NVMI NOVA LTD.

Overview and Growth

In fiscal 2025, NOVA LTD. recorded $880.58M of revenue, net income of $259.22M, and an operating cash inflow of $245.61M. Revenue of $880.58M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $672.40M in fiscal 2024, revenue recorded a 31.0% year-over-year increase. Diluted earnings per share were $7.96, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $5.75 in fiscal 2024, the current result was 38.4% higher. Revenue equaled 0.37x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $505.20M as gross profit before recognizing operating expenses and other items. Gross margin was 57.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $253.47M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 28.8%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $259.22M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 29.4% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $303.29M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 34.4%, relating income before taxes directly to revenue. The reported income-tax provision was $44.06M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 14.5% of pretax income, showing the tax burden absorbed by the year’s earnings. The relationship between net income and period-end equity was 19.7%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 11.0%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

At period end, the $2.36B asset base was financed through $1.04B of liabilities and $1.32B of equity. The near-term balance sheet paired $1.41B of current assets with $224.53M of current liabilities at the reporting date. The current ratio was 6.28x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $214.46M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 95.5% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The liabilities-to-assets relationship was 44.2%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 9.1% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 69.8% from $1.39B in fiscal 2024, leaving current total assets higher year over year. Reported equity changed 42.1% from $927.79M in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

The company reported $245.61M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 0.95x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $27.70M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 11.3%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $217.91M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 24.7%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 9.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.