Novanta (NOVT)
Market Price (4/15/2026): $128.83 | Market Cap: $4.9 BilSector: Information Technology | Industry: Electronic Equipment & Instruments
Novanta (NOVT)
Market Price (4/15/2026): $128.83Market Cap: $4.9 BilSector: Information TechnologyIndustry: Electronic Equipment & Instruments
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
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 -58%, 3Y Excs Rtn is -84% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.25, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 77x, P/EPrice/Earnings or Price/(Net Income) is 92x 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 -2.8% Key risksNOVT key risks include [1] the failure to meet ambitious growth and profit margin forecasts required to justify its high valuation, Show more. |
| 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 -58%, 3Y Excs Rtn is -84% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.25, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 77x, P/EPrice/Earnings or Price/(Net Income) is 92x |
| 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 -2.8% |
| Key risksNOVT key risks include [1] the failure to meet ambitious growth and profit margin forecasts required to justify its high valuation, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Exceeding Q4 2025 Earnings Expectations and Positive Outlook.
Novanta reported Q4 2025 adjusted diluted EPS of $0.91 on February 23, 2026, surpassing analysts' consensus estimates of $0.88 by $0.03. This represented a 20% increase in adjusted diluted EPS compared to the prior year. The company also demonstrated strong forward momentum, with customer bookings increasing by 25% and an overall book-to-bill ratio of 1.11x. Furthermore, Novanta issued positive guidance for fiscal year 2026, projecting EPS between $3.50 and $3.65, and set Q1 2026 guidance at $0.75 to $0.80 EPS.
2. Favorable Analyst Upgrades and Price Targets.
Multiple financial analysts issued positive revisions for Novanta's stock during the period. Wall Street Zen upgraded Novanta from a "hold" to a "buy" rating in a report on April 4, 2026. Additionally, Robert W. Baird raised its rating for Novanta from "neutral" to "outperform" on March 30, 2026, while adjusting its price target from $150.00 to $144.00. Zacks Research also improved its rating from "strong sell" to "hold" on January 16, 2026. The consensus analyst price targets for Novanta ranged from $144.00 to $157.00, indicating a substantial potential upside for the stock.
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Stock Movement Drivers
Fundamental Drivers
The 8.3% change in NOVT stock from 12/31/2025 to 4/14/2026 was primarily driven by a 13.3% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.99 | 128.85 | 8.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 960 | 981 | 2.1% |
| Net Income Margin (%) | 5.5% | 5.5% | -0.2% |
| P/E Multiple | 81.0 | 91.8 | 13.3% |
| Shares Outstanding (Mil) | 36 | 38 | -6.2% |
| Cumulative Contribution | 8.3% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOVT | 8.3% | |
| Market (SPY) | -5.4% | 43.5% |
| Sector (XLK) | 2.8% | 44.7% |
Fundamental Drivers
The 28.7% change in NOVT stock from 9/30/2025 to 4/14/2026 was primarily driven by a 56.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.15 | 128.85 | 28.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 957 | 981 | 2.5% |
| Net Income Margin (%) | 6.4% | 5.5% | -14.4% |
| P/E Multiple | 58.8 | 91.8 | 56.1% |
| Shares Outstanding (Mil) | 36 | 38 | -6.1% |
| Cumulative Contribution | 28.7% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOVT | 28.7% | |
| Market (SPY) | -2.9% | 47.4% |
| Sector (XLK) | 5.1% | 44.0% |
Fundamental Drivers
The 0.8% change in NOVT stock from 3/31/2025 to 4/14/2026 was primarily driven by a 27.9% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 127.87 | 128.85 | 0.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 949 | 981 | 3.3% |
| Net Income Margin (%) | 6.8% | 5.5% | -18.7% |
| P/E Multiple | 71.8 | 91.8 | 27.9% |
| Shares Outstanding (Mil) | 36 | 38 | -6.2% |
| Cumulative Contribution | 0.8% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOVT | 0.8% | |
| Market (SPY) | 16.3% | 63.5% |
| Sector (XLK) | 43.9% | 60.5% |
Fundamental Drivers
The -19.0% change in NOVT stock from 3/31/2023 to 4/14/2026 was primarily driven by a -36.2% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 159.09 | 128.85 | -19.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 861 | 981 | 13.9% |
| Net Income Margin (%) | 8.6% | 5.5% | -36.2% |
| P/E Multiple | 76.8 | 91.8 | 19.6% |
| Shares Outstanding (Mil) | 36 | 38 | -6.8% |
| Cumulative Contribution | -19.0% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOVT | -19.0% | |
| Market (SPY) | 63.3% | 58.7% |
| Sector (XLK) | 99.8% | 52.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NOVT Return | 49% | -23% | 24% | -9% | -22% | 5% | 6% |
| Peers Return | -2% | -38% | 12% | 15% | 32% | 58% | 63% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| NOVT Win Rate | 67% | 33% | 50% | 50% | 33% | 50% | |
| Peers Win Rate | 60% | 40% | 50% | 55% | 58% | 75% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NOVT Max Drawdown | -0% | -37% | -12% | -11% | -35% | -7% | |
| Peers Max Drawdown | -17% | -48% | -18% | -18% | -33% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[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] 2026 data is for the year up to 4/14/2026 (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 COHR, IPGP, MKSI, TDY, CGNX
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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About Novanta (NOVT)
AI Analysis | Feedback
Analogy 1: Novanta is like a specialized Analog Devices or Texas Instruments, providing the high-precision lasers, vision systems, and motion control components that go into advanced medical and industrial equipment.
