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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 $5.1B against $714.8M — 7.1× the size. Novanta Inc. trades at the lower P/E: 81.0× against 142×. 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 142.42 81.00 33.25
P/S 2.77 5.13 4.50
P/B 3.67 3.27 2.90
Price to free cash flow 13.10 48.42 24.81
EV/EBITDA 17.72 31.15 17.92
EV/Sales 3.22 4.65 4.71
Earnings yield 0.70% 1.23% 0.60%
Free cash flow yield 7.63% 2.07% 1.27%

Profitability

Metric MLAB NOVT Scientific & Technical Instruments median
Gross margin 64.21% 44.54% 45.75%
Operating margin 9.00% 8.96% 7.34%
Net margin 1.92% 6.00% 1.56%
Free cash flow margin 21.17% 10.59% 5.84%
Return on equity 2.66% 5.11% 2.87%
Return on assets 1.12% 3.38% 0.99%
Return on invested capital 4.67% 5.12% 3.88%

Growth

Metric MLAB NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 3.04% 7.61% 11.15%
EPS growth (last fiscal year) 436.11% (16.95%) 11.47%
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 2.24
Net debt to EBITDA 2.98 (0.83) 0.44

Dividend

Metric MLAB NOVT Scientific & Technical Instruments median
Dividend yield 0.52% — 0.58%
Payout ratio 0.76 — 0.36

Size

Metric MLAB NOVT Scientific & Technical Instruments median
Market cap 714.81m 5.10b 444.25m

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