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MKS Inc. (MKSI) vs Novanta Inc. (NOVT)

MKS Inc. and Novanta Inc. are both Scientific & Technical Instruments companies. MKS Inc. is the larger, with a market value of $12.0B against $5.0B — 2.4× the size. MKS Inc. trades at the lower P/E: 21.5× against 84.6×. MKS Inc. grew revenue faster over the last twelve months: 24.6% against 7.61%. MKS Inc. has the higher net margin (12.6% vs 6.00%) and the higher return on invested capital (8.51% vs 5.12%). Across the 22 metrics below, MKS Inc. leads on 17 and Novanta Inc. on 5.

Valuation

Metric MKSI NOVT Scientific & Technical Instruments median
P/E 21.51 84.55 28.21
P/S 2.72 5.35 4.46
P/B 3.95 3.41 3.10
Price to free cash flow 23.39 50.54 24.15
EV/EBITDA 15.37 32.65 18.28
EV/Sales 3.37 4.88 4.64
Earnings yield 4.65% 1.18% 0.68%
Free cash flow yield 4.28% 1.98% 1.98%

Profitability

Metric MKSI NOVT Scientific & Technical Instruments median
Gross margin 47.24% 44.54% 47.24%
Operating margin 18.23% 8.96% 8.96%
Net margin 12.61% 6.00% 1.92%
Free cash flow margin 11.63% 10.59% 10.59%
Return on equity 20.46% 5.11% 2.66%
Return on assets 6.69% 3.38% 1.12%
Return on invested capital 8.51% 5.12% 4.79%

Growth

Metric MKSI NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 24.56% 7.61% 9.26%
EPS growth (last fiscal year) 55.52% (16.95%) 13.24%
Revenue growth, 5-year CAGR 11.03% 10.67% 7.89%
Net income growth, 5-year CAGR (3.36%) 3.87% 0.00%

Health

Metric MKSI NOVT Scientific & Technical Instruments median
Debt to equity 1.15 0.14 0.00
Current ratio 1.19 4.57 2.30
Net debt to EBITDA 3.93 (0.83) 0.45

Dividend

Metric MKSI NOVT Scientific & Technical Instruments median
Dividend yield 0.51% — 0.62%
Payout ratio 0.12 — 0.22

Size

Metric MKSI NOVT Scientific & Technical Instruments median
Market cap 11.96b 4.99b 549.07m

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