Stocks NVEC Financial statements
Financial statementsNVE CORP /NEW/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NVE CORP /NEW/ files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 28.3 | 29.9 | 26.5 | 25.4 | 21.4 | 27 | 38.3 | 29.8 | 25.9 | 26.3 |
| Cost of revenue | 6.08 | 6.27 | 5.22 | 4.89 | 4.12 | 6.26 | 8.06 | 6.77 | 4.24 | 5.6 |
| Gross profit | 22.2 | 23.6 | 21.3 | 20.5 | 17.2 | 20.7 | 30.2 | 23 | 21.6 | 20.7 |
| Research and development | 3.34 | 3.7 | 4.11 | 3.69 | 3.18 | 2.93 | 2.58 | 2.73 | 3.64 | 3.16 |
| Selling, general and administrative | 1.46 | 1.44 | 1.22 | 1.32 | 1.32 | 1.47 | ||||
| Operating expenses | 4.8 | 5.14 | 5.33 | 5.01 | 4.5 | 4.4 | 4.55 | 4.51 | 5.64 | 4.81 |
| Operating income | 17.4 | 18.5 | 15.9 | 15.5 | 12.7 | 16.3 | 25.6 | 18.5 | 16 | 15.9 |
| Interest income | 1.65 | 1.56 | 1.79 | 1.79 | 1.5 | 1.17 | 1.45 | 1.95 | 1.91 | 1.89 |
| Pre-tax income | 19.1 | 20 | 17.7 | 17.3 | 14.2 | 17.5 | 27.1 | 20.5 | 18 | 17.8 |
| Income tax | 6.15 | 6.1 | 3.2 | 2.78 | 2.55 | 2.99 | 4.4 | 3.34 | 2.97 | 2.62 |
| Net income | 12.9 | 13.9 | 14.5 | 14.5 | 11.7 | 14.5 | 22.7 | 17.1 | 15.1 | 15.2 |
| EBITDA | 18.6 | 19.4 | 16.6 | 16.1 | 13.3 | 16.8 | 25.8 | 18.8 | 16.3 | 16.4 |
| EPS, basic | 2.68 | 2.87 | 3.00 | 3.00 | 2.42 | 3.00 | 4.70 | 3.54 | 3.12 | 3.14 |
| EPS, diluted | 2.68 | 2.87 | 2.99 | 3.00 | 2.42 | 3.00 | 4.70 | 3.54 | 3.11 | 3.14 |
| Shares, basic (weighted) | 4.84 | 4.84 | 4.84 | 4.85 | 4.83 | 4.83 | 4.83 | 4.83 | 4.84 | 4.84 |
| Shares, diluted (weighted) | 4.84 | 4.85 | 4.85 | 4.85 | 4.83 | 4.84 | 4.83 | 4.84 | 4.84 | 4.84 |
| Dividend per share | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
Balance sheet
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 8.2 | 4.76 | 6.88 | 8.07 | 10.4 | 10.4 | 1.67 | 10.3 | 8.04 | 1.71 |
| Short-term investments | 19.6 | 20.8 | 12.5 | 19.1 | 7.68 | 20.8 | 15.5 | 11.9 | 13.7 | 18.1 |
| Receivables | 3.44 | 2.89 | 3 | 2.69 | 1.96 | 4.7 | 6.52 | 3.14 | 3.59 | 3.41 |
| Inventory | 3.36 | 3.65 | 4.26 | 3.88 | 3.9 | 5.09 | 6.42 | 7.16 | 7.45 | 7.08 |
| Other current assets | 0.61 | 0.64 | 0.82 | 0.66 | 0.39 | 0.42 | 0.66 | 0.69 | 0.43 | 1.86 |
| Total current assets | 35.2 | 32.7 | 27.4 | 34.4 | 24.4 | 41.5 | 30.8 | 33.2 | 33.2 | 32.2 |
| Property, plant and equipment | 1.41 | 1.33 | 0.89 | 0.58 | 0.34 | 0.61 | 1.35 | |||
| Lease right-of-use assets | 0.82 | 0.69 | 0.56 | 0.43 | 0.29 | 0.92 | 0.79 | |||
| Long-term investments | 56.8 | 52.8 | 54.9 | 43.6 | 47 | 24.3 | 36.1 | 30.8 | 26.3 | 23.7 |
| Total assets | 93.8 | 87.4 | 83.6 | 79.5 | 72.5 | 67.5 | 69.3 | 66.8 | 64.3 | 60.4 |
| Accounts payable | 0.38 | 0.41 | 0.38 | 0.19 | 0.34 | 0.94 | 0.28 | 0.13 | 0.21 | 0.28 |
| Accrued liabilities | 0.58 | 0.57 | 0.46 | 0.48 | 0.54 | 1.36 | 1.38 | 0.73 | 0.87 | 0.7 |
| Deferred revenue | 0.14 | |||||||||
| Total current liabilities | 1.1 | 0.99 | 0.84 | 0.8 | 1.03 | 2.46 | 1.83 | 1.04 | 1.17 | 1.14 |
| Lease liabilities | 0.71 | 0.58 | 0.45 | 0.34 | 0.18 | 0.84 | 0.74 | |||
| Total liabilities | 1.1 | 0.99 | 0.84 | 1.5 | 1.61 | 2.9 | 2.18 | 1.21 | 2.01 | 2.13 |
| Paid-in capital | 19.5 | 19.6 | 19.9 | 19.4 | 19.3 | 19.3 | 19.3 | 19.6 | 19.8 | 19.9 |
| Retained earnings | 73.2 | 67.7 | 62.9 | 58 | 50.4 | 45.6 | 48.9 | 46.7 | 42.5 | 38.3 |
| Other comprehensive income | -0.04 | -0.92 | -0.08 | 0.52 | 1.1 | -0.32 | -1.21 | -0.78 | -0.07 | -0.03 |
| Shareholders' equity | 92.7 | 86.4 | 82.8 | 78 | 70.9 | 64.6 | 67.1 | 65.6 | 62.3 | 58.2 |
| Total equity | 92.7 | 86.4 | 82.8 | 78 | 70.9 | 64.6 | 67.1 | 65.6 | 62.3 | 58.2 |
| Total liabilities and equity | 93.8 | 87.4 | 83.6 | 79.5 | 72.5 | 67.5 | 69.3 | 66.8 | 64.3 | 60.4 |
| Shares outstanding | 4.84 | 4.84 | 4.85 | 4.84 | 4.83 | 4.83 | 4.83 | 4.83 | 4.84 | 4.84 |
