NVCR

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NovoCure Limited

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Key Metrics

Previous Close: $15.92
52-Week Range: $9.82 – $21.45
Market Cap: $1.74B
P/E (TTM): —
EPS (TTM): -1.30
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 5.14
PEG Ratio: —
Return on Equity: -43.22%
Return on Assets: -9.26%
Gross Margin: 76.37%
Operating Margin: -5.75%
Profit Margin: -21.25%
Current Ratio: 2.89
Debt/Equity: 0.69
Total Debt: $233.42M
Free Cash Flow: $22.76M
Revenue Growth: 15.60%
Earnings Growth: —
Enterprise Value: $1.53B

NVCR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$537.84M	$509.34M	$605.22M	$655.35M
Cost of Revenue	$114.87M	$128.28M	$137.18M	$166.88M
Gross Profit	$422.97M	$381.06M	$468.04M	$488.47M
Research & Development	$206.09M	$223.06M	$209.65M	$224.54M
Selling, General & Admin	$306.41M	$390.87M	$428.89M	$417.73M
Operating Expenses	$512.50M	$613.93M	$638.53M	$642.27M
Operating Income	-$89.52M	-$232.87M	-$170.50M	-$153.80M
EBITDA	-$67.89M	-$177.45M	-$109.58M	-$104.56M
Pretax Income	-$81.85M	-$191.74M	-$131.16M	-$136.25M
Income Tax	$10.69M	$15.30M	$37.47M	-$23.00K
Net Income	-$92.53M	-$207.04M	-$168.63M	-$136.23M
Diluted EPS	-0.88	-1.95	-1.56	-1.22
Diluted Shares	104.66M	106.39M	107.83M	111.47M

NVCR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$115.33M	$240.82M	$163.77M	$93.55M
Receivables	$106.03M	$77.11M	$102.07M	$138.45M
Inventory	$29.38M	$38.15M	$35.09M	$41.11M
Current Assets	$1.11B	$1.03B	$1.11B	$646.73M
Total Assets	$1.19B	$1.15B	$1.24B	$804.33M
Current Liabilities	$158.78M	$179.12M	$756.39M	$223.23M
Long-Term Debt	$565.51M	$568.82M	$97.30M	$195.05M
Total Debt	$584.27M	$604.56M	$683.34M	$248.35M
Total Liabilities	$750.48M	$783.63M	$880.61M	$463.86M
Retained Earnings	-$778.46M	-$985.50M	-$1.15B	-$1.29B
Shareholders' Equity	$441.17M	$362.50M	$360.18M	$340.47M
Working Capital	$952.75M	$855.29M	$350.18M	$423.50M
Net Debt	$450.18M	$328.00M	$491.69M	$101.50M

NVCR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$30.79M	-$73.34M	-$26.37M	-$49.03M
Capital Expenditure	-$21.36M	-$27.09M	-$42.85M	-$26.65M
Free Cash Flow	$9.43M	-$100.43M	-$69.22M	-$75.68M
Depreciation & Amortisation	$10.62M	$10.97M	$11.23M	$14.65M
Stock-Based Compensation	$106.95M	$115.61M	$160.03M	$104.83M
Investing Cash Flow	-$139.96M	$184.15M	-$140.24M	$437.28M
Financing Cash Flow	$15.49M	$15.79M	$90.31M	-$451.34M
Net Change in Cash	-$93.68M	$126.60M	-$76.30M	-$63.10M

NVCR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$158.81M	$167.20M	$174.35M	$174.06M	$183.58M
Cost of Revenue	$41.47M	$44.73M	$42.16M	$38.93M	$41.11M
Gross Profit	$117.33M	$122.47M	$132.19M	$135.13M	$142.48M
Research & Development	$55.83M	$54.03M	$60.91M	$58.34M	$51.45M
Selling, General & Admin	$101.02M	$104.47M	$111.68M	$144.21M	$101.59M
Operating Expenses	$156.85M	$158.50M	$172.59M	$202.55M	$153.04M
Operating Income	-$39.52M	-$36.02M	-$40.39M	-$67.42M	-$10.56M
EBITDA	-$36.08M	-$32.36M	-$1.59M	-$63.30M	-$6.25M
Pretax Income	-$34.98M	-$30.02M	-$40.95M	-$69.26M	-$12.45M
Income Tax	$5.16M	$7.25M	-$16.45M	$1.88M	$3.21M
Net Income	-$40.14M	-$37.27M	-$24.50M	-$71.14M	-$15.66M
Diluted EPS	-0.36	-0.33	-0.22	-0.62	-0.13
Diluted Shares	111.57M	111.91M	112.24M	114.15M	116.01M

NVCR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$149.62M	$342.12M	$93.55M	$87.53M	$93.70M
Receivables	$129.05M	$124.73M	$138.45M	$146.40M	$145.82M
Inventory	$40.21M	$39.10M	$41.11M	$43.46M	$42.22M
Current Assets	$1.08B	$1.20B	$646.73M	$631.66M	$638.52M
Total Assets	$1.25B	$1.36B	$804.33M	$787.93M	$795.19M
Current Liabilities	$749.63M	$776.01M	$223.23M	$217.58M	$220.71M
Long-Term Debt	$97.61M	$194.64M	$195.05M	$195.46M	$195.89M
Total Debt	$700.25M	$797.94M	$248.35M	$234.94M	$233.42M
Total Liabilities	$896.43M	$1.02B	$463.86M	$457.21M	$457.10M
Retained Earnings	-$1.23B	-$1.27B	-$1.29B	-$1.36B	-$1.38B
Shareholders' Equity	$349.44M	$341.33M	$340.47M	$330.72M	$338.09M
Working Capital	$333.67M	$423.85M	$423.50M	$414.08M	$417.81M
Net Debt	$507.77M	$413.14M	$101.50M	$107.93M	$102.19M

NVCR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$15.94M	$20.57M	-$18.00M	-$13.52M	$8.13M
Capital Expenditure	-$5.49M	-$5.66M	-$4.90M	-$5.15M	-$6.92M
Free Cash Flow	-$21.42M	$14.92M	-$22.90M	-$18.67M	$1.22M
Depreciation & Amortisation	$3.44M	$3.66M	$4.22M	$4.12M	$4.31M
Stock-Based Compensation	$26.14M	$29.32M	$19.82M	$63.01M	$17.01M
Investing Cash Flow	$35.99M	$71.44M	$336.33M	$7.75M	-$6.38M
Financing Cash Flow	$2.39M	$100.52M	-$559.49M	-$166.00K	$4.55M
Net Change in Cash	$22.44M	$192.53M	-$241.17M	-$5.94M	$6.30M

Market Snapshot

About

NovoCure Limited is a global oncology company developing Tumor Treating Fields (TTFields) therapy, a novel cancer treatment that uses electric fields to disrupt cell division in tumors. The flagship product Optune is FDA-approved for glioblastoma and mesothelioma. NovoCure is conducting clinical trials across multiple solid tumor types including brain, lung, ovarian, and pancreatic cancers.