Novanta Inc (NOVT)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 72,878 | 74,051 | 50,331 | 44,521 | 40,773 |
| Total stockholders’ equity | US$ in thousands | 673,460 | 577,586 | 521,291 | 476,809 | 417,172 |
| ROE | 10.82% | 12.82% | 9.66% | 9.34% | 9.77% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $72,878K ÷ $673,460K
= 10.82%
Novanta Inc's return on equity (ROE) has fluctuated over the past five years, ranging from 9.66% to 12.82%. In 2023, the ROE stood at 10.82%, a slight decrease from the previous year's figure of 12.82%. While the ROE has shown some variability, overall, Novanta Inc has maintained a consistent performance in generating returns for its shareholders relative to its equity base. It is important to delve deeper into the company's financials and operations to understand the factors driving these changes in ROE over the years and to assess the company's efficiency in utilizing its equity to generate profits.
Peer comparison
Dec 31, 2023