Novanta (NOVT) financial statements
Novanta reported revenue of $981M in fiscal 2025, up 11.0% a year over 9 years.
Net income was $54M and the operating margin 9.6%, against 8.6% in 2016.
Free cash flow was $48M, and the company returned $39M in net buybacks.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Novanta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $385M | $521M | $614M | $626M | $591M | $707M | $861M | $882M | $949M | $981M |
| Cost of revenue | $222M | $301M | $353M | $364M | $346M | $406M | $482M | $482M | $528M | $545M |
| Gross profit | $162M | $221M | $262M | $262M | $245M | $300M | $378M | $400M | $422M | $435M |
| Research and development | $32M | $42M | $51M | $56M | $61M | $73M | $86M | $92M | $96M | $95M |
| Selling, general and admin | $81M | $102M | $116M | $118M | $110M | $129M | $159M | $164M | $176M | $196M |
| Operating income | $33M | $58M | $71M | $55M | $56M | $64M | $103M | $110M | $111M | $94M |
| Pre-tax income | $33M | $76M | $61M | $46M | $48M | $56M | $87M | $84M | $79M | $70M |
| Income tax | $11M | $14M | $10M | $5M | $4M | $6M | $13M | $11M | $15M | $16M |
| Net income | $22M | $60M | $49M | $41M | $45M | $50M | $74M | $73M | $64M | $54M |
| EPS (diluted) | $0.63 | $1.13 | $1.43 | $1.15 | $1.25 | $1.41 | $2.06 | $2.02 | $1.77 | $1.47 |
| Diluted shares | 35M | 35M | 35M | 36M | 36M | 36M | 36M | 36M | 36M | 37M |
| Gross margin | 42.2% | 42.3% | 42.6% | 41.9% | 41.4% | 42.5% | 44.0% | 45.4% | 44.4% | 44.4% |
| Operating margin | 8.6% | 11.0% | 11.6% | 8.8% | 9.5% | 9.1% | 12.0% | 12.5% | 11.6% | 9.6% |
| Net margin | 5.7% | 11.5% | 8.0% | 6.5% | 7.5% | 7.1% | 8.6% | 8.3% | 6.8% | 5.5% |
Balance sheet
Fiscal years, from Novanta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $68M | $100M | $82M | $79M | $125M | $117M | $100M | $105M | $114M | $381M |
| Receivables | $64M | $81M | $84M | $91M | $75M | $116M | $138M | $139M | $151M | $185M |
| Inventory | $60M | $91M | $105M | $117M | $93M | $126M | $168M | $149M | $145M | $188M |
| Total current assets | $199M | $288M | $282M | $305M | $304M | $374M | $421M | $415M | $434M | $783M |
| Property, plant and equipment | $35M | $62M | $65M | $78M | $79M | $87M | $103M | $109M | $113M | $118M |
| Goodwill | $108M | $211M | $218M | $275M | $286M | $480M | $479M | $485M | $584M | $647M |
| Total assets | $426M | $727M | $720M | $870M | $865M | $1.2B | $1.2B | $1.2B | $1.4B | $1.8B |
| Total current liabilities | $70M | $98M | $104M | $135M | $114M | $184M | $165M | $139M | $168M | $212M |
| Long-term debt | $71M | $226M | $203M | $215M | $195M | $429M | $431M | $349M | $412M | $213M |
| Total liabilities | $167M | $368M | $351M | $453M | $388M | $707M | $664M | $553M | $643M | $493M |
| Shareholders' equity | $259M | $312M | $368M | $417M | $477M | $521M | $578M | $673M | $746M | $1.3B |
| Net debt | $10M | $135M | $125M | $141M | $75M | $317M | $335M | $249M | $303M | -$130M |
Cash flow
Fiscal years, from Novanta's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $48M | $63M | $90M | $63M | $140M | $95M | $91M | $120M | $159M | $64M |
| Capital spending | $8M | $9M | $15M | $11M | $11M | $20M | $20M | $20M | $17M | $16M |
| Free cash flow | $39M | $54M | $75M | $53M | $130M | $75M | $71M | $100M | $141M | $48M |
| Stock-based compensation | $4M | $5M | $8M | $9M | $23M | $26M | $23M | $26M | $23M | $30M |
| Share buybacks (net) | -$2M | -$370,000 | -$6M | -$10M | -$6M | — | -$10M | — | — | -$39M |
| Net borrowing | -$16M | $150M | -$19M | $16M | -$35M | $248M | $11M | -$87M | $67M | -$283M |
| Free cash flow margin | 10.2% | 10.4% | 12.2% | 8.4% | 22.0% | 10.6% | 8.3% | 11.4% | 14.9% | 4.9% |
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Open NOVT in InvestinglyQuestions
What was Novanta's revenue in 2025?
$981M in fiscal 2025, from its 10-K filing.
How much free cash flow does Novanta generate?
$48M in fiscal 2025 (operating cash flow minus capital spending).
From Novanta's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.