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Nova Ltd. (NVMI) Financials

NVMI
FY2025 annual
Revenue $880.6M +31.0% YoY
Net Income $259.2M +41.1% YoY
EPS (Diluted) $7.96 +38.4% YoY
Free Cash Flow $217.9M -0.1% YoY
Market Cap $10.2B as of Oct 17, 2026
Price / Sales 11.6x on $880.6M revenue, FY2025
Price / Earnings 39.4x on $259.2M net income, FY2025
Price / Book 7.7x on $1.3B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Feb 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NVMI SEC filings page.

Nova Ltd. (NVMI) reported $880.6M in revenue for fiscal year 2025, up 31.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI NVMI FY2025

Revenue growth and margin expansion accelerated in FY2025, but free cash flow barely changed, making cash conversion the main operating question.

Operating cash flow moved from 1.3x net income in FY2024 to 0.9x in FY2025, while net margin expanded. That divergence explains why free cash flow stayed near $218M despite much larger reported profit: earnings grew faster than cash realization.

Revenue reached $881M while operating margin reached 28.8%, indicating modest operating leverage: additional sales were accompanied by slightly better cost absorption rather than lower profitability.

The balance sheet expanded sharply: total assets reached $2.4B and total liabilities $1.0B, so growth came with a larger financing footprint. Debt-to-equity rose to 0.8x even as current ratio climbed to 6.3x, separating long-term leverage from short-term liquidity.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 84 / 100
Financial Health Score 84/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Nova Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
95

Nova Ltd. has an operating margin of 28.8%, meaning the company retains $29 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is up from 27.9% the prior year.

Growth
90

Nova Ltd.'s revenue surged 31.0% year-over-year to $880.6M, reflecting rapid business expansion. This strong growth earns a score of 90/100.

Leverage
52

Nova Ltd. has a moderate D/E ratio of 0.79. This balance of debt and equity financing earns a leverage score of 52/100.

Liquidity
94

With a current ratio of 6.28, Nova Ltd. holds $6.28 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 94/100.

Cash Flow
92

Nova Ltd. converts 24.8% of revenue into free cash flow ($217.9M). This strong cash generation earns a score of 92/100.

Returns
81

Nova Ltd. earns a strong 19.7% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is down from 19.8% the prior year.

Altman Z-Score Safe
7.84

Nova Ltd. scores 7.84, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($10.2B) relative to total liabilities ($1.0B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/8

Nova Ltd. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed
0.95x

For every $1 of reported earnings, Nova Ltd. generates $0.95 in operating cash flow ($245.6M OCF vs $259.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe
126.99x

Nova Ltd. earns $126.99 in operating income for every $1 of interest expense ($253.5M vs $2.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$214.5M
YoY+35.9%
QoQ+33.6%

Nova Ltd. held $214.5M in cash as of Q4 2025; long-term debt is not reported for that period.

Shares Outstanding
32M
YoY+8.5%
QoQ+7.2%

Nova Ltd. had 32M shares outstanding in Q4 2025. This represents an increase of 8.5% from the same quarter a year earlier. Against the prior quarter it is up 7.2%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

NVMI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NVMI quarterly income statement
MetricQ4'2520-FQ2'256-KQ4'2420-FQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

NVMI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NVMI quarterly balance sheet
MetricQ4'2520-FQ2'256-KQ4'2420-FQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-K
Total Assets$2.4B+69.8%$1.5B$1.4B+22.6%$1.1B+15.2%$984.1M+22.2%$805.2M+22.8%$655.8M+63.8%$400.4M+20.1%
Current Assets$1.4B+56.4%$901.4M$901.9M+27.0%$710.2M+15.9%$612.9M+8.2%$566.5M+1.4%$558.7M+84.4%$302.9M+7.6%
Cash & Equivalents$214.5M+35.9%$160.6M$157.8M+46.7%$107.6M-3.2%$111.1M-12.3%$126.7M-45.5%$232.3M+631.7%$31.7M+38.8%
Short-Term Investments$321.8M+48.4%$187.8M$216.9M+0.3%$216.3M+29.4%$167.1M-24.7%$221.9M+15.8%$191.6M+24.0%$154.5M+1.0%
Inventory$183.7M+17.3%$182.0M$156.6M+13.3%$138.2M+18.5%$116.6M+48.2%$78.7M+27.4%$61.7M+27.6%$48.4M+15.7%
Accounts Receivable$151.9M+9.1%$138.4M$139.3M+25.2%$111.3M+1.8%$109.3M+59.7%$68.4M+8.1%$63.3M+22.7%$51.6M-3.6%
Long-Term Investments$584.7M+158.9%$287.5M$225.8M+18.0%$191.4M+24.7%$153.5M+11.7%$137.4M$0-100.0%$2.8M
Goodwill$90.8M+87.9%$90.7M$48.3M-3.5%$50.1M+2.2%$49.0M+143.7%$20.1M0.0%$20.1M0.0%$20.1M0.0%
Total Liabilities$1.0B+125.3%$437.2M$462.6M+20.8%$383.1M-3.5%$397.1M+19.8%$331.4M+16.6%$284.2M+230.9%$85.9M+63.0%
Current Liabilities$224.5M-42.2%$351.0M$388.2M+20.3%$322.8M+140.8%$134.1M-53.4%$287.9M+372.5%$60.9M+31.8%$46.2M-3.8%
Non-Current Liabilities$817.8M+999.2%$86.3M$74.4M+23.5%$60.2M-77.1%$263.1M+505.2%$43.5M-80.5%$223.3M+462.9%$39.7M+760.2%
Total Equity$1.3B+42.1%$1.1B$927.8M+23.6%$750.8M+27.9%$587.0M+23.9%$473.8M+27.5%$371.5M+18.1%$314.5M+12.0%
Retained Earnings$1.1B+32.5%$931.3M$798.1M+29.9%$614.4M+28.5%$478.1M+42.8%$334.7M+38.5%$241.6M+24.7%$193.7M+22.2%

