Semtech Corporation (SMTC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 27	$0.61	$0.71	+16.4%	—	$341.9M	—
Q1 27	$0.45	$0.51	+13.3%	—	$291M	—
Q4 26	$0.43	$0.44	+2.3%	—	$274.4M	—
Q3 26	$0.45	$0.48	+6.7%	—	$267M	—
Q2 26	$0.4	$0.41	+2.5%	—	$257.6M	—
Q1 26	$0.37	$0.38	+2.7%	—	$251.1M	—
Q4 25	$0.32	$0.4	+25.0%	—	$251M	—
Q3 25	$0.23	$0.26	+13.0%	—	$236.8M	—
Q2 25	$0.1	$0.11	+10.0%	—	$215.4M	—
Q1 25	—	$0.06	—	—	$206.1M	—
Q4 24	-$0.04	-$0.06	-50.0%	—	$192.9M	—
Q3 24	-$0.13	$0.02	+115.4%	—	$200.9M	—
Q2 24	$0.02	$0.11	+450.0%	—	$238.4M	—
Q1 24	-$0.08	$0.02	+125.0%	—	$236.5M	—
Q4 23	$0.48	$0.47	-2.1%	—	$167.5M	—
Q3 23	$0.63	$0.65	+3.2%	—	$177.6M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	-$0.46	—	—	$1B	—
FY25	—	-$2.26	—	—	$909.3M	—
FY24	—	-$17	—	—	$868.8M	—
FY23	—	$0.96	—	—	$756.5M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$544.3M	$587.8M	$627.2M	$547.5M	$595.1M	$740.9M	$756.5M	$868.8M	$909.3M	$1B
YoY change	+11%	+8.01%	+6.69%	-12.7%	+8.69%	+24.5%	+2.12%	+14.8%	+4.67%	+15.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	544.3M	587.8M	627.2M	547.5M	595.1M	740.9M	756.5M	868.8M	909.3M	1B
Cost of revenue	219.4M	235.9M	250.2M	210.8M	239.2M	279.7M	278M	572.5M	452.8M	507.8M
Gross profit	324.9M	352M	377M	336.7M	355.9M	461.1M	478.6M	296.3M	456.5M	542.1M
Gross margin	59.7%	59.9%	60.1%	61.5%	59.8%	62.2%	63.3%	34.1%	50.2%	51.6%
Research & development	102.5M	105.1M	109M	107.4M	117.5M	147.9M	166.9M	186.4M	170.9M	196.3M
Selling, general & administrative	138.7M	148.1M	145.2M	163.1M	162.8M	168.2M	224.8M	220.2M	222.4M	221.9M
Operating expenses	241.2M	253.2M	254.3M	270.5M	280.4M	316.1M	391.8M	406.7M	393.3M	418.2M
Operating income	58.4M	70.9M	96.1M	49.7M	74.9M	145M	86M	-125.3M	62.4M	123.3M
Operating margin	10.7%	12.1%	15.3%	9.07%	12.6%	19.6%	11.4%	-14.4%	6.86%	11.7%
Non-operating income, net	24M	-5.2M	-16.8M	4M	-9.6M	-3.3M	-703K	-813.3M	-145.2M	-125.5M
Pretax income	73.1M	57.8M	70.1M	44.6M	63M	139.1M	78.5M	-1B	-183.4M	-21.2M
Income tax	18.4M	22.9M	355K	12.8M	3.4M	15.5M	17.3M	50.5M	-22M	19.8M
Net income	54.7M	34.6M	69.6M	31.9M	59.9M	125.6M	61.4M	-1.1B	-161.9M	-40.4M
Net margin	10%	5.89%	11.1%	5.82%	10.1%	17%	8.11%	-125.7%	-17.8%	-3.85%
EBITDA	103.7M	123.2M	149.5M	96.5M	110.9M	180.3M	125.9M	-50.1M	92.8M	159.7M
EPS	0.84	0.55	0.96	0.48	0.92	1.94	0.96	-17	-2.26	-0.46
Diluted EPS	0.83	0.54	0.92	0.47	0.91	1.92	0.96	-17	-2.26	-0.46

