Novanta Balance Sheet Health
Financial Health criteria checks 6/6
Novanta has a total shareholder equity of $673.5M and total debt of $354.4M, which brings its debt-to-equity ratio to 52.6%. Its total assets and total liabilities are $1.2B and $552.6M respectively. Novanta's EBIT is $117.5M making its interest coverage ratio 4.6. It has cash and short-term investments of $105.1M.
Key information
52.6%
Debt to equity ratio
US$354.37m
Debt
| Interest coverage ratio | 4.6x |
| Cash | US$105.05m |
| Equity | US$673.46m |
| Total liabilities | US$552.60m |
| Total assets | US$1.23b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: NOVT N's short term assets ($415.3M) exceed its short term liabilities ($139.2M).
Long Term Liabilities: NOVT N's short term assets ($415.3M) exceed its long term liabilities ($413.4M).
Debt to Equity History and Analysis
Debt Level: NOVT N's net debt to equity ratio (37%) is considered satisfactory.
Reducing Debt: NOVT N's debt to equity ratio has reduced from 56.3% to 52.6% over the past 5 years.
Debt Coverage: NOVT N's debt is well covered by operating cash flow (33.9%).
Interest Coverage: NOVT N's interest payments on its debt are well covered by EBIT (4.6x coverage).