NVE Corporation

NVEC

Semiconductors · Technology

Price

$109.89

-0.20 (-0.19%)

Market Cap

$531.6M

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

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

How the score breaks down

Quality

Exceptional

Growth

Good

Cash Flow

Strong

Stability

Exceptional

Valuation

Mixed

Dividends

Mixed

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Winston Score History

The full picture

NVE Corporation is a small semiconductor company that makes specialized chips using a technology called "spintronics," which uses the spin of electrons to store and transfer data. Its main products are spintronic couplers and sensors, which are used to isolate electrical signals in industrial equipment, medical devices, and factory automation systems. NVE holds a large portfolio of patents in this niche area and licenses that technology to other companies.

NVE earns money two ways: selling its physical chips directly to customers and collecting royalty payments from companies that license its spintronic patents. It operates primarily in the United States but sells products globally to industrial and medical customers. Its patent portfolio and deep technical expertise create a strong competitive moat in a very narrow market. The main risk is that its addressable market is small, which limits how much the company can grow, and key licensing agreements expiring or not being renewed could meaningfully reduce revenue.

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

+5.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+27.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$1M/ year

↓ Declining (-69% vs prior year)

4.2% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

1.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$44M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

NVE Corporation is growing revenue at 5% 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.

Share count broadly stable

+0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 4.8M (2022) → 4.8M (2026)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

81.3%

Premium pricing power — 81.3% gross margin

Profit after running costs

Operating Margin

65.8%

Excellent — 65.8% operating margin

Return on the money invested

ROCE

32.1%

Exceptional — 32.1% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+24.1%

Fast-growing sales (+24.1% YoY)

Profit growth

EPS YoY

+24.0%

Earnings growing fast (+24.0% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

93%

Modest — 93% of profit becomes cash

Spare cash per sale

FCF Margin

49.9%

Converts sales into free cash efficiently (49.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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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

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

29.5x

Growth-priced — P/E 29.5

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

3.64%

Moderate income — 3.64% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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