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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $655.35M | $605.22M | $509.34M | $537.84M | $535.03M | $494.37M |
| Cost of Revenue | $166.88M | $137.18M | $128.28M | $114.87M | $114.88M | $106.50M |
| Gross Profit | $488.47M | $468.04M | $381.06M | $422.97M | $420.15M | $387.87M |
| R&D | $224.54M | $209.65M | $223.06M | $206.09M | $201.30M | $132.01M |
| SG&A | $177.67M | $189.83M | $164.06M | $132.75M | $126.13M | $107.44M |
| Total Operating Expenses | $642.27M | $638.53M | $613.93M | $512.50M | $464.49M | $357.46M |
| D&A | $14.65M | $11.23M | $10.97M | $10.62M | $10.25M | $9.15M |
| Operating Income | ($153.80M) | ($170.50M) | ($232.87M) | ($89.52M) | ($44.33M) | $30.40M |
| Interest Expense | $22.22M | $11.66M | $4.91M | $8.11M | $8.84M | $18.05M |
| Income Tax | ($23.0K) | $37.47M | $15.30M | $10.69M | $6.28M | ($1.71M) |
| Net Income | ($136.23M) | ($168.63M) | ($207.04M) | ($92.53M) | ($58.35M) | $19.81M |
| EPS - Basic | ($1.22) | ($1.56) | ($1.95) | ($0.88) | ($0.56) | $0.20 |
| EPS - Diluted | ($1.22) | ($1.56) | ($1.95) | ($0.88) | ($0.56) | $0.18 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $93.55M | $163.77M | $240.82M | $115.33M | $208.80M | $234.67M |
| Accounts Receivable | $89.44M | $74.23M | $61.22M | $86.26M | $93.57M | $96.70M |
| Inventory | $41.11M | $35.09M | $38.15M | $29.38M | $24.43M | $27.42M |
| Accounts Payable | $122.23M | $105.09M | $94.39M | $85.20M | $72.60M | $53.65M |
| Current Assets | $646.73M | $1.11B | $1.03B | $1.11B | $1.07B | $999.44M |
| Total Assets | $804.33M | $1.24B | $1.15B | $1.19B | $1.14B | $1.05B |
| Current Liabilities | $223.23M | $756.38M | $179.12M | $158.78M | $142.60M | $113.61M |
| Long-term Debt | $195.05M | $97.30M | $568.82M | $565.51M | $562.22M | $429.90M |
| Total Liabilities | $463.86M | $880.61M | $783.63M | $750.48M | $729.00M | $575.46M |
| Stockholders' Equity | $340.47M | $360.18M | $362.50M | $441.17M | $410.49M | $476.53M |
| Retained Earnings | ($1.29B) | ($1.15B) | ($985.50M) | ($778.46M) | ($685.93M) | ($631.08M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($49.03M) | ($26.37M) | ($73.34M) | $30.79M | $82.76M | $99.15M |
| Investing Cash Flow | $437.28M | ($140.24M) | $184.15M | ($139.96M) | ($144.83M) | ($472.85M) |
| Financing Cash Flow | ($451.34M) | $90.31M | $15.79M | $15.49M | $25.70M | $440.21M |
| CapEx | $26.65M | $42.85M | $27.09M | $21.36M | $24.17M | $14.97M |
| Free Cash Flow | ($75.68M) | ($69.22M) | ($100.43M) | $9.43M | $58.59M | $84.18M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 74.5% | 77.3% | 74.8% | 78.6% | 78.5% | 78.5% |
| Operating margin | -23.5% | -28.2% | -45.7% | -16.6% | -8.3% | 6.1% |
