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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: 2026
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 |
|---|---|---|---|---|---|---|---|
| 2026 | $26M | $16M | $15M | $14M | 26.1% | 1.8% | 0.9% |
| 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% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 38.25 | 29.80 | 25.87 | 26.33 |
| Operating Revenue | - | 38.25 | 29.80 | 25.87 | 26.33 |
| Cost Of Revenue | - | 8.06 | 6.77 | 4.24 | 5.60 |
| Gross Profit | - | 30.19 | 23.03 | 21.64 | 20.73 |
| Operating Expense | - | 4.55 | 4.51 | 5.64 | 4.81 |
| Research And Development | - | 2.58 | 2.73 | 3.64 | 3.16 |
| Selling General And Administration | - | 1.96 | 1.77 | 2.01 | 1.65 |
| Total Expenses | - | 12.61 | 11.29 | 9.88 | 10.41 |
| Operating Income | - | 25.64 | 18.52 | 15.99 | 15.92 |
| Total Operating Income As Reported | - | 25.64 | 18.52 | 15.99 | 15.92 |
| EBITDA | - | 25.84 | 18.83 | 16.32 | 16.38 |
| Normalized EBITDA | - | 25.84 | 18.83 | 16.32 | 16.38 |
| EBIT | - | 25.64 | 18.52 | 15.99 | 15.92 |
| Interest Income | - | 1.45 | 1.95 | 1.91 | 1.89 |
| Net Interest Income | - | 1.45 | 1.95 | 1.91 | 1.89 |
| Other Non Operating Income Expenses | - | - | - | 0.14 | 0 |
| Other Income Expense | - | - | -0.01 | 0.14 | 0 |
| Interest Income Non Operating | - | 1.45 | 1.95 | 1.91 | 1.89 |
| Net Non Operating Interest Income Expense | - | 1.45 | 1.95 | 1.91 | 1.89 |
| Pretax Income | - | 27.09 | 20.47 | 18.04 | 17.82 |
| Tax Provision | - | 4.40 | 3.34 | 2.97 | 2.62 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Net Income From Continuing And Discontinued Operation | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Net Income From Continuing Operation Net Minority Interest | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Net Income | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Net Income Common Stockholders | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Net Income Including Noncontrolling Interests | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Normalized Income | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Diluted NI Availto Com Stockholders | - | 22.69 | 17.12 | 15.06 | 15.20 |
| Basic Average Shares | - | 4.83 | 4.83 | 4.84 | 4.84 |
| Diluted Average Shares | - | 4.83 | 4.84 | 4.84 | 4.84 |
| Reconciled Depreciation | - | 0.20 | 0.31 | 0.32 | 0.46 |
| Reconciled Cost Of Revenue | - | 8.06 | 6.77 | 4.24 | 5.60 |
| Total Unusual Items | - | 0 | -0.01 | - | - |
| Total Unusual Items Excluding Goodwill | - | 0 | -0.01 | - | - |
| Special Income Charges | - | 0 | -0.01 | - | - |
| Write Off | - | 0 | 0.01 | - | - |
| Provision For Doubtful Accounts | - | 0 | 0.01 | 0 | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NVE Corporationthis co. | NVEC | $528M | 34.71↑ premium | 9.06 | 26.1% | 31.06 |
| Cerence Inc. | CRNC | $557M | - | 3.70 | -12.4% | 57.48 |
| i3 Verticals, Inc. | IIIV | $555M | 31.04 | 1.42 | 4.6% | 11.46 |
| PubMatic, Inc. | PUBM | $552M | -38.15 | 2.10 | -5.5% | 16.98 |
| OneSpan Inc. | OSPN | $546M | 7.49 | 2.01 |
| - |
| - |
| - |
| - |
| 26.8% |
| 8.00 |
| Ribbon Communications Inc. | RBBN | $541M | 13.64 | 1.20 | 8.8% | 13.99 |
| Rapid7, Inc. | RPD | $521M | 22.27 | 3.36 | 15.1% | 11.79 |
| Backblaze, Inc. | BLZE | $503M | -19.64 | 6.04 | -30.8% | 136.25 |
| Priority Technology Holdings, Inc. | PRTH | $499M | 8.96 | -4.97 | -55.5% | 7.30 |
| Peer Median | - | 8.96 | 2.05 | -0.5% | 12.89 | |