Also trades as: 0VAG.L (LSE) · $vol 0M

$149.27

+5.69 (+3.96%)

Weekly Expected Move ±5.8%

$132 $141 $149 $158 $167

NASDAQ · Technology · Hardware, Equipment & Parts · Tech Score Buy · Power 63 · $5.3B mcap · 35M float · 1.30% daily turnover · Short 75% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

48.7 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 6.6% · 5Y Avg: 44.8%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. NOVT shows a Weak competitive edge (48.7/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Efficient Scale. ROIC of 6.6% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$194

Low

$194

Avg Target

$194

High

Based on 1 analyst since Aug 5, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 2Hold: 1Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$194.00

Analysts1

Consensus Change History

Date	Field	From	To
2026-03-31	consensus	Hold	Buy

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-07	Robert W. Baird	—	$180	$194	+14	+15.3%	$168.29
2026-06-09	Robert W. Baird	Quinn Fredrickson	$150	$180	+30	+9.5%	$164.34
2026-02-25	Robert W. Baird	Robert Mason	$160	$150	-10	+11.4%	$134.67
2025-03-03	Robert W. Baird	—	$175	$160	-15	+11.6%	$143.37
2024-08-07	Robert W. Baird	Robert Mason	Initiated	$175	—	+0.4%	$174.36

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C+

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. NOVT receives an overall rating of C+. Areas of concern: ROE (2/5), D/E (2/5), P/E (1/5), P/B (2/5).

Rating Change History

Date	From	To
2026-10-01	B-	C+
2026-05-11	B	B-
2026-05-11	B-	B
2026-02-23	C+	B-
2026-01-03	B-	C+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 56 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. NOVT scores highest in Safety (100/100) and lowest in Profitability (29/100). An overall grade of A places NOVT among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

8.98

Safe Zone

Piotroski F-Score

6/9

✓ ✓ ✗ ✓ ✓ ✓ ✗ ✓ ✗

Beneish M-Score

-2.62

Unlikely Manipulator

Ohlson O-Score

-9.70

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA-

Score: 84.3/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 2.17x

Accruals: -3.9%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. NOVT scores 8.98, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. NOVT scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. NOVT's score of -2.62 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. NOVT's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. NOVT receives an estimated rating of AA- (score: 84.3/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). NOVT's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

93.88x

PEG

-14.51x

P/S

5.16x

P/B

3.79x

P/FCF

58.25x

P/OCF

49.74x

EV/EBITDA

44.57x

EV/Revenue

6.04x

EV/EBIT

67.15x

EV/FCF

54.44x

Earnings Yield

0.93%

FCF Yield

1.72%

Shareholder Yield

0.78%

Graham Number

$36.41

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 93.9x earnings, NOVT is priced for high growth expectations. Graham's intrinsic value formula yields $36.41 per share, 310% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.775

NI / EBT

Interest Burden

0.860

EBT / EBIT

EBIT Margin

0.090

EBIT / Rev

Asset Turnover

0.564

Rev / Assets

Equity Multiplier

1.510

Assets / Equity

ROE

5.1%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. NOVT's ROE of 5.1% is driven by Asset Turnover (0.564), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$12.75

Price/Value

12.68x

Margin of Safety

-1168.02%

Premium

1168.02%

Assessment

Overvalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with NOVT's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. NOVT trades at a 1168% premium to its adjusted intrinsic value of $12.75, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 93.9x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$149.27

Median 1Y

$150.50

5th Pctile

$76.07

95th Pctile

$295.92

Ann. Volatility

41.7%

Analyst Target

$194.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Matthijs Glastra Chief Executive Officer	$863,039	$8,275,535	$10,042,292
Robert J. Buckley Chief Financial Officer	$569,826	$3,811,084	$4,756,825
John Lesica Co-Chief Operating Officer	$499,423	$2,739,005	$3,935,964
Charles G. Ravetto Co-Chief Operating Officer	$491,864	$1,488,884	$2,262,093
Michele D. Welsh Former General Counsel and Corporate Secretary	$230,921	$871,215	$2,184,535
Alexander Manganiello General Counsel and Corporate Secretary	$19,808	$—	$19,943

