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Also traded in: Canada, Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash-to-Debt No Debt
NVDQ's Cash-to-Debt is ranked higher than
95% of the 200 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 2.44 vs. NVDQ: No Debt )
Ranked among companies with meaningful Cash-to-Debt only.
NVDQ' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.72  Med: No Debt Max: No Debt
Current: No Debt
Equity-to-Asset 0.86
NVDQ's Equity-to-Asset is ranked higher than
86% of the 186 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 0.59 vs. NVDQ: 0.86 )
Ranked among companies with meaningful Equity-to-Asset only.
NVDQ' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.16  Med: 0.81 Max: 0.97
Current: 0.86
-0.16
0.97
Piotroski F-Score: 4
Altman Z-Score: 9.24
Beneish M-Score: -2.42
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % -52.21
NVDQ's Operating Margin % is ranked lower than
68% of the 188 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 1.88 vs. NVDQ: -52.21 )
Ranked among companies with meaningful Operating Margin % only.
NVDQ' s Operating Margin % Range Over the Past 10 Years
Min: -556.37  Med: -75 Max: -13.33
Current: -52.21
-556.37
-13.33
Net Margin % -55.05
NVDQ's Net Margin % is ranked lower than
67% of the 188 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -1.64 vs. NVDQ: -55.05 )
Ranked among companies with meaningful Net Margin % only.
NVDQ' s Net Margin % Range Over the Past 10 Years
Min: -507.4  Med: -84.34 Max: -48.31
Current: -55.05
-507.4
-48.31
ROE % -30.75
NVDQ's ROE % is ranked lower than
64% of the 181 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -2.95 vs. NVDQ: -30.75 )
Ranked among companies with meaningful ROE % only.
NVDQ' s ROE % Range Over the Past 10 Years
Min: -522.79  Med: -54.08 Max: -15.03
Current: -30.75
-522.79
-15.03
ROA % -26.38
NVDQ's ROA % is ranked lower than
65% of the 203 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -4.53 vs. NVDQ: -26.38 )
Ranked among companies with meaningful ROA % only.
NVDQ' s ROA % Range Over the Past 10 Years
Min: -95.21  Med: -45.05 Max: -12.4
Current: -26.38
-95.21
-12.4
ROC (Joel Greenblatt) % -115.50
NVDQ's ROC (Joel Greenblatt) % is ranked lower than
62% of the 200 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -6.23 vs. NVDQ: -115.50 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
NVDQ' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1007.85  Med: -343.68 Max: -100.51
Current: -115.5
-1007.85
-100.51
3-Year Revenue Growth Rate 36.70
NVDQ's 3-Year Revenue Growth Rate is ranked higher than
95% of the 129 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 4.20 vs. NVDQ: 36.70 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
NVDQ' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -7.3  Med: 25.3 Max: 143.7
Current: 36.7
-7.3
143.7
3-Year EBITDA Growth Rate 38.60
NVDQ's 3-Year EBITDA Growth Rate is ranked higher than
92% of the 119 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 2.00 vs. NVDQ: 38.60 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NVDQ' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -31.2  Med: 0.2 Max: 68.5
Current: 38.6
-31.2
68.5
3-Year EPS without NRI Growth Rate 39.70
NVDQ's 3-Year EPS without NRI Growth Rate is ranked higher than
92% of the 110 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -1.50 vs. NVDQ: 39.70 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
NVDQ' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -26.9  Med: 4.4 Max: 63
Current: 39.7
-26.9
63
GuruFocus has detected 2 Warning Signs with Novadaq Technologies Inc $NVDQ.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» NVDQ's 10-Y Financials

Financials (Next Earnings Date: 2017-02-28)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

NVDQ Guru Trades in Q1 2016

Steven Cohen 267,400 sh (+86.95%)
Chuck Royce 193,900 sh (+20.51%)
PRIMECAP Management 5,260,582 sh (+5.61%)
Jim Simons Sold Out
Ron Baron 31,500 sh (-17.11%)
» More
Q2 2016

NVDQ Guru Trades in Q2 2016

Ron Baron 45,000 sh (+42.86%)
PRIMECAP Management 5,420,582 sh (+3.04%)
Chuck Royce 193,900 sh (unchged)
Steven Cohen 99,600 sh (-62.75%)
» More
Q3 2016

NVDQ Guru Trades in Q3 2016

Steven Cohen 597,700 sh (+500.10%)
Ron Baron 71,000 sh (+57.78%)
PRIMECAP Management 5,686,349 sh (+4.90%)
Chuck Royce 183,400 sh (-5.42%)
» More
Q4 2016

NVDQ Guru Trades in Q4 2016

Ron Baron 185,600 sh (+161.41%)
John Paulson 500,000 sh (unchged)
Chuck Royce 183,400 sh (unchged)
PRIMECAP Management 5,643,449 sh (-0.75%)
Steven Cohen 194,455 sh (-67.47%)
» More
» Details

