Everspin Technologies (MRAM) AI Stock Analysis

• Market Cap: $135.70M
• Dividend Yield: N/A
• Average Volume (3M): 82.94K
• Price to Earnings (P/E): 176.2
• Beta (1Y): 0.88
• Revenue Growth: -22.48%
• EPS Growth: -102.37%
• Country: US
• Employees: 86
• Sector: Technology
• Sector Strength: 82
• Industry: Semiconductors
• EPS (TTM): -0.05
• Shares Outstanding: 22,467,445
• 10 Day Avg. Volume: 85,285
• 30 Day Avg. Volume: 82,936
• PEG Ratio: 0.50
• Price to Book (P/B): 2.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 16.69
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 0.42
• Enterprise Value/Gross Profit: 3.55
• Enterprise Value/Ebitda: 10.54
• 1Y Price Target: $8.50
• Price Target Upside: 39.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 68 Neutral
• Price Target: $6.50 ▲(6.56%Upside)

Everspin Technologies' stock score reflects a blend of strong operational cash flows and strategic partnerships tempered by declining revenue and profitability challenges. Positive earnings performance and a supportive shareholder base contribute to optimism, yet valuation metrics remain a concern.

Positive Factors

High-Margin Revenues

The company is working with multiple Licensing partners in various stages of development, generating high-margin revenues.

Revenue Growth

Product revenue continues to trend higher driven by existing STT and Toggle design wins.

Revenue Guidance

MRAM's revenue guidance came in above Street expectations.

Negative Factors

Metrics Shift

Management announced they will be shifting to non-GAAP metrics to better align with industry practice and to provide enhanced clarity and comparability for stakeholders.

Everspin Technologies Business Overview & Revenue Model

Company Description

Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for embedded MRAM. The company provides its products for applications, including data center, industrial, medical, automotive/transportation, and aerospace markets. It serves original equipment manufacturers and original design manufacturers through a direct sales channel and a network of representatives and distributors. Everspin Technologies, Inc. was incorporated in 2008 and is headquartered in Chandler, Arizona.

How the Company Makes Money

Everspin Technologies makes money primarily through the sale of its MRAM products. The company's revenue model is based on the production and distribution of both standalone and embedded MRAM solutions that cater to diverse industries, including automotive, industrial, and data centers. Key revenue streams include direct sales of MRAM chips and licensing agreements for MRAM technology. Additionally, Everspin collaborates with semiconductor foundries and technology partners to enhance its product offerings and expand its market reach. Strategic partnerships and the growing demand for high-performance, non-volatile memory solutions contribute significantly to the company's earnings.

Everspin Technologies Financial Statement Overview

Summary

Everspin Technologies shows mixed financial performance. Strong operational cash flows and a robust balance sheet are offset by declining revenues and profitability issues. The company's focus on reversing revenue contraction while maintaining a strong equity position is crucial for improving financial health.

Income Statement

Everspin Technologies showed a challenging financial period with a declining revenue trend over the TTM (Trailing-Twelve-Months). The Gross Profit Margin is healthy at 50.3%, but the company is struggling with profitability as indicated by a negative Net Profit Margin of -0.25% and negative EBIT Margin of -17.15%. EBITDA Margin remains slightly positive at 0.70%, highlighting some operational efficiency. Revenue growth has been negative, indicating contraction and pressure on expansion.

Balance Sheet

The company has a solid equity position with an Equity Ratio of 78.57%, indicating a strong capitalization structure. The Debt-to-Equity Ratio is low at 0.07, showing a low reliance on debt financing which reduces financial risk. However, Return on Equity is negative, reflecting the impact of negative net income on shareholder returns.

Cash Flow

The cash flow situation is moderately positive with an Operating Cash Flow to Net Income Ratio of 79.94, indicating robust cash operations relative to net income. Free Cash Flow to Net Income Ratio stands at 57.43, underscoring positive cash generation capability. However, Free Cash Flow Growth has been inconsistent, showing a decrease in the latest TTM compared to the previous year.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
49.11M	50.40M	63.77M	59.98M	55.15M	42.03M
	Gross Profit
24.72M	26.13M	37.24M	33.95M	33.07M	18.09M
	EBIT
-8.42M	-7.09M	5.88M	6.23M	5.04M	-7.56M
	EBITDA
344.00K	2.47M	7.09M	7.40M	6.35M	-5.61M
	Net Income Common Stockholders
-123.00K	781.00K	9.05M	6.13M	4.34M	-8.51M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
42.16M	42.10M	36.95M	26.80M	21.41M	14.60M
	Total Assets
80.23M	77.79M	67.30M	55.33M	39.44M	32.53M
	Total Debt
4.32M	4.64M	5.58M	9.30M	5.75M	10.40M
	Net Debt
-37.84M	-37.45M	-31.37M	-17.50M	-15.65M	-4.20M
	Total Liabilities
17.20M	15.20M	13.38M	16.67M	12.21M	15.12M
	Stockholders Equity
63.03M	62.59M	53.92M	38.66M	27.24M	17.41M
Cash Flow		Free Cash Flow
7.06M	4.05M	11.72M	6.71M	8.33M	-3.24M
	Operating Cash Flow
9.83M	7.10M	13.13M	9.49M	9.36M	-2.92M
	Investing Cash Flow
-3.25M	-3.06M	-1.39M	-2.59M	-1.03M	-320.00K
	Financing Cash Flow
771.00K	1.11M	-1.59M	-1.52M	-1.52M	3.35M

Everspin Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRAM, the sentiment is Positive. The current price of 6.1 is above the 20-day moving average (MA) of 5.92, above the 50-day MA of 5.56, and above the 200-day MA of 5.83, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 59.07 is Neutral, neither overbought nor oversold. The STOCH value of 85.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRAM.

Everspin Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVEC	70 Outperform	$354.95M	23.57	23.57%	5.45%	-13.18%	-12.06%
MRAM	68 Neutral	$135.70M	176.22	-0.31%	―	-22.48%	-102.37%
NVTS	63 Neutral	$1.53B	―	-26.43%	―	-16.95%	-2.47%
Sector *	62 Neutral	$11.92B	10.48	-7.50%	2.95%	7.40%	-8.18%
MX	54 Neutral	$137.04M	―	-14.88%	―	3.59%	-64.21%
GSIT	52 Neutral	$82.18M	―	-33.15%	―	-5.73%	47.83%
ATOM	48 Neutral	$191.90M	―	-90.30%	―	-78.70%	13.98%

Everspin Technologies Corporate Events

Everspin Technologies Holds Annual Stockholders Meeting

On May 22, 2025, Everspin Technologies held its Annual Meeting of Stockholders, where key decisions were made regarding the election of directors, the ratification of Ernst & Young LLP as the independent auditor for 2025, and the approval of executive compensation. All seven directors proposed were elected, Ernst & Young’s appointment was ratified, and the executive compensation was approved, reflecting strong shareholder support for the company’s leadership and financial oversight.

The most recent analyst rating on (MRAM) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Everspin Technologies stock, see the MRAM Stock Forecast page.