GLOBALFOUNDRIES Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data GLOBALFOUNDRIES Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	5,813	4,851	6,585	8,108	7,392	6,750	6,791
Cost of revenue	6,345	5,563	5,572	5,869	5,291	5,099	5,101
Gross profit	-532	-712	1,013	2,239	2,101	1,651	1,690
Research and development	583	476	478	482	428	496	518
Selling, general and administrative	446	445	595	496	473	427	375
Operating income	-1,625	-1,656	-60	1,167	1,129	-214	797
Interest expense	230	154	114	111	137	145	93
Interest income	11.4	3	6	51	149	201	159
Pre-tax income	-1,147	-1,365	-176	1,532	1,084	-170	911
Income tax	224	-12	78	86	66	92	23
Net income to minority interests	0	-3	-4	-2	-2	3	3
Net income	-1,371	-1,350	-250	1,448	1,020	-265	885
EBITDA	757	531	1,362	2,635	2,450	1,210	1,965
EPS, basic	-2.72	-2.70	-0.49	2.69	1.85	-0.48	1.59
EPS, diluted	-2.72	-2.70	-0.49	2.62	1.83	-0.48	1.59

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	997	908	2,939	2,352	2,387	2,192	1,809
Inventory		920	1,121	1,339	1,487	1,624	1,577
Total current assets		2,987	5,291	5,800	6,327	6,416	6,205
Property, plant and equipment		8,226	8,713	10,596	9,829	7,762	7,223
Lease right-of-use assets	348	292	305	282	335	498	569
Total assets		12,322	15,028	17,841	18,044	16,799	17,141
Accounts payable		1,342	2,586	2,849	2,349	2,109	2,154
Total current liabilities		1,896	3,163	3,359	3,099	3,044	2,368
Lease liabilities		333	291	270	350	424	487
Total liabilities		5,080	6,995	7,881	6,893	5,975	5,158
Total debt	2,729	2,338	2,013	2,511	2,372	1,806	1,151
Retained earnings		-15,219	-15,469	-14,021	-13,001	-13,266	-12,381
Shareholders' equity		7,176	7,975	9,913	11,104	10,776	11,928
Minority interests		65.1	58	47	47	48	55
Total equity	9,020	7,241	8,033	9,960	11,151	10,824	11,983
Total liabilities and equity		12,322	15,028	17,841	18,044	16,799	17,141

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-1,371	-1,353	-254	1,446	1,018	-262	888
Depreciation and amortization	2,382	2,187	1,422	1,468	1,321	1,424	1,168
Cash from operations	497	1,004	2,839	2,624	2,125	1,722	1,731
Capital expenditures	-588	-592	-1,767	-3,059	-1,804	-625	-722
Cash from investing	344	-366	-1,450	-4,058	-1,882	-1,125	-1,274
Debt issued	2,815	2,801	617	971	46	31	20
Debt repaid	-247	-112	0	0
Share buybacks				0	0	-200	0
Cash from financing	-684	-733	650	842	-212	-785	-845
Exchange rate effect	-3.4	6	-8	5	4	-7	5
Net change in cash	153	-89	2,031	-587	35	-195	-383
Free cash flow	-91.1	412	1,072	-435	321	1,097	1,009
Interest paid	196	146	101	96	121	118	59
Income taxes paid				4	11	31	19

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $49.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.9%	Gross profit / revenue.
Operating margin	11.7%	Operating income / revenue.
EBITDA margin	28.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.4%	Pre-tax income / revenue.
Net margin	13.0%	Net income / revenue.
FCF margin	14.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	25.5%	Cash from operations / revenue.
Effective tax rate	2.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.2%	Net income / average total assets.
Return on invested capital (ROIC)	7.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	7.6%	Research and development expense / revenue.
SG&A / revenue	5.5%	Selling, general and administrative expense / revenue.
Capex / revenue	10.6%	Capital expenditures / revenue.
D&A / revenue	17.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	2.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-9.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 3y	-11.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	62.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	29.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-15.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y	-15.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	0.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-8.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	19.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.62x	Current assets / current liabilities.
Quick ratio	0.76x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.76x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.10x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	6.7%	Total debt / total assets.
Liabilities / assets	30.1%	Total liabilities / total assets.
Net debt	-$658.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.33x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.57x	Operating income / interest expense.
Working capital	$3.84B	Current assets - current liabilities.
Tangible book value	$11.93B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.40x	Revenue / average total assets.
Fixed asset turnover	0.91x	Revenue / average property, plant and equipment.
Inventory turnover	3.19x	Cost of revenue / average inventory.
Days inventory	115 days	365 x average inventory / cost of revenue.
Days payables	153 days	365 x average accounts payable / cost of revenue.
FCF conversion	114.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	41.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.59	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$1.59	Net income per basic share, as reported (split-adjusted).
Buybacks / FCF	0.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$27.26B	Share price x shares outstanding.
Enterprise value	$26.61B	Market cap + total debt - cash - short-term investments.
P/E	30.8x	Market cap / net income. Only when net income is positive.
P/S	4.01x	Market cap / revenue.
P/B	2.29x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.29x	Market cap / tangible book value, when positive.
P/FCF	27.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.8x	Market cap / cash from operations, when positive.
EV/Sales	3.92x	Enterprise value / revenue.
EV/EBIT	33.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	13.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	26.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.7%	Free cash flow / market cap.
Earnings yield	3.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was GLOBALFOUNDRIES Inc.'s revenue in fiscal 2025?

GLOBALFOUNDRIES Inc. reported revenue of $6.79B for fiscal 2025, 0.6% higher than the year before.

Was GLOBALFOUNDRIES Inc. profitable in fiscal 2025?

Yes. Net income was $885.0M, a net margin of 13%.

How much free cash flow did GLOBALFOUNDRIES Inc. generate in fiscal 2025?

Cash from operations of $1.73B minus capital expenditures of $722.0M left free cash flow of $1.01B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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