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Nova LTD. (NVMI) stock

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NASDAQ: NVMI Nasdaq Semiconductor Materials & Equipment Next results ~November 5, 2026

C+ Fundamentals grade

Nova LTD. is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$200

Cash-flow model

Base case. Range ~$150–$260 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 35% below it.

Price used: $304.00, November 2, 2026

Nova LTD. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 14 sales by directors and officers, last 12 monthsInsider trades
  • Funds169 adding, 165 cuttingOf 45 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Nova files

Where Nova LTD. stands after its latest Filing

Revenue for the twelve months was $881m, up 31.0% on a year earlier, faster than the 29.8% growth a quarter earlier. Free-cash-flow margin fell to 24.7% from 30.6% a year earlier. The diluted share count is up 2.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $197 a share, against a share price of $312. At that price, our model says the market is pricing in about 21.5% a year of cash-flow growth for five years, slower than the 26.7% a year revenue growth it has delivered.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Nova LTD.'s trailing-twelve-month revenue grew 31.0% year on year, with a free-cash-flow margin of 24.7%. Where it stands out: gross margin of 57.4% ranks 3 of 19 semiconductor materials & equipment companies we cover. Where it lags: change in growth rate of +1.1pp ranks 18 of 20 semiconductor materials & equipment companies we cover.

Our discounted-cash-flow model values the business at ~$200 per share in the base case (~$150–$260 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 0.1% while net income grew 41.1%: a 41pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 31.0% over the last 12 months, against a median of 15.8% for semiconductor materials & equipment companies we cover.
  • High operating margin. 28.8% of revenue is left as operating profit, against a median of 13.2% for semiconductor materials & equipment companies we cover.
  • Strong cash generation. 24.7% of revenue turned into free cash flow, against a median of 17.5% for semiconductor materials & equipment companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.4% over 90 days.

Things to watch

  • Priced above our value. The share price of $304.00 is 35% above our value per share of $200.
  • Share dilution. Diluted shares rose 2.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 2.9 against the S&P 500.
  • Below peers: change in growth rate. Change in growth rate of +1.1pp ranks 18 of 20 semiconductor materials & equipment companies we cover (median +7.5pp).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 31.0% ranks 10 of 13 semiconductor materials & equipment companies we cover (median 22.0%).

Latest results

Earnings per share
$2.51 against an average estimate of $2.41: beat by 4.1%
Next report
November 5, 2026; average EPS estimate $2.77

Nova's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.6%
  • 1 week-3.9%
  • 1 month-23.3%
  • This year-7.4%
  • 1 year-11.8%
  • 5 years+173.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$881M
Operating margin
28.8%
Net margin
29.4%
EPS (TTM, diluted)
$7.90

Growth

Revenue growth
+31.0%
Change in growth rate
+1.1 pts
Share count change
+2.1%

Cash

Free cash flow (TTM)
$218M
FCF margin
24.7%
Stock pay % of revenue
3.0%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Nova LTD. valuation models and calculator

What the price is pricing in

The share price implies about 21.4% a year of cash-flow growth for five years.That is slower than the 26.7% a year revenue growth Nova has delivered.

  • Priced in21.4%
  • Last 12 months31.0%
  • 3 years a year15.6%
  • 5 years a year26.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($310.67, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$200
Price used
$310.67close November 3, 2026
Implied change
▼ 37%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Nova LTD.'s free cash flow after stock-based pay with after-tax interest added back ($202M, FY2025 Q4 TTM), growing 13% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$150–~$260 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Nova LTD.'s free cash flow after stock-based pay ( $202M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Nova LTD. as an operating company, with every model that fits that kind of business. Cost of equity 11.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.54 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$200 ~$150–$260 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$130 ~$84–$170 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$220 ~$190–$290 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$130 ~$95–$180 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$93 ~$84–$100 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$160 ~$93–$220 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Nova LTD. with Semiconductor Materials & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▼ −24%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $92$125$168$226$300$397
8.5% $70$94$125$167$220$289
10% $57$76$100$131$172$224

