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Novocure Ltd (NVCR) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Novocure Ltd stock $10.65, price $11.81, that is 9.8% below the price, quality 35 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US · Based in Switzerland · ISIN JE00BYSS4X48

NL Novocure Ltd logo Thin data Nov 10, 2026

Novocure Ltd

NVCR · US
Expensive, weak quality

Our calculation puts a fair price 10% below what the stock costs today.

Revenue last quarter +16% vs. a year ago.
Expensive Growth (revenue 5y +5.8 %/yr in USD)
Moderate debt
Insiders sold $948,351 (6M)
Fair value $10.65 · Overvalued
Quality 35/100
Loss-making · -16.8% net margin (TTM)
Negative free cash flow
Trails peers (3/10)
Narrow moat 13/100
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$142.97 $10.03 Fair Value $10.65 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $10.03 – $142.97 · fair‑value band $7.98 – $13.31 · the $11.81 price screens above the $10.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, France, Japan, Greater China, and internationally.

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Its TTFields devices include Optune Gio, Optune Lua, and Optune Pax. The company also has ongoing clinical trials investigating TTFields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer, and ovarian cancer.

NovoCure Limited was incorporated in 2000 and is headquartered in Baar, Switzerland.

Stock analysis

Novocure Ltd (NVCR) currently trades at $11.81, while our estimate is $10.65, 10% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $7.98 (bear) to $13.31 (bull), the price of $11.81 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 35/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Novocure Ltd reported revenue of $655M in FY2025 versus $535M in FY2021, a compound +5.2%/yr. Reported net income was −$136M in FY2025.

Key figures

Market cap $1.6B Small · P/S ratio 2.14 · EPS (TTM) $−1.06 · Net margin −16.8% · Return on equity −35.2% · Return on assets (EBIT) −12.9% (5-year average) · Operating margin −2.1% · Revenue (TTM) $725M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (medium confidence).

What moves the price

The share trades about 41% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 8% fair-value upside, at −10%, NVCR screens richer than that median.

Fair Value

Bear $7.98 Fair Value $10.65 Bull $13.31
Price $11.81 · Downside -9.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 35/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 32
How much profit the company makes from its sales and capital
Quality Growth 46
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 25
Debt, balance sheet and risk of trouble
Investment 96
Does it invest with discipline instead of growing at any price?
Low Volatility 28
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 30
Distance to the 52-week high, does not count
New shares 46
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 9 officers or directors sold shares worth $948,351 and none bought.

  • SaleMichal Nath PuriChief Human Resources Officer3× since Feb 27, 2026: 3,201 shares, avg. $13.45$43,063Nov 2, 2026
  • SaleFrank X LeonardChief Executive Officer3× since Feb 27, 2026: 56,846 shares, avg. $16.18$919,670Jun 4, 2026
  • SaleJeryl L HillemanDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleGabriel LeungDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleDavid HungDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleW Anthony VernonDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleTimothy J ScannellDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleAllyson J OceanDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleKristin StaffordDirector2,945 shares at $15.77$46,443Jun 2, 2026
  • SaleMukund ParavasthuChief Operating Officer2× since Feb 27, 2026: 50,586 shares, avg. $13.72$693,811Mar 5, 2026

Plus 4 more entries from the last 12 months.

Plus 12 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 25/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.8%
Start year 2020 (pandemic). Over 10 years: +34.8% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
6.1% (2020) → −23.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

NVCR screens overvalued: fair value 10% below the price. Compare with Abbott Laboratories, →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 402 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −9.8% · Above median
Profitability
Return on assets −16.9% · Below median
Net margin (12 months) −16.8% · Below median
Operating margin (12 months) −2.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 15.7% · Above median
Balance sheet
Debt / equity 0.57× · Highest 25%

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B 4.56× · Priciest 25%
P/S (12 months) 2.14× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)20 · sector 17
FUTURE (revenue growth)79 · sector 44
PAST (return on equity)0 · sector 0
HEALTH (low debt)71 · sector 97
DIVIDEND (yield)0 · sector 34

