Novanta (NOVT)
Market Price (12/23/2025): $120.3 | Market Cap: $4.3 BilSector: Information Technology | Industry: Electronic Equipment & Instruments
Novanta (NOVT)
Market Price (12/23/2025): $120.3Market Cap: $4.3 BilSector: Information TechnologyIndustry: Electronic Equipment & Instruments
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -93% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 82x |
| Low stock price volatilityVol 12M is 46% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% | |
| Megatrend and thematic driversMegatrends include Autonomous Technologies, Automation & Robotics, and Precision Medicine. Themes include Machine Vision, Show more. | Key risksNOVT key risks include [1] the failure to meet ambitious growth and profit margin forecasts required to justify its high valuation, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 46% |
| Megatrend and thematic driversMegatrends include Autonomous Technologies, Automation & Robotics, and Precision Medicine. Themes include Machine Vision, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -93% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 82x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0% |
| Key risksNOVT key risks include [1] the failure to meet ambitious growth and profit margin forecasts required to justify its high valuation, Show more. |
Why The Stock Moved
Qualitative Assessment
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The provided time period from August 31, 2025, to December 23, 2025, is in the future. Therefore, I cannot provide actual key points for why Novanta's stock moved by 3.3% during this timeframe. However, I can identify significant events that were scheduled or reported within that period based on the available search results, which *could* influence stock movement. Here are some key points related to Novanta (NOVT) for the approximate time period, based on anticipated or reported events, which would typically influence stock performance: 1. 1. Novanta announced its Third Quarter 2025 financial results on November 3, 2025. The company reported GAAP revenue of $247.8 million, an increase of 1.4% year-over-year. Acquisition activities contributed $8.4 million or 3.4% to this revenue increase, with favorable foreign currency exchange rates adding another 1.8% or $4.4 million. Organic revenue growth, however, was -3.8% for the quarter. Novanta surpassed Q3 earnings and revenue estimates, with earnings of $0.87 per share against an estimate of $0.81. 2. 2. Novanta commenced and priced a public offering of 11 million tangible equity units, with an aggregate stated amount of $550.0 million, in early November 2025. The pricing of this offering was announced on November 7, 2025. Each unit had a stated amount of $50.00 and was comprised of a prepaid stock purchase contract and a senior amortizing note due 2028. The net proceeds from the offering were expected to be $533.0 million, intended to strengthen the balance sheet and fund growth plans. 3. Show moreStock Movement Drivers
Fundamental Drivers
The 6.2% change in NOVT stock from 9/22/2025 to 12/22/2025 was primarily driven by a 23.2% change in the company's P/E Multiple.| 9222025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 113.18 | 120.24 | 6.24% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 956.88 | 960.31 | 0.36% |
| Net Income Margin (%) | 6.41% | 5.50% | -14.22% |
| P/E Multiple | 66.44 | 81.87 | 23.22% |
| Shares Outstanding (Mil) | 36.02 | 35.97 | 0.15% |
| Cumulative Contribution | 6.24% |
Market Drivers
9/22/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| NOVT | 6.2% | |
| Market (SPY) | 2.7% | 50.4% |
| Sector (XLK) | 2.7% | 43.6% |
Fundamental Drivers
The -2.0% change in NOVT stock from 6/23/2025 to 12/22/2025 was primarily driven by a -25.9% change in the company's Net Income Margin (%).| 6232025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 122.73 | 120.24 | -2.03% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 951.70 | 960.31 | 0.91% |
| Net Income Margin (%) | 7.42% | 5.50% | -25.87% |
| P/E Multiple | 62.61 | 81.87 | 30.77% |
| Shares Outstanding (Mil) | 36.02 | 35.97 | 0.16% |
| Cumulative Contribution | -2.03% |
Market Drivers
6/23/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| NOVT | -2.0% | |
| Market (SPY) | 14.4% | 53.9% |
| Sector (XLK) | 19.7% | 44.3% |
Fundamental Drivers
