NVCR · Novocure Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $174.06M | - | $167.20M | $158.81M | $154.99M | - | $155.09M | $150.36M | $138.50M | - |
| Cost of Revenue | $38.93M | - | $44.73M | $41.47M | $38.52M | - | $35.37M | $34.65M | $33.69M | - |
| Gross Profit | $135.13M | - | $122.47M | $117.33M | $116.47M | - | $119.72M | $115.70M | $104.81M | - |
| R&D | $58.34M | - | $54.03M | $55.83M | $53.78M | - | $51.88M | $54.95M | $51.60M | - |
| SG&A | $85.85M | - | $45.92M | $43.95M | $44.77M | - | $40.10M | $37.71M | $39.53M | - |
| Total Operating Expenses | $202.55M | - | $158.50M | $156.85M | $154.34M | - | $151.81M | $149.28M | $146.33M | - |
| D&A | $4.12M | - | $3.66M | $3.44M | $3.33M | - | $2.46M | $2.86M | $2.81M | - |
| Operating Income | ($67.42M) | - | ($36.02M) | ($39.52M) | ($37.87M) | - | ($32.09M) | ($33.58M) | ($41.52M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $1.88M | - | $7.25M | $5.16M | $4.02M | - | $8.98M | $10.65M | $7.12M | - |
| Net Income | ($71.14M) | - | ($37.27M) | ($40.14M) | ($34.32M) | - | ($30.57M) | ($33.38M) | ($38.76M) | - |
| EPS - Basic | ($0.62) | - | ($0.33) | ($0.36) | ($0.31) | - | ($0.28) | ($0.31) | ($0.36) | - |
| EPS - Diluted | ($0.62) | - | ($0.33) | ($0.36) | ($0.31) | - | ($0.28) | ($0.31) | ($0.36) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $87.53M | $93.55M | $342.12M | $149.62M | $127.28M | $163.77M | $185.42M | $164.80M | $453.76M | $240.82M |
| Accounts Receivable | $93.27M | $89.44M | $85.23M | $89.92M | $84.51M | $74.23M | $67.06M | $64.70M | $65.09M | $61.22M |
| Inventory | $43.46M | $41.11M | $39.10M | $40.21M | $39.47M | $35.09M | $39.10M | $40.44M | $42.39M | $38.15M |
| Accounts Payable | $127.24M | $122.23M | $118.92M | $103.68M | $95.09M | $105.09M | $91.32M | $90.17M | $84.32M | $94.39M |
| Current Assets | $631.66M | $646.73M | $1.20B | $1.08B | $1.09B | $1.11B | $1.10B | $1.09B | $1.00B | $1.03B |
| Total Assets | $787.93M | $804.33M | $1.36B | $1.25B | $1.25B | $1.24B | $1.22B | $1.21B | $1.12B | $1.15B |
| Current Liabilities | $217.58M | $223.23M | $776.01M | $749.63M | $743.30M | $756.38M | $735.00M | $169.18M | $160.23M | $179.12M |
| Long-term Debt | - | $195.05M | - | - | - | $97.30M | - | - | $569.65M | $568.82M |
| Total Liabilities | $457.21M | $463.86M | $1.02B | $896.43M | $886.85M | $880.61M | $861.21M | $850.42M | $762.07M | $783.63M |
| Stockholders' Equity | $330.72M | $340.47M | $341.33M | $349.44M | $361.96M | $360.18M | $360.78M | $361.75M | $359.36M | $362.50M |
| Retained Earnings | ($1.36B) | ($1.29B) | ($1.27B) | ($1.23B) | ($1.19B) | ($1.15B) | ($1.09B) | ($1.06B) | ($1.02B) | ($985.50M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($13.52M) | - | $20.57M | ($15.94M) | ($35.66M) | - | $10.38M | ($1.72M) | ($31.57M) | - |
| Investing Cash Flow | $7.75M | - | $71.44M | $35.99M | ($6.47M) | - | $10.19M | ($374.44M) | $246.22M | - |
| Financing Cash Flow | ($166.0K) | - | $100.52M | $2.39M | $5.25M | - | $100.0K | $87.32M | $213.0K | - |
| CapEx | $5.15M | - | $5.66M | $5.49M | $10.61M | - | $10.68M | $11.45M | $11.78M | - |
| Free Cash Flow | ($18.67M) | - | $14.92M | ($21.42M) | ($46.28M) | - | ($307.0K) | ($13.17M) | ($43.36M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 77.6% | - | 73.2% | 73.9% | 75.1% | - | 77.2% | 77.0% | 75.7% | - |
| Operating margin | -38.7% | - | -21.5% | -24.9% | -24.4% | - | -20.7% | -22.3% | -30.0% | - |
