Shareholders being diluted. Shares outstanding up 20% from December 2022 to July 2026.
Everspin Technologies had 20% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Everspin Technologies had 20% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Earnings slid into a loss. Loss per share this year after a profit last year.
Everspin Technologies made a loss per share in its latest year after a profit the year before.
Stock-based pay is a large cost. Stock pay was 10% of revenue in 2025.
Everspin Technologies paid employees $6M in stock in 2025, 10% of its $55M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Investment surge. Capital spending 12% of revenue, up from 4.6% in 2022.
Everspin Technologies is spending 12% of revenue on facilities and equipment, up from 4.6% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-0.8%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225
EBITDA yield-2.4%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361
Free cash flow yield-1.6%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Everspin Technologies
Is Everspin Technologies getting weaker?
Its latest SEC filing (Aug 5, 2026) got weaker in some ways: turned to a loss over the last 12 months; operating margin fell 2.7 points to -15.5%. Its overall score is unchanged at 33/100 since Oct 28, 2026.
How is Everspin Technologies valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 10/100 against 1,711 technology peers.Earnings yield -0.8% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -0.8% vs peers 2.2% (weaker than 100% of peers).
Is Everspin Technologies growing?
More slowly than most of its peers. Growth scores 36/100 against 1,711 technology peers.Revenue growth 20.9% vs a peer median of 8.5% (stronger than 78% of peers).Revenue growth 20.9% vs peers 8.5% (stronger than 78% of peers).3-year revenue growth 0.5% vs a peer median of 4.8% (weaker than 66% of peers).3-year revenue growth 0.5% vs peers 4.8% (weaker than 66% of peers).
How profitable is Everspin Technologies?
Less profitable than most of its peers. Profitability scores 9/100 against 1,711 technology peers.Return on invested capital -25.5% vs a peer median of 6.8% (weaker than 94% of peers).Return on invested capital -25.5% vs peers 6.8% (weaker than 94% of peers).
How risky is Everspin Technologies?
Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings.Current ratio 4.74× vs a peer median of 1.83× (stronger than 89% of peers).Current ratio 4.74× vs peers 1.83× (stronger than 89% of peers).Beta 1.89 vs a peer median of 0.87 (weaker than 92% of peers).Beta 1.89 vs peers 0.87 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026
Got weaker
Turned to a loss over the last 12 months
Operating margin fell 2.7 points to -15.5%
Share count up 3.8% (existing holders diluted)
Worth watching: Everspin Technologies is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
56.9M USD
62.5M USD
+9.7%
Net income (12 months)
284,000 USD
−2.6M USD
turned negative
Operating margin
-12.8%
-15.5%
−2.7 pts
Free cash flow (12 months)
−1.2M USD
−5.4M USD
+352.1%
Debt
1.3M USD
905,000 USD
−32.7%
Cash
40.5M USD
43.9M USD
+8.4%
Shares outstanding
23.4M
24.4M
+3.8%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Semiconductors · 41 companies
Valuations in Semiconductors are near the top of their range since 2016.
94% of months since 2016 were valued lower than now.
73% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +53% and earnings −2% (medians): prices rose faster than earnings.
Median price-to-sales is +324% vs the whole market, against a usual +98%.
2016Shaded: most expensive fifth of its range2026
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
60.0%
56.6%
58.4%
51.8%
51.2%
▼ 0.7 pts
Operating margin
9.1%
10.4%
9.2%
-14.1%
-11.8%
▲ 2.3 pts
Net margin
7.9%
10.2%
14.2%
1.5%
-1.1%
▼ 2.6 pts
Return on assets (ROA)
11.0%
11.1%
13.4%
1.0%
-0.7%
▼ 1.7 pts
Return on equity (ROE)
15.9%
15.9%
16.8%
1.2%
-0.9%
▼ 2.1 pts
Free cash flow margin
15.1%
11.2%
18.4%
8.0%
5.7%
▼ 2.4 pts
Current ratio
3.56×
4.11×
6.59×
6.48×
4.84×
▼ 25%
Quick ratio
2.94×
3.50×
5.64×
5.56×
4.05×
▼ 27%
Debt to equity
0.18×
0.07×
—
0.06×
0.03×
▼ 54%
Interest coverage
9.20×
22.73×
93.41×
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MRAM price history
Price history is added with the daily price update and will appear after the next one.