NovoCure Limited
Description
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, 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.
About
CEO
Mr. Asaf Danziger
Employees
1,453
Instrument type
Common Stock
Sector
Healthcare
Industry
Medical Devices
MIC code
XNGS
Address
Neuhofstrasse 21, Baar, 6340, Switzerland
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Feb 27, 2025 | -0.35 | — | — | — |
| Oct 30, 2024 | -0.33 | -0.28 | 0.05 | -15.15% |
| Jul 25, 2024 | -0.41 | -0.31 | 0.10 | -24.39% |
| May 2, 2024 | -0.42 | -0.36 | 0.06 | -14.29% |
| Feb 22, 2024 | -0.52 | -0.45 | 0.07 | -13.46% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 5 | — | 7 |
| Average estimate | — | -0.39 | — | -1.69 |
| Low estimate | — | -0.45 | — | -2.01 |
| High estimate | — | -0.30 | — | -1.43 |
| Last year EPS | — | -0.36 | — | -1.30 |
[stock_revenue_estimate]
Growth estimates
Current qtr
23.450%
Next qtr. (Mar 2025)
-7.780%
Current year
33.520%
Next year (Dec 2025)
-30.710%
Next 5 years (per annum)
37.365%
Past 5 years (per annum)
94.729%
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 509.34M | 537.84M | 535.03M | 494.37M | 351.32M |
| Cost of revenue | 128.28M | 114.87M | 114.88M | 106.50M | 88.61M |
| Gross profit | 381.06M | 422.97M | 420.15M | 387.87M | 262.71M |
| Operating expense | |||||
| Research & development | 223.06M | 206.09M | 201.30M | 132.01M | 79.00M |
| Selling general and admin | 390.87M | 306.41M | 263.18M | 225.45M | 184.62M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -232.87M | -89.52M | -44.33M | 30.40M | -914,000 |
| Non operating interest income | |||||
| Income | 19.64M | 10.96M | 791,000 | 1.79M | 4.40M |
| Expense | 3.32M | 3.33M | 3.44M | 17.58M | 13.87M |
| Other income expense | -797,000 | -3.52M | -4.03M | 2.65M | -431,000 |
| Pretax income | -191.74M | -81.85M | -52.08M | 18.10M | -8.82M |
| Tax provision | 15.30M | 10.69M | 6.28M | -1.71M | -1.59M |
| Net income | -207.04M | -92.53M | -58.35M | 19.81M | -7.23M |
| Basic EPS | -1.95 | -0.88 | -0.56 | 0.20 | -0.07 |
| Diluted EPS | -1.95 | -0.88 | -0.56 | 0.18 | -0.07 |
| Basic average shares | 106.39M | 104.66M | 103.43M | 100.93M | 97.24M |
| Diluted average shares | 106.39M | 104.66M | 103.43M | 100.93M | 97.24M |
| EBITDA | -176.66M | -64.37M | -34.35M | 42.19M | 13.94M |
| Net income from continuing op. | -207.04M | -92.53M | -58.35M | 19.81M | -7.23M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 1.15B | 1.19B | 1.14B | 1.05B | 479.45M |
| Current assets | |||||
| Cash | 9.96M | 9.70M | 3.14M | 20.34M | 18.38M |
| Cash equivalents | 230.87M | 105.63M | 205.66M | 214.34M | 158.94M |
| Cash and cash equivalents | 240.82M | 115.33M | 208.80M | 234.67M | 177.32M |
| Other short term investments | 669.80M | 854.10M | 728.90M | 607.90M | 148.77M |
| Accounts receivable | 61.22M | 86.26M | 93.57M | 96.70M | 58.86M |
| Other receivables | 15.89M | 19.76M | 12.31M | 17.28M | 26.95M |
| Inventory | 38.15M | 29.38M | 24.43M | 27.42M | 23.70M |
| Prepaid assets | 6.78M | 6.20M | 4.71M | 3.96M | 2.25M |
| Restricted cash | 1.74M | 508,000 | 807,000 | 11.50M | 2.10M |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | 1,000 |
| Non current assets | |||||
| Properties | 80.71M | 63.84M | 54.43M | 48.51M | 39.88M |
| Land and improvements | 24.70M | 15.99M | 11.16M | — | — |
| Machinery furniture equipment | 35.41M | 27.43M | 24.18M | 21.69M | 17.93M |
| Construction in progress | — | — | — | — | — |
| Leases | 11.70M | 9.35M | 7.08M | 6.50M | 4.82M |
| Accumulated depreciation | -54.81M | -47.64M | -42.96M | -35.07M | -28.04M |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 14.02M | 11.16M | 12.09M | 10.91M | 4.90M |
| Total liabilities | 783.63M | 750.48M | 729.00M | 575.46M | 261.66M |
| Current liabilities | |||||
| Accounts payable | 94.39M | 85.20M | 72.60M | 53.65M | 36.93M |
| Accrued expenses | 68.50M | 55.55M | 52.24M | 42.20M | 37.61M |
| Short term debt | — | — | — | — | — |
| Deferred revenue | 16.22M | 18.03M | 17.76M | 17.77M | 11.77M |
| Tax payable | — | — | — | — | 12.01M |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | -1,000 |
