• Novanta average net profit margin for 2023 was 8.38%, a 1.7% decline from 2022.
• Novanta average net profit margin for 2022 was 8.24%, a 12.57% increase from 2021.
• Novanta average net profit margin for 2021 was 7.32%, a 5.78% increase from 2020.

Net profit margin can be defined as net Income as a portion of total sales revenue.