NVE Corporation

NasdaqCM:NVEC Stock Report

Market Cap: US$444.5m

NVE Past Earnings Performance

Past criteria checks 3/6

NVE has been growing earnings at an average annual rate of 0.9%, while the Semiconductor industry saw earnings growing at 3% annually. Revenues have been declining at an average rate of 0.3% per year. NVE's return on equity is 26.1%, and it has net margins of 57.7%.

Key information

0.90%

Earnings growth rate

0.89%

EPS growth rate

Semiconductor Industry Growth27.66%
Revenue growth rate-0.27%
Return on equity26.09%
Net Margin57.72%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Analysis Article • Jan 25

NVE (NASDAQ:NVEC) Has Announced A Dividend Of $1.00

The board of NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend on the 27th of February, with...
Analysis Article • Dec 24

NVE Corporation's (NASDAQ:NVEC) Share Price Could Signal Some Risk

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 19x, you may...
Seeking Alpha • Oct 16

NVE Corporation: Promising Applications With Spintronics Miniaturization

Summary NVE Corporation’s spintronics deliver ultra-low-power sensors and isolators. This is how they can sustain high margins and a steady dividend. NVE has also focused on CAPEX for its WLCSP capacity. The new WLCSP ADLxxx-20E nanoswitches open several new potential use cases. For example, new revenue verticals could come with medical, IoT, and robotics niches for its WLCSP family line. NVE has an overall diverse portfolio across GMR/TMR sensors, magnetic isolators, and MRAM IP. Its valuation is compelling given its potential revenue growth over time if it sustains its high margins. Thus, I rate NVE stock a viable speculative “Buy”. Read the full article on Seeking Alpha
Analysis Article • Aug 01

Most Shareholders Will Probably Agree With NVE Corporation's (NASDAQ:NVEC) CEO Compensation

Key Insights NVE to hold its Annual General Meeting on 7th of August CEO Daniel Baker's total compensation includes...
Analysis Article • Jul 25

A Look At The Intrinsic Value Of NVE Corporation (NASDAQ:NVEC)

Key Insights The projected fair value for NVE is US$56.36 based on 2 Stage Free Cash Flow to Equity With US$63.74 share...
Analysis Article • May 28

NVE Corporation's (NASDAQ:NVEC) 27% Share Price Surge Not Quite Adding Up

NVE Corporation ( NASDAQ:NVEC ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • May 11

NVE (NASDAQ:NVEC) Is Paying Out A Dividend Of $1.00

NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend of $1.00 per share on the 30th of May. Based...
Analysis Article • Oct 27

NVE (NASDAQ:NVEC) Is Due To Pay A Dividend Of $1.00

NVE Corporation's ( NASDAQ:NVEC ) investors are due to receive a payment of $1.00 per share on 29th of November. This...
Analysis Article • Jul 22

NVE (NASDAQ:NVEC) Has Affirmed Its Dividend Of $1.00

The board of NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend of $1.00 per share on the 30th...
Seeking Alpha • Jan 20

NVE Corporation: Needs To Increase Sales And Production Capacity In 2024

Summary NVE Corporation achieved high marginal growth in Q3 2024 with net margins increasing to 62% and almost zero debt. NVEC is advancing sensor architecture with electric fields, improving computing and memory, and upgrading isolation technology. Despite a drop in revenue, NVEC is attracting new customers, growing its patented technology, and has a fair valuation. Read the full article on Seeking Alpha
Analysis Article • Oct 22

NVE (NASDAQ:NVEC) Is Due To Pay A Dividend Of $1.00

The board of NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend of $1.00 per share on the 30th...
Analysis Article • Jul 23

NVE (NASDAQ:NVEC) Has Announced A Dividend Of $1.00

The board of NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend on the 31st of August, with...
Seeking Alpha • Oct 19

NVE GAAP EPS of $1.26, revenue of $10.7M

NVE press release (NASDAQ:NVEC): Q2 GAAP EPS of $1.26. Revenue of $10.7M (+56.9% Y/Y).  The increase in revenue was due to a 59% increase in product sales and a 5% increase in contract research and development revenue.  Net income for the second quarter of fiscal 2023 increased 67% to $6.09 million
Seeking Alpha • Sep 09