The -21.7% change in NOVT stock from 12/22/2024 to 12/22/2025 was primarily driven by a -15.6% change in the company's Net Income Margin (%).| 12222024 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 153.50 | 120.24 | -21.67% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 922.75 | 960.31 | 4.07% |
| Net Income Margin (%) | 6.52% | 5.50% | -15.59% |
| P/E Multiple | 91.79 | 81.87 | -10.80% |
| Shares Outstanding (Mil) | 35.96 | 35.97 | -0.02% |
| Cumulative Contribution | -21.67% |
Market Drivers
12/22/2024 to 12/22/2025| Return | Correlation | |
|---|---|---|
| NOVT | -21.7% | |
| Market (SPY) | 16.9% | 66.1% |
| Sector (XLK) | 23.8% | 61.6% |
Fundamental Drivers
The -12.8% change in NOVT stock from 12/23/2022 to 12/22/2025 was primarily driven by a -36.2% change in the company's Net Income Margin (%).| 12232022 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 137.94 | 120.24 | -12.83% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 841.49 | 960.31 | 14.12% |
| Net Income Margin (%) | 8.62% | 5.50% | -36.19% |
| P/E Multiple | 67.94 | 81.87 | 20.51% |
| Shares Outstanding (Mil) | 35.73 | 35.97 | -0.67% |
| Cumulative Contribution | -12.84% |
Market Drivers
12/23/2023 to 12/22/2025| Return | Correlation | |
|---|---|---|
| NOVT | -28.7% | |
| Market (SPY) | 47.7% | 64.5% |
| Sector (XLK) | 52.9% | 58.0% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NOVT Return | 34% | 49% | -23% | 24% | -9% | -22% | 35% |
| Peers Return | 56% | -2% | -38% | 12% | 15% | 34% | 64% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 113% |
Monthly Win Rates [3] | |||||||
| NOVT Win Rate | 58% | 67% | 33% | 50% | 50% | 33% | |
| Peers Win Rate | 57% | 60% | 40% | 50% | 55% | 58% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| NOVT Max Drawdown | -24% | -0% | -37% | -12% | -11% | -35% | |
| Peers Max Drawdown | -35% | -17% | -48% | -18% | -18% | -33% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: COHR, IPGP, MKSI, TDY, CGNX. See NOVT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)
How Low Can It Go
| Event | NOVT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -38.6% | -25.4% |
| % Gain to Breakeven | 62.9% | 34.1% |
| Time to Breakeven | 378 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -31.8% | -33.9% |
| % Gain to Breakeven | 46.6% | 51.3% |
| Time to Breakeven | 47 days | 148 days |
| 2018 Correction | ||
| % Loss | -27.8% | -19.8% |
| % Gain to Breakeven | 38.5% | 24.7% |
| Time to Breakeven | 116 days | 120 days |
Compare to EMR, ACLS, FLUX, ROP, KEYS
In The Past
Novanta's stock fell -38.6% during the 2022 Inflation Shock from a high on 11/4/2021. A -38.6% loss requires a 62.9% gain to breakeven.
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Novanta Inc., together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures. It's Vision segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; visualization solutions; wireless technologies, video recorders, and video integration technologies for operating room integrations; optical data collection and machine vision technologies; radio frequency identification technologies; thermal chart recorders; spectrometry technologies; and embedded touch screen solutions. In addition, its Precision Motion segment offers optical and inductive encoders, precision motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, air bearings, and air bearing spindles. The company sells its products through its direct sales force, resellers, distributors, and system integrators under the Cambridge Technology, Synrad, Laser Quantum, ARGES, WOM, NDS, NDSsi, Med X Change, Reach Technology, JADAK, ThingMagic, Photo Research, Celera Motion, MicroE, Zettlex, Applimotion, Ingenia, and Westwind brands. The company was formerly known as GSI Group, Inc. and changed its name to Novanta Inc. in May 2016. Novanta Inc. was founded in 1968 and is headquartered in Bedford, Massachusetts.
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Here are 1-2 brief analogies for Novanta (NOVT):
- Intel for highly specialized industrial and medical technology components.
- A Carl Zeiss for precision industrial and medical optics and motion control.
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```html- Precision Motion Components: Provides highly precise electromechanical components and subsystems, including servo drives, motors, and air-bearing stages for critical industrial and medical applications.
- Photonics Products: Offers a range of laser products (CO2, ultrafast), optical components, and vision systems used in industrial processing, medical, and scientific fields.
