Novanta Stock Beta

NOVT Stock

USD 164.72 0.22 0.13%

Novanta fundamentals help investors to digest information that contributes to Novanta's financial success or failures. It also enables traders to predict the movement of Novanta Stock. The fundamental analysis module provides a way to measure Novanta's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Novanta stock.

Short Long Term Debt Total Total Assets

This module does not cover all equities due to inconsistencies in global equity categorizations. Continue to Equity Screeners to view more equity screening tools.

Novanta Company Beta Analysis

Novanta's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Beta

Covariance

Variance

More About Beta | All Equity Analysis

Current Novanta Beta

1.29

Most of Novanta's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Novanta is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

Novanta Beta Driver Correlations

Understanding the fundamental principles of building solid financial models for Novanta is extremely important. It helps to project a fair market value of Novanta Stock properly, considering its historical fundamentals such as Beta. Since Novanta's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Novanta's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Novanta's interrelated accounts and indicators.

	Total Assets	Total Stockholder Equity	Net Debt	Retained Earnings	Accounts Payable	Net Receivables	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets	Long Term Debt	Common Stock	Property Plant Equipment	Good Will	Current Deferred Revenue	Net Tangible Assets	Long Term Debt Total	Capital Surpluse	Deferred Long Term Liab	Long Term Investments	Short Long Term Debt	Net Invested Capital	Net Working Capital	Capital Stock
Total Assets		0.97	0.97	0.83	0.84	0.87	0.98	0.92	0.68	0.8	0.9	0.46	0.97	0.99	0.06	-0.91	0.96	0.88	0.72	0.49	-0.75	0.9	0.61	-0.54
Total Stockholder Equity	0.97		0.91	0.86	0.73	0.81	0.9	0.87	0.75	0.67	0.8	0.48	0.94	0.97	0.04	-0.81	0.95	0.86	0.6	0.58	-0.77	0.89	0.69	-0.68
Net Debt	0.97	0.91		0.82	0.85	0.88	0.98	0.9	0.57	0.79	0.93	0.37	0.96	0.97	0.17	-0.95	0.96	0.8	0.68	0.43	-0.71	0.93	0.63	-0.48
Retained Earnings	0.83	0.86	0.82		0.57	0.67	0.77	0.69	0.61	0.48	0.68	0.05	0.86	0.88	0.15	-0.71	0.88	0.72	0.58	0.49	-0.72	0.86	0.7	-0.66
Accounts Payable	0.84	0.73	0.85	0.57		0.9	0.89	0.93	0.3	0.94	0.95	0.51	0.77	0.81	-0.07	-0.85	0.74	0.88	0.72	0.23	-0.68	0.76	0.42	-0.05
Net Receivables	0.87	0.81	0.88	0.67	0.9		0.88	0.96	0.4	0.81	0.94	0.58	0.83	0.86	-0.05	-0.82	0.83	0.83	0.66	0.37	-0.65	0.87	0.68	-0.25
Total Liab	0.98	0.9	0.98	0.77	0.89	0.88		0.93	0.58	0.88	0.95	0.42	0.95	0.97	0.07	-0.95	0.93	0.85	0.78	0.4	-0.7	0.87	0.52	-0.41
Total Current Assets	0.92	0.87	0.9	0.69	0.93	0.96	0.93		0.51	0.88	0.95	0.6	0.86	0.9	-0.06	-0.84	0.85	0.9	0.73	0.34	-0.68	0.87	0.62	-0.28
Short Term Debt	0.68	0.75	0.57	0.61	0.3	0.4	0.58	0.51		0.32	0.42	0.29	0.67	0.68	0.16	-0.45	0.66	0.53	0.32	0.42	-0.42	0.59	0.49	-0.66
Intangible Assets	0.8	0.67	0.79	0.48	0.94	0.81	0.88	0.88	0.32		0.91	0.48	0.75	0.76	-0.08	-0.86	0.68	0.85	0.86	0.19	-0.57	0.64	0.22	0.01
Long Term Debt	0.9	0.8	0.93	0.68	0.95	0.94	0.95	0.95	0.42	0.91		0.46	0.87	0.89	0.07	-0.92	0.85	0.85	0.75	0.3	-0.64	0.87	0.55	-0.18
Common Stock	0.46	0.48	0.37	0.05	0.51	0.58	0.42	0.6	0.29	0.48	0.46		0.36	0.4	-0.22	-0.36	0.38	0.52	0.16	0.37	-0.26	0.37	0.38	-0.18
Property Plant Equipment	0.97	0.94	0.96	0.86	0.77	0.83	0.95	0.86	0.67	0.75	0.87	0.36		0.98	0.13	-0.92	0.96	0.82	0.74	0.48	-0.75	0.91	0.57	-0.57
Good Will	0.99	0.97	0.97	0.88	0.81	0.86	0.97	0.9	0.68	0.76	0.89	0.4	0.98		0.1	-0.91	0.98	0.86	0.69	0.51	-0.75	0.93	0.65	-0.57
Current Deferred Revenue	0.06	0.04	0.17	0.15	-0.07	-0.05	0.07	-0.06	0.16	-0.08	0.07	-0.22	0.13	0.1		-0.11	0.15	-0.02	-0.06	-0.19	-0.08	0.14	0.15	-0.17
Net Tangible Assets	-0.91	-0.81	-0.95	-0.71	-0.85	-0.82	-0.95	-0.84	-0.45	-0.86	-0.92	-0.36	-0.92	-0.91	-0.11		-0.9	-0.79	-0.74	-0.37	0.64	-0.83	-0.44	0.37
Long Term Debt Total	0.96	0.95	0.96	0.88	0.74	0.83	0.93	0.85	0.66	0.68	0.85	0.38	0.96	0.98	0.15	-0.9		0.78	0.62	0.53	-0.69	0.92	0.71	-0.66
Capital Surpluse	0.88	0.86	0.8	0.72	0.88	0.83	0.85	0.9	0.53	0.85	0.85	0.52	0.82	0.86	-0.02	-0.79	0.78		0.73	0.41	-0.79	0.78	0.49	-0.28
Deferred Long Term Liab	0.72	0.6	0.68	0.58	0.72	0.66	0.78	0.73	0.32	0.86	0.75	0.16	0.74	0.69	-0.06	-0.74	0.62	0.73		0.12	-0.54	0.53	0.09	-0.09
Long Term Investments	0.49	0.58	0.43	0.49	0.23	0.37	0.4	0.34	0.42	0.19	0.3	0.37	0.48	0.51	-0.19	-0.37	0.53	0.41	0.12		-0.32	0.43	0.49	-0.63
Short Long Term Debt	-0.75	-0.77	-0.71	-0.72	-0.68	-0.65	-0.7	-0.68	-0.42	-0.57	-0.64	-0.26	-0.75	-0.75	-0.08	0.64	-0.69	-0.79	-0.54	-0.32		-0.71	-0.39	0.39
Net Invested Capital	0.9	0.89	0.93	0.86	0.76	0.87	0.87	0.87	0.59	0.64	0.87	0.37	0.91	0.93	0.14	-0.83	0.92	0.78	0.53	0.43	-0.71		0.8	-0.48
Net Working Capital	0.61	0.69	0.63	0.7	0.42	0.68	0.52	0.62	0.49	0.22	0.55	0.38	0.57	0.65	0.15	-0.44	0.71	0.49	0.09	0.49	-0.39	0.8		-0.56
Capital Stock	-0.54	-0.68	-0.48	-0.66	-0.05	-0.25	-0.41	-0.28	-0.66	0.01	-0.18	-0.18	-0.57	-0.57	-0.17	0.37	-0.66	-0.28	-0.09	-0.63	0.39	-0.48	-0.56

