Novanta (NOVT) Financials

$153.60 +6.05 (+4.10%)

Closing price 04:00 PM Eastern

Extended Trading

$152.44 -1.16 (-0.75%)

As of 05:20 PM Eastern

Annual Income Statements for Novanta

This table shows Novanta's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	36	22	60	49	41	45	50	74	73	64	54
Consolidated Net Income / (Loss)	36	22	62	51	41	45	50	74	73	64	54
Net Income / (Loss) Continuing Operations	36	22	62	51	41	45	50	74	73	64	54
Total Pre-Tax Income	46	33	76	61	46	48	56	87	84	79	70
Total Operating Income	29	33	58	71	55	56	64	103	110	111	94
Total Gross Profit	158	162	221	262	262	245	300	378	400	422	435
Total Revenue	374	385	521	614	626	591	707	861	882	949	981
Operating Revenue	374	385	521	614	626	591	707	861	882	949	981
Total Cost of Revenue	216	222	301	353	364	346	406	482	482	528	545
Operating Cost of Revenue	216	222	301	353	364	346	406	482	482	528	545
Total Operating Expenses	129	129	163	191	207	189	236	275	289	311	341
Selling, General & Admin Expense	82	81	102	116	118	110	129	159	164	176	196
Research & Development Expense	31	32	42	51	56	61	73	86	92	96	95
Amortization Expense	7.61	8.25	12	16	16	14	17	26	20	26	27
Restructuring Charge	8.25	7.95	7.54	8.04	17	3.81	18	4.38	13	14	23
Total Other Income / (Expense), net	17	-0.43	19	-9.71	-9.52	-7.49	-7.88	-16	-27	-32	-24
Interest & Investment Income	-	-4.56	-7.17	-9.81	-8.49	-6.56	-7.39	-16	-26	-31	-21
Other Income / (Expense), net	22	4.13	26	0.10	-1.02	-0.92	-0.50	-0.30	-0.93	-0.03	-2.90
Income Tax Expense	10	11	14	10	4.99	3.88	5.84	13	11	15	16
Basic Earnings per Share	$1.03	$0.63	$1.14	$1.46	$1.16	$1.27	$1.42	$2.08	$2.03	$1.78	$1.47
Weighted Average Basic Shares Outstanding	34.58M	34.69M	34.82M	34.91M	35.03M	35.14M	35.40M	35.65M	35.84M	35.95M	36.59M
Diluted Earnings per Share	$1.02	$0.63	$1.13	$1.43	$1.15	$1.25	$1.41	$2.06	$2.02	$1.77	$1.47
Weighted Average Diluted Shares Outstanding	34.83M	34.91M	35.28M	35.47M	35.55M	35.65M	35.78M	35.91M	36.03M	36.12M	36.70M
Weighted Average Basic & Diluted Shares Outstanding	34.60M	34.90M	52.70M	33.60M	35.09M	35.31M	35.63M	35.74M	35.85M	35.96M	35.68M

This table shows Novanta's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Income / (Loss) Attributable to Common Shareholders	21	13	15	14	19	16	21	4.50	11	17	21
Consolidated Net Income / (Loss)	21	13	15	14	19	16	21	4.50	11	17	21
Net Income / (Loss) Continuing Operations	21	13	15	14	19	16	21	4.50	11	17	21
Total Pre-Tax Income	23	16	17	17	24	21	26	5.79	16	22	26
Total Operating Income	30	22	26	26	33	27	32	15	22	25	28
Total Gross Profit	102	97	100	104	109	108	104	107	111	113	114
Total Revenue	222	212	231	236	244	238	233	241	248	258	258
Operating Revenue	222	212	231	236	244	238	233	241	248	258	258
Total Cost of Revenue	120	115	131	132	135	130	129	134	137	145	144
Operating Cost of Revenue	120	115	131	132	135	130	129	134	137	145	144
Total Operating Expenses	71	75	75	78	77	82	72	92	89	88	86
Selling, General & Admin Expense	40	42	44	45	44	43	46	47	51	52	54
Research & Development Expense	22	23	23	24	23	25	23	25	24	23	23
Amortization Expense	5.13	5.10	5.75	6.91	6.59	6.55	5.55	6.87	6.93	8.12	5.77
Restructuring Charge	4.48	4.62	2.28	2.54	2.50	6.38	-2.46	13	6.68	5.86	2.61
Total Other Income / (Expense), net	-7.32	-5.93	-8.69	-8.59	-8.33	-5.91	-6.00	-9.12	-6.09	-3.16	-1.19
Interest & Investment Income	-6.76	-5.92	-8.25	-8.27	-8.08	-6.89	-5.64	-5.82	-6.01	-4.00	-1.84
Other Income / (Expense), net	-0.56	-0.01	-0.44	-0.32	-0.25	0.98	-0.36	-3.31	-0.08	0.84	0.66
Income Tax Expense	1.77	3.24	2.24	3.38	5.03	4.33	5.21	1.29	5.11	4.21	5.26
Basic Earnings per Share	$0.59	$0.35	$0.41	$0.38	$0.53	$0.46	$0.59	$0.12	$0.30	$0.46	$0.50
Weighted Average Basic Shares Outstanding	35.86M	35.84M	35.91M	35.95M	35.96M	35.95M	36.02M	36.02M	35.97M	36.59M	40.43M
Diluted Earnings per Share	$0.59	$0.34	$0.41	$0.38	$0.53	$0.45	$0.59	$0.12	$0.30	$0.46	$0.51
Weighted Average Diluted Shares Outstanding	36.04M	36.03M	36.13M	36.09M	36.13M	36.12M	36.13M	36.08M	36.04M	36.70M	41.16M
Weighted Average Basic & Diluted Shares Outstanding	35.81M	35.85M	35.89M	35.90M	35.92M	35.96M	35.97M	35.97M	35.78M	35.68M	35.61M

