Novocure Net Tangible Assets vs Net Working Capital Analysis

NVCR Stock

USD 11.13 0.38 3.30%

Novocure financial indicator trend analysis is infinitely more than just investigating Novocure recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Novocure is a good investment. Please check the relationship between Novocure Net Tangible Assets and its Net Working Capital accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novocure. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

To learn how to invest in Novocure Stock, please use our How to Invest in Novocure guide.

Net Tangible Assets vs Net Working Capital

Net Tangible Assets vs Net Working Capital Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Novocure Net Tangible Assets account and Net Working Capital. At this time, the significance of the direction appears to have very strong relationship.

The correlation between Novocure's Net Tangible Assets and Net Working Capital is 0.81. Overlapping area represents the amount of variation of Net Tangible Assets that can explain the historical movement of Net Working Capital in the same time period over historical financial statements of Novocure, assuming nothing else is changed. The correlation between historical values of Novocure's Net Tangible Assets and Net Working Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Tangible Assets of Novocure are associated (or correlated) with its Net Working Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Working Capital has no effect on the direction of Net Tangible Assets i.e., Novocure's Net Tangible Assets and Net Working Capital go up and down completely randomly.

Correlation Coefficient

0.81

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Net Tangible Assets

The total assets of a company minus any intangible assets such as patents, copyrights, and goodwill; it represents the physical assets of a company.

Net Working Capital

Most indicators from Novocure's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Novocure current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novocure. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

To learn how to invest in Novocure Stock, please use our How to Invest in Novocure guide.At this time, Novocure's Tax Provision is relatively stable compared to the past year. As of 08/08/2025, Issuance Of Capital Stock is likely to grow to about 4.2 M, while Selling General Administrative is likely to drop slightly above 97.7 M.

	2022	2023	2024	2025 (projected)
Interest Expense	3.3M	4.9M	11.7M	8.7M
Depreciation And Amortization	10.6M	11.0M	11.2M	8.2M

