NovoCure Limited (NVCR) Financial Ratios
13 years of historical data (2013–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
↑
N/A
—
5yr avg: 473.32
30Y Low132.6·High132.6
P/B Ratio
↓
4.68
↓-57% vs avg
5yr avg: 10.77
30Y Low4.2·High39.5
ROE
↓
-38.9%
-13% vs avg
5yr avg: -34.4%
30Y Low-67%·High6%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low11.4·High22.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NVCR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NovoCure Limited currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6B | $1.4B | $3.2B | $1.6B | $7.7B | $7.8B | $18.8B | $8.2B | $3.1B | $1.8B | $672M |
| Enterprise Value | $1.8B | $1.6B | $3.7B | $1.9B | $8.1B | $8.1B | $19.0B | $8.2B | $3.1B | $1.8B | $668M |
| P/E Ratio → | -11.70 | — | — | — | — | — | 961.33 | — | — | — | — |
| P/S Ratio | 2.48 | 2.20 | 5.31 | 3.12 | 14.27 | 14.51 | 38.11 | 23.32 | 12.39 | 10.10 | 8.10 |
| P/B Ratio | 4.68 | 4.23 | 8.92 | 4.38 | 17.40 | 18.92 | 39.54 | 37.62 | 27.39 | 15.75 | 4.72 |
| P/FCF | — | — | — | — | 814.09 | 132.55 | 223.81 | 507.85 | — | — | — |
| P/OCF | — | — | — | — | 249.35 | 93.84 | 190.02 | 307.82 | — | — | — |
P/E links to full P/E history page with 30-year chart
NVCR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.48 | 6.17 | 3.82 | 15.15 | 15.21 | 38.52 | 23.29 | 12.43 | 10.21 | 8.06 |
| EV / EBITDA | — | — | — | — | — | — | 481.52 | 1094.13 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | 533.70 | 1620.39 | — | — | — |
| EV / FCF | — | — | — | — | 863.82 | 138.91 | 226.24 | 507.16 | — | — | — |
NVCR Profitability
Margins and return-on-capital ratios measuring operating efficiency
NovoCure Limited earns an operating margin of -23.5%. Operating margins have expanded from -45.7% to -23.5% over the past 3 years, signaling improving operational efficiency. A negative ROE of -38.9% indicates the company is currently destroying shareholder equity.
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 | 74.5% | 74.5% | 77.3% | 74.8% | 78.6% | 78.5% | 78.5% | 74.8% | 67.7% | 68.6% | 44.2% |
| Operating Margin | -23.5% | -23.5% | -28.2% | -45.7% | -16.6% | -8.3% | 6.1% | -0.3% | -13.6% | -22.2% | -139.1% |
| Net Profit Margin | -20.8% | -20.8% | -27.9% | -40.6% | -17.2% | -10.9% | 4.0% | -2.1% | -25.6% | -34.8% | -159.1% |
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 | -38.9% | -38.9% | -46.7% | -51.5% | -21.7% | -13.2% | 5.7% | -4.4% | -56.3% | -48.2% | -67.1% |
| ROA | -13.3% | -13.3% | -14.1% | -17.7% | -7.9% | -5.3% | 2.6% | -1.8% | -21.0% | -22.5% | -44.7% |
| ROIC | -16.4% | -16.4% | -16.0% | -21.5% | -7.9% | -4.5% | 5.1% | -0.4% | -19.9% | -21.8% | -59.0% |
| ROCE | -28.9% | -28.9% | -23.5% | -23.3% | -8.8% | -4.6% | 4.6% | -0.3% | -13.7% | -17.1% | -44.0% |
NVCR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $187M ($290M total debt minus $103M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.85 | 0.85 | 1.90 | 1.64 | 1.32 | 1.42 | 0.95 | 0.77 | 1.33 | 0.86 | 0.68 |
| Debt / EBITDA | — | — | — | — | — | — | 11.39 | 22.49 | — | — | — |
| Net Debt / Equity | — | 0.55 | 1.44 | 0.98 | 1.06 | 0.91 | 0.43 | -0.05 | 0.08 | 0.17 | -0.02 |
