Intrinsic value of Novanta - NOVT

Previous Close

$71.49

  Intrinsic Value

$88.83

stock screener

  Rating & Target

buy

+24%

Previous close

$71.49

 
Intrinsic value

$88.83

 
Up/down potential

+24%

 
Rating

buy

We calculate the intrinsic value of NOVT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  26.30
  24.17
  22.25
  20.53
  18.97
  17.58
  16.32
  15.19
  14.17
  13.25
  12.43
  11.68
  11.02
  10.41
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
  7.33
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.11
  6.00
Revenue, $m
  658
  818
  999
  1,205
  1,433
  1,685
  1,960
  2,258
  2,578
  2,919
  3,282
  3,666
  4,069
  4,493
  4,937
  5,400
  5,883
  6,386
  6,910
  7,454
  8,020
  8,608
  9,219
  9,854
  10,514
  11,200
  11,914
  12,658
  13,432
  14,238
Variable operating expenses, $m
  531
  650
  787
  941
  1,113
  1,302
  1,508
  1,732
  1,972
  2,228
  2,464
  2,752
  3,055
  3,373
  3,706
  4,054
  4,417
  4,795
  5,188
  5,596
  6,021
  6,463
  6,921
  7,398
  7,894
  8,409
  8,945
  9,503
  10,084
  10,690
Fixed operating expenses, $m
  38
  39
  39
  40
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
  51
  52
  54
  55
  56
  57
  58
  60
  61
  62
  64
  65
  67
  68
  70
  71
Total operating expenses, $m
  569
  689
  826
  981
  1,154
  1,344
  1,551
  1,776
  2,017
  2,274
  2,511
  2,800
  3,104
  3,423
  3,757
  4,106
  4,471
  4,850
  5,244
  5,653
  6,079
  6,523
  6,982
  7,460
  7,958
  8,474
  9,012
  9,571
  10,154
  10,761
Operating income, $m
  90
  128
  173
  223
  279
  341
  409
  482
  561
  645
  771
  865
  965
  1,070
  1,179
  1,293
  1,413
  1,537
  1,666
  1,801
  1,940
  2,085
  2,236
  2,393
  2,556
  2,726
  2,903
  3,086
  3,278
  3,477
EBITDA, $m
  149
  193
  244
  301
  365
  435
  512
  595
  685
  781
  882
  990
  1,103
  1,222
  1,347
  1,477
  1,613
  1,754
  1,901
  2,054
  2,213
  2,378
  2,550
  2,728
  2,914
  3,107
  3,308
  3,517
  3,734
  3,961
Interest expense (income), $m
  3
  13
  18
  25
  33
  41
  51
  62
  73
  86
  99
  114
  129
  145
  162
  180
  198
  218
  238
  259
  281
  304
  328
  353
  378
  405
  433
  462
  492
  523
  556
Earnings before tax, $m
  77
  110
  148
  190
  238
  290
  347
  409
  475
  546
  657
  737
  820
  908
  999
  1,095
  1,195
  1,299
  1,407
  1,519
  1,636
  1,757
  1,884
  2,015
  2,151
  2,293
  2,441
  2,595
  2,755
  2,922
Tax expense, $m
  21
  30
  40
  51
  64
  78
  94
  110
  128
  147
  178
  199
  221
  245
  270
  296
  323
  351
  380
  410
  442
  475
  509
  544
  581
  619
  659
  701
  744
  789
Net income, $m
  56
  80
  108
  139
  174
  212
  253
  298
  347
  398
  480
  538
  599
  663
  730
  799
  872
  948
  1,027
  1,109
  1,194
  1,283
  1,375
  1,471
  1,570
  1,674
  1,782
  1,894
  2,011
  2,133