Analogy 2: Think of them as a highly focused version of Bosch's industrial technology division, supplying critical, precision sub-systems to manufacturers of medical devices and industrial automation.
AI Analysis | Feedback
- Laser Scanning & Beam Delivery Solutions: Components and sub-systems for precisely guiding and manipulating laser beams in industrial and medical applications.
- Industrial & Medical Lasers: Various types of lasers, including CO2, solid-state, and ultrafast lasers, for processing, metrology, and medical procedures.
- Optical Light Engines: Integrated optical systems designed for specific applications such as imaging, DNA sequencing, and medical diagnostics.
- Medical Fluid Management Systems: Insufflators, pumps, and related disposables used for managing fluids and gases during medical procedures.
- Medical Visualization & OR Integration: Technologies including wireless systems, video recorders, and video integration solutions for operating room environments.
- Machine Vision & Optical Data Collection: Systems for automated optical inspection, data acquisition, and industrial machine vision applications.
- Radio Frequency Identification (RFID) Technologies: Solutions for tracking and identification purposes across various industries.
- Spectrometry & Data Recording: Technologies for analyzing light spectra and devices such as thermal chart recorders for data logging.
- Embedded Touch Screen Solutions: Integrated display technologies with touch input capabilities for various equipment.
- Precision Encoders: Optical and inductive devices for highly accurate position and motion sensing.
- Precision Motors & Motion Control: Motors, servo drives, and integrated motion control solutions for accurate and controlled movement.
- Robotic End-of-Arm Technology: Advanced components and solutions for the terminal part of robotic manipulators.
- Air Bearings & Spindles: High-precision, low-friction components enabling extremely accurate rotational and linear motion.
AI Analysis | Feedback
Novanta (NOVT) primarily sells its products to other companies, operating on a Business-to-Business (B2B) model. Based on the provided background information, the company's major customers are:
- Original Equipment Manufacturers (OEMs) in the medical market.
- Original Equipment Manufacturers (OEMs) in the industrial market.
The provided company description does not list specific names of these customer companies or their public symbols.
AI Analysis | Feedback
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Matthijs Glastra, Chair & Chief Executive Officer
Mr. Glastra has served as Novanta's Chief Executive Officer since September 1, 2016, and was appointed Chair of the Board of Directors on May 13, 2021. He joined Novanta in 2012 as Group President and became Chief Operating Officer in February 2015. Prior to Novanta, Mr. Glastra spent 18 years at Philips, where he led and grew global technology businesses in advanced manufacturing and medical markets. His roles at Philips included Chief Executive Officer of Philips' Entertainment Lighting and Chief Operating Officer of Philips Lumileds. He also held multiple general manager and leadership positions in various Philips divisions, including Healthcare, and served as Director of Corporate Strategy. Mr. Glastra began his career as a Product Manager of Computed Tomography in the Philips' Healthcare division in 1994.