This table details how cash moves in and out of Novanta's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	8.81	8.15	32	-18	-3.10	46	-7.66	-17	4.95	8.94	267
Net Cash From Operating Activities	33	48	63	90	63	140	95	91	120	159	64
Net Cash From Continuing Operating Activities	33	48	63	90	63	140	95	91	120	159	64
Net Income / (Loss) Continuing Operations	36	22	62	51	41	45	50	74	73	64	54
Consolidated Net Income / (Loss)	36	22	62	51	41	45	50	74	73	64	54
Depreciation Expense	19	20	31	37	38	38	43	53	47	56	62
Amortization Expense	-	-	4.75	-	-	0.00	0.00	0.62	0.00	0.00	0.43
Non-Cash Adjustments To Reconcile Net Income	-14	7.70	-18	11	16	29	32	28	37	36	31
Changes in Operating Assets and Liabilities, net	-7.69	-2.27	-16	-9.01	-32	29	-31	-65	-36	2.73	-83
Net Cash From Investing Activities	-1.63	-13	-177	-46	-64	-13	-307	-43	-20	-208	-74
Net Cash From Continuing Investing Activities	-1.84	-13	-177	-46	-64	-13	-307	-43	-20	-208	-74
Purchase of Property, Plant & Equipment	-5.55	-8.46	-9.09	-15	-11	-11	-20	-20	-20	-17	-16
Acquisitions	-26	-13	-168	-31	-53	-2.63	-287	-23	0.00	-191	-64
Sale of Property, Plant & Equipment	0.13	7.04	0.05	0.27	0.04	0.00	0.20	0.14	0.07	0.17	5.60
Net Cash From Financing Activities	-22	-23	143	-60	-3.94	-84	205	-60	-98	57	276
Net Cash From Continuing Financing Activities	-22	-23	143	-60	-3.94	-84	205	-60	-98	57	276
Repayment of Debt	-31	-20	-28	-75	-54	-38	-34	-62	-87	-131	-374
Repurchase of Common Equity	-1.63	-1.63	-0.37	-5.85	-10	-5.50	0.00	-10	0.00	0.00	-39
Issuance of Debt	13	0.00	177	55	67	0.00	280	70	0.00	198	83
Issuance of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	614
Other Financing Activities, net	-1.94	-1.79	-4.64	-3.56	-6.94	-41	-41	-58	-11	-9.71	-7.81
Effect of Exchange Rate Changes	-1.44	-3.59	2.62	-1.91	1.43	3.38	-0.34	-5.37	2.62	1.67	0.82
Cash Interest Paid	3.78	2.92	5.83	8.92	8.39	5.53	6.21	14	25	33	23
Cash Income Taxes Paid	11	14	21	20	14	5.88	11	20	37	21	39

This table details how cash moves in and out of Novanta's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Change in Cash & Equivalents	-15	29	-12	4.95	-5.78	21	-7.94	3.87	-21	292	7.93
Net Cash From Operating Activities	45	39	33	41	23	62	32	15	8.50	8.81	52
Net Cash From Continuing Operating Activities	45	39	33	41	23	62	32	15	8.50	8.81	52
Net Income / (Loss) Continuing Operations	21	13	15	14	19	16	21	4.50	11	17	21
Consolidated Net Income / (Loss)	21	13	15	14	19	16	21	4.50	11	17	21
Depreciation Expense	11	12	13	14	14	14	14	16	16	17	14
Amortization Expense	-	-	-	-	-	-	0.00	-	-	-	0.00
Non-Cash Adjustments To Reconcile Net Income	11	8.99	11	11	8.36	6.09	3.88	8.97	8.40	9.77	11
Changes in Operating Assets and Liabilities, net	1.38	5.95	-5.37	2.12	-19	25	-6.97	-14	-26	-36	5.05
Net Cash From Investing Activities	-6.80	-6.15	-198	-4.94	-3.56	-2.08	1.25	-67	-5.40	-3.61	-3.79
Net Cash From Continuing Investing Activities	-6.80	-6.15	-198	-4.94	-3.56	-2.08	1.25	-67	-5.40	-3.61	-3.79
Purchase of Property, Plant & Equipment	-6.80	-6.22	-6.42	-4.94	-3.56	-2.25	-4.28	-3.39	-4.28	-3.67	-4.14
Acquisitions	-	-	-191	-	-	-	0.00	-63	-1.12	-	0.00
Sale of Property, Plant & Equipment	-	-	0.00	-	-	-	5.54	-	-	0.06	0.35
Net Cash From Financing Activities	-52	-5.07	153	-32	-29	-36	-43	55	-23	288	-40
Net Cash From Continuing Financing Activities	-52	-5.07	153	-32	-29	-36	-43	55	-23	288	-40
Repayment of Debt	-52	-4.60	-36	-32	-29	-35	-30	-17	-8.83	-318	-10
Repurchase of Common Equity	-	-	0.00	-	-	-	-6.16	-	-14	-19	-19
Issuance of Debt	-	-	198	-	-	-	0.00	73	-	10	0.00
Other Financing Activities, net	-0.16	-0.47	-8.39	-0.48	-0.06	-0.79	-6.67	-0.52	-0.53	-0.09	-11
Effect of Exchange Rate Changes	-1.25	1.32	-0.21	0.81	3.64	-2.57	1.85	0.52	-0.37	-1.19	0.24
Cash Interest Paid	6.58	6.01	7.85	8.64	8.89	7.30	5.64	6.45	5.79	4.69	3.50
Cash Income Taxes Paid	7.37	8.22	1.41	6.63	11	2.35	5.30	9.79	16	7.36	4.49

This table presents Novanta's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	416	426	727	720	870	865	1,228	1,241	1,226	1,389	1,807
Total Current Assets	0.00	199	288	282	305	304	374	421	415	434	783
Cash & Equivalents	60	68	100	82	79	125	117	100	105	114	381
Accounts Receivable	57	64	81	84	91	75	116	138	139	151	185
Inventories, net	60	60	91	105	117	93	126	168	149	145	188
Prepaid Expenses	5.99	5.57	11	9.16	12	8.13	13	13	13	16	19
Current Deferred & Refundable Income Taxes	2.51	2.06	4.39	1.85	5.91	3.20	2.00	1.51	8.11	8.08	9.38
Plant, Property, & Equipment, net	41	35	62	65	78	79	87	103	109	113	118
Total Noncurrent Assets	190	191	377	372	488	482	767	718	701	842	906
Goodwill	103	108	211	218	275	286	480	479	485	584	647
Intangible Assets	66	62	155	143	166	149	221	176	145	186	181
Noncurrent Deferred & Refundable Income Taxes	7.89	8.59	7.05	9.49	8.89	10	12	15	28	23	27
Other Noncurrent Operating Assets	13	13	4.02	2.27	38	37	54	48	44	49	51
Total Liabilities & Shareholders' Equity	0.00	426	727	720	870	865	1,228	1,241	1,226	1,389	1,807
Total Liabilities	0.00	167	368	351	453	388	707	664	553	643	493
Total Current Liabilities	0.00	70	98	104	135	114	184	165	139	168	212
Short-Term Debt	0.00	7.37	9.12	4.54	5.03	5.51	5.10	4.80	4.97	4.69	38
Accounts Payable	0.00	32	40	51	53	43	69	75	57	77	95
Accrued Expenses	0.00	27	43	46	70	54	98	63	61	60	63
Current Deferred & Payable Income Tax Liabilities	0.00	3.97	5.94	2.63	1.86	5.79	4.51	14	7.77	16	5.86
Other Current Liabilities	-	-	-	0.00	5.04	6.19	7.33	7.79	8.19	9.88	9.86
Total Noncurrent Liabilities	0.00	96	270	247	318	274	523	499	413	475	280
Long-Term Debt	0.00	71	226	203	215	195	429	431	349	412	213
Capital Lease Obligations	-	-	-	0.00	34	33	-	41	37	41	39
Noncurrent Deferred Revenue	0.00	5.71	3.75	4.46	4.71	5.11	4.22	4.36	4.44	4.94	3.96
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	1.29	26	23	27	24	34	17	16	13	18
Other Noncurrent Operating Liabilities	0.00	19	15	17	37	17	55	6.09	5.93	4.49	6.99
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.00	259	312	368	417	477	521	578	673	746	1,314
Total Preferred & Common Equity	0.00	259	312	368	417	477	521	578	673	746	1,314
Preferred Stock	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.00	259	312	368	417	477	521	578	673	746	1,314
Common Stock	0.00	454	457	470	474	483	478	479	494	508	996
Retained Earnings	0.00	-168	-128	-79	-38	6.20	57	131	203	268	321
Accumulated Other Comprehensive Income / (Loss)	0.00	-28	-18	-23	-18	-12	-13	-32	-24	-30	-3.00

