15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 10.7% per year over the past 5 years.
Net income has grown slower than revenue (3.9% vs 10.7% per year).
Operating margin has been roughly flat, at 9.6% in the latest year.
Free cash flow has declined 17.9% per year over the past 5 years.
Financial health
The company holds more cash ($381M) than total debt ($251M).
Total debt has grown slower than revenue (4.6% vs 10.7% per year).
Total debt is 1.6× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$981M
$54M
44.4%
9.6%
4.1%
3.0%
$48M
$251M
$381M
2024
$949M
$64M
44.4%
11.6%
8.6%
4.6%
$141M
$417M
$114M
2023
$882M
$73M
45.4%
12.5%
10.8%
5.9%
$100M
$354M
$105M
2022
$861M
$74M
44.0%
12.0%
12.8%
6.0%
$71M
$435M
$100M
2021
$707M
$50M
42.5%
9.1%
9.7%
4.1%
$75M
$434M
$117M
2020
$591M
$45M
41.4%
9.5%
9.3%
5.1%
$130M
$200M
$125M
2019
$626M
$41M
41.9%
8.8%
9.8%
4.7%
$53M
$220M
$79M
2018
$614M
$49M
42.6%
11.6%
13.3%
6.8%
$75M
$207M
$82M
2017
$521M
$60M
42.3%
11.0%
19.3%
8.3%
$54M
$235M
$100M
2016
$385M
$22M
42.2%
8.6%
8.5%
5.2%
$39M
$78M
$68M
2015
—
$36M
—
—
14.6%
8.6%
$28M
$96M
$60M
2014
—
-$24M
—
—
-11.5%
-6.1%
$37M
$112M
$51M
2013
—
$7M
—
—
3.0%
1.9%
$44M
$72M
$61M
2012
—
$20M
—
—
8.6%
5.8%
$25M
$50M
$66M
2011
—
$29M
—
—
13.9%
8.3%
$41M
$78M
$55M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jul '26
$266M
$13M
45.5%
6.8%
0.8%
0.6%
$57M
$230M
$719M
Apr '26
$258M
$21M
44.1%
10.7%
1.6%
1.2%
$47M
$241M
$389M
Dec '25
$258M
$17M
43.8%
9.6%
1.3%
1.0%
$5M
$251M
$381M
Sep '25
$248M
$11M
44.8%
8.8%
1.3%
0.7%
$4M
$451M
$89M
Jun '25
$241M
$4M
44.3%
6.2%
0.6%
0.3%
$12M
$459M
$110M
Mar '25
$233M
$21M
44.7%
13.9%
2.8%
1.5%
$27M
$390M
$106M
Dec '24
$238M
$16M
45.5%
11.2%
2.2%
1.2%
$59M
$417M
$114M
Sep '24
$244M
$19M
44.7%
13.3%
2.6%
1.4%
$19M
$458M
$93M
Jun '24
$236M
$14M
44.0%
10.9%
2.0%
1.0%
$36M
$482M
$98M
Mar '24
$231M
$15M
43.5%
11.1%
2.2%
1.0%
$26M
$514M
$94M
Dec '23
$212M
$13M
45.6%
10.2%
1.9%
1.0%
$33M
$354M
$105M
Sep '23
$222M
$21M
45.9%
13.7%
3.3%
1.8%
$38M
$353M
$76M
Jun '23
$229M
$21M
45.4%
14.0%
3.3%
1.7%
$23M
$408M
$91M
Mar '23
$219M
$18M
44.6%
12.0%
3.1%
1.5%
$7M
$423M
$83M
Dec '22
$218M
$15M
43.3%
12.3%
2.6%
1.2%
$36M
$435M
$100M
Sep '22
$223M
$22M
44.1%
12.9%
4.1%
1.9%
$11M
$443M
$85M
Jul '22
$215M
$17M
44.2%
10.8%
3.3%
1.4%
$18M
$407M
$100M
Apr '22
$204M
$19M
44.2%
11.9%
3.5%
1.6%
$5M
$417M
$99M
Dec '21
$199M
$14M
41.7%
10.9%
2.6%
1.1%
$23M
$434M
$117M
Oct '21
$178M
$14M
42.9%
8.6%
2.7%
1.1%
$8M
$447M
$102M
Valuation over time
How the market has priced NOVT against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 81.1× (Mar '23) to 102.7× (Nov '26).
The price-to-sales ratio has fallen from 7.0× (Mar '23) to 5.6× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is NOVT growing its revenue and profit?
Over the past 5 years, Novanta Inc's revenue has grown 10.7% per year, and net income grown 3.9% per year. These are computed facts, not advice.
How much debt does NOVT have?
As of FY2025, Novanta Inc reported $251M of total debt against $381M of cash.
What is NOVT's profit margin?
In FY2025, gross margin was 44.4%, operating margin 9.6%, and net margin 5.5%.
What is NOVT's P/E ratio?
Novanta Inc's P/E (TTM) is 89.46 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the NOVT stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 102.7× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.