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Revenue	200.9M	192.9M	206.1M	215.4M	236.8M	251M	251.1M	257.6M	267M	274.4M	291M	341.9M
Cost of revenue	107.9M	193.3M	106.5M	109.9M	115.9M	120.5M	119.8M	123.5M	128.5M	136.1M	139.6M	158.1M
Gross profit	93M	-390K	99.6M	105.5M	121M	130.5M	131.3M	134.1M	138.5M	138.3M	151.5M	183.8M
Gross margin	46.3%	-0.2%	48.3%	49%	51.1%	52%	52.3%	52.1%	51.9%	50.4%	52%	53.8%
Research & development	46.9M	41.5M	41.6M	40.1M	42.6M	46.7M	47.5M	48.2M	49.4M	51.2M	57.6M	60.6M
Selling, general & administrative	47.7M	55.2M	52.3M	55.8M	59.8M	54.5M	46.4M	58.5M	57.1M	59.8M	66.6M	67.3M
Operating expenses	94.6M	96.7M	93.9M	95.9M	102.3M	101.2M	94M	106.7M	106.5M	111M	124.2M	127.9M
Operating income	-6.5M	-97.4M	5.4M	9.3M	18.5M	29.2M	37.2M	27.3M	31.8M	27M	27M	55.5M
Operating margin	-3.22%	-50.5%	2.63%	4.32%	7.8%	11.6%	14.8%	10.6%	11.9%	9.86%	9.27%	16.2%
Non-operating income, net	-5.3M	-519M	-183K	-144.4M	805K	4.2M	-3.9M	-43.7M	-21.7M	-56.4M	-946K	247K
Pretax income	-38.6M	-645.8M	-20.3M	-166.1M	-3.6M	6.5M	27M	-22.2M	4.4M	-30.4M	25.1M	54.7M
Income tax	-311K	-3.3M	3M	4.2M	4M	-33.2M	8.7M	4.8M	7.3M	-937K	112K	-101.4M
Net income	-38.3M	-642.4M	-23.2M	-170.3M	-7.6M	39.1M	19.3M	-27.1M	-2.9M	-29.8M	26.6M	160.1M
Net margin	-19%	-332.9%	-11.2%	-79.1%	-3.2%	15.6%	7.71%	-10.5%	-1.07%	-10.9%	9.13%	46.8%
EBITDA	20M	-95.1M	18.3M	17.6M	27.4M	28.8M	46.3M	37.8M	40.7M	37.7M	38.8M	67.5M
EPS	-0.6	—	-0.36	-2.61	-0.1	0.48	0.22	-0.31	-0.03	-0.32	0.29	1.72
Diluted EPS	-0.6	—	-0.36	-2.61	-0.1	0.43	0.22	-0.31	-0.03	-0.32	0.27	1.59

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	2.2B	2.4B	3.2B	3.2B	4.6B	4.6B	2.1B	1.3B	—	—	16.3B
Enterprise value	2.1B	2.3B	3.1B	3.1B	4.5B	4.5B	3.2B	2.5B	—	—	17.3B
Shares outstanding	65.4M	66M	66M	66.3M	65.2M	64.7M	63.8M	64.1M	71.6M	88.4M	88.4M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	39.4	68.2	46	100.2	77.3	36.6	34.3	—	—	—	120.7
P/S	3.96	4.02	5.11	5.83	7.77	6.21	2.78	1.46	—	—	14.5
P/B	3.56	3.55	4.69	4.72	6.62	6.23	2.79	-4.14	—	—	29.6
EV/EBITDA	20.2	18.5	20.8	32.1	40.9	24.9	25.5	-50.3	—	—	96.7
EV/Sales	3.86	3.88	4.95	5.66	7.63	6.07	4.25	2.9	—	—	14.8
Earnings yield	2.54%	1.47%	2.17%	1%	1.29%	2.73%	2.91%	—	—	—	0.83%
FCF yield	3.93%	3.22%	5.2%	2.99%	1.86%	3.85%	4.67%	-9.83%	—	—	0.81%
PEG	—	—	—	—	—	—	—	—	—	—	-0.18