This table presents Novanta's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/29/2023	3/29/2024	6/28/2024	9/27/2024	3/28/2025	6/27/2025	9/26/2025	4/3/2026
Total Assets	1,208	1,226	1,233	1,194	1,411	1,399	1,419	1,385	1,511	1,506	1,799
Total Current Assets	408	405	414	391	429	425	437	434	462	468	787
Cash & Equivalents	85	83	91	76	94	98	93	106	110	89	389
Accounts Receivable	145	141	145	143	151	145	165	164	161	171	174
Inventories, net	163	167	163	154	161	160	154	145	168	180	193
Prepaid Expenses	15	12	12	13	15	12	13	13	15	19	22
Current Deferred & Refundable Income Taxes	0.99	1.67	3.14	5.30	7.73	9.36	13	5.83	8.16	9.76	8.75
Plant, Property, & Equipment, net	95	104	104	103	113	115	120	113	119	120	117
Total Noncurrent Assets	705	717	715	700	868	859	862	839	930	918	895
Goodwill	465	483	483	478	590	587	594	589	649	648	643
Intangible Assets	179	169	161	151	215	207	198	178	204	193	170
Noncurrent Deferred & Refundable Income Taxes	12	18	21	25	13	16	19	25	27	27	30
Other Noncurrent Operating Assets	49	48	49	46	50	49	51	47	50	50	52
Total Liabilities & Shareholders' Equity	1,208	1,226	1,233	1,194	1,411	1,399	1,419	1,385	1,511	1,506	1,799
Total Liabilities	665	628	607	549	729	697	677	616	710	704	488
Total Current Liabilities	158	142	136	138	151	153	157	170	182	187	221
Short-Term Debt	4.37	4.90	4.91	4.74	4.85	4.81	5.02	4.85	5.20	5.69	40
Accounts Payable	80	66	65	64	71	71	69	83	89	100	96
Accrued Expenses	59	49	52	54	55	55	57	56	65	67	67
Current Deferred & Payable Income Tax Liabilities	7.82	14	6.59	7.22	11	13	15	16	13	4.01	7.89
Other Current Liabilities	7.66	7.66	7.88	8.07	9.24	9.76	9.98	9.96	10	10	9.69
Total Noncurrent Liabilities	507	485	471	411	577	543	520	446	528	517	267
Long-Term Debt	438	419	404	348	509	477	453	385	454	446	201
Capital Lease Obligations	41	-	-	-	43	41	43	39	41	40	37
Noncurrent Deferred Revenue	5.15	4.52	4.66	4.93	4.69	4.82	5.34	4.67	4.97	5.22	4.52
Noncurrent Deferred & Payable Income Tax Liabilities	17	17	16	14	15	14	14	13	21	20	17
Other Noncurrent Operating Liabilities	6.25	45	46	44	5.77	5.46	5.19	4.26	6.82	6.49	7.31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	542	598	626	645	682	702	742	770	801	801	1,311
Total Preferred & Common Equity	542	598	626	645	682	702	742	770	801	801	1,311
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	542	598	626	645	682	702	742	770	801	801	1,311
Common Stock	476	476	481	487	492	497	504	502	509	500	980
Retained Earnings	115	149	170	191	218	232	251	289	293	304	342
Accumulated Other Comprehensive Income / (Loss)	-49	-27	-25	-33	-28	-27	-13	-21	-1.13	-2.79	-12

