What is NVE Corporation's work in process?

NVE Corporation (NVEC) reported work in process of $3.28M in Q1 2026.

How has NVE Corporation's work in process changed year-over-year?

NVE Corporation's work in process decreased by 9.1% year-over-year, from $3.61M to $3.28M.

What is the long-term trend for NVE Corporation's work in process?

Over 4 years (2022 to 2026), NVE Corporation's work in process has grown at a -0.6% compound annual growth rate (CAGR), from $3.36M to $3.28M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

NVE Corporation NVEC Work in process

Work in process at other companies

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$2.36B-0.6%

Honeywell InternationalHON

$1.23B-11.9%

Everspin TechnologiesMRAM

$10.2M—

Sensata TechnologiesST

$152.6M+2.2%

Analog DevicesADI

——

Allegro MicroSystems, Inc.ALGM

——

Other financials

Income statement

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Revenue$7.7M+5.3%

Gross profit$5.9M+3.4%

Operating income$4.7M+11.4%

Net income$4.9M+26.6%

EPS (diluted)$1.02+27.5%

Balance sheet

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Cash & equivalents$1.7M-78.7%

Total debt$905.5K-1.7%

Total equity$58.2M-6.5%

Total assets$60.4M-6.1%

Cash flow

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Operating cash flow$4.5M+80.7%

CapEx$9.0M-11.6%

Free cash flow$12.4M-0.8%

Valuation

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Market cap$456.24M+35.7%

Enterprise value$455.43M+38.4%

P/E30×+7.7×

P/S17.3×+4.3×

Profitability

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Gross margin78.7%-4.9pp

Operating margin60.5%-1.4pp

Net margin57.7%-0.5pp

FCF margin53.8%+0.7pp

Returns & leverage

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Return on equity25.2%+1.7pp

Debt / equity0×0.0×

Current ratio28.2×-0.2×

Where this comes from

Reported directly by NVE Corporation in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: NVE Corporation’s 10-K, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NVE Corporation's work in process?: NVE Corporation (NVEC) reported work in process of $3.28M in Q1 2026.
How has NVE Corporation's work in process changed year-over-year?: NVE Corporation's work in process decreased by 9.1% year-over-year, from $3.61M to $3.28M.
What is the long-term trend for NVE Corporation's work in process?: Over 4 years (2022 to 2026), NVE Corporation's work in process has grown at a -0.6% compound annual growth rate (CAGR), from $3.36M to $3.28M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.