CEO Pay Ratio

154:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $10,042,292

Avg Employee Cost (SGA/emp): $65,220

Employees: 3,000

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

3,000

0.0% YoY

Revenue / Employee

$326,867

Rev: $980,600,000

Profit / Employee

$17,943

NI: $53,829,000

SGA / Employee

$65,220

Avg labor cost proxy

R&D / Employee

$31,828

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	10.4%	10.1%	11.4%	12.4%	13.9%	13.5%	13.0%	13.3%	12.7%	11.7%	10.8%	9.4%	8.7%	9.0%	9.7%	8.2%	6.8%	5.2%	5.2%	5.1%	5.11%
ROA	4.8%	4.8%	5.6%	6.1%	6.0%	6.0%	6.0%	6.3%	6.3%	5.9%	5.3%	4.7%	4.6%	4.9%	5.1%	4.2%	3.6%	3.4%	3.4%	3.4%	3.38%
ROIC	7.8%	8.2%	8.5%	9.2%	8.9%	9.4%	9.6%	10.0%	10.5%	9.9%	8.1%	7.7%	7.4%	8.1%	8.5%	7.0%	6.1%	6.1%	6.2%	6.6%	6.61%
ROCE	5.7%	6.1%	7.5%	8.4%	9.5%	9.5%	9.9%	10.7%	11.5%	11.3%	9.7%	9.4%	9.3%	10.2%	10.4%	9.4%	8.5%	6.6%	6.5%	4.9%	4.89%
Gross Margin	40.6%	39.0%	40.6%	40.9%	41.2%	40.8%	44.6%	45.4%	45.9%	45.6%	43.5%	44.0%	44.7%	45.5%	44.7%	44.3%	44.8%	40.7%	41.8%	45.5%	45.49%
Operating Margin	13.2%	11.7%	11.1%	12.0%	13.6%	13.1%	12.0%	14.0%	13.7%	10.2%	11.1%	10.9%	13.3%	11.2%	13.9%	6.2%	8.8%	11.9%	11.7%	6.8%	6.79%
Net Margin	7.7%	6.9%	9.2%	8.1%	10.1%	7.0%	8.3%	9.1%	9.6%	5.9%	6.4%	5.8%	7.9%	6.9%	9.1%	1.9%	4.3%	6.8%	8.2%	4.7%	4.72%
EBITDA Margin	14.7%	17.3%	18.5%	17.3%	19.7%	16.8%	18.5%	19.8%	20.9%	17.9%	17.7%	18.0%	20.1%	19.9%	18.7%	17.9%	15.1%	16.5%	16.4%	6.4%	6.40%
FCF Margin	14.4%	10.6%	8.0%	6.9%	6.6%	8.8%	8.9%	9.4%	12.5%	11.4%	13.4%	14.8%	12.4%	14.9%	15.0%	12.3%	10.7%	4.9%	6.7%	11.1%	11.10%
OCF Margin	17.2%	13.4%	11.1%	9.6%	9.1%	11.0%	10.7%	11.0%	14.4%	13.6%	16.0%	17.5%	14.7%	16.7%	16.5%	13.7%	12.2%	6.5%	8.2%	13.0%	13.00%
ROE 3Y Avg	snapshot only																				6.78%
ROE 5Y Avg	snapshot only																				8.92%
ROA 3Y Avg	snapshot only																				3.80%
ROIC 3Y Avg	snapshot only																				12.15%
ROIC Economic	snapshot only																				4.16%
Cash ROA	snapshot only																				6.26%
Cash ROIC	snapshot only																				11.34%
CROIC	snapshot only																				9.68%