This table displays calculated financial ratios and metrics derived from Novanta's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.44%	2.99%	35.49%	17.85%	1.91%	-5.67%	19.67%	21.80%	2.41%	7.67%	3.30%
EBITDA Growth	540.52%	-18.31%	106.85%	-8.96%	-14.45%	0.78%	14.68%	46.38%	-0.24%	6.36%	-7.61%
EBIT Growth	499.42%	-27.58%	124.64%	-14.63%	-23.70%	1.30%	15.63%	61.70%	6.61%	0.90%	-17.58%
NOPAT Growth	290.40%	-0.46%	111.30%	25.64%	-16.79%	4.38%	11.65%	52.59%	9.79%	-6.78%	-18.93%
Net Income Growth	246.91%	-38.22%	183.18%	-17.99%	-20.20%	9.19%	13.05%	47.13%	-1.58%	-12.06%	-16.01%
EPS Growth	245.71%	-38.24%	79.37%	26.55%	-19.58%	8.70%	12.80%	46.10%	-1.94%	-12.38%	-16.95%
Operating Cash Flow Growth	-20.98%	43.01%	32.62%	41.45%	-29.45%	121.73%	-32.53%	-4.06%	32.27%	32.01%	-59.59%
Free Cash Flow Firm Growth	-44.02%	278.34%	-261.57%	133.08%	-185.04%	218.56%	-431.51%	85.80%	422.74%	-143.59%	-57.28%
Invested Capital Growth	30.83%	-24.55%	83.50%	0.11%	20.08%	-1.30%	43.31%	13.76%	0.67%	13.41%	12.33%
Revenue Q/Q Growth	-1.01%	2.30%	10.15%	1.53%	0.57%	-2.02%	7.85%	2.31%	-0.77%	2.87%	2.11%
EBITDA Q/Q Growth	122.34%	11.86%	13.06%	-1.31%	-3.87%	4.69%	8.43%	1.47%	-2.23%	5.62%	0.46%
EBIT Q/Q Growth	355.74%	19.60%	7.33%	-3.77%	-7.47%	9.08%	9.40%	2.90%	-2.63%	5.76%	-2.16%
NOPAT Q/Q Growth	1,209.24%	13.55%	11.31%	4.11%	-2.10%	4.30%	2.21%	7.34%	-4.44%	4.52%	-1.35%
Net Income Q/Q Growth	3,760.33%	8.12%	3.18%	4.00%	-5.62%	8.37%	2.23%	2.08%	-3.64%	6.57%	1.91%
EPS Q/Q Growth	3,500.00%	10.53%	-17.52%	31.19%	-5.74%	7.76%	2.17%	1.48%	-3.35%	6.63%	0.68%
Operating Cash Flow Q/Q Growth	-2.00%	12.02%	16.57%	-0.18%	27.08%	8.64%	-15.86%	15.08%	-1.33%	16.60%	-45.16%
Free Cash Flow Firm Q/Q Growth	-226.73%	636.55%	3.00%	17.95%	-7.07%	-26.08%	24.33%	-207.59%	-25.46%	72.52%	-418.10%
Invested Capital Q/Q Growth	33.19%	-1.25%	-0.83%	-2.12%	-1.41%	2.55%	-5.34%	1.32%	4.19%	-5.29%	1.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.26%	42.22%	42.30%	42.57%	41.86%	41.40%	42.49%	43.96%	45.36%	44.41%	44.39%
EBITDA Margin	18.82%	14.93%	22.79%	17.61%	14.78%	15.79%	15.13%	18.19%	17.71%	17.50%	15.65%
Operating Margin	7.74%	8.57%	11.04%	11.56%	8.83%	9.46%	9.06%	11.97%	12.53%	11.65%	9.59%
EBIT Margin	13.71%	9.64%	15.98%	11.58%	8.67%	9.31%	8.99%	11.94%	12.43%	11.65%	9.29%
Profit (Net Income) Margin	9.53%	5.72%	11.95%	8.32%	6.51%	7.54%	7.12%	8.60%	8.27%	6.75%	5.49%
Tax Burden Percent	77.39%	67.66%	81.84%	83.35%	89.09%	91.98%	89.60%	84.96%	87.02%	81.06%	77.29%
Interest Burden Percent	89.88%	87.71%	91.40%	86.20%	84.35%	88.06%	88.38%	84.81%	76.44%	71.52%	76.43%
Effective Tax Rate	22.58%	32.34%	18.16%	16.65%	10.91%	8.02%	10.40%	15.04%	12.98%	18.94%	22.71%
Return on Invested Capital (ROIC)	7.13%	7.14%	12.37%	12.00%	9.07%	8.73%	8.06%	9.77%	10.05%	8.75%	6.29%
ROIC Less NNEP Spread (ROIC-NNEP)	13.47%	6.98%	33.42%	5.77%	3.43%	3.88%	4.74%	5.87%	3.02%	0.64%	-8.66%
Return on Net Nonoperating Assets (RNNOA)	26.59%	9.86%	7.82%	2.06%	1.31%	1.23%	2.02%	3.70%	1.60%	0.28%	-1.06%
Return on Equity (ROE)	33.72%	17.00%	20.19%	14.06%	10.38%	9.96%	10.09%	13.48%	11.65%	9.03%	5.23%
Cash Return on Invested Capital (CROIC)	-19.58%	35.12%	-46.54%	11.88%	-9.18%	10.04%	-27.54%	-3.10%	9.38%	-3.82%	-5.32%
Operating Return on Assets (OROA)	12.61%	8.81%	14.46%	9.83%	6.83%	6.34%	6.07%	8.32%	8.88%	8.46%	5.70%
Return on Assets (ROA)	8.77%	5.23%	10.81%	7.07%	5.13%	5.13%	4.81%	6.00%	5.91%	4.90%	3.37%
Return on Common Equity (ROCE)	33.65%	17.00%	18.65%	13.15%	10.38%	9.96%	10.09%	13.48%	11.65%	9.03%	5.23%
Return on Equity Simple (ROE_SIMPLE)	0.00%	8.50%	20.00%	13.87%	9.77%	9.34%	9.66%	12.82%	10.82%	8.59%	0.00%
Net Operating Profit after Tax (NOPAT)	22	22	47	59	49	51	57	88	96	90	73
NOPAT Margin	6.00%	5.79%	9.04%	9.63%	7.87%	8.70%	8.12%	10.17%	10.91%	9.44%	7.41%
Net Nonoperating Expense Percent (NNEP)	-6.34%	0.16%	-21.05%	6.23%	5.64%	4.85%	3.32%	3.90%	7.02%	8.11%	14.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	8.31%	9.03%	7.45%	4.53%
Cost of Revenue to Revenue	57.74%	57.78%	57.70%	57.43%	58.14%	58.60%	57.51%	56.04%	54.64%	55.59%	55.61%
SG&A Expenses to Revenue	21.96%	21.13%	19.50%	18.87%	18.91%	18.60%	18.27%	18.46%	18.65%	18.54%	19.95%
R&D to Revenue	8.31%	8.32%	7.99%	8.31%	8.94%	10.33%	10.26%	9.96%	10.40%	10.06%	9.74%
Operating Expenses to Revenue	34.52%	33.66%	31.26%	31.01%	33.03%	31.94%	33.43%	31.99%	32.82%	32.76%	34.80%
Earnings before Interest and Taxes (EBIT)	51	37	83	71	54	55	64	103	110	111	91
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	57	119	108	93	93	107	157	156	166	153
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.79	5.55	5.97	7.44	8.72	12.04	8.40	8.96	7.36	3.24
Price to Tangible Book Value (P/TBV)	0.00	8.13	0.00	286.59	0.00	98.25	0.00	0.00	137.28	0.00	8.76
Price to Revenue (P/Rev)	0.00	1.88	3.32	3.58	4.95	7.04	8.88	5.63	6.84	5.78	4.34
Price to Earnings (P/E)	0.00	32.87	28.80	44.78	76.08	93.36	124.72	65.49	82.75	85.63	79.08
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.04%	3.47%	2.23%	1.31%	1.07%	0.80%	1.53%	1.21%	1.17%	1.26%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.73	3.88	4.71	5.53	7.29	7.87	5.48	6.58	5.35	3.41
Enterprise Value to Revenue (EV/Rev)	0.00	1.91	3.67	3.78	5.23	7.22	9.33	6.07	7.17	6.14	4.25
Enterprise Value to EBITDA (EV/EBITDA)	0.00	12.76	16.09	21.49	35.42	45.73	61.66	33.38	40.45	35.10	27.14
Enterprise Value to EBIT (EV/EBIT)	0.00	19.77	22.94	32.68	60.40	77.59	103.75	50.84	57.66	52.74	45.72
Enterprise Value to NOPAT (EV/NOPAT)	0.00	32.88	40.57	39.27	66.55	82.97	114.90	59.67	65.70	65.05	57.33
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	15.34	30.15	25.93	51.82	30.41	69.69	57.56	52.61	36.79	65.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.68	0.00	39.65	0.00	72.15	0.00	0.00	70.37	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.30	0.65	0.56	0.61	0.49	0.83	0.82	0.58	0.61	0.22
