NVE Corporation (NVEC)
🔔 Watch stock
symbol.quality_heading
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.
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.
symbol.quality_note
NVE of Minnesota builds spintronics chips for pacemakers and factory robots — and lights up eight filters in our in-house stock scanner at once, led by Stan Weinstein stage-2 momentum (data as of July 17, 2026). We read the annual reports (10-K) for fiscal years 2024 through 2026 and the quarterly report (10-Q) as of December 31, 2025: textbook margins, a debt-free balance sheet — but also revenue almost a third below the 2023 record, one customer carrying 37 percent of sales on a contract that expires at the end of 2027, and a dividend that has exceeded earnings for three straight years. Not investment advice — just the math of how long a company can hand out more than it earns.
Read the analysis
Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at NVEC since then.
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Appears in These Scanners
This stock currently matches 9 of our scanner strategies — each hit links to the scanner.
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
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 116.30 $ — 77% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
NeutralKein 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
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.
Analysts & Price Target
The price target sits 32.1% below the current price.
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.
Next Reporting Date
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.63 | -27.20 | 5 | -25.10 | 60.20 | 4 | 4 |
| 2025: Q1 | 0.80 | 2.10 | 7 | 2.60 | 53.50 | 3 | 2 |
| 2025: Q2 | 0.74 | -12.70 | 6 | -10.00 | 58.60 | 5 | 4 |
| 2025: Q3 | 0.68 | -17.80 | 6 | -6.10 | 52.20 | 3 | 3 |
| 2025: Q4 | 0.70 | 11.10 | 6 | 23.00 | 54.40 | 4 | 3 |
| 2026: Q1 | 1.02 | 26.60 | 8 | 5.30 | 64.40 | 5 | 5 |
| 2026: Q2 | 1.32 | 78.40 | 11 | 80.30 | 58.20 | 5 | 1 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($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 |
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.
Assessment: Opportunities & Risks
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.
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).
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.
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 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).
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.
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.
- 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.
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 | 26. Sep 1996 |
| ISIN | US6294452064 |
| Stock Split | 1:5 on 11/22/2002 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Daniel A. Baker Ph.D. | CEO, President & Director | 1958 |
| Daniel Nelson | Accounting Manager & Principal Financial Officer and Controller | 1986 |
| Peter G. Eames Ph.D. | Vice President of Advanced Technology | 1976 |
| 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.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 29. Jul 2026 | Baker Daniel A | President & CEO | Sell | 15,222 | 114.08 | 1,736,526 |
| 28. Jul 2026 | Baker Daniel A | President & CEO | Sell | 3,260 | 117.57 | 383,278 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Sell | 1,518 | 117.56 | 178,456 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 1,061 | 117.55 | 124,721 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 757 | 117.55 | 88,985 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 864 | 117.55 | 101,563 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 1,496 | 117.55 | 175,855 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 853 | 117.55 | 100,270 |
| 27. Jul 2026 | Baker Daniel A | President & CEO | Other | 1,344 | 117.55 | 157,987 |
| 27. Jul 2026 | Wei Xuan Kelly | Director | Other | 538 | 117.38 | 63,150 |
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.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 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.