| Non current liabilities | |||||
| Long term debt | 596.24M | 584.27M | 575.21M | 444.20M | 163.56M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 18,000 | 148,000 | 166,000 | 337,000 | 182,000 |
| Shareholders equity | |||||
| Common stock | — | — | — | — | — |
| Retained earnings | -985.50M | -778.46M | -685.93M | -631.08M | -650.89M |
| Other shareholders equity | -5.47M | -2.43M | -3.17M | -3.83M | -2.77M |
| Total shareholders equity | 362.50M | 441.17M | 410.49M | 476.53M | 217.79M |
| Additional paid in capital | 1.35B | 1.22B | 1.10B | 1.11B | 871.44M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Net Income | -207.04M | -92.53M | -58.35M | 19.81M | -7.23M | -63.56M | -61.66M | -131.85M | -111.58M | -80.68M | -77.37M |
| Depreciation | 10.97M | 10.62M | 10.25M | 9.15M | 8.46M | 9.01M | 7.68M | 5.65M | 3.15M | 1.96M | 1.22M |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 115.61M | 106.96M | 94.90M | 75.72M | 52.42M | 39.85M | 27.12M | 22.14M | 11.86M | 4.62M | 5.12M |
| Other Non-Cash Items | -23.18M | -3.75M | 3.01M | 3.26M | -2.18M | 1.02M | 252,000 | 155,000 | 1.00M | -19,000 | 11.50M |
| Accounts Receivable | 29.41M | 2.55M | 5.27M | -30.35M | -36.50M | -10.33M | -21.25M | -6.10M | -5.09M | -1.19M | -3.61M |
| Accounts Payable | — | — | — | — | — | 9.50M | -1.15M | 1.60M | 6.96M | -492,000 | 5.70M |
| Other Assets & Liabilities | -14.63M | -5.01M | -3.98M | -4.34M | -8.28M | 8.16M | 1.62M | -11.59M | -9.82M | -792,000 | 1.76M |
| Operating Cash Flow | -88.86M | 18.83M | 51.10M | 73.25M | 6.70M | -6.35M | -47.40M | -119.99M | -103.51M | -76.59M | -55.69M |
| Investing Activities | |||||||||||
| Capital Expenditures | -27.09M | -21.36M | -24.17M | -14.97M | -10.49M | -6.71M | -7.37M | -17.66M | -10.27M | -2.32M | -3.63M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -1.00B | -1.30B | -1.08B | -607.88M | -461.84M | -253.78M | -104.01M | -239.34M | -209.00M | -137.98M | — |
| Sale of Investments | 1.21B | 1.18B | 958.00M | 150.00M | 420.66M | 255.00M | 120.00M | 270.00M | 104.00M | 93.00M | 15.05M |
| Investing Cash Flow | 184.15M | -139.96M | -144.83M | -472.85M | -51.67M | -5.49M | 6.77M | 12.82M | -115.30M | -46.18M | 10.40M |
| Financing Activities | |||||||||||
| Long-Term Debt Issuance | — | — | — | 558.44M | — | 149.15M | 19,000 | 72.89M | 22.89M | 54,000 | 49.63M |
| Long-Term Debt Payments | -10,000 | -28,000 | -26,000 | -150.03M | -31,000 | -100.08M | -76,000 | -70,000 | -63,000 | -63,000 | -58.05M |
| Other Financing Charges | — | — | — | — | — | — | — | 698,000 | — | — | — |
| Financing Cash Flow | 4.41M | 5.20M | 4.52M | 411.78M | 2.44M | 50.90M | 1.48M | 74.13M | 274.95M | -9,000 | 183.32M |
| Other Cash Details | |||||||||||
| End Cash Position | 242.56M | 115.83M | 209.61M | 246.17M | 179.42M | 142.76M | 80.72M | 100.05M | 119.42M | 57.61M | 175.89M |
| Income Tax Paid | 13.67M | 5.48M | 3.11M | — | 11.24M | 20.35M | 10.29M | 9.45M | 1.49M | 282,000 | 689,000 |
| Interest Paid | 6,000 | 41,000 | 101,000 | 5.43M | 13.70M | 13.33M | 10.16M | 6.60M | 1.69M | 25,000 | 7.13M |
| Free Cash Flow | -100.43M | 9.43M | 58.59M | 84.18M | 16.14M | -8.58M | -40.50M | -125.26M | -110.16M | -76.56M | -56.34M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Smallcap World Fund | Sep 30, 2024 | 6,523,572 | 157.74M | 6.03% |
| Fidelity Growth Company Fund | Nov 30, 2024 | 5,285,514 | 127.80M | 4.88% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 3,423,385 | 82.78M | 3.16% |
| Growth Fund of America Inc | Nov 30, 2024 | 3,302,638 | 79.86M | 3.05% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 2,974,536 | 71.92M | 2.75% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 2,712,812 | 65.60M | 2.51% |
| Fidelity Growth Company K6 Fund | Nov 30, 2024 | 1,791,458 | 43.32M | 1.66% |
| Price (T.Rowe) Health Sciences Fund | Sep 30, 2024 | 1,672,332 | 40.44M | 1.55% |
| Fidelity Series Growth Company Fund | Nov 30, 2024 | 1,559,000 | 37.70M | 1.44% |
| American Funds Insurance Ser-Growth Fund | Sep 30, 2024 | 1,498,493 | 36.23M | 1.38% |
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