NVE Corporation
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today bets that the turn from the December 2025 quarter holds, that the Abbott agreement is renewed on schedule before the end of 2027, and that the $43.5 million cushion carries the dividend until then — and pays 30 times earnings without growth for it. Whoever waits checks three things in every quarterly report (10-Q): does product revenue grow without price increases, does the payout gap stay smaller than the maturing bonds, and is there news on the Abbott contract. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
NVE is a margin machine in miniature: 42 employees, a 58 percent net margin, debt-free, zero dilution — quality of a kind rarely found among micro-caps. But the four dollars of dividend, the main anchor for many investors, have not been earned for three fiscal years and are partly paid out of substance; revenue sits almost a third below the 2023 record, more than every third revenue dollar hangs on an Abbott contract that expires December 31, 2027, and at 30 times trailing earnings all of that is already priced with confidence. Whoever invests here buys first-class substance with a built-in bet on a revenue turnaround. Not investment advice.
Profitability & business quality
A 79 percent gross margin, 60 percent operating margin and 58 percent net margin in fiscal 2026 — with an own U.S. wafer fab, 42 employees and a medical-device niche relationship with Abbott extended twelve times since 2006 (10-K FY 2026). Quality at this level is a rarity among micro-caps.
Balance sheet & capital cushion
No bank debt, $58.2 million in equity against $60.4 million in total assets, $43.5 million in cash and securities (March 31, 2026), Altman Z around 33; the share count has been effectively constant for years — zero dilution (data as of July 17, 2026).
Growth
Revenue sits almost a third below the fiscal 2023 record ($38.3 million → $26.3 million); the 1.8 percent increase in FY 2026 came "primarily due to price increases," per the report, and research spending fell 13 percent — two stronger quarters (Q3 +23 percent, Q4 +5 percent) are a start, not proof.
Dividend policy & substance
A payout of $19.3 million a year against $15.1–17.1 million in earnings — three years running; retained earnings melted from $46.7 million to $38.3 million (March 2024 to March 2026), cash from $8.0 million to $1.7 million. The 10-K itself names increased earnings as the precondition for the dividend at this level.
Customer concentration
"Customer A" (Abbott) = 37 percent of fiscal 2026 revenue and 27 percent of receivables; the supply agreement expires December 31, 2027, and the report states plainly: "We cannot predict if these agreements will be renewed" (10-K FY 2026, Note 10 and Item 1A).
Valuation & technicals
A stage-2 trend, 8 scanner hits and plus 52 percent in three months meet a trailing P/E around 30 and a P/S around 20 (data as of July 17, 2026) — the market is paying for quality plus a dividend plus a growth hope built on two quarters; roughly 11 percent of pre-tax income is interest income, not chip business.
Worth Noting
NVEC reached the research list through a momentum run in our in-house stock scanner (8 hits, including Stan Weinstein stage 2; data as of July 17, 2026) — not through Reddit or headlines; the stock has practically no social media presence.
Scanner metrics (P/E, P/S, Piotroski, Altman Z, fundamental grade) use trailing twelve-month figures; they include $1.9 million in interest income and roughly $1.1 million in manufacturing tax credits that the 10-K expects to decrease significantly in fiscal 2027.
Price and valuation figures dated July 17, 2026 (about $94, about $460 million market value); analyses are evergreen, daily prices are not a buy argument. NVE's fiscal year ends March 31 — all quarterly references carry the fiscal-year offset.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at NVEC since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 57.40 $ to 134.20 $ · Last price: 100.60 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Semiconductors
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| NVE Corporation NVEC | 0.6 | 32.7 | 22.6 | 79.3 | – | 1.8 | 60.1 |
| NVIDIA Corporation NVDA | 5,540.3 | 30.4 | 22.4 | 74.7 | 65.6 | 65.5 | 29.1 |
| Broadcom Inc AVGO | 1,652.3 | 55.2 | 33.7 | 75.5 | 49.0 | 23.9 | 1.1 |
| Micron Technology Inc MU | 1,269.8 | 20.7 | 15.8 | 72.6 | 80.4 | 48.9 | 512.0 |
| Advanced Micro Devices Inc AMD | 943.2 | 177.7 | 77.8 | 55.7 | 14.4 | 34.3 | 242.5 |
| Intel Corporation INTC | 546.8 | – | 145.4 | 38.9 | 6.9 | -0.5 | 337.0 |
| Arm Holdings plc ARM | 282.9 | 267.6 | 221.2 | 97.5 | 7.6 | 22.8 | 58.6 |
| Texas Instruments Incorporated TXN | 234.9 | 39.7 | 26.1 | 58.3 | 37.8 | 13.1 | 46.9 |
| Marvell Technology Group Ltd MRVL | 232.5 | 79.7 | 45.0 | 52.2 | 14.5 | 42.1 | 239.9 |
| Median of companies shown | 546.8 | 47.4 | 33.7 | 72.6 | 26.2 | 23.9 | 60.1 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 28 | 17 | 13 | 2.68 | 12 | 93 | 94 |
| 2018 | 30 | 18 | 14 | 2.87 | 15 | 86 | 87 |