Cash flow statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 12.9 | 13.9 | 14.5 | 14.5 | 11.7 | 14.5 | 22.7 | 17.1 | 15.1 | 15.2 |
| Depreciation and amortization | 1.15 | 0.98 | 0.71 | 0.55 | 0.54 | 0.42 | 0.2 | 0.31 | 0.32 | 0.46 |
| Stock-based compensation | 0.02 | 0.04 | 0.09 | 0.05 | 0.05 | 0.08 | ||||
| Deferred income tax | 0.01 | 0.1 | -0.03 | 0.08 | -0.13 | 0.02 | 0.16 | -1 | -0.61 | 2.11 |
| Change in receivables | -1.19 | 0.55 | -0.11 | 0.3 | 0.73 | -2.74 | -1.82 | 3.37 | -0.44 | 0.18 |
| Change in inventory | -0.15 | -0.29 | -0.61 | 0.38 | -0.02 | -1.19 | -1.33 | -0.74 | -0.29 | 0.37 |
| Change in payables | 0.08 | 0.04 | -0.15 | 0.41 | 0.11 | 1.29 | -0.73 | -0.96 | ||
| Cash from operations | 12.4 | 15.2 | 14.2 | 15.9 | 13.4 | 12.5 | 19.1 | 18.2 | 14.3 | 16.7 |
| Capital expenditures | -0.52 | -0.6 | -0.07 | -0.05 | -0.06 | -0.48 | -0.94 | -0.02 | -1.26 | -2.19 |
| Purchases of investments | -11.5 | -18.2 | -13.7 | -7.2 | -10.5 | 0 | -28.4 | -6.1 | -11.3 | -15.2 |
| Sales and maturities of investments | 19.4 | 19.5 | 20.8 | 12.5 | 19 | 7.5 | ||||
| Cash from investing | 7.35 | 0.72 | 7.06 | 5.25 | 8.42 | 7.02 | -8.53 | 9.58 | 2.67 | -3.63 |
| Stock issued | 0.25 | 0.05 | 0.22 | 0.11 | ||||||
| Share buybacks | -0.69 | -0.09 | -0.16 | -0.02 | 0 | |||||
| Dividends paid | -19.3 | -19.4 | -19.4 | -19.4 | -19.3 | -19.3 | -19.3 | -19.3 | -19.3 | -19.3 |
| Cash from financing | -19.1 | -19.3 | -19.2 | -20 | -19.4 | -19.5 | -19.3 | -19.2 | -19.2 | -19.3 |
| Net change in cash | 0.66 | -3.44 | 2.12 | 1.19 | 2.36 | 0.02 | -8.78 | 8.61 | -2.25 | -6.32 |
| Free cash flow | 11.9 | 14.5 | 14.2 | 15.8 | 13.3 | 12 | 18.2 | 18.2 | 13.1 | 14.5 |
| Income taxes paid | 6.04 | 5.97 | 3.43 | 2.59 | 2.44 | 2.52 | 4.5 | 4.54 | 3.31 | 1.93 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 79.3% | Gross profit / revenue. |
| Operating margin | 62.1% | Operating income / revenue. |
| Pre-tax margin | 68.0% | Pre-tax income / revenue. |
| Net margin | 57.6% | Net income / revenue. |
| FCF margin | 65.5% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 53.7% | Cash from operations / revenue. |
| Effective tax rate | 15.2% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 30.1% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 29.0% | Net income / average total assets. |
| Return on invested capital (ROIC) | 28.9% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| R&D / revenue | 10.8% | Research and development expense / revenue. |
| Capex / revenue | 11.8% | Capital expenditures / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 1.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -11.7% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 4.3% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | -4.2% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | -11.8% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 3.8% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | -0.5% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -14.7% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | 4.6% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 0.4% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | -14.1% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 4.3% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 0.9% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -12.5% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 5.4% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 1.0% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -12.6% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 5.3% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 16.4% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -4.4% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 4.5% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 10.8% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -7.3% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 1.7% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 0.0% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 0.