Nova generated $217.9 million of free cash flow in fiscal 2025, a free cash flow yield of 2.0% on its market value at year-end ($10.8 billion).
What is Nova's current ratio?
Nova's current ratio was 6.28 at the end of fiscal 2025: current assets were 6.28 times current liabilities.