Novanta Inc. Tangible Equity Units

NOVTU

Hardware, Equipment & Parts · Technology

Price

$62.26

+0.21 (+0.34%)

Market Cap

$2.22B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Strong

Stability

Exceptional

Valuation

Mixed

Dividends

Good

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Winston Score History

The full picture

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

43.1%

Healthy — 43.1% gross margin

Profit after running costs

Operating Margin

11.5%

Modest — 11.5% operating margin

Return on the money invested

ROCE

6.1%

Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

1/2 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

213%

Turns 213% of profit into real cash

Spare cash per sale

FCF Margin

10.9%

Modest free cash flow (10.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.14

Conservative — low debt load (0.14)

Covers its interest

Interest Cover

8.74x

Comfortably covers interest (8.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

39.2x

Pricey — P/E 39.2

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+1.9

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

5.22%

Healthy income — 5.22% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

N/A

—

Data not available

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