- Medical & Robotic Solutions: Develops advanced components and robotic systems specifically for medical devices, surgical automation, and laboratory applications.
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Novanta (NOVT) primarily sells its advanced technology solutions to other companies, specifically Original Equipment Manufacturers (OEMs) across a diverse range of industries. The company's customer base is highly fragmented, with no single customer accounting for 10% or more of its consolidated revenue in recent fiscal years, as stated in its SEC filings.
Given the absence of individually named major customers representing a significant portion of revenue, Novanta's customer base can be described by the following categories of companies that integrate Novanta's products into their own offerings:
- Medical & Life Sciences OEMs: This category includes companies that design and manufacture a wide array of medical devices, diagnostic equipment, surgical systems, patient monitoring solutions, laboratory automation, and biotechnology instruments. These OEMs integrate Novanta's precision motion, vision, and laser products into their sophisticated healthcare technologies.
- Advanced Industrial OEMs: This category comprises companies manufacturing high-precision industrial equipment. These OEMs operate in sectors such as industrial automation, robotics, machine tools, material processing (e.g., laser cutting, welding, marking), quality inspection, and specialized manufacturing machinery. They utilize Novanta's components and subsystems to enhance the performance and capabilities of their industrial products.
Novanta's business model is focused on providing critical components and subsystems to these OEMs rather than selling finished products directly to end-users or individuals.
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Matthijs Glastra, Chair & Chief Executive Officer
Matthijs Glastra has served as Chair and Chief Executive Officer of Novanta Inc. since May 2021, and as Chief Executive Officer since September 2016. He joined Novanta in 2012 as Group President and was appointed Chief Operating Officer in 2015. Prior to Novanta, he spent 18 years at Philips, holding various leadership roles including Chief Executive Officer of Philips Entertainment Lighting and Chief Operating Officer of Philips Lumileds. He also served as Director of Corporate Strategy at Philips. He has experience leading and growing global technology businesses in advanced manufacturing and medical end-markets. Mr. Glastra also serves on the Board of Directors of IDEX Corporation.
Robert Buckley, Chief Financial Officer
Robert Buckley has been the Chief Financial Officer of Novanta Inc. since 2011. He has over two decades of experience in finance, corporate development, and investor relations. Before joining Novanta, he served as Chief Financial Officer and Vice President of PerkinElmer's Environmental Health business from 2008 to 2011, and Chief Financial Officer of PerkinElmer's Asian operations from 2005 to 2008. He also held various financial management roles at PerkinElmer and management positions at Georgeson & Co Inc and Honeywell International Inc.
John Burke, Chief Accounting Officer
John Burke has been the Chief Accounting Officer of Novanta Inc. since August 2024. Previously, he held positions at Novanta as Vice President of Global Accounting (2021-2024), Vice President of Accounting (2017-2021), and Assistant Corporate Controller (2011-2017). His prior experience includes working as the Manager of Technical Accounting and Reporting at MilliporeSigma and as an audit manager at PricewaterhouseCoopers LLP.
Sarah Betadam, Chief Information Officer; Chief Information Security Officer
Sarah Betadam has served as Chief Information Officer and Chief Information Security Officer of Novanta Inc. since 2021. Before this, she was the Senior Vice President of Global IT from 2020 to 2021 and Vice President of Business Applications from 2019 to 2020 at Novanta. Earlier in her career, she was the Director and Head of IT, Portfolio, and Program Management at Splunk Inc.
Chuck Ravetto, Co-Chief Operating Officer - Automation Enabling Technologies
Chuck Ravetto has been the Co-Chief Operating Officer of Novanta Inc. since 2022. He has held various executive and leadership roles in high-tech industrial and healthcare businesses, encompassing both hardware and software. His previous roles include Senior Vice President of Esko in Belgium and leading the KaVo Kerr dental business. He began his career at Videojet in engineering and product management leadership roles.
