NVE Corporation — Earnings Quality Grade C
NVEC · Technology
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 12 days
AR growth 14.1% exceeds revenue growth -13.2%
Revenue -13.2%, CFFO -21.6%. Cash follows revenue
Expense Quality
Inventory growth 4.1% far exceeds COGS -37.5%, margin rising. Fraud signal
Small-cap context: Inventory ratios on a small base are noisy; a single product launch can move them sharply.
CapEx growth 7413.7% is >2x revenue growth -13.2%
SG&A/Gross Profit = 9.3%, excellent (<30%)
Gross margin swung +6.4pp (77.3% → 83.6%)
Cash Flow Quality
CFFO/NI = 0.95. Profits backed by cash
FCF $0.0B, FCF/NI = 0.87
Accruals ratio = 1.2%. Low accruals
Cash $0.0B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 0.1x. Healthy
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.34 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25