| 2019 | 26 | 16 | 15 | 2.99 | 14 | 83 | 84 |
| 2020 | 25 | 16 | 15 | 3.00 | 16 | 78 | 80 |
| 2021 | 21 | 13 | 12 | 2.42 | 13 | 71 | 73 |
| 2022 | 27 | 16 | 15 | 3.00 | 13 | 65 | 67 |
| 2023 | 38 | 26 | 23 | 4.70 | 19 | 67 | 69 |
| 2024 | 30 | 19 | 17 | 3.54 | 18 | 66 | 67 |
| 2025 | 26 | 16 | 15 | 3.11 | 14 | 62 | 64 |
| 2026 | 26 | 16 | 15 | 3.14 | 17 | 58 | 61 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.63 | -27.20 | 5 | -25.10 | 60.20 | 4 | 4 |
| 2025: Q1 | 0.80 | 2.10 | 7 | 2.60 | 53.50 | 3 | 2 |
| 2025: Q2 | 0.74 | -12.70 | 6 | -10.00 | 58.60 | 5 | 4 |
| 2025: Q3 | 0.68 | -17.80 | 6 | -6.10 | 52.20 | 3 | 3 |
| 2025: Q4 | 0.70 | 11.10 | 6 | 23.00 | 54.40 | 4 | 3 |
| 2026: Q1 | 1.02 | 26.60 | 8 | 5.30 | 64.40 | 5 | 5 |
| 2026: Q2 | 1.32 | 78.40 | 11 | 80.30 | 58.20 | 5 | 1 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- Above the 50- & 200-SMA
- High ADR (≥5%)
- Mark Minervini: Trend Criteria — 1 Month
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 15.8% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $15.6M |
|---|---|
| Market cap | $565.0M |
| Free cash flow in year ten | $67.6M |
| Terminal value as a share of market value | 63.0% |
For comparison: over the past five years free cash flow grew by 1.7% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Kein wesentlicher KI-Bezug in den ausgewerteten Filings (4×10-Q + 2×10-K): NVE erzielt keine Umsätze mit KI-Produkten, dokumentiert keinen operativen KI-Einsatz und nennt KI nicht als Geschäftsrisiko. Einzige Erwähnungen sind Marktetiketten im 10-K für das GJ 2026 — die Spintronik-Sensoren und -Koppler adressieren u. a. den Zielmarkt „Artificial Intelligence of Things (AIoT) for factory automation“; das beschreibt Fabrikautomation als Absatzmarkt der Magnetsensorik, nicht eigene KI-Produkte oder -Nutzung. In den 10-K GJ 2025 und allen vier geprüften 10-Q kommt Künstliche Intelligenz überhaupt nicht vor (dokumentierter Negativ-Befund).
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-05-06 · 10-K 2025-05-07 · 10-Q 2026-01-21 · 10-Q 2025-10-22 · 10-Q 2025-07-23 · 10-Q 2025-01-22
Rated on July 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -11.7%
- More than 10% revenue growth is expected for the coming year 10.2%
- Share count grows by less than 3% a year 0.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 56.7%
- Gross margin at 40% or higher and without meaningful erosion 78.7%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 19 m net cash
- Operating cash flow covers the profits of the last three years 2 m
- Return on capital at 15% or higher, or up versus two years ago 26.7%
- Insiders hold at least 10% or are net buyers 1.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -0.8%
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% -1.0%
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT -1.2x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 37.9%
- Return on equity > 15% 26.1%
- ROCE > 15% 26.7%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 8, 2026 | Baker Daniel A | Director | Sell | 19,140 | 101.54 | 1,943,476 |
| Sep 8, 2026 | Baker Daniel A | Director | Sell | 2,000 | 101.00 | 202,000 |
| Aug 27, 2026 | Baker Daniel A | Director | Sell | 2,000 | 110.00 | 220,000 |
| Aug 25, 2026 | Baker Daniel A | Director | Sell | 1,731 | 107.00 | 185,217 |
| Aug 17, 2026 | Baker Daniel A | Director | Sell | 1,500 | 121.50 | 182,250 |
| Aug 12, 2026 | Wei Xuan Kelly | Director | Other | 538 | 123.00 | 66,174 |
| Jul 29, 2026 | Baker Daniel A | President & CEO | Sell | 15,222 | 114.08 | 1,736,526 |
| Jul 28, 2026 | Baker Daniel A | President & CEO | Sell | 3,260 | 117.57 | 383,278 |
| Jul 27, 2026 | Baker Daniel A | President & CEO | Sell | 1,518 | 117.56 | 178,456 |
| Jul 27, 2026 | Baker Daniel A | President & CEO | Other | 1,061 | 117.55 | 124,721 |
The company
About the Company
NVE Corporation entwickelt und verkauft Bauelemente, die Spintronik nutzen, eine Nanotechnologie, die sich auf den Elektronenspin stützt, um Informationen zu erfassen, zu speichern und zu übertragen, in den USA. Das Unternehmen fertigt Spintronik-Produkte, darunter Sensoren und Koppler zur Datenerfassung und -übertragung.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 40
- Headquarters
- Eden Prairie, MN
- Address
- 11409 Valley View Road, 55344 Eden Prairie, United States
- Phone
- 952 829 9217
- Website
- nve.com
- IPO Date
- 09/26/1996
- ISIN
- US6294452064
- Stock Split
- 1:5 on 11/22/2002
- Stock Split
- 1:5 on 12/06/2000
Management
| Name | Title | Birth Year |
|---|---|---|
| Peter G. Eames Ph.D. | CEO, President & Director | 1976 |
| Daniel Nelson | Accounting Manager & Principal Financial Officer and Controller | 1986 |
| John K. Myers | Vice President of New Business Development | 1949 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/10/2026 NVE CORP /NEW/ (NVEC): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Submission of Matters to a Vote of Security Holders SEC ↗
- 07/22/2026 NVE CORP /NEW/ (NVEC): Results of Operations and Financial Condition; Other Events SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.