NVCR Chart
About

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, France, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua. It also has ongoing clinical trials investigating TTFields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer, and ovarian cancer. NovoCure Limited was incorporated in 2000 and is headquartered in Baar, Switzerland.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Devices Market Cap 1.59B
Enterprise Value 1.08B Income -177.65M Sales 642.27M
Book/sh 3.05 Cash/sh 9.23 Dividend Yield —
Payout 0.00% Employees 1488 IPO —
P/E — Forward P/E -8.89 PEG —
P/S 2.48 P/B 4.66 P/C —
EV/EBITDA -6.78 EV/Sales 1.68 Quick Ratio 1.49
Current Ratio 1.55 Debt/Eq 233.77 LT Debt/Eq —
EPS (ttm) -1.61 EPS next Y -1.60 EPS Growth —
Revenue Growth 7.80% Earnings 2026-02-26 ROA -8.30%
ROE -50.60% ROIC — Gross Margin 75.53%
Oper. Margin -21.54% Profit Margin -27.66% Shs Outstand 111.98M
Shs Float 92.51M Short Float 11.23% Short Ratio 6.84
Short Interest — 52W High 22.30 52W Low 9.82
Beta 0.73 Avg Volume 1.83M Volume 1.30M
Target Price $25.21 Recom Buy Prev Close $11.74
Price $14.21 Change 21.04%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$25.21
Mean price target
2. Current target
$14.21
Latest analyst target
3. DCF / Fair value
$4.09
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.21
Low
$13.50
High
$47.00
Mean
$25.21

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-12 main HC Wainwright & Co. Buy → Buy $47
2026-01-15 reit Wedbush Neutral → Neutral $18
2026-01-13 main HC Wainwright & Co. Buy → Buy $39
2025-10-30 main HC Wainwright & Co. Buy → Buy $42
2025-10-27 main JP Morgan Neutral → Neutral $23
2025-07-25 down Wells Fargo Overweight → Equal-Weight $15
2025-07-08 init Ladenburg Thalmann — → Buy $30
2025-06-27 reit Piper Sandler Overweight → Overweight $34
2025-04-23 main Piper Sandler Overweight → Overweight $34
2025-04-16 main Wedbush Neutral → Neutral $27
2025-04-10 main JP Morgan Neutral → Neutral $28
2025-01-14 reit HC Wainwright & Co. Buy → Buy $38
2024-12-13 main Piper Sandler Overweight → Overweight $42
2024-12-03 main HC Wainwright & Co. Buy → Buy $38
2024-12-02 reit HC Wainwright & Co. Buy → Buy $38
2024-12-02 up Evercore ISI Group In-Line → Outperform $30
2024-11-21 reit HC Wainwright & Co. Buy → Buy $30
2024-10-31 reit HC Wainwright & Co. Buy → Buy $30
2024-10-16 up HC Wainwright & Co. Neutral → Buy $30
2024-10-01 main Evercore ISI Group In-Line → In-Line $18
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 108 1187 — Stock Award(Grant) at price 10.99 per share. BEN ARYE BARAK General Counsel — 2025-12-31 00:00:00 D
1 1 11 — Stock Award(Grant) at price 10.99 per share. PURI MICHAL NATH Officer — 2025-12-31 00:00:00 D
2 1 11 — Stock Award(Grant) at price 10.99 per share. DANZIGER ASAF Director — 2025-12-31 00:00:00 D
3 81550 996859 — Purchase at price 12.22 per share. CORDOVA ASHLEY Chief Executive Officer — 2025-09-05 00:00:00 D
4 20000 231800 — Purchase at price 11.50 - 11.63 per share. BRACKMANN CHRISTOPH Chief Financial Officer — 2025-07-29 00:00:00 D
5 833 12603 — Stock Award(Grant) at price 15.13 per share. LEONARD FRANCIS XAVIER II Officer — 2025-06-30 00:00:00 D
6 833 12603 — Stock Award(Grant) at price 15.13 per share. CORDOVA ASHLEY Chief Executive Officer — 2025-06-30 00:00:00 D
7 769 11635 — Stock Award(Grant) at price 15.13 per share. BEN ARYE BARAK General Counsel — 2025-06-30 00:00:00 D
8 833 12603 — Stock Award(Grant) at price 15.13 per share. PURI MICHAL NATH Officer — 2025-06-30 00:00:00 D
9 833 12603 — Stock Award(Grant) at price 15.13 per share. DANZIGER ASAF Director — 2025-06-30 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-150.57K-167.37K-739.83K-1.09M