Long-Term Debt to Equity	0.00	0.27	0.63	0.55	0.60	0.48	0.82	0.82	0.57	0.61	0.19
Financial Leverage	1.97	1.41	0.23	0.36	0.38	0.32	0.43	0.63	0.53	0.44	0.12
Leverage Ratio	3.85	3.25	1.87	1.99	2.02	1.94	2.10	2.25	1.97	1.84	1.55
Compound Leverage Factor	3.46	2.85	1.71	1.72	1.71	1.71	1.85	1.91	1.51	1.32	1.19
Debt to Total Capital	0.00%	23.14%	39.56%	36.03%	37.89%	32.85%	45.46%	45.19%	36.77%	38.01%	18.06%
Short-Term Debt to Total Capital	0.00%	2.19%	1.54%	0.79%	0.75%	0.78%	0.53%	0.46%	0.47%	0.39%	2.39%
Long-Term Debt to Total Capital	0.00%	20.95%	38.02%	35.24%	37.14%	32.07%	44.92%	44.74%	36.31%	37.62%	15.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	7.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	76.86%	52.53%	63.97%	62.11%	67.15%	54.54%	54.81%	63.23%	61.99%	81.94%
Debt to EBITDA	0.00	1.36	1.97	1.92	2.75	2.50	4.06	3.04	2.51	2.75	1.89
Net Debt to EBITDA	0.00	0.17	1.13	1.16	1.90	1.16	2.96	2.40	1.84	2.07	-0.59
Long-Term Debt to EBITDA	0.00	1.23	1.90	1.88	2.70	2.44	4.01	3.01	2.48	2.72	1.64
Debt to NOPAT	0.00	3.49	4.98	3.50	5.17	4.54	7.57	5.44	4.07	5.10	3.99
Net Debt to NOPAT	0.00	0.44	2.86	2.12	3.56	2.10	5.52	4.30	2.98	3.83	-1.25
Long-Term Debt to NOPAT	0.00	3.16	4.79	3.43	5.06	4.43	7.48	5.38	4.02	5.05	3.46
Altman Z-Score	0.00	3.61	3.98	5.08	5.21	7.59	6.33	5.75	8.06	6.57	6.52
Noncontrolling Interest Sharing Ratio	0.20%	0.00%	7.60%	6.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.83	2.93	2.70	2.26	2.66	2.03	2.56	2.98	2.58	3.69
Quick Ratio	0.00	1.87	1.85	1.59	1.26	1.75	1.27	1.45	1.76	1.58	2.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-62	110	-177	59	-50	59	-196	-28	90	-39	-62
Operating Cash Flow to CapEx	615.96%	3,353.54%	700.46%	622.94%	591.05%	1,332.56%	478.48%	465.39%	603.63%	933.03%	638.58%
Free Cash Flow to Firm to Interest Expense	-11.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	5.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.92	0.91	0.90	0.85	0.79	0.68	0.68	0.70	0.71	0.73	0.61
Accounts Receivable Turnover	6.88	6.36	7.18	7.43	7.15	7.11	7.41	6.80	6.36	6.54	5.84
Inventory Turnover	3.52	3.73	3.98	3.60	3.29	3.31	3.72	3.29	3.04	3.59	3.28
Fixed Asset Turnover	9.27	10.13	10.73	9.66	8.76	7.56	8.51	9.03	8.29	8.53	8.47
Accounts Payable Turnover	0.00	0.00	8.35	7.79	7.05	7.24	7.29	6.71	7.28	7.87	6.35
Days Sales Outstanding (DSO)	53.09	57.37	50.85	49.15	51.02	51.33	49.23	53.70	57.36	55.84	62.52
Days Inventory Outstanding (DIO)	103.65	97.95	91.64	101.41	110.99	110.39	98.06	111.09	120.22	101.67	111.41
Days Payable Outstanding (DPO)	0.00	0.00	43.69	46.83	51.80	50.38	50.05	54.38	50.16	46.37	57.48
Cash Conversion Cycle (CCC)	156.74	155.32	98.80	103.73	110.21	111.34	97.24	110.41	127.42	111.14	116.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	356	269	493	494	593	585	838	954	960	1,089	1,223
Invested Capital Turnover	1.19	1.23	1.37	1.25	1.15	1.00	0.99	0.96	0.92	0.93	0.85
Increase / (Decrease) in Invested Capital	84	-87	224	0.56	99	-7.71	253	115	6.38	129	134
Enterprise Value (EV)	0.00	733	1,911	2,324	3,277	4,265	6,594	5,225	6,317	5,831	4,166
Market Capitalization	0.00	723	1,730	2,199	3,102	4,157	6,277	4,849	6,031	5,488	4,257
Book Value per Share	$0.00	$7.52	$9.01	$10.55	$11.89	$13.56	$14.64	$16.18	$18.81	$20.76	$36.74
Tangible Book Value per Share	($4.94)	$2.58	($1.58)	$0.22	($0.68)	$1.20	($5.03)	($2.16)	$1.23	($0.67)	$13.59
Total Capital	0.00	337	593	576	672	710	956	1,054	1,065	1,203	1,604
Total Debt	0.00	78	235	207	254	233	434	476	392	457	290
Total Long-Term Debt	0.00	71	226	203	249	228	429	471	387	452	251
Net Debt	-60	9.81	135	125	176	108	317	376	287	343	-91
Capital Expenditures (CapEx)	5.43	1.43	9.05	14	11	11	20	20	20	17	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-60	68	99	100	96	70	78	161	176	157	228
Debt-free Net Working Capital (DFNWC)	0.00	136	199	182	175	195	195	261	281	271	609
Net Working Capital (NWC)	0.00	129	190	178	170	190	190	256	276	266	570
Net Nonoperating Expense (NNE)	-13	0.29	-15	8.09	8.48	6.88	7.06	14	23	26	19
Net Nonoperating Obligations (NNO)	356	9.81	135	125	176	108	317	376	287	343	-91
Total Depreciation and Amortization (D&A)	19	20	36	37	38	38	43	54	47	56	62
Debt-free, Cash-free Net Working Capital to Revenue	-16.05%	17.68%	18.95%	16.29%	15.29%	11.92%	10.98%	18.67%	19.97%	16.49%	23.22%
Debt-free Net Working Capital to Revenue	0.00%	35.38%	38.14%	29.64%	27.90%	33.09%	27.59%	30.29%	31.88%	28.50%	62.06%
Net Working Capital to Revenue	0.00%	33.46%	36.39%	28.90%	27.10%	32.16%	26.87%	29.74%	31.32%	28.01%	58.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.63	$1.14	$1.46	$1.16	$1.27	$1.42	$2.08	$2.03	$1.78	$1.47
Adjusted Weighted Average Basic Shares Outstanding	0.00	34.69M	34.82M	34.91M	35.03M	35.14M	35.40M	35.65M	35.84M	35.95M	36.59M
Adjusted Diluted Earnings per Share	$0.00	$0.63	$1.13	$1.43	$1.15	$1.25	$1.41	$2.06	$2.02	$1.77	$1.47
Adjusted Weighted Average Diluted Shares Outstanding	0.00	34.91M	35.28M	35.47M	35.55M	35.65M	35.78M	35.91M	36.03M	36.12M	36.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	34.46M	34.60M	34.90M	35.09M	35.31M	35.63M	35.74M	35.85M	35.96M	35.68M
Normalized Net Operating Profit after Tax (NOPAT)	29	28	53	66	64	55	74	91	107	101	90
Normalized NOPAT Margin	7.71%	7.19%	10.22%	10.73%	10.22%	9.30%	10.40%	10.61%	12.17%	10.61%	9.20%
Pre Tax Income Margin	12.32%	8.45%	14.60%	9.98%	7.31%	8.20%	7.95%	10.12%	9.50%	8.33%	7.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.88	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	4.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	8.84	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.28	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	60.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	4.57%	7.43%	0.59%	71.73%	24.53%	12.35%	0.00%	13.50%	0.00%	0.00%	72.97%

