Novanta Inc (NOVT)
Financial leverage ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 1,388,510 | 1,226,060 | 1,241,210 | 1,227,880 | 865,179 |
| Total stockholders’ equity | US$ in thousands | 745,698 | 673,460 | 577,586 | 521,291 | 476,809 |
| Financial leverage ratio | 1.86 | 1.82 | 2.15 | 2.36 | 1.81 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,388,510K ÷ $745,698K
= 1.86
Novanta Inc's financial leverage ratio has shown some fluctuations over the past five years. The ratio increased from 1.81 in 2020 to 2.36 in 2021, indicating an increase in financial leverage. However, in 2022, the ratio decreased to 2.15 before decreasing further to 1.82 in 2023. This suggests that the company may have reduced its reliance on debt in these years. In 2024, the ratio slightly increased to 1.86, indicating a moderate increase in financial leverage compared to the previous year. Overall, the company's financial leverage ratio has shown variability, but it is important to assess the trend over a longer period to understand the company's leverage strategy in a better context.
Peer comparison
Dec 31, 2024