| EBITDA margin | -21.2% | -26.3% | -43.6% | -14.7% | -6.4% | 8.0% |
| Net margin | -20.8% | -27.9% | -40.6% | -17.2% | -10.9% | 4.0% |
| Free cash flow margin | -11.5% | -11.4% | -19.7% | 1.8% | 11.0% | 17.0% |
| FCF / Net income | 0.56 | 0.41 | 0.49 | -0.10 | -1.00 | 4.25 |
| R&D / Revenue | 34.3% | 34.6% | 43.8% | 38.3% | 37.6% | 26.7% |
| SG&A / Revenue | 27.1% | 31.4% | 32.2% | 24.7% | 23.6% | 21.7% |
| Effective tax rate | - | - | - | - | - | -9.4% |
| Return on assets | -16.9% | -13.6% | -18.1% | -7.8% | -5.1% | 1.9% |
| Return on equity | -40.0% | -46.8% | -57.1% | -21.0% | -14.2% | 4.2% |
| Return on invested capital | -22.7% | -29.4% | -19.8% | -7.0% | -3.6% | 3.4% |
| Liquidity | ||||||
| Current ratio | 2.90 | 1.46 | 5.78 | 7.00 | 7.53 | 8.80 |
| Quick ratio | 2.71 | 1.42 | 5.56 | 6.82 | 7.36 | 8.56 |
| Cash ratio | 0.42 | 0.22 | 1.34 | 0.73 | 1.46 | 2.07 |
| Leverage | ||||||
| Debt / Equity | 0.57 | 0.27 | 1.57 | 1.28 | 1.37 | 0.90 |
| Debt / Assets | 0.24 | 0.08 | 0.50 | 0.47 | 0.49 | 0.41 |
| Debt / EBITDA | - | - | - | - | - | 10.87 |
| Interest coverage | -6.9x | -14.6x | -47.5x | -11.0x | -5.0x | 1.7x |
| Equity multiplier | 2.36 | 3.44 | 3.16 | 2.70 | 2.78 | 2.21 |
| Liabilities / Assets | 0.58 | 0.71 | 0.68 | 0.63 | 0.64 | 0.55 |
| Efficiency | ||||||
| Asset turnover | 0.81 | 0.49 | 0.44 | 0.45 | 0.47 | 0.47 |
| Inventory turnover | 4.06 | 3.91 | 3.36 | 3.91 | 4.70 | 3.88 |
| Days sales outstanding | 50d | 45d | 44d | 59d | 64d | 71d |
| Days inventory outstanding | 90d | 93d | 109d | 93d | 78d | 94d |
| Days payable outstanding | 267d | 280d | 269d | 271d | 231d | 184d |
| Cash conversion cycle | -128d | -141d | -116d | -119d | -89d | -18d |
| Valuation | ||||||
| P / E | - | - | - | - | - | 961.3x |
| P / B | 4.2x | 8.9x | 4.4x | 17.4x | 18.9x | 39.5x |
| P / S | 2.2x | 5.3x | 3.1x | 14.3x | 14.5x | 38.1x |
| EV / EBITDA | - | - | - | - | - | 481.3x |
| Growth | ||||||
| Revenue growth (YoY) | 8.3% | 18.8% | -5.3% | 0.5% | 8.2% | 40.7% |
| Revenue CAGR (3y) | 6.8% | 4.2% | 1.0% | 15.3% | 86.2% | 40.8% |
| Revenue CAGR (5y) | 5.8% | 11.5% | 43.8% | 24.9% | 45.2% | 116.6% |
| Gross profit growth (YoY) | 4.4% | 22.8% | -9.9% | 0.7% | 8.3% | 47.6% |
| Operating income growth (YoY) | 9.8% | 26.8% | -160.1% | -101.9% | - | - |
| Net income growth (YoY) | 19.2% | 18.6% | -123.7% | -58.6% | - | - |
| EPS growth (YoY) | 21.8% | 20.0% | -121.6% | -57.1% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -9.3% | 31.1% | - | -83.9% | -30.4% | 421.7% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -5.5% | -0.6% | -17.8% | 7.5% | -13.9% | 118.8% |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.45
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing NovoCure Ltd against the 5 most active filers in the same SIC group.