NVTSNavitas Semiconductor Corporation
Is the business good?
More warning than reassurance: 1 of 9 health tests passed and margins compressing.
Weak, deteriorating fundamentals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is NVTS?
Navitas Semiconductor Corporation earns −37% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 46 points below what the capital costs: growth destroys value
- Operating margin
- −317%
Operating margin · Semiconductors median 7.5% · 12 months to Q2 2026
- Share count, year on year
- +21%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 146%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −159% |
| FY2021 | −289% |
| FY2022 | −326% |
| FY2023 | −149% |
| FY2024 | −157% |
| FY2025 | −235% |
Details›
- Gross margin12 months to Q2 2026
- 38%
- Operating margin12 months to Q2 2026
- −317%
- Net margin12 months to Q2 2026
- −857%
- Free cash flow margin
- −186%
- R&D as % of revenue
- 146%
- Revenue, trailing twelve months
- $37M
- Free cash flow, trailing twelve months
- −$68M
- Net income, trailing twelve months
- −$313M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −37%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.