Click cells to compare fundamentals

In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.

Competition

Predict Novanta

In accordance with the recently published financial statements, Novanta has a Beta of 1.287. This is 21.42% higher than that of the Electronic Equipment, Instruments & Components sector and 18.07% higher than that of the Information Technology industry. The beta for all United States stocks is notably lower than that of the firm.

Novanta Beta Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Novanta's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Novanta could also be used in its relative valuation, which is a method of valuing Novanta by comparing valuation metrics of similar companies.

Novanta is currently under evaluation in beta category among its peers.

Novanta ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Novanta's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Novanta's managers, analysts, and investors.

Environmental

Governance

Social

Novanta Institutional Holders

Institutional Holdings refers to the ownership stake in Novanta that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Novanta's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Novanta's value.

		Shares
Geneva Capital Management	2024-09-30	780 K
Capital Research & Mgmt Co - Division 3	2024-09-30	755.4 K
Jpmorgan Chase & Co	2024-06-30	719 K
Allspring Global Investments Holdings, Llc	2024-06-30	664.9 K
Dimensional Fund Advisors, Inc.	2024-09-30	643.9 K
Amvescap Plc.	2024-06-30	581.3 K
Kayne Anderson Rudnick Investment Management Llc	2024-06-30	547.3 K
Artisan Partners Limited Partnership	2024-06-30	535.8 K
Morgan Stanley - Brokerage Accounts	2024-06-30	507.3 K
Blackrock Inc	2024-06-30	4.4 M
Vanguard Group Inc	2024-09-30	4.1 M

As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Novanta will likely underperform.

Novanta Fundamentals

	Return On Equity	0.0867
	Return On Asset	0.0535
	Profit Margin	0.07 %
	Operating Margin	0.14 %
	Current Valuation	6.35 B
	Shares Outstanding	35.92 M
	Shares Owned By Insiders	0.87 %
	Shares Owned By Institutions	99.13 %
	Number Of Shares Shorted	1.71 M
	Price To Earning	126.20 X
	Price To Book	7.98 X
	Price To Sales	6.42 X
	Revenue	881.66 M
	Gross Profit	378.63 M
	EBITDA	164.16 M
	Net Income	72.88 M
	Cash And Equivalents	100.49 M
	Cash Per Share	2.82 X
	Total Debt	404.56 M
	Debt To Equity	0.87 %
	Current Ratio	2.01 X
	Book Value Per Share	20.66 X
	Cash Flow From Operations	109.51 M
	Short Ratio	13.46 X
	Earnings Per Share	1.67 X
	Price To Earnings To Growth	2.11 X
	Target Price	178.0
	Number Of Employees	2.9 K
	Beta	1.29
	Market Capitalization	5.92 B
	Total Asset	1.23 B
	Retained Earnings	203.46 M
	Working Capital	276.12 M
	Current Asset	208.74 M
	Current Liabilities	36.6 M
	Net Asset	1.23 B

About Novanta Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Novanta's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Novanta using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Novanta based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Please read more on our fundamental analysis page.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.

Explore Investing Ideas

Additional Tools for Novanta Stock Analysis

When running Novanta's price analysis, check to measure Novanta's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Novanta is operating at the current time. Most of Novanta's value examination focuses on studying past and present price action to predict the probability of Novanta's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novanta's price. Additionally, you may evaluate how the addition of Novanta to your portfolios can decrease your overall portfolio volatility.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC