What is Novanta Inc worth?
With the base-case assumptions below, a discounted cash flow model on Novanta Inc's reported free cash flow gives $46.63 per share. The share price was $143.93 on September 25, 2026, 209% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 5.5% | 10.0% | $34.01 | -76% |
| Base | 10.5% | 9.0% | $46.63 | -68% |
| Bull | 15.5% | 8.0% | $71.79 | -50% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $56.18 | $59.13 | $62.73 | $67.23 | $73.01 |
| 8.0% | $49.03 | $50.94 | $53.20 | $55.91 | $59.22 |
| 9.0% | $43.82 | $45.12 | $46.63 | $48.39 | $50.47 |
| 10.0% | $39.85 | $40.78 | $41.84 | $43.04 | $44.43 |
| 11.0% | $36.75 | $37.43 | $38.19 | $39.04 | $40.01 |
Where the presets come from
Base: years 1 to 5 grow at Novanta Inc's revenue growth rate over the last 5 fiscal years (10.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions