Tearsheet

NovoCure (NVCR)

Market Price (10/31/2025): $13.25 | Market Cap: $1.5 Bil
Sector: Health Care | Industry: Life Sciences Tools & Services

NovoCure (NVCR)

Market Price (10/31/2025): $13.25
Market Cap: $1.5 Bil
Sector: Health Care
Industry: Life Sciences Tools & Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%	Weak multi-year price returns 2Y Excs Rtn is -66%, 3Y Excs Rtn is -158%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -173 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -27%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%		Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13%
2			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16%

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%
2	Weak multi-year price returns 2Y Excs Rtn is -66%, 3Y Excs Rtn is -158%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -173 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -27%
4	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -13%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -16%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022	2021
Share Price CYE	$13.25	$29.80	$14.93	$73.35	$75.08
Market Cap CYE ($ Bil)	1.5	3.2	1.6	7.7	7.8
Total Debt ($ Bil)	0.7	0.7	0.6	0.6	0.6
Total Cash ($ Bil)	0.9	1.0	0.9	1.0	0.9
Enterprise Value ($ Bil)	1.3	3.9	2.2	8.3	8.4
Valuation Ratios
P/S TTM	2.4	5.3	3.1	14.3	14.5
P/EBIT TTM	-12.0	-26.6	-8.4	-97.8	-159.7
P/E TTM	-8.7	-19.1	-7.7	-83.0	-133.1
Sector Ratios
P/S TTM (Sector)	4.0	3.5	4.0	4.5	7.3
P/EBIT TTM (Sector)	-1.6	-1.3	-1.4	-1.3	-2.7
P/E TTM (Sector)	-2.0	-1.5	-1.5	-1.3	-2.8

	10/31/25	2024	2023
Share Price CYE	$13.25	$29.80	$14.93
Market Cap CYE ($ Bil)	1.5	3.2	1.6
Total Debt ($ Bil)	0.7	0.7	0.6
Total Cash ($ Bil)	0.9	1.0	0.9
Enterprise Value ($ Bil)	1.3	3.9	2.2
Valuation Ratios
P/S TTM	2.4	5.3	3.1
P/EBIT TTM	-12.0	-26.6	-8.4
P/E TTM	-8.7	-19.1	-7.7
Sector Ratios
P/S TTM (Sector)	4.0	3.5	4.0
P/EBIT TTM (Sector)	-1.6	-1.3	-1.4
P/E TTM (Sector)	-2.0	-1.5	-1.5

	NVCR	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	0.6
Rev Chg Q	5.6%	6.4%
Rev Chg LTM	14.6%	5.4%
Rev Chg 3Y Avg	5.3%	5.3%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.2
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.2
Op Mgn LTM	-27.4%	18.7%
CFO/Rev LTM	-7.1%	20.4%
Net Inc Mgn	-27.1%	12.8%
VALUATION	MODERATE
P/S	2.3	3.2
P/CFO	-33.1	15.5
P/FCF	-18.4	20.6
P/E	-8.6	23.6
STABILITY	VERY GOOD
Debt/Equity	0.47	0.21
Cash/Assets	0.73	0.07

NVCR Stock

Return (1M):

Factor Drivers of Stock Movement

The 10.8% change in NVCR stock from 7/31/2025 to 10/30/2025 was primarily driven by a 10.8% change in the company's P/S Multiple.

	7312025	10302025	Change
Stock Price ($)	11.57	12.82	10.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	630.16	630.16	0.00%
P/S Multiple	2.05	2.27	10.80%
Shares Outstanding (Mil)	111.57	111.57	0.00%
Cumulative Contribution			10.80%

LTM = Last Twelve Months as of date shown

The -28.6% change in NVCR stock from 5/1/2025 to 10/30/2025 was primarily driven by a -28.7% change in the company's P/S Multiple.

	5012025	10302025	Change
Stock Price ($)	17.95	12.82	-28.58%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	621.71	630.16	1.36%
P/S Multiple	3.18	2.27	-28.71%
Shares Outstanding (Mil)	110.28	111.57	-1.17%
Cumulative Contribution			-28.59%

LTM = Last Twelve Months as of date shown

The -24.5% change in NVCR stock from 10/30/2024 to 10/30/2025 was primarily driven by a -28.7% change in the company's P/S Multiple.