Not reported in any period shown, so not listed: Long-Term Debt.

NVMI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NVMI quarterly cash flow statement
MetricQ4'2520-FQ2'256-KQ4'2420-FQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

NVMI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NVMI quarterly financial ratios
MetricQ4'2520-FQ2'256-KQ4'2420-FQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-K
Current Ratio6.28+4.0x2.572.32+0.1x2.20-2.4x4.57+2.6x1.97-7.2x9.17+2.6x6.55+0.7x
Debt-to-Equity0.79+0.3x0.400.500.0x0.51-0.2x0.680.0x0.70-0.1x0.77+0.5x0.27+0.1x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Nova Ltd. NVMI FY2025 $880.6M $259.2M 29.4% $10.2B 84/100
Amkor Technology Inc AMKR FY2025 $6.7B $373.9M 5.6% $10.4B 59/100
Onto Innovation Inc. ONTO FY2025 $1.0B $137K 0.0% $10.8B 73/100
Camtek Ltd CAMT FY2025 $496.1M $50.7M 10.2% $6.0B 82/100
IPG Photonics Corporation IPGP FY2025 $1.0B $31.1M 3.1% $3.0B 51/100
Axcelis Technologies Inc ACLS FY2025 $839.0M $120.2M 14.3% $3.3B 67/100

Frequently Asked Questions

What is Nova Ltd.'s annual revenue?

Nova Ltd. (NVMI) reported $880.6M in total revenue for fiscal year 2025. This represents a 31.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Nova Ltd.'s revenue growing?

Nova Ltd. (NVMI) revenue grew by 31.0% year-over-year, from $672.4M to $880.6M in fiscal year 2025.

Is Nova Ltd. profitable?

Yes, Nova Ltd. (NVMI) reported a net income of $259.2M in fiscal year 2025, with a net profit margin of 29.4%.

Nova Ltd. (NVMI) reported diluted earnings per share of $7.96 for fiscal year 2025. This represents a 38.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Nova Ltd. (NVMI) had EBITDA of $275.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Nova Ltd. (NVMI) had a gross margin of 57.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Nova Ltd. (NVMI) had an operating margin of 28.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Nova Ltd. (NVMI) had a net profit margin of 29.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Nova Ltd. (NVMI) has a return on equity of 19.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Nova Ltd. (NVMI) generated $217.9M in free cash flow during fiscal year 2025. This represents a -0.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Nova Ltd. (NVMI) generated $245.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Nova Ltd. (NVMI) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Nova Ltd. (NVMI) invested $27.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Nova Ltd. (NVMI) invested $143.4M in research and development during fiscal year 2025.

Yes, Nova Ltd. (NVMI) spent $35.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Nova Ltd. (NVMI) had 32M shares outstanding as of fiscal year 2025.

Nova Ltd. (NVMI) had a current ratio of 6.28 as of fiscal year 2025, which is generally considered healthy.

Nova Ltd. (NVMI) had a debt-to-equity ratio of 0.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Nova Ltd. (NVMI) had a return on assets of 11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Nova Ltd. (NVMI) trades at 39.4x earnings, its market capitalization divided by net income of $259.2M net income, FY2025. The market capitalization is $10.2B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Nova Ltd. (NVMI) trades at 11.6x sales, its market capitalization divided by revenue of $880.6M revenue, FY2025. The market capitalization is $10.2B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Nova Ltd. (NVMI) has an Altman Z-Score of 7.84, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Nova Ltd. (NVMI) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Nova Ltd. (NVMI) has an earnings quality ratio of 0.95x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Nova Ltd. (NVMI) has an interest coverage ratio of 126.99x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Nova Ltd. (NVMI) scores 84 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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