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Mesa Laboratories, Inc. (MLAB) vs Novanta Inc. (NOVT)

Mesa Laboratories, Inc. and Novanta Inc. are both Scientific & Technical Instruments companies. Novanta Inc. is the larger, with a market value of $5.0B against $667.6M — 7.5× the size. Novanta Inc. trades at the lower P/E: 84.6× against 148×. Novanta Inc. grew revenue faster over the last twelve months: 7.61% against 3.04%. Novanta Inc. has the higher net margin (6.00% vs 1.92%) and the higher return on invested capital (5.12% vs 4.67%). Across the 22 metrics below, Mesa Laboratories, Inc. leads on 11 and Novanta Inc. on 11.

Valuation

Metric MLAB NOVT Scientific & Technical Instruments median
P/E 147.88 84.55 28.21
P/S 2.88 5.35 4.46
P/B 3.81 3.41 3.10
Price to free cash flow 13.61 50.54 24.15
EV/EBITDA 18.30 32.65 18.28
EV/Sales 3.33 4.88 4.64
Earnings yield 0.68% 1.18% 0.68%
Free cash flow yield 7.35% 1.98% 1.98%

Profitability

Metric MLAB NOVT Scientific & Technical Instruments median
Gross margin 64.21% 44.54% 47.24%
Operating margin 9.00% 8.96% 8.96%
Net margin 1.92% 6.00% 1.92%
Free cash flow margin 21.17% 10.59% 10.59%
Return on equity 2.66% 5.11% 2.66%
Return on assets 1.12% 3.38% 1.12%
Return on invested capital 4.67% 5.12% 4.79%

Growth

Metric MLAB NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 3.04% 7.61% 9.26%
EPS growth (last fiscal year) 436.11% (16.95%) 13.24%
Revenue growth, 5-year CAGR 13.22% 10.67% 7.89%
Net income growth, 5-year CAGR 15.44% 3.87% 0.00%

Health

Metric MLAB NOVT Scientific & Technical Instruments median
Debt to equity 0.76 0.14 0.00
Current ratio 1.79 4.57 2.30
Net debt to EBITDA 2.98 (0.83) 0.45

Dividend

Metric MLAB NOVT Scientific & Technical Instruments median
Dividend yield 0.50% — 0.62%
Payout ratio 0.76 — 0.22

Size

Metric MLAB NOVT Scientific & Technical Instruments median
Market cap 667.58m 4.99b 549.07m

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