NXT vs. NVMI

Last updated Apr 1, 2026

Compare and contrast key facts about Nextracker Inc (NXT) and Nova Ltd (NVMI).

Performance

NXT vs. NVMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nextracker Inc (NXT) and Nova Ltd (NVMI). The values are adjusted to include any dividend payments, if applicable.

NXT vs. NVMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NXT Nextracker Inc	38.39%	138.46%	-22.03%	53.81%
NVMI Nova Ltd	32.25%	66.74%	43.35%	46.93%

Fundamentals

Market Cap NXT : $18.56B NVMI : $14.69B
EPS NXT : $3.89 NVMI : $7.91
PE Ratio NXT : 31.01 NVMI : 54.92
PEG Ratio NXT : 0.01 NVMI : 1.90
PS Ratio NXT : 5.09 NVMI : 16.17
PB Ratio NXT : 8.63 NVMI : 11.14
Total Revenue (TTM) NXT : $3.60B NVMI : $880.58M
Gross Profit (TTM) NXT : $1.17B NVMI : $505.20M
EBITDA (TTM) NXT : $760.61M NVMI : $285.37M

Returns By Period

In the year-to-date period, NXT achieves a 38.39% return, which is significantly higher than NVMI's 32.25% return.

NXT

• 1D: 7.15%
• 1M: 14.70%
• YTD: 38.39%
• 6M: 62.93%
• 1Y: 186.07%
• 3Y*: 49.25%
• 5Y*: —
• 10Y*: —

NVMI

• 1D: 5.09%
• 1M: -1.04%
• YTD: 32.25%
• 6M: 35.86%
• 1Y: 135.60%
• 3Y*: 60.79%
• 5Y*: 35.35%
• 10Y*: 45.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NXT vs. NVMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NXT

NXT Risk / Return Rank: 95
NXT Sharpe Ratio Rank: 97
NXT Sortino Ratio Rank: 95
NXT Omega Ratio Rank: 91
NXT Calmar Ratio Rank: 97
NXT Martin Ratio Rank: 96

NVMI

NVMI Risk / Return Rank: 93
NVMI Sharpe Ratio Rank: 94
NVMI Sortino Ratio Rank: 90
NVMI Omega Ratio Rank: 88
NVMI Calmar Ratio Rank: 96
NVMI Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NXT vs. NVMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nextracker Inc (NXT) and Nova Ltd (NVMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NXT	NVMI	Difference
Sharpe ratio Return per unit of total volatility	3.10	2.49	+0.60
Sortino ratio Return per unit of downside risk	3.41	2.79	+0.63
Omega ratio Gain probability vs. loss probability	1.41	1.36	+0.05
Calmar ratio Return relative to maximum drawdown	7.71	6.17	+1.54
Martin ratio Return relative to average drawdown	17.09	17.09	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXT vs. NVMI - Sharpe Ratio Comparison

The current NXT Sharpe Ratio is 3.10, which is comparable to the NVMI Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of NXT and NVMI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NXT	NVMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.49	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.20	+0.74

Correlation

The correlation between NXT and NVMI is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NXT vs. NVMI - Dividend Comparison

Neither NXT nor NVMI has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NXT vs. NVMI - Drawdown Comparison

The maximum NXT drawdown since its inception was -48.61%, smaller than the maximum NVMI drawdown of -98.22%. Use the drawdown chart below to compare losses from any high point for NXT and NVMI.

Drawdown Indicators

	NXT	NVMI	Difference
Max Drawdown Largest peak-to-trough decline	-48.61%	-98.22%	+49.61%
Max Drawdown (1Y) Largest decline over 1 year	-23.27%	-21.56%	-1.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-52.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.76%	—
Current Drawdown Current decline from peak	-7.57%	-12.73%	+5.16%
Average Drawdown Average peak-to-trough decline	-15.68%	-52.12%	+36.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.50%	7.78%	+2.72%

Volatility

NXT vs. NVMI - Volatility Comparison

Nextracker Inc (NXT) has a higher volatility of 20.01% compared to Nova Ltd (NVMI) at 16.92%. This indicates that NXT's price experiences larger fluctuations and is considered to be riskier than NVMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXT	NVMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.01%	16.92%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	45.14%	37.98%	+7.16%
Volatility (1Y) Calculated over the trailing 1-year period	60.57%	54.75%	+5.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.29%	46.15%	+13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.29%	42.47%	+16.82%

Financials

NXT vs. NVMI - Profitability Comparison

The chart below illustrates the profitability comparison between Nextracker Inc and Nova Ltd over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NXT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nextracker Inc reported a gross profit of 288.13M and revenue of 909.35M. Therefore, the gross margin over that period was 31.7%.

NVMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Nova Ltd reported a gross profit of 128.23M and revenue of 222.62M. Therefore, the gross margin over that period was 57.6%.

NXT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nextracker Inc reported an operating income of 176.11M and revenue of 909.35M, resulting in an operating margin of 19.4%.

NVMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Nova Ltd reported an operating income of 60.73M and revenue of 222.62M, resulting in an operating margin of 27.3%.

NXT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nextracker Inc reported a net income of 131.24M and revenue of 909.35M, resulting in a net margin of 14.4%.

NVMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Nova Ltd reported a net income of 64.69M and revenue of 222.62M, resulting in a net margin of 29.1%.