Is the business good?
How good a business is CEVA?
CEVA, Inc. earns −6.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−6.1%
Return on invested capital · cost of capital 9.0% · 15 points below what the capital costs: growth destroys value
- Operating margin
- −8.3%
Operating margin · Semiconductors median 8.5% · 12 months to Q2 2026
- R&D as % of revenue
- 67%
R&D as % of revenue
- Gross margin
- 87%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −0.76% |
| FY2021 | 6.2% |
| FY2022 | 3.2% |
| FY2023 | −14% |
| FY2024 | −7.1% |
| FY2025 | −10% |
Details›
- Gross margin12 months to Q2 2026
- 87%
- Operating margin12 months to Q2 2026
- −8.3%
- Net margin12 months to Q2 2026
- −9.5%
- Free cash flow margin
- −0.92%
- R&D as % of revenue
- 67%
- Revenue, trailing twelve months
- $116M
- Free cash flow, trailing twelve months
- −$1.1M
- Net income, trailing twelve months
- −$11M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −6.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.