BEL Fuse vs Novanta
Novanta is the larger business, with $981m of revenue in fiscal 2025 against $675m for BEL Fuse (1.5 times as much). BEL Fuse grew faster (26.3% against 3.3%). BEL Fuse kept more of each dollar of sales as profit: a net margin of 9.1% against 5.5%.
| Latest fiscal year | BEL FuseBELFA, 2025 | NovantaNOVT, 2025 |
|---|---|---|
| Revenue | $675m | $981m |
| Revenue growth | 26.3% | 3.3% |
| Net income | $61.5m | $53.8m |
| Operating margin | 16.4% | — |
| Net margin | 9.1% | 5.5% |
| Return on equity | 15.7% | 5.2% |
| Free cash flow | $68.6m | $48.4m |
| Cash | $57.8m | $381m |
| Total debt | $198m | $251m |
| Debt to equity | 46.4% | — |
| Dividend per share | — | — |
| Dividend yield | 0.9% | — |
| Share buybacks | $0 | $39.3m |
| Employees | — | 3,000 |
| Market value | $408m | $5.61bn |
| Price vs our value range | Below our value range | Above our value range |
| Moat score | 30 (Weak) | 71 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 45 sales |