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NVE (NVEC) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Oct 21, 2026 · NVE (NVEC) Q2 FY27 earnings results →

Q2 FY27 Revenue down 8% year over year to $5.8M · 54¢ of every $1 of revenue kept as net profit · operating margin 55.0%

NVE made $5.8M in Q2 FY27 (-8% Y/Y): Product $5.6M, Service $259K. Operating margin 55.0%, net earnings $3.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 21, 2026.

Revenue$5.8M
Year over year-8%
Operating margin55.0%
Net earnings$3.2M
Operating cash flow$5.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $5.8M in Q2 FY27, down 8% year over year and down 47% from the previous quarter. Product was the largest line at 96% of revenue. Product lost $563K year over year (down 9%), 110% of the total change.

Gross margin was 78.2%, down 0.1 points from Q2 FY26. Operating profit was $3.2M, a 55.0% margin (down 2.7 points year over year). Operating expenses grew 4% against a revenue fall of 8%. The fastest-growing cost line was SG&A (+44%). Net earnings were $3.2M, down 4% year over year. The effective tax rate was 13.8%.

Operating cash flow was $5.8M (up 108% year over year), 183% of net earnings. Non-cash charges added back $232K of depreciation and $247K of share-based compensation. Working capital and other items added $2.2M. Capital expenditures of −$4.1M left free cash flow of $10.0M.

Quarterly history

NVE revenue by quarterNVE revenue by quarter$7.3MQ4 FY25$6.1MQ1 FY26$6.3MQ2 FY26$6.2MQ3 FY26$7.7MQ4 FY26$11.0MQ1 FY27$5.8MQ2 FY27
NVE net earnings by quarterNVE net earnings by quarter$3.9MQ4 FY25$3.6MQ1 FY26$3.3MQ2 FY26$3.4MQ3 FY26$4.9MQ4 FY26$6.4MQ1 FY27$3.2MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QOct 21, 2026$5.8M-8%55.0%$3.2M$5.8M
Q1 FY2710-QJul 22, 2026$11.0M+81%65.8%$6.4M$5.3M
Q4 FY2610-KMay 6, 2026$7.7M+5%61.9%$4.9M$4.5M
Q3 FY2610-QJan 21, 2026$6.2M+23%60.2%$3.4M$4.2M
Q2 FY2610-QOct 22, 2025$6.3M-6%57.6%$3.3M$2.8M
Q1 FY2610-QJul 23, 2025$6.1M-10%62.0%$3.6M$5.2M
Q4 FY2510-KMay 7, 2025$7.3M+3%58.4%$3.9M$2.5M

Charts

NVE: revenue growth, year over year and quarter over quarterNVE: revenue growth, year over year and quarter over quarterY/YQ/Q+3%Q4 FY25-10%-16%Q1 FY26-6%+4%Q2 FY26+23%-2%Q3 FY26+5%+23%Q4 FY26+81%+44%Q1 FY27-8%-47%Q2 FY27
Latest (Q2 FY27): Y/Y -8%, Q/Q -47%.
NVE: where the cash came from (+) and went (−), TTM to Q2 FY27NVE: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$19.8MOther financing−$19.4MCapital spending−$1.1MCash drawn (+) / kept (−)$1.1MOther investing−$442K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
NVE: profit against cash, quarter by quarterNVE: profit against cash, quarter by quarterNet incomeOperating cash flow$3.0M$3.8MQ3 FY25$3.9M$2.5MQ4 FY25$3.6M$5.2MQ1 FY26$3.3M$2.8MQ2 FY26$3.4M$4.2MQ3 FY26$4.9M$4.5MQ4 FY26$6.4M$5.3MQ1 FY27$3.2M$5.8MQ2 FY27
Latest (Q2 FY27): Net income $3.2M, Operating cash flow $5.8M.
NVE: diluted shares by fiscal yearNVE: diluted shares by fiscal year5MFY215MFY225MFY235MFY245MFY255MFY26
+0.1% since FY21: more shares outstanding (issuance, stock pay).
NVE in its industry: growth against margin (80 companies, SIC 3674)NVE in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONMCHPQARMFSLRMPWRNXTSWKSQorvo, Inc.UCTTALABPENGCRUSDIODCRDOVIAVMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERLEDSGSITSODIQUIKPRSOGCTSMOBXALMUASTIIPWRNVEC (-8%, 55%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About NVE

We develop and sell devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information.

In its own words, from its 10-Q, filed Jul 22, 2026.

NVE against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median +40%. Operating margin: 55.0% against the peers' median 47.5%.

CompanyQuarterRevenueY/YOp. margin
NVEC NVEQ2 FY27$5.8M-8%55.0%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: NVE 10-Q on SEC EDGAR · CIK 724910 · Semiconductors & Related Devices

13F: who owns NVEC and who is buying

Largest holders of NVEC (13F)Largest holders of NVEC (13F)Defiance ETFs, LLC$67.3MBlackRock$44.3MState Street$39.2MVanguard Group$24.0MVanguard Capital Management LLC$22.5MVanguard Portfolio Management LLC$20.4MRenaissance Technologies LLC$17.8MGeode Capital Management, LLC$16.4MRanger Investment Management, L.P.$12.7MDimensional Fund Advisors LP$11.4M
Funds' net buying of NVEC by quarter (13F)Funds' net buying of NVEC by quarter (13F)−$3.7M2024-09−$648K2024-12$3.6M2025-03$9.0M2025-06$3.4M2025-09−$9.6M2025-12−$3.5M2026-03$17.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on NVEC

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：NVE（NVEC）财报

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