| Net Debt / EBITDA | — | — | — | — | — | — | 5.17 | -1.50 | — | — | — |
| Debt / FCF | — | — | — | — | 49.73 | 6.35 | 2.43 | -0.70 | — | — | — |
| Interest Coverage | — | — | -10.36 | -38.41 | -9.68 | -5.50 | 1.98 | 0.34 | -1.92 | -3.15 | -16.55 |
NVCR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
NovoCure Limited's current ratio of 2.90x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 5.78x to 2.90x 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 | 2.90 | 2.90 | 1.46 | 5.78 | 7.00 | 7.53 | 8.80 | 5.10 | 4.98 | 4.88 | 7.10 |
| Quick Ratio | 2.90 | 2.90 | 1.42 | 5.56 | 6.82 | 7.36 | 8.56 | 4.82 | 4.63 | 4.44 | 6.41 |
| Cash Ratio | 2.05 | 2.05 | 1.27 | 5.08 | 6.11 | 6.58 | 7.52 | 3.80 | 3.81 | 3.65 | 5.96 |
| Asset Turnover | — | 0.81 | 0.49 | 0.44 | 0.45 | 0.47 | 0.47 | 0.73 | 0.73 | 0.67 | 0.29 |
| Inventory Turnover | — | — | 3.91 | 3.36 | 3.91 | 4.70 | 3.88 | 3.74 | 3.55 | 2.52 | 1.81 |
| Days Sales Outstanding | — | 64.24 | 61.56 | 55.26 | 58.54 | 66.45 | 74.18 | 66.45 | 53.74 | 60.96 | 27.91 |
NVCR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NovoCure Limited does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
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 | — | — | — | — | — | — | 0.1% | — | — | — | — |
| FCF Yield | — | — | — | — | 0.1% | 0.8% | 0.4% | 0.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $111M | $108M | $106M | $105M | $103M | $109M | $97M | $92M | $89M | $86M |
Peer Comparison
Compare NVCR 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 |
|---|---|---|---|---|---|---|---|---|---|
 NVCRYou | $2B | -11.7 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 NKTR | $1B | -6.3 | — | — | 100.0% | -236.8% | -217.9% | -57.2% | — |
 INVA | $2B | 6.8 | 6.8 | 8.5 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 SUPN | $3B | -65.3 | 45.1 | 55.6 | 89.6% | -5.1% | -3.7% | -2.8% | 0.7 |
 ACAD | $4B | 9.4 | 25.7 | 35.2 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 IDXX | $45B | 43.0 | 31.1 | 42.4 | 61.8% | 31.6% | 66.2% | 42.5% | 0.7 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 MASI | $9B | -64.3 | 28.0 | 47.6 | 61.9% | 20.5% | -17.1% | 16.5% | 1.6 |
 INMD | $849M | 9.4 | 6.5 | 10.1 | 78.5% | 23.0% | 13.5% | 13.5% | 0.2 |
 IRTC | $3B | -75.3 | — | 99.6 | 70.6% | -4.9% | -36.6% | -5.2% | — |
 MDT | $102B | 22.0 | 14.5 | 19.6 | 65.3% | 17.8% | 9.4% | 6.0% | 3.2 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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NVCR — Frequently Asked Questions
Quick answers to the most common questions about buying NVCR stock.
What is NovoCure Limited's P/E ratio?
NovoCure Limited's current P/E ratio is -11.7x. This places it at the 50th percentile of its historical range.
What is NovoCure Limited's ROE?
NovoCure Limited's return on equity (ROE) is -38.9%. The historical average is -39.3%.
Is NVCR stock overvalued?
Based on historical data, NovoCure Limited is trading at a P/E of -11.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are NovoCure Limited's profit margins?
NovoCure Limited has 74.5% gross margin and -23.5% operating margin.