Knowles Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Knowles Corp 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	756	744	827	855	764	868	479	457	554	593
Cost of revenue	458	453	504	525	491	509	252	252	317	333
Gross profit	296	286	323	328	271	360	227	204	235	256
Research and development	92	93.4	101	96.8	92.9	92.8	29.3	32.4	39.5	40.2
Selling, general and administrative	150	127	143	146	132	146	106	126	142	143
Operating expenses	251	246	245	247	242	244	136	160	183	186
Operating income	45	39.9	77.8	81.2	29.2	116	90.8	43.4	51.8	70.3
Interest expense								1.3	7.5	4.2
Other non-operating income	3.5	0.1	-0.7	-0.4	-1.5	3	0.4	-0.7	-0.8	-3.2
Pre-tax income	28.1	19.4	61.1	66.3	11.3	105	87.7	37.3	34.7	64
Income tax	8.3	12.9	-4.5	16.6	8.4	-45.6	21.3	-28.3	11.3	13.1
Income from continuing operations	19.8	6.5	65.6	49.7	2.9	150	66.4	65.6	23.4	50.9
Net income	-42.3	68.3	67.7	49.1	6.6	150	-430	72.4	-238	44.2
EBITDA	119	97.2	130	136	89.8	178	145	89.9	102	107
EPS, basic	-0.48	0.76	0.75	0.54	0.07	1.63	-4.69	0.80	-2.67	0.51
EPS, diluted	-0.47	0.75	0.74	0.53	0.07	1.59	-4.63	0.79	-2.64	0.50
Shares, basic (weighted)	88.7	89.3	90.1	91.2	91.7	92.3	91.7	90.9	88.9	86.4
Shares, diluted (weighted)	89.2	90.5	91.2	93.4	92.9	94.7	92.8	91.6	90.1	88