NOPAT Margin	snapshot only																				7.58%
Pretax Margin	snapshot only																				7.74%
R&D / Revenue	snapshot only																				9.15%
SGA / Revenue	snapshot only																				21.11%
SBC / Revenue	snapshot only																				3.36%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	111.36	125.46	87.37	67.50	57.28	66.05	77.92	86.27	68.36	83.37	91.12	94.70	106.02	86.17	66.04	76.43	68.93	85.51	89.67	107.78	93.881
P/S Ratio	8.37	8.93	6.75	5.40	4.94	5.68	6.54	7.45	5.82	6.89	7.07	6.54	6.91	5.82	4.90	4.90	3.79	4.69	4.79	6.47	5.162
P/B Ratio	10.96	12.11	9.45	8.07	7.66	8.47	9.58	10.60	8.02	9.02	9.26	8.39	8.59	7.41	6.06	5.85	4.54	3.50	3.67	4.12	3.787
P/FCF	58.11	84.59	84.67	78.22	74.28	64.40	73.87	78.98	46.64	60.69	52.66	44.20	55.53	39.07	32.77	39.79	35.49	95.04	71.68	58.25	58.252
P/OCF	48.75	66.73	61.11	56.48	54.48	51.61	61.13	67.86	40.29	50.60	44.26	37.36	46.90	34.84	29.64	35.71	31.17	71.85	58.26	49.74	49.739
EV/EBITDA	59.63	62.56	43.72	34.31	29.72	33.86	38.59	42.03	32.56	37.52	39.89	37.83	39.93	32.69	27.39	27.79	23.65	27.35	28.49	44.57	44.565
EV/Revenue	8.98	9.47	7.25	5.85	5.43	6.13	6.99	7.87	6.19	7.23	7.60	7.03	7.37	6.19	5.25	5.32	4.22	4.65	4.70	6.04	6.042
EV/EBIT	101.24	105.27	70.89	55.28	45.73	51.38	56.80	59.52	45.20	51.70	55.47	53.96	57.85	47.30	39.57	40.55	36.12	43.50	45.76	67.15	67.148
EV/FCF	62.34	89.63	90.96	84.82	81.65	69.53	78.94	83.40	49.60	63.68	56.64	47.49	59.21	41.59	35.13	43.21	39.54	94.23	70.22	54.44	54.438
Earnings Yield	0.9%	0.8%	1.1%	1.5%	1.7%	1.5%	1.3%	1.2%	1.5%	1.2%	1.1%	1.1%	0.9%	1.2%	1.5%	1.3%	1.5%	1.2%	1.1%	0.9%	0.93%
FCF Yield	1.7%	1.2%	1.2%	1.3%	1.3%	1.6%	1.4%	1.3%	2.1%	1.6%	1.9%	2.3%	1.8%	2.6%	3.1%	2.5%	2.8%	1.1%	1.4%	1.7%	1.72%
Price/Tangible Book	snapshot only																				8.176
EV/OCF	snapshot only																				46.482
EV/Gross Profit	snapshot only																				13.987
Acquirers Multiple	snapshot only																				61.753
Shareholder Yield	snapshot only																				0.78%
Graham Number	snapshot only																				$36.41