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$9.80$13.16$25.91$22.78$37.83$70.60$146.50$81.68$137.39$196.95$328.39
Market value$270m$362m$739m$655m$1.1bn$2.0bn$4.4bn$2.6bn$4.4bn$6.3bn$10.8bn
+ Net debt (− = net cash)−$28m−$20m−$28m−$23m−$32m−$53m$56m$85m$90m$23m$517m
Enterprise value$242m$342m$711m$632m$1.0bn$2.0bn$4.4bn$2.7bn$4.5bn$6.4bn$11.3bn
Multiples
Price / sales 1.8x2.2x3.3x2.6x4.8x7.6x10.5x4.6x8.5x9.4x12.2x
Price / earnings 17.1x37.5x15.9x12.1x30.7x42.7x46.9x18.6x32.3x34.4x41.6x
Price / free cash flow 12.6x—13.3x19.6x55.7x38.0x34.3x26.5x41.5x29.0x49.4x
EV / EBITDA 15.0x24.0x11.6x9.7x25.1x32.4x37.2x17.0x31.5x31.9x42.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

76 /100

Strong moat

How hard Nova's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Pricing power 16 / 20

    Gross margin has been a median 56.6%, moving by 5.1 percentage points (standard deviation) across 5 years.

  • Durability 12 / 20

    Operating margin has been a median 26.0%; its worst year was 6.3%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 4 of 5 years, at a median 24.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $282m and EPS of $2.77 (range $2.71 to $2.80) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $10.67 +24% $1.1bn +22%
Next $13.66 +28% $1.4bn +26%

Next year's EPS estimate has moved +5.4% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.0% on 90 days ago. In the last 30 days, 5 analysts raised Nova LTD.'s forecast and 1 cut it.

Consensus EPS forecast Nova LTD., last 90 days
$10.00 $11.00 $12.00 $13.00 $14.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $10.46 Current fiscal year, 60 days ago: $10.67 Current fiscal year, 30 days ago: $10.67 Current fiscal year, 7 days ago: $10.67 Current fiscal year, Now: $10.67 $10.67 Next fiscal year, 90 days ago: $12.97 Next fiscal year, 60 days ago: $13.66 Next fiscal year, 30 days ago: $13.66 Next fiscal year, 7 days ago: $13.66 Next fiscal year, Now: $13.66 $13.66

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $10.46$12.97
60 days ago $10.67$13.66
30 days ago $10.67$13.66
7 days ago $10.67$13.66
Now $10.67$13.66

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.41 $2.51 +4.1%
Mar 2026 $2.20 $2.33 +6.0%
Dec 2025 $2.12 $2.14 +0.7%
Sept 2025 $2.15 $2.16 +0.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

8 analysts, Oct 2026
Buy675%
Hold225%
Sell00%

Monthly trend

  1. Oct 20262428
  2. Sep 20262518
  3. Aug 20262518
  4. Jul 20262518

Counts of recommendations published by analysts covering Nova LTD., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.0%
of tradable shares
Days to cover
3.63
at average volume
Short interest, 1 month
−28%
to October 15, 2026
Held by institutions
79%
of shares
Held by insiders
0.2%
of shares
Employees
1,612
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NVMI+108%−44%+68%+43%+67%−7%
Industry peers (median)+65%−36%+29%−4%+27%+28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NVMI83%33%67%58%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NVMI−14%−53%−30%−30%−41%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 53% from January 3, 2022 to October 18, 2022. Getting back needed a 112% gain, reached on January 24, 2024, 463 days after the low.

Price behaviour

52-week range
$275.78 – $605.65
From 52-week high
−49.8%
vs 50-day average
−13.6%
vs 200-day average
−31.0%
Volatility (1 year)
59%
Beta vs S&P 500
2.91

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Options strategies

All options ideas

How Nova LTD.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.23× the last 60 days’ realised volatility , richer than 62% of the 229 stocks we screen today.
  • Calls are priced 5 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

NVMI Nova LTD. Grade C+ $301.29

Own 100 shares, sell the $310 call expiring December 18, 2026 (46 days) for $21.50 a share — $2,150 per contract.

Previous session · Bid $21.50, ask $25.30, quoted Mon 2 Nov, 17:31 New York time with NVMI at $301.29. Option prices move with the shares: check the live chain at your broker before trading.

