NASDAQ : NOVT
Novanta Inc. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 151.18 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.72B
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Financial statements
Novanta Inc. (NOVT) reported revenue of 1.03B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.03B | 980.60M | 949.25M | 881.66M | 860.90M | 706.79M |
| Cost of Revenue | 571.02M | 545.32M | 524.92M | 481.76M | 482.27M | 405.05M |
| Gross Profit | 458.68M | 435.28M | 424.32M | 399.90M | 378.63M | 301.74M |
| Selling, General & Admin | 217.90M | 196.22M | 176.52M | 165.22M | 158.70M | 129.55M |
| Research & Development | 94.18M | 95.48M | 95.52M | 91.68M | 85.77M | 72.52M |
| Amortization of Goodwill & Intangibles | 27.24M | 27.48M | 25.79M | 20.45M | 26.34M | 16.58M |
| Operating Expenses | 339.32M | 319.18M | 297.82M | 277.35M | 270.80M | 218.65M |
| Operating Income | 119.36M | 116.10M | 126.50M | 122.55M | 107.83M | 83.09M |
| Interest Expense | -12.96M | -21.47M | -31.49M | -25.82M | -15.62M | -7.39M |
| Currency Exchange Gain (Loss) | 852.00K | -2.19M | 413.00K | -255.00K | 67.00K | -127.00K |
| Other Non Operating Income (Expenses) | 80.00K | -145.00K | 131.00K | 90.00K | -576.00K | 25.00K |
| EBT Excluding Unusual Items | 107.33M | 92.29M | 95.55M | 96.56M | 91.70M | 75.60M |
| Merger & Restructuring Charges | -27.64M | -22.65M | -16.49M | -12.81M | -4.54M | -19.43M |
| Pretax Income | 79.69M | 69.64M | 79.07M | 83.75M | 87.16M | 56.17M |
| Income Tax Expense | 17.92M | 15.81M | 14.98M | 10.87M | 13.11M | 5.84M |
| Earnings From Continuing Operations | 61.76M | 53.83M | 64.09M | 72.88M | 74.05M | 50.33M |
| Net Income to Company | 61.76M | 53.83M | 64.09M | 72.88M | 74.05M | 50.33M |
| Net Income | 61.76M | 53.83M | 64.09M | 72.88M | 74.05M | 50.33M |
| Net Income to Common | 61.76M | 53.83M | 64.09M | 72.88M | 74.05M | 50.33M |
| Shares Outstanding (Basic) | 38.93M | 36.59M | 35.95M | 35.84M | 35.65M | 35.40M |
| Shares Outstanding (Diluted) | 39.09M | 36.70M | 36.12M | 36.03M | 35.91M | 35.78M |
| EPS (Basic) | 1.59 | 1.47 | 1.78 | 2.03 | 2.08 | 1.42 |
| EPS (Diluted) | 1.58 | 1.47 | 1.77 | 2.02 | 2.06 | 1.41 |
| Free Cash Flow | 114.28M | 48.43M | 141.35M | 100.11M | 71.14M | 74.65M |
| Free Cash Flow Per Share | 2.92 | 1.32 | 3.91 | 2.78 | 1.98 | 2.09 |
| Gross Margin | 44.55% | 44.39% | 44.70% | 45.36% | 43.98% | 42.69% |
| Operating Margin | 11.59% | 11.84% | 13.33% | 13.90% | 12.53% | 11.76% |
| Profit Margin | 6.00% | 5.49% | 6.75% | 8.27% | 8.60% | 7.12% |
| Free Cash Flow Margin | 11.10% | 4.94% | 14.89% | 11.36% | 8.26% | 10.56% |
| EBITDA | 180.95M | 178.03M | 182.06M | 169.16M | 160.99M | 126.49M |
| EBITDA Margin | 17.57% | 18.16% | 19.18% | 19.19% | 18.70% | 17.90% |
| D&A For EBITDA | 61.60M | 61.93M | 55.56M | 46.61M | 53.16M | 43.39M |
| EBIT | 119.36M | 116.10M | 126.50M | 122.55M | 107.83M | 83.09M |
