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NVE cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$10.0M in Q2 FY27 · $18.7M over twelve months

Operating cash flow$5.8M
Capital spending$4.1M
Free cash flow+$10.0M
Cash / net income1.8×
Cash conversion cycle546 days

Analysis

In Q2 FY27, NVE generated $5.8M of operating cash flow and spent −$4.1M on capital projects, leaving free cash flow of $10.0M. That is $1.8M less than in Q2 FY26 ($11.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $19.8M; the largest uses were other financing ($19.4M), capital spending ($1.1M), other investing ($442K); the cash balance fell by $1.1M.

Operating cash flow was $5.8M against net income of $3.2M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: receivables +$3.5M, prepaid and other assets −$856K, stock-based pay +$247K.

Its cash conversion cycle was 546 days (receivables 75 + inventory 490 − payables 19).

Free cash flow

NVE: free cash flow by quarterNVE: free cash flow by quarter−$6.3MQ3 FY25$12.5MQ4 FY25−$4.9MQ1 FY26$11.8MQ2 FY26−$4.8MQ3 FY26$12.4MQ4 FY26$1.1MQ1 FY27$10.0MQ2 FY27
Operating cash flow less capital spending.
NVE: operating cash flow against capital spendingNVE: operating cash flow against capital spendingOperating cash flowCapital spending$3.8M$10.2MQ3 FY25$2.5M−$10.0MQ4 FY25$5.2M$10.1MQ1 FY26$2.8M−$9.0MQ2 FY26$4.2M$9.0MQ3 FY26$4.5M−$7.9MQ4 FY26$5.3M$4.2MQ1 FY27$5.8M−$4.1MQ2 FY27
Latest (Q2 FY27): Operating cash flow $5.8M, Capital spending −$4.1M.

Capital allocation, year by year

NVE: where the cash came from (up) and went (down), by fiscal yearNVE: where the cash came from (up) and went (down), by fiscal yearOperating cash flowCapital spendingBuybacksDividendsFY22: Operating cash flow $12.5MFY22: Capital spending −$485KFY22: Buybacks −$164KFY22: Dividends −$19.3M$12.5MFY22FY23: Operating cash flow $19.1MFY23: Capital spending −$936KFY23: Buybacks −$21KFY23: Dividends −$19.3M$19.1MFY23FY24: Operating cash flow $18.2MFY24: Capital spending −$17KFY24: Dividends −$19.3M$18.2MFY24FY25: Operating cash flow $14.3MFY25: Capital spending −$1.3MFY25: Dividends −$19.3M$14.3MFY25FY26: Operating cash flow $16.7MFY26: Capital spending −$2.2MFY26: Dividends −$19.3M$16.7MFY26
Over these 5 years operating cash flow totalled $80.8M; the largest uses were dividends ($96.7M) and capital spending ($4.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$23.6M
Debtnone
Net cash$23.6M

NVE funds itself: free cash flow was $18.7M over the last twelve months, with $23.6M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

NVE: sources (+) and uses (−) of cash, Q2 FY27NVE: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$5.8MOther financing−$4.8MCapital spending$4.1MOther investing−$4.1MCash drawn (+) / kept (−)−$1.1MBuybacks−$168
NVE: sources (+) and uses (−) of cash, TTM to Q2 FY27NVE: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$19.8MOther financing−$19.4MCapital spending−$1.1MCash drawn (+) / kept (−)$1.1MOther investing−$442K

From profit to cash

NVE: net income to operating cash flow, Q2 FY27NVE: net income to operating cash flow, Q2 FY27Net income$3.2MDepreciation & amortization$232KStock-based pay$247KReceivables$3.5MInventory−$187KPrepaid and other assets−$856KOperating cash flow$5.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY277549019546
Q1 FY274130312332
Q4 FY263537913400
Q3 FY263650716528
Q2 FY263449614517
Q1 FY264457315602
Q4 FY253145211472
Q3 FY253987719897

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q2 FY27$5.8M$4.1M−$168—−$1.1M$10.0M
Q1 FY27$5.3M−$4.2M—−$4.8M−$1.2M$1.1M
Q4 FY26$4.5M$7.9M—−$4.8M$1.7M$12.4M
Q3 FY26$4.2M−$9.0M—−$4.8M$1.7M−$4.8M
Q2 FY26$2.8M$9.0M—−$4.8M−$1.9M$11.8M
Q1 FY26$5.2M−$10.1M—−$4.8M$4.8M−$4.9M
Q4 FY25$2.5M$10.0M—−$4.8M−$2.6M$12.5M
Q3 FY25$3.8M−$10.2M—−$4.8M−$2.4M−$6.3M

NVE: income statement and cash flow

NVE, Q2 FY27: revenue $5.8M (-8% year over year), operating margin 55.0%. The chart follows the revenue to costs, profit and cash.

NVE: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.