NVE Corp.: Low Growth, But Highly Profitable And Has The Cash To Pay Dividends

Summary NVE Corp. uses spintronic technology to make some of the world's smallest sensors to fit in the tiniest medical or industrial robots. On the other end of the spectrum, its profitability and cash flow metrics are higher than the median for the IT sector. I assess prospects for revenue growth in light of supply chain constraints and low Capex spent as a percentage of sales. I also elaborate on those enticing dividend yields. The stock is a buy in view of the tightening of monetary policy. In my quest to look for companies that are better positioned to navigate through the period of acute tightening of monetary policy period which lies ahead, I came across NVE Corporation (NVEC). As seen in the table below, it has profitability metrics that, in some cases are superior to the median for the IT sector by more than 1000% as well as good free cash flow margins. Profitability and Cash Metrics (www.seekingalpha.com) On the other hand, its Capex to Sales ratio which is the percentage of revenue spent on capital expense is lower than the sector median implying that it may not be investing sufficiently for growth. In this respect, I noted that revenue growth has decelerated in Q1-2023 (which ended in June 2022) to 2.56% compared to 14.6% in the March quarter. Thus, in addition to shedding some light on growth, this thesis also aims to assess the ability of the company at sustaining its profitability. I start by providing some insights as to what differentiates NVEC as a semiconductor play. Spintronics Vs Electronics Most of you will have already been across the word electronics which is all about using the ability of electrons to charge and discharge rapidly in order to transport data in computers. Instead, spintronics, which is also known as magneto electronics uses the spin of the electron and the associated magnetic field it creates to transfer data. Now, the fact that this can be done in solid-state devices makes spintronics perfect for applications like sensors and couplers in robots and the Internet of Things (IoT). The company also manufactures some of the highest quality sensors used in MRI machines and pacemakers. These devices are available in semiconductor format and are more stable (nonvolatile) with respect to charge-based electronics. With so many qualities, it is not surprising to see other companies commercializing related products, with prominent industry plays like Intel (NASDAQ:INTC) and International Business Machines (IBM) collaborating with academia for research purposes. Here, one key factor which explains NVEC's high profitability is that, in addition to selling products, it also performs contract research, a segment that saw a 32% revenue increase in Q1-2023 (Q1) compared to last year. In comparison product sales increased by only 3%, but still accounted for 96.4% of total revenues. The reason for this is just like many other industry peers, the company's operations were impacted by supply chain shortages as from the second quarter of 2021, with gross margins falling to 75% for the June 2021 quarter as shown in the table below. Quarterly revenues (www.seekingalpha.com) There have been signs of improvement as per the management during Q1's earnings call. Noteworthily, gross margins have been increasing steadily and should improve further as the company has been raising prices since the beginning of this year to offset the higher cost of revenues. Continuing on Profitability, Cash, and Growth In order to mitigate against supply chain challenges, inventories have been scaled up to above $5 million as per the table below, or 20% more than at the beginning of 2021. This is the reason the cash position has deteriorated slightly. Balance Sheet - Quarterly figures (www.seekingalpha.com) However, these higher inventories should deliver more cash from operations and therefore more growth in the coming quarters. Here, thanks to its ability to pass on costs to customers, NVEC should see higher gross margins, provided it can control operating expenses. In this respect, most probably due to its smaller size with employees being relatively more multi-skilled, the company appears to have some flexibility in moving them from one department to another. In this way, there was a 26% reduction in R&D expenses as staff dedicated more time to revenue-generating activities in Q1. As a result, operating income margins actually increased to 64.4%. Now, this was also due to the timing of some staff incentive compensation, but, any future employee-related expenses should be offset by the uptrend in gross margins. Another factor that can potentially bring more growth is an associated field of electron spinning research called MRAM (Magnetoresistive Random Access Memories) which can be envisioned as the next-generation memory technology, about 600 times faster than conventional ones. This technology should produce a faster and denser all-in-one single memory chip that can hold the data contained in several conventional ones used today. This is the reason NVEC has licensed it to Motorola (MSI), Cypress, and Honeywell International (HON). However, it faces competition from Everspin Technologies (NASDAQ:MRAM) with a market cap of $135 million and which grew revenues by 24% in the June quarter. Risks and Valuations Here, one of the risks for NVEC as a $232 million market cap company is a large billion dollar semiconductor play acquiring Everspin, or another competitor, thereby constituting a direct competitive threat for NVEC. Moreover, with technology evolving rapidly, there could be more competition from lower-priced sensors in a field where continuous development in PCB (printed circuit board) technology is leading to miniaturization or fewer components per square inch. In response, in addition to quality, NVEC can rely on its rapidly evolving product pipeline which recently saw the introduction of a new Ultra miniature version of TMR (Tunneling Magnetoresistance) sensors which are two times smaller in size than the previous generation. Thus, the aim is to constantly innovate and maintain its niche status as a manufacturer of the smallest sensors to equip the tiniest medical or industrial robots, while keeping competitors at bay. Consequently, the ingredients are present, not only to maintain but also to accelerate sales but, at a trailing price to sales of 8.59x, the growth metric has already been priced in. In this case and in line with the profitability rationale guiding this thesis, NVEC remains undervalued by around 30% when considering the trailing P/E of 15.5x. Adjusting accordingly, I obtain a target of about $61-62 (48.3 x 1.3) based on the current share price of $48.5. Valuation metrics (www.seekingalpha.com)
Analysis Article • Jul 24

NVE's (NASDAQ:NVEC) Dividend Will Be $1.00

The board of NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend of $1.00 per share on the 31st...
Seeking Alpha • Jul 20

NVE declares $1.00 dividend

NVE (NASDAQ:NVEC) declares $1.00/share quarterly dividend, in line with previous. Forward yield 8.23% Payable Aug. 31; for shareholders of record Aug. 1; ex-div July 29. See NVEC Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jun 27

Rare 8% Dividend Yield From Growing, Made-In-America Semiconductor Leader: NVE Corp.