This table displays calculated financial ratios and metrics derived from Novanta's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,683,769.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	35,683,769.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.59
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.65%	-3.12%	5.38%	2.79%	10.34%	12.52%	1.06%	2.20%	1.40%	8.52%	10.43%
EBITDA Growth	-6.44%	-9.70%	0.79%	-10.24%	12.91%	26.60%	19.75%	-31.20%	-19.32%	1.68%	-7.16%
EBIT Growth	-3.52%	-12.01%	-3.45%	-20.84%	8.58%	27.78%	27.38%	-54.31%	-32.60%	-7.26%	-12.05%
NOPAT Growth	16.19%	-20.40%	-8.76%	-22.38%	-7.80%	22.77%	17.15%	-43.90%	-42.73%	-5.35%	-15.29%
Net Income Growth	-5.63%	-18.03%	-19.65%	-34.12%	-9.57%	31.60%	44.51%	-67.31%	-44.49%	6.12%	-0.51%
EPS Growth	-6.35%	-17.07%	-19.61%	-34.48%	-10.17%	32.35%	43.90%	-68.42%	-43.40%	2.22%	-13.56%
Operating Cash Flow Growth	202.47%	-3.99%	220.44%	56.87%	-48.42%	57.88%	-3.49%	-63.32%	-63.11%	-85.70%	62.88%
Free Cash Flow Firm Growth	251.00%	111.57%	-971.43%	-365.76%	-523.36%	-1,092.09%	142.60%	67.13%	80.46%	-6.11%	-210.21%
Invested Capital Growth	-2.11%	0.67%	21.95%	19.46%	24.76%	13.41%	-4.57%	5.78%	4.72%	12.33%	9.92%
Revenue Q/Q Growth	-3.47%	-4.48%	9.14%	2.14%	3.62%	-2.60%	-1.97%	3.29%	2.82%	4.24%	-0.25%
EBITDA Q/Q Growth	-6.52%	-19.28%	14.71%	3.71%	17.58%	-9.49%	8.51%	-40.42%	37.88%	14.06%	-0.93%
EBIT Q/Q Growth	-7.27%	-27.17%	16.17%	0.90%	27.20%	-14.30%	15.81%	-63.81%	87.63%	17.93%	9.82%
NOPAT Q/Q Growth	5.16%	-38.43%	28.99%	-7.06%	24.91%	-18.02%	23.09%	-55.50%	27.51%	35.50%	10.16%
Net Income Q/Q Growth	1.65%	-41.05%	17.30%	-6.28%	39.53%	-14.21%	28.81%	-78.80%	136.89%	64.00%	20.77%
EPS Q/Q Growth	1.72%	-42.37%	20.59%	-7.32%	39.47%	-15.09%	31.11%	-79.66%	150.00%	53.33%	10.87%
Operating Cash Flow Q/Q Growth	70.41%	-12.65%	-15.81%	25.18%	-43.97%	167.36%	-48.53%	-52.43%	-43.64%	3.65%	486.10%
Free Cash Flow Firm Q/Q Growth	236.70%	-77.31%	-1,794.52%	11.39%	-24.25%	46.82%	172.77%	-168.37%	26.16%	-188.84%	24.43%
Invested Capital Q/Q Growth	-2.30%	4.19%	19.24%	-1.58%	2.04%	-5.29%	0.33%	9.09%	1.02%	1.59%	-1.82%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.86%	45.64%	43.49%	43.96%	44.69%	45.46%	44.72%	44.28%	44.76%	43.84%	44.07%
EBITDA Margin	18.58%	15.70%	16.50%	16.75%	19.01%	17.66%	19.55%	11.28%	15.12%	16.55%	16.44%
Operating Margin	13.68%	10.25%	11.09%	10.90%	13.32%	11.22%	13.89%	6.19%	8.82%	9.61%	10.69%
EBIT Margin	13.43%	10.24%	10.90%	10.77%	13.22%	11.63%	13.74%	4.81%	8.78%	9.94%	10.94%
Profit (Net Income) Margin	9.58%	5.91%	6.36%	5.83%	7.85%	6.92%	9.09%	1.87%	4.30%	6.76%	8.19%
Tax Burden Percent	92.30%	79.46%	86.76%	80.30%	79.22%	79.17%	80.28%	77.68%	67.60%	80.60%	80.06%
Interest Burden Percent	77.29%	72.68%	67.21%	67.45%	74.99%	75.11%	82.40%	49.89%	72.38%	84.43%	93.46%
Effective Tax Rate	7.70%	20.54%	13.24%	19.70%	20.78%	20.83%	19.72%	22.32%	32.40%	19.40%	19.94%
Return on Invested Capital (ROIC)	12.05%	7.50%	8.25%	7.61%	9.40%	8.23%	9.49%	3.97%	4.86%	6.57%	7.50%
ROIC Less NNEP Spread (ROIC-NNEP)	10.05%	6.08%	6.37%	5.75%	7.47%	6.74%	8.26%	2.23%	3.85%	4.55%	6.61%
Return on Net Nonoperating Assets (RNNOA)	5.72%	3.22%	4.00%	3.21%	3.69%	2.99%	4.47%	1.21%	2.02%	0.56%	0.68%
Return on Equity (ROE)	17.77%	10.72%	12.26%	10.83%	13.09%	11.22%	13.96%	5.17%	6.88%	7.13%	8.17%
Cash Return on Invested Capital (CROIC)	12.93%	9.38%	-10.75%	-9.21%	-13.75%	-3.82%	13.04%	1.69%	1.64%	-5.32%	-3.45%
Operating Return on Assets (OROA)	9.94%	7.32%	7.39%	7.36%	9.33%	8.44%	9.35%	3.17%	5.77%	6.10%	6.91%
Return on Assets (ROA)	7.09%	4.23%	4.31%	3.99%	5.55%	5.02%	6.19%	1.23%	2.82%	4.15%	5.17%
Return on Common Equity (ROCE)	17.77%	10.72%	12.26%	10.83%	13.09%	11.22%	13.96%	5.17%	6.88%	7.13%	8.17%
Return on Equity Simple (ROE_SIMPLE)	11.73%	0.00%	10.16%	8.86%	8.10%	0.00%	9.17%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	28	17	22	21	26	21	26	12	15	20	22
NOPAT Margin	12.63%	8.14%	9.62%	8.75%	10.55%	8.88%	11.15%	4.81%	5.96%	7.75%	8.56%
Net Nonoperating Expense Percent (NNEP)	2.00%	1.42%	1.88%	1.86%	1.93%	1.49%	1.23%	1.74%	1.02%	2.02%	0.89%
Return On Investment Capital (ROIC_SIMPLE)	-	1.62%	-	-	-	1.76%	2.17%	0.89%	1.14%	1.25%	1.39%
Cost of Revenue to Revenue	54.14%	54.36%	56.51%	56.04%	55.31%	54.54%	55.28%	55.72%	55.24%	56.16%	55.93%
SG&A Expenses to Revenue	17.90%	19.71%	18.85%	18.99%	18.13%	18.19%	19.54%	19.54%	20.73%	19.97%	21.11%
R&D to Revenue	9.94%	11.08%	10.07%	10.06%	9.51%	10.62%	9.96%	10.49%	9.72%	8.85%	9.02%
Operating Expenses to Revenue	32.18%	35.39%	32.40%	33.06%	31.37%	34.24%	30.82%	38.10%	35.94%	34.23%	33.39%
Earnings before Interest and Taxes (EBIT)	30	22	25	25	32	28	32	12	22	26	28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	41	33	38	40	46	42	46	27	37	43	42
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.97	8.96	9.18	8.34	8.54	7.36	6.03	5.83	4.53	3.24	3.19
Price to Tangible Book Value (P/TBV)	318.67	137.28	0.00	0.00	0.00	0.00	1,559.22	0.00	0.00	8.76	8.40
Price to Revenue (P/Rev)	5.78	6.84	7.00	6.51	6.87	5.78	4.88	4.89	3.78	4.34	4.16
Price to Earnings (P/E)	67.92	82.75	90.33	94.18	105.36	85.63	65.73	76.21	68.81	79.08	77.74
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.47%	1.21%	1.11%	1.06%	0.95%	1.17%	1.52%	1.31%	1.45%	1.26%	1.29%
Enterprise Value to Invested Capital (EV/IC)	5.87	6.58	5.87	5.57	5.87	5.35	4.54	4.25	3.35	3.41	3.39
Enterprise Value to Revenue (EV/Rev)	6.09	7.17	7.52	6.98	7.31	6.14	5.22	5.29	4.20	4.25	4.05
Enterprise Value to EBITDA (EV/EBITDA)	33.88	40.45	42.96	41.32	42.87	35.10	28.59	31.33	26.43	27.14	27.07
Enterprise Value to EBIT (EV/EBIT)	48.11	57.66	61.86	61.57	64.51	52.74	42.27	48.88	43.35	45.72	46.61
