NOVA LTD.
NVMI · Optical Instruments & Lenses · EDGAR filings ↗
Reference price $536.52 — last insider sale, 2026-06-23 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
A84Semiconductor-metrology maker with elite margins, strong growth, and a cash-rich balance sheet.
Strengths
- Elite margins — operating margin 28.8% (93rd), net margin 29.4% (92nd)
- Strong growth and FCF — revenue +31.0%, net income +41.1%, FCF $217.9M (74th)
- Cash-rich — current ratio 6.28 (87th)
Risks
- AI/WFE-capex cyclicality — per 10-K
- Customer concentration among leading fabs — per 10-K
- Premium valuation — per 10-K
Notable findings
- Customer concentration~80% of revenue from one customer/distributor — 54 In 2025, product sales accounted for approximately 80% of our total revenues, and services accounted for approximately 20%
- Strong balance sheetStrong balance sheet — $1.1B cash & investments
- Insider sellingInsider selling — 11 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$3M, last 6mo) Form 4 ↗
Key metrics
Gross margin
57.4%
Operating margin
28.8%
Net margin
29.4%
Return on equity
19.7%
Return on assets
11.0%
Revenue growth (QoQ)
31.0%
Net-income growth
41.1%
Current ratio
6.3×
Free cash flow
$218M
Tangible book value
$1.2B
Cash & investments
$1.1B
Stock comp / revenue
3.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | Simon Zehava | Sell | 454 | $536.52 |
| 2026-06-23 | Sagiv Sarit | Sell | 454 | $536.52 |
| 2026-06-22 | Simon Zehava | Sell | 366 | $581.20 |
| 2026-06-22 | Sagiv Sarit | Sell | 366 | $581.20 |
| 2026-06-22 | Garty Yaniv | Sell | 366 | $581.20 |
| 2026-06-22 | Oppenhaim Eitan | Sell | 1.3K | $581.20 |
| 2026-06-18 | Cohen Raanan | Grant | 334 | — |
| 2026-06-18 | Sagiv Sarit | Grant | 334 | — |
| 2026-06-18 | COHEN AVI | Grant | 334 | — |
| 2026-06-18 | Simon Zehava | Grant | 334 | — |
| 2026-06-18 | Garty Yaniv | Grant | 334 | — |
| 2026-06-18 | Oppenhaim Eitan | Grant | 1.0K | — |
| 2026-06-01 | Waisman Gabriel | Grant | 3.0K | — |
| 2026-05-26 | Oppenhaim Eitan | Sell | 1.5K | $519.48 |
| 2026-05-18 | Sagiv Sarit | Sell | 426 | $514.49 |
| 2026-05-18 | Simon Zehava | Sell | 426 | $514.49 |
| 2026-05-18 | Garty Yaniv | Sell | 426 | $514.49 |
| 2026-04-02 | Garty Yaniv | Sell | 55 | $425.00 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05570591 ↗ | Subthreshold Nanosecond Laser for Non-resolving Central Serous Chorioretinopathy Central Serous Chorioretinopathy | NA | Recruiting | 2024-12-31 |
| NCT03930264 ↗ | Bioequivalence of Azathioprine Suspension 10 mg/mL (Jayempi) Versus Azathioprine Tablet 50mg (Imurek®) Therapeutic Equivalency | PHASE1 | Completed | 2019-05-24 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (2)
- Applied Materials, Inc.
- Ebara Corp.
Suppliers (0)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-17 | 2025-12-31 | 0001178913-26-000504 ↗ |
| 20-F | 2025-02-20 | 2024-12-31 | 0001178913-25-000572 ↗ |
| 20-F | 2024-02-20 | 2023-12-31 | 0001178913-24-000649 ↗ |
| 20-F | 2023-02-28 | 2022-12-31 | 0001178913-23-000775 ↗ |
| 20-F | 2022-03-01 | 2021-12-31 | 0001178913-22-000869 ↗ |
| 20-F | 2021-03-01 | 2020-12-31 | 0001178913-21-000817 ↗ |
| 20-F | 2020-03-12 | 2019-12-31 | 0001178913-20-000800 ↗ |
| 20-F | 2019-02-28 | 2018-12-31 | 0001178913-19-000711 ↗ |
| 20-F | 2018-02-28 | 2017-12-31 | 0001178913-18-000711 ↗ |
| 20-F | 2017-03-03 | 2016-12-31 | 0001178913-17-000686 ↗ |
| 20-F | 2016-02-29 | 2015-12-31 | 0001178913-16-004563 ↗ |
| 20-F | 2015-02-25 | 2014-12-31 | 0001178913-15-000703 ↗ |