ENERSYS vs NOVANTA INC, two Electrical Equipment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
EnerSys makes industrial batteries and stored-energy systems, earning 15.38% on equity at a 7.83% net margin, and trades at a sober 28.7 times earnings. Novanta builds precision photonics, and its earnings are temporarily depressed, so the 113.01 times earnings reflects a squeezed denominator rather than a growth premium. EnerSys earns far more on its capital, 15.38% against 4.1%, and converts 5.62% of price into free cash versus Novanta's 1.06%. The market still pays 4.93 times book for Novanta against 4.36 for EnerSys, close despite the gulf in current returns. EnerSys at $8.3B is larger than Novanta at $6.5B, and the more profitable of the two today.
Comparison updated 2026-07-11.
| Metric | ENS | NOVT |
|---|---|---|
| Price | $205.64 | $156.52 |
| Market cap | $7.7B | $6.4B |
| Sector | Electrical Equipment | Electrical Equipment |
| Stage | Mature | Mature |
| Implied growth (priced in) | +20.0% | — |
| P/E | 26.7 | 112.6 |
| P/B | 4.06 | 4.91 |
| P/S | 2.06 | 6.41 |
| EV/EBITDA | 17.7 | 41.5 |
| Revenue growth | +3.8% | +5.6% |
| Gross margin | 29.4% | 44.1% |
| Operating margin | 12.5% | 10.7% |
| Net margin | 7.8% | 5.3% |
| Return on equity | 15.4% | 4.1% |
| Return on assets | 7.3% | 3.0% |
| Return on invested capital | 11.0% | 4.6% |
| FCF yield | 6.0% | 1.1% |
| Dividend yield | 0.5% | — |
| Debt / equity | 0.58 | 0.18 |
| Current ratio | 2.66 | 3.56 |
| Altman Z (solvency) | 4.62 | 7.25 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.