SMTCNasdaqSemiconductors & Related DevicesFiscal year ends January 31
SEMTECH CORP
Financials through Q1 FY2026, quarter ended Apr 26, 2026Last filing: 10-Q on Aug 26, 2026
$142.22+5.49 (+4.02%)
Close on Oct 19, 2026
- Market cap
- $13.94B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
51.6%−8.2 pts over 5 years
Operating margin
3.1%−9.5 pts over 5 years
Net margin
-3.8%−13.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.5% | +11.5% | +12.0% | +7.9% | |
| Gross profit | +18.8% | +4.2% | +8.8% | +6.3% | |
| Operating income | -34.8% | -29.5% | -15.4% | +0.8% | |
| Free cash flow | +241.9% | +20.3% | +14.7% | +6.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 8.7% | -7.4% | |
| Return on assets | – | 5.6% | -2.9% | |
| Current ratio | 3.57 | 4.33 | 2.37 | |
| Debt to equity | – | 0.26 | 0.89 | |
| Net debt to EBITDA | -0.43× | – | – | |
| Interest coverage | – | 14.0× | 0.8× | |
| Inventory turnover | 3.4× | 3.0× | 2.8× | |
| Capex to revenue | 6.0% | 5.5% | 0.9% | |
| Diluted shares | 66M | 66M | 88M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Semtech generated $662.91M from operations and spent $281.08M on capital expenditure, dividends and share buybacks. 36% of that went back into the business.
Generated
$662.91M
Used
$281.08M
Capital expenditure$101.33M36%Dividends$00%Share buybacks$179.75M64%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.8%
×Asset turnover0.74×
×Equity multiplier2.59×
=Return on equity, FY2025-7.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -3.8% | 0.74× | 2.59× | -7.4% |
| FY2024 | -17.8% | 0.65× | 11.89× | -137.8% |
| FY2023 | -125.7% | 0.44× | 8.79× | -487.1% |
| FY2022 | 8.1% | 0.41× | 2.48× | 8.2% |
| FY2021 | 17.0% | 0.67× | 1.54× | 17.5% |
| FY2020 | 10.1% | 0.56× | 1.55× | 8.7% |
| FY2019 | 5.8% | 0.52× | 1.56× | 4.7% |
| FY2018 | 11.1% | 0.58× | 1.59× | 10.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$40.38M
- Cash generatingOperating cash flow above zero$181.17M
- Return on assets improvedROA up on the prior year-11.8% → -2.8%
- Earnings backed by cashOperating cash flow above net income$181.17M vs -$40.38M
- Less leverageLong-term debt to assets fell35.6% → 34.8%
- Better liquidityCurrent ratio rose2.07 → 2.37
- No dilutionShare count did not rise72M → 88M
- Gross margin improvedGross margin up on the prior year50.21% → 51.63%
- More efficientAsset turnover rose0.66 → 0.74