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  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
Total assets, $m
  904
  1,123
  1,373
  1,655
  1,969
  2,315
  2,692
  3,101
  3,541
  4,010
  4,508
  5,035
  5,590
  6,172
  6,781
  7,418
  8,081
  8,772
  9,492
  10,239
  11,016
  11,824
  12,663
  13,535
  14,442
  15,385
  16,366
  17,387
  18,450
  19,558
Adjusted assets (=assets-cash), $m
  904
  1,123
  1,373
  1,655
  1,969
  2,315
  2,692
  3,101
  3,541
  4,010
  4,508
  5,035
  5,590
  6,172
  6,781
  7,418
  8,081
  8,772
  9,492
  10,239
  11,016
  11,824
  12,663
  13,535
  14,442
  15,385
  16,366
  17,387
  18,450
  19,558
Revenue / Adjusted assets
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
Average production assets, $m
  230
  286
  350
  422
  502
  590
  686
  790
  902
  1,022
  1,149
  1,283
  1,424
  1,573
  1,728
  1,890
  2,059
  2,235
  2,418
  2,609
  2,807
  3,013
  3,227
  3,449
  3,680
  3,920
  4,170
  4,430
  4,701
  4,983
Working capital, $m
  125
  155
  190
  229
  272
  320
  372
  429
  490
  555
  624
  696
  773
  854
  938
  1,026
  1,118
  1,213
  1,313
  1,416
  1,524
  1,635
  1,752
  1,872
  1,998
  2,128
  2,264
  2,405
  2,552
  2,705
Total debt, $m
  341
  465
  607
  767
  945
  1,141
  1,355
  1,587
  1,836
  2,102
  2,385
  2,683
  2,998
  3,328
  3,674
  4,034
  4,411
  4,803
  5,210
  5,634
  6,075
  6,533
  7,009
  7,503
  8,017
  8,552
  9,108
  9,687
  10,290
  10,918
Total liabilities, $m
  513
  637
  778
  938
  1,116
  1,312
  1,527
  1,758
  2,008
  2,274
  2,556
  2,855
  3,169
  3,499
  3,845
  4,206
  4,582
  4,974
  5,382
  5,806
  6,246
  6,704
  7,180
  7,675
  8,189
  8,723
  9,280
  9,858
  10,461
  11,089
Total equity, $m
  392
  486
  594
  716
  852
  1,002
  1,166
  1,343
  1,533
  1,736
  1,952
  2,180
  2,420
  2,672
  2,936
  3,212
  3,499
  3,798
  4,110
  4,434
  4,770
  5,120
  5,483
  5,861
  6,253
  6,662
  7,086
  7,529
  7,989
  8,469
Total liabilities and equity, $m
  905
  1,123
  1,372
  1,654
  1,968
  2,314
  2,693
  3,101
  3,541
  4,010
  4,508
  5,035
  5,589
  6,171
  6,781
  7,418
  8,081
  8,772
  9,492
  10,240
  11,016
  11,824
  12,663
  13,536
  14,442
  15,385
  16,366
  17,387
  18,450
  19,558
Debt-to-equity ratio
  0.870
  0.960
  1.020
  1.070
  1.110
  1.140
  1.160
  1.180
  1.200
  1.210
  1.220
  1.230
  1.240
  1.250
  1.250
  1.260
  1.260
  1.260
  1.270
  1.270
  1.270
  1.280
  1.280
  1.280
  1.280
  1.280
  1.290
  1.290
  1.290
  1.290
Adjusted equity ratio
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433
  0.433

