(CEVA) CEVA - NASDAQ
Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 1.282m USD | Total Return: 136.7% in 12m
Avg Turnover: 35.0M
Qual. Beats: 0
Rev. Trend: 40.8%
Qual. Beats: 0
Warnings
Share dilution 16.5% YoY
High Debt while negative Cash Flow
Tailwinds
Supp Ema20, Rs Leader
CEVA, Inc. is a licensor of wireless connectivity and smart sensing technologies, providing silicon and software intellectual property (IP) to semiconductor firms and original equipment manufacturers. The company’s portfolio focuses on digital signal processors (DSPs), AI processors, and platforms for 5G, Bluetooth, Wi-Fi, and Ultra-Wideband connectivity. Its solutions are integrated into diverse end-markets, including mobile, consumer electronics, automotive, and industrial IoT devices.
Operating within the semiconductor IP sector, CEVA utilizes a licensing and royalty business model. This high-margin approach allows the company to generate revenue from initial licensing fees and recurring royalties for every chip shipped containing its IP. As edge computing grows, the company has expanded into neural processing units (NPUs) to support generative and embedded AI applications directly on hardware.
Investors can further evaluate these revenue streams and market positioning by reviewing the detailed metrics on ValueRay.
Headquartered in Rockville, Maryland, CEVA maintains a global footprint with operations across Europe, Asia, and the Middle East. The company provides both hardware IP and specialized software modules, such as spatial audio and sensor fusion, to enable complex system-on-chip (SoC) designs.
- Royalty revenue growth depends on 5G infrastructure deployment and mobile handset volume
- Expansion of Bluetooth and Wi-Fi IP licensing drives short-term revenue growth
- Adoption of NeuPro-M NPU IP determines long-term positioning in edge AI markets
- High concentration of semiconductor customers in China creates significant geopolitical risk
- Shift toward royalty-heavy business model impacts quarterly earnings volatility and margins
| Net Income: -11.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -1.82 > 1.0 |
| NWC/Revenue: 225.6% < 20% (prev 172.2%; Δ 53.40% < -1%) |
| CFO/TA -0.00 > 3% & CFO -837k > Net Income -11.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 10.26 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.7m) vs 12m ago 16.47% < -2% |
| Gross Margin: 87.08% > 18% (prev 87.40%; Δ -0.32% > 0.5%) |
| Asset Turnover: 32.19% > 50% (prev 35.20%; Δ -3.01% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.65 (Total Current Assets 280.9m - Total Current Liabilities 27.4m) / Total Assets 388.2m |
| B: -0.01 (Retained Earnings -4.48m / Total Assets 388.2m) |
| C: -0.02 (EBIT TTM -5.50m / Avg Total Assets 349.1m) |
| D: 6.76 (Book Value of Equity 338.2m / Total Liabilities 50.0m) |
| Altman-Z'' = 11.24 = AAA |
| DSRI: 1.16 (Receivables 48.9m/40.8m, Revenue 112.4m/109.1m) |
| GMI: 1.00 (GM 87.40% / 87.08%) |
| AQI: 0.80 (AQ_t 0.21 / AQ_t-1 0.26) |
| SGI: 1.03 (Revenue 112.4m / 109.1m) |
| TATA: -0.03 (NI -11.8m - CFO -837k) / TA 388.2m) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of June 16, 2026, the stock is trading at USD 48.45 with a total of 956,301 shares traded.
Over the past week, the price has changed by +6.11%,
over one month by +32.70%,
over three months by +159.65% and
over the past year by +136.69%.
CEVA has received a consensus analysts rating of 4.75. Therefore, it is recommended to buy CEVA.
- StrongBuy: 7
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 43.1 | -11% |
P/E Forward = 90.0901
P/S = 11.4113
P/B = 3.7919
P/EG = 4.5127
Revenue TTM = 112.4m USD
EBIT TTM = -5.50m USD
EBITDA TTM = -1.36m USD
Long Term Debt = 14.1m USD (estimated: total debt 16.9m - short term 2.79m)
Short Term Debt = 2.79m USD (from shortTermDebt, last quarter)
Debt = 16.9m USD (from shortLongTermDebtTotal, last quarter) (leases 16.9m already included)
Net Debt = -198.8m USD (calculated: Debt 16.9m - CCE 215.7m)
Enterprise Value = 1.08b USD (1.28b + Debt 16.9m - CCE 215.7m)
Interest Coverage Ratio = unknown (Ebit TTM -5.50m / Interest Expense TTM 0.0)
EV/FCF = -188.1x (Enterprise Value 1.08b / FCF TTM -5.76m)
FCF Yield = -0.53% (FCF TTM -5.76m / Enterprise Value 1.08b)
FCF Margin = -5.13% (FCF TTM -5.76m / Revenue TTM 112.4m)
Net Margin = -10.47% (Net Income TTM -11.8m / Revenue TTM 112.4m)
Gross Margin = 87.08% ((Revenue TTM 112.4m - Cost of Revenue TTM 14.5m) / Revenue TTM)
Gross Margin QoQ = 85.76% (prev 88.08%)
Tobins Q-Ratio = 2.79 (Enterprise Value 1.08b / Total Assets 388.2m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 16.9m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -4.34m (EBIT -5.50m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.26 (Total Current Assets 280.9m / Total Current Liabilities 27.4m)
Debt / Equity = 0.05 (Debt 16.9m / totalStockholderEquity, last quarter 338.2m)
Debt / EBITDA = 146.2 (negative EBITDA) (Net Debt -198.8m / EBITDA -1.36m)
Debt / FCF = 34.50 (negative FCF - burning cash) (Net Debt -198.8m / FCF TTM -5.76m)
Total Stockholder Equity = 302.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.37% (Net Income -11.8m / Total Assets 388.2m)
RoE = -3.89% (Net Income TTM -11.8m / Total Stockholder Equity 302.3m)
RoCE = -1.74% (EBIT -5.50m / Capital Employed (Equity 302.3m + L.T.Debt 14.1m))
RoIC = -1.21% (negative operating profit) (NOPAT -4.34m / Invested Capital 358.0m)
WACC = 15.05% (E(1.28b)/V(1.30b) * Re(15.25%) + D(16.9m)/V(1.30b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 15.25% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 64.44 | Cagr: 6.65%
[DCF] Fair Price = unknown (Cash Flow -5.76m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.32 | # QB: 0
Revenue Correlation: 40.80 | Revenue CAGR: 2.72% | SUE: 0.49 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.07 | Chg30d=-11.18% | Revisions=-11% | Analysts=8
EPS next Quarter (2026-09-30): EPS=0.17 | Chg30d=+0.90% | Revisions=+43% | Analysts=8
EPS current Year (2026-12-31): EPS=0.53 | Chg30d=+6.33% | Revisions=+64% | GrowthEPS=+26.3% | GrowthRev=+11.9%
EPS next Year (2027-12-31): EPS=0.82 | Chg30d=+2.71% | Revisions=+40% | GrowthEPS=+55.2% | GrowthRev=+13.9%
[Analyst] Revisions Ratio: +64%