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	1.88	2.03	2.05	2.01	2.58	2.56	2.84	3.05	2.83	2.98	2.83	2.77	2.79	2.58	2.56	2.54	2.51	3.69	3.56	4.57	4.569
Quick Ratio	1.24	1.35	1.29	1.24	1.55	1.53	1.67	1.85	1.72	1.91	1.77	1.73	1.81	1.72	1.70	1.62	1.54	2.80	2.69	3.79	3.786
Debt/Equity	1.00	0.95	0.89	0.87	0.92	0.85	0.80	0.74	0.63	0.60	0.84	0.77	0.69	0.63	0.57	0.64	0.63	0.26	0.22	0.17	0.175
Net Debt/Equity	0.80	0.72	0.70	0.68	0.76	0.67	0.66	0.59	0.51	0.44	0.70	0.63	0.57	0.48	0.44	0.50	0.52	-0.03	-0.07	-0.27	-0.270
Debt/Assets	0.41	0.40	0.39	0.38	0.41	0.39	0.39	0.37	0.34	0.33	0.40	0.38	0.36	0.34	0.32	0.34	0.34	0.19	0.16	0.13	0.132
Debt/EBITDA	5.08	4.61	3.82	3.41	3.23	3.14	3.00	2.77	2.39	2.38	3.35	3.21	3.02	2.62	2.42	2.80	2.95	2.05	1.75	2.03	2.026
Net Debt/EBITDA	4.05	3.52	3.03	2.67	2.68	2.50	2.48	2.22	1.94	1.76	2.80	2.62	2.48	1.98	1.84	2.20	2.43	-0.24	-0.59	-3.12	-3.122
Interest Coverage	9.71	8.60	8.43	8.05	7.79	6.58	5.72	5.14	4.75	4.78	4.41	4.02	3.85	3.95	4.38	4.75	4.61	4.89	5.84	7.15	7.148
Equity Multiplier	2.42	2.36	2.26	2.27	2.23	2.15	2.05	1.97	1.85	1.82	2.07	1.99	1.91	1.86	1.80	1.89	1.88	1.37	1.37	1.32	1.324
Cash Ratio	snapshot only																				2.923
Debt Service Coverage	snapshot only																				10.770
Cash to Debt	snapshot only																				2.541
FCF to Debt	snapshot only																				0.404
Defensive Interval	snapshot only																				952.1 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.63	0.68	0.73	0.76	0.70	0.70	0.72	0.73	0.74	0.71	0.68	0.68	0.71	0.73	0.68	0.66	0.66	0.61	0.63	0.56	0.564
Inventory Turnover	3.53	3.87	3.90	3.82	3.55	3.47	3.33	3.20	3.13	3.04	2.99	3.08	3.33	3.59	3.43	3.22	3.17	3.33	3.39	3.24	3.243
Receivables Turnover	6.75	7.41	7.00	7.24	6.56	6.80	6.60	6.48	6.18	6.36	6.11	6.21	6.00	6.54	6.04	6.25	5.73	5.84	5.94	6.06	6.058
Payables Turnover	7.37	7.59	7.21	7.24	6.93	7.08	7.37	7.14	6.91	7.28	7.14	7.33	7.73	7.87	6.84	6.60	6.28	6.44	6.43	6.27	6.274
DSO	54	49	52	50	56	54	55	56	59	57	60	59	61	56	60	58	64	63	61	60	60.3 days
DIO	103	94	94	96	103	105	110	114	117	120	122	118	110	102	106	113	115	110	108	113	112.6 days
DPO	50	48	51	50	53	52	49	51	53	50	51	50	47	46	53	55	58	57	57	58	58.2 days
Cash Conversion Cycle	108	95	95	95	106	107	115	119	123	127	131	127	123	111	113	116	121	116	112	115	114.6 days
Fixed Asset Turnover	snapshot only																				6.183
Operating Cycle	snapshot only																				172.8 days
Cash Velocity	snapshot only																				1.433
Capital Intensity	snapshot only																				2.078

