NasdaqGM:MRAM

Stock Analysis Report

Executive Summary

Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally.


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has Everspin Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MRAM's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.7%

MRAM

-2.8%

US Semiconductor

-1.1%

US Market


1 Year Return

-52.9%

MRAM

35.6%

US Semiconductor

17.9%

US Market

Return vs Industry: MRAM underperformed the US Semiconductor industry which returned 35.6% over the past year.

Return vs Market: MRAM underperformed the US Market which returned 17.9% over the past year.


Shareholder returns

MRAMIndustryMarket
7 Day8.7%-2.8%-1.1%
30 Day-21.4%-0.9%1.4%
90 Day-18.1%10.7%6.9%
1 Year-52.9%-52.9%38.2%35.6%20.3%17.9%
3 Year-59.4%-59.4%90.1%79.8%47.8%38.3%
5 Yearn/a149.4%125.6%71.9%53.0%

Price Volatility Vs. Market

How volatile is Everspin Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Everspin Technologies undervalued compared to its fair value and its price relative to the market?

4x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MRAM's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MRAM's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: MRAM is unprofitable, so we can't compare its PE Ratio to the Semiconductor industry average.

PE vs Market: MRAM is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MRAM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MRAM is overvalued based on its PB Ratio (4x) compared to the US Semiconductor industry average (3.1x).


Next Steps

Future Growth

How is Everspin Technologies forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

92.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MRAM is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: MRAM is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MRAM's is expected to become profitable in the next 3 years.

Revenue vs Market: MRAM's revenue (19.8% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: MRAM's revenue (19.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MRAM's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Everspin Technologies performed over the past 5 years?

-2.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MRAM is currently unprofitable.

Growing Profit Margin: MRAM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MRAM is unprofitable, and losses have increased over the past 5 years at a rate of -2.9% per year.

Accelerating Growth: Unable to compare MRAM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MRAM is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (-28.7%).


Return on Equity

High ROE: MRAM has a negative Return on Equity (-83.44%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Everspin Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: MRAM's short term assets ($28.9M) exceed its short term liabilities ($8.1M).

Long Term Liabilities: MRAM's short term assets ($28.9M) exceed its long term liabilities ($9.0M).


Debt to Equity History and Analysis

Debt Level: MRAM's debt to equity ratio (42.9%) is considered high.

Reducing Debt: Insufficient data to determine if MRAM's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: MRAM has a high level of physical assets or inventory.

Debt Coverage by Assets: MRAM's debt is covered by short term assets (assets are 3.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MRAM has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: MRAM has less than a year of cash runway if free cash flow continues to reduce at historical rates of -8.2% each year


Next Steps

Dividend

What is Everspin Technologies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MRAM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MRAM's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MRAM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MRAM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MRAM's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

Kevin Conley (62yo)

2.4yrs

Tenure

US$1,190,426

Compensation

Mr. Kevin Conley has been the Chief Executive Officer and President of Everspin Technologies, Inc. since September 1, 2017. Mr. Conley served as Senior Vice President at SanDisk LLC from January 2011 to Ju ...


CEO Compensation Analysis

Compensation vs Market: Kevin's total compensation ($USD1.19M) is above average for companies of similar size in the US market ($USD522.48K).

Compensation vs Earnings: Kevin's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Kevin Conley
CEO, President & Director2.4yrsUS$1.19m0.36% $262.7k
Jeffrey Winzeler
Executive Officer0.08yrsUS$630.22k0.086% $62.3k
Matthew Tenorio
Interim CFO & Principal Accounting Officer0.08yrsno data0.021% $15.5k
Norman Armour
Vice President of Operations2.3yrsno data0.021% $15.5k
Sanjeev Aggarwal
Vice President of Technology R&D0yrsno data0.12% $86.5k
Troy Winslow
Vice President of Sales & Marketing0.9yrsno data0.097% $70.3k
Terry Hulett
Vice President of Storage Solutions6.3yrsUS$282.21kno data

1.6yrs

Average Tenure

59yo

Average Age

Experienced Management: MRAM's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Kevin Conley
CEO, President & Director2.4yrsUS$1.19m0.36% $262.7k
Lawrence Finch
Independent Director11.7yrsUS$123.24k1.82% $1.3m
Geoffrey Tate
Independent Director10.5yrsUS$123.24k0.64% $462.9k
Geoffrey Ribar
Independent Director1.2yrsUS$115.92k0.034% $24.7k
Michael Gustafson
Independent Director2.9yrsUS$123.24k0.13% $95.9k
Stephen Socolof
Independent Director11.7yrsUS$123.24k0.017% $12.4k
Peter Hébert
Independent Director11.7yrsUS$123.24k0.051% $37.1k
Ronald Foster
Independent Director3.8yrsUS$138.24k0.057% $41.2k
Darin Billerbeck
Independent Chairman0.9yrsUS$150.19k0.040% $28.8k

3.8yrs

Average Tenure

60yo

Average Age

Experienced Board: MRAM's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MRAM insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12.4%.


Top Shareholders

Company Information

Everspin Technologies, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Everspin Technologies, Inc.
  • Ticker: MRAM
  • Exchange: NasdaqGM
  • Founded: 2008
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$72.370m
  • Shares outstanding: 17.57m
  • Website: https://www.everspin.com

Number of Employees


Location

  • Everspin Technologies, Inc.
  • 5670 West Chandler Boulevard
  • Suite 100
  • Chandler
  • Arizona
  • 85226
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MRAMNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDOct 2016
E5NDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2016
0IJ3LSE (London Stock Exchange)YesCommon StockGBUSDOct 2016

Biography

Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems. The company provides its products for applications, including data center, industrial, automotive, transportation, and enterprise storage markets. It serves customers through a direct sales channel and a network of representatives and distributors. Everspin Technologies, Inc. was incorporated in 2008 and is headquartered in Chandler, Arizona. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 03:01
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.