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Maker of Tumor Treating Fields devices, a wearable cancer therapy using electric fields to disrupt tumor cell division.
Maker of Tumor Treating Fields devices, a wearable cancer therapy using electric fields to disrupt tumor cell division.
Bills insurers for each month a patient stays on therapy, with the device and support services included, so revenue follows the number of active patients and how long they stay on treatment rather than one-off device sales. Glioblastoma, an aggressive brain cancer, is the long-standing franchise; the 2024 US approval of the lung-cancer version opened a second.
Moat: narrow (IP / patents, regulatory licence). Patented TTFields technology is a unique treatment modality with no direct device competitor.
Headquarters: Root, Switzerland · Founded: 2000 · Employees: 1,605
Size NovoCure (NVCR) is a United States Health Care company (Medical Specialties) with a market value of $1.55B, the 1970th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.28 on 6 Nov 2026.
Performance Over six months the shares fell 25.8%, against +8.0% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 12.9% over the last twelve months (peer median +8.8%); the operating margin is -17.2% (peer median 15.3%).
Valuation It trades at 1.8× enterprise value to sales against a peer median of 3.9× (5th cheapest of 21).
Capital Return on invested capital runs 100.3 points below its cost of capital (9.7% WACC).
Short interest Short interest is 11.0% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $725M | $655M | $605M | $509M | $538M |
| Revenue growth | — | +8% | +19% | -5% | — |
| Gross profit | $559M | $490M | $469M | $382M | $424M |
| EBITDA | -$107M | -$137M | -$156M | -$215M | -$78.3M |
| Net income | -$122M | -$136M | -$169M | -$207M | -$92.5M |
| Free cash flow | -$24.6M | -$75.7M | -$69.2M | -$100M | $9.43M |
| Capital expenditure | $23.9M | $26.6M | $42.9M | $27.1M | $21.4M |
| Total debt | $232M | $248M | $683M | $604M | $590M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| NovoCure NVCR | $1.55B | -26% | +13% | -17% | 1.8× | n/a |
| Bristol Myers Squibb BMY | $127B | +12% | +4% | 33% | 3.2× | -12.9% |
| Merck & MRK | $362B | +33% | +5% | 18% | 5.4× | 4.1% |
| AstraZeneca AZN.L | $291B | +1% | +5% | 23% | 5.1× | 14.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NVCR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.6% | +4.7% | 5th lowest of 21 |
| 6-month return | -25.8% | +8.0% | 4th lowest of 20 |
| Distance from 52-week high | -38.1% | -21.1% | 4th lowest of 21 |
| Revenue growth (TTM) | +12.9% | +8.8% | 10th highest of 21 |
| Operating margin | -17.2% | 15.3% | 3rd lowest of 21 |
| EV / Sales | 1.8× | 3.9× | 5th cheapest of 21 |
| ROIC minus cost of capital | -100.3 pp | +1.5 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NovoCure NVCR | United States | $1.55B | -26% | +13% | -17% | 1.8× | n/a | n/a |
| NIPRO 8086.T | Japan | $1.55B | -9% | +3% | 6% | 1.3× | n/a | n/a |
| Enovis ENOV | United States | $1.57B | +2% | +5% | 3% | 1.3× | 22.3% | -6.0% |
| CONMED CNMD | United States | $1.53B | +40% | +2% | 2% | 1.7× | 32.4% | +9.8% |
| Sinocare 300298.SZ | China | $1.58B | +15% | +7% | 6% | 2.1× | 10.8% | +18.3% |
| Shanghai MicroPort Endovascular MedTech 688016.SS | China | $1.59B | -14% | +16% | 44% | 5.9× | 3.1% | +23.4% |
| Nihon Kohden 6849.T | Japan | $1.63B | +8% | +1% | 7% | 1.0× | -2.1% | +3.3% |
| Vitrolife VITR.ST | Sweden | $1.63B | +14% | -2% | 19% | 4.9× | 22.0% | +22.5% |
| Molbio Diagnostics MOLBIO.NS | India | $1.63B | n/a | +35% | 17% | 11.7× | n/a | n/a |
| Beijing Balance Medical Technology 688198.SS | China | $1.47B | -26% | +10% | 28% | 15.0× | 22.6% | +27.6% |
| Rigaku 268A.T | Japan | $1.66B | -57% | +5% | 15% | 3.2× | 18.8% | +14.5% |
| Suzhou Sepax Technologies 688758.SS | China | $1.45B | +19% | +28% | 40% | 17.2× | 24.7% | +23.6% |
| El.En ELN.MI | Italy | $1.44B | +11% | +3% | 15% | 2.0× | 9.8% | +7.7% |
| ChemoMetec A/S CHEMM.CO | Denmark | $1.69B | +124% | +3% | 49% | 21.4× | 17.9% | +12.7% |
| Ovctek China 300595.SZ | China | $1.42B | -26% | 0% | 28% | 4.2× | 9.9% | +16.5% |
| Nakanishi 7716.T | Japan | $1.42B | +8% | +15% | 19% | 2.2× | 2.2% | +19.7% |
| Sonoscape Medical 300633.SZ | China | $1.42B | -8% | +18% | 4% | 3.6× | n/a | n/a |
| Butterfly Network BFLY | United States | $1.70B | +53% | +39% | -36% | 13.0× | n/a | n/a |
| Cofoe Medical Technology 301087.SZ | China | $1.71B | -5% | +33% | 10% | 2.3× | 12.5% | +7.4% |
| Kestra Medical Technologies KMTS | United States | $1.72B | +37% | +61% | -134% | 14.9× | n/a | n/a |
| Poly Medicure POLYMED.NS | India | $1.73B | -4% | +18% | 17% | 8.2× | n/a | n/a |