  • If NVMI ends below $310: you keep your shares and the $2,150 — 7.1% extra on the position, 56.6% a year at that pace.
  • If it ends above $310: your shares are sold at $310, a total return of 10.0% including the premium — at or above our value of ~$200.
$3.0k $0 −$5.6k Break-even $279.79 Price $301.29 ← Our value ~$200
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$2,150
Annualised
56.6%
Break-even
$279.79
Max gain
$3,021
Chance of selling
~50%

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Nova LTD. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Nova LTD.
$0 $500M $1B FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $120.6M Revenue (TTM), FY15 Q4: $148.5M Revenue (TTM), FY16 Q4: $163.9M Revenue (TTM), FY17 Q4: $222M Revenue (TTM), FY18 Q4: $251.1M Revenue (TTM), FY19 Q4: $224.9M Revenue (TTM), FY20 Q4: $269.4M Revenue (TTM), FY21 Q4: $416.1M Revenue (TTM), FY22 Q4: $570.7M Revenue (TTM), FY23 Q4: $517.9M Revenue (TTM), FY24 Q4: $672.4M Revenue (TTM), FY25 Q4: $880.6M $880.6M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $120.6M
FY15 Q4 $148.5M
FY16 Q4 $163.9M
FY17 Q4 $222M
FY18 Q4 $251.1M
FY19 Q4 $224.9M
FY20 Q4 $269.4M
FY21 Q4 $416.1M
FY22 Q4 $570.7M
FY23 Q4 $517.9M
FY24 Q4 $672.4M
FY25 Q4 $880.6M
Revenue growth, TTM YoY Nova LTD.
-20% 0% 20% 40% 60% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 8.2% Revenue growth, TTM YoY, FY15 Q4: 23.1% Revenue growth, TTM YoY, FY16 Q4: 10.4% Revenue growth, TTM YoY, FY17 Q4: 35.4% Revenue growth, TTM YoY, FY18 Q4: 13.1% Revenue growth, TTM YoY, FY19 Q4: -10.4% Revenue growth, TTM YoY, FY20 Q4: 19.8% Revenue growth, TTM YoY, FY21 Q4: 54.5% Revenue growth, TTM YoY, FY22 Q4: 37.2% Revenue growth, TTM YoY, FY23 Q4: -9.3% Revenue growth, TTM YoY, FY24 Q4: 29.8% Revenue growth, TTM YoY, FY25 Q4: 31.0% 31.0%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 8.2%
FY15 Q4 23.1%
FY16 Q4 10.4%
FY17 Q4 35.4%
FY18 Q4 13.1%
FY19 Q4 -10.4%
FY20 Q4 19.8%
FY21 Q4 54.5%
FY22 Q4 37.2%
FY23 Q4 -9.3%
FY24 Q4 29.8%
FY25 Q4 31.0%
Operating margin (TTM) Nova LTD.
0% 10% 20% 30% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 14.0% Operating margin (TTM), FY15 Q4: 7.8% Operating margin (TTM), FY16 Q4: 6.2% Operating margin (TTM), FY17 Q4: 26.0% Operating margin (TTM), FY18 Q4: 24.1% Operating margin (TTM), FY19 Q4: 16.2% Operating margin (TTM), FY20 Q4: 20.6% Operating margin (TTM), FY21 Q4: 27.0% Operating margin (TTM), FY22 Q4: 26.3% Operating margin (TTM), FY23 Q4: 25.5% Operating margin (TTM), FY24 Q4: 27.9% Operating margin (TTM), FY25 Q4: 28.8% 28.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 14.0%
FY15 Q4 7.8%
FY16 Q4 6.2%
FY17 Q4 26.0%
FY18 Q4 24.1%
FY19 Q4 16.2%
FY20 Q4 20.6%
FY21 Q4 27.0%
FY22 Q4 26.3%
FY23 Q4 25.5%
FY24 Q4 27.9%
FY25 Q4 28.8%
FCF margin (TTM) Nova LTD.
-10% 0% 10% 20% 30% 40% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: 23.5% FCF margin (TTM), FY15 Q4: 14.4% FCF margin (TTM), FY16 Q4: -4.4% FCF margin (TTM), FY17 Q4: 25.0% FCF margin (TTM), FY18 Q4: 13.3% FCF margin (TTM), FY19 Q4: 8.6% FCF margin (TTM), FY20 Q4: 20.0% FCF margin (TTM), FY21 Q4: 30.6% FCF margin (TTM), FY22 Q4: 17.2% FCF margin (TTM), FY23 Q4: 20.5% FCF margin (TTM), FY24 Q4: 32.4% FCF margin (TTM), FY25 Q4: 24.7% 24.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 23.5%
FY15 Q4 14.4%
FY16 Q4 -4.4%
FY17 Q4 25.0%
FY18 Q4 13.3%
FY19 Q4 8.6%
FY20 Q4 20.0%
FY21 Q4 30.6%
FY22 Q4 17.2%
FY23 Q4 20.5%
FY24 Q4 32.4%
FY25 Q4 24.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Nova took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $881M
  2. Other income $49.8M · 5.7%
  3. Cost of revenue $375M · 42.6%
  4. Gross profit $505M · 57.4%
  5. Research and development $143M · 16.3%
  6. Selling, general and admin $108M · 12.3%
  7. Operating income $253M · 28.8%
  8. Income tax $44.1M · 5.0%
  9. Net income $259M · 29.4%

Shares of revenue. Source: Nova's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 39 87 103 96 112 121 149 164 222 251 225 269 416 571 518 672 881
Gross profit 18 47 58 51 59 64 77 75 131 145 122 151 235 317 293 387 505
EBITDA 4 23 26 13 16 21 16 14 61 66 42 61 119 159 143 199 267
Operating income 2 22 25 11 12 17 12 10 58 60 36 56 112 150 132 188 253
Net income 3 22 28 12 11 19 16 10 46 54 35 48 93 140 136 184 259
Diluted EPS $0.13 $0.86 $1.04 $0.43 $0.38 $0.67 $0.57 $0.35 $1.63 $1.89 $1.23 $1.65 $3.12 $4.43 $4.28 $5.75 $7.96
Growth (year on year)
Revenue — +120.3% +18.7% −6.5% +16.0% +8.2% +23.1% +10.4% +35.4% +13.1% −10.4% +19.8% +54.5% +37.2% −9.3% +29.8% +31.0%
EBITDA — +521.4% +14.2% −49.4% +18.6% +31.6% −22.5% −12.1% +332.2% +6.6% −36.2% +47.0% +93.4% +33.4% −10.1% +39.7% +34.0%
Operating income — +786.1% +13.0% −57.2% +16.5% +37.1% −31.5% −12.2% +468.7% +4.5% −39.8% +52.6% +102.2% +33.4% −11.8% +41.8% +35.2%
Net income — +742.8% +26.8% −57.9% −11.1% +77.4% −15.7% −38.7% +381.7% +17.0% −35.3% +36.2% +94.3% +50.6% −2.8% +34.8% +41.1%
Diluted EPS — +561.5% +20.9% −58.7% −11.6% +76.3% −14.9% −38.6% +365.7% +16.0% −34.9% +34.1% +89.1% +42.0% −3.4% +34.3% +38.4%
Margins
Gross margin 44.7% 54.7% 56.4% 53.2% 53.0% 52.7% 51.9% 45.9% 59.1% 57.8% 54.2% 56.1% 56.6% 55.5% 56.6% 57.6% 57.4%
EBITDA margin 9.5% 26.7% 25.7% 13.9% 14.2% 17.3% 10.9% 8.7% 27.7% 26.1% 18.6% 22.8% 28.6% 27.8% 27.5% 29.6% 30.3%
Operating margin 6.3% 25.2% 24.0% 11.0% 11.1% 14.0% 7.8% 6.2% 26.0% 24.1% 16.2% 20.6% 27.0% 26.3% 25.5% 27.9% 28.8%
Net margin 6.7% 25.6% 27.3% 12.3% 9.4% 15.5% 10.6% 5.9% 20.9% 21.7% 15.6% 17.8% 22.4% 24.6% 26.3% 27.3% 29.4%
Free-cash-flow margin −5.6% 28.0% 22.2% 4.2% 6.2% 23.5% 14.4% −4.4% 25.0% 13.3% 8.6% 20.0% 30.6% 17.2% 20.5% 32.4% 24.7%
Cash flow
Cash from operations −2 26 25 8 11 34 26 −4 62 37 41 60 132 120 124 235 246
Capital spending 0 2 2 4 4 5 4 3 6 4 21 6 5 21 17 17 28
Free cash flow −2 24 23 4 7 28 21 −7 56 33 19 54 127 98 106 218 218
Stock-based pay 0 1 1 2 2 2 3 3 3 4 5 7 10 17 18 25 26
Free cash flow after stock pay −3 24 21 2 5 26 19 −10 53 29 14 47 117 82 88 193 192
Balance sheet
Cash 10 25 19 16 18 14 28 20 28 23 32 232 127 111 108 158 214
Total debt 0 0 0 0 0 0 0 0 0 0 0 179 183 196 198 181 732
Net debt (negative = net cash) −10 −25 −19 −16 −18 −14 −28 −20 −28 −23 −32 −53 56 85 90 23 517
Diluted shares 20m 26m 27m 27m 27m 28m 28m 28m 29m 29m 29m 29m 30m 32m 32m 32m 33m
Returned to shareholders
Buybacks — — — — — 7 4 1 — 5 7 13 0 21 0 30 35
Total returned — — — — — 7 4 1 — 5 7 13 0 21 0 30 35