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	59.7%	59.9%	60.1%	61.5%	59.8%	62.2%	63.3%	34.1%	50.2%	51.6%	53.8%
Operating margin	10.7%	12.1%	15.3%	9.07%	12.6%	19.6%	11.4%	-14.4%	6.86%	11.7%	16.2%
Net margin	10%	5.89%	11.1%	5.82%	10.1%	17%	8.11%	-125.7%	-17.8%	-3.85%	13.1%
ROE	9.03%	5.21%	10.2%	4.71%	8.57%	17%	8.12%	355.4%	-29.8%	-7.34%	23.7%
ROA	5.4%	3.19%	6.55%	3.03%	5.53%	11.1%	2.39%	-79.5%	-11.4%	-2.86%	5.79%
ROIC	7.95%	7.34%	16.4%	6.08%	11.6%	20.3%	3.59%	-13.3%	6.67%	14.5%	13.6%
Return on tangible assets	23.9%	12.3%	24.2%	10.3%	16.8%	30.3%	-14.5%	-496%	-56.4%	-9.74%	25.6%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	3.57	3.65	3.74	4.67	4.33	3.91	1.82	2.46	2.07	2.37	1.7
Quick ratio	3.03	3.09	3.25	3.93	3.53	3.02	1.3	1.79	1.49	1.66	1.31
Debt / equity	0.4	0.34	0.31	0.29	0.26	0.24	1.78	-4.48	1.03	0.9	0.7
Debt / assets	0.24	0.21	0.2	0.19	0.17	0.16	0.52	1	0.39	0.35	0.3
Net debt / EBITDA	-0.54	-0.66	-0.68	-0.99	-0.77	-0.58	8.82	-24.9	4.24	1.89	1.56
Interest coverage	8.86	8.25	8.62	5.9	13.9	38.9	8.01	-10.1	-1.25	-0.48	7.9
Effective tax rate	25.2%	39.6%	0.51%	28.8%	5.46%	11.2%	22.1%	0%	0%	0%	0%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	8.32	8.9	9.51	8.26	9.13	11.5	11.9	13.5	12.7	11.9	12.8
EPS (basic)	0.84	0.55	0.96	0.48	0.92	1.94	0.96	-17	-2.26	-0.46	-0.46
EPS (diluted)	0.83	0.54	0.92	0.47	0.91	1.92	0.96	-17	-2.26	-0.46	1.51
Book value per share	9.25	10.1	10.3	10.2	10.7	11.4	11.9	-4.79	7.58	6.22	6.16
FCF per share	1.29	1.15	2.52	1.44	1.32	2.74	1.54	-1.95	0.61	1.87	1.82
Cash per share	4.54	4.66	4.73	4.43	4.12	4.32	3.69	2.01	2.3	2.21	2.19
Capex per share	0.5	0.53	0.26	0.34	0.5	0.4	0.44	0.45	0.11	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	6.04%	6%	2.7%	4.15%	5.44%	3.52%	3.74%	3.31%	0.85%	—	—
Capex / operating cash flow	25.4%	28.4%	10.8%	16.3%	29.4%	14%	22.6%	-3.29%	-7.79%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	0.11%

Yield

0.11%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.0063

ex-dividend Sep 5, 1980

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 5, 1980	$0.0063
Jun 6, 1980	$0.0063

