Nova Ltd.
- Open
- 353.51
- Day high
- 353.51
- Day low
- 346.25
- Prev close
- 349.06
- Volume
- 303K
- Mkt cap
- $11.1B
- P/E (TTM)
- 40.1
- EPS (TTM)
- $8.68
- P/B
- 7.6
- P/S
- 11.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.4M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
Nova Ltd. (NVMI) is a Technology company listed on NASDAQ. The stock is up 47% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4). Drillr has 1 published research article covering NVMI.
Nova Ltd. (NVMI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NVMI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $2.41 | $2.51 | +4.0% | $255M | +1.5% |
| May 14, 2026 | $2.21 | $2.33 | +5.3% | $235M | +2.5% |
| Feb 12, 2026 | $2.14 | $2.14 | -0.0% | $223M | -2.1% |
| Nov 6, 2025 | $2.16 | $2.16 | +0.1% | $225M | +0.3% |
| Aug 7, 2025 | $2.06 | $2.20 | +7.0% | $220M | +1.1% |
| May 8, 2025 | $2.08 | $2.18 | +5.0% | $213M | +2.0% |
| Feb 13, 2025 | $1.82 | $1.94 | +6.7% | $195M | -0.6% |
| Nov 7, 2024 | $1.68 | $1.74 | +3.9% | $179M | +5.4% |
| Aug 8, 2024 | $1.35 | $1.61 | +18.9% | $157M | +7.1% |
| May 9, 2024 | $1.27 | $1.39 | +9.6% | $142M | +4.3% |
| Feb 15, 2024 | $1.24 | $1.36 | +9.7% | $134M | +4.0% |
| Nov 9, 2023 | $1.09 | $1.23 | +12.5% | $129M | +3.3% |
NVMI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Waisman Gabrielofficer: CEO & President | Sell | 2,966 | $501.30 |
| Jul 2, 2026 | Waisman Gabrielofficer: CEO & President | Grant | 7,056 | — |
| Jun 25, 2026 | Garty Yanivdirector | Sell | 366 | $581.20 |
| Jun 24, 2026 | Sagiv Saritdirector | Sell | 366 | $581.20 |
| Jun 24, 2026 | Oppenhaim Eitandirector | Sell | 1,290 | $581.20 |
| Jun 24, 2026 | Simon Zehavadirector | Sell | 366 | $581.20 |
| Jun 24, 2026 | Simon Zehavadirector | Sell | 454 | $536.52 |
| Jun 24, 2026 | Sagiv Saritdirector | Sell | 454 | $536.52 |
| Jun 22, 2026 | Garty Yanivdirector | Grant | 334 | — |
| Jun 22, 2026 | Sagiv Saritdirector | Grant | 334 | — |
| Jun 22, 2026 | COHEN AVIdirector | Grant | 334 | — |
| Jun 22, 2026 | Simon Zehavadirector | Grant | 334 | — |
| Jun 22, 2026 | Cohen Raanandirector | Grant | 334 | — |
| Jun 22, 2026 | Oppenhaim Eitandirector | Grant | 1,043 | — |
| Jun 2, 2026 | Waisman Gabrielofficer: CEO & President | Grant | 3,000 | — |
Source: NVMI SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full NVMI insider & 13F page →Nova Ltd. company profile
Overview
Nova Ltd. (NASDAQ:NVMI) is an Israeli-based semiconductor equipment company founded in 1993 and headquartered in Rehovot, Israel. The company went public in 2000 and was formerly known as Nova Measuring Instruments Ltd. before changing its name to Nova Ltd. in July 2021. Nova specializes in designing, developing, and manufacturing process control systems used in semiconductor manufacturing, serving customers globally across Israel, Taiwan, the United States, China, Korea, and other international markets. The company has evolved from a niche metrology provider into a comprehensive process control solutions company, experiencing significant growth driven by artificial intelligence demand and advanced semiconductor manufacturing trends.
Business
Nova operates in the semiconductor equipment industry, specifically in the metrology and process control segment. The company provides critical measurement and inspection systems that semiconductor manufacturers use to ensure quality and precision during chip production. Nova's core offerings center around metrology platforms - sophisticated measurement systems that analyze various aspects of semiconductor wafers during manufacturing. These systems fall into three main categories: Dimensional Metrology: These systems measure the physical dimensions and structures of semiconductor features, including critical dimensions (CD) and overlay measurements. Nova's flagship products include the PRISM platform for standalone optical critical dimension measurements and VeraFlex systems for integrated metrology solutions. Films and Materials Metrology: These platforms analyze the thickness, composition, and properties of thin films deposited during semiconductor manufacturing. Key products include XPS (X-ray Photoelectron Spectroscopy) systems for chemical analysis, XRF (X-ray Fluorescence) for elemental composition, and Ellipsometry systems for film thickness measurements. Chemical Metrology: This newer segment focuses on analyzing the chemical composition and contamination levels in semiconductor materials, particularly important for advanced packaging applications. The company serves various semiconductor manufacturing process steps including lithography, etching, chemical mechanical planarization, deposition, electrochemical plating, and advanced packaging. Nova's revenue is distributed approximately 72-75% from logic and foundry customers and 25-28% from memory manufacturers. The advanced packaging segment has emerged as a significant growth driver, representing about 15% of product revenue and showing double-digit growth rates.