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 0.0% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -6.5% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -4.6% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | -3.9% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | -6.1% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -4.5% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | -3.6% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | 0.0% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 0.0% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 0.0% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 23.7x | Current assets / current liabilities. |
| Quick ratio | 18.8x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 14.5x | (Cash + short-term investments) / current liabilities. |
| Liabilities / assets | 3.8% | Total liabilities / total assets. |
| Working capital | $34.2M | Current assets - current liabilities. |
| Tangible book value | $59.8M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.50x | Revenue / average total assets. |
| Inventory turnover | 0.97x | Cost of revenue / average inventory. |
| Days inventory | 376 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 4.78x | Revenue / average receivables. |
| Days sales outstanding | 76 days | 365 x average receivables / revenue. |
| Days payables | 15 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 437 days | Days inventory + days sales outstanding - days payables. |
| FCF conversion | 113.6% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 22.0% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $3.72 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $6.45 | Revenue / diluted weighted shares. |
| FCF per share | $4.22 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $3.46 | Cash from operations / diluted weighted shares. |
| Book value per share | $12.36 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $12.36 | Tangible book value / shares outstanding. |
| Cash per share | $4.50 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 107.4% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 94.6% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $527.9M | Share price x shares outstanding. |
| Enterprise value | $506.1M | Market cap + total debt - cash - short-term investments. |
| P/E | 29.3x | Market cap / net income. Only when net income is positive. |
| P/S | 16.9x | Market cap / revenue. |
| P/B | 8.83x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 8.83x | Market cap / tangible book value, when positive. |
| P/FCF | 25.8x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 31.5x | Market cap / cash from operations, when positive. |
| EV/Sales | 16.2x | Enterprise value / revenue. |
| EV/EBIT | 26.1x | Enterprise value / operating income, when both are positive. |
| EV/FCF | 24.7x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 3.9% | Free cash flow / market cap. |
| Earnings yield | 3.4% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 3.7% | Dividends paid over the period / market cap. |
| Shareholder yield | 3.7% | (Dividends paid + share buybacks) / market cap. |
What was NVE CORP /NEW/'s revenue in fiscal 2026?
NVE CORP /NEW/ reported revenue of $26.3M for fiscal 2026, 1.8% higher than the year before.
Was NVE CORP /NEW/ profitable in fiscal 2026?
Yes. Net income was $15.2M, a net margin of 57.7%.
How much free cash flow did NVE CORP /NEW/ generate in fiscal 2026?
Cash from operations of $16.7M minus capital expenditures of $2.2M left free cash flow of $14.5M.