ASTS
AST SpaceMobile, Inc.
ASTS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NOVT
Novanta Inc.
NOVT has the edge over ASTS overall, supported by lower modeled downside and stronger modeled upside.
ASTS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
ASTS's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
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.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
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's PE is in its fair range at 89x.
ASTS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ASTS's losses to grow, with revenue growing. However, they disagree widely on these estimates.
NOVT Forward outlook
There aren't enough analyst estimates for NOVT to show an outlook.
ASTS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.15 | -$0.91 |
| Q2 2026 | -$2.16 | -$0.27 |
| Q1 2026 | -$1.80 | +$0.19 |
| Q4 2025 | -$1.34 | +$0.61 |
| Q3 2025 | -$1.24 | +$0.88 |
| Q2 2025 | -$1.89 | -$0.64 |
| Q1 2025 | -$1.99 | -$1.01 |
| Q4 2022 | -$0.58 | -$0.21 |
ASTS is still losing money, but far less than before: $2.15 per share over the past year, against $5.76 at its worst in mid-2021.
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 has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
ASTS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $42.3M | +187% |
| Q2 2026 | $31.5M | +2627% |
| Q1 2026 | $14.7M | +1952% |
| Q4 2025 | $54.3M | +2731% |
| Q3 2025 | $14.7M | +1240% |
| Q2 2025 | $1.2M | +28% |
| Q1 2025 | $718K | +44% |
| Q3 2022 | $4.2M | +70% |
ASTS's revenue has grown year over year for 11 quarters in a row: $42M last quarter, up 187% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -415% | +694 points |
| Q2 2026 | -948% | +10744 points |
| Q1 2026 | -1686% | +7083 points |
| Q4 2025 | -175% | +2446 points |
| Q3 2025 | -1109% | +4850 points |
| Q2 2025 | -11692% | -4693 points |
| Q1 2025 | -8769% | +2331 points |
| Q4 2024 | -2621% | N/A |
ASTS's operating margin was −415% last quarter, up 694 points from the same quarter a year ago.
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 has the edge over ASTS on profitability, with a higher operating margin.
ASTS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$464.2M | -$161.4M |
| Q2 2026 | -$694.8M | -$341.1M |
| Q1 2026 | -$309.7M | -$160.7M |
| Q4 2025 | -$330.7M | -$220.3M |
| Q3 2025 | -$302.9M | -$239.1M |
| Q2 2025 | -$353.6M | -$315.3M |
| Q1 2025 | -$149M | -$61.3M |
| Q4 2024 | -$110.5M | -$63.2M |
ASTS has burned cash in almost every quarter: −$1.8B over the past year, against −$916M the year before.
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 has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASTS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.1M shares |
| 1 year | +10% | +27.3M shares |
| 3 years | +235% | +211M shares |
| 5 years | +480% | +248M shares |
| Available history | +944% | +271M shares |
ASTS has the edge over NOVT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
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.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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.
ASTS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 11.9 | Oversold |
ASTS's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
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).
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
NOVT PE vs Technology Sector
| Metric | NOVT | Sector median | Relative |
|---|---|---|---|
| PE | 89x | 28x | 219% above |
| PE % | 55 | 35 | 20 pts above |
NOVT is trading at 89x earnings, a 219% premium to the Technology sector's median of 28x.
ASTS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 23% below |
| 20 week MA | $57.1 | 40% below |
| 50 week MA | $75.5 | 54% below |
| 100 week MA | $57.8 | 40% below |
| 200 week MA | $33.6 | 2.8% above |
ASTS 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.
ASTS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.87 | $13.4 | +36% |
| 2021 | $13.4 | $8.71 | -35% |
| 2022 | $8.71 | $3.97 | -54% |
| 2023 | $3.97 | $6.03 | +52% |
| 2024 | $6.03 | $22.9 | +280% |
| 2025 | $22.9 | $72.0 | +214% |
| 2026 YTD | $72.0 | $34.5 | -52% |
ASTS's yearly returns have swung widely, from +280% in 2024 to −54% in 2022. It's down 52% so far in 2026.
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 the edge over ASTS on returns for 2026, with the stronger performance.