NOVTNOVANTA INC
Miscellaneous Electrical Machinery, Equipment & Supplies
- Revenue
- $981M
- 3.3% YoY
- Operating margin
- 9.6%
- 18% YoY
- EBITDA
- $156M
- 6.1% YoY
- Market cap
- $5.5B
- Employees
- 3,000
- $327K revenue each
- Net debt / EBITDA
- -3.1×
- −$489M net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$9M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo119% of net incomeCash flow under 80% of net income
- Dilutive SBCNo3% of revenueOver 10% of revenue
- Payouts exceed cash flowNo61% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo30% of assetsOver 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$327K · 36th pctBottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 59th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 3.1× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$5.5B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$12M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $707M | $861M | $882M | $949M | $981M | 3.3% |
| Operating income | $64M | $103M | $110M | $111M | $94M | 15% |
| Net income | $50M | $74M | $73M | $64M | $54M | 16% |
| Operating cash flow | $95M | $91M | $120M | $159M | $64M | 60% |
| Capex | $20M | $20M | $20M | $17M | $16M | 8.9% |
| Stock-based comp | $26M | $23M | $26M | $23M | $30M | 27% |
| Buybacks | — | $10M | — | — | $39M |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $12M · 45
- Net
- −$12M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $10M | $2M | 101 | 134 |
| FY2024 | $9M | −$260K | 129 | 119 |
| FY2023 | $8M | $14M | 142 | 107 |
| FY2022 | $7M | $3M | 115 | 91 |
| FY2021 | $12M | $25M | 149 | 115 |