AMD
Advanced Micro Devices, Inc.
AMD has the edge over NOVT overall, supported by stronger fundamentals and stronger modeled upside.
NOVT
Novanta Inc.
NOVT has slightly lower modeled downside risk, despite its lower overall score.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
NOVT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Weak |
NOVT's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
AMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 39x | $585 | — |
| Cheap | 40x | $182 | -69% |
| Fair | 112x | $514 | -12% |
| Current | 127x | $585 | — |
| Expensive | 206x | $947 | +62% |
Historical ranges are pointers, not guarantees.
AMD's PE is in its fair range at 127x. If earnings grow as analysts expect, today's price would be 39x next year's earnings, in its cheap range.
NOVT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 72x | $94.82 | -19% |
| Fair | 86x | $113 | -3.6% |
| Current | 89x | $117 | — |
| Expensive | 106x | $140 | +19% |
Historical ranges are pointers, not guarantees.
NOVT has the edge over AMD in the historical PE scenario, which offers more potential upside but is not a forecast.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
Analysts expect strong earnings and revenue growth for AMD, with profitability improving. However, they disagree widely on these estimates.
NOVT Forward outlook
There aren't enough analyst estimates for NOVT to show an outlook.
AMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.05 | +227% |
| Q3 2026 | $4.60 | +127% |
| Q2 2026 | $3.89 | +122% |
| Q1 2026 | $3.05 | +123% |
| Q4 2025 | $2.65 | +165% |
| Q3 2025 | $2.03 | +81% |
| Q2 2025 | $1.75 | +111% |
| Q1 2025 | $1.37 | +99% |
| Q4 2024 | $1.00 | +89% |
AMD has the edge over NOVT on earnings, with more consistent year-over-year improvement.
NOVT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $1.32 | -9.6% |
| Q2 2026 | $1.57 | -7.1% |
| Q1 2026 | $1.39 | -29% |
| Q4 2025 | $1.47 | -17% |
| Q3 2025 | $1.46 | -12% |
| Q2 2025 | $1.69 | -1.7% |
| Q1 2025 | $1.95 | +1.6% |
| Q4 2024 | $1.77 | -12% |
NOVT's earnings per share have fallen from their peak: $1.32 over the past year, against $2.13 in mid-2023.
AMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.4B | +45% |
| Q2 2026 | $11.5B | +50% |
| Q1 2026 | $10.3B | +38% |
| Q4 2025 | $10.3B | +34% |
| Q3 2025 | $9.2B | +36% |
| Q2 2025 | $7.7B | +32% |
| Q1 2025 | $7.4B | +36% |
| Q4 2024 | $7.7B | +24% |
AMD has the edge over NOVT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +7.4 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 14% | +3.6 points |
| Q4 2025 | 17% | +5.7 points |
| Q3 2025 | 14% | +3.1 points |
| Q2 2025 | -1.7% | -6.4 points |
| Q1 2025 | 11% | +10 points |
| Q4 2024 | 11% | +5.8 points |
AMD has the edge over NOVT on profitability, with a higher operating margin.
NOVT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $305M | +23% |
| Q2 2026 | $265.8M | +10% |
| Q1 2026 | $257.7M | +10% |
| Q4 2025 | $258.3M | +8.5% |
| Q3 2025 | $247.8M | +1.4% |
| Q2 2025 | $241M | +2.2% |
| Q1 2025 | $233.4M | +1.1% |
| Q4 2024 | $238.1M | +13% |
NOVT's revenue has grown year over year for 11 quarters in a row: $305M last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.6% | -4.3 points |
| Q2 2026 | 6.8% | +0.6 points |
| Q1 2026 | 11% | -3.2 points |
| Q4 2025 | 9.6% | -1.6 points |
| Q3 2025 | 8.8% | -4.5 points |
| Q2 2025 | 6.2% | -4.7 points |
| Q1 2025 | 14% | +2.8 points |
| Q4 2024 | 11% | +1 points |
NOVT's operating margin was 4.6% last quarter, down 4.3 points from the same quarter a year ago, near the bottom of its range since 2019.
AMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $554M | -71% |
| Q2 2026 | $1.6B | -9.9% |
| Q1 2026 | $2.6B | +253% |
| Q4 2025 | $2.4B | +118% |
| Q3 2025 | $1.9B | +283% |
| Q2 2025 | $1.7B | +294% |
| Q1 2025 | $727M | +92% |
| Q4 2024 | $1.1B | +351% |
AMD has the edge over NOVT on cash flow, with more consistent year-over-year improvement.