	10302024	10302025	Change
Stock Price ($)	16.99	12.82	-24.54%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	577.74	630.16	9.07%
P/S Multiple	3.18	2.27	-28.70%
Shares Outstanding (Mil)	108.25	111.57	-3.07%
Cumulative Contribution			-24.62%

LTM = Last Twelve Months as of date shown

The -81.9% change in NVCR stock from 10/31/2022 to 10/30/2025 was primarily driven by a -83.4% change in the company's P/S Multiple.

	10312022	10302025	Change
Stock Price ($)	70.66	12.82	-81.86%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	542.62	630.16	16.13%
P/S Multiple	13.66	2.27	-83.38%
Shares Outstanding (Mil)	104.88	111.57	-6.38%
Cumulative Contribution			-81.93%

LTM = Last Twelve Months as of date shown

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NVCR Return	105%	-57%	-2%	-80%	100%	-57%	-84%
Peers Return	9%	9%	-18%	-11%	-6%	-53%	-62%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
NVCR Win Rate	58%	17%	42%	33%	50%	44%
Peers Win Rate	13%	17%	13%	17%	45%	40%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
NVCR Max Drawdown	-32%	-57%	-25%	-85%	-21%	-63%
Peers Max Drawdown	-4%	-1%	-21%	-17%	-9%	-78%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: SNSE, BDMD, PTHL, WOK, TMO. See NVCR 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 10/30/2025 (YTD)

How Low Can It Go

Unique Key	Event	NVCR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-95.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	1926.8%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-40.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	67.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	175 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-45.4%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	83.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	87 days	120 days

Compare to SNSE, BDMD, PTHL, WOK, TMO

In The Past

NovoCure's stock fell -95.1% during the 2022 Inflation Shock from a high on 6/23/2021. A -95.1% loss requires a 1926.8% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About NovoCure (NVCR)

Business Description

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields (TTFields) devices for use as a monotherapy treatment for adult patients with glioblastoma. It is also developing products for brain metastases, non-small cell lung cancer, pancreatic cancer, gastric cancer, ovarian cancer, liver cancer, and malignant pleural mesothelioma. The company markets its products in the European Union, the United Kingdom, Japan, and internationally. It has a clinical study collaboration agreement with MSD to study TTFields together with KEYNOTE, an anti-PD-1 therapy; and a strategic collaboration with Zai Lab (Shanghai) Co., Ltd. to commercialize its products in Greater China and establishes a development partnership intended to accelerate the development of TTFields in multiple solid tumor cancer indications. NovoCure Limited was incorporated in 2000 and is based in Saint Helier, Jersey.

Better Bets than NovoCure (NVCR)

	NVCR	Better Performance than NVCR
Metric	Value	Industry (Life Sciences Tools & Services)
Rev Chg LTM	14.6%	NTRA (44.4%), GH (30.4%), IRTC (22.4%), WGS (50.5%), GRAL (22.4%)
Rev Chg 3Y Avg	5.3%	NTRA (39.7%), MEDP (19.9%), EXAS (14.9%), GH (28.0%), IRTC (22.1%)
Op Mgn LTM	-27.4%	TMO (18.2%), DHR (19.0%), A (21.3%), IQV (14.2%), MTD (28.4%)
CFO/Rev LTM	-7.1%	TMO (17.5%), DHR (26.0%), A (22.0%), IQV (17.6%), MTD (24.6%)
FCF/Rev LTM	-12.8%	TMO (14.3%), DHR (20.7%), A (16.0%), IQV (13.9%), MTD (21.9%)
Total Yield	-12.0%	TMO (3.1%), DHR (2.3%), A (3.7%), IQV (3.5%), MTD (2.9%)

	NVCR	Better Performance than NVCR
Metric	Value	Sector (Health Care)
Rev Chg LTM	14.6%	LLY (36.8%), ISRG (22.2%), BSX (21.4%), MCK (20.3%), CI (24.6%)
Rev Chg 3Y Avg	5.3%	LLY (23.4%), JNJ (6.1%), UNH (11.4%), ISRG (16.3%), AMGN (10.0%)
Op Mgn LTM	-27.4%	LLY (43.0%), JNJ (26.2%), ABBV (23.5%), UNH (6.1%), ABT (17.6%)
CFO/Rev LTM	-7.1%	LLY (20.5%), JNJ (26.3%), ABBV (33.1%), UNH (4.8%), ABT (20.8%)
FCF/Rev LTM	-12.8%	LLY (-0.1%), JNJ (20.3%), ABBV (31.3%), UNH (4.0%), ABT (15.8%)
Total Yield	-12.0%	LLY (2.5%), JNJ (8.2%), ABBV (3.7%), UNH (8.1%), ABT (8.3%)