Enterprise Value to NOPAT (EV/NOPAT)	53.80	65.70	71.51	71.17	78.64	65.05	53.04	59.82	54.80	57.33	59.09
Enterprise Value to Operating Cash Flow (EV/OCF)	44.48	52.61	47.12	39.85	49.61	36.79	31.55	38.58	34.56	65.03	48.42
Enterprise Value to Free Cash Flow (EV/FCFF)	44.94	70.37	0.00	0.00	0.00	0.00	34.03	258.98	208.61	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.58	0.82	0.75	0.67	0.61	0.56	0.62	0.61	0.22	0.21
Long-Term Debt to Equity	0.54	0.57	0.81	0.74	0.67	0.61	0.55	0.62	0.61	0.19	0.18
Financial Leverage	0.57	0.53	0.63	0.56	0.49	0.44	0.54	0.54	0.52	0.12	0.10
Leverage Ratio	2.02	1.97	2.06	1.98	1.88	1.84	1.93	1.94	1.89	1.55	1.53
Compound Leverage Factor	1.56	1.43	1.38	1.34	1.41	1.38	1.59	0.97	1.37	1.31	1.43
Debt to Total Capital	35.35%	36.77%	44.95%	42.70%	40.26%	38.01%	35.78%	38.43%	38.03%	18.06%	17.53%
Short-Term Debt to Total Capital	0.47%	0.47%	0.39%	0.39%	0.40%	0.39%	0.40%	0.40%	0.44%	2.39%	2.54%
Long-Term Debt to Total Capital	34.88%	36.31%	44.56%	42.31%	39.86%	37.62%	35.37%	38.03%	37.59%	15.67%	14.99%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.65%	63.23%	55.05%	57.30%	59.74%	61.99%	64.22%	61.57%	61.97%	81.94%	82.47%
Debt to EBITDA	2.21	2.51	3.56	3.44	3.18	2.75	2.47	3.09	3.22	1.89	1.86
Net Debt to EBITDA	1.73	1.84	2.96	2.79	2.59	2.07	1.86	2.41	2.63	-0.59	-0.73
Long-Term Debt to EBITDA	2.18	2.48	3.53	3.41	3.15	2.72	2.44	3.06	3.18	1.64	1.59
Debt to NOPAT	3.50	4.07	5.92	5.93	5.83	5.10	4.58	5.91	6.68	3.99	4.05
Net Debt to NOPAT	2.75	2.98	4.93	4.81	4.75	3.83	3.45	4.61	5.46	-1.25	-1.60
Long-Term Debt to NOPAT	3.46	4.02	5.87	5.88	5.77	5.05	4.53	5.85	6.60	3.46	3.46
Altman Z-Score	6.91	7.83	6.30	6.21	6.83	6.37	5.81	5.11	4.29	6.40	6.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.83	2.98	2.83	2.77	2.79	2.58	2.56	2.54	2.51	3.69	3.56
Quick Ratio	1.58	1.76	1.61	1.59	1.64	1.58	1.59	1.49	1.39	2.66	2.55
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	48	11	-184	-163	-202	-108	78	-54	-40	-114	-86
Operating Cash Flow to CapEx	656.97%	626.88%	511.75%	832.39%	646.62%	2,737.31%	0.00%	444.86%	198.34%	243.70%	1,360.56%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.71	0.68	0.68	0.71	0.73	0.68	0.66	0.66	0.61	0.63
Accounts Receivable Turnover	6.18	6.36	6.11	6.21	6.00	6.54	6.04	6.25	5.73	5.84	5.94
Inventory Turnover	3.10	3.04	2.99	3.08	3.33	3.59	3.43	3.22	3.17	3.28	3.31
Fixed Asset Turnover	8.96	8.29	8.22	8.23	8.28	8.53	8.42	8.19	8.02	8.47	8.76
Accounts Payable Turnover	6.83	7.28	7.14	7.33	7.73	7.87	6.84	6.60	6.28	6.35	6.27
Days Sales Outstanding (DSO)	59.10	57.36	59.72	58.79	60.83	55.84	60.43	58.40	63.68	62.52	61.41
Days Inventory Outstanding (DIO)	117.78	120.22	121.99	118.44	109.54	101.67	106.41	113.34	114.99	111.41	110.25
Days Payable Outstanding (DPO)	53.41	50.16	51.10	49.77	47.22	46.37	53.38	55.27	58.16	57.48	58.20
Cash Conversion Cycle (CCC)	123.48	127.42	130.61	127.46	123.15	111.14	113.45	116.47	120.51	116.44	113.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	922	960	1,145	1,127	1,150	1,089	1,093	1,192	1,204	1,223	1,201
Invested Capital Turnover	0.95	0.92	0.86	0.87	0.89	0.93	0.85	0.83	0.82	0.85	0.88
Increase / (Decrease) in Invested Capital	-20	6.38	206	184	228	129	-52	65	54	134	108
Enterprise Value (EV)	5,413	6,317	6,722	6,279	6,743	5,831	4,965	5,067	4,037	4,166	4,066
Market Capitalization	5,136	6,031	6,259	5,855	6,336	5,488	4,642	4,676	3,634	4,257	4,176
Book Value per Share	$18.01	$18.81	$18.98	$19.56	$20.67	$20.76	$21.41	$22.28	$22.28	$36.74	$36.74
Tangible Book Value per Share	$0.45	$1.23	($3.43)	($2.56)	($1.40)	($0.67)	$0.08	($1.43)	($1.09)	$13.59	$13.94
Total Capital	997	1,065	1,238	1,225	1,242	1,203	1,199	1,302	1,293	1,604	1,590
Total Debt	353	392	557	523	500	457	429	500	492	290	279
Total Long-Term Debt	348	387	552	518	495	452	424	495	486	251	238
Net Debt	277	287	463	425	408	343	323	390	403	-91	-110
Capital Expenditures (CapEx)	6.80	6.22	6.42	4.94	3.56	2.25	-1.25	3.39	4.28	3.61	3.79
Debt-free, Cash-free Net Working Capital (DFCFNWC)	182	176	189	178	193	157	163	175	198	228	218
Debt-free Net Working Capital (DFNWC)	258	281	282	276	285	271	269	285	287	609	606
Net Working Capital (NWC)	253	276	277	271	280	266	265	280	282	570	566
Net Nonoperating Expense (NNE)	6.75	4.71	7.54	6.89	6.60	4.68	4.82	7.09	4.12	2.54	0.95
Net Nonoperating Obligations (NNO)	277	287	463	425	408	343	323	390	403	-91	-110
Total Depreciation and Amortization (D&A)	11	12	13	14	14	14	14	16	16	17	14
Debt-free, Cash-free Net Working Capital to Revenue	20.45%	19.97%	21.12%	19.74%	20.88%	16.49%	17.16%	18.34%	20.62%	23.22%	21.66%
Debt-free Net Working Capital to Revenue	29.00%	31.88%	31.59%	30.69%	30.92%	28.50%	28.31%	29.82%	29.91%	62.06%	60.34%
Net Working Capital to Revenue	28.47%	31.32%	31.05%	30.15%	30.38%	28.01%	27.80%	29.28%	29.32%	58.15%	56.32%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.59	$0.35	$0.41	$0.38	$0.53	$0.46	$0.59	$0.12	$0.30	$0.46	$0.50
Adjusted Weighted Average Basic Shares Outstanding	35.86M	35.84M	35.91M	35.95M	35.96M	35.95M	36.02M	36.02M	35.97M	36.59M	40.43M
Adjusted Diluted Earnings per Share	$0.59	$0.34	$0.41	$0.38	$0.53	$0.45	$0.59	$0.12	$0.30	$0.46	$0.51
Adjusted Weighted Average Diluted Shares Outstanding	36.04M	36.03M	36.13M	36.09M	36.13M	36.12M	36.13M	36.08M	36.04M	36.70M	41.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.81M	35.85M	35.89M	35.90M	35.92M	35.96M	35.97M	35.97M	35.78M	35.68M	35.61M
Normalized Net Operating Profit after Tax (NOPAT)	32	21	24	23	28	26	24	21	19	25	24
Normalized NOPAT Margin	14.50%	9.88%	10.48%	9.62%	11.36%	11.01%	10.31%	8.86%	7.78%	9.57%	9.36%
Pre Tax Income Margin	10.38%	7.44%	7.33%	7.26%	9.91%	8.74%	11.32%	2.40%	6.36%	8.39%	10.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.72%	10.03%	38.27%	72.97%	96.35%

