NVE Corporation (NVEC)
🔔 Watch stock
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.
Appears in These Scanners
This stock currently matches 10 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. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Basics
Performance
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.
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 |
- 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.
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 |
| Website | nve.com |
| IPO Date | 26. Sep 1996 |
| Next Earnings | 22. Jul 2026 |
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.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 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.