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · December 31, 2025
What it owns · $2.4bn
Short-term assets $1.4bnLonger-term assets $950m
What it owes, and who funded it · $2.4bn
Short-term liabilities $225mLonger-term liabilities $818mShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $225m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.4bn short-term assets against $818m of longer-dated liabilities.
  • More cash than debt $214m of cash against $732m of debt.
  • Debt below 40% of shareholders' equity Debt is 56% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 48% to 56% over five years.
  • A year's operating cash flow covers at least 20% of debt $246m of operating cash flow against $732m of debt.
  • Operating profit covers interest at least five times over Operating income of $253m against $2m of interest.

From Nova LTD.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$35M
Returned to shareholders
16%
of free cash flow
Buybacks, last 3 fiscal years
$65.1M
Diluted share count
+2.1%
year over year
Total shareholder yield
0.4%
dividends 0.0% + buybacks 0.4% of market value
R&D spending
16.3%
of revenue
Days sales outstanding
63 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductor materials & equipment
Last 12 months unless stated NVMI ACLS KLIC ACMR ONTO VECO Median
Revenue, last 12 months $881m $866m $950m $1.0bn $1.1bn $683m $994m
Revenue growth, last 12 months 31.0% −3.3% 44.4% 27.3% 8.1% −2.5% 15.8%
Revenue growth, 3-year average 99.1% −5.4% 4.8% 31.1% 7.7% 2.1% 7.8%
Revenue growth, latest quarter — 10.6% 122.6% 36.0% 35.3% 16.5% 33.7%
Gross margin 57.4% 43.0% 48.2% 43.8% 50.4% 37.9% 47.7%
Operating margin 28.8% 10.3% 13.2% 13.3% 12.0% 2.7% 13.2%
Operating margin, 3-year average 27.3% 17.2% 0.9% 16.1% 15.9% 7.6% 16.0%
Net margin 29.4% 10.7% 12.2% 14.5% 11.8% 3.4% 10.9%
Cash from operations / revenue 27.9% 8.7% 5.8% −0.6% 23.8% 14.6% 18.6%
Free-cash-flow margin 24.7% 7.6% 4.3% −11.5% 22.5% 12.5% 15.0%
Free-cash-flow margin, 3-year average 26.8% 11.7% 10.0% −8.7% 22.0% 8.1% 11.9%
Stock pay / revenue 3.0% 2.5% 2.9% 2.5% 2.8% 5.3% 2.4%
Change in share count 2.1% −3.7% −1.0% 3.9% 0.3% 2.3% 0.8%

Median of all 20 companies we cover in semiconductor materials & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

20 semiconductor materials & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 31.0% 15.8% 6 of 20
Change in growth rate Growth +1.1pp +7.5pp 18 of 20
Gross margin Profitability 57.4% 48.2% 3 of 19
Operating margin Profitability 28.8% 13.2% 5 of 19
Net margin Profitability 29.4% 11.1% 4 of 20
Free-cash-flow margin Cash generation 24.7% 17.5% 6 of 20
Stock pay as % of revenue Cash generation 3.0% 2.5% 15 of 20
Long-term debt as % of assets Balance sheet 31.0% 22.0% 10 of 13
Change in share count Balance sheet 2.1% 0.9% 12 of 19
Days sales outstanding Balance sheet 63 days 79 days 4 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$11.4B
Institutions reporting
342
Shares held vs prior quarter
▼ 2.1%
Positions opened / closed
51 / 36