Interest Expense Depreciation And Amortization

Novocure fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Long Term Debt	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Short Term Investments	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross
Total Assets		0.98	0.32	0.55	0.92	0.61	0.96	0.8	0.89	-0.8	0.89	0.48	0.83	0.93	0.94	0.83	1.0	0.92	0.7	0.94	0.84	0.81	0.33	0.95	0.93	0.7
Short Long Term Debt Total	0.98		0.33	0.56	0.84	0.59	0.89	0.81	0.92	-0.84	0.89	0.36	0.83	0.92	0.93	0.82	0.97	0.92	0.74	0.93	0.83	0.86	0.2	0.96	0.93	0.72
Other Current Liab	0.32	0.33		0.75	0.18	0.23	0.32	0.69	0.5	-0.66	0.56	0.22	0.68	0.55	0.47	-0.04	0.3	0.19	0.36	0.43	-0.02	0.48	0.38	0.48	0.52	0.8
Total Current Liabilities	0.55	0.56	0.75		0.4	0.28	0.5	0.89	0.78	-0.8	0.81	0.16	0.88	0.76	0.72	0.07	0.53	0.48	0.43	0.71	0.1	0.51	0.12	0.62	0.77	0.9
Total Stockholder Equity	0.92	0.84	0.18	0.4		0.57	0.96	0.65	0.75	-0.59	0.76	0.57	0.68	0.82	0.85	0.8	0.94	0.84	0.55	0.87	0.81	0.62	0.51	0.8	0.81	0.52
Other Liab	0.61	0.59	0.23	0.28	0.57		0.52	0.42	0.54	-0.61	0.5	0.38	0.44	0.6	0.65	0.58	0.58	0.74	0.76	0.55	0.6	0.71	0.45	0.67	0.59	0.35
Net Tangible Assets	0.96	0.89	0.32	0.5	0.96	0.52		0.73	0.78	-0.67	0.8	0.57	0.75	0.85	0.86	0.74	0.96	0.83	0.56	0.87	0.75	0.68	0.47	0.87	0.83	0.63
Property Plant And Equipment Net	0.8	0.81	0.69	0.89	0.65	0.42	0.73		0.94	-0.94	0.98	0.33	1.0	0.94	0.91	0.47	0.79	0.72	0.63	0.9	0.5	0.75	0.15	0.85	0.95	0.98
Net Debt	0.89	0.92	0.5	0.78	0.75	0.54	0.78	0.94		-0.92	0.97	0.24	0.95	0.96	0.96	0.66	0.88	0.84	0.75	0.98	0.67	0.81	0.19	0.9	0.98	0.87
Retained Earnings	-0.8	-0.84	-0.66	-0.8	-0.59	-0.61	-0.67	-0.94	-0.92		-0.93	-0.22	-0.94	-0.91	-0.89	-0.53	-0.76	-0.78	-0.82	-0.86	-0.55	-0.91	-0.14	-0.92	-0.92	-0.92
Accounts Payable	0.89	0.89	0.56	0.81	0.76	0.5	0.8	0.98	0.97	-0.93		0.39	0.98	0.98	0.97	0.62	0.88	0.82	0.67	0.96	0.65	0.78	0.18	0.9	0.99	0.92
Cash	0.48	0.36	0.22	0.16	0.57	0.38	0.57	0.33	0.24	-0.22	0.39		0.35	0.47	0.46	0.44	0.49	0.39	-0.01	0.36	0.45	0.22	0.35	0.36	0.4	0.27
Non Current Assets Total	0.83	0.83	0.68	0.88	0.68	0.44	0.75	1.0	0.95	-0.94	0.98	0.35		0.96	0.92	0.5	0.81	0.74	0.64	0.92	0.53	0.77	0.17	0.87	0.96	0.97
Non Currrent Assets Other	0.93	0.92	0.55	0.76	0.82	0.6	0.85	0.94	0.96	-0.91	0.98	0.47	0.96		0.99	0.7	0.92	0.87	0.71	0.97	0.72	0.81	0.29	0.92	0.99	0.87
Other Assets	0.94	0.93	0.47	0.72	0.85	0.65	0.86	0.91	0.96	-0.89	0.97	0.46	0.92	0.99		0.73	0.93	0.9	0.72	0.98	0.75	0.8	0.31	0.92	0.99	0.82
Long Term Debt	0.83	0.82	-0.04	0.07	0.8	0.58	0.74	0.47	0.66	-0.53	0.62	0.44	0.5	0.7	0.73		0.84	0.81	0.62	0.73	1.0	0.69	0.23	0.73	0.69	0.35
Cash And Short Term Investments	1.0	0.97	0.3	0.53	0.94	0.58	0.96	0.79	0.88	-0.76	0.88	0.49	0.81	0.92	0.93	0.84		0.9	0.66	0.94	0.85	0.77	0.34	0.93	0.92	0.68
Net Receivables	0.92	0.92	0.19	0.48	0.84	0.74	0.83	0.72	0.84	-0.78	0.82	0.39	0.74	0.87	0.9	0.81	0.9		0.78	0.86	0.82	0.82	0.23	0.91	0.87	0.58
Common Stock Shares Outstanding	0.7	0.74	0.36	0.43	0.55	0.76	0.56	0.63	0.75	-0.82	0.67	-0.01	0.64	0.71	0.72	0.62	0.66	0.78		0.71	0.64	0.9	0.23	0.82	0.72	0.59
Short Term Investments	0.94	0.93	0.43	0.71	0.87	0.55	0.87	0.9	0.98	-0.86	0.96	0.36	0.92	0.97	0.98	0.73	0.94	0.86	0.71		0.74	0.77	0.3	0.9	0.98	0.81
Non Current Liabilities Total	0.84	0.83	-0.02	0.1	0.81	0.6	0.75	0.5	0.67	-0.55	0.65	0.45	0.53	0.72	0.75	1.0	0.85	0.82	0.64	0.74		0.71	0.24	0.75	0.71	0.37
Inventory	0.81	0.86	0.48	0.51	0.62	0.71	0.68	0.75	0.81	-0.91	0.78	0.22	0.77	0.81	0.8	0.69	0.77	0.82	0.9	0.77	0.71		0.2	0.93	0.81	0.73
Other Current Assets	0.33	0.2	0.38	0.12	0.51	0.45	0.47	0.15	0.19	-0.14	0.18	0.35	0.17	0.29	0.31	0.23	0.34	0.23	0.23	0.3	0.24	0.2		0.27	0.24	0.13
Other Stockholder Equity	0.95	0.96	0.48	0.62	0.8	0.67	0.87	0.85	0.9	-0.92	0.9	0.36	0.87	0.92	0.92	0.73	0.93	0.91	0.82	0.9	0.75	0.93	0.27		0.92	0.8
Total Liab	0.93	0.93	0.52	0.77	0.81	0.59	0.83	0.95	0.98	-0.92	0.99	0.4	0.96	0.99	0.99	0.69	0.92	0.87	0.72	0.98	0.71	0.81	0.24	0.92		0.87
Property Plant And Equipment Gross	0.7	0.72	0.8	0.9	0.52	0.35	0.63	0.98	0.87	-0.92	0.92	0.27	0.97	0.87	0.82	0.35	0.68	0.58	0.59	0.81	0.37	0.73	0.13	0.8	0.87

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Novocure Account Relationship Matchups