| EBITDA margin | -36.4% | - | -19.4% | -22.7% | -22.3% | - | -19.1% | -20.4% | -27.9% | - |
| Net margin | -40.9% | - | -22.3% | -25.3% | -22.1% | - | -19.7% | -22.2% | -28.0% | - |
| Free cash flow margin | -10.7% | - | 8.9% | -13.5% | -29.9% | - | -0.2% | -8.8% | -31.3% | - |
| FCF / Net income | 0.26 | - | -0.40 | 0.53 | 1.35 | - | 0.01 | 0.39 | 1.12 | - |
| R&D / Revenue | 33.5% | - | 32.3% | 35.2% | 34.7% | - | 33.5% | 36.5% | 37.3% | - |
| SG&A / Revenue | 49.3% | - | 27.5% | 27.7% | 28.9% | - | 25.9% | 25.1% | 28.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -9.0% | - | -2.7% | -3.2% | -2.7% | - | -2.5% | -2.8% | -3.5% | - |
| Return on equity | -21.5% | - | -10.9% | -11.5% | -9.5% | - | -8.5% | -9.2% | -10.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | -3.5% | - |
| Liquidity | ||||||||||
| Current ratio | 2.90 | 2.90 | 1.55 | 1.45 | 1.47 | 1.46 | 1.49 | 6.46 | 6.26 | 5.78 |
| Quick ratio | 2.70 | 2.71 | 1.50 | 1.39 | 1.41 | 1.42 | 1.44 | 6.22 | 5.99 | 5.56 |
| Cash ratio | 0.40 | 0.42 | 0.44 | 0.20 | 0.17 | 0.22 | 0.25 | 0.97 | 2.83 | 1.34 |
| Leverage | ||||||||||
| Debt / Equity | - | 0.57 | - | - | - | 0.27 | - | - | 1.59 | 1.57 |
| Debt / Assets | - | 0.24 | - | - | - | 0.08 | - | - | 0.51 | 0.50 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.38 | 2.36 | 3.99 | 3.57 | 3.45 | 3.44 | 3.39 | 3.35 | 3.12 | 3.16 |
| Liabilities / Assets | 0.58 | 0.58 | 0.75 | 0.72 | 0.71 | 0.71 | 0.70 | 0.70 | 0.68 | 0.68 |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | - | 0.12 | 0.13 | 0.12 | - | 0.13 | 0.12 | 0.12 | - |
| Inventory turnover | 0.90 | - | 1.14 | 1.03 | 0.98 | - | 0.90 | 0.86 | 0.79 | - |
| Days sales outstanding | 196d | - | 186d | 207d | 199d | - | 158d | 157d | 172d | - |
| Days inventory outstanding | 407d | - | 319d | 354d | 374d | - | 403d | 426d | 459d | - |
| Days payable outstanding | 1193d | - | 970d | 912d | 901d | - | 942d | 950d | 914d | - |
| Cash conversion cycle | -590d | - | -465d | -352d | -328d | - | -381d | -367d | -283d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 3.8x | - | 4.2x | 5.7x | 5.4x | - | 4.7x | 5.1x | 4.7x | - |
| P / S | 7.1x | - | 8.6x | 12.5x | 12.7x | - | 10.9x | 12.3x | 12.1x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 12.3% | - | 7.8% | 5.6% | 11.9% | - | 21.8% | 19.3% | 13.4% | - |
| Revenue CAGR (3y) | 12.5% | - | 8.5% | 4.1% | 4.1% | - | 5.1% | 4.0% | 0.9% | - |
| Revenue CAGR (5y) | 5.3% | - | 4.7% | 6.5% | 8.8% | - | 11.0% | 11.6% | 13.6% | - |
| Gross profit growth (YoY) | 16.0% | - | 2.3% | 1.4% | 11.1% | - | 25.7% | 25.7% | 13.2% | - |
| Operating income growth (YoY) | -78.1% | - | -12.2% | -17.7% | 8.8% | - | 44.9% | 46.4% | 31.1% | - |
| Net income growth (YoY) | -107.3% | - | -21.9% | -20.3% | 11.5% | - | 38.2% | 41.9% | 27.0% | - |
| EPS growth (YoY) | -100.0% | - | -17.9% | -16.1% | 13.9% | - | 39.1% | 42.6% | 28.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 59.7% | - | - | -62.7% | -6.7% | - | 98.8% | 55.6% | -90.0% | - |
| FCF CAGR (5y) | - | - | -11.9% | - | - | - | - | - | - | - |
| Book value growth (YoY) | -8.6% | -5.5% | -5.4% | -3.4% | 0.7% | -0.6% | -8.4% | -13.0% | -16.8% | -17.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$905.63M totalUS$385.63M · 42.6%
International Markets$250.28M · 27.6%
DE$79.41M · 8.8%
FR$76.19M · 8.4%
Other International Markets$56.90M · 6.3%
JP$37.79M · 4.2%
CN$19.44M · 2.1%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing NovoCure Ltd against the 5 most active filers in the same SIC group.