Split history

Date	Ratio
Sep 26, 2000	2:1
Sep 15, 1999	2:1
Jan 13, 1998	2:1

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Revenue	$200.9M	$192.9M	$206.1M	$215.4M	$236.8M	$251M	$251.1M	$257.6M	$267M	$274.4M	$291M	$341.9M
YoY change	+13.1%	+15.2%	-12.9%	-9.66%	+17.9%	+30.1%	+21.8%	+19.6%	+12.7%	+9.3%	+15.9%	+32.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	297.1M	307.9M	312.1M	293.3M	268.9M	279.6M	235.5M	128.6M	164.5M	195.2M
Receivables	51.4M	53.2M	79.2M	61.9M	70.4M	71.5M	161.7M	134.3M	162.5M	160.6M
Inventory	65.9M	71.1M	63.7M	73M	87.5M	114M	207.7M	145M	163.6M	195.7M
Total current assets	438.4M	461.2M	485.3M	460.7M	474.7M	502.3M	722.8M	534.2M	585.5M	655.1M
Property, plant & equipment	78.6M	92.3M	118.9M	88.6M	95.8M	95.5M	122.7M	103.7M	76.3M	59.5M
Goodwill & intangibles	783M	804.2M	775.4M	742.3M	725.8M	715.9M	3B	1.2B	1.1B	995.9M
Total assets	1B	1.1B	1.1B	1.1B	1.1B	1.1B	2.6B	1.4B	1.4B	1.4B
Accounts payable	42M	37.2M	43.2M	48M	50.2M	50.7M	100.7M	45.1M	59.2M	84.1M
Short-term debt	14.4M	15.4M	18.3M	3.3M	4M	4M	49.3M	6.6M	51.6M	6.1M
Total current liabilities	123M	126.2M	129.9M	98.6M	109.6M	128.4M	396.9M	217.2M	283M	275.9M
Long-term debt	226.5M	211.1M	192.8M	194.7M	179.2M	171.7M	1.3B	1.4B	505.9M	491.2M
Total liabilities	406.3M	420.8M	380.2M	375.2M	383.1M	393.1M	1.8B	1.7B	876.8M	860.6M
Shareholders' equity	605.3M	665M	682.6M	677.2M	699M	737.8M	756M	-307.3M	542.4M	549.7M
Total debt	241M	226.5M	211.1M	198M	183.2M	175.7M	1.3B	1.4B	557.5M	497.3M
Net debt	-56.2M	-81.4M	-101M	-95.3M	-85.7M	-103.9M	1.1B	1.2B	405.8M	302.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Cash & short-term investments	123.8M	128.6M	126.8M	115.9M	136.5M	164.5M	156.5M	168.6M	164.7M	195.2M	163.3M	204.1M
Receivables	156.6M	134.3M	153.9M	153M	142.5M	162.5M	165.7M	153.5M	164.8M	160.6M	174.8M	169.9M
Inventory	160.6M	145M	148.5M	156M	163.5M	163.6M	170.2M	183.3M	185.7M	195.7M	204.7M	170.8M
Total current assets	572.4M	534.2M	539.3M	541.7M	557.8M	585.5M	598M	614.9M	620.9M	655.1M	648.7M	742.8M
Property, plant & equipment	158.8M	103.7M	-291.1M	-300.1M	-307.7M	76.3M	-318.5M	-326.1M	-333.1M	59.5M	-346.6M	-342.4M
Goodwill & intangibles	2.4B	1.2B	1.2B	1.2B	1.2B	1.1B	1.1B	1.1B	1.1B	995.9M	1.1B	1B
Total assets	2B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.6B
Accounts payable	55M	45.1M	64.7M	75.8M	63.9M	59.2M	69.1M	70.9M	75.2M	84.1M	90.3M	68.2M
Short-term debt	—	6.6M	—	—	—	51.6M	—	—	—	6.1M	—	143.4M
Total current liabilities	239M	217.2M	224.9M	224.7M	235.5M	283M	236M	243.1M	255.1M	275.9M	273.7M	437.4M
