Nova LTD. key statistics and ratios

In fiscal 2025, Nova LTD. had return on equity of 23.1% and a net margin of 29.4%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Nova LTD.: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
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%
Return on equity	9.8%	46.5%	33.4%	11.0%	8.6%	13.7%	10.3%	5.7%	23.1%	21.4%	11.8%	14.0%	22.0%	26.4%	20.4%	21.9%	23.1%
Return on assets	—	23.7%	26.0%	8.9%	6.9%	11.1%	8.3%	4.5%	18.5%	17.6%	9.6%	9.1%	12.7%	15.7%	12.9%	14.6%	13.8%
Effective tax rate	—	—	−9.8%	1.0%	19.3%	−6.7%	−28.6%	15.3%	22.7%	14.3%	10.9%	15.2%	14.8%	11.5%	11.9%	15.0%	14.5%
R&D as % of revenue	17.5%	14.4%	18.2%	25.6%	26.5%	24.5%	26.7%	21.4%	17.5%	18.1%	19.8%	19.7%	15.8%	15.8%	17.0%	16.4%	16.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Nova LTD.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Nova LTD.