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	8.7%	19.7%	25.2%	28.3%	28.4%	21.8%	17.0%	11.8%	5.6%	2.4%	2.0%	1.1%	3.9%	7.7%	6.5%	6.3%	4.1%	3.3%	5.6%	7.6%	7.61%
Net Income	19.8%	13.1%	31.8%	45.0%	47.3%	47.1%	27.1%	20.8%	4.3%	-1.6%	-5.7%	-19.2%	-20.5%	-12.1%	1.9%	-1.3%	-12.2%	-16.0%	-23.9%	0.7%	0.66%
EPS	19.6%	13.0%	31.8%	44.4%	46.7%	46.4%	26.3%	20.5%	3.9%	-1.8%	-6.1%	-19.3%	-20.7%	-12.2%	1.9%	-1.2%	-11.9%	-21.5%	-33.2%	-11.8%	-11.78%
FCF	-19.0%	-41.3%	-55.5%	-55.7%	-40.7%	1.7%	29.9%	52.9%	98.2%	31.8%	54.6%	58.6%	3.6%	41.2%	18.7%	-11.5%	-10.6%	-65.7%	-52.8%	-3.0%	-3.04%
EBITDA	2.7%	14.7%	36.5%	44.8%	55.8%	45.8%	27.7%	22.7%	9.9%	9.0%	7.3%	0.3%	0.8%	5.8%	7.3%	9.6%	0.8%	-7.2%	-9.3%	-23.8%	-23.82%
Op. Income	29.2%	37.5%	50.8%	48.1%	37.7%	30.9%	23.6%	23.3%	15.0%	2.8%	-1.2%	-12.0%	-10.1%	0.1%	6.9%	3.2%	-9.2%	-9.7%	-16.9%	-5.5%	-5.49%
OCF Growth	snapshot only																				1.90%
Asset Growth	snapshot only																				41.59%
Equity Growth	snapshot only																				1.02%
Debt Growth	snapshot only																				-44.91%
Shares Change	snapshot only																				14.10%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	2.7%	4.8%	6.2%	8.2%	10.6%	11.2%	11.9%	13.2%	13.8%	14.3%	14.3%	13.2%	12.1%	10.3%	8.3%	6.3%	4.5%	4.4%	4.7%	5.0%	4.98%
Revenue 5Y	11.7%	12.9%	13.2%	13.4%	12.2%	10.6%	9.4%	8.5%	8.0%	7.5%	7.4%	7.4%	8.2%	8.7%	8.8%	9.3%	9.8%	10.7%	10.9%	10.7%	10.66%
EPS 3Y	1.8%	0.5%	5.1%	8.8%	18.5%	21.6%	21.5%	22.1%	22.2%	17.5%	16.1%	12.0%	6.5%	8.0%	6.5%	-1.3%	-10.1%	-12.2%	-13.9%	-11.1%	-11.08%
EPS 5Y	18.8%	17.4%	0.9%	1.3%	3.6%	3.6%	13.9%	14.0%	10.0%	7.9%	6.6%	4.6%	6.5%	9.1%	11.4%	7.7%	4.9%	2.3%	1.3%	4.1%	4.10%
Net Income 3Y	2.0%	0.8%	5.4%	9.2%	18.9%	22.0%	22.0%	22.6%	22.6%	17.9%	16.4%	12.3%	6.9%	8.4%	6.9%	-1.2%	-10.0%	-10.1%	-9.9%	-7.0%	-7.04%
Net Income 5Y	19.3%	18.0%	1.3%	1.6%	4.2%	4.3%	14.3%	14.4%	10.3%	8.2%	7.0%	4.9%	6.8%	9.5%	11.8%	8.0%	5.2%	3.9%	4.1%	7.1%	7.07%
EBITDA 3Y	-5.3%	-2.7%	2.5%	5.7%	11.6%	12.0%	13.5%	17.4%	20.7%	22.1%	23.2%	21.2%	20.0%	18.9%	13.7%	10.5%	3.7%	2.3%	1.5%	-5.7%	-5.73%
EBITDA 5Y	12.1%	11.9%	12.5%	12.0%	12.1%	10.0%	8.7%	8.9%	7.8%	7.9%	8.1%	7.8%	9.0%	10.1%	11.0%	12.2%	12.3%	12.3%	12.7%	8.3%	8.27%
Gross Profit 3Y	0.7%	2.8%	4.3%	6.4%	9.3%	10.2%	12.4%	15.6%	18.0%	20.2%	19.7%	17.5%	15.7%	14.1%	12.2%	10.1%	8.1%	6.7%	5.5%	5.1%	5.12%
Gross Profit 5Y	11.1%	11.8%	11.9%	11.8%	11.1%	9.8%	9.2%	9.0%	8.6%	8.9%	8.7%	8.6%	9.5%	9.9%	10.5%	11.6%	12.5%	13.1%	12.9%	12.4%	12.37%
