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Itron, Inc. (ITRI) vs Novanta Inc. (NOVT)

Itron, Inc. and Novanta Inc. are both Scientific & Technical Instruments companies. Novanta Inc. is the larger, with a market value of $5.0B against $4.4B — 1.1× the size. Itron, Inc. trades at the lower P/E: 15.6× against 84.6×. Novanta Inc. grew revenue faster over the last twelve months: 7.61% against −3.63%. Itron, Inc. has the higher net margin (12.1% vs 6.00%) and the higher return on invested capital (8.09% vs 5.12%). Across the 22 metrics below, Itron, Inc. leads on 15 and Novanta Inc. on 7.

Valuation

Metric ITRI NOVT Scientific & Technical Instruments median
P/E 15.61 84.55 28.21
P/S 1.85 5.35 4.46
P/B 2.50 3.41 3.10
Price to free cash flow 11.70 50.54 24.15
EV/EBITDA 13.95 32.65 18.28
EV/Sales 2.37 4.88 4.64
Earnings yield 6.40% 1.18% 0.68%
Free cash flow yield 8.55% 1.98% 1.98%

Profitability

Metric ITRI NOVT Scientific & Technical Instruments median
Gross margin 40.66% 44.54% 47.24%
Operating margin 13.69% 8.96% 8.96%
Net margin 12.05% 6.00% 1.92%
Free cash flow margin 15.84% 10.59% 10.59%
Return on equity 16.30% 5.11% 2.66%
Return on assets 7.15% 3.38% 1.12%
Return on invested capital 8.09% 5.12% 4.79%

Growth

Metric ITRI NOVT Scientific & Technical Instruments median
Revenue growth (TTM) (3.63%) 7.61% 9.26%
EPS growth (last fiscal year) 25.48% (16.95%) 13.24%
Revenue growth, 5-year CAGR 1.72% 10.67% 7.89%
Net income growth, 5-year CAGR 0.00% 3.87% 0.00%

Health

Metric ITRI NOVT Scientific & Technical Instruments median
Debt to equity 0.92 0.14 0.00
Current ratio 2.83 4.57 2.30
Net debt to EBITDA 0.62 (0.83) 0.45

Dividend

Metric ITRI NOVT Scientific & Technical Instruments median
Dividend yield — — 0.62%
Payout ratio — — 0.22

Size

Metric ITRI NOVT Scientific & Technical Instruments median
Market cap 4.36b 4.99b 549.07m

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