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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 $15.5B against $5.1B — 3.0× the size. MKS Inc. trades at the lower P/E: 32.9× against 81.0×. MKS Inc. grew revenue faster over the last twelve months: 16.3% against 7.61%. MKS Inc. has the higher net margin (10.1% vs 6.00%) and the higher return on invested capital (6.74% vs 5.12%). Across the 22 metrics below, MKS Inc. leads on 16 and Novanta Inc. on 6.

Valuation

Metric MKSI NOVT Scientific & Technical Instruments median
P/E 32.90 81.00 33.25
P/S 3.34 5.13 4.50
P/B 4.86 3.27 2.90
Price to free cash flow 31.71 48.42 24.81
EV/EBITDA 17.07 31.15 17.92
EV/Sales 4.11 4.65 4.71
Earnings yield 3.04% 1.23% 0.60%
Free cash flow yield 3.15% 2.07% 1.27%

Profitability

Metric MKSI NOVT Scientific & Technical Instruments median
Gross margin 46.96% 44.54% 45.75%
Operating margin 15.69% 8.96% 7.34%
Net margin 10.12% 6.00% 1.56%
Free cash flow margin 10.53% 10.59% 5.84%
Return on equity 15.88% 5.11% 2.87%
Return on assets 4.95% 3.38% 0.99%
Return on invested capital 6.74% 5.12% 3.88%

Growth

Metric MKSI NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 16.26% 7.61% 11.15%
EPS growth (last fiscal year) 55.52% (16.95%) 11.47%
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 1.32 0.14 0.00
Current ratio 1.14 4.57 2.24
Net debt to EBITDA 3.93 (0.83) 0.44

Dividend

Metric MKSI NOVT Scientific & Technical Instruments median
Dividend yield 0.45% — 0.58%
Payout ratio 0.15 — 0.36

Size

Metric MKSI NOVT Scientific & Technical Instruments median
Market cap 15.45b 5.10b 444.25m

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