| EBIT Margin | 11.59% | 11.84% | 13.33% | 13.90% | 12.53% | 11.76% |
| Effective Tax Rate | 22.49% | 22.71% | 18.95% | 12.98% | 15.04% | 10.40% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 718.65M | 380.87M | 113.99M | 105.05M | 100.11M | 117.39M |
| Cash & Short-Term Investments | 718.65M | 380.87M | 113.99M | 105.05M | 100.11M | 117.39M |
| Receivables | 178.75M | 184.88M | 151.03M | 139.41M | 137.70M | 115.62M |
| Inventory | 192.71M | 188.28M | 144.61M | 149.37M | 168.00M | 125.66M |
| Prepaid Expenses | 20.26M | 19.07M | 14.72M | 12.98M | 12.82M | 13.02M |
| Other Current Assets | 13.17M | 9.49M | 9.30M | 8.48M | 1.90M | 2.13M |
| Total Current Assets | 1.12B | 782.60M | 433.65M | 415.30M | 420.52M | 373.82M |
| Property, Plant & Equipment | 166.53M | 160.19M | 156.04M | 147.75M | 146.50M | 135.78M |
| Goodwill | 642.37M | 647.35M | 584.10M | 484.51M | 478.90M | 479.50M |
| Other Intangible Assets | 159.83M | 180.78M | 185.84M | 145.02M | 175.77M | 220.99M |
| Long-Term Deferred Tax Assets | 31.72M | 27.38M | 22.89M | 27.86M | 15.11M | 12.21M |
| Other Long-Term Assets | 15.58M | 8.81M | 5.99M | 5.62M | 4.41M | 5.59M |
| Total Assets | 2.14B | 1.81B | 1.39B | 1.23B | 1.24B | 1.23B |
| Accounts Payable | 97.48M | 94.86M | 76.89M | 57.20M | 75.22M | 68.51M |
| Accrued Expenses | 27.19M | 16.41M | 28.36M | 32.70M | 35.50M | 24.73M |
| Current Portion of Long-Term Debt | 41.50M | 38.29M | 4.69M | 4.97M | 4.80M | 5.10M |
| Current Portion of Leases | 10.75M | 10.69M | 10.64M | 8.91M | 8.46M | 7.93M |
| Current Income Taxes Payable | 11.82M | 5.86M | 16.00M | 7.77M | 13.66M | 4.51M |
| Current Unearned Revenue | 29.52M | 10.95M | 5.71M | 5.55M | 8.13M | 7.00M |
| Other Current Liabilities | 27.62M | 35.32M | 25.50M | 22.08M | 18.75M | 66.16M |
| Total Current Liabilities | 245.88M | 212.37M | 167.79M | 139.18M | 164.52M | 183.94M |
| Long-Term Debt | 188.16M | 212.54M | 411.95M | 349.40M | 430.66M | 429.36M |
| Long-Term Leases | 45.19M | 41.22M | 43.72M | 41.28M | 45.46M | 51.01M |
| Long-Term Unearned Revenue | 18.45M | 305.00K | ||||
| Long-Term Deferred Tax Liabilities | 16.61M | 18.09M | 13.09M | 16.30M | 17.19M | 33.74M |
| Other Long-Term Liabilities | 8.82M | 8.60M | 6.26M | 6.43M | 5.79M | 8.24M |
| Total Liabilities | 523.11M | 492.82M | 642.81M | 552.60M | 663.63M | 706.59M |
| Common Stock | 423.86M | 423.86M | 423.86M | 423.86M | 423.86M | 423.86M |
| Additional Paid-In Capital | 848.43M | 572.06M | 84.21M | 70.18M | 55.16M | 53.77M |
| Retained Earnings | 355.02M | 321.38M | 267.55M | 203.46M | 130.58M | 56.53M |
| Comprehensive Income & Other | -10.85M | -3.00M | -29.92M | -24.04M | -32.01M | -12.87M |
| Total Common Equity | 1.62B | 1.31B | 745.70M | 673.46M | 577.59M | 521.29M |
| Shareholders' Equity | 1.62B | 1.31B | 745.70M | 673.46M | 577.59M | 521.29M |
| Total Liabilities & Equity | 2.14B | 1.81B | 1.39B | 1.23B | 1.24B | 1.23B |
