Camtek Ltd. (CAMT) vs Nova Ltd. (NVMI)

Camtek Ltd. and Nova Ltd. are both Semiconductor Equipment & Materials companies. Nova Ltd. is the larger, with a market value of $11.7B against $6.8B — 1.7× the size. Nova Ltd. trades at the lower P/E: 42.4× against 193×. Nova Ltd. grew revenue faster over the last twelve months: 16.2% against 11.8%. Nova Ltd. has the higher net margin (28.8% vs 7.03%) and the higher return on invested capital (14.4% vs 13.0%). Across the 22 metrics below, Nova Ltd. leads on 18 and Camtek Ltd. on 4.

Valuation

Metric CAMT NVMI Semiconductor Equipment & Materials median
P/E 193.49 42.42 54.39
P/S 13.60 12.49 6.08
P/B 9.66 8.88 4.89
Price to free cash flow 23.73 61.71 60.92
EV/EBITDA 54.51 41.45 39.95
EV/Sales 13.32 12.96 6.36
Earnings yield 0.52% 2.36% 1.14%
Free cash flow yield 4.21% 1.62% 1.28%

Profitability

Metric CAMT NVMI Semiconductor Equipment & Materials median
Gross margin 50.23% 57.12% 43.95%
Operating margin 23.46% 28.97% 10.32%
Net margin 7.03% 28.84% 7.45%
Free cash flow margin 0.00% 20.24% 6.77%
Return on equity 5.31% 0.00% 4.78%
Return on assets 3.07% 13.44% 3.62%
Return on invested capital 13.01% 14.41% 6.10%

Growth

Metric CAMT NVMI Semiconductor Equipment & Materials median
Revenue growth (TTM) 11.83% 16.16% 14.60%
EPS growth (last fiscal year) (57.02%) 38.43% —
Revenue growth, 5-year CAGR 26.06% 26.73% 8.85%
Net income growth, 5-year CAGR 18.42% 40.17% 0.00%

Health

Metric CAMT NVMI Semiconductor Equipment & Materials median
Debt to equity 0.69 0.50 0.09
Current ratio 7.38 1.55 3.66
Net debt to EBITDA (1.06) (1.16) (0.49)

Dividend

Metric CAMT NVMI Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric CAMT NVMI Semiconductor Equipment & Materials median
Market cap 6.77b 11.67b 4.63b

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