	NVCR	Better Performance than NVCR
Metric	Value	All Other Sectors
Rev Chg LTM	14.6%	NVDA (71.6%), MSFT (15.6%), AVGO (28.0%), META (21.3%), NFLX (15.4%)
Rev Chg 3Y Avg	5.3%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AMZN (11.3%), AVGO (24.0%)
Op Mgn LTM	-27.4%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
CFO/Rev LTM	-7.1%	NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AMZN (18.1%)
FCF/Rev LTM	-12.8%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	-12.0%	NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)

		Best Bets In Health Care Sector
	NVCR	RPRX	HALO	CPRX	BMY	LNTH	PBH	BIIB	PFE	EW	ILMN
What You Pay
P/E	-8.4	15.3	14.1	12.3	15.4	14.0	14.0	13.6	12.8	11.8	12.4
P/EBIT	-11.6	8.1	11.0	10.5	9.3	9.6	9.0	10.1	10.3	29.2	10.3
What You Get
Rev Chg Q	5.6%	7.7%	40.8%	19.4%	2.8%	-4.1%	-6.6%	2.8%	10.3%	11.9%	-4.8%
Rev Chg LTM	14.6%	3.0%	35.0%	28.5%	1.3%	5.7%	0.6%	4.8%	13.5%	9.1%	-3.3%
Rev Chg 3Y Avg	5.3%	0.8%	35.5%	49.9%	1.0%	34.3%	0.8%	-0.9%	-12.4%	3.0%	-3.0%
FCF/Rev 3Y Avg	-13.6%	113.4%	43.4%	38.9%	29.0%	26.1%	21.6%	17.0%	13.8%	11.9%	9.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	NovoCure Stock Fell 8.3% in a Month, What Now?	Return
2	Day 5 of Loss Streak for NovoCure Stock with -34% Return (vs. -63% YTD) [7/30/2025]	Notification
3	NVCR Dip Buy Analysis
4	NovoCure (NVCR) Stock: 38% of days in last 3 months had 1% or greater fluctuation
5	NovoCure (NVCR) Operating Cash Flow Comparison	Financials
6	NovoCure (NVCR) Net Income Comparison	Financials
7	NovoCure (NVCR) Operating Income Comparison	Financials
8	NovoCure (NVCR) Revenue Comparison	Financials
9	NovoCure vs. S&P500 Correlation	Correlation
10	NovoCure Price Volatility	Volatility
11	ARTICLES
12	NVCR Stock Down -34% after 5-Day Loss Streak		July 31st, 2025
13	Stocks Trading At 52-Week Low		July 29th, 2025
14	Market Movers \| Winners: BE, WST, ICLR \| Losers: CYH, NVCR, IRDM		July 25th, 2025
15	Will Novocure Stock Rebound After A Large 22% Fall In A Month?		November 24th, 2021
16	What’s Next For Novocure Stock?		April 14th, 2021

	Title
0	DASHBOARDS
1	NVCR Stock Down -34% after 5-Day Loss Streak
2	Stocks Trading At 52-Week Low
3	Market Movers \| Winners: BE, WST, ICLR \| Losers: CYH, NVCR, IRDM
4	Will Novocure Stock Rebound After A Large 22% Fall In A Month?
5	What’s Next For Novocure Stock?
6	ARTICLES
7	NovoCure Stock Fell 8.3% in a Month, What Now?
8	Day 5 of Loss Streak for NovoCure Stock with -34% Return (vs. -63% YTD) [7/30/2025]
9	NVCR Dip Buy Analysis
10	NovoCure (NVCR) Stock: 38% of days in last 3 months had 1% or greater fluctuation
11	NovoCure (NVCR) Operating Cash Flow Comparison
12	NovoCure (NVCR) Net Income Comparison
13	NovoCure (NVCR) Operating Income Comparison
14	NovoCure (NVCR) Revenue Comparison
15	NovoCure vs. S&P500 Correlation
16	NovoCure Price Volatility

