Novanta Inc. (NOVT) Financial Ratios
28 years of historical data (1998–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↓
27.52
↓-30% vs avg
5yr avg: 39.21
30Y Low0.9·High82.4
P/FCF
↑
102.31
↑+48% vs avg
5yr avg: 69.10
30Y Low2.2·High90.2
P/B Ratio
↓
3.88
↓-52% vs avg
5yr avg: 8.06
30Y Low0.2·High12.1
ROE
↓
5.2%
↑-47% vs avg
5yr avg: 9.9%
30Y Low-77%·High20%
Debt/EBITDA
↓
1.91
↓-36% vs avg
5yr avg: 3.01
30Y Low0.9·High17.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NOVT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Novanta Inc. trades at 94.5x earnings, 7% above its 5-year average of 88.3x, sitting at the 89th percentile of its historical range. Compared to the Technology sector median P/E of 27.5x, the stock trades at a premium of 244%. On a free-cash-flow basis, the stock trades at 102.3x P/FCF, 48% above the 5-year average of 69.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $4.4B | $5.5B | $6.1B | $4.9B | $6.3B | $4.2B | $3.1B | $2.2B | $1.8B | $733M |
| Enterprise Value | $4.9B | $4.3B | $5.9B | $6.4B | $5.3B | $6.7B | $4.3B | $3.3B | $2.4B | $1.9B | $751M |
| P/E Ratio → | 94.49 | 80.95 | 86.31 | 83.37 | 65.96 | 125.06 | 94.58 | 76.90 | 44.06 | 44.25 | 33.33 |
| P/S Ratio | 5.05 | 4.45 | 5.81 | 6.88 | 5.67 | 8.93 | 7.14 | 5.02 | 3.64 | 3.38 | 1.91 |
| P/B Ratio | 3.88 | 3.32 | 7.40 | 9.01 | 8.45 | 12.10 | 8.84 | 7.54 | 6.07 | 4.92 | 2.83 |
| P/FCF | 102.31 | 90.18 | 39.04 | 60.61 | 68.59 | 87.09 | 32.49 | 59.87 | 29.80 | 32.50 | 18.64 |
| P/OCF | 77.35 | 68.18 | 34.82 | 50.53 | 53.75 | 66.68 | 30.06 | 49.70 | 24.93 | 27.83 | 15.34 |
P/E links to full P/E history page with 30-year chart
NOVT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Novanta Inc.'s enterprise value stands at 27.5x EBITDA, 30% below its 5-year average of 39.2x. The Technology sector median is 17.4x, placing the stock at a 58% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.41 | 6.19 | 7.22 | 6.12 | 9.46 | 7.36 | 5.34 | 3.84 | 3.64 | 1.95 |
| EV / EBITDA | 27.52 | 24.23 | 35.36 | 40.53 | 33.72 | 62.22 | 46.13 | 35.70 | 21.84 | 21.50 | 14.09 |
| EV / EBIT | 42.13 | 47.50 | 47.27 | 51.64 | 49.02 | 81.45 | 72.78 | 46.49 | 29.85 | 29.16 | 18.36 |
| EV / FCF | — | 89.37 | 41.57 | 63.60 | 74.06 | 92.28 | 33.50 | 63.62 | 31.47 | 34.97 | 19.10 |
NOVT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Novanta Inc. earns an operating margin of 11.9%. ROE of 5.2% is modest. ROIC of 7.4% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.4% | 44.4% | 44.4% | 45.4% | 44.0% | 42.5% | 41.4% | 41.9% | 42.6% | 42.3% | 42.2% |
| Operating Margin | 11.9% | 11.9% | 11.6% | 12.5% | 12.0% | 9.1% | 9.5% | 8.8% | 11.6% | 11.0% | 8.6% |
| Net Profit Margin | 5.5% | 5.5% | 6.8% | 8.3% | 8.6% | 7.1% | 7.5% | 6.5% | 8.0% | 11.5% | 5.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.2% | 5.2% | 9.0% | 11.7% | 13.5% | 10.1% | 10.0% | 10.4% | 13.5% | 19.5% | 8.7% |
| ROA | 3.4% | 3.4% | 4.9% | 5.9% | 6.0% | 4.8% | 5.1% | 5.1% | 6.8% | 10.4% | 5.2% |
| ROIC | 7.4% | 7.4% | 8.0% | 8.5% | 8.3% | 6.4% | 6.9% | 7.5% | 10.8% | 11.2% | 8.7% |
| ROCE | 8.3% | 8.3% | 9.6% | 10.2% | 9.7% | 7.1% | 7.5% | 8.2% | 11.4% | 11.7% | 9.2% |
NOVT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Novanta Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (33% below the sector average of 2.9x). The company holds a net cash position — cash of $381M exceeds total debt of $342M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 5.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.63 | 0.60 | 0.85 | 0.95 | 0.53 | 0.66 | 0.56 | 0.65 | 0.33 |
| Debt / EBITDA | 1.91 | 1.91 | 2.83 | 2.58 | 3.13 | 4.59 | 2.71 | 2.95 | 1.92 | 2.66 | 1.61 |
| Net Debt / Equity | — | -0.03 | 0.48 | 0.44 | 0.67 | 0.72 | 0.27 | 0.47 | 0.34 | 0.38 | 0.07 |
