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ESCO Technologies Inc. (ESE) vs Novanta Inc. (NOVT)

ESCO Technologies Inc. and Novanta Inc. are both Scientific & Technical Instruments companies. ESCO Technologies Inc. is the larger, with a market value of $7.0B against $5.0B — 1.4× the size. ESCO Technologies Inc. trades at the lower P/E: 19.0× against 84.6×. ESCO Technologies Inc. grew revenue faster over the last twelve months: 34.3% against 7.61%. ESCO Technologies Inc. has the higher net margin (24.4% vs 6.00%) and the higher return on invested capital (7.76% vs 5.12%). Across the 22 metrics below, ESCO Technologies Inc. leads on 17 and Novanta Inc. on 5.

Valuation

Metric ESE NOVT Scientific & Technical Instruments median
P/E 18.99 84.55 28.21
P/S 4.63 5.35 4.46
P/B 3.69 3.41 3.10
Price to free cash flow 30.38 50.54 24.15
EV/EBITDA 19.38 32.65 18.28
EV/Sales 4.64 4.88 4.64
Earnings yield 5.27% 1.18% 0.68%
Free cash flow yield 3.29% 1.98% 1.98%

Profitability

Metric ESE NOVT Scientific & Technical Instruments median
Gross margin 42.01% 44.54% 47.24%
Operating margin 15.66% 8.96% 8.96%
Net margin 24.39% 6.00% 1.92%
Free cash flow margin 15.23% 10.59% 10.59%
Return on equity 21.39% 5.11% 2.66%
Return on assets 12.73% 3.38% 1.12%
Return on invested capital 7.76% 5.12% 4.79%

Growth

Metric ESE NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 34.33% 7.61% 9.26%
EPS growth (last fiscal year) 193.15% (16.95%) 13.24%
Revenue growth, 5-year CAGR 8.44% 10.67% 7.89%
Net income growth, 5-year CAGR 24.66% 3.87% 0.00%

Health

Metric ESE NOVT Scientific & Technical Instruments median
Debt to equity 0.05 0.14 0.00
Current ratio 1.38 4.57 2.30
Net debt to EBITDA 0.34 (0.83) 0.45

Dividend

Metric ESE NOVT Scientific & Technical Instruments median
Dividend yield 0.14% — 0.62%
Payout ratio 0.03 — 0.22

Size

Metric ESE NOVT Scientific & Technical Instruments median
Market cap 7.00b 4.99b 549.07m

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