NVCRNovoCure Limited
Is the business good?
Margins widening. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is NVCR?
NovoCure Limited keeps −22% of every revenue dollar as operating profit, against 0.61% for the median Medical Devices name.
Operating margin · Medical Devices median 0.61% · 12 months to Q2 2026
- Share count, year on year
- +4.0%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 32%
R&D as % of revenue
- Gross margin
- 76%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 6.2% |
| FY2021 | −8.3% |
| FY2022 | −17% |
| FY2023 | −46% |
| FY2024 | −28% |
| FY2025 | −23% |
Details›
- Gross margin12 months to Q2 2026
- 76%
- Operating margin12 months to Q2 2026
- −22%
- Net margin12 months to Q2 2026
- −21%
- Free cash flow margin
- −3.6%
- R&D as % of revenue
- 32%
- Revenue, trailing twelve months
- $699M
- Free cash flow, trailing twelve months
- −$25M
- Net income, trailing twelve months
- −$149M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.