Op. Income 3Y	-0.1%	4.9%	9.7%	12.9%	20.8%	24.8%	25.8%	27.5%	26.9%	22.8%	22.6%	17.1%	12.5%	10.4%	9.3%	3.8%	-2.1%	-2.4%	-4.2%	-5.0%	-4.97%
Op. Income 5Y	23.8%	20.3%	17.4%	14.5%	15.4%	13.3%	11.5%	12.3%	9.5%	9.2%	10.0%	9.3%	12.7%	14.9%	16.0%	13.5%	10.8%	10.8%	10.4%	9.4%	9.40%
FCF 3Y	7.7%	-0.2%	-0.5%	-1.3%	13.0%	13.1%	7.6%	1.0%	-1.6%	-7.6%	-3.7%	2.4%	6.8%	23.7%	33.6%	29.0%	22.4%	-13.9%	-4.7%	10.8%	10.81%
FCF 5Y	22.5%	16.1%	8.1%	4.9%	5.7%	6.9%	5.0%	6.6%	8.0%	5.9%	14.6%	18.4%	24.2%	21.9%	18.0%	7.6%	-2.5%	-17.5%	-12.9%	-1.6%	-1.61%
OCF 3Y	7.8%	1.8%	3.5%	2.7%	15.3%	14.4%	7.4%	1.3%	-0.2%	-5.0%	-0.7%	3.8%	6.5%	18.8%	23.9%	20.0%	15.3%	-12.2%	-4.1%	11.0%	11.04%
OCF 5Y	21.4%	14.6%	9.6%	7.3%	7.0%	8.4%	5.7%	5.7%	7.4%	6.0%	13.8%	17.6%	22.3%	20.2%	15.8%	6.9%	-2.0%	-14.5%	-10.7%	-1.0%	-0.99%
Assets 3Y	16.8%	19.5%	17.0%	15.5%	12.1%	12.6%	13.3%	12.7%	11.7%	12.3%	18.3%	16.8%	5.4%	4.2%	4.7%	7.8%	7.6%	13.3%	13.6%	20.2%	20.18%
Assets 5Y	23.8%	23.6%	17.6%	17.0%	10.8%	11.3%	10.8%	10.7%	9.5%	11.2%	13.4%	12.3%	10.6%	9.8%	10.5%	11.9%	11.9%	15.9%	16.1%	19.5%	19.50%
Equity 3Y	11.6%	12.3%	12.1%	11.3%	10.4%	11.5%	13.1%	13.2%	12.6%	12.2%	12.7%	12.5%	14.1%	12.7%	12.9%	14.6%	13.9%	31.5%	29.9%	37.2%	37.19%
Book Value 3Y	11.3%	11.9%	11.8%	10.8%	10.1%	11.1%	12.7%	12.7%	12.3%	11.9%	12.4%	12.2%	13.7%	12.3%	12.5%	14.5%	13.8%	28.4%	24.2%	31.2%	31.23%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.77	0.79	0.81	0.84	0.84	0.81	0.77	0.76	0.77	0.78	0.79	0.82	0.88	0.95	0.96	0.95	0.91	0.91	0.91	0.92	0.920
Earnings Stability	0.13	0.13	0.03	0.03	0.11	0.12	0.69	0.72	0.72	0.69	0.70	0.56	0.58	0.69	0.82	0.45	0.14	0.14	0.15	0.12	0.119
Margin Stability	0.97	0.96	0.97	0.96	0.97	0.97	0.97	0.97	0.95	0.94	0.95	0.95	0.95	0.95	0.95	0.95	0.94	0.94	0.95	0.96	0.955
Rev. Growth Consistency	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00	0.00	0.00	0.50	0.500
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.92	0.95	0.87	0.82	0.81	0.81	0.89	0.92	0.98	0.99	0.98	0.92	0.92	0.95	0.99	0.99	0.95	0.94	0.90	1.00	0.997
Earnings Smoothness	0.82	0.88	0.73	0.63	0.62	0.62	0.76	0.81	0.96	0.98	0.94	0.79	0.77	0.87	0.98	0.99	0.87	0.83	0.73	0.99	0.993
ROE Trend	-0.00	0.00	0.01	0.03	0.04	0.03	0.02	0.02	0.00	-0.00	-0.01	-0.03	-0.04	-0.03	-0.02	-0.03	-0.03	-0.06	-0.06	-0.04	-0.044
Gross Margin Trend	-0.00	-0.00	-0.00	0.00	0.00	0.01	0.02	0.03	0.04	0.05	0.04	0.03	0.02	0.01	0.01	0.01	0.01	-0.01	-0.02	-0.02	-0.015
FCF Margin Trend	0.02	-0.04	-0.08	-0.10	-0.10	-0.07	-0.06	-0.04	0.02	0.02	0.05	0.07	0.03	0.05	0.04	0.00	-0.02	-0.08	-0.08	-0.02	-0.025
Sustainable Growth Rate	10.4%	10.1%	11.4%	12.4%	13.9%	13.5%	13.0%	13.3%	12.7%	11.7%	10.8%	9.4%	8.7%	9.0%	9.7%	8.2%	6.8%	5.2%	5.2%	5.1%	5.11%
Internal Growth Rate	5.0%	5.1%	6.0%	6.5%	6.4%	6.4%	6.4%	6.7%	6.7%	6.3%	5.5%	5.0%	4.8%	5.2%	5.3%	4.4%	3.7%	3.5%	3.5%	3.5%	3.50%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	2.28	1.88	1.43	1.20	1.05	1.28	1.27	1.27	1.70	1.65	2.06	2.53	2.26	2.47	2.23	2.14	2.21	1.19	1.54	2.17	2.167
FCF/OCF	0.84	0.79	0.72	0.72	0.73	0.80	0.83	0.86	0.86	0.83	0.84	0.85	0.84	0.89	0.90	0.90	0.88	0.76	0.81	0.85	0.854
FCF/Net Income	snapshot only																				1.850
OCF/EBITDA	snapshot only																				0.959
CapEx/Revenue	2.8%	2.8%	3.1%	2.7%	2.4%	2.2%	1.8%	1.5%	2.0%	2.3%	2.5%	2.7%	2.3%	1.8%	1.6%	1.4%	1.5%	1.6%	1.5%	1.9%	1.90%
CapEx/Depreciation	snapshot only																				0.417
Accruals Ratio	-0.06	-0.04	-0.02	-0.01	-0.00	-0.02	-0.02	-0.02	-0.04	-0.04	-0.06	-0.07	-0.06	-0.07	-0.06	-0.05	-0.04	-0.01	-0.02	-0.04	-0.039
Sloan Accruals	snapshot only																				0.302
Cash Flow Adequacy	snapshot only																				6.843
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	24.9%	24.3%	21.2%	34.8%	13.5%	12.9%	13.0%	0.4%	0.3%	0.0%	12.1%	13.5%	13.9%	13.1%	8.7%	10.2%	39.5%	73.7%	97.1%	84.3%	84.27%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.2%	0.2%	0.2%	0.5%	0.2%	0.2%	0.2%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.2%	0.1%	0.1%	0.6%	0.9%	1.1%	0.8%	0.78%
Net Buyback Yield	0.2%	0.2%	0.2%	0.5%	0.2%	0.2%	0.2%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.2%	0.1%	0.1%	0.6%	-12.5%	-11.7%	-12.8%	-12.80%
Total Shareholder Return	0.2%	0.2%	0.2%	0.5%	0.2%	0.2%	0.2%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.2%	0.1%	0.1%	0.6%	-12.5%	-11.7%	-12.8%	-12.80%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.94	0.90	0.86	0.86	0.83	0.85	0.85	0.85	0.87	0.87	0.86	0.85	0.81	0.81	0.80	0.79	0.77	0.77	0.77	0.78	0.775
Interest Burden (EBT/EBIT)	0.90	0.88	0.88	0.88	0.87	0.85	0.80	0.77	0.71	0.68	0.66	0.62	0.63	0.64	0.70	0.61	0.61	0.66	0.67	0.86	0.860
EBIT Margin	0.09	0.09	0.10	0.11	0.12	0.12	0.12	0.13	0.14	0.14	0.14	0.13	0.13	0.13	0.13	0.13	0.12	0.11	0.10	0.09	0.090
Asset Turnover	0.63	0.68	0.73	0.76	0.70	0.70	0.72	0.73	0.74	0.71	0.68	0.68	0.71	0.73	0.68	0.66	0.66	0.61	0.63	0.56	0.564
Equity Multiplier	2.17	2.10	2.04	2.03	2.32	2.25	2.15	2.11	2.02	1.97	2.06	1.98	1.88	1.84	1.93	1.94	1.89	1.55	1.53	1.51	1.510