| Total Debt | 285.60M | 302.74M | 471.00M | 404.56M | 489.38M | 493.40M |
| Net Cash (Debt) | 433.05M | 78.14M | -357.01M | -299.51M | -389.28M | -376.01M |
| Net Cash Per Share | 11.08 | 2.13 | -9.88 | -8.31 | -10.84 | -10.51 |
| Filing Date Shares Outstanding | 37.82M | 35.68M | 35.96M | 35.85M | 35.74M | 35.63M |
| Total Common Shares Outstanding | 37.82M | 35.67M | 35.94M | 35.81M | 35.71M | 35.60M |
| Working Capital | 877.65M | 570.23M | 265.86M | 276.12M | 256.00M | 189.89M |
| Book Value Per Share | 42.75 | 36.84 | 20.75 | 18.80 | 16.17 | 14.64 |
| Tangible Book Value | 814.26M | 486.16M | -24.24M | 43.93M | -77.08M | -179.20M |
| Tangible Book Value Per Share | 21.53 | 13.63 | -0.67 | 1.23 | -2.16 | -5.03 |
| Land | 103.86M | 99.22M | 95.02M | 86.03M | 78.91M | |
| Machinery | 147.19M | 125.69M | 117.49M | 110.21M | 98.69M | |
| Order Backlog | 481.20M | 445.50M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 61.76M | 53.83M | 64.09M | 72.88M | 74.05M | 50.33M |
| Depreciation & Amortization | 61.60M | 61.93M | 55.56M | 46.61M | 53.16M | 43.39M |
| Other Amortization | 426.00K | 624.00K | ||||
| Loss (Gain) From Sale of Assets | -206.00K | -4.11M | -64.00K | 148.00K | -61.00K | 65.00K |
| Asset Writedown & Restructuring Costs | 1.85M | |||||
| Stock-Based Compensation | 34.57M | 29.54M | 23.31M | 25.59M | 23.11M | 25.61M |
| Other Operating Activities | -1.11M | -2.43M | -3.30M | -5.68M | -15.36M | 2.24M |
| Change in Accounts Receivable | -20.77M | -27.27M | -6.19M | -127.00K | -23.25M | -25.36M |
| Change in Inventory | -29.28M | -36.10M | 4.78M | 11.37M | -48.55M | -19.08M |
| Change in Accounts Payable | 42.45M | 3.71M | 13.06M | -20.45M | 30.33M | 24.52M |
| Change in Income Taxes | -19.94M | -12.38M | 9.01M | -12.35M | 489.00K | -140.00K |
| Change in Other Net Operating Assets | 4.78M | -3.09M | -1.75M | 235.00K | -3.77M | -6.95M |
| Operating Cash Flow | 133.84M | 64.06M | 158.51M | 120.08M | 90.78M | 94.62M |
| Capital Expenditures | -19.56M | -15.63M | -17.16M | -19.96M | -19.64M | -19.98M |
| Sale of Property, Plant & Equipment | 404.00K | 5.60M | 173.00K | 69.00K | 137.00K | 200.00K |
| Cash Acquisitions | -1.12M | -64.29M | -191.20M | -21.57M | -284.73M | |
| Sale (Purchase) of Intangibles | -1.47M | -2.20M | ||||
| Investing Cash Flow | -20.27M | -74.32M | -208.19M | -19.89M | -42.54M | -306.70M |
| Long-Term Debt Issued | 82.81M | 198.00M | 69.94M | 280.00M | ||
| Long-Term Debt Repaid | -365.73M | -131.07M | -86.55M | -59.03M | -41.12M | |
| Net Debt Issued (Repaid) | -333.46M | -282.92M | 66.93M | -86.55M | 10.91M | 238.88M |
| Issuance of Common Stock | 902.84M | 614.39M | ||||
| Repurchase of Common Stock | -64.78M | -47.09M | -9.71M | -10.56M | -21.72M | -30.83M |
| Other Financing Activities | -9.89M | -8.05M | -278.00K | -738.00K | -49.34M | -3.29M |
| Financing Cash Flow | 494.70M | 276.33M | 56.94M | -97.85M | -60.15M | 204.75M |
