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 $14.76 per share. The share price was $122.61 on November 10, 2026, 731% 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% | $2.14 | -98% |
| Base | 10.5% | 9.0% | $14.76 | -88% |
| Bull | 15.5% | 8.0% | $39.92 | -67% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $24.31 | $27.26 | $30.86 | $35.36 | $41.14 |
| 8.0% | $17.16 | $19.07 | $21.33 | $24.04 | $27.35 |
| 9.0% | $11.95 | $13.26 | $14.76 | $16.52 | $18.60 |
| 10.0% | $7.99 | $8.92 | $9.97 | $11.17 | $12.56 |
| 11.0% | $4.88 | $5.56 | $6.32 | $7.18 | $8.15 |
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