Novanta (NOVT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Novanta

NasdaqGS•Technology•Scientific & Technical Instruments

$132.80-5.43(-0.04%)Pre-market

Market Cap

$5.48B

P/E

88.7x

P/S

5.3x

P/B

3.4x

Novanta Inc., together with its subsidiaries, provides precision medicine, precision manufacturing, medical solutions, robotics and automation solutions, and advanced surgery solutions in the United States and internationally. The company operates Automation Enabling Technologies and Medical Solutions segments. The Precision Medicine and Manufacturing segment designs, manufactures, and markets laser beam steering and scanning solutions, laser sources, robotic and precision motion, robotic end-of-arm tooling, and bearing spindles. This segment serves advanced industrial processes, advanced industrial and medical robotics, other medical and life science automation applications, and medical laser procedures, such as ophthalmology applications. The Medical Solutions segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; imaging, identification and RFID solutions; advanced motion control solutions; and light engines, and integrated operating room technologies. The company was formerly known as GSI Group, Inc. and changed its name to Novanta Inc. in May 2016. Novanta Inc. was incorporated in 1968 and is based in Bedford, Massachusetts.

How this company scores

GoodMetricSide Score: 60/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Profitability (7/25).

Profitability7/25

Growth14/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality18/25

Strengths

Low leverageCash-backed earningsConsistent free cash flowImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 88.7x5y range 58.4x – 122.9x

Currently near its 20-quarter median.

P/S · 5.3x5y range 3.8x – 8.7x

Currently near its 20-quarter median.

P/B · 3.4x5y range 3.4x – 11.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 19.5% — watch for continued compression, which may signal competitive or cost pressure.

Share Dilution

Red Flag

Shares outstanding increased 14.0% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $5.48B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.03B
Q. Revenue: $265.81M
TTM EBITDA: $153.88M
TTM Op. Income: $92.28M
Q. Op. Income: $18.06M
TTM Net Income: $61.76M
Q. Net Income: $12.54M
EPS: N/A
Shares Out.: $41.01M

$1.03B in TTM revenue grew 7.6% YoY, reaching $265.81M last quarter. TTM EBITDA of $153.88M and TTM operating income of $92.28M show growth is flowing through to the bottom line. TTM net income of $61.76M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 45.5%
EBITDA Margin: 12.3%
Op. Margin: 6.8%
Net Margin: 4.7%

Op. margin of 6.8% is up 0.6% YoY — cost efficiency is improving. Net margin at 4.7% and gross margin of 45.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 10% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 88.7x
P/S Ratio: 5.3x
P/B Ratio: 3.4x

At 88.7x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 5.3x and P/B of 3.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.14B
Cash: $718.65M
Long-Term Debt: $188.16M
Book Value: $1.62B
D/E Ratio: 0.1
Debt/EBITDA: 5.8

With $2.14B in assets and $188.16M in long-term debt, D/E is 0.1and book value is $1.62B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 4 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $64.93M
TTM Free Cash Flow: $114.28M
FCF Margin: 11.1%
FCF / Net Income: 1.9

TTM FCF of $114.28M on $64.93M in operating cash flow. The FCF / Net Income ratio of 1.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.