| Foreign Exchange Rate Adjustments | 467.00K | 818.00K | 1.67M | 2.62M | -5.37M | -335.00K |
| Net Cash Flow | 608.74M | 266.88M | 8.94M | 4.95M | -17.29M | -7.66M |
| Free Cash Flow | 114.28M | 48.43M | 141.35M | 100.11M | 71.14M | 74.65M |
| Free Cash Flow Margin | 11.10% | 4.94% | 14.89% | 11.36% | 8.26% | 10.56% |
| Free Cash Flow Per Share | 2.92 | 1.32 | 3.91 | 2.78 | 1.98 | 2.09 |
| Levered Free Cash Flow | 118.38M | 64.27M | 138.84M | 96.90M | 29.78M | 94.92M |
| Unlevered Free Cash Flow | 126.48M | 77.26M | 158.52M | 113.04M | 38.92M | 99.54M |
| Cash Interest Paid | 17.86M | 22.57M | 32.67M | 25.30M | 14.26M | 6.21M |
| Cash Income Tax Paid | 31.66M | 36.73M | 19.60M | 36.29M | 20.12M | 9.75M |
| Change in Working Capital | -22.77M | -75.13M | 18.92M | -21.33M | -44.74M | -27.01M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.51B | 4.26B | 5.49B | 6.03B | 4.85B | 6.28B |
| Enterprise Value | 5.08B | 4.67B | 5.91B | 6.36B | 5.26B | 6.68B |
| Last Close Price | 145.76 | 118.99 | 152.77 | 168.41 | 135.87 | 176.33 |
| PE Ratio | 92.14 | 79.08 | 85.63 | 82.75 | 65.48 | 124.72 |
| Forward PE | 36.53 | 32.87 | 44.41 | 58.24 | 42.36 | 60.23 |
| PS Ratio | 5.35 | 4.34 | 5.78 | 6.84 | 5.63 | 8.88 |
| PB Ratio | 3.41 | 3.24 | 7.36 | 8.96 | 8.40 | 12.04 |
| P/TBV Ratio | 6.77 | 8.76 | 137.28 | |||
| P/FCF Ratio | 48.24 | 87.90 | 38.82 | 60.24 | 68.17 | 84.09 |
| P/OCF Ratio | 41.19 | 66.46 | 34.62 | 50.23 | 53.42 | 66.34 |
| PEG Ratio | 2.92 | 2.63 | 3.55 | 4.66 | 2.72 | 4.56 |
| EV/Sales Ratio | 4.93 | 4.76 | 6.22 | 7.21 | 6.11 | 9.45 |
| EV/EBITDA Ratio | 28.07 | 26.25 | 32.46 | 37.59 | 32.68 | 52.78 |
| EV/EBIT Ratio | 42.56 | 40.25 | 46.72 | 51.89 | 48.80 | 80.35 |
| EV/FCF Ratio | 44.45 | 96.49 | 41.81 | 63.52 | 73.96 | 89.44 |
| Debt / Equity Ratio | 0.18 | 0.23 | 0.63 | 0.60 | 0.85 | 0.95 |
| Debt / EBITDA Ratio | 1.47 | 1.59 | 2.41 | 2.24 | 2.84 | 3.63 |
| Debt / FCF Ratio | 2.50 | 6.25 | 3.33 | 4.04 | 6.88 | 6.61 |
| Net Debt / Equity Ratio | -0.27 | -0.06 | 0.48 | 0.45 | 0.67 | 0.72 |
| Net Debt / EBITDA Ratio | -2.39 | -0.44 | 1.96 | 1.77 | 2.42 | 2.97 |
| Net Debt / FCF Ratio | -3.79 | -1.61 | 2.53 | 2.99 | 5.47 | 5.04 |
| Asset Turnover | 0.56 | 0.61 | 0.73 | 0.71 | 0.70 | 0.68 |
| Inventory Turnover | 3.17 | 3.28 | 3.57 | 3.04 | 3.29 | 3.71 |
| Quick Ratio | 3.65 | 2.66 | 1.58 | 1.76 | 1.45 | 1.27 |
| Current Ratio | 4.57 | 3.69 | 2.58 | 2.98 | 2.56 | 2.03 |
| Return on Equity (ROE) | 5.11% | 5.23% | 9.03% | 11.65% | 13.48% | 10.08% |
| Return on Assets (ROA) | 4.09% | 4.54% | 6.05% | 6.21% | 5.46% | 4.96% |
| Return on Invested Capital (ROIC) | 7.72% | 7.67% | 9.88% | 11.00% | 9.83% | 9.90% |
| Return on Capital Employed (ROCE) | 6.30% | 7.30% | 10.40% | 11.30% | 10.00% | 8.00% |
| Earnings Yield | 1.09% | 1.26% | 1.17% | 1.21% | 1.53% | 0.80% |
| FCF Yield | 2.07% | 1.14% | 2.58% | 1.66% | 1.47% | 1.19% |
| Buyback Yield / Dilution | -8.22% | -1.60% | -0.26% | -0.34% | -0.36% | -0.36% |