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	63.4	112	73.5	78.4	148	68.9	48.2	87.3	130	54.2
Receivables	126	138	140	160	131	147	135	90.7	105	103
Inventory	90.8	126	140	142	130	153	170	127	118	125
Other current assets	10.3	19.9	11.1	8.6	10.3	11.7	10	6.9	8.3	9.8
Total current assets	291	395	365	388	420	380	362	429	361	291
Property, plant and equipment	173	183	212	207	192	201	162	143	130	140
Lease right-of-use assets			0	33.6	23.3	17.4	12.6	13.1	8.6	19.1
Goodwill	872	885	888	910	910	941	201	271	270	270
Intangible assets	73.8	53.5	56.7	91.7	78.7	97.3	85.1	176	157	141
Long-term investments								0	77.2	83.4
Other non-current assets	25.7	31.8	26.6	24.5	31.8	94.5	91	114	114	106
Total assets	1,515	1,550	1,548	1,655	1,655	1,732	1,184	1,463	1,118	1,051
Accounts payable	65.5	85.6	77.2	87.7	70.3	90.9	41.4	35.9	58.5	42.9
Accrued liabilities	31.4	31.2	40.2	32.1	30.4	42.8	26.9	25	29.4	29.7
Short-term debt	9.7	0	0	0	165	0	0	47.1	68.5	0
Total current liabilities	132	152	142	152	297	166	99.1	165	198	106
Long-term debt	289	193	158	157	0	70	45	224	134	114
Lease liabilities			0	25.1	18.7	14.7	7.2	8.2	5.8	16.1
Other non-current liabilities	40.6	67.9	34.3	29.9	32.8	20.6	38.8	29.3	23.7	38.2
Total liabilities	507	418	336	366	351	272	191	429	362	275
Total debt	298	193	158	157	165	70	45	271	203	114
Paid-in capital	1,500	1,523	1,546	1,575	1,588	1,639	1,666	1,690	1,712	1,740
Retained earnings	-360	-292	-224	-175	-169	-18.1	-448	-376	-614	-569
Treasury stock				0	-16.2	-62.4	-103	-151	-205	-271
Other comprehensive income	-132	-100	-111	-112	-101	-100	-122	-130	-138	-125
Shareholders' equity	1,008	1,132	1,212	1,289	1,304	1,460	993	1,034	756	776
Total equity	1,008	1,132	1,212	1,289	1,304	1,460	993	1,034	756	776
Total liabilities and equity	1,515	1,550	1,548	1,655	1,655	1,732	1,184	1,463	1,118	1,051
Shares outstanding					91.6	91.9	91.1	89.1	87.4	84.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-42.3	68.3	67.7	49.1	6.6	150	-430	72.4	-238	44.2
Depreciation and amortization	73.7	57.3	52.4	54.4	60.6	62.5	53.9	46.5	50.3	36.3
Stock-based compensation	21.5	25.1	27	25.2	17.3	32.1	28.6	29	22.8	28.4
Deferred income tax	1.4	-27.8	8.8	-0.2	-2.8	-61.1	5.8	-41.9	5.9	6.5
Change in receivables	35.9	2.4	-0.3	-17.8	29	-12.3	11.1	12.7	4	1.1
Change in inventory	21.9	-34	-15.7	-0.3	16.7	-20.7	-22.8	11.5	1.6	-5.1
Change in payables	-26.6	4.9	-6.3	12.1	-17.5	17.2	-41.2	6.2	25	-18
Capital expenditures	-38.7	-51.6	-80.1	-41.2	-31.9	-48.6	-32.1	-16.9	-13.6	-32.1
Acquisitions	0	-2.5	-18	-69.3	0	-78.5	-0.7	-137	0	0
Purchases of investments	0
Sales and maturities of investments	2	0	0
Cash from investing	5.9	69.5	-88	-111	-35.1	-130	-32.7	-142	45.2	-31.6
Debt issued	0
Debt repaid	-167	-119	0	0
Stock issued	0	3.3	0.5	9.8	1.8	25.6	7.5	1.6	5.8	6.7
Share buybacks			0	0	-16.2	-44.5	-44	-47.5	-53.7	-65
Cash from financing	-110	-118	-48.6	-8.5	-23.9	-131	-73.2	58.2	-132	-159
Exchange rate effect	-0.6	1	-0.1	0	0.3	0	-1.1	-0.2	-0.5	0.6
Net change in cash	2.9	45.5	-38.2	4.9	69.4	-78.9	-20.7	39.1	42.8	-75.9
Interest paid	12.2	11.3	9	7.5	8.1	7.4	3.6	5.4	12	8.3
Income taxes paid	4.2	13.1	18	12.1	16.8	16.1	6.2	10.6	14.9	8.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $37.53 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.0%	Gross profit / revenue.
Operating margin	13.4%	Operating income / revenue.
EBITDA margin	18.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	12.1%	Pre-tax income / revenue.
Net margin	9.1%	Net income / revenue.
Effective tax rate	15.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.3%	Net income / average total assets.
Return on invested capital (ROIC)	8.0%	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	6.9%	Research and development expense / revenue.
SG&A / revenue	23.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	4.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.3%	Capital expenditures / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-4.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-1.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	35.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-8.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	19.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	4.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y	46.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y	48.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.9%	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	-9.9%	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	-6.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.9%	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	-8.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.27x	Current assets / current liabilities.
Quick ratio	1.65x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.45x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.17x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	12.4%	Total debt / total assets.
Liabilities / assets	26.0%	Total liabilities / total assets.
Net debt	$90.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.81x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$206.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	38.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$372.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	4.24x	Revenue / average property, plant and equipment.
Receivables turnover	5.62x	Revenue / average receivables.
Days sales outstanding	65 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.64	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.
Revenue per share	$7.00	Revenue / diluted weighted shares.
Book value per share	$9.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.36	Tangible book value / shares outstanding.
Cash per share	$0.48	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.21B	Share price x shares outstanding.
Enterprise value	$3.30B	Market cap + total debt - cash - short-term investments.
P/E	57.3x	Market cap / net income. Only when net income is positive.
P/S	5.22x	Market cap / revenue.
P/B	4.11x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.60x	Market cap / tangible book value, when positive.
EV/Sales	5.37x	Enterprise value / revenue.
EV/EBIT	40.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	29.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	1.7%	Net income / market cap (the inverse of P/E).
Shareholder yield	2.1%	(Dividends paid + share buybacks) / market cap.

What was Knowles Corp's revenue in fiscal 2025?

Knowles Corp reported revenue of $593.2M for fiscal 2025, 7.2% higher than the year before.

Was Knowles Corp profitable in fiscal 2025?

Yes. Net income was $44.2M, a net margin of 7.5%.

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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