Financials Breakdown Chart

Key Financial Trends

Here are the top observations from NOVT's quarterly statements across the last four years, highlighting trends in revenue, profitability, cash flow, and balance sheet metrics.

Revenue growth observed in 2025 Q4: Operating revenue was $258,349,000, up from 2024 Q4's $238,060,000 (roughly an 8.6% year-over-year increase), signaling improving top-line demand.
Net income improving in late 2025: Net income from continuing operations reached $17,471,000 in 2025 Q4, up from $16,464,000 in 2024 Q4, indicating earnings momentum resumed after prior fluctuations.
Operating margin remained solid in recent quarters: 2025 Q4 operating income was $24,832,000 on $258,349,000 revenue (about 9.6% operating margin), consistent with NOVT's historical profitability level.
Free cash flow remained positive in the latest quarter: 2025 Q4 free cash flow (approximated as CFO from continuing operations of $8.805M minus capex of $3.672M) was around $5.1M, showing ongoing cash generation after capital spending.
Cash and liquidity fluctuated within a mid-range: Cash & equivalents were about $89.2M at 2025 Q3 and roughly $109.9M at 2025 Q2, suggesting a stable but modest liquidity buffer that could be influenced by financing activities.
Debt level remained elevated but showed some movement: Long-term debt hovered in the mid-to-high hundreds of millions (e.g., approximately $386M–$456M in 2025), indicating a meaningful leverage base that could affect leverage metrics and interest burden.
Investments in working capital and capex were moderate: Quarterly purchases of property, plant & equipment ranged in the low-to-mid $3M range, with inventories at elevated levels (e.g., 2025 Q3 inventories around $179.98M), signaling working capital management needs.
Significant goodwill and intangible assets on the balance sheet: Goodwill around $647M–$649M and intangible assets around $193M–$206M in 2025, reflecting prior acquisitions and a sizeable intangible asset base.
Debt trajectory remains a risk factor: After a downshift in 2025 Q1, long-term debt rose again in 2025 (e.g., $445.7M in 2025 Q3), indicating leverage levels stayed high and could pose refinancing or interest-rate sensitivity risks if not managed carefully.

05/20/26 08:19 PM ETAI Generated. May Contain Errors.

Novanta Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Novanta's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Novanta's net income appears to be on an upward trend, with a most recent value of $53.83 million in 2025, rising from $35.62 million in 2015. The previous period was $64.09 million in 2024. See Novanta's forecast for analyst expectations on what's next for the company.

Novanta's total operating income in 2025 was $94.01 million, based on the following breakdown:

Total Gross Profit: $435.28 million
Total Operating Expenses: $341.27 million

Over the last 10 years, Novanta's total revenue changed from $373.60 million in 2015 to $980.60 million in 2025, a change of 162.5%.

Novanta's total liabilities were at $492.82 million at the end of 2025, a 23.3% decrease from 2024, and a 49,281,900,000.0% increase since 2015.

In the past 10 years, Novanta's cash and equivalents has ranged from $59.96 million in 2015 to $380.87 million in 2025, and is currently $380.87 million as of their latest financial filing in 2025.

Over the last 10 years, Novanta's book value per share changed from 0.00 in 2015 to 36.74 in 2025, a change of 3,673.8%.

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Financial statements for NASDAQ:NOVT last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Novanta (NOVT) Financials

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