Robert Buckley, Chief Financial Officer
Mr. Buckley has been the Chief Financial Officer of Novanta Inc. since March 31, 2011. He joined the company (then GSI) in February 2011 after a ten-year career at Revvity Inc. (formerly PerkinElmer), a life science and diagnostic company. At PerkinElmer, he held various financial positions of increasing responsibility, most recently serving as Vice President and Chief Financial Officer of Revvity's Environmental Health business. Before that, in 2005, he was Chief Financial Officer and Controller of PerkinElmer's operations in Asia, and held finance management roles within biopharmaceutical and optoelectronics business units. Earlier in his career, he served as Manager of Corporate Development at Honeywell, where he was responsible for financial analysis, business support, and process ownership for acquisition and divestiture activities.
John Lesica, Co-Chief Operating Officer
Mr. Lesica has served as Novanta's Co-Chief Operating Officer since January 2025, where he is responsible for the Medical Solutions segment and the company's enterprise-wide key account management program. Before joining Novanta, Mr. Lesica had a 22-year career with Thermo Fisher Scientific, where he led and grew innovation-driven businesses serving Pharma, Biotech, Clinical, Academic, and Industrial end markets in Europe and across the US. He most recently served as President of Thermo Fisher's Chromatography and Mass Spectrometry Division.
Chuck Ravetto, Group President, Automation Enabling Technologies Group
Mr. Ravetto joined Novanta in April 2022 as Group President of the Automation Enabling Technologies Group. Prior to Novanta, he had a career of over 20 years at Danaher Corporation, where he held various executive and leadership roles in high-tech industrial and healthcare businesses, spanning both hardware and software. His most recent role at Danaher was Senior Vice President of Esko in Belgium, which included software, automation, CTP imaging, and vision inspection systems businesses. Before Esko, he led the KaVo Kerr dental business, based in Germany.
Liam Weston, Chief Human Resources Officer
Mr. Weston was named Chief Human Resources Officer for Novanta in May 2025, having previously worked with Novanta in an advisory capacity since December 2024. Prior to joining Novanta, he founded a consultancy that provided fractional human resources leadership services, including talent management, culture, organizational design, and mergers and acquisition support. He has also served as CHRO at Creation Technologies, Hollingworth & Vose, Nortek, and Invensys.
AI Analysis | Feedback
Here are the key risks to Novanta Inc. (NOVT):
-
Macroeconomic Headwinds and Geopolitical Uncertainties
Novanta is significantly exposed to global macroeconomic and geopolitical uncertainties, which can lead to customer reluctance for capital investments and impact demand in its industrial and life sciences markets. This challenging environment has contributed to organic sales declines for the company. Furthermore, global trade disruptions, such as tariffs, have directly increased Novanta's manufacturing costs and continue to pose uncertainties. The risk of stagflation, a combination of slow economic growth and high inflation, exacerbated by geopolitical conflicts affecting energy supply, also presents a threat to corporate profits and consumer spending, impacting Novanta.
-
Supply Chain Vulnerabilities
The company faces vulnerabilities within its supply chain due to its reliance on a limited number of suppliers for certain raw materials, components, and parts. Significant disruptions in the supply chain could result in manufacturing delays, increased costs, and potential negative impacts on customer satisfaction and financial performance. Novanta has proactively addressed these risks by increasing inventory purchases and considering regionalization of manufacturing to mitigate potential tariff impacts.
-
Intense Competition and Rapid Technological Advancements
Novanta operates in highly competitive markets characterized by rapid technological advancements and evolving customer demands. To maintain its competitive edge, the company must continuously invest in technology and product development. There is an ongoing risk that competitors may introduce superior technologies or more cost-effective solutions, which could lead to an erosion of Novanta's market share and profitability. The competitive landscape includes both large, diversified industrial conglomerates and specialized technology firms across its various segments.
AI Analysis | Feedback
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AI Analysis | Feedback
Novanta Inc. operates in three main segments: Photonics, Vision, and Precision Motion, catering to global medical and industrial markets. The addressable market sizes for its key products and services are as follows:
Photonics Segment
- The global photonics market was estimated to be between USD 769 billion and USD 979.90 billion in 2024. This market is projected to grow to approximately USD 1,301.49 billion by 2030, with a compound annual growth rate (CAGR) of 4.8% from 2025 to 2030. Other estimates place the global photonics market at USD 892.7 billion in 2024, projected to reach USD 1,402.9 billion by 2033 (CAGR of 4.89% from 2025-2033), and USD 964.72 billion in 2024, projected to reach USD 1,671.24 billion by 2035 (CAGR of 5.12% from 2025-2035).
- For terrestrial laser scanning, a specific photonics application, the global market size was valued at USD 4.82 billion in 2024 and is expected to reach USD 9.10 billion by 2032, growing at a CAGR of 8.25%. Another report indicates a global market size of USD 3.8 billion in 2024, expected to reach USD 6.4 billion by 2033 (CAGR of 5.9% from 2025-2033).
- The global safety laser scanner market was valued at USD 436.7 million in 2021 and is projected to reach USD 849.6 million by 2031, with a CAGR of 6.9% from 2022 to 2031.
Vision Segment
- The global machine vision market size was estimated to be between USD 14.1 billion and USD 20.4 billion in 2024. This market is projected to reach USD 26.7 billion by 2033, with a CAGR of 6.97% from 2025 to 2033. Other projections suggest it could reach approximately USD 69.49 billion by 2034, expanding at a CAGR of 13.04% from 2025 to 2034.
- The global medical imaging market was valued at USD 40.33 billion in 2023 and is projected to reach USD 70.19 billion by 2032, growing at a CAGR of 6.4%. Another estimate places the global medical imaging market at USD 63.4 billion in 2024, expected to grow to USD 82.6 billion by the end of 2029 at a CAGR of 5.5%.
- The global insufflation devices market size was valued at USD 2.76 billion in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. Other data indicates a global market value of USD 2.3 billion in 2021, projected to reach USD 4.7 billion by the end of 2032, with a CAGR of 6.7%.
Precision Motion Segment
- The global encoder market size was approximately USD 2.9 billion to USD 3.1 billion in 2024. It is expected to reach USD 5.5 billion by 2033, with a CAGR of 7.18% during 2025-2033.
- The global motion control market was valued at approximately USD 20.3 billion in 2023. This market is estimated to grow at a CAGR of over 5.5% between 2024 and 2032. Another source indicates the global motion control market size was USD 16.47 billion in 2025 and is projected to grow to USD 27.85 billion by 2034, exhibiting a CAGR of 6.1%.
- The global precision motion control solutions market size is projected to reach USD 4.94 billion by 2029, with a CAGR of 4.5%.
AI Analysis | Feedback
Novanta (NOVT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Accelerated New Product Launches and Innovation: The company has demonstrated strong momentum in new product sales, with new product revenue growing significantly and the "vitality index" (percentage of sales from new products) reaching 24% in the fourth quarter of 2025. This focus on innovation and bringing new solutions to market is anticipated to continue contributing to organic growth.
- Strategic Acquisitions: Acquisitions remain a top capital allocation priority for Novanta, with a substantial acquisition pipeline and nearly $1.5 billion in total acquisition capacity. These strategic integrations, particularly in medical technologies, medical consumables, bioprocessing, and embedded software, are expected to drive double-digit reported revenue growth and expand the company's market reach and technological offerings.
- Growth in Medical End Markets: Novanta anticipates robust growth in its medical end markets, particularly within advanced surgery and medical consumables. The advanced surgery business is projected to nearly double by 2030 from its 2024 levels, driven by demand for minimally invasive surgical equipment and successful new product launches like next-generation insufflators, which exhibit high attachment rates.
- Expansion in AI-driven Robotics and Automation: Novanta is strategically investing in and expanding its presence in AI-driven robotics and automation. The company expects physical AI applications in robotics to experience significant sales growth, with projections to double in 2026 versus 2025 and again in 2027. This focus leverages the growing demand for intelligent automation across various industries.
AI Analysis | Feedback
Share Repurchases
- In September 2025, Novanta's Board of Directors authorized an additional $200 million for share repurchases, increasing the total available capacity to $231 million, which includes $31 million remaining from a 2020 authorization.
- The company repurchased nearly $40 million in shares during the full year 2025.
- Specifically, $19 million in stock was repurchased during the fourth quarter of 2025.
Share Issuance
- In November 2025, Novanta priced a public offering of 11 million tangible equity units at $50.00 per unit, with net proceeds of approximately $533 million (or $613.2 million if the over-allotment option was fully exercised).
- This issuance, totaling $613.1 million in net proceeds from 12,650,000 tangible equity units, was primarily aimed at strengthening the balance sheet and repaying $317 million in revolving credit debt.
Outbound Investments
- Novanta acquired Motion Solutions for $189 million in November 2023.
- In August 2021, the company acquired ATI Industrial Automation for $172 million, and in July 2021, it acquired imshome.com for $115 million.
- Novanta also acquired Keonn Technologies for $75.1 million in 2025, expanding its RFID capabilities within the Medical Solutions segment. The company maintains a robust acquisition pipeline with nearly $1.5 billion in total acquisition capacity and prioritizes attractive acquisition opportunities.
Capital Expenditures
- Novanta's capital expenditures for the full year 2025 were approximately $15.6 million.
- For the fourth quarter of 2025, capital expenditures were $3.7 million.
- The company continues to make investments to fund long-term organic growth initiatives.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 201.50 |
| Mkt Cap | 13.9 |
| Rev LTM | 2,467 |
| Op Inc LTM | 364 |
| FCF LTM | 143 |
| FCF 3Y Avg | 140 |
| CFO LTM | 321 |
| CFO 3Y Avg | 352 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 3.7% |
| Rev Chg Q | 10.2% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Mgn LTM | 13.1% |
| Op Mgn 3Y Avg | 13.1% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 12.0% |
| CFO/Rev 3Y Avg | 15.7% |
| FCF/Rev LTM | 8.8% |
| FCF/Rev 3Y Avg | 10.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.9 |
| P/S | 5.1 |
| P/EBIT | 49.8 |
| P/E | 86.5 |
| P/CFO | 53.8 |
| Total Yield | 1.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 14.1% |
| 3M Rtn | 41.2% |
| 6M Rtn | 36.6% |
| 12M Rtn | 128.9% |
| 3Y Rtn | 31.5% |
| 1M Excs Rtn | 9.0% |
| 3M Excs Rtn | 44.5% |
| 6M Excs Rtn | 39.3% |
| 12M Excs Rtn | 105.1% |
| 3Y Excs Rtn | -34.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automation Enabling Technologies | 491 | 499 | |||
| Medical Solutions | 459 | 382 | 278 | 262 | 262 |
| Precision Medicine and Manufacturing | 275 | 232 | 200 | ||
| Robotics and Automation | 308 | 212 | 129 | ||
| Total | 949 | 882 | 861 | 707 | 591 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automation Enabling Technologies | 106 | 96 | |||
| Medical Solutions | 58 | 63 | 28 | 18 | 16 |
| Unallocated costs | -53 | -49 | |||
| Precision Medicine and Manufacturing | 64 | 47 | 34 | ||
| Robotics and Automation | 60 | 53 | 32 | ||
| Unallocated Corporate and Shared Services | -49 | -53 | -26 | ||
| Total | 111 | 110 | 103 | 64 | 56 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Goodwill | 584 | 485 | 479 | 480 | 286 |
| Intangible assets, net | 186 | 145 | 176 | 221 | 149 |
| Automation Enabling Technologies | 160 | 174 | |||
| Medical Solutions | 136 | 114 | 101 | 79 | 74 |
| Cash and cash equivalents | 114 | 105 | 100 | 117 | 125 |
| Property, plant and equipment, net | 113 | 109 | 103 | 87 | 79 |
| Operating lease assets | 43 | 38 | 43 | 48 | 34 |
| Deferred tax assets | 23 | 28 | 15 | 12 | 10 |
| Prepaid expenses and other current assets | 16 | 13 | 13 | 13 | 8 |
| Prepaid income taxes and income taxes receivable | 8 | 8 | 2 | 2 | 3 |
| Other assets | 6 | 6 | 4 | 6 | 3 |
| Precision Medicine and Manufacturing | 101 | 81 | 63 | ||
| Robotics and Automation | 103 | 82 | 30 | ||
| Total | 1,389 | 1,226 | 1,241 | 1,228 | 865 |
Price Behavior
| Market Price | $128.85 | |
| Market Cap ($ Bil) | 4.9 | |
| First Trading Date | 05/12/2016 | |
| Distance from 52W High | -12.0% | |
| 50 Days | 200 Days | |
| DMA Price | $129.40 | $121.30 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -0.4% | 6.2% |
| 3M | 1YR | |
| Volatility | 43.4% | 46.1% |
| Downside Capture | 0.59 | 1.04 |
| Upside Capture | 163.31 | 166.11 |
| Correlation (SPY) | 43.9% | 51.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.57 | 1.41 | 1.69 | 1.98 | 1.68 | 1.58 |
| Up Beta | -2.98 | 0.42 | 2.30 | 1.43 | 1.53 | 1.56 |
| Down Beta | 1.60 | 1.30 | 1.74 | 2.28 | 1.73 | 1.52 |
| Up Capture | 189% | 142% | 181% | 298% | 226% | 295% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 17 | 28 | 69 | 123 | 370 |
| Down Capture | 187% | 166% | 131% | 151% | 146% | 111% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 25 | 35 | 57 | 128 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOVT | |
|---|---|---|---|---|
| NOVT | 19.8% | 46.0% | 0.54 | - |
| Sector ETF (XLK) | 53.2% | 21.1% | 1.92 | 48.2% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 52.4% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | 3.8% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | 4.8% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 37.4% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 26.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOVT | |
|---|---|---|---|---|
| NOVT | -0.2% | 39.1% | 0.10 | - |
| Sector ETF (XLK) | 17.3% | 24.7% | 0.63 | 59.9% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 63.4% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 10.4% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 12.8% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 51.8% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 25.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOVT | |
|---|---|---|---|---|
| NOVT | 24.4% | 38.5% | 0.69 | - |
| Sector ETF (XLK) | 22.3% | 24.3% | 0.84 | 60.5% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 62.1% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 6.6% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 19.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 47.0% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 18.5% |
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 |
| 2/23/2026 | -3.5% | -1.2% | -16.1% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 10 |
| # Negative | 12 | 10 | 12 |
| Median Positive | 4.6% | 7.9% | 8.3% |
| Median Negative | -4.9% | -7.3% | -4.2% |
| Max Positive | 8.7% | 10.9% | 23.5% |
| Max Negative | -13.5% | -23.5% | -16.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 250.00 Mil | 252.50 Mil | 255.00 Mil | -1.0% | Lower New | Actual: 255.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | 56.00 Mil | 57.00 Mil | 58.00 Mil | -10.2% | Lower New | Actual: 63.50 Mil for Q4 2025 | |
| Q1 2026 Adjusted Diluted EPS | 0.75 | 0.78 | 0.8 | -13.9% | Lower New | Actual: 0.9 for Q4 2025 | |
| 2026 Revenue | 1.03 Bil | 1.04 Bil | 1.05 Bil | 6.4% | Higher New | Actual: 977.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | 245.00 Mil | 247.50 Mil | 250.00 Mil | 10.7% | Higher New | Actual: 223.50 Mil for 2025 | |
| 2026 Adjusted Diluted EPS | 3.5 | 3.58 | 3.65 | 9.3% | Higher New | Actual: 3.27 for 2025 | |
| 2026 Operating Cash Flow | 145.00 Mil | 165.00 Mil | 185.00 Mil | ||||
| 2026 Organic Revenue Growth | 5.0% | ||||||
Prior: Q3 2025 Earnings Reported 11/3/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 253.00 Mil | 255.00 Mil | 257.00 Mil | ||||
| Q4 2025 Adjusted EBITDA | 62.00 Mil | 63.50 Mil | 65.00 Mil | ||||
| Q4 2025 Adjusted Diluted EPS | 0.87 | 0.9 | 0.93 | ||||
| 2025 Revenue | 975.00 Mil | 977.00 Mil | 979.00 Mil | -0.1% | Lowered | Guidance: 977.50 Mil for 2025 | |
| 2025 Adjusted EBITDA | 222.00 Mil | 223.50 Mil | 225.00 Mil | -1.8% | Lowered | Guidance: 227.50 Mil for 2025 | |
| 2025 Adjusted Diluted EPS | 3.24 | 3.27 | 3.3 | -0.6% | Lowered | Guidance: 3.29 for 2025 | |
| 2026 Organic Revenue Growth | 5.0% | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Secor, Thomas N | Direct | Sell | 12232025 | 120.16 | 747 | Form | |||
| 2 | Secor, Thomas N | Direct | Sell | 12172025 | 119.67 | 748 | 89,513 | 89,393 | Form | |
| 3 | Glastra, Matthijs | Chief Executive Officer | Direct | Sell | 1132026 | 130.00 | 6,177 | 803,010 | 10,252,710 | Form |
| 4 | Glastra, Matthijs | Chief Executive Officer | Direct | Sell | 1122026 | 130.14 | 323 | 42,035 | 11,067,626 | Form |
| 5 | Buckley, Robert | Chief Financial Officer | Direct | Sell | 1232026 | 140.14 | 1,423 | 199,424 | 12,757,823 | Form |
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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