NVCR NovoCure margins

Relative Growth: Rel. Growth: 53

Relative Strength: Rel. Strength: 56

Relative Valuation: Rel. Valuation: 17

Relative Profitability: Rel. Profitability: 34

Gross margin

76.1%

Operating margin

-22.1%

EBITDA margin

-19.7%

Net margin

-21.2%

At present, NovoCure currently has a gross margin of 76.1%, an operating margin of -22.1%, an EBITDA margin of -19.7%, and a net margin of -21.2%; its operating margin is negative at -22.1%, its EBITDA margin is negative at -19.7%, and its net margin is negative at -21.2%. Net margin recorded the largest improvement, gaining by 5.9 percentage points. Gross margin recorded the largest decline, dropping by 0.3 percentage points.

NVCR margin history

Gross, operating, EBITDA and net margin trends

NovoCure's margins averaged 75.81% gross, -30.02% operating, -27.94% EBITDA, and -28.25% net during the last 3 years. Currently all four current margins are above their three-year averages.

NVCR margin expansion

Year-over-year margin changes in percentage points

Compared with the same period last year, operating margin expanded by 5.3 percentage points, EBITDA margin by 5.8 percentage points, and net margin by 5.9 percentage points, while gross margin contracted by 0.3 percentage points.

Gross margin expansion

-0.3pp

Operating margin expansion

5.3pp

EBITDA margin expansion

5.8pp

Net margin expansion

5.9pp

NVCR Gross margin

Over the last 3 years, NovoCure's gross margin averaged 75.81%. Currently, NovoCure's current gross margin is 76.1%, which is 0.3 percentage points above its three-year average. During this period, gross margin reached a high of 77.3% in Dec 2024 and a low of 74.5% in Dec 2025.

NVCR Operating margin

NovoCure recorded an average operating margin of -30.02% across the last 3 years. Currently, the current operating margin for NovoCure is -22.1%, 7.9 percentage points above its three-year average. Looking back over the last 3 years, NovoCure's operating margin reached -22.1% at its highest point in Jun 2026 and -45.7% at its lowest in Dec 2023.

NVCR EBITDA margin

Across the last 3 years, NovoCure's EBITDA margin averaged -27.94%. The current EBITDA margin stands at -19.7%, 8.2 percentage points above its three-year average. EBITDA margin was highest at -19.7% in Jun 2026 and lowest at -43.6% in Dec 2023.

NVCR Net margin

Over the last 3 years, NovoCure had an average net margin of -28.25%. The current net margin of -21.2% is 7.1 percentage points above its three-year average. Looking back over the last 3 years, NovoCure's net margin reached -20.8% at its highest point in Dec 2025 and -40.6% at its lowest in Dec 2023.

NVCR margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 76.1%, NVCR ranks higher than the Healthcare sector and the industry average. In comparison with the Healthcare sector average of 68.3%, NovoCure's gross margin is 11% higher.

NVCR margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is NovoCure's gross margin?

For the period ending Jun 30, 2026, NVCR recorded a gross margin of 76.1%.

What is NovoCure's operating margin?

The current operating margin for NVCR is -22.1% as of Jun 30, 2026.

What is NovoCure's EBITDA margin?

As of Jun 30, 2026, NVCR has an EBITDA margin of -19.7%.

What is NovoCure's net margin?

As of Jun 30, 2026, NVCR has a net margin of -21.2%.

What are the average margins of NVCR?

Over the last 3 years, NovoCure's margins averaged 75.8% gross, -30.0% operating, -27.9% EBITDA, and -28.3% net.

What are the highest historical margins of NVCR?

Within the 5-year period, NVCR recorded its highest margins at 78.7% gross in Sep 2022, -8.3% operating in Dec 2021, -6.4% EBITDA in Mar 2022, and -10.9% net in Mar 2022.

What are the lowest historical margins of NVCR?

Looking back across 5 years, NVCR reached its lowest margins at 74.5% gross in Dec 2025, -45.7% operating in Dec 2023, -43.6% EBITDA in Dec 2023, and -40.6% net in Dec 2023.