TaxRateForCalcs0.210.210.210.27
NormalizedEBITDA-108.87M-176.66M-64.36M-34.35M
TotalUnusualItems-717.00K-797.00K-3.52M-4.03M
TotalUnusualItemsExcludingGoodwill-717.00K-797.00K-3.52M-4.03M
NetIncomeFromContinuingOperationNetMinorityInterest-168.63M-207.04M-92.53M-58.35M
ReconciledDepreciation11.23M10.97M10.62M10.25M
ReconciledCostOfRevenue137.18M128.28M114.87M114.88M
EBITDA-109.58M-177.45M-67.89M-38.38M
EBIT-120.82M-188.42M-78.51M-48.63M
NetInterestIncome40.05M41.93M11.20M-3.71M
InterestExpense10.34M3.32M3.33M3.44M
InterestIncome22.72M19.64M10.96M791.00K
NormalizedIncome-168.06M-206.41M-89.75M-55.41M
NetIncomeFromContinuingAndDiscontinuedOperation-168.63M-207.04M-92.53M-58.35M
TotalExpenses775.72M742.21M627.36M579.36M
TotalOperatingIncomeAsReported-170.50M-232.87M-89.52M-44.33M
DilutedAverageShares107.83M106.39M104.66M103.43M
BasicAverageShares107.83M106.39M104.66M103.43M
DilutedEPS-1.56-1.95-0.88-0.56
BasicEPS-1.56-1.95-0.88-0.56
DilutedNIAvailtoComStockholders-168.63M-207.04M-92.53M-58.35M
NetIncomeCommonStockholders-168.63M-207.04M-92.53M-58.35M
NetIncome-168.63M-207.04M-92.53M-58.35M
NetIncomeIncludingNoncontrollingInterests-168.63M-207.04M-92.53M-58.35M
NetIncomeContinuousOperations-168.63M-207.04M-92.53M-58.35M
TaxProvision37.47M15.30M10.69M6.28M
PretaxIncome-131.16M-191.74M-81.85M-52.08M
OtherIncomeExpense-717.00K-797.00K-3.52M-4.03M
GainOnSaleOfSecurity-717.00K-797.00K-3.52M-4.03M
NetNonOperatingInterestIncomeExpense40.05M41.93M11.20M-3.71M
TotalOtherFinanceCost-27.67M-25.61M-3.57M1.06M
InterestExpenseNonOperating10.34M3.32M3.33M3.44M
InterestIncomeNonOperating22.72M19.64M10.96M791.00K
OperatingIncome-170.50M-232.87M-89.52M-44.33M
OperatingExpense638.53M613.93M512.50M464.49M
ResearchAndDevelopment209.65M223.06M206.09M201.30M
SellingGeneralAndAdministration428.89M390.87M306.41M263.18M
SellingAndMarketingExpense239.06M226.81M173.66M137.06M
GeneralAndAdministrativeExpense189.83M164.06M132.75M126.13M
OtherGandA189.83M164.06M132.75M126.13M
GrossProfit468.04M381.06M422.97M420.15M
CostOfRevenue137.18M128.28M114.87M114.88M
TotalRevenue605.22M509.34M537.84M535.03M
OperatingRevenue605.22M509.34M537.84M535.03M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber108.52M107.08M105.05M103.97M
ShareIssued108.52M107.08M105.05M103.97M
NetDebt491.69M328.00M450.18M353.41M
TotalDebt683.35M604.56M584.27M575.21M
TangibleBookValue360.18M362.50M441.17M410.49M
InvestedCapital1.02B931.32M1.01B972.71M
WorkingCapital350.20M855.29M952.75M930.92M
NetTangibleAssets360.18M362.50M441.17M410.49M
CapitalLeaseObligations27.89M35.74M18.76M13.00M
CommonStockEquity360.18M362.50M441.17M410.49M
TotalCapitalization457.48M931.32M1.01B972.71M
TotalEquityGrossMinorityInterest360.18M362.50M441.17M410.49M
StockholdersEquity360.18M362.50M441.17M410.49M
GainsLossesNotAffectingRetainedEarnings-5.50M-5.47M-2.43M-3.17M
OtherEquityAdjustments-5.50M-5.47M-2.43M-3.17M
RetainedEarnings-1.15B-985.50M-778.46M-685.93M
AdditionalPaidInCapital1.52B1.35B1.22B1.10B
CapitalStock0.000.000.000.00
CommonStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest880.61M783.63M750.48M729.00M
TotalNonCurrentLiabilitiesNetMinorityInterest124.23M604.52M591.70M586.40M
OtherNonCurrentLiabilities18.00K18.00K148.00K166.00K
EmployeeBenefits6.94M8.26M4.40M4.54M
NonCurrentDeferredLiabilities0.002.88M6.48M
NonCurrentDeferredRevenue0.002.88M6.48M
LongTermDebtAndCapitalLeaseObligation117.27M596.24M584.27M575.21M
LongTermCapitalLeaseObligation19.97M27.42M18.76M13.00M
LongTermDebt97.30M568.82M565.51M562.22M
CurrentLiabilities756.38M179.12M158.78M142.60M
CurrentDeferredLiabilities14.22M16.22M18.03M17.76M
CurrentDeferredRevenue14.22M16.22M18.03M17.76M
CurrentDebtAndCapitalLeaseObligation566.08M8.32M
