NVEC

MKT CAP:$401M

NVE Corporation

Market Cap

$401M

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$78.31+$16.86 (+27.44%)

Apr 23, 2026

Company Details

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic product...

CEO

Daniel A. Baker

IPO Date

May 23, 1995

Website

www.nve.com

Key Metrics TTM

Revenue

$26M

+1.0% YoY

Net Income

$14M

EPS (Diluted)

$2.92

Free Cash Flow

$12M

Revenue / Share

$5.36

Gross Margin

79.2%

Operating Margin

59.5%

Net Margin

54.6%

FCF Margin

47.7%

P/S

15.4x

P/E

28.3x

Earnings Reports

Q4 2026

May 6, 2026

PENDING

Q3 2026

Jan 21, 2026

$6M+22.9%EPS $0.70

Q2 2026

Oct 22, 2025

$6M-6.1%EPS $0.68

Q1 2026

Jul 23, 2025

$6M-10.0%EPS $0.74

FY 2025

May 7, 2025

$26M-13.2%EPS $3.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$7M	$5M	$4M
Q1 23	$7M	$6M	$5M
Q2 23	$11M	$8M	$7M
Q3 23	$7M	$6M	$5M
Q4 23	$13M	$10M	$9M
Q1 24	$9M	$7M	$5M
Q2 24	$7M	$6M	$5M
Q3 24	$7M	$5M	$4M
Q4 24	$7M	$5M	$4M
Q1 25	$7M	$6M	$4M
Q2 25	$7M	$6M	$4M
Q3 25	$5M	$4M	$3M
Q4 25	$7M	$6M	$4M
Q1 26	$6M	$5M	$4M
Q2 26	$6M	$5M	$4M
Q3 26	$6M	$5M	$4M

Valuation

Quarter	P/S	P/E
Q4 22	14.8x	27.6x
Q1 23	14.7x	26.6x
Q2 23	12.9x	22.9x
Q3 23	12.5x	21.9x
Q4 23	10.5x	17.7x
Q1 24	10.1x	17.5x
Q2 24	11.1x	18.6x
Q3 24	11.3x	18.6x
Q4 24	13.4x	23.4x
Q1 25	14.4x	23.8x
Q2 25	14.6x	24.9x
Q3 25	15.6x	26.7x
Q4 25	15.5x	26.6x
Q1 26	15.9x	27.6x
Q2 26	16.2x	29.0x
Q3 26	15.4x	28.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$3M	$3M
Q1 23	$3M	$3M
Q2 23	$6M	$6M
Q3 23	$5M	$5M
Q4 23	$4M	$4M
Q1 24	$5M	$5M
Q2 24	$5M	$5M
Q3 24	$5M	$5M
Q4 24	$3M	$3M
Q1 25	$6M	$5M
Q2 25	$2M	$2M
Q3 25	$4M	$4M
Q4 25	$2M	$2M
Q1 26	$5M	$4M
Q2 26	$3M	$3M
Q3 26	$4M	$3M

Capital Expenditures

Quarter	CapEx
Q4 22	$426.3K
Q1 23	$24.5K
Q2 23	$3
Q3 23	$883.1K
Q4 23	$28.2K
Q1 24	$4.1K
Q2 24	$12.6K
Q3 24	$0
Q4 24	$0
Q1 25	$916.6K
Q2 25	$208.8K
Q3 25	$37.4K
Q4 25	$94.3K
Q1 26	$1M
Q2 26	$70.5K
Q3 26	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+14.6%	+11.9%
Q1 23	+2.6%	-13.8%
Q2 23	+57.1%	+28.3%
Q3 23	+17.7%	+14.6%
Q4 23	+90.5%	+48.3%
Q1 24	+20.4%	+31.9%
Q2 24	-33.4%	-28.3%
Q3 24	-8.7%	-11.5%
Q4 24	-44.7%	-22.4%
Q1 25	-23.2%	-30.9%
Q2 25	-5.3%	-6.0%
Q3 25	-25.1%	-8.0%
Q4 25	+2.6%	-0.1%
Q1 26	-10.0%	-3.1%
Q2 26	-6.1%	+13.8%
Q3 26	+22.9%	+18.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$8.8K	0.1%
Q1 23	$7.1K	0.1%
Q2 23	$0	0.0%
Q3 23	$7.1K	0.1%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$106.3K	1.5%
Q3 24	$12.5K	0.2%
Q4 24	$12.5K	0.2%
Q1 25	$18.4K	0.3%
Q2 25	$105.2K	1.6%
Q3 25	$14.3K	0.3%
Q4 25	$14.3K	0.2%
Q1 26	$6.8K	0.1%
Q2 26	$66.3K	1.0%
Q3 26	$10.3K	0.2%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 22	$247.4K	$813.2K
Q1 23	$601.9K	$371.3K
Q2 23	$670.0K	$435.6K
Q3 23	$700.6K	$403.4K
Q4 23	$611.5K	$752.7K
Q1 24	$696.0K	$475.1K
Q2 24	$683.2K	$230.9K
Q3 24	$540.9K	$389.3K
Q4 24	$811.3K	$473.6K
Q1 25	$878.5K	$540.4K
Q2 25	$847.6K	$568.2K
Q3 25	$869.7K	$434.8K
Q4 25	$1M	$465.8K
Q1 26	$720.2K	$418.6K
Q2 26	$873.5K	$436.9K
Q3 26	$795.6K	$352.1K

Revenue Segments

Quarter	Contract Research and Development	Product
Q4 22	$352.5K	$6M
Q1 23	$263.4K	$7M
Q2 23	$203.3K	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$10M	$21M	$31M
Q1 23	$13M	$15M	$28M
Q2 23	$4M	$10M	$14M
Q3 23	$2M	$10M	$12M
Q4 23	$2M	$16M	$17M
Q1 24	$1M	$12M	$14M
Q2 24	$7M	$7M	$14M
Q3 24	$5M	$14M	$19M
Q4 24	$10M	$12M	$22M
Q1 25	$6M	$16M	$22M
Q2 25	$3M	$20M	$23M
Q3 25	$5M	$15M	$20M
Q4 25	$8M	$14M	$22M
Q1 26	$3M	$13M	$16M
Q2 26	$5M	$13M	$18M
Q3 26	$3M	$17M	$21M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	5M	-0.1%	-0.0%
Q1 23	5M	-0.0%	-0.1%
Q2 23	5M	+0.0%	-0.1%
Q3 23	5M	+0.0%	-0.1%
Q4 23	5M	+0.1%	+0.1%
Q1 24	5M	+0.1%	+0.2%
Q2 24	5M	+0.0%	+0.2%
Q3 24	5M	-0.1%	+0.1%
Q4 24	5M	+0.0%	+0.1%
Q1 25	5M	-0.0%	-0.0%
Q2 25	5M	+0.0%	-0.0%
Q3 25	5M	-0.0%	+0.0%
Q4 25	5M	+0.0%	-0.0%
Q1 26	5M	-0.0%	-0.0%
Q2 26	5M	+0.0%	-0.0%
Q3 26	5M	+0.0%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$137.1K	49
Q1 23	$149.7K	49
Q2 23	$218.7K	49
Q3 23	$151.1K	49
Q4 23	$228.5K	56
Q1 24	$157.7K	56
Q2 24	$127.4K	56
Q3 24	$120.6K	56
Q4 24	$131.2K	54
Q1 25	$125.6K	54
Q2 25	$125.2K	54
Q3 25	$93.8K	54
Q4 25	$173.1K	42
Q1 26	$145.3K	42
Q2 26	$151.1K	42
Q3 26	$148.2K	42

Revenue / Employee