| Net Debt / EBITDA | -0.22 | -0.22 | 2.15 | 1.91 | 2.49 | 3.50 | 1.38 | 2.10 | 1.16 | 1.52 | 0.34 |
| Debt / FCF | — | -0.81 | 2.53 | 2.99 | 5.47 | 5.19 | 1.00 | 3.75 | 1.67 | 2.48 | 0.46 |
| Interest Coverage | 5.43 | 5.43 | 3.51 | 4.28 | 6.60 | 8.67 | 8.51 | 6.51 | 7.24 | 8.03 | 7.23 |
Net cash position: cash ($381M) exceeds total debt ($342M)
NOVT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Novanta Inc.'s current ratio of 3.69x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.80x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.98x to 3.69x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.69 | 3.69 | 2.58 | 2.98 | 2.56 | 2.03 | 2.66 | 2.26 | 2.70 | 2.93 | 2.83 |
| Quick Ratio | 2.80 | 2.80 | 1.72 | 1.91 | 1.53 | 1.35 | 1.85 | 1.39 | 1.70 | 2.00 | 1.98 |
| Cash Ratio | 1.79 | 1.79 | 0.68 | 0.75 | 0.61 | 0.64 | 1.09 | 0.59 | 0.79 | 1.02 | 0.97 |
| Asset Turnover | — | 0.54 | 0.68 | 0.72 | 0.69 | 0.58 | 0.68 | 0.72 | 0.85 | 0.72 | 0.90 |
| Inventory Turnover | 2.90 | 2.90 | 3.65 | 3.23 | 2.87 | 3.23 | 3.73 | 3.12 | 3.37 | 3.29 | 3.72 |
| Days Sales Outstanding | — | 68.82 | 58.07 | 57.71 | 58.38 | 59.71 | 46.38 | 53.10 | 49.88 | 57.05 | 60.49 |
NOVT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Novanta Inc. returns 0.8% to shareholders annually primarily through share buybacks. The earnings yield of 1.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.2% | 1.2% | 1.2% | 1.5% | 0.8% | 1.1% | 1.3% | 2.3% | 2.3% | 3.0% |
| FCF Yield | 1.0% | 1.1% | 2.6% | 1.6% | 1.5% | 1.1% | 3.1% | 1.7% | 3.4% | 3.1% | 5.4% |
| Buyback Yield | 0.8% | 0.9% | 0.0% | 0.0% | 0.2% | 0.0% | 0.1% | 0.3% | 0.3% | 0.0% | 0.2% |
| Total Shareholder Yield | 0.8% | 0.9% | 0.0% | 0.0% | 0.2% | 0.0% | 0.1% | 0.3% | 0.3% | 0.0% | 0.2% |
| Shares Outstanding | — | $37M | $36M | $36M | $36M | $36M | $36M | $36M | $35M | $35M | $35M |
Peer Comparison
Compare NOVT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NOVTYou | $5B | 94.5 | 27.5 | 102.3 | 44.4% | 11.9% | 5.2% | 7.4% | 1.9 |
 MKSI | $20B | 67.2 | 26.2 | 39.8 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 CGNX | $10B | 91.6 | 52.8 | 43.9 | 66.9% | 16.3% | 7.6% | 9.0% | 0.4 |
 COHR | $55B | -662.8 | 52.3 | 283.5 | 35.4% | 9.4% | 0.6% | 3.6% | 3.5 |
 KLIC | $5B | 9999.0 | 320.7 | 50.9 | 42.5% | -0.5% | 0.0% | -0.3% | 2.6 |
 IPGP | $4B | 139.6 | 49.1 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 AEIS | $14B | 94.0 | 52.9 | 109.0 | 37.2% | 10.9% | 11.6% | 12.2% | 2.6 |
 LSCC | $17B | 5613.9 | 296.9 | 129.4 | 68.2% | 2.9% | 0.4% | 1.8% | 1.4 |
 VIAV | $12B | 353.3 | 93.8 | 197.8 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 ISRG | $160B | 57.4 | 43.4 | 64.4 | 66.0% | 29.3% | 16.6% | 15.0% | 0.1 |
 SYK | $112B | 34.8 | 20.2 | 26.1 | 64.0% | 19.5% | 15.1% | 11.4% | 2.4 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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Start ComparisonNOVT — Frequently Asked Questions
Quick answers to the most common questions about buying NOVT stock.
What is Novanta Inc.'s P/E ratio?
Novanta Inc.'s current P/E ratio is 94.5x. The historical average is 47.0x. This places it at the 89th percentile of its historical range.
What is Novanta Inc.'s EV/EBITDA?
Novanta Inc.'s current EV/EBITDA is 27.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.8x.
What is Novanta Inc.'s ROE?
Novanta Inc.'s return on equity (ROE) is 5.2%. The historical average is 0.3%.
Is NOVT stock overvalued?
Based on historical data, Novanta Inc. is trading at a P/E of 94.5x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Novanta Inc.'s profit margins?
Novanta Inc. has 44.4% gross margin and 11.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Novanta Inc. have?
Novanta Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.