Insider Trades

Latest Guru Trades with NVDQ

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Business Description

Industry: Medical Diagnostics & Research » Diagnostics & Research    NAICS: 334510    SIC: 8683
Compare:NYSE:NVTA, NAS:LNTH, NAS:SRDX, NYSE:ENZ, NAS:ONVO, NAS:OXFD, NAS:RDNT, OTCPK:CBIS, NAS:NRCIA, NAS:NTRA, AMEX:SENS, NAS:VIVO, NAS:FLGT, NAS:QTNT, NAS:FLDM, NAS:TTOO, NAS:HSKA, OTCPK:CLIFF, NAS:TRIB, NAS:CTSO » details
Traded in other countries:NDQ.Canada, NQT.Germany,
Novadaq Technologies Inc develops & commercializes medical imaging & therapeutic devices for use in the operating room. Its proprietary imaging platform can be used to visualize blood vessels, nerves & the lymphatic system during surgical procedures.

Novadaq Technologies Inc was incorporated under the Canada Business Corporations Act on April 14, 2000. The Company develops and commercializes medical imaging and therapeutic devices for use in the operating room. It's imaging platform can be used to visualize blood vessels, nerves and the lymphatic system during surgical procedures. The Company's business activities are conducted through one segment, which consists of medical devices. Its product includes, SPY Elite, PINPOINT Endoscopic Fluorescence Imaging, FIREFLY System for Robotic Surgery, LUNA Fluorescence Angiography and CO2 HEART LASER System. The SPY Imaging System provides clinically relevant information that empowers surgeons to make informed critical decisions in the operating room. PINPOINT Endoscopic Fluorescence Imaging System combines all of the fluorescence imaging capabilities of SPY Imaging with the HD visible light imaging capabilities of a traditional endoscopic imaging system. FIREFLY system enables surgeons performing robotic surgery to benefit from fluorescence imaging, with initial use in applications ranging from urology to gynecology. LUNA fluorescence angiography enables clinicians to visually assess tissue perfusion in diabetic foot ulcers and non-healing wounds. The CO2 HEART LASER System consists of: the CO2 HEART LASER mobile console and the CO2 HEART LASER disposable hand pieces. The Company's intellectual property consists of 49 patent families representing 128 granted or allowed patents and 90 pending applications in various stages of review and prosecution.

Guru Investment Theses on Novadaq Technologies Inc

Baron Funds Comments on Novadaq Technologies - Jan 20, 2017

Novadaq Technologies Inc. (NASDAQ:NVDQ) is a medical imaging company. Its tools, which show blood flow (perfusion), have been clinically proven to dramatically improve outcomes in many types of surgeries, including colon resection (where a segment of colon is removed and the ends are re-attached), breast reconstruction (typically in cancer surgeries), and many other general surgeries. Significant clinical trials are underway with leading medical institutions that will assess the ability of Novadaq devices in guiding complex lymph node surgeries related to the spread of cancer. The company also sells human-based tissue replacement (complementary to breast reconstruction, and potentially useful for diabetic foot ulcer treatment). Shares fell in the fourth quarter due to, what in our opinion was, a misunderstanding of the halting of a clinical trial in colon resection. The company halted the trial (which was to be a larger version of a prior successful trial in the space) because its devices have been proven to be so good that the company couldn’t find doctors willing to forego its use on surgeries needed to create a control group cohort. Another issue holding back the shares is a change of business plan to sell capital equipment to customers over three-to-four years versus an upfront payment, which defers revenue and cash flow. Thus, despite recurring revenues growing at 40-50% rates (half the business), equipment sales growth has slowed to single digits. This has caused overall revenue growth to slow to 25% from about 30%-40% growth. We are assessing the situation, but believe the current multiple reflects the change in business dynamics. Also, because of the model change, more of the company’s revenues will be recurring, making Novadaq more attractive to potential acquirers, particularly at its current valuation.





From Baron Discovery Fund's fourth quarter 2016 commentary.



Check out Ron Baron latest stock trades

Top Ranked Articles about Novadaq Technologies Inc

Baron Funds Comments on Novadaq Technologies Guru stock highlight
Novadaq Technologies Inc. (NASDAQ:NVDQ) is a medical imaging company. Its tools, which show blood flow (perfusion), have been clinically proven to dramatically improve outcomes in many types of surgeries, including colon resection (where a segment of colon is removed and the ends are re-attached), breast reconstruction (typically in cancer surgeries), and many other general surgeries. Significant clinical trials are underway with leading medical institutions that will assess the ability of Novadaq devices in guiding complex lymph node surgeries related to the spread of cancer. The company also sells human-based tissue replacement (complementary to breast reconstruction, and potentially useful for diabetic foot ulcer treatment). Shares fell in the fourth quarter due to, what in our opinion was, a misunderstanding of the halting of a clinical trial in colon resection. The company halted the trial (which was to be a larger version of a prior successful trial in the space) because its devices have been proven to be so good that the company couldn’t find doctors willing to forego its use on surgeries needed to Read more...

