NVE Corp NVEC

Information TechnologySemiconductors & Semiconductor EquipmentUnited States of America

Last close 77.58 USD on Nov 1, 2026, +35.4% year to date

Quant rating

Quant rating D Rank 355 of 389 in Information Technology

Growth D 365 of 389
Valuation C 157 of 389
Quality C 272 of 389
Revisions D 371 of 389
Momentum D 315 of 389

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 376M
Enterprise value: 352M
52-week range: 57.22 – 135.00
3-year range: 54.12 – 135.00
Dividend yield: 5.16%
Beta (5 years): 1.35
Shares outstanding: 4.8M
Next earnings: –

About the company

NVE Corporation develops and sells devices that use spintronics, which is a nanotechnology that relies on electron spin to acquire, store, and transmit information. The Company manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The Company has also licensed its spintronic magnetoresistive random access memory technology (MRAM). Its parts are primarily used in industrial, scientific, and medical applications, as well as the Industrial Internet of things. The Company's products include sensors, couplers, DC-to-DC Convertors and MRAM products. Its sensor products detect the strength or gradient of magnetic fields and are often used to determine position or speed. Its spintronic couplers combine a giant magnetoresistance (GMR) sensor element and a microscopic coil. MRAM uses spintronics to store data. Its isolated direct current (DC)-to-DC convertors transfer energy between systems without direct electrical connections.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	26.3	25.9	29.8	38.3	27.0	–
Revenue growth	1.8%	−13.2%	−22.1%	41.7%	26.3%	4.3%
EPS (basic, normalized)	–	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	78.7%	83.6%	77.3%	78.9%	76.8%	79.1%
Net margin	57.7%	58.2%	57.5%	59.3%	53.8%	57.3%
ROE	25.2%	23.6%	25.8%	34.5%	21.4%	26.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	23.6
Current ratio	29.05x
Long-term debt (mil)	0
Net debt (mil)	−23.6
Total equity (mil)	58.0
Net debt / equity	−0.41x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	26.3	+1.8%	13.4x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–
2029	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Semiconductors & Semiconductor Equipment

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
NVEC NVE Corp	376M	–	57.7%	6.48x	–	–	–	–
6723 Renesas Electronics Corp	34.0B	1.17x	−3.9%	1.81x	11.2x	10.7x	9.3x	8.2x
AVGO Broadcom Inc	1.56T	0.82x	36.2%	15.62x	28.2x	17.0x	21.9x	13.5x
LSCC Lattice Semiconductor Corporation	13.2B	−0.95x	0.6%	16.20x	43.4x	28.5x	34.0x	21.8x
SITM SiTime Corporation	13.4B	−7.24x	−13.1%	11.56x	39.6x	29.9x	36.0x	24.1x
MXL MaxLinear, Inc.	6.1B	0.95x	−29.2%	11.52x	33.9x	14.8x	25.7x	13.0x
Mean		−1.05x	8.0%	10.53x	31.3x	20.2x	25.4x	16.1x
Median		0.82x	−1.7%	11.54x	33.9x	17.0x	25.7x	13.5x

Technical analysis

1M−29.4%
3M−32.9%
1Y+12.7%
3Y+30.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, NVE Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	26.3	25.9	29.8	38.3	27.0	21.4
Cost of revenue	5.6	4.2	6.8	8.1	6.3	4.1
Gross profit	20.7	21.6	23.0	30.2	20.7	17.2
Selling, general & administrative expenses	1.7	2.0	1.8	2.0	1.5	1.3
Research & development	3.2	3.6	2.7	2.6	2.9	3.2
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	15.9	16.0	18.5	25.6	16.3	12.7
Net interest income (expense)	1.9	1.9	1.9	1.4	1.2	1.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0.1	0	0	0	0
Net income before taxes	17.8	18.0	20.5	27.1	17.5	14.2
Provision for taxes	2.6	3.0	3.3	4.4	3.0	2.5
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	15.2	15.1	17.1	22.7	14.5	11.7
Extraordinary items	–	–	–	–	–	–
Net income	15.2	15.1	17.1	22.7	14.5	11.7
EBIT, normalized	15.9	16.0	18.5	25.6	16.3	12.7
EBITDA, normalized	16.4	16.3	18.8	25.9	16.8	13.3
Basic EPS, normalized	–	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, NVE Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	19.8	21.7	22.2	17.2	31.3	18.1
Receivables	3.4	3.6	3.1	6.5	4.7	2.0
Total inventory	7.1	7.4	7.2	6.4	5.1	3.9
Prepaid expenses	1.9	0.4	0.7	0.7	0.4	0.4
Other current assets	0	0	0	0	0	0
Total current assets	32.2	33.2	33.2	30.8	41.5	24.4
Property, plant & equipment	4.5	2.9	1.3	1.8	1.2	1.0
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	23.7	26.3	30.8	36.1	24.3	47.0
Note receivable	–	–	–	–	–	–
Other long-term assets	0	1.9	1.5	0.6	0.5	0.1
Total assets	60.4	64.3	66.8	69.3	67.5	72.5
Liabilities
Accounts payable	0.3	0.2	0.1	0.3	0.9	0.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	0.9	1.0	0.9	1.6	1.5	0.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	0	0	0	0	0	0
Total current liabilities	1.1	1.2	1.0	1.8	2.5	1.0
Long-term debt	0	0	0	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	1.0	0.8	0.2	0.3	0.4	0.6
Total liabilities	2.1	2.0	1.2	2.2	2.9	1.6
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	19.9	19.8	19.6	19.3	19.3	19.3
Retained earnings (accumulated deficit)	38.3	42.5	46.7	48.9	45.6	50.4
Treasury stock	–	–	–	–	–	–
Other equity	0	−0.1	−0.8	−1.2	−0.3	1.1
Total equity	58.2	62.3	65.6	67.1	64.6	70.9
Total liabilities & shareholders' equity	60.4	64.3	66.8	69.3	67.5	72.5

Cash flow statement in millions of USD, fiscal years

Cash flow statement, NVE Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	15.2	15.1	17.1	22.7	14.5	11.7
Depreciation, depletion & amortization	0.5	0.3	0.3	0.3	0.4	0.5
Deferred taxes	2.1	−0.6	−1.0	0.2	0	−0.1
Non-cash items	−0.1	−0.2	0	0.1	0.1	0
Changes in working capital	−1.0	−0.2	1.8	−4.1	−2.5	1.2
Cash from operations	16.7	14.3	18.2	19.1	12.5	13.4
Investing activities
Capital expenditures	−2.2	−1.3	0	−0.9	−0.5	−0.1
Other investing cash flows	−1.4	3.9	9.6	−7.6	7.5	8.5
Cash from investing	−3.6	2.7	9.6	−8.5	7.0	8.4
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−19.3	−19.3	−19.3	−19.3	−19.3	−19.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	0	0.1	0.1	0	−0.2	−0.1
Cash from financing	−19.3	−19.2	−19.2	−19.3	−19.5	−19.4
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−6.3	−2.2	8.6	−8.8	0	2.4
Free cash flow	14.5	13.1	18.2	18.2	12.0	13.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.