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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 $7.8B against $5.1B — 1.5× the size. ESCO Technologies Inc. trades at the lower P/E: 20.5× against 81.0×. 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 16 and Novanta Inc. on 6.

Valuation

Metric ESE NOVT Scientific & Technical Instruments median
P/E 20.52 81.00 33.25
P/S 5.00 5.13 4.50
P/B 3.99 3.27 2.90
Price to free cash flow 32.83 48.42 24.81
EV/EBITDA 20.94 31.15 17.92
EV/Sales 5.01 4.65 4.71
Earnings yield 4.87% 1.23% 0.60%
Free cash flow yield 3.05% 2.07% 1.27%

Profitability

Metric ESE NOVT Scientific & Technical Instruments median
Gross margin 42.01% 44.54% 45.75%
Operating margin 15.66% 8.96% 7.34%
Net margin 24.39% 6.00% 1.56%
Free cash flow margin 15.23% 10.59% 5.84%
Return on equity 21.39% 5.11% 2.87%
Return on assets 12.73% 3.38% 0.99%
Return on invested capital 7.76% 5.12% 3.88%

Growth

Metric ESE NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 34.33% 7.61% 11.15%
EPS growth (last fiscal year) 193.15% (16.95%) 11.47%
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 2.24
Net debt to EBITDA 0.34 (0.83) 0.44

Dividend

Metric ESE NOVT Scientific & Technical Instruments median
Dividend yield 0.13% — 0.58%
Payout ratio 0.03 — 0.36

Size

Metric ESE NOVT Scientific & Technical Instruments median
Market cap 7.83b 5.10b 444.25m

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