Ratios

vs
industry
vs
history
PB Ratio 3.17
NVDQ's PB Ratio is ranked higher than
62% of the 209 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 3.65 vs. NVDQ: 3.17 )
Ranked among companies with meaningful PB Ratio only.
NVDQ' s PB Ratio Range Over the Past 10 Years
Min: 0.91  Med: 5.36 Max: 274
Current: 3.17
0.91
274
PS Ratio 5.11
NVDQ's PS Ratio is ranked lower than
59% of the 205 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 3.42 vs. NVDQ: 5.11 )
Ranked among companies with meaningful PS Ratio only.
NVDQ' s PS Ratio Range Over the Past 10 Years
Min: 1.6  Med: 11.92 Max: 141.67
Current: 5.11
1.6
141.67
Current Ratio 6.30
NVDQ's Current Ratio is ranked higher than
84% of the 194 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 2.60 vs. NVDQ: 6.30 )
Ranked among companies with meaningful Current Ratio only.
NVDQ' s Current Ratio Range Over the Past 10 Years
Min: 1  Med: 7.26 Max: 26.52
Current: 6.3
1
26.52
Quick Ratio 5.76
NVDQ's Quick Ratio is ranked higher than
84% of the 194 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 2.21 vs. NVDQ: 5.76 )
Ranked among companies with meaningful Quick Ratio only.
NVDQ' s Quick Ratio Range Over the Past 10 Years
Min: 0.85  Med: 6.75 Max: 26.46
Current: 5.76
0.85
26.46
Days Inventory 170.27
NVDQ's Days Inventory is ranked lower than
78% of the 158 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 88.66 vs. NVDQ: 170.27 )
Ranked among companies with meaningful Days Inventory only.
NVDQ' s Days Inventory Range Over the Past 10 Years
Min: 53.18  Med: 80.4 Max: 170.27
Current: 170.27
53.18
170.27
Days Sales Outstanding 122.68
NVDQ's Days Sales Outstanding is ranked lower than
84% of the 160 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 64.91 vs. NVDQ: 122.68 )
Ranked among companies with meaningful Days Sales Outstanding only.
NVDQ' s Days Sales Outstanding Range Over the Past 10 Years
Min: 37.76  Med: 81.23 Max: 168.34
Current: 122.68
37.76
168.34

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -11.80
NVDQ's 3-Year Average Share Buyback Ratio is ranked lower than
63% of the 120 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -6.20 vs. NVDQ: -11.80 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
NVDQ' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -25.3  Med: -11.8 Max: -4.4
Current: -11.8
-25.3
-4.4

Valuation & Return

vs
industry
vs
history
Price-to-Net-Cash 7.97
NVDQ's Price-to-Net-Cash is ranked higher than
60% of the 93 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 9.06 vs. NVDQ: 7.97 )
Ranked among companies with meaningful Price-to-Net-Cash only.
NVDQ' s Price-to-Net-Cash Range Over the Past 10 Years
Min: 5.37  Med: 8.78 Max: 63.75
Current: 7.97
5.37
63.75
Price-to-Net-Current-Asset-Value 4.37
NVDQ's Price-to-Net-Current-Asset-Value is ranked higher than
78% of the 144 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 7.95 vs. NVDQ: 4.37 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
NVDQ' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 4.01  Med: 7.05 Max: 88.33
Current: 4.37
4.01
88.33
Price-to-Tangible-Book 3.66
NVDQ's Price-to-Tangible-Book is ranked higher than
71% of the 169 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 5.33 vs. NVDQ: 3.66 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
NVDQ' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 2.62  Med: 6.41 Max: 650
Current: 3.66
2.62
650
Price-to-Median-PS-Value 0.43
NVDQ's Price-to-Median-PS-Value is ranked higher than
89% of the 180 Companies
in the Global Diagnostics & Research industry.

( Industry Median: 1.06 vs. NVDQ: 0.43 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
NVDQ' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.17  Med: 1.01 Max: 24.36
Current: 0.43
0.17
24.36
Earnings Yield (Greenblatt) % -13.09
NVDQ's Earnings Yield (Greenblatt) % is ranked lower than
69% of the 226 Companies
in the Global Diagnostics & Research industry.

( Industry Median: -1.50 vs. NVDQ: -13.09 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
NVDQ' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -15.65  Med: 0 Max: 0
Current: -13.09
-15.65
0

More Statistics

Revenue (TTM) (Mil) $80.02
EPS (TTM) $ -0.79
Beta1.16
Short Percentage of Float10.45%
52-Week Range $6.00 - 13.22
Shares Outstanding (Mil)57.44

Analyst Estimate

Dec16 Dec17 Dec18 Dec19
Revenue (Mil $) 80 99 128 155
EPS ($) -0.68 -0.54 -0.15 0.50
EPS without NRI ($) -0.68 -0.54 -0.15 0.50
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)
» More Articles for NVDQ

Headlines

Articles On GuruFocus.com
Baron Funds Comments on Novadaq Technologies Jan 20 2017 
Prem Watsa Increases NYT and Two Others May 15 2013 
Prem Watsa Increases Novadaq Technologies Ownership to 6.6 Pct Feb 14 2013 

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