NOVT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $30.4M | +621% |
| Q2 2026 | $57.5M | +392% |
| Q1 2026 | $47.5M | +73% |
| Q4 2025 | $5.1M | -91% |
| Q3 2025 | $4.2M | -78% |
| Q2 2025 | $11.7M | -68% |
| Q1 2025 | $27.4M | +3.7% |
| Q4 2024 | $59.3M | +81% |
NOVT's free cash flow has been positive every quarter for seven years: $140M over the past year, up 37% from the year before.
AMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +2M shares |
| 1 year | +1.2% | +20M shares |
| 3 years | +2% | +32M shares |
| 5 years | +35% | +431M shares |
| Available history | +40% | +473M shares |
AMD has the edge over NOVT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $221M |
| Q4 2025 | — |
| Q3 2025 | $89M |
| Q2 2025 | $478M |
| Q1 2025 | $749M |
| Q4 2024 | $256M |
AMD has spent almost nothing on buybacks in the past year.
NOVT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.8% | +1.5M shares |
| 1 year | +19% | +6.7M shares |
| 3 years | +19% | +6.7M shares |
| 5 years | +19% | +6.9M shares |
| Available history | +20% | +7.2M shares |
NOVT has 43M diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $18.6M |
| Q4 2025 | $19.1M |
| Q3 2025 | $14.1M |
| Q2 2025 | — |
| Q1 2025 | $6.2M |
| Q4 2022 | — |
NOVT spent $38M buying back its own shares over the past year.
AMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2020 | -1.0x | Net Cash |
| Q1 2020 | -0.8x | Net Cash |
| Q4 2019 | -1.2x | Net Cash |
AMD has more cash than debt.
NOVT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.3x | High |
| Q2 2026 | -3.2x | Net Cash |
| Q1 2026 | -1.0x | Net Cash |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.8x | Healthy |
NOVT's net debt is about 4.3 years of its operating earnings (EBITDA), up from 2.3 years a year ago.
AMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.3 | Neutral |
| Stochastic | 41.4 | Neutral |
AMD's weekly RSI is 59 (neutral) and its Stochastic is 41 (neutral).
NOVT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.5 | Neutral |
| Stochastic | 18.1 | Oversold |
NOVT's weekly RSI is 39 (neutral) and its Stochastic is 18 (oversold).
AMD PE vs Technology Sector
| Metric | AMD | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 28x | 357% above |
| PE % | 61 | 35 | 26 pts above |
AMD is trading at 127x earnings, a 357% premium to the Technology sector's median of 28x.
NOVT PE vs Technology Sector
| Metric | NOVT | Sector median | Relative |
|---|---|---|---|
| PE | 89x | 28x | 219% above |
| PE % | 55 | 35 | 20 pts above |
NOVT has the edge over AMD on valuation relative to its sector.
AMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $557.2 | 5.1% above |
| 20 week MA | $525.9 | 11% above |
| 50 week MA | $389.7 | 50% above |
| 100 week MA | $266.9 | 119% above |
| 200 week MA | $199.6 | 193% above |
AMD has the edge over NOVT on trend strength, trading above more of its moving averages.
NOVT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $137.8 | 15% below |
| 20 week MA | $145.1 | 19% below |
| 50 week MA | $138.9 | 15% below |
| 100 week MA | $132.3 | 11% below |
| 200 week MA | $147.5 | 20% below |
NOVT is in a downtrend: it's below all five of its weekly moving averages, and 20% below its 200-week average.
AMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.2 | $91.8 | +99% |
| 2021 | $91.8 | $146.1 | +59% |
| 2022 | $146.1 | $64.5 | -56% |
| 2023 | $64.5 | $147.4 | +128% |
| 2024 | $147.4 | $125.2 | -15% |
| 2025 | $125.2 | $215.0 | +72% |
| 2026 YTD | $215.0 | $585.3 | +172% |
AMD has the edge over NOVT on returns for 2026, with the stronger performance.
NOVT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $89.8 | $120.8 | +34% |
| 2021 | $120.8 | $173.1 | +43% |
| 2022 | $173.1 | $137.9 | -20% |
| 2023 | $137.9 | $168.4 | +22% |
| 2024 | $168.4 | $154.7 | -8.1% |
| 2025 | $154.7 | $122.7 | -21% |
| 2026 YTD | $122.7 | $117.4 | -4.3% |
NOVT has finished lower in three of the last six years. It's down 4.3% so far in 2026.