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Novanta (NOVT) faces several key business risks, primarily stemming from its high valuation and the need to meet ambitious growth targets amidst challenging market conditions, as well as the ongoing complexities of its acquisition-driven growth strategy and global trade dynamics. Here are the key risks to Novanta's business:- Failure to meet ambitious growth and profit margin forecasts amidst macroeconomic headwinds: Novanta's shares trade at a high valuation, demanding rapid earnings growth and margin improvement to justify its premium. There is a risk that profit margins or revenue expansion may not meet ambitious forecasts, particularly given the ongoing macroeconomic headwinds and a soft demand climate impacting segments like precision medicine, manufacturing, and robotics and automation, which have already seen a decline in organic sales.
- Risks associated with restructuring activities and the integration of acquisitions: Novanta's strategy involves compounding growth through acquisitions, and the successful integration of these new businesses is critical for achieving projected growth and margin expansion. The company is also undergoing ongoing restructuring efforts, including manufacturing regionalization, which have led to significant one-time charges and may continue to pressure financial results and potentially offset expected operational gains.
- Impact of global trade dynamics and persistent tariffs: Novanta is exposed to risks from global trade dynamics, including the potential for persistent higher tariffs. These tariffs pose a threat to margin expansion, and the company has also faced muted US export sales to China, adding another layer of risk to its international operations.
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The clear emerging threat for Novanta (NOVT) is the accelerating competitive pressure from highly capable, lower-cost suppliers, particularly from China, across its core technology markets including photonics, machine vision, and precision motion components. These emerging competitors, often benefiting from significant state backing and domestic market advantages, are rapidly closing the technological gap with established Western players. This trend leads to intensified pricing pressure, particularly in industrial and volume applications, and threatens to erode market share for Novanta by offering increasingly sophisticated products at a lower cost, thereby altering the traditional competitive landscape and value proposition in key segments.
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Novanta Inc. (NOVT) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives and market demand in its key sectors. The primary drivers include:
- New Product Launches and Innovation: Novanta anticipates a significant increase in revenue from its robust pipeline of new product introductions. The company planned over 50 major new product launches in 2024, a 50% increase from 2023, with even more scheduled for 2025. These new offerings are expected to generate over $50 million in incremental revenue in 2025 and are considered Novanta's strongest new product lineup in a decade. The company's Vitality Index, which measures revenue from new products, is also projected to climb in 2025 as these products gain traction.
- Strategic Acquisitions: Novanta is actively pursuing strategic acquisitions to expand its market presence and technology portfolio. The company has doubled its pipeline of potential acquisition targets, representing over $20 billion in potential revenue, and intends to close transactions in late 2024 and throughout 2025. Recent financial activities, such as a tangible equity units offering, are intended to provide flexibility for future acquisitions.
- Growth in Medical and Advanced Industrial Sectors: Novanta operates in the medical and advanced industrial technology markets, where it expects sustained demand for its precision photonic and motion-control components. Specific areas like minimally invasive surgery and robotics for surgery demonstrated strong growth in 2024. The company foresees a broader recovery in the medical market in 2025, which is anticipated to contribute to overall revenue expansion.
- Increased Design Wins: A key indicator of future revenue is the company's success in securing design wins with original equipment manufacturers (OEMs). Novanta reported double-digit growth in overall design wins in the first quarter of 2024 compared to the prior year, with a significant increase of over 40% in Q4 2024. This momentum in design wins is expected to support organic revenue growth in 2026.
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Share Repurchases
- Novanta's Board of Directors authorized an additional $200 million for share repurchases on September 18, 2025.
- This authorization adds to the $31 million remaining from a 2020 Board authorization, bringing the total capacity for repurchases to $231 million.
- The share repurchase program does not have a time limit and can be suspended or discontinued at any time.
Share Issuance
- On November 7, 2025, Novanta priced a public offering of 11 million tangible equity units at $50.00 each, expecting to raise approximately $550 million in gross proceeds.
- Each tangible equity unit is comprised of a prepaid stock purchase contract and a senior amortizing note due in 2028.
- In April 2020, Novanta issued a special one-time restricted stock unit grant to employees (excluding certain officers) with a total fair value of $14.4 million.
Outbound Investments
- Acquisitions are Novanta's primary capital allocation priority, with over $1.1 billion deployed across 20 transactions in the last 10 years.
- In 2024, Novanta completed the acquisition of Motion Solutions.
- On August 11, 2022, Novanta acquired MPH Medical Devices S.R.O. for approximately €21.8 million ($22.4 million).
