Saturday 17 October 2026 Export NVCR’s income statement to Excel — free account

NovoCure Limited

NovoCure Limited’s revenue for fiscal 2025 (year ended December 2025) was $655.4 million, up 8.28% from fiscal 2024. In the quarter to June 2026, revenue grew 15.6%, EPS grew 63.9%, free cash flow grew 105.7% and total debt rose 100.7%, each against the same quarter a year earlier.

14.07 0.34 −2.36%

Follow NVCR

Alert me

Market cap: $1.7B
P/E: 0.0×
Fwd P/E: −10.8×
Dividend yield: —
F-score: 4/9
Altman Z: 0.43
Beneish M: −2.12
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 2.98

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	2	7	—	—	8	—	—	—	—

Insider Ownership 9.78%

Capital & Financial Ratios $m

Market Cap 1,680.00

Revenue 699.19

Net Income (148.56)

Free Cash Flow (25.43)

Net Debt (254.58)

Current Ratio 2.89

Debt/Equity 0.58

P/E ratio 0.00

Fwd P/E (10.80)

P/S ratio 2.33

P/B ratio 4.83

Past 5Y EPS Growth —

This Y EPS Growth (1.23%)

Next Y EPS Growth 34.71%

Next Y revenue growth 10.80%

Next 5Y EPS Growth 32.69%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 5.97%

10-year low 10-year high

P/B against its own 10 years 22.96%

10-year low 10-year high

EV/Sales against its own 10 years 12.38%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	912	962	458	450
Receivables	84	109	148	146
Inventory	38	35	41	42
Other	—	—	—	—
	1,034	1,107	647	639

	2023	2024	2025	Q'26
Payables	94	105	122	131
ST’ Debt	—	—	—	—
Other	—	—	—	—
	179	756	223	221

Compound Annual Growth %

	10y	5y	3y
Sales	34.80%	5.80%	6.81%
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	3.10%	(6.50%)	(8.27%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	174	184	—	—	—
’25	155	159	167	174	655
’24	139	150	155	161	605
’23	122	126	127	134	509
’22	138	141	131	128	538
’21	135	134	134	133	535
’20	102	116	133	144	494

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(14)	8	—	—	—
’25	(36)	(16)	21	(18)	(49)
’24	(32)	(2)	10	(3)	(26)
’23	(17)	(23)	(19)	(15)	(73)
’22	(4)	16	22	(4)	31
’21	18	26	24	14	83
’20	2	13	31	53	99

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(19)	1	—	—	—
’25	(46)	(21)	15	(23)	(76)
’24	(43)	(13)	0	(12)	(69)
’23	(23)	(30)	(27)	(21)	(100)
’22	(9)	12	17	(10)	9
’21	14	24	21	0	59
’20	(1)	9	28	48	84

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.62)	(0.13)	—	—	—
’25	(0.31)	(0.36)	(0.33)	(0.22)	(1.22)
’24	(0.36)	(0.31)	(0.28)	(0.61)	(1.56)
’23	(0.50)	(0.54)	(0.46)	(0.45)	(1.95)
’22	(0.04)	(0.23)	(0.25)	(0.36)	(0.88)
’21	(0.04)	(0.14)	(0.13)	(0.25)	(0.56)
’20	0.04	0.02	0.09	0.04	0.18