Long-term debt	1.4B	1.4B	1.4B	1.2B	1.2B	505.9M	542.6M	518.9M	490.5M	491.2M	492M	349.4M
Total liabilities	1.7B	1.7B	1.7B	1.5B	1.5B	876.8M	863.1M	853M	840.2M	860.6M	865.6M	898.2M
Shareholders' equity	334.4M	-307.3M	-313.1M	-141.4M	-139.7M	542.4M	568.8M	552.9M	565.7M	549.7M	573.3M	748.9M
Total debt	1.4B	1.4B	1.4B	1.2B	1.2B	557.5M	542.6M	518.9M	490.5M	497.3M	492M	492.7M
Net debt	1.2B	1.2B	1.2B	1.1B	1.1B	405.8M	386.2M	350.4M	325.8M	302.1M	328.7M	288.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	54.7M	34.6M	69.6M	31.9M	59.9M	125.6M	61.4M	-1.1B	-161.9M	-40.4M
Depreciation & amortization	47.1M	49M	49.6M	44M	35.9M	35.3M	36.9M	84.5M	49.4M	46.3M
Stock-based compensation	30.8M	50.1M	66.8M	52M	53M	51.2M	39.2M	40.2M	68M	57.7M
Change in working capital	-5M	-30.4M	-4.9M	13.3M	-38.2M	-27.5M	655K	36.8M	-45.2M	-21.9M
Operating cash flow	129.4M	124.2M	156.2M	139.3M	110.1M	186.1M	125.1M	-874.6M	-99.7M	181.2M
Capital expenditure	-32.9M	-35.3M	-16.9M	-22.7M	-32.3M	-26.1M	-28.3M	-28.8M	-7.8M	—
Investing cash flow	-13.5M	-65.9M	-36.2M	-34.3M	-42.9M	-40.3M	-1.2B	-20.8M	-5.5M	-23M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-1M	-14.8M	-116.2M	-70.2M	-71.4M	-129.7M	-50M	0	0	—
Financing cash flow	-205.6M	-41.5M	-159.4M	-9.1M	-125M	-185.4M	1.1B	5.5M	-26M	112.5M
Net change in cash	-89.7M	16.8M	-39.4M	95.9M	-57.7M	-39.6M	-49.6M	-889.9M	-131.2M	270.7M
Free cash flow	84.7M	76M	166.5M	95.6M	86.2M	176.9M	98.4M	-125M	43.8M	165.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Net income	-38.3M	-642.4M	-23.2M	-170.3M	-7.6M	39.1M	19.3M	-27.1M	-2.9M	-29.8M	26.6M	160.1M
Depreciation & amortization	24.2M	10.4M	11.9M	14.3M	11.5M	11.6M	11.5M	11.7M	11.5M	11.6M	10.7M	11.3M
Stock-based compensation	6.5M	11.8M	15.2M	17.1M	18.4M	17.3M	6.8M	17.3M	17.1M	16.5M	26.4M	23.8M
Change in working capital	24.6M	43.9M	7.1M	-6.1M	-13.7M	-32.5M	2.1M	-7.6M	-11.9M	-4.4M	-17.5M	-31.3M
Operating cash flow	24.4M	-587.6M	13.3M	-141.6M	11.7M	16.9M	44.1M	44.4M	47.5M	61.5M	36.2M	68.9M
Capital expenditure	-6.2M	-1.7M	-1.3M	-3.3M	-483K	-2.6M	-1.6M	—	—	—	—	—
Investing cash flow	-6.2M	4.7M	3.1M	-771K	-483K	-7.4M	-4.5M	0	1.4M	0	-29.1M	-7.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-260.4M	-18.8M	-3.4M	-1.8M	-13.1M	-653.4M	-19.4M	-28.1M	169.6M	-9.6M	-26.6M	-12.9M
Net change in cash	-242.2M	-601.7M	13M	-144.1M	-1.9M	-643.9M	20.2M	16.3M	218.5M	51.9M	-19.5M	48.9M
Free cash flow	-12.9M	11.1M	-2.7M	-12.1M	28.2M	30.5M	25.6M	39.3M	42M	58.4M	22.7M	60.7M

Semtech Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement