Deep Value: cash covers more than 100% of the stock price

This company holds roughly $120M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Identiv

INVE

Computer Hardware · Technology

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak 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

Good

Valuation

Data not available

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Winston Score History

The full picture

Identiv makes security technology that controls who can access buildings, computers, and sensitive information. Its main products include smart card readers, radio-frequency identification (RFID) chips, and physical access control systems. The company sells to government agencies, healthcare facilities, and businesses that need to verify identities or track physical assets.

Identiv earns money by selling hardware devices and the software that runs them, with some recurring revenue from service contracts. It operates mainly in the United States but also has customers in Europe and Asia. The company is small, with a market cap around $100 million, and competes against much larger security firms, which limits its pricing power. Its thin gross margin of roughly 16% and deeply negative operating margin signal that costs are running well ahead of revenue, making a return to profitability the central challenge the business faces going forward.

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

+12.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+23.1% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

21.9%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~6 years

$119M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$119M cash & investments at current burn rate

Growth context

Identiv is growing revenue at 13% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

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Quality

Profit per sale

Gross Margin

16.1%

Thin — 16.1% gross margin

Profit after running costs

Operating Margin

-97.0%

Losing money on operations — -97.0%

Return on the money invested

ROCE

-14.6%

Weak — -14.6% 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

+3.1%

Slow sales growth (+3.1% YoY)

Profit growth

EPS YoY

-122.0%

Earnings shrinking (-122.0% YoY)

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

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-38.1%

Burning cash (-38.1%)

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

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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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