Trade Ideas

Select past ideas related to NVCR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy	09302025	ADMA	ADMA Biologics	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.2%	4.2%	-4.6%
REGN_9302025_Dip_Buyer_ValueBuy	09302025	REGN	Regeneron Pharmaceuticals	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	16.3%	16.3%	-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	09262025	HAE	Haemonetics	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.8%	3.8%	-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper	09192025	WAT	Waters	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	14.0%	14.0%	-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper	09052025	ISRG	Intuitive Surgical	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	13.5%	13.5%	-8.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy	09302025	ADMA	ADMA Biologics	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.2%	4.2%	-4.6%
REGN_9302025_Dip_Buyer_ValueBuy	09302025	REGN	Regeneron Pharmaceuticals	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	16.3%	16.3%	-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	09262025	HAE	Haemonetics	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.8%	3.8%	-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper	09192025	WAT	Waters	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	14.0%	14.0%	-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper	09052025	ISRG	Intuitive Surgical	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	13.5%	13.5%	-8.0%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for NovoCure

Financials

	NVCR	SNSE	BDMD	PTHL	WOK	TMO	Median
Name	NovoCure	Sensei B.	Baird Me.	Pheton	WORK Med.	Thermo F.
Mkt Price	12.82	9.46	1.40	0.63	3.76	556.22	6.61
Mkt Cap	1.4	0.0	-	-	-	210.3	1.4
Rev LTM	630	0	-	-	-	43,211	630
Op Inc LTM	-173	-28	-	-	-	7,860	-28
FCF LTM	-80	-24	-	-	-	6,170	-24
FCF 3Y Avg	-77	-29	-	-	-	6,662	-29
CFO LTM	-45	-24	-	-	-	7,578	-24
CFO 3Y Avg	-44	-29	-	-	-	8,206	-29

Growth & Margins

	NVCR	SNSE	BDMD	PTHL	WOK	TMO	Median
Name	NovoCure	Sensei B.	Baird Me.	Pheton	WORK Med.	Thermo F.
Rev Chg LTM	14.6%	-	-	-	-	2.0%	8.3%
Rev Chg 3Y Avg	5.3%	-	-	-	-	0.3%	2.8%
Rev Chg Q	5.6%	-	-	-	-	3.0%	4.3%
QoQ Delta Rev Chg LTM	1.4%	-	-	-	-	0.7%	1.0%
Op Mgn LTM	-27.4%	-	-	-	-	18.2%	-4.6%
Op Mgn 3Y Avg	-32.9%	-	-	-	-	17.4%	-7.7%
QoQ Delta Op Mgn LTM	-0.6%	-	-	-	-	-0.1%	-0.3%
CFO/Rev LTM	-7.1%	-	-	-	-	17.5%	5.2%
CFO/Rev 3Y Avg	-7.8%	-	-	-	-	19.1%	5.6%
FCF/Rev LTM	-12.8%	-	-	-	-	14.3%	0.8%
FCF/Rev 3Y Avg	-13.6%	-	-	-	-	15.5%	1.0%

Valuation

	NVCR	SNSE	BDMD	PTHL	WOK	TMO	Median
Name	NovoCure	Sensei B.	Baird Me.	Pheton	WORK Med.	Thermo F.
Mkt Cap	1.4	0.0	-	-	-	210.3	1.4
P/S	2.3	-	-	-	-	4.9	3.6
P/EBIT	-11.6	-0.4	-	-	-	25.1	-0.4
P/E	-8.4	-0.4	-	-	-	31.9	-0.4
P/CFO	-32.0	-0.5	-	-	-	27.7	-0.5
Total Yield	-12.0%	-224.9%	-	-	-	3.1%	-12.0%
Dividend Yield	0.0%	0.0%	-	-	-	0.0%	0.0%
FCF Yield 3Y Avg	-3.6%	-1,847.4%	-	-	-	3.6%	-3.6%
D/E	0.5	0.2	-	-	-	0.2	0.2
Net D/E	-0.1	-2.2	-	-	-	0.1	-0.1

Returns

	NVCR	SNSE	BDMD	PTHL	WOK	TMO	Median
Name	NovoCure	Sensei B.	Baird Me.	Pheton	WORK Med.	Thermo F.
1M Rtn	-0.8%	0.1%	-34.0%	-19.5%	-49.8%	14.7%	-10.1%
3M Rtn	10.8%	26.4%	-31.4%	-29.6%	-95.2%	19.0%	-9.4%
6M Rtn	-28.6%	18.3%	-74.8%	-83.7%	-90.8%	32.7%	-51.7%
12M Rtn	-24.5%	-17.2%	-49.1%	-85.1%	-99.4%	1.4%	-36.8%
3Y Rtn	-81.9%	-67.4%	-	-	-	9.2%	-67.4%
1M Excs Rtn	-10.0%	-5.2%	-36.2%	-21.6%	-53.5%	3.1%	-15.8%
3M Excs Rtn	3.9%	-17.8%	-36.1%	-32.0%	-104.5%	10.9%	-24.9%
6M Excs Rtn	-50.3%	-3.4%	-96.5%	-105.5%	-112.6%	11.0%	-73.4%
12M Excs Rtn	-40.0%	-37.6%	-70.5%	-103.6%	-116.6%	-16.1%	-55.3%
3Y Excs Rtn	-157.6%	-145.3%	-	-	-	-67.8%	-145.3%

