Everspin Technologies

MRAM

Semiconductors · Technology

Price

$17.11

+0.14 (+0.82%)

Market Cap

$401.2M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+13.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 20.0M (2021) → 22.6M (2025)

Winston Score History

The full picture

Everspin Technologies makes a special type of computer memory chip called MRAM, which stands for Magnetoresistive Random-Access Memory. Unlike regular memory chips, MRAM can save data even when the power is turned off, making it useful for industrial machines, data center storage, and medical equipment. Everspin is the world's leading commercial producer of MRAM chips, giving it a unique position in a niche corner of the semiconductor industry.

The company earns money by selling its memory chips directly to manufacturers and by licensing its MRAM technology to other chipmakers who want to build MRAM into their own products. Everspin operates primarily in North America but sells to customers globally, and its roughly $60–70 million in annual revenue reflects its small but specialized scale. Its main competitive advantage is its deep expertise and patents in MRAM technology, though the key risk is that larger semiconductor companies could develop competing non-volatile memory solutions that erode its market position.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+41.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-403.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$14M/ year

→ Flat (+3% vs prior year)

25.5% of revenue

1.7x the sector average (15%)

Steady R&D investment year-over-year

Insider Activity

20.1%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~2 years

$44M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$44M cash & investments at current burn rate

Revenue accelerating

Everspin Technologies grew revenue 42% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

53.9%

Healthy — 53.9% gross margin

Profit after running costs

Operating Margin

-23.4%

Losing money on operations — -23.4%

Return on the money invested

ROCE

-13.3%

Weak — -13.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+20.9%

Fast-growing sales (+20.9% YoY)

Profit growth

EPS YoY

-243.9%

Earnings shrinking (-243.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-14.7%

Burning cash (-14.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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