NovoCure Valuation Multiples

NovoCure Overview

About NovoCure

NovoCure Ltd is an oncology company with a propreitary platform technology in United States. Its business involves the development, manufacture and commercialization of Tumor Treating Fields (TTFields) devices, including Optune Gio and Optune Lua, for the treatment of solid tumor cancers. Its pipeline consists of Trident, Lunar-2, Panova-3, Metis and other products and technologies for the treatment of Glioblastoma, Non-smell cell lung cancer and Pancreatic cancer. Geographically, the company derives majority of its revenue from the United States and rest from Germany, Japan and other markets.

Founded

2000

HQ

Employees

1.5K

Website

novocure.com

Sectors

Medical DevicesDeepTechHealthTech

Financials (LTM)

Revenue: $666M

EBITDA: ($28M)

EV

$1B

Valuation Multiples

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NovoCure Financials

NovoCure reported last 12-month revenue of $666M and negative EBITDA of ($28M).

In the same LTM period, NovoCure generated $497M in gross profit, ($28M) in EBITDA losses, and had net loss of ($147M).

NovoCure P&L

In the most recent fiscal year, NovoCure reported revenue of $655M and EBITDA of ($34M).

NovoCure expects next 12-month revenue of XXX and NTM EBITDA of XXX

NovoCure Stock Performance

NovoCure has current market cap of $2B, and enterprise value of $1B.

NovoCure's stock price is $13.51.

NovoCure Valuation Multiples

NovoCure trades at 1.9x EV/Revenue multiple, and (46.1x) EV/EBITDA.

NovoCure Financial Valuation Multiples

As of April 5, 2026, NovoCure has market cap of $2B and EV of $1B.

Equity research analysts estimate NovoCure's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

NovoCure has a P/E ratio of (10.3x).

NovoCure Margins & Growth Rates

NovoCure's revenue in the last 12 month grew by 7%.

NovoCure's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.4M for the same period.

NovoCure's rule of 40 is 5% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

NovoCure's rule of X is 14% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

NovoCure Public Comps

See public comps and valuation multiples for other Medical Devices comps.

NovoCure M&A Activity

NovoCure acquired XXX companies to date.

Last acquisition by NovoCure was on XXXXXXXX, XXXXX. NovoCure acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

NovoCure Investment Activity

NovoCure invested in XXX companies to date.

NovoCure made its latest investment on XXXXXXXX, XXXXX. NovoCure invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).