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥178.92 ¥202.57 +13% vs NVCR
DexCom, Inc DXCM $79.92 $89.18 +12% vs NVCR
Stryker Corporation SYK $324.29 $358.30 +10% vs NVCR
STERIS plc STE $257.12 $279.53 +9% vs NVCR
Boston Scientific Corporation BSX $44.70 $48.42 +8% vs NVCR
GE HealthCare Technologies Inc GEHC $83.65 $69.92 −16% vs NVCR
Edwards Lifesciences Corporation EW $104.01 $81.94 −21% vs NVCR
Abbott Laboratories, ABT $110.46 $75.28 −32% vs NVCR
Medtronic plc MDT $101.59 $65.61 −35% vs NVCR
Koninklijke Philips N.V PHIA €27.06 €15.23 −44% vs NVCR

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Novocure Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Novocure Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NVCR

Frequently asked questions

Is Novocure Ltd (NVCR) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $10.65 versus a price of $11.81, about 10% lower (overvalued).
What is the fair value of NVCR?
Our estimate for Novocure Ltd is $10.65 (as of Nov 10, 2026), built from audited fundamentals. The current price: $11.81.
What is the quality score of NVCR?
Novocure Ltd has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Novocure Ltd (NVCR)?
Our calculated price target is the estimate of $10.65 (as of Nov 10, 2026). Cautious scenario $7.98, optimistic scenario $13.31. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Novocure Ltd stock forecast for 2026?
Our estimate puts fair value at $10.65, about 10% lower versus a price of $11.81 (overvalued). Cautious scenario $7.98, optimistic scenario $13.31. The calculation is refreshed regularly with new filings.
What is the revenue of Novocure Ltd (NVCR)?
Novocure Ltd reported trailing-twelve-month revenue of about $725M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Novocure Ltd (NVCR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Novocure Ltd it is $10.65 per share (as of Nov 10, 2026), against a price of $11.81.
Is Novocure Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NVCR trades above its calculated fair value: price $11.81, fair value $10.65, a gap of about −10% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NVCR?
No. The price is what the market pays today ($11.81); the fair value is what the company's own numbers justify ($10.65). For Novocure Ltd the two are $1.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is Novocure Ltd worth?
The market values Novocure Ltd at about $1.6B (market capitalisation, as of Nov 10, 2026). Per share that is $11.81; our models calculate a fair value of $10.65 per share.
What do the bullish and bearish scenarios say about NVCR?
Our models span a range for Novocure Ltd: cautious scenario $7.98, base $10.65, optimistic $13.31 per share (as of Nov 10, 2026, price $11.81). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Novocure Ltd (NVCR)?
Balance-sheet figures for Novocure Ltd (as of Nov 10, 2026): return on equity −35.2%, debt of 0.57 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is NVCR from its 52-week high?
Novocure Ltd trades at $11.81, about 41% below its 52-week high of $19.99 and 18% above the low of $10.03 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $10.65 is for.
Which stocks are comparable to Novocure Ltd?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Novocure Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price $11.81, calculated fair value $10.65 (−10%), Quality Score 35/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Novocure Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Novocure Ltd (NVCR)?
The closing price on Nov 10, 2026 was $11.81. Our estimate is $10.65, about 10% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Novocure Ltd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Novocure Ltd

How large is the market capitalisation of Novocure Ltd (NVCR)?
The market capitalisation of Novocure Ltd is $1.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Novocure Ltd (NVCR)?
The price-to-sales ratio of Novocure Ltd is 2.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Novocure Ltd (NVCR)?
Earnings per share at Novocure Ltd are $−1.06. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Novocure Ltd (NVCR)?
The net margin of Novocure Ltd is −16.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Novocure Ltd (NVCR)?
The return on equity (ROE) of Novocure Ltd is −35.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Novocure Ltd (NVCR)?
On an EBIT basis the return on assets of Novocure Ltd is −12.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Novocure Ltd (NVCR)?
The operating margin of Novocure Ltd is −2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Novocure Ltd (NVCR)?
Revenue at Novocure Ltd is growing +15.7% versus a year earlier (3y avg +6.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Novocure Ltd (NVCR)?
Earnings per share at Novocure Ltd are growing −6.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Novocure Ltd (NVCR) generate?
The free cash flow of Novocure Ltd is −$75.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Novocure Ltd (NVCR) carry?
The net debt of Novocure Ltd is $187M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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