Sealsq vs NVE
NVE is the larger business, with $26.3m of revenue in fiscal 2026 against $18.3m for Sealsq (1.4 times as much). Sealsq grew faster (66.2% against 1.8%). NVE kept more of each dollar of sales as profit: a net margin of 57.7% against -187.3%. NVE carries less debt relative to equity (0.0% against 0.5%).
| Latest fiscal year | SealsqLAES, 2025 | NVENVEC, 2026 |
|---|---|---|
| Revenue | $18.3m | $26.3m |
| Revenue growth | 66.2% | 1.8% |
| Net income | −$34.2m | $15.2m |
| Operating margin | -218.1% | 60.5% |
| Net margin | -187.3% | 57.7% |
| Return on equity | -12.7% | 25.2% |
| Free cash flow | −$32.0m | $14.5m |
| Cash | $418m | $1.7m |
| Total debt | $2.4m | $0 |
| Debt to equity | 0.5% | 0.0% |
| Dividend per share | — | $4.00 |
| Dividend yield | — | 5.2% |
| Share buybacks | — | — |
| Employees | — | 42 |
| Market value | $260m | $371m |
| Price vs our value range | — | Within our value range |
| Moat score | — | 97 (Strong) |
| Insider trades, 12 months | 0 buys, 38 sales | 0 buys, 11 sales |