A Business at a Glance
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Novanta Inc. and its subsidiaries (collectively referred to as the “Company”, “Novanta”, “we”, “us”, “our”) is a leading global supplier of core technology solutions that give medical, life science, and advanced industrial original equipment manufacturers (“OEMs”) a competitive advantage. We combine deep proprietary technology expertise and competencies in precision medicine, precision manufacturing, robotics and automation, and advanced surgery with a proven ability to solve complex technical challenges. This enables us to engineer proprietary technology solutions that deliver extreme precision and performance, tailored to our customers' demanding applications. The Company was founded and initially incorporated in Massachusetts in 1968 as General Scanning, Inc. (“General Scanning”). In 1999, General Scanning merged with Lumonics Inc. The post-merger entity, GSI Lumonics Inc., continued under the laws of the Province of New Brunswick, Canada.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 981M | 981M | 949M | 882M | 861M | 707M |
| Net Income | 54M | 54M | 64M | 73M | 74M | 50M |
| EPS | $1.47 | $1.47 | $1.77 | $2.02 | $2.06 | $1.41 |
| Free Cash Flow | 48M | 48M | 141M | 100M | 71M | 75M |
| ROIC | 5.9% | 6.4% | 8.9% | 10.2% | 9.7% | 8.0% |
| Gross Margin | 44.4% | 44.4% | 44.4% | 45.4% | 44.0% | 42.5% |
| Debt/Equity | 0.23 | 0.23 | 0.63 | 0.59 | 0.84 | 0.94 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 94M | 94M | 111M | 110M | 103M | 64M |
| Operating Margin | 9.6% | 9.6% | 11.6% | 12.5% | 12.0% | 9.1% |
| ROE | 4.1% | 5.2% | 9.0% | 11.7% | 13.5% | 10.1% |
| Shares Outstanding | 37M | 37M | 36M | 36M | 36M | 36M |
NOVANTA INC passes 2 of 9 quality checks, indicating weak fundamentals.
NOVANTA INC trades at 87.5x trailing earnings, compared to its 15-year median P/E of 78.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 94.8x vs a median of 54.9x. The company's 5-year average ROIC is 8.6% with a gross margin of 44.1%. Total shareholder yield (buybacks) is 0.8%. At current prices, the estimated annualized return to fair value is +5.3%.
NOVANTA INC (NOVT) has a current P/E ratio of 87.5, compared to its historical median P/E of 78.1. The stock is currently considered Fair based on its historical valuation range.
NOVANTA INC (NOVT) has a 5-year average return on invested capital (ROIC) of 8.6%. This is below average and may indicate limited pricing power.
NOVANTA INC (NOVT) has a market capitalization of $4.7B. It is classified as a mid-cap stock.
NOVANTA INC (NOVT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.83%.
Based on historical P/E analysis, NOVANTA INC (NOVT) appears fair. The current P/E of 87.5 is 12% above its historical median of 78.1. The estimated fair value CAGR (P/E method) is 7.0%.
NOVANTA INC (NOVT) operates in the Miscellaneous Electrical Machinery, Equipment & Supplies industry, within the Technology sector.
NOVANTA INC (NOVT) reported annual revenue of $981 million in its most recent fiscal year, based on SEC EDGAR filings.
NOVANTA INC (NOVT) has a net profit margin of 5.5%. This is a modest margin.
NOVANTA INC (NOVT) generated $48 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NOVANTA INC (NOVT) has a debt-to-equity ratio of 0.23. This indicates a conservatively financed balance sheet.
NOVANTA INC (NOVT) reported earnings per share (EPS) of $1.47 in its most recent fiscal year.
NOVANTA INC (NOVT) has a return on equity (ROE) of 5.2%. This indicates moderate shareholder returns.
NOVANTA INC (NOVT) has a 5-year average gross margin of 44.1%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for NOVANTA INC (NOVT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NOVANTA INC (NOVT) has a book value per share of $35.89, based on its most recent annual SEC filing.