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Nova Ltd.

NVMI Technology Semiconductor Equipment & Materials

Nova Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $880.6 million, up 31.0% from fiscal 2024. In the quarter to June 2026, revenue grew 15.9%, EPS grew 1.72%, free cash flow fell 10.5% and total debt rose 389.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

353.00 1.59 −0.45%
Market cap
$11.3B
P/E
40.7×
Fwd P/E
50.8×
Dividend yield
—
F-score
3/9
Altman Z
7.65
Beneish M
−2.39
Dividend safety
n/a

Insider Decisions trades per month

Total sells 6.74
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 4 4 1 — 2 —
Insider Ownership 0.57%

Capital & Financial Ratios $m

Market Cap 11,280.00
Revenue 937.50
Net Income 270.38
Free Cash Flow 189.75
Net Debt (287.41)
Current Ratio 1.55 (at or above 1.5: strong)
Debt/Equity 0.50
P/E ratio 40.67 (above 35: high)
Fwd P/E 50.80 (above 35: high)
P/S ratio 11.97 (above 10: high)
P/B ratio 8.52 (above 6: high)
Past 5Y EPS Growth 36.99% (at or above 15%: strong)
This Y EPS Growth 23.82% (at or above 15%: strong)
Next Y EPS Growth 27.98% (at or above 15%: strong)
Next Y revenue growth 22.42% (at or above 10%: strong)
Next 5Y EPS Growth 24.38% (at or above 15%: strong)

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

Valuation vs history

P/E against its own 10 years 78.10%
10-year low 10-year high
P/S against its own 10 years 91.80%
10-year low 10-year high
P/B against its own 10 years 87.37%
10-year low 10-year high
EV/Sales against its own 10 years 93.06%
10-year low 10-year high
EV/FCF against its own 10 years 93.16%
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 444 587 1,049 1,021
Receivables 111 139 152 210
Inventory 138 157 184 185
Other 17 19 27 36
710 902 1,411 1,453
2023 2024 2025 Q'26
Payables 35 60 47 67
ST’ Debt 198 181 — 734
Other 41 68 102 80
323 388 225 937

Compound Annual Growth %

10y 5y 3y
Sales 19.48% 26.73% 15.55%
Cash Flow 25.28% 32.45% 27.13%
Earnings 32.35% 40.17% 22.73%
Book Value 23.40% 28.82% 30.96%

Revenue $m

Mar Jun Sep Dec Year
’26 235 255 — — —
’25 213 220 225 223 881
’24 142 157 179 195 672
’23 132 123 129 134 518
’22 134 142 144 151 571
’21 84 98 113 122 416
’20 61 63 69 76 269
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 40 41 — — —
’25 69 46 71 60 246
’24 59 60 47 69 235
’23 23 24 47 30 124
’22 13 25 32 50 120
’21 33 26 53 20 132
’20 14 19 21 6 60
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 36 38 — — —
’25 60 43 67 48 218
’24 57 58 43 60 218
’23 20 21 43 22 106
’22 9 21 27 41 98
’21 32 25 52 18 127
’20 12 18 19 5 54
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.04 2.20 — — —
’25 2.03 2.14 1.90 1.94 7.96
’24 1.15 1.41 1.60 1.58 5.75
’23 1.09 0.94 1.05 1.20 4.28
’22 1.07 1.09 1.10 1.14 4.40
’21 0.60 0.77 1.02 0.73 3.12
’20 0.41 0.30 0.48 0.47 1.65
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 8.57 13.04 20.83 21.87 25.70 69.38 67.40 81.91 128.74 154.00