Top buyers and sellers, Q2 2026: 169 institutions bought and 165 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+233K shares) and the biggest seller Meitav Investment House Ltd (−572K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $1.5B 2.7M 12.7% ▼ 3.2%
Harel Insurance Investments & Financial Services Ltd. $1.2B 2.1M 10.1% ▼ 1.9%
Migdal Insurance & Financial Holdings Ltd. $880M 1.6M 7.7% ▲ 3.3%
Menora Mivtachim Holdings Ltd. $655M 1.2M 5.7% ▲ 3.5%
Clal Insurance Enterprises Holdings Ltd $651M 1.2M 5.7% 0.0%
Vanguard Capital Management LLC $453M 852K 4.0% ▲ 1.2%
Blackrock, Inc. $391M 721K 3.4% ▲ 15.2%
Phoenix Financial Ltd. $335M 618K 2.9% ▲ 7.0%
Bank Of America Corp $308M 568K 2.7% ▲ 26.3%
Capital World Investors $303M 559K 2.7% ▲ 2.7%
Wasatch Advisors LP $278M 513K 2.4% ▼ 39.9%
Renaissance Technologies LLC $244M 449K 2.1% ▼ 12.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Nova LTD.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.7M 14 trades by 6 insiders · 100% under pre-set plans
Net ▼ $6.7M net selling
Insider Date Trade Shares Price Value
Wolfing Shay CTO September 21, 2026 Sell pre-set plan 3,864 $363.28 $1.4M
Waisman Gabriel CEO & President September 1, 2026 Sell pre-set plan 1,500 $342.27 $513,405
Waisman Gabriel CEO & President July 2, 2026 Sell pre-set plan 2,966 $501.30 $1.5M
Sagiv Sarit Director June 23, 2026 Sell pre-set plan 454 $536.52 $243,580
Simon Zehava Director June 23, 2026 Sell pre-set plan 454 $536.52 $243,580
Oppenhaim Eitan Director June 22, 2026 Sell pre-set plan 1,290 $581.20 $749,748
Sagiv Sarit Director June 22, 2026 Sell pre-set plan 366 $581.20 $212,719
Simon Zehava Director June 22, 2026 Sell pre-set plan 366 $581.20 $212,719
Garty Yaniv Director June 22, 2026 Sell pre-set plan 366 $581.20 $212,719
Oppenhaim Eitan Director May 26, 2026 Sell pre-set plan 1,504 $519.48 $781,298
Garty Yaniv Director May 18, 2026 Sell pre-set plan 426 $514.49 $219,173
Simon Zehava Director May 18, 2026 Sell pre-set plan 426 $514.49 $219,173

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Nova LTD. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Nova LTD. in brief

What does Nova LTD. do?
Nova LTD. is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.
What is Nova LTD.'s stock ticker?
Nova LTD. trades under the ticker NVMI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Nova LTD.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Nova LTD. reported revenue of $881M, 31.0% higher than a year earlier, according to its SEC filings.
What is Nova LTD.'s free cash flow?
Nova LTD.'s free-cash-flow margin is 24.7% of revenue over the trailing twelve months, ranking 6 of the 20 semiconductor materials & equipment companies we cover.
What is Nova LTD.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Nova LTD.'s free cash flow after stock-based pay gives ~$200 per share in the base case, and ~$150–$260 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Nova LTD.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Harel Insurance Investments & Financial Services Ltd. and Migdal Insurance & Financial Holdings Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Nova LTD. buying back stock, and does it pay a dividend?
Nova LTD. spent $35M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.1% over the year.
What is Nova LTD.'s market cap?
On December 31, 2025, Nova LTD.'s market capitalisation was about $10.8B, with a price-to-earnings ratio of 41.6 and net debt of $517M. Market figures come from third-party market data and may be delayed.
How much debt does Nova LTD. have?
Nova LTD.'s debt-to-equity ratio is 55.5%, from its latest balance sheet (48.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Nova LTD.'s competitors?
In our Semiconductor Materials & Equipment peer group, the companies closest to Nova LTD. are Axcelis Technologies Inc, Kulicke & Soffa Industries Inc, ACM Research, Inc., Onto Innovation Inc. and Veeco Instruments Inc. The side-by-side comparison below sets their revenue, margins and growth against Nova LTD.'s.
Are insiders buying or selling Nova LTD. stock?
Over the last 12 months, Nova LTD.'s directors and officers reported 0 open-market purchases and 14 sales on Form 4. The insider trading page charts every trade.
When is Nova LTD.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Nova LTD. announces its own schedule.