Revenue model
Nova generates revenue primarily through product sales of its metrology equipment systems, with additional income from service contracts and software licensing. The company's customers are semiconductor manufacturers including foundries, memory producers, and integrated device manufacturers who purchase Nova's systems to maintain quality control in their fabrication facilities. The business model is characterized by high-value capital equipment sales typically ranging from hundreds of thousands to several million dollars per system, followed by recurring service revenue from maintenance contracts, spare parts, and software upgrades. Service revenue has grown to over $100 million annually, providing a stable recurring income stream. Several factors influence Nova's profitability margins. Positive margin drivers include the company's focus on advanced technology nodes where process control becomes more critical and customers are willing to pay premium prices, the growing complexity of semiconductor manufacturing requiring more metrology steps, and Nova's unique technological capabilities in materials metrology that command higher margins. The shift toward advanced packaging and gate-all-around transistor architectures creates new measurement challenges that increase the total addressable market. Margin pressures come from competitive dynamics in the metrology market, particularly from larger players like KLA Corporation and Applied Materials. Geopolitical tensions and trade restrictions, particularly affecting China operations, can impact both revenue and margins. Additionally, tariffs on Chinese operations are expected to create 30-50 basis points of gross margin pressure. Economic cyclicality in the semiconductor industry creates demand volatility, while customer concentration risk exists as the company serves a relatively small number of large semiconductor manufacturers globally.
Competitive moat
Nova's competitive moat is moderately strong but faces significant challenges from larger, well-resourced competitors. The company's primary moat stems from its specialized technological expertise in advanced metrology applications, particularly in materials metrology and chemical analysis where it has developed unique capabilities that are difficult to replicate quickly. The company benefits from high customer switching costs once its systems are integrated into production lines, as changing metrology providers requires extensive requalification processes that can take months or years. Nova has also built strong relationships with leading semiconductor manufacturers through its focus on cutting-edge applications like gate-all-around transistors, advanced packaging, and high-bandwidth memory manufacturing. However, Nova's moat faces substantial competitive pressure from much larger players, particularly KLA Corporation, which dominates the broader metrology market with significantly greater resources for R&D investment and global support infrastructure. Applied Materials and other major semiconductor equipment companies also compete in overlapping segments. These competitors have advantages in scale, customer relationships, and the ability to offer integrated solutions across multiple process steps. Nova's strategy to maintain its competitive position involves focusing on niche applications where its specialized expertise provides differentiation, such as advanced packaging metrology and emerging technologies like gate-all-around manufacturing. The company's relatively small size allows for faster innovation cycles and more customized solutions, but this advantage may diminish as the market matures and larger players develop competing capabilities. The company's moat is strongest in its specialized materials metrology applications but remains vulnerable to competitive pressure in its core dimensional metrology business.
Risks & safety
Nova demonstrates a strong financial position with substantial margin of safety characteristics: • Cash Position: Strong cash reserves of $141 million with total cash and short-term investments, providing significant liquidity buffer • Debt Levels: Moderate debt-to-equity ratio of 0.24, indicating conservative capital structure with low solvency risk • Profitability: Robust free cash flow generation of $60-68 million quarterly, demonstrating strong cash conversion • Current Ratio: Healthy current ratio of 2.18, indicating strong short-term liquidity position • Valuation Metrics: - P/E ratio of 20.8 appears reasonable for a growing technology company - EV/EBITDA of 20.1 suggests moderate valuation premium - Price-to-book ratio of 5.5 reflects growth expectations but not excessive • Other Considerations: Strong return on equity of 6.6% quarterly (19.8% annually), diversified customer base reducing concentration risk, and exposure to cyclical semiconductor industry creating some volatility risk but offset by strong fundamentals.
Recent development
Over the past few years, Nova has executed several strategic initiatives to expand its market position and technological capabilities. The company has made significant investments in advanced packaging metrology, which has become a major growth driver representing 15% of product revenue and showing double-digit growth rates. This expansion was further strengthened by the acquisition of Sentronics, enhancing Nova's capabilities in advanced packaging applications. Nova has positioned itself at the forefront of the gate-all-around transistor transition, a next-generation semiconductor architecture that requires more complex metrology solutions. The company estimates this opportunity could generate $500 million in aggregate revenue by 2026, with 20-30% more metrology steps required compared to current technologies. Nova has secured engagements with all major gate-all-around manufacturers and has received initial orders. The company has expanded its facilities and global presence, including moving into a new facility in Bad Urach, Germany, opening innovation centers in the United States, and expanding offices in Korea. These investments support Nova's goal of reaching $1 billion in annual revenue. Nova has also launched new platforms including the Nova Velocity for high-productivity standalone tools and expanded its PRISM platform capabilities, achieving record sales in standalone solutions. In materials metrology, Nova has strengthened its position through record sales of its VeraFlex, Ellipson, and Metrion platforms, while building evaluation footprints with memory manufacturers for future growth opportunities. The company has also focused on high-bandwidth memory (HBM) applications, capitalizing on AI-driven demand for advanced memory solutions.
NVMI company profile · for informational purposes only — not investment advice.
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