NVMI

MKT CAP:$17B

Nova Ltd.

Market Cap

$17B

Technology·Semiconductors·🇮🇱 Israel·NASDAQ

Technology·Semiconductors·🇮🇱·NASDAQ

Stock Price

$522.91+$175.57 (+50.55%)

Apr 23, 2026

Company Details

Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Israel, Taiwan, the United States, China, Korea, and internationally. Its product portfolio includes a set of metrology pl...

CEO

Gabriel Waisman

IPO Date

Apr 11, 2000

Website

www.novami.com

Key Metrics TTM

Revenue

$881M

+31.0% YoY

Net Income

$259M

EPS (Diluted)

$8.01

Free Cash Flow

$218M

Revenue / Share

$26.03

Gross Margin

57.4%

Operating Margin

28.8%

Net Margin

29.4%

FCF Margin

24.7%

P/S

19.7x

P/E

66.9x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 17, 2026

$881M+31.0%EPS $7.96

Q4 2025

Feb 17, 2026

$223M+14.3%EPS $1.94

Q3 2025

Nov 6, 2025

$225M+25.5%EPS $1.90

Q2 2025

Sep 2, 2025

$220M+40.2%EPS $2.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$134M	$76M	$37M
Q2 22	$142M	$80M	$37M
Q3 22	$144M	$82M	$39M
Q4 22	$151M	$84M	$37M
Q1 23	$132M	$77M	$36M
Q2 23	$123M	$70M	$29M
Q3 23	$129M	$72M	$34M
Q4 23	$134M	$74M	$34M
Q1 24	$142M	$83M	$37M
Q2 24	$157M	$93M	$46M
Q3 24	$179M	$101M	$49M
Q4 24	$195M	$110M	$55M
Q1 25	$213M	$122M	$63M
Q2 25	$220M	$127M	$66M
Q3 25	$225M	$127M	$64M
Q4 25	$223M	$128M	$61M

Valuation

Quarter	P/S	P/E
Q1 22	37.2x	158.2x
Q2 22	34.0x	142.6x
Q3 22	32.1x	137.3x
Q4 22	30.4x	123.7x
Q1 23	30.5x	123.3x
Q2 23	31.5x	127.8x
Q3 23	32.4x	129.1x
Q4 23	33.5x	127.2x
Q1 24	32.9x	125.2x
Q2 24	30.9x	112.8x
Q3 24	28.3x	101.2x
Q4 24	25.8x	94.4x
Q1 25	23.3x	81.9x
Q2 25	21.5x	73.8x
Q3 25	20.3x	70.8x
Q4 25	19.7x	66.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$13M	$9M
Q2 22	$25M	$21M
Q3 22	$32M	$27M
Q4 22	$50M	$41M
Q1 23	$23M	$20M
Q2 23	$24M	$21M
Q3 23	$47M	$43M
Q4 23	$28M	$21M
Q1 24	$59M	$57M
Q2 24	$60M	$58M
Q3 24	$47M	$43M
Q4 24	$69M	$61M
Q1 25	$69M	$60M
Q2 25	$46M	$43M
Q3 25	$71M	$67M
Q4 25	$60M	$48M

Capital Expenditures

Quarter	CapEx
Q1 22	$4M
Q2 22	$4M
Q3 22	$5M
Q4 22	$8M
Q1 23	$3M
Q2 23	$3M
Q3 23	$4M
Q4 23	$7M
Q1 24	$3M
Q2 24	$2M
Q3 24	$4M
Q4 24	$8M
Q1 25	$9M
Q2 25	$3M
Q3 25	$4M
Q4 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+59.2%	+50.4%
Q2 22	+44.9%	+48.4%
Q3 22	+27.7%	+36.0%
Q4 22	+24.5%	+24.8%
Q1 23	-1.3%	-0.4%
Q2 23	-13.4%	-10.2%
Q3 23	-10.5%	-9.8%
Q4 23	-11.3%	-12.0%
Q1 24	+7.3%	+8.4%
Q2 24	+27.8%	+18.4%
Q3 24	+38.9%	+37.1%
Q4 24	+45.1%	+38.5%
Q1 25	+50.5%	+43.6%
Q2 25	+40.2%	+38.8%
Q3 25	+25.5%	+23.9%
Q4 25	+14.3%	+16.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	2.9%
Q2 22	$4M	2.9%
Q3 22	$4M	3.0%
Q4 22	$4M	2.9%
Q1 23	$4M	3.3%
Q2 23	$4M	3.0%
Q3 23	$5M	3.5%
Q4 23	$0	0.0%
Q1 24	$6M	4.5%
Q2 24	$6M	4.0%
Q3 24	$6M	3.5%
Q4 24	$0	0.0%
Q1 25	$6M	3.0%
Q2 25	$6M	2.8%
Q3 25	$7M	3.0%
Q4 25	$7M	3.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$19M	$6M	$12M
Q2 22	$22M	$7M	$12M
Q3 22	$23M	$5M	$13M
Q4 22	$26M	$5M	$14M
Q1 23	$23M	$5M	$14M
Q2 23	$22M	$6M	$13M
Q3 23	$21M	$4M	$12M
Q4 23	$21M	$5M	$14M
Q1 24	$25M	$5M	$16M
Q2 24	$26M	$5M	$16M
Q3 24	$29M	$6M	$17M
Q4 24	$31M	$8M	$16M
Q1 25	$33M	$6M	$20M
Q2 25	$35M	$6M	$20M
Q3 25	$37M	$7M	$20M
Q4 25	$38M	$7M	$22M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$105M	$236M	$341M
Q2 22	$170M	$194M	$364M
Q3 22	$119M	$216M	$335M
Q4 22	$111M	$262M	$373M
Q1 23	$96M	$293M	$389M
Q2 23	$129M	$287M	$416M
Q3 23	$116M	$357M	$474M
Q4 23	$108M	$336M	$444M
Q1 24	$118M	$377M	$496M
Q2 24	$130M	$407M	$538M
Q3 24	$154M	$447M	$601M
Q4 24	$158M	$429M	$587M
Q1 25	$141M	$401M	$542M
Q2 25	$161M	$396M	$557M
Q3 25	$522M	$566M	$1.1B
Q4 25	$214M	$834M	$1.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	32M	+5.6%	+9.1%
Q2 22	32M	-0.2%	+7.0%
Q3 22	32M	-0.0%	+6.8%
Q4 22	32M	-0.5%	+4.8%
Q1 23	32M	+0.3%	-0.5%
Q2 23	32M	+0.3%	+0.1%
Q3 23	32M	+0.2%	+0.3%
Q4 23	32M	+0.1%	+0.9%
Q1 24	32M	+0.4%	+1.1%
Q2 24	32M	+0.2%	+1.0%
Q3 24	32M	-0.0%	+0.8%
Q4 24	32M	-0.5%	+0.1%
Q1 25	32M	0.0%	-0.3%
Q2 25	32M	-0.0%	-0.6%
Q3 25	32M	+1.3%	+0.7%
Q4 25	34M	+4.2%	+5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$134.0K	1K
Q2 22	$141.6K	1K
Q3 22	$143.9K	1K
Q4 22	$151.2K	1K
Q1 23	$132.2K	1K
Q2 23	$122.7K	1K
Q3 23	$128.8K	1K
Q4 23	$134.2K	1K
Q1 24	$141.8K	1K
Q2 24	$156.9K	1K
Q3 24	$179.0K	1K
Q4 24	$16M	12
Q1 25	$18M	12
Q2 25	$18M	12
Q3 25	$19M	12
Q4 25	$19M	12

Revenue / Employee