Nve Corp. /NEW/ (NVEC) intrinsic value & 10-year financials
Nve Corp. /NEW/ (NVEC) has a Graham intrinsic value of $32.67 per share. At $99.13 on Oct 17, 2026, the stock trades 203% above that value. Over the last 10 fiscal years revenue shrank 30.2% a year to $1.1M, with an average return on invested capital of 21.0%.
- Graham intrinsic value
- $32.67
- Share price (Oct 17, 2026)
- $99.13
- Price vs Graham value
- 203% above
- Market cap
- $479.7M
- Revenue (FY2026)
- $1.1M
- Revenue growth (10-yr CAGR)
- -30.2%
- ROIC (10-yr avg)
- 21.0%
- Free cash flow (FY2026)
- $14.5M
NVEC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $1.1M | $15.2M | $3.14 | $14.5M | 1435.2% | 24.2% |
| FY2025 | $1.2M | $15.1M | $3.11 | $13.1M | 1287.2% | 24.2% |
| FY2024 | $586.1K | $17.1M | $3.54 | $18.2M | 3159.6% | 25.6% |
| FY2023 | $1.1M | $22.7M | $4.70 | $18.2M | 2426.4% | 35.7% |
| FY2022 | $27.0M | $14.5M | $3.00 | $12.0M | 60.5% | 23.4% |
| FY2021 | $21.4M | $11.7M | $2.42 | $13.3M | 59.6% | 15.9% |
| FY2020 | $25.4M | $14.5M | $3.00 | $15.8M | 61.1% | 18.4% |
| FY2019 | $26.5M | $14.5M | $2.99 | $14.2M | 60.2% | 15.4% |
| FY2018 | $29.9M | $13.9M | $2.87 | $14.5M | 61.8% | 14.3% |
| FY2017 | $28.3M | $12.9M | $2.68 | $11.9M | 61.6% | 12.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NVE CORP /NEW/ is facing top-line stagnation, with revenue contracting over the decade.
NVE CORP /NEW/ has earned high returns on invested capital, averaging 23.9% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
NVE CORP /NEW/ has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, NVE CORP /NEW/ is modeled at 1.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $32.67 per share.