NVE CORP /NEW/
NVEC · Semiconductors & Related Devices · 4.8M shares · +0%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$25K (gross $21K, SBC $46K)
Reference price $72.25 · est. market cap ~$349M — last insider sale, 2026-01-29 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Tiny spintronics maker with extraordinary margins and a debt-free, cash-rich balance sheet, but near-zero growth.
Strengths
- Extraordinary margins and returns — operating margin 60.5% (100th), net margin 57.7% (100th), ROA 25.2% (98th)
- Fortress balance sheet — current ratio 28.21 (100th), debt-free, FCF margin 54.9% (100th)
- High-IP niche (spintronic sensors/couplers) — qualitative (per 10-K)
Risks
- Near-zero growth — revenue +1.8% (23rd), net income +0.9%
- Micro-cap scale and single-source wafer-supplier risk per risk factors — qualitative (per 10-K)
- Customer/end-market concentration — qualitative (per 10-K)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~79% of revenue from one customer/distributor — Gross profit was 79% of revenue for fiscal 2026 compared to 84% for fiscal 2025
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
78.7%
Operating margin
60.5%
Net margin
57.7%
Return on equity
26.1%
Return on assets
25.2%
Revenue growth (QoQ)
23.0%
Net-income growth
0.9%
Current ratio
28.2×
Free cash flow
$14M
EBITDA
$16M
Tangible book value
$58M
Cash & investments
$44M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-29 | BAKER DANIEL A | Sell | 103 | $72.25 |
| 2026-01-27 | BAKER DANIEL A | Sell | 1.2K | $74.04 |
| 2025-04-04 | BRACKE JAMES W | Buy | 100 | $57.97 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-22 | 0001376474-26-000456 ↗ |
| 10-K | 2026-05-06 | 2026-03-31 | 0001376474-26-000348 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001376474-26-000347 ↗ |
| 10-Q | 2026-01-21 | 2025-12-31 | 0001376474-26-000059 ↗ |
| 8-K | 2026-01-21 | 2026-01-21 | 0001376474-26-000058 ↗ |
| 8-K/A | 2025-12-17 | 2006-01-01 | 0001376474-25-000978 ↗ |
| 10-Q | 2025-10-22 | 2025-09-30 | 0001376474-25-000857 ↗ |
| 8-K | 2025-10-22 | 2025-10-22 | 0001376474-25-000856 ↗ |
| 8-K | 2025-08-12 | 2025-08-07 | 0001376474-25-000737 ↗ |
| 10-Q | 2025-07-23 | 2025-06-30 | 0001376474-25-000658 ↗ |
| 8-K | 2025-07-23 | 2025-07-23 | 0001376474-25-000657 ↗ |
| 10-K | 2025-05-07 | 2025-03-31 | 0001376474-25-000437 ↗ |