Analyst estimates 2026–2028

Powerpack
High 13.96 31.88 32.00 38.47 72.53 148.94 149.15 138.50 247.21 361.32
People
People Employees 510 616 662 646 713 1,000 3,531 3,606 4,149 1,612
Revenue/emp, $m 0.32 0.36 0.38 0.35 0.38 0.42 0.16 0.14 0.16 0.55
Income, $m
Income, $m Revenue 164 222 251 225 269 416 571 518 672 881
Gross margin, % 45.93 59.10 57.83 54.16 56.77 56.58 55.54 56.61 57.57 57.37
EBT 11 60 63 39 56 109 158 155 216 303
EBT margin, % 6.94 27.07 25.26 17.56 20.97 26.26 27.76 29.87 32.17 34.44
Net income 10 46 54 35 48 93 140 136 184 259
Depreciation 7 6 8 8 9 15 18 14 11 19
Per share, $
Per share, $ Revenue 6.03 8.02 8.96 8.06 9.59 14.67 19.89 17.97 23.10 29.25
Earnings 0.35 1.68 1.94 1.26 1.71 3.28 4.89 4.73 6.31 8.61
Cash flow (0.15) 2.23 1.29 1.46 2.14 4.66 4.17 4.29 8.08 8.16
Capex (0.12) (0.23) (0.13) (0.76) (0.23) (0.17) (0.74) (0.60) (0.59) (0.92)
Free cash flow (0.27) 2.00 1.16 0.70 1.92 4.49 3.42 3.69 7.49 7.24
Book value 6.43 8.19 10.02 11.28 13.22 16.70 20.45 26.04 31.87 43.78
Shares, m 27 28 28 28 28 28 29 29 29 30
Valuation, ×
Valuation, × P/E 36.56 15.84 11.80 30.02 41.29 44.66 16.92 28.68 31.26 37.83
P/S 2.18 3.32 2.54 4.69 7.36 9.99 4.17 7.55 8.53 11.23
P/B 2.05 3.25 2.27 3.36 5.34 8.77 4.05 5.21 6.18 7.50
EV/Sales 1.63 2.65 1.84 4.01 6.47 9.52 3.87 7.15 7.98 10.97
EV/FCF (36.57) 10.59 14.26 46.46 32.38 31.09 22.48 34.83 24.61 44.33
Cash, $m
Cash, $m Operating cash flow (4) 62 36 41 60 132 120 124 235 246
Capex (3) (6) (4) (21) (6) (5) (21) (17) (17) (28)
Free cash flow (7) 56 32 19 54 127 98 106 218 218
Balance, $m
Balance, $m Working capital 129 180 233 257 498 279 479 387 514 1,186
Total debt — — — 33 183 216 202 198 181 732
Net debt (91) (149) (176) (153) (241) (194) (171) (246) (406) (317)
Shareholders’ equity 175 227 281 315 372 474 587 751 928 1,318
Returns, %
Returns, % ROA 4.53 18.51 17.63 9.59 9.07 12.75 15.67 12.87 14.56 13.82
ROIC 7.59 46.54 36.01 14.08 26.68 25.08 22.54 16.38 22.46 15.82
ROE 5.74 23.15 21.43 11.82 13.97 22.03 26.44 20.38 21.90 23.08
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Nova Ltd. vs peers in Semiconductor Equipment & Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
Q Qnity Electronics, Inc. $26.5B 45.2× 39.8× +22.14% (above 0%: growing) −37.61% (below 0%: shrinking) −29.91% (below 0%: shrinking) 46.61% 19.31% Compare
ENTG Entegris, Inc. $24.8B 82.9× 48.6× +11.46% (above 0%: growing) +74.29% (above 0%: growing) +148.72% (above 0%: growing) 47.55% 18.64% Compare
ONTO Onto Innovation Inc. $14.4B 109× 48.8× +35.30% (above 0%: growing) +76.81% (above 0%: growing) +30.97% (above 0%: growing) 53.41% 18.52% Compare
AMKR Amkor Technology, Inc. $12.7B 21.9× 31.1× +25.58% (above 0%: growing) +218.18% (above 0%: growing) −276.02% (below 0%: shrinking) 16.79% 10.53% Compare
NVMI Nova Ltd. $11.3B 40.7× 50.8× +15.90% (above 0%: growing) +1.72% (above 0%: growing) −10.48% (below 0%: shrinking) 56.54% 29.88%
FORM FormFactor, Inc. $10.7B 94.4× 64.7× +31.89% (above 0%: growing) +500.00% (above 0%: growing) +211.52% (above 0%: growing) 50.70% 22.38% Compare
CAMT Camtek Ltd. $7.0B 201× 52.5× +12.31% (above 0%: growing) −33.33% (below 0%: shrinking) +952.40% (above 0%: growing) 50.06% 20.43% Compare
ACMR ACM Research, Inc. $4.9B 31.7× 36.3× +36.01% (above 0%: growing) +178.72% (above 0%: growing) −19.43% (below 0%: shrinking) 45.96% 16.98% Compare
KLIC Kulicke and Soffa Industries, Inc. $4.8B 41.6× 34.7× +122.63% (above 0%: growing) n/m +856.72% (above 0%: growing) 47.80% 20.66% Compare
Median of peers $11.7B 64.1× 44.2× +28.74% +76.81% +89.85% 47.68% 18.98%

All 29 Semiconductor Equipment & Materials stocks →

Nova Ltd. (NVMI) key facts

  • Strength: Nova Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $880.6 million, up 31.0% from fiscal 2024.
  • Strength: Net income was $259.2 million, or $8.61 per share (basic), a net margin of 29.4%.
  • Nova Ltd. (NVMI) is a Semiconductor Equipment & Materials company in the Technology sector, listed on Nasdaq.
  • As of October 9, 2026, NVMI traded at $353.00, a market capitalization of $11.3 billion.
  • At that price the stock trades at 40.7× trailing-twelve-month earnings and 12.0× sales; its P/E is higher than 78% of its own readings over the past ten years.
  • Return on equity was 23.1% and debt-to-equity 0.50.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 7.65 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Nova Ltd. (NVMI) Latest News

29 Jun

Impact 3 ·

21 May

Impact 4 · transcript
stockrow.com/NVMI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com