CurrentCapitalLeaseObligation7.92M8.32M
CurrentDebt558.16M
OtherCurrentBorrowings558.16M
PayablesAndAccruedExpenses176.07M154.57M140.75M124.84M
CurrentAccruedExpenses70.98M60.18M55.55M52.24M
Payables105.09M94.39M85.20M72.60M
AccountsPayable105.09M94.39M85.20M72.60M
TotalAssets1.24B1.15B1.19B1.14B
TotalNonCurrentAssets134.21M111.72M80.12M65.97M
OtherNonCurrentAssets14.62M14.02M11.16M12.09M
NetPPE119.59M97.70M68.96M53.88M
AccumulatedDepreciation-58.41M-54.81M-47.64M-42.96M
GrossPPE178.00M152.51M116.60M96.84M
Leases12.13M11.70M9.35M7.08M
OtherProperties84.49M80.71M63.84M54.43M
MachineryFurnitureEquipment46.85M35.41M27.43M24.18M
LandAndImprovements34.53M24.70M15.99M11.15M
Properties0.000.000.000.00
CurrentAssets1.11B1.03B1.11B1.07B
RestrictedCash2.33M1.74M508.00K807.00K
PrepaidAssets7.22M6.78M6.20M4.71M
Inventory35.09M38.15M29.38M24.43M
FinishedGoods23.11M18.09M15.74M14.67M
WorkInProcess7.97M9.80M9.32M8.27M
RawMaterials4.00M10.27M4.31M1.49M
Receivables102.07M77.11M106.03M105.88M
OtherReceivables27.85M15.89M19.76M12.31M
AccountsReceivable74.23M61.22M86.26M93.57M
CashCashEquivalentsAndShortTermInvestments959.87M910.62M969.42M937.70M
OtherShortTermInvestments796.11M669.79M854.10M728.90M
CashAndCashEquivalents163.77M240.82M115.33M208.80M
CashEquivalents151.92M230.87M105.63M205.66M
CashFinancial11.85M9.96M9.70M3.14M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-69.22M-100.43M9.43M58.59M
RepaymentOfDebt-12.91M-10.00K-28.00K-26.00K
IssuanceOfDebt96.92M0.000.000.00
IssuanceOfCapitalStock4.15M4.42M5.22M4.55M
CapitalExpenditure-42.85M-27.09M-21.36M-24.17M
InterestPaidSupplementalData7.71M6.00K41.00K101.00K
IncomeTaxPaidSupplementalData23.46M13.66M5.48M3.11M
EndCashPosition166.09M242.56M115.83M209.61M
BeginningCashPosition242.56M115.83M209.61M246.17M
EffectOfExchangeRateChanges-174.00K131.00K-97.00K-188.00K
ChangesInCash-76.30M126.60M-93.68M-36.38M
FinancingCashFlow90.31M15.79M15.49M25.70M
CashFlowFromContinuingFinancingActivities90.31M15.79M15.49M25.70M
ProceedsFromStockOptionExercised2.16M11.38M10.29M21.18M
NetCommonStockIssuance4.15M4.42M5.22M4.55M
CommonStockIssuance4.15M4.42M5.22M4.55M
NetIssuancePaymentsOfDebt84.01M-10.00K-28.00K-26.00K
NetLongTermDebtIssuance84.01M-10.00K-28.00K-26.00K
LongTermDebtPayments-12.91M-10.00K-28.00K-26.00K
LongTermDebtIssuance96.92M0.000.000.00
InvestingCashFlow-140.24M184.15M-139.96M-144.83M
CashFlowFromContinuingInvestingActivities-140.24M184.15M-139.96M-144.83M
NetInvestmentPurchaseAndSale-97.39M211.24M-118.60M-120.66M
SaleOfInvestment778.00M1.21B1.18B958.00M
PurchaseOfInvestment-875.39M-1.00B-1.30B-1.08B
NetPPEPurchaseAndSale-42.85M-27.09M-21.36M-24.17M
PurchaseOfPPE-42.85M-27.09M-21.36M-24.17M
OperatingCashFlow-26.37M-73.34M30.79M82.76M
CashFlowFromContinuingOperatingActivities-26.37M-73.34M30.79M82.76M
ChangeInWorkingCapital-3.65M29.66M11.80M29.07M
ChangeInOtherCurrentLiabilities-6.36M-9.78M-7.77M-10.98M
ChangeInOtherCurrentAssets7.39M4.07M7.11M4.52M
ChangeInPayablesAndAccruedExpense19.11M14.87M14.26M27.78M
ChangeInInventory2.57M-8.92M-4.34M2.48M
ChangeInReceivables-26.36M29.41M2.55M5.27M
ChangesInAccountReceivables-26.36M29.41M2.55M5.27M
OtherNonCashItems-651.00K-95.00K-2.22M-94.00K
StockBasedCompensation160.03M115.61M106.95M94.90M
AssetImpairmentCharge1.16M493.00K955.00K649.00K
AmortizationOfSecurities-25.64M-23.08M-1.54M3.10M
DepreciationAmortizationDepletion11.23M10.97M10.62M10.25M
DepreciationAndAmortization11.23M10.97M10.62M10.25M
OperatingGainsLosses-227.00K161.00K-3.26M3.23M
NetForeignCurrencyExchangeGainLoss-227.00K161.00K-3.26M3.23M
NetIncomeFromContinuingOperations-168.63M-207.04M-92.53M-58.35M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for NVCR
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