Rankings Semiconductors Navitas Semiconductor
Navitas Semiconductor
45
15070100
A view of the same findings, not a new score. How it works
The model found several serious problems. That does not mean the stock will fall.
Biggest deductions
- Multiples vs own history−22
- Margin−10
- Quality of growth−6
Strengths
- Net cash+3
How the score is built
From 100 to 45, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 7.93 USD
- Median analyst target
- 13.00 USD
- Upside to median
- +63.9%
- Analysts
- 7
- Target range
- 8.00 – 21.00 USD
- 52-week change
- −41%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−21 of −30
- −10MarginOperating margin −252% (TTM) and an operating loss of $92m on revenue of $36.5m. The non-GAAP gross margin is 39.5%, but the GAAP gross margin was only 0.4% in Q2, and the company has lost money on operations every year since the IPO.
- −6Quality of growthRevenue has fallen from $83.3m in 2024 to $45.9m in 2025 and $36.5m (TTM), as the company exits mobile chargers to focus on AI and power grids. Q2 ($10.5m) was still below Q2 2025 ($14.5m), and the transition is not yet proven in the figures.
- −5Capital allocation and dilutionShare count has risen 20% over a year (+4.6% in the latest quarter); shares were issued for 482m $ (TTM), and stock-based compensation was 27m $ - 74% of revenue. The cash pile was built with shareholders' money, not with operations.
Price
Today's multiples against the company's own history and its peers. · 2 findings−25 of −35
- −22Multiples vs own historyP/S 77 and EV/Sales 62 versus 8-36 and 7-33 in 2022-2025; only the SPAC bubble in 2021 was more expensive. Even on analysts' 2027 revenue (USD 74m), EV/Sales is about 30. Market cap is USD 2.8bn for a company with declining revenue and no profit.
- −3FCF yieldNegative FCF of -$68m (TTM) and negative FCF every year since 2021; no FCF yield to measure the price against.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−10 of −35
- −5Execution of the AI transitionThe Nvidia cooperation on 800 V HVDC consists of demonstrations and design-ins; according to the Q2 announcement, 'selected hyperscalers and XPU platforms' will only ramp in 2027. The entire valuation rests on design wins that are not yet revenue.
- −2Governance and earnout disputeA long-running dispute with the SPAC sponsor Live Oak over the earn-out has been settled, and the final revaluation of the earn-out liability cost $203m (non-cash) in Q2 – in effect a transfer of value to the sponsor and early shareholders.
- −3Volatility and sentimentBeta 3.96 and 16.6% of the free float is sold short. Consensus among 8 analysts is 'Hold', and the lowest price target is 8 $ (-26%).
Plus
Only documented strengths. · 1 finding+3 of +15
- +3Net cashCash of $557.4m against debt of $5.1m gives net cash of $552m (about 20% of market cap), equal to many years of spending at the current cash burn of about $68m a year.
Caveats
What the score does not capture, or where the data is weak.
Loss-making company with only USD 36.5m in TTM revenue; hence no P/E history, and T2 is based on P/S and EV/Sales. The GAAP loss of USD 313m (TTM) is dominated by a non-cash revaluation of earn-out liabilities (USD 203m in Q2). The share from AI data centres is not disclosed; management merely expects AI infrastructure (data centres + power grid) to be above a third of sales by year-end. Insider trading and competition from Chinese GaN producers (Innoscience) have not been investigated, and no Navitas news from September-October 2026 was found. The Q3 report is expected around 9 Nov 2026.
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