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	5.95	6.00	19.06	31.19	53.40	74.90	56.39	10.87	11.70	10.70	Analyst estimates 2026–2028 Powerpack
	High	23.31	22.30	53.70	98.70	179.62	232.76	90.98	120.03	34.13	31.17
People
People	Employees	460	495	598	782	1,023	1,167	1,320	1,453	1,488	1,605
	Revenue/emp, $m	0.18	0.36	0.41	0.45	0.48	0.46	0.41	0.35	0.41	0.41
Income, $m
Income, $m	Revenue	83	177	248	351	494	535	538	509	605	655
	Gross margin, %	44.16	68.59	67.73	74.78	78.46	78.53	78.64	74.81	77.33	74.54
	EBT	(121)	(48)	(46)	(9)	18	(52)	(82)	(192)	(131)	(136)
	EBT margin, %	(146.54)	(27.40)	(18.52)	(2.51)	3.66	(9.73)	(15.22)	(37.64)	(21.67)	(20.79)
	Net income	(132)	(62)	(64)	(7)	20	(58)	(93)	(207)	(169)	(136)
	Depreciation	6	8	10	6	12	13	9	(12)	(14)	(9)
Per share, $
Per share, $	Revenue	0.97	2.00	2.70	3.61	4.90	5.17	5.14	4.79	5.61	5.88
	Earnings	(1.54)	(0.70)	(0.69)	(0.07)	0.20	(0.56)	(0.88)	(1.95)	(1.56)	(1.22)
	Cash flow	(1.26)	(0.37)	(0.02)	0.27	0.98	0.80	0.29	(0.69)	(0.24)	(0.44)
	Capex	(0.21)	(0.08)	(0.07)	(0.11)	(0.15)	(0.23)	(0.20)	(0.25)	(0.40)	(0.24)
	Free cash flow	(1.46)	(0.46)	(0.09)	0.17	0.83	0.57	0.09	(0.94)	(0.64)	(0.68)
	Book value	1.66	1.28	1.22	2.24	4.72	3.97	4.22	3.41	3.34	3.05
	Shares, m	86	89	92	97	101	103	105	106	108	111
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	865.20	0.00	0.00	0.00	0.00	0.00
	P/S	8.10	10.15	12.39	23.32	35.33	14.51	13.22	3.01	5.31	2.20
	P/B	4.72	15.83	27.39	37.62	36.65	18.92	16.12	4.23	8.92	4.23
	EV/Sales	6.61	9.66	12.00	22.82	34.47	13.81	12.47	2.33	3.91	1.80
	EV/FCF	(4.37)	(42.21)	(346.97)	496.77	202.43	126.13	711.15	(11.83)	(34.22)	(15.58)
Cash, $m
Cash, $m	Operating cash flow	(108)	(33)	(2)	27	99	83	31	(73)	(26)	(49)
	Capex	(18)	(7)	(7)	(10)	(15)	(24)	(21)	(27)	(43)	(27)
	Free cash flow	(125)	(40)	(9)	16	84	59	9	(100)	(69)	(76)
Balance, $m
Balance, $m	Working capital	225	195	257	354	886	931	953	855	350	424
	Total debt	96	97	149	149	430	562	566	569	117	237
	Net debt	(124)	(88)	(99)	(179)	(424)	(376)	(404)	(344)	(845)	(221)
	Shareholders’ equity	142	114	112	218	477	410	441	362	360	340
Returns, %
Returns, %	ROA	(44.74)	(22.53)	(21.01)	(1.77)	2.59	(5.33)	(7.94)	(17.71)	(14.13)	(13.32)
	ROIC	(385.93)	(96.51)	(155.72)	(1.46)	36.29	(81.01)	(152.27)	(767.68)	0.00	(80.34)
	ROE	(67.07)	(48.19)	(56.29)	(4.38)	5.71	(13.16)	(21.73)	(51.52)	(46.67)	(38.89)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
UFPT UFP Technologies, Inc.	$2.3B	31.2×	23.6×	+15.07% (above 0%: growing)	+20.63% (above 0%: growing)	−35.77% (below 0%: shrinking)	29.27%	16.15%	Compare
BFLY Butterfly Network, Inc.	$2.1B	— (loss-making)	— (loss-making)	+39.47% (above 0%: growing)	n/m	−113.85% (below 0%: shrinking)	71.41%	(41.90%)	Compare
AXGN AxoGen, Inc.	$2.1B	— (loss-making)	— (loss-making)	+23.06% (above 0%: growing)	n/m	−17.36% (below 0%: shrinking)	72.67%	(3.09%)	Compare
INSP Inspire Medical Systems, Inc.	$2.0B	14.8×	93.5×	−7.60% (below 0%: shrinking)	n/m	+322.84% (above 0%: growing)	85.48%	(0.26%)	Compare
ESTA Establishment Labs Holdings Inc.	$1.8B	— (loss-making)	— (loss-making)	+31.66% (above 0%: growing)	n/m	+2.75% (above 0%: growing)	70.64%	(6.35%)	Compare
ATEC Alphatec Holdings, Inc.	$1.7B	— (loss-making)	— (loss-making)	+15.07% (above 0%: growing)	n/m	−146.87% (below 0%: shrinking)	72.17%	(0.89%)	Compare
NVCR NovoCure Limited	$1.7B	— (loss-making)	— (loss-making)	+15.60% (above 0%: growing)	n/m	+105.68% (above 0%: growing)	77.61%	(5.75%)
CNMD CONMED Corporation	$1.4B	25.3×	8.8×	+0.33% (above 0%: growing)	+11.59% (above 0%: growing)	+45.96% (above 0%: growing)	57.49%	10.60%	Compare
BVS Bioventus Inc.	$1.2B	16.4×	21.4×	+3.76% (above 0%: growing)	+345.45% (above 0%: growing)	−25.11% (below 0%: shrinking)	68.97%	12.48%	Compare
Median of peers	$1.9B	20.8×	22.5×	+15.07%	+20.63%	−21.23%	71.03%	(0.57%)

All 149 Medical Devices stocks →

NovoCure Limited (NVCR) key facts

Concern: NovoCure Limited reported a net loss of $136.2 million, or a loss of $1.22 per share, for fiscal 2025.
Strength: NovoCure Limited’s revenue for fiscal 2025 (year ended December 2025) was $655.4 million, up 8.28% from fiscal 2024.
NovoCure Limited (NVCR) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, NVCR traded at $14.07, a market capitalization of $1.7 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 2.3× sales.
Return on equity was −38.9% and debt-to-equity 0.58.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.43 (distress zone) for fiscal 2025.