Capital Expenditures
- Capital expenditures were -$14.20 million in the last 12 months.
- Historical capital expenditures were $17.16 million in 2020, $19.96 million in 2021, $21.11 million in 2022, and $22.18 million in 2023.
- Capital expenditures have remained relatively stable, reflecting consistent investment in property, plant, and equipment.
Latest Trefis Analyses
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| ARTICLES |
Trade Ideas
Select ideas related to NOVT. For more, see Trefis Trade Ideas.
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| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 16.1% | 16.1% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.7% | 16.7% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 12.8% | 12.8% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 7.8% | 7.8% | 0.0% |
| 03312018 | NOVT | Novanta | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 31.2% | 62.5% | -2.2% |
Research & Analysis
Invest in Strategies
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Peer Comparisons for Novanta
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 141.12 |
| Mkt Cap | 8.5 |
| Rev LTM | 2,401 |
| Op Inc LTM | 356 |
| FCF LTM | 158 |
| FCF 3Y Avg | 174 |
| CFO LTM | 374 |
| CFO 3Y Avg | 361 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.8% |
| Rev Chg 3Y Avg | 4.0% |
| Rev Chg Q | 8.9% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Mgn LTM | 13.4% |
| Op Mgn 3Y Avg | 13.2% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 15.1% |
| CFO/Rev 3Y Avg | 15.8% |
| FCF/Rev LTM | 12.3% |
| FCF/Rev 3Y Avg | 11.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 8.5 |
| P/S | 4.3 |
| P/EBIT | 37.6 |
| P/E | 68.8 |
| P/CFO | 27.0 |
| Total Yield | 1.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.6% |
| 3M Rtn | -0.7% |
| 6M Rtn | 17.3% |
| 12M Rtn | 7.0% |
| 3Y Rtn | 9.4% |
| 1M Excs Rtn | 6.8% |
| 3M Excs Rtn | -2.9% |
| 6M Excs Rtn | 1.8% |
| 12M Excs Rtn | -8.8% |
| 3Y Excs Rtn | -71.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Automation Enabling Technologies | 499 | ||||
| Medical Solutions | 382 | 278 | 262 | 262 | 271 |
| Precision Medicine and Manufacturing | 275 | 232 | 200 | 230 | |
| Robotics and Automation | 308 | 212 | 129 | 124 | |
| Total | 882 | 861 | 707 | 591 | 626 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Automation Enabling Technologies | 96 | ||||
| Medical Solutions | 63 | 28 | 18 | 16 | 21 |
| Unallocated costs | -49 | ||||
| Precision Medicine and Manufacturing | 64 | 47 | 34 | 42 | |
| Robotics and Automation | 60 | 53 | 32 | 22 | |
| Unallocated Corporate and Shared Services | -49 | -53 | -26 | -30 | |
| Total | 110 | 103 | 64 | 56 | 55 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Goodwill | 485 | 479 | 480 | 286 | 275 |
| Automation Enabling Technologies | 174 | ||||
| Intangible assets, net | 145 | 176 | 221 | 149 | 166 |
| Medical Solutions | 114 | 101 | 79 | 74 | 94 |
| Property, plant and equipment, net | 109 | 103 | 87 | 79 | 78 |
| Cash and cash equivalents | 105 | 100 | 117 | 125 | 79 |
| Operating lease assets | 38 | 43 | 48 | 34 | 35 |
| Deferred tax assets | 28 | 15 | 12 | 10 | 9 |
| Prepaid expenses and other current assets | 13 | 13 | 13 | 8 | 12 |
| Prepaid income taxes and income taxes receivable | 8 | 2 | 2 | 3 | 6 |
| Other assets | 6 | 4 | 6 | 3 | 3 |
| Precision Medicine and Manufacturing | 101 | 81 | 63 | 76 | |
| Robotics and Automation | 103 | 82 | 30 | 37 | |
| Total | 1,226 | 1,241 | 1,228 | 865 | 870 |
Price Behavior
Price Behavior
| Market Price | $120.24 | |