Novocure fundamental ratios Accounts

	2020	2021	2022	2023	2024	2025 (projected)
Total Assets	1.1B	1.1B	1.2B	1.1B	1.2B	710.5M
Short Long Term Debt Total	444.2M	632.2M	639.1M	596.2M	683.4M	343.1M
Other Current Liab	36.9M	(17.8M)	(18.0M)	59.4M	71.0M	74.5M
Total Current Liabilities	113.6M	142.6M	158.8M	179.1M	756.4M	794.2M
Total Stockholder Equity	476.5M	410.5M	441.2M	362.5M	360.2M	289.4M
Other Liab	11.7M	17.6M	11.2M	7.4M	8.5M	8.8M
Net Tangible Assets	217.8M	476.5M	410.5M	441.2M	507.3M	267.8M
Property Plant And Equipment Net	41.6M	53.9M	69.0M	97.7M	119.6M	125.6M
Net Debt	209.5M	366.4M	468.9M	355.4M	519.6M	545.6M
Retained Earnings	(631.1M)	(685.9M)	(778.5M)	(985.5M)	(1.2B)	(1.1B)
Accounts Payable	53.6M	72.6M	85.2M	94.4M	105.1M	110.3M
Cash	234.7M	208.8M	115.3M	240.8M	163.8M	166.2M
Non Current Assets Total	52.5M	66.0M	80.1M	111.7M	134.2M	140.9M
Non Currrent Assets Other	10.9M	12.1M	11.2M	14.0M	14.6M	15.3M
Other Assets	4.9M	10.9M	12.1M	11.2M	12.8M	13.5M
Long Term Debt	429.9M	562.2M	565.5M	568.8M	97.3M	92.4M
Cash And Short Term Investments	842.6M	937.7M	969.4M	910.6M	962.2M	563.3M
Net Receivables	96.7M	110.6M	112.2M	77.1M	98.6M	63.6M
Common Stock Shares Outstanding	108.9M	103.4M	104.7M	106.4M	107.8M	97.4M
Short Term Investments	607.9M	728.9M	854.1M	669.8M	796.1M	835.9M
Liabilities And Stockholders Equity	1.1B	1.1B	1.2B	1.1B	1.2B	710.5M
Non Current Liabilities Total	461.8M	586.4M	591.7M	604.5M	124.2M	118.0M
Inventory	27.4M	24.4M	29.4M	38.2M	35.1M	24.5M
Other Current Assets	32.7M	807K	6.7M	8.5M	9.5M	8.6M
Other Stockholder Equity	1.1B	1.1B	1.2B	1.4B	1.5B	978.9M
Total Liab	575.5M	729.0M	750.5M	783.6M	880.6M	924.6M
Property Plant And Equipment Gross	41.6M	53.9M	69.0M	152.5M	178.0M	186.9M
Total Current Assets	999.4M	1.1B	1.1B	1.0B	1.1B	658.4M
Accumulated Other Comprehensive Income	(3.8M)	(3.2M)	(2.4M)	(5.5M)	(5.5M)	(5.2M)
Short Term Debt	6.5M	70.0M	73.6M	84.7M	566.1M	594.4M
Property Plant Equipment	34.6M	11.4M	53.9M	32.7M	37.6M	22.9M
Retained Earnings Total Equity	(650.9M)	(631.1M)	(685.9M)	(778.5M)	(700.6M)	(735.6M)
Current Deferred Revenue	17.8M	17.8M	18.0M	16.2M	14.2M	13.7M
Long Term Debt Total	149.5M	429.9M	562.2M	565.5M	650.3M	682.9M
Capital Surpluse	871.4M	1.1B	1.1B	1.2B	1.4B	1.0B
Non Current Liabilities Other	31.9M	166K	148K	18K	16.2K	15.4K
Net Invested Capital	906.4M	972.7M	1.0B	931.3M	1.0B	780.0M
Net Working Capital	885.8M	930.9M	952.8M	855.3M	350.2M	657.3M

Pair Trading with Novocure

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Novocure position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Novocure will appreciate offsetting losses from the drop in the long position's value.

Moving together with Novocure Stock

0.79

Cigna Corp

Pair Corr

Moving against Novocure Stock

0.56	VSEE	VSee Health,	Pair Corr
0.55	EW	Edwards Lifesciences Corp	Pair Corr
0.5	LH	Laboratory	Pair Corr
0.45	ECOR	Electrocore LLC Downward Rally	Pair Corr
0.39	VEEV	Veeva Systems Class	Pair Corr

The ability to find closely correlated positions to Novocure could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novocure when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Novocure - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Novocure to buy it.

The correlation of Novocure is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Novocure moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Novocure moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Novocure can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Novocure Stock Analysis

When running Novocure's price analysis, check to measure Novocure's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Novocure is operating at the current time. Most of Novocure's value examination focuses on studying past and present price action to predict the probability of Novocure's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novocure's price. Additionally, you may evaluate how the addition of Novocure to your portfolios can decrease your overall portfolio volatility.

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