NVE Corp. may be throwing off one of the smartest/safest dividend yields (above 8%) available to income investors in June 2022. The kicker is business prospects are strong, with the company seeing higher demand for its domestic production during the pandemic semiconductor shortages of 2021-22. Perhaps the lowest valuation of the stock in at least 15 years is now open to investors willing to step up to the plate.
Analysis Article • May 08

NVE (NASDAQ:NVEC) Has Affirmed Its Dividend Of US$1.00

NVE Corporation's ( NASDAQ:NVEC ) investors are due to receive a payment of US$1.00 per share on 31st of May. Based on...
Analysis Article • Jan 23

NVE (NASDAQ:NVEC) Will Pay A Dividend Of US$1.00

NVE Corporation ( NASDAQ:NVEC ) has announced that it will pay a dividend of US$1.00 per share on the 28th of February...
Seeking Alpha • Dec 29

NVE Corp.: The Only Practical Spintronics Player In Town - 6% Dividend Yield And Plenty Of Growth Optionality - 125% Upside

NVE Corp. is a high-quality spintronics player focused on the growth markets in industrial robots and medical devices. Trading at only 14x earnings, potential growth is not factored in by Mr. Market. The company pays a large dividend of $4 per share each year, currently giving it a 6% dividend yield.
Analysis Article • Oct 24

NVE (NASDAQ:NVEC) Has Re-Affirmed Its Dividend Of US$1.00

NVE Corporation ( NASDAQ:NVEC ) will pay a dividend of US$1.00 on the 30th of November. This makes the dividend yield...
Seeking Alpha • Oct 17

The Bottom Fishing Club: NVE Corp. - American Made Semiconductors

NVE may be on the cusp of better growth, filling the gap caused by overseas chip shortages (after a decade of stagnation in company sales). Highly profitable, domestic manufacturing of sensors/couplers is ready to expand capacity to meet the needs of customers unable to source products from foreign suppliers. The stock's valuation does not seem to discount any growth in the business during calendar 2022, opening a buy proposition. Technical momentum indicators are signaling a swing into a rising stock quote trend could be next.
Analysis Article • Jul 30

We Discuss Why NVE Corporation's (NASDAQ:NVEC) CEO Will Find It Hard To Get A Pay Rise From Shareholders This Year

The disappointing performance at NVE Corporation ( NASDAQ:NVEC ) will make some shareholders rather disheartened. At...

Revenue & Expenses Breakdown

How NVE makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqCM:NVEC Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 26261523
31 Dec 25261423
30 Sep 25251424
30 Jun 25251523
31 Mar 25261524
31 Dec 24261523
30 Sep 24271623
30 Jun 24281723
31 Mar 24301723
31 Dec 23362223
30 Sep 23362223
30 Jun 23402323
31 Mar 23382323
31 Dec 22321813
30 Sep 22311813
30 Jun 22271513
31 Mar 22271513
31 Dec 21261423
30 Sep 21261423
30 Jun 21241313
31 Mar 21211213
31 Dec 20221213
30 Sep 20221213
30 Jun 20241314
31 Mar 20251514
31 Dec 19251414
30 Sep 19251414
30 Jun 19261414
31 Mar 19261514
31 Dec 18291614
30 Sep 18301614
30 Jun 18291514
31 Mar 18301414
31 Dec 17291314
30 Sep 17291314
30 Jun 17291313
31 Mar 17281313
31 Dec 16281313
30 Sep 16261213
30 Jun 16261223
31 Mar 16281223
31 Dec 15291323
30 Sep 15291423
30 Jun 15301423

Quality Earnings: NVEC has high quality earnings.

Growing Profit Margin: NVEC's current net profit margins (57.7%) are lower than last year (58.2%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: NVEC's earnings have grown by 0.9% per year over the past 5 years.

Accelerating Growth: NVEC's earnings growth over the past year (0.9%) is below its 5-year average (0.9% per year).

Earnings vs Industry: NVEC earnings growth over the past year (0.9%) did not outperform the Semiconductor industry 11%.

Return on Equity

High ROE: NVEC's Return on Equity (26.1%) is considered high.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/13 22:18
End of Day Share Price 2026/05/13 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NVE Corporation is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Steven CrowleyCraig-Hallum Capital Group LLC