| Market Cap ($ Bil) | 4.3 | |
| First Trading Date | 05/12/2016 | |
| Distance from 52W High | -23.1% | |
| 50 Days | 200 Days | |
| DMA Price | $114.72 | $119.47 |
| DMA Trend | down | up |
| Distance from DMA | 4.8% | 0.6% |
| 3M | 1YR | |
| Volatility | 57.9% | 45.9% |
| Downside Capture | 257.68 | 187.12 |
| Upside Capture | 256.05 | 134.93 |
| Correlation (SPY) | 49.9% | 65.9% |
NOVT Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.97 | 2.47 | 2.49 | 2.52 | 1.56 | 1.58 |
| Up Beta | -0.58 | 0.84 | 1.56 | 2.61 | 1.47 | 1.55 |
| Down Beta | -1.28 | 2.84 | 2.49 | 2.48 | 1.50 | 1.47 |
| Up Capture | 401% | 361% | 264% | 228% | 168% | 334% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 11 | 27 | 34 | 62 | 116 | 370 |
| Down Capture | 449% | 241% | 276% | 250% | 142% | 110% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 15 | 29 | 63 | 132 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of NOVT With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| NOVT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -27.4% | 21.7% | 14.7% | 67.3% | 6.8% | -0.5% | -16.6% |
| Annualized Volatility | 45.9% | 27.8% | 19.7% | 19.3% | 15.2% | 17.6% | 35.4% |
| Sharpe Ratio | -0.56 | 0.69 | 0.57 | 2.54 | 0.23 | -0.18 | -0.25 |
| Correlation With Other Assets | 62.0% | 66.6% | -2.6% | 15.8% | 48.4% | 26.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of NOVT With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| NOVT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -0.5% | 19.4% | 15.0% | 18.9% | 11.8% | 5.1% | 35.8% |
| Annualized Volatility | 38.1% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.09 | 0.71 | 0.71 | 0.98 | 0.51 | 0.18 | 0.63 |
| Correlation With Other Assets | 61.1% | 64.9% | 8.1% | 12.2% | 51.6% | 28.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of NOVT With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| NOVT | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 24.3% | 22.4% | 14.9% | 14.9% | 6.7% | 5.5% | 69.9% |
| Annualized Volatility | 38.2% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.69 | 0.85 | 0.71 | 0.84 | 0.30 | 0.23 | 0.90 |
| Correlation With Other Assets | 61.2% | 62.8% | 4.8% | 18.9% | 47.2% | 20.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2025 | -4.8% | -23.5% | -13.6% |
| 8/5/2025 | -6.7% | -8.8% | -9.2% |
| 5/6/2025 | -1.9% | 9.7% | 5.5% |
| 2/25/2025 | 7.2% | 3.7% | -1.1% |
| 11/5/2024 | -5.5% | 2.6% | -2.2% |
| 8/6/2024 | 8.7% | 9.5% | 11.1% |
| 2/28/2024 | 6.4% | 7.9% | 10.5% |
| 11/7/2023 | -13.5% | -10.4% | 8.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 10 |
| # Negative | 11 | 9 | 12 |
| Median Positive | 5.1% | 7.9% | 8.3% |
| Median Negative | -4.9% | -8.1% | -4.2% |
| Max Positive | 8.7% | 10.9% | 23.5% |
| Max Negative | -13.5% | -23.5% | -15.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11032025 | 10-Q 9/26/2025 |
| 6302025 | 8052025 | 10-Q 6/27/2025 |
| 3312025 | 5062025 | 10-Q 3/28/2025 |
| 12312024 | 2252025 | 10-K 12/31/2024 |
| 9302024 | 11052024 | 10-Q 9/27/2024 |
| 6302024 | 8062024 | 10-Q 6/28/2024 |
| 3312024 | 5072024 | 10-Q 3/29/2024 |
| 12312023 | 2282024 | 10-K 12/31/2023 |
| 9302023 | 11072023 | 10-Q 9/29/2023 |
| 6302023 | 8082023 | 10-Q 6/30/2023 |
| 3312023 | 5092023 | 10-Q 3/31/2023 |
| 12312022 | 3012023 | 10-K 12/31/2022 |
| 9302022 | 11082022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 7/1/2022 |
| 3312022 | 5102022 | 10-Q 4/1/2022 |
| 12312021 | 3012022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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