Glaukos vs Novocure
Novocure is the larger business, with $655m of revenue in fiscal 2025 against $507m for Glaukos (1.3 times as much). Glaukos grew faster (32.3% against 8.3%). Novocure kept more of each dollar of sales as profit: a net margin of -20.8% against -37.0%.
| Latest fiscal year | GlaukosGKOS, 2025 | NovocureNVCR, 2025 |
|---|---|---|
| Revenue | $507m | $655m |
| Revenue growth | 32.3% | 8.3% |
| Net income | −$188m | −$136m |
| Operating margin | -39.3% | — |
| Net margin | -37.0% | -20.8% |
| Return on equity | -26.4% | -38.9% |
| Free cash flow | −$22.5m | −$75.7m |
| Cash | $90.8m | $93.5m |
| Total debt | $0 | $195m |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 1,094 | 1,605 |
| Market value | $14.03bn | $1.56bn |
| Price vs our value range | — | — |
| Moat score | 28 (Weak) | 36 (Weak) |
| Insider trades, 12 months | 0 buys, 61 sales | 0 buys, 25 sales |