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Novanta Inc. (NOVT) vs Vontier Corporation (VNT)

Novanta Inc. and Vontier Corporation are both Scientific & Technical Instruments companies. Novanta Inc. is the larger, with a market value of $5.1B against $4.5B — 1.1× the size. Vontier Corporation trades at the lower P/E: 13.7× against 81.0×. Novanta Inc. grew revenue faster over the last twelve months: 7.61% against 0.88%. Vontier Corporation has the higher net margin (11.3% vs 6.00%) and the higher return on invested capital (14.3% vs 5.12%). Across the 22 metrics below, Vontier Corporation leads on 15 and Novanta Inc. on 7.

Valuation

Metric NOVT VNT Scientific & Technical Instruments median
P/E 81.00 13.72 33.25
P/S 5.13 1.52 4.50
P/B 3.27 3.88 2.90
Price to free cash flow 48.42 12.09 24.81
EV/EBITDA 31.15 8.60 17.92
EV/Sales 4.65 1.95 4.71
Earnings yield 1.23% 7.29% 0.60%
Free cash flow yield 2.07% 8.27% 1.27%

Profitability

Metric NOVT VNT Scientific & Technical Instruments median
Gross margin 44.54% 47.18% 45.75%
Operating margin 8.96% 18.79% 7.34%
Net margin 6.00% 11.34% 1.56%
Free cash flow margin 10.59% 12.55% 5.84%
Return on equity 5.11% 28.90% 2.87%
Return on assets 3.38% 8.28% 0.99%
Return on invested capital 5.12% 14.25% 3.88%

Growth

Metric NOVT VNT Scientific & Technical Instruments median
Revenue growth (TTM) 7.61% 0.88% 11.15%
EPS growth (last fiscal year) (16.95%) 0.36% 11.47%
Revenue growth, 5-year CAGR 10.67% 2.60% 7.89%
Net income growth, 5-year CAGR 3.87% 3.50% 0.00%

Health

Metric NOVT VNT Scientific & Technical Instruments median
Debt to equity 0.14 1.33 0.00
Current ratio 4.57 1.25 2.24
Net debt to EBITDA (0.83) 1.60 0.44

Dividend

Metric NOVT VNT Scientific & Technical Instruments median
Dividend yield — 0.30% 0.58%
Payout ratio — 0.04 0.36

Size

Metric NOVT VNT Scientific & Technical Instruments median
Market cap 5.10b 4.50b 444.25m

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