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  56
  80
  108
  139
  174
  212
  253
  298
  347
  398
  480
  538
  599
  663
  730
  799
  872
  948
  1,027
  1,109
  1,194
  1,283
  1,375
  1,471
  1,570
  1,674
  1,782
  1,894
  2,011
  2,133
Depreciation, amort., depletion, $m
  59
  64
  71
  78
  85
  94
  103
  113
  124
  136
  112
  125
  138
  153
  168
  183
  200
  217
  235
  253
  273
  292
  313
  335
  357
  381
  405
  430
  456
  484
Funds from operations, $m
  115
  145
  178
  217
  259
  306
  357
  412
  471
  534
  591
  662
  737
  815
  897
  983
  1,072
  1,165
  1,262
  1,362
  1,467
  1,575
  1,688
  1,806
  1,928
  2,055
  2,187
  2,324
  2,467
  2,617
Change in working capital, $m
  26
  30
  35
  39
  43
  48
  52
  57
  61
  65
  69
  73
  77
  81
  84
  88
  92
  96
  99
  103
  107
  112
  116
  121
  125
  130
  136
  141
  147
  153
Cash from operations, $m
  89
  114
  144
  178
  216
  258
  304
  355
  410
  469
  523
  589
  660
  735
  813
  895
  980
  1,069
  1,162
  1,259
  1,359
  1,464
  1,572
  1,685
  1,802
  1,924
  2,051
  2,183
  2,320
  2,463
Maintenance CAPEX, $m
  -18
  -22
  -28
  -34
  -41
  -49
  -57
  -67
  -77
  -88
  -99
  -112
  -125
  -138
  -153
  -168
  -183
  -200
  -217
  -235
  -253
  -273
  -292
  -313
  -335
  -357
  -381
  -405
  -430
  -456
New CAPEX, $m
  -48
  -56
  -64
  -72
  -80
  -88
  -96
  -104
  -112
  -120
  -127
  -134
  -141
  -148
  -155
  -162
  -169
  -176
  -183
  -191
  -198
  -206
  -214
  -222
  -231
  -240
  -250
  -260
  -271
  -282
Cash from investing activities, $m
  -66
  -78
  -92
  -106
  -121
  -137
  -153
  -171
  -189
  -208
  -226
  -246
  -266
  -286
  -308
  -330
  -352
  -376
  -400
  -426
  -451
  -479
  -506
  -535
  -566
  -597
  -631
  -665
  -701
  -738
Free cash flow, $m
  24
  36
  52
  72
  95
  121
  151
  184
  222
  262
  296
  344
  394
  448
  505
  565
  628
  693
  762
  834
  908
  985
  1,066
  1,150
  1,236
  1,327
  1,420
  1,518
  1,619
  1,725
Issuance/(repayment) of debt, $m
  107
  124
  142
  160
  178
  196
  214
  232
  249
  266
  283
  299
  314
  330
  345
  361
  376
  392
  408
  424
  441
  458
  476
  495
  514
  535
  556
  579
  603
  628
Issuance/(repurchase) of shares, $m
  26
  14
  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
Cash from financing (excl. dividends), $m  
  133
  138
  142
  160
  178
  196
  214
  232
  249
  266
  283
  299
  314
  330
  345
  361
  376
  392
  408
  424
  441
  458
  476
  495
  514
  535
  556
  579
  603
  628
Total cash flow (excl. dividends), $m
  156
  175
  194
  232
  273
  317
  365
  416
  471
  528
  579
  642
  709
  778
  851
  926
  1,004
  1,085
  1,170
  1,257
  1,349
  1,443
  1,542
  1,644
  1,751
  1,861
  1,977
  2,097
  2,222
  2,353
Retained Cash Flow (-), $m
  -82
  -95
  -108
  -122
  -136
  -150
  -164
  -177
  -190
  -203
  -216
  -228
  -240
  -252
  -264
  -276
  -287
  -299
  -311
  -324
  -336
  -350
  -363
  -378
  -393
  -408
  -425
  -442
  -460
  -480
Prev. year cash balance distribution, $m
  2
  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
Cash flow adjustment, $m
  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
Cash available for distribution, $m
  76
  80
  86
  110
  137
  167
  202
  239
  280
  325
  363
  414
  469
  526
  587
  650
  717
  786
  858
  934
  1,012
  1,094
  1,178
  1,266
  1,358
  1,453
  1,552
  1,655
  1,762
  1,873
Discount rate, %
  4.50
  4.73
  4.96
  5.21
  5.47
  5.74
  6.03
  6.33
  6.65
  6.98
  7.33
  7.70
  8.08
  8.49
  8.91
  9.36
  9.82
  10.31
  10.83
  11.37
  11.94
  12.54
  13.16
  13.82
  14.51
  15.24
  16.00
  16.80
  17.64
  18.52
PV of cash for distribution, $m
  73
  73
  75
  89
  105
  120
  134
  146
  157
  166
  167
  170
  171
  168
  163
  155
  146
  134
  122
  108
  95
  81
  69
  57
  46
  36
  28
  21
  16
  11
Current shareholders' claim on cash, %
  99.0
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5
  98.5

Novanta Inc., formerly GSI Group Inc., designs, develops, manufactures and sells precision photonic and motion control components and subsystems. The Company's segments are Photonics, Vision and Precision Motion. The Photonics segment designs, manufactures and markets photonics-based solutions, including carbon dioxide (CO2) laser sources, laser scanning and laser beam delivery products, to customers around the world. The Vision Technologies segment designs, manufactures and markets a range of medical grade technologies, including visualization solutions, imaging informatics products, optical data collection and machine vision technologies, radio frequency identification (RFID) technologies, and thermal printers, to customers around the world. The Company's Precision Motion segment designs, manufactures and markets optical encoders, precision motors and other motion control technology, air bearing spindles and precision machined components to customers around the world.

FINANCIAL RATIOS  of  Novanta (NOVT)

Valuation Ratios
P/E Ratio 112
Price to Sales 6.4
Price to Book 9.5
Price to Tangible Book
Price to Cash Flow 51.3
Price to Free Cash Flow 68.4
Growth Rates
Sales Growth Rate 2.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate 19.1%
Financial Strength
Quick Ratio 10
Current Ratio 0
LT Debt to Equity 30.5%
Total Debt to Equity 33.2%
Interest Coverage 12
Management Effectiveness
Return On Assets 5.7%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 3.2%
Return On Equity 8.7%
Return On Equity - 3 Yr. Avg. 4.6%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 42.1%
Gross Margin - 3 Yr. Avg. 41.8%
EBITDA Margin 14.5%
EBITDA Margin - 3 Yr. Avg. 11.9%
Operating Margin 8.6%
Oper. Margin - 3 Yr. Avg. 5.7%
Pre-Tax Margin 8.6%
Pre-Tax Margin - 3 Yr. Avg. 5.3%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 2.9%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. 20.2%
Payout Ratio 0%

NOVT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NOVT stock intrinsic value calculation we used $521.29 million for the last fiscal year's total revenue generated by Novanta. The default revenue input number comes from 0001 income statement of Novanta. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NOVT stock valuation model: a) initial revenue growth rate of 26.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.5%, whose default value for NOVT is calculated based on our internal credit rating of Novanta, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Novanta.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NOVT stock the variable cost ratio is equal to 82.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $37 million in the base year in the intrinsic value calculation for NOVT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Novanta.

Corporate tax rate of 27% is the nominal tax rate for Novanta. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NOVT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NOVT are equal to 35%.

Life of production assets of 10.3 years is the average useful life of capital assets used in Novanta operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NOVT is equal to 19%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $311.545 million for Novanta - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.657 million for Novanta is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Novanta at the current share price and the inputted number of shares is $2.5 billion.

RELATED COMPANIES Price Int.Val. Rating
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ZBRA Zebra Technolo 178.91 67.80  str.sell
FTV Fortive 75.73 86.27  hold
CGNX Cognex 42.08 32.17  sell
IIVI II-VI 37.68 38.50  hold
HON Honeywell Inte 147.77 242.19  str.buy

COMPANY NEWS

▶ Novanta: 3Q Earnings Snapshot   [07:45AM  Associated Press]
▶ Is It Time To Consider Buying Novanta Inc (NASDAQ:NOVT)?   [Oct-12-18 10:31AM  Simply Wall St.]
▶ Novanta Sees Hammer Chart Pattern: Time to Buy?   [Oct-04-18 05:14AM  Zacks]
▶ VA nursing home signals continued growth in Kernersville   [Aug-08-18 07:06PM  American City Business Journals]
▶ Novanta Inc to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ Novanta: 2Q Earnings Snapshot   [07:40AM  Associated Press]
▶ Novanta: 1Q Earnings Snapshot   [May-08-18 07:40AM  Associated Press]
▶ Novanta Acquired Zettlex   [May-03-18 07:30AM  PR Newswire]
▶ Novanta posts 4Q loss   [Feb-28-18 10:23AM  Associated Press]
▶ Novanta Inc. to Host Earnings Call   [08:20AM  ACCESSWIRE]
▶ ETFs with exposure to Novanta, Inc. : December 14, 2017   [Dec-14-17 01:59PM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : November 17, 2017   [Nov-17-17 12:33PM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : November 6, 2017   [Nov-06-17 12:10PM  Capital Cube]
▶ Novanta posts 3Q profit   [Nov-01-17 05:11PM  Associated Press]
▶ What Is Novanta Incs (NOVT) Share Price Doing?   [Oct-22-17 04:36PM  Simply Wall St.]
▶ ETFs with exposure to Novanta, Inc. : October 11, 2017   [Oct-11-17 11:53AM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : September 28, 2017   [Sep-28-17 10:17AM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : September 13, 2017   [Sep-13-17 07:13PM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : September 2, 2017   [Sep-01-17 08:25PM  Capital Cube]
▶ Novanta posts 2Q profit   [Aug-03-17 07:40PM  Associated Press]
▶ ETFs with exposure to Novanta, Inc. : June 19, 2017   [Jun-19-17 03:48PM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : June 1, 2017   [Jun-01-17 02:00PM  Capital Cube]
▶ ETFs with exposure to Novanta, Inc. : May 22, 2017   [May-22-17 01:57PM  Capital Cube]
▶ Novanta posts 1Q profit   [09:08AM  Associated Press]

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