NVMI
NOVA LTD.
Next earnings Aug 5, 2026 · consensus $2.46 EPS, $255M rev
$470.14
▼ -9.66%$470.14▲ +75.66%
over 1Y
L $237.16H $605.65
Today-9.7%
1W-12.0%
1M-10.1%
3M+6.3%
YTD+35.4%
1Y+75.7%
Hold
Conviction
Horizon
Long (>12mo)
Street · 15 analysts
Buy
Elite semiconductor-metrology growth (rev +31%, 57% gross margin) but a 72x P/E prices in near-perfection.
Revenue (FY2025) $881M · FY2025
The read
Middling fundamentals and a rich price (~36% above fair value) leave little margin of safety — a wait-and-see.
Nova is a high-quality semiconductor metrology and process-control vendor riding the chip capex cycle. FY2025 was exceptional: revenue grew 31.0% to $881M, net income jumped 41.1% to $259M, and diluted EPS rose 38.4% to $7.96. Profitability is elite for a hardware company — 57.4% gross margin, 28.8% operating margin and 29.4% net margin — and the multi-year record shows genuine compounding (revenue up from $416M in FY2021), with R&D up 30.1% to $143M funding the product pipeline.
The balance sheet is solid: stockholders' equity of $1.32B against $1.04B of liabilities (0.79x), $214M cash and a strong current position. Operating cash flow of $246M (up 4.4%) trails the earnings growth, a point to watch, but the business is clearly self-funding with light capex ($27.7M). Return on equity of 19.7% is healthy, if below the margin profile would suggest given the equity build.
Is NVMI a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~470.14
- Short call 495 @ ~71.88 est
debit $39,826max +$9,674max −$39,825BE 398.26
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $416M | $571M | $518M | $672M | $881M |
| Gross profit | $235M | $317M | $293M | $387M | $505M |
| Operating income | $112M | $150M | $132M | $188M | $253M |
| Net income | $93.1M | $140M | $136M | $184M | $259M |
| Diluted EPS | $3.12 | $4.43 | $4.28 | $5.75 | $7.96 |
| Net margin | 22.4% | 24.6% | 26.3% | 27.3% | 29.4% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$14.7B
EV / EBITDA56.9
EV / Sales16.7
EV / FCF67.6
P / FCF68.6
PEG (trailing)1.44
Earnings yield1.7%
FCF yield1.5%
Quality & risk
ROIC (est.)15.2%
Free cash flow$218M
Total debt—
Net cash$214M
Altman Z-Score10.57 safe
Piotroski F-Score3/8
Capital returns
Buyback yield0.2%
Dividend yield (est.)—
Shareholder yield0.2%
Shares Δ YoY+8.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Recent filings
all on EDGAR ↗4Period ending 2026-07-012026-07-02open ↗6-KPeriod ending 2026-07-022026-07-02open ↗144Filing2026-07-02open ↗4Period ending 2026-06-222026-06-25open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-182026-06-22open ↗4Period ending 2026-06-182026-06-22open ↗4Period ending 2026-06-182026-06-22open ↗4Period ending 2026-06-182026-06-22open ↗4Period ending 2026-06-182026-06-22open ↗
Frequently asked
- Is NOVA LTD. (NVMI) a buy?
- NVMI currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Elite semiconductor-metrology growth (rev +31%, 57% gross margin) but a 72x P/E prices in near-perfection.
- What is NVMI's fair value?
- A Modified-Graham model based on NVMI's SEC fundamentals estimates a fair value of about $302.48. It is an estimate from reported earnings, not a price target.
- Is NVMI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NVMI currently appears overvalued relative to its SEC-grounded earnings power.
- What is NOVA LTD.'s quality score?
- NVMI scores 71.57358804427534/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001109345, latest 4 filed 2026-07-02) · EODHD · Proprietary analysis · as of 6/21/2026, 8:42:53 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:42 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.