Comparison Analyses

	Title
0	Novocure Limited vs. BeiGene: With Return Forecast Of 84%, Novocure Limited Is A Better Bet
1	Novocure Limited vs. Zillow: With Return Forecast Of 93%, Novocure Limited Is A Better Bet
2	Novocure Limited vs. Hubbell: With Return Forecast Of 93%, Novocure Limited Is A Better Bet
3	Novocure Limited vs. American Airlines: With Return Forecast Of 93%, Novocure Limited Is A Better Bet
4	Novocure Limited vs. AGCO: With Return Forecast Of 66%, Novocure Limited Is A Better Bet
5	Novocure Limited vs. Teva Pharmaceutical Industries: With Return Forecast Of 66%, Novocure Limited Is A Better Bet
6	Novocure Limited vs. A.O. Smith: With Return Forecast Of 66%, Novocure Limited Is A Better Bet
7	Novocure Limited vs. Lamb Weston: With Return Forecast Of 112%, Novocure Limited Is A Better Bet
8	Novocure Limited vs. Allegion: With Return Forecast Of 112%, Novocure Limited Is A Better Bet
9	Novocure Limited vs. Royal Gold: With Return Forecast Of 112%, Novocure Limited Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	7/24/2025	2/27/2025	2/22/2024	2/23/2023	2/24/2022	2/25/2021	2/27/2020
Key Financials
Total Revenue	630	605	509	538	535	494	351
EBITDA	-111	-110	-177	-68	-38	45	14
Operating Income	-173	-170	-233	-90	-44	30	-1
Net Income	-171	-169	-207	-93	-58	20	-7
EPS	-1.56	-1.56	-1.95	-0.88	-0.56	0.20	-0.07
Growth Rates
Total Revenue Growth	14.6%	18.8%	-5.3%	0.5%	8.2%	40.7%	41.6%
EBITDA Growth	14.4%	38.2%	-161.4%	-76.9%	-185.6%	231.9%	165.4%
Operating Income Growth	6.6%	26.8%	-160.1%	-101.9%	-245.8%	3426.1%	97.3%
Net Income Growth	-1.3%	18.6%	-123.7%	-58.6%	-394.6%	374.0%	88.6%
Margins
EBITDA Margin	-17.6%	-18.1%	-34.8%	-12.6%	-7.2%	9.1%	3.8%
Operating Income Margin	-27.4%	-28.2%	-45.7%	-16.6%	-8.3%	6.1%	-0.3%
Net Income Margin	-27.1%	-27.9%	-40.6%	-17.2%	-10.9%	4.0%	-2.1%
Cash & Debt
Total Cash	912	960	911	969	938	843	326
Total Debt	700	683	605	584	575	444	164
Net Debt / (Cash)	-211	-277	-306	-385	-362	-398	-163
Cash Flows
Net Cash from Operations	-45	-26	-73	31	83	99	27
Free Cash from Operations	-80	-69	-100	9	59	84	16
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	7/24/2025	4/24/2025	2/27/2025	10/30/2024	7/25/2024	5/2/2024	2/22/2024	10/26/2023	7/27/2023	5/4/2023	2/23/2023	10/27/2022
Key Financials Quarterly
Total Revenue	159	155	161	155	150	139	134	127	126	122	128	131
Ebitda	-36	-35	-11	-30	-31	-39	-5	-55	-60	-58	-29	-22
Operating Income	-40	-38	-63	-32	-34	-42	-52	-58	-63	-60	-43	-25
Net Income	-40	-34	-66	-31	-33	-39	-47	-49	-57	-53	-37	-27
EPS	-0.36	-0.31	-0.61	-0.28	-0.31	-0.36	-0.45	-0.46	-0.54	-0.50	-0.36	-0.25
Key Financials TTM
Total Revenue TTM	630	622	605	578	550	526	509	504	508	522	538	543
Ebitda TTM	-111	-105	-110	-104	-129	-159	-177	-202	-169	-127	-68	-64
Operating Income TTM	-173	-167	-170	-159	-185	-214	-233	-224	-190	-149	-90	-70
Net Income TTM	-171	-164	-169	-150	-169	-193	-207	-197	-174	-141	-93	-82
Growth Rates Quarterly
Total Revenue Growth	5.6%	11.9%	20.5%	21.8%	19.3%	13.4%	4.2%	-2.8%	-10.5%	-11.2%	-3.6%	-2.0%
EBITDA Growth	-17.4%	10.8%	-131.6%	46.5%	48.7%	32.7%	84.5%	-152.6%	-224.5%	-3288.9%	-16.9%	-277.3%
Operating Income Growth	-17.7%	8.8%	-22.4%	44.9%	46.4%	31.1%	-20.3%	-136.7%	-196.6%	-7375.1%	-83.7%	-187.8%
Net Income Growth	-20.3%	11.5%	-40.0%	38.2%	41.9%	27.0%	-26.2%	-86.2%	-139.2%	-1041.8%	-41.0%	-102.5%
Margins Quarterly
EBITDA Margin	-22.7%	-22.3%	-6.5%	-19.1%	-20.4%	-27.9%	-3.4%	-43.5%	-47.6%	-47.1%	-22.8%	-16.8%
Operating Income Margin	-24.9%	-24.4%	-39.3%	-20.7%	-22.3%	-30.0%	-38.7%	-45.7%	-49.7%	-49.3%	-33.5%	-18.8%
Net Income Margin	-25.3%	-22.1%	-40.9%	-19.7%	-22.2%	-28.0%	-35.2%	-38.9%	-45.6%	-43.4%	-29.0%	-20.3%
Cash & Debt
Total Cash	912	929	960	960	951	870	911	921	941	958	969	970
Total Debt	700	697	683	676	675	595	605	590	587	586	584	580
Net Debt / (Cash)	-211	-232	-277	-284	-276	-275	-306	-331	-353	-372	-385	-391
Cash Flows Quarterly
FCF from Operations	-16	-36	-3	10	-2	-32	-15	-19	-23	-17	-4	22
Cash Flows TTM
FCF from Operations TTM	-45	-30	-26	-37	-67	-88	-73	-62	-21	18	31	49
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-11.6%	-11.5%	-20.5%	-11.0%	-11.7%	-15.0%	-19.9%	-23.3%	-26.3%	-27.0%	-20.6%	-12.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-12.6%	-12.7%	-13.8%	-13.6%	-16.2%	-19.3%	-22.3%	-22.4%	-20.0%	-16.7%	-10.7%	-8.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Tumor Treating Fields (TTFields) Segment	509	538	535	494	351
Total	509	538	535	494	351

Price Behavior

Price Behavior

Market Price	$12.82
Market Cap ($ Bil)	1.4
First Trading Date	10/02/2015
Distance from 52W High	-61.6%
	50 Days	200 Days
DMA Price	$13.09	$16.92
DMA Trend	down	up
Distance from DMA	-2.1%	-24.2%
	3M	1YR
Volatility	45.6%	78.9%
Downside Capture	208.86	179.41
Upside Capture	185.78	122.53
Correlation (SPY)	39.9%	31.8%

NVCR Betas & Captures as of 9/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.94	1.89	2.09	1.25	1.25	1.22
Up Beta	4.24	2.72	5.01	1.39	1.13	1.18
Down Beta	-1.60	1.12	1.50	0.76	0.98	1.11
Up Capture	185%	197%	-20%	85%	150%	52%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	10	22	30	58	119	348
Down Capture	221%	165%	255%	171%	135%	109%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	10	19	31	63	126	395

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	5,242,339
Short Interest: % Change Since 9302025	-8.8%
Average Daily Volume	2,036,264
Days-to-Cover Short Interest	2.57
Basic Shares Quantity	111,572,191
Short % of Basic Shares	4.7%

Returns Analyses

	Title
0	NovoCure Stock Fell 8.3% in a Month, What Now?
1	NovoCure Stock Return Comparison
2	[10/5/2021] Novocure Limited (NVCR) Stock Price Forecast: AI Forecasts NVCR Stock Price To Be Around $115 In A Month (Up 4.2%)
3	NovoCure Total Shareholder Return (TSR): -2.3% in 2022 and -4.5% 3-yr returns (above peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/24/2025	-24.0%	-33.6%	-27.9%
4/24/2025	4.4%	2.1%	1.9%
1/13/2025	-0.3%	-4.7%	-22.7%
10/30/2024	0.6%	-1.6%	16.6%
7/25/2024	-0.7%	21.2%	-9.6%
5/2/2024	11.4%	25.8%	72.8%
1/8/2024	11.6%	0.6%	11.7%
10/26/2023	-7.5%	-7.0%	-11.4%
...
SUMMARY STATS
# Positive	9	11	13
# Negative	14	12	10
Median Positive	4.4%	6.6%	11.7%
Median Negative	-6.3%	-5.8%	-13.8%
Max Positive	12.0%	25.8%	72.8%
Max Negative	-24.0%	-33.6%	-27.9%

	Forward Returns
7/24/2025	-24.0%	-33.6%	-27.9%
4/24/2025	4.4%	2.1%	1.9%
1/13/2025	-0.3%	-4.7%	-22.7%
10/30/2024	0.6%	-1.6%	16.6%
7/25/2024	-0.7%	21.2%	-9.6%
5/2/2024	11.4%	25.8%	72.8%
1/8/2024	11.6%	0.6%	11.7%
10/26/2023	-7.5%	-7.0%	-11.4%
7/27/2023	-15.9%	-25.4%	-25.6%
5/4/2023	1.2%	8.4%	20.6%
1/9/2023	-16.3%	-13.8%	-15.2%
10/27/2022	0.2%	5.4%	10.8%
7/28/2022	-5.0%	-1.7%	15.1%
4/28/2022	0.3%	6.6%	4.2%
1/10/2022	-0.9%	4.3%	13.7%
10/28/2021	-8.2%	-0.4%	-12.4%
7/29/2021	-9.9%	-15.8%	-26.8%
4/29/2021	-0.1%	-1.8%	-2.0%
1/11/2021	-0.2%	-1.7%	9.8%
10/29/2020	6.8%	5.7%	9.9%
7/30/2020	12.0%	14.7%	19.9%
4/30/2020	-10.5%	-11.9%	-8.3%
1/13/2020	-3.7%	9.8%	7.5%
SUMMARY STATS
# Positive	9	11	13
# Negative	14	12	10
Median Positive	4.4%	6.6%	11.7%
Median Negative	-6.3%	-5.8%	-13.8%
Max Positive	12.0%	25.8%	72.8%
Max Negative	-24.0%	-33.6%	-27.9%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	7242025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	7252024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	10262023	10-Q 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021
9302021	10282021	10-Q 9/30/2021

Insider Activity

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Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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NovoCure (NVCR)

Market Price (10/31/2025): $13.25 | Market Cap: $1.5 BilSector: Health Care | Industry: Life Sciences Tools & Services

NovoCure (NVCR)

Market Price (10/31/2025): $13.25Market Cap: $1.5 BilSector: Health CareIndustry: Life Sciences Tools & Services

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NVCR Stock

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Market Price (10/31/2025): $13.25 | Market Cap: $1.5 Bil
Sector: Health Care | Industry: Life Sciences Tools & Services

Market Price (10/31/2025): $13.25
Market Cap: $1.5 Bil
Sector: Health Care
Industry: Life Sciences Tools & Services