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NVE Corporation develops and sells devices that use spintronics, a nanotechnology relying on electron spin to acquire, store, and transmit information, both in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in sensing and transmitting data. Its products include standard sensors designed to detect the presence of magnetic or metallic materials, which help determine position, rotation, or speed in the factory automation market. In addition, the company offers custom and medical sensors for medical devices, intended to replace electromechanical magnetic switches. Further, the company provides spintronic couplers for power conversion and industrial Internet of Things (IIoT) markets, as well as DC-to-DC converters for use in power conversion systems and industrial networks for the IIoT and MRAM products. Additionally, it undertakes contracts for research and development and licenses spintronic magnetoresistive random access memory technology. The company sells its products through distributors. NVE Corporation was founded in 1989 and is headquartered in Eden Prairie, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $26M | $16M | $15M | $13M | 24.2% | -13.2% | -12.0% |
| 2024 | $30M | $19M | $17M | $18M | 26.1% | -22.1% | -24.5% |
| 2023 | $38M | $26M | $23M | $18M | 33.8% | 41.7% | 56.4% |
| 2022 | $27M | $17M | $15M | $12M | 22.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 26.99 | 38.25 | 29.80 | 25.87 |
| Cost Of Revenue | 6.26 | 8.06 | 6.77 | 4.24 |
| Gross Profit | 20.72 | 30.19 | 23.03 | 21.64 |
| Operating Expense | 4.40 | 4.55 | 4.51 | 5.64 |
| Operating Income | 16.33 | 25.64 | 18.52 | 15.99 |
| EBITDA | 16.75 | 25.84 | 18.83 | 16.32 |
| EBIT | 16.33 | 25.64 | 18.52 | 15.99 |
| Pretax Income | 17.50 | 27.09 | 20.47 | 18.04 |
| Tax Provision | 2.99 | 4.40 | 3.34 | 2.97 |
| Net Income | 14.51 | 22.69 | 17.12 | 15.06 |
| Net Income Common Stockholders | 14.51 | 22.69 | 17.12 | 15.06 |
| Total Expenses | 10.66 | 12.61 | 11.29 | 9.88 |
| Interest Income | 1.17 | 1.45 | 1.95 | 1.91 |
| Research And Development | 2.93 | 2.58 | 2.73 | 3.64 |
| Selling General And Administration | 1.47 | 1.96 | 1.77 | 2.01 |
| Normalized EBITDA | 16.75 | 25.84 | 18.83 | 16.32 |
| Normalized Income | 14.51 | 22.69 | 17.12 | 15.06 |
| Basic EPS | 3 | 4.70 | 3.54 | 3.12 |
| Diluted EPS | 3 | 4.70 | 3.54 | 3.11 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.17 | 0.16 | 0.16 | 0.16 |
| Total Unusual Items | 0 | 0 | -0.01 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -0.01 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 14.51 | 22.69 | 17.12 | 15.06 |
| Reconciled Depreciation | 0.42 | 0.20 | 0.31 | 0.32 |
| Reconciled Cost Of Revenue | 6.26 | 8.06 | 6.77 | 4.24 |
| Net Interest Income | 1.17 | 1.45 | 1.95 | 1.91 |
| Net Income From Continuing And Discontinued Operation | 14.51 | 22.69 | 17.12 | 15.06 |
| Total Operating Income As Reported | 16.33 | 25.64 | 18.52 | 15.99 |
| Diluted Average Shares | 4.84 | 4.83 | 4.84 | 4.84 |
| Basic Average Shares | 4.83 | 4.83 | 4.83 | 4.84 |
| Diluted NI Availto Com Stockholders | 14.51 | 22.69 | 17.12 | 15.06 |
| Net Income Including Noncontrolling Interests | 14.51 | 22.69 | 17.12 | 15.06 |
| Net Income Continuous Operations | 14.51 | 22.69 | 17.12 | 15.06 |
| Other Income Expense | 0 | 0 | -0.01 | 0.14 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 0.14 |
| Special Income Charges | 0 | 0 | -0.01 | 0 |
| Write Off | 0 | 0 | 0.01 | 0 |
| Net Non Operating Interest Income Expense | 1.17 | 1.45 | 1.95 | 1.91 |
| Interest Income Non Operating | 1.17 | 1.45 | 1.95 | 1.91 |
| Provision For Doubtful Accounts | 0 | 0 | 0.01 | 0 |
| Operating Revenue | 26.99 | 38.25 | 29.80 | 25.87 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NVE Corporationthis co. | NVEC | $376M | 26.61↓ discount | 6.45 | 24.2% | 22.56 |
| Rapid7, Inc. | RPD | $391M | 16.25 | 2.49 | 15.1% | 15.28 |
| Clearfield, Inc. | CLFD | $386M | 62.02 | 1.55 | -3.1% | 34.29 |
| Cerence Inc. | CRNC | $384M | 427.00 | 2.56 | -12.4% | 7.54 |
| Yext, Inc. | YEXT | $379M | 54.14 | 2.92 |
| 23.8% |
| 20.26 |
| IBEX Limited | IBEX | $376M | 9.28 | 2.43 | 27.4% | 5.70 |
| Blend Labs, Inc. | BLND | $365M | - | -11.93 | 26.4% | -22.14 |
| Paysign, Inc. | PAYS | $364M | 50.69 | 7.49 | 15.6% | 22.59 |
| Rackspace Technology, Inc. | RXT | $363M | - | -0.30 | 18.5% | 15.23 |
| Peer Median | - | 52.42 | 2.46 | 17.0% | 15.26 | |