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$1.38	$1.41	$1.62	$1.77	$2.02	$2.06	$2.04	$2.13	$2.10	$2.02	$1.92	$1.72	$1.66	$1.77	$1.95	$1.70	$1.47	$1.39	$1.31	$1.50	$1.50
Book Value/Share	$13.98	$14.56	$14.94	$14.81	$15.09	$16.04	$16.61	$17.37	$17.89	$18.67	$18.87	$19.45	$20.54	$20.63	$21.31	$22.22	$22.24	$33.98	$31.85	$39.27	$39.42
Tangible Book/Share	$-6.26	$-5.00	$-4.18	$-3.55	$-2.84	$-2.14	$-1.48	$-0.51	$0.45	$1.22	$-3.41	$-2.55	$-1.39	$-0.67	$0.08	$-1.42	$-1.09	$12.57	$12.08	$19.78	$19.78
Revenue/Share	$18.32	$19.74	$20.92	$22.16	$23.42	$23.91	$24.33	$24.70	$24.65	$24.44	$24.73	$24.93	$25.54	$26.26	$26.34	$26.52	$26.65	$25.35	$24.42	$25.01	$25.11
FCF/Share	$2.64	$2.08	$1.67	$1.53	$1.56	$2.11	$2.15	$2.33	$3.08	$2.77	$3.32	$3.69	$3.18	$3.91	$3.94	$3.27	$2.85	$1.25	$1.63	$2.78	$2.79
OCF/Share	$3.14	$2.64	$2.31	$2.12	$2.12	$2.63	$2.60	$2.71	$3.56	$3.33	$3.95	$4.37	$3.76	$4.39	$4.36	$3.64	$3.24	$1.66	$2.01	$3.25	$3.26
Cash/Share	$2.86	$3.28	$2.76	$2.80	$2.35	$2.78	$2.30	$2.53	$2.11	$2.91	$2.59	$2.73	$2.57	$3.15	$2.94	$3.05	$2.48	$9.85	$9.45	$17.46	$17.52
EBITDA/Share	$2.76	$2.99	$3.47	$3.78	$4.28	$4.33	$4.41	$4.62	$4.69	$4.71	$4.71	$4.63	$4.71	$4.98	$5.05	$5.08	$4.76	$4.31	$4.02	$3.39	$3.39
Debt/Share	$14.02	$13.78	$13.26	$12.89	$13.83	$13.59	$13.22	$12.82	$11.21	$11.21	$15.79	$14.89	$14.23	$13.03	$12.25	$14.23	$14.02	$8.83	$7.06	$6.87	$6.87
Net Debt/Share	$11.16	$10.50	$10.50	$10.09	$11.48	$10.81	$10.92	$10.29	$9.10	$8.30	$13.20	$12.16	$11.67	$9.88	$9.31	$11.18	$11.54	$-1.02	$-2.39	$-10.59	$-10.59

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	8.984
Altman Z-Prime	snapshot only																				16.885
Piotroski F-Score	4	3	7	5	8	8	8	8	8	7	3	3	3	4	7	7	7	5	5	6	6
Beneish M-Score	-2.27	-2.04	-2.12	-2.01	-2.29	-2.44	-2.49	-2.51	-2.75	-2.73	-2.59	-2.72	-2.52	-2.64	-2.73	-2.58	-2.65	-2.26	-2.47	-2.62	-2.616
Ohlson O-Score	snapshot only																				-9.698
ROIC (Greenblatt)	snapshot only																				8.87%
Net-Net WC	snapshot only																				$14.59
EVA	snapshot only																				$-39978462.66

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AA-
Credit Score	69.33	71.63	74.81	74.75	76.43	74.82	73.98	76.10	73.10	72.96	71.37	71.78	71.34	73.81	73.54	73.41	72.29	74.56	81.45	84.29	84.291
Credit Grade	snapshot only																				4
Credit Trend	snapshot only																				10.879
Implied Spread (bps)	snapshot only																				100.000
Industry Credit Rank	snapshot only																				75
Sector Credit Rank	snapshot only																				59

NOVT NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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