Everspin Technologies Stock Fair Value Calculation – EVERSPIN TECHNOLOGIES Reports Q2 FY2023 Financial Results
August 24, 2023
🌥️Earnings Overview
On August 3 2023, Everspin Technologies ($NASDAQ:MRAM) revealed its financial results for the second quarter of FY2023, which ended on June 30 2023. The company saw a 7.1% year-on-year increase in total revenue, reaching USD 15.8 million, and a 132.3% surge in net income from the same period last year, amounting to USD 3.9 million.
Stock Price
On Thursday, EVERSPIN TECHNOLOGIES reported its financial results for Q2 FY2023. The company’s stock opened at $9.6 and closed at $9.9, a 7.5% rise from its last closing price of $9.2. This was driven by the company’s strong earnings report, which included better-than-expected revenue and profit numbers. The company also reported robust growth in its other products and services, such as data storage solutions and digital signal processing systems.
Overall, the company is pleased with its financial performance in Q2 FY2023. These results demonstrate the effectiveness of the company’s strategy and the growth potential that still exists within the sector. EVERSPIN TECHNOLOGIES is confident that these strong financial results will continue into the future and help to drive further success for the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Everspin Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 61.52 | 7.17 | 7.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Everspin Technologies. More…
| Operations | Investing | Financing |
| 13.67 | -2.84 | -3.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Everspin Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 57.27 | 11.2 | 2.22 |
Key Ratios Snapshot
Some of the financial key ratios for Everspin Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.7% | – | 12.0% |
| FCF Margin | ROE | ROA |
| 17.6% | 10.6% | 8.0% |
Analysis – Everspin Technologies Stock Fair Value Calculation
At GoodWhale, we have been analyzing EVERSPIN TECHNOLOGIES to examine its welfare. According to our proprietary Valuation Line, the fair value of EVERSPIN TECHNOLOGIES share is around $7.5. However, as of now, the stock is trading at $9.9, which means it is overvalued by 31.2%. We suggest investors to be cautious while making any investment decision for EVERSPIN TECHNOLOGIES. More…
Peers
The company is the market leader in MRAM (magnetoresistive random-access memory), with over 250 customers worldwide. Everspin’s main competitors are X-FAB Silicon Foundries SE, Addvalue Technologies Ltd, and SUESS MicroTec SE.
– X-FAB Silicon Foundries SE ($BER:XFB)
X-FAB Silicon Foundries SE is a leading global foundry company. The company’s market cap is 857.6M as of 2022 and its ROE is 4.97%. The company’s products and services include silicon wafers, analog-to-digital converters, mixed-signal circuits, and power management ICs. The company’s customers include major semiconductor companies, fabless semiconductor companies, and system-on-chip companies.
– Addvalue Technologies Ltd ($SGX:A31)
Addvalue Technologies Ltd is a Singapore-based company that provides satellite communications solutions. The company has a market capitalization of $42.15 million and a negative return on equity of 91.11%. Addvalue Technologies Ltd provides products and services for the maritime, land mobile, and enterprise markets. The company’s products and services include satellite phones, tracking and monitoring devices, and VSAT systems. Addvalue Technologies Ltd was founded in 1991 and is headquartered in Singapore.
– SUESS MicroTec SE ($LTS:0Q3C)
MicroTec SE is a German company that specializes in the development and manufacture of microelectronic production systems. The company has a market capitalization of 285.2 million as of 2022 and a return on equity of 7.7%. MicroTec SE’s products are used in a variety of industries, including automotive, aerospace, and medical. The company has a strong presence in Europe and Asia, and is expanding its operations into the United States.
Summary
Everspin Technologies reported strong financial results for the second quarter of FY2023, ending on June 30 2023. Total revenue increased by 7.1% year-on-year, reaching USD 15.8 million and net income rose 132.3% year-on-year to USD 3.9 million. Investors reacted positively to the news, pushing the stock price up on the same day.
Analysts are encouraged by the company’s financial performance, suggesting that Everspin is able to capitalize on its growth opportunities and profitable investments. Going forward, investors should watch out for further developments in the company’s product portfolio and financials in order to maximize potential returns.
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