Silicon Motion Technology CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Silicon Motion Technology 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	556	523	530	457	540	922	946	639	804	886
Cost of revenue	282	272	270	235	279	461	480	369	435	458
Gross profit	275	251	261	222	260	461	466	270	369	428
Research and development	92.4	102	102	110	122	164	189	174	218	263
Selling and marketing	25.8	25.9	29.3	25.1	24.8	28.8	31.5	26.9	27.5	34.4
General and administrative	17.1	16.9	17.6	17.9	15.6	21.8	31.4	27.9	31.4	37.4
Operating expenses	137	156	156	170	180	215	252	231	278	334
Operating income	137	95.3	105	52.1	80.5	246	214	39.9	90.9	93
Interest expense	0.13	0.42	0.38	0	0.01	0	0.07	0	0
Interest income	2.16	4.27	6.3	6.75	4.64	1.28	2.71	12.2	14.5	9.66
Other non-operating income	1.37	3.65	5.03	19.9	5.08	1.4	-1.35	21.2	16.5	47.1
Pre-tax income	139	99	110	72.1	85.6	247	213	61	107	140
Income tax	27.7	24	11.8	7.68	5.81	47.3	40.1	8.18	18.2	17.5
Net income	111	75	98.1	64.4	79.7	200	173	52.9	89.2	123
EBITDA	147	106	117	64.6	94	263	233	61.7	116	123
EPS, basic	0.79	0.53	0.68	0.46	0.57	1.43	1.30	0.40	0.66	0.91
EPS, diluted	0.78	0.52	0.68	0.46	0.57	1.43	1.29	0.40	0.66	0.91
Shares, basic (weighted)	141	143	144	141	139	139	133	133	135	134
Shares, diluted (weighted)	142	144	145	141	140	140	134	134	135	135
Dividend per share	0.20	0.30	0.30	0.35	0.35	0.50		0.50	0.50	0.50

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	274	359	285	323	343	360	232	314	276	202
Short-term investments	3.3	6.94	3.61	2.01
Receivables	73.6	79.1	91.8	109	116	209	206	195	234	212
Inventory	24.8	41.4	26.1	26.3	11	39.9	98.3	61.3	51.1	71.8
Other current assets	5.87	9.57	6.88	8.36	13.9	37.8	12.2	17.6	31.2	36.9
Total current assets	477	569	498	565	618	818	788	793	795	943
Property, plant and equipment	47.9	51.4	101	98.5	105	124	139	167	188	219
Lease right-of-use assets				8.6	6.7	5.62	8.15	14.1	14.7	13.2
Goodwill	68.7	59	58.3	17.5	0
Intangible assets	5.23	7.43	1.02
Long-term investments	0.12		4.24	3	5	8.54	9.27	17.1	17.3	29.7
Total assets	606	694	673	698	742	971	961	1,008	1,031	1,223
Accounts payable	31.7	56.4	27.7	30.7	44.5	80.8	36	55.6	17.8	34.7
Deferred revenue						2.4	6.91	3.66	5.03	82.1
Short-term debt	0.24	0.57	0.32					0
Total current liabilities	146	177	114	131	159	282	184	213	200	340
Long-term debt	0.37	0.11
Lease liabilities				5.62	3.88	2.99	4.91	12.7	12.4	11.5
Other non-current liabilities	16.9	22.3	26.7	29.5	25.6	32.2	44.8	60.5	59.5	52.5
Total liabilities	163	200	140	161	184	314	229	273	259	392
Total debt	0.61	0.67	0.32
Paid-in capital	227	242	263	265	275	295	304	321	338	360
Retained earnings	216	247	302	271	282	412	425	411	433	468
Treasury stock			-34.8			-50
Other comprehensive income	-1.03	2.64	0.5	-0.79	-0.35	-0.54	2.6	1.15	0.34	1.34
Shareholders' equity	443	494	532	537	558	658	733	735	772	831
Total equity	443	494	532	537	558	658	733	735	772	831
Total liabilities and equity	606	694	673	698	742	971	961	1,008	1,031	1,223
Shares outstanding	141	143	145	139	138	140	132	134	135	134

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	111	75	98.1	64.4	79.7	200	173	52.9	89.2	123
Depreciation and amortization	9.48	10.6	11.8	12.4	13.6	17.2	18.9	21.8	25.3	30.2
Stock-based compensation	17.4	15.5	20.8	14.6	14.6	19.5	26.7	17.5	17	26.3
Deferred income tax	-3.37	0.58	-1.66	1.12	-0.67	-1.74	-2.53	0.43	-0.42	-0.17
Change in inventory	-24.8	-22.3	12.7	-10.2	-21.7	-78.1	-103	72.1	4.87	-215
Change in payables	12.2	0.46	-4.68	10.6	7.33	26.4	0.68	-1.63	12.8	108
Cash from operations	126	104	108	77.7	117	175	83.9	149	77.1	61.4
Capital expenditures	-12.2	-11.7	-74.9	-11	-19.5	-24.7	-32.9	-50.3	-44.4	-55.1
Acquisitions		-2.87
Cash from investing	-8.22	-14.5	-79.6	34.7	-21.5	-28.2	-32.9	-49.1	-44.1	-27.4
Stock issued	0.09	0.38	0	0
Share buybacks			-33.5	-26.2	-25	-45.7	-133	0	0	-24.3
Dividends paid	-22.9	-32.1	-43.3	-44	-48.9	-54	-49.9	-16.7	-67.3	-67.2
Cash from financing	2.19	-31.7	-102	-70.3	-73.9	-99.7	-183	-16.7	-67.3	-91.5
Exchange rate effect	-0.52	2.75	-1.25	-0.98	-0.81	-0.49	3.68	-1.37	-0.41	0.3
Net change in cash	120	57.6	-73.1	42.1	21.8	46.8	-132	83.3	-34.2	-57.6
Free cash flow	113	92.2	33.4	66.7	97.7	150	51	98.8	32.7	6.3
Interest paid	0.11	0.37	0.38		0.01	0	0.07	0	0
Income taxes paid	24.3	30.9	13.8	5.61	8.52	3.52	34	36.3	10.1	16.7

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $276.23 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	48.3%	Gross profit / revenue.
Operating margin	10.5%	Operating income / revenue.
EBITDA margin	13.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.8%	Pre-tax income / revenue.
Net margin	13.8%	Net income / revenue.
FCF margin	0.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.9%	Cash from operations / revenue.
Effective tax rate	12.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.9%	Net income / average total assets.
Return on invested capital (ROIC)	14.5%	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	29.7%	Research and development expense / revenue.
Stock-based pay / revenue	3.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.2%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	15.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-2.8%	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	10.4%	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	2.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-24.2%	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	2.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	6.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-19.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	5.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	37.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-10.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	9.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	37.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-11.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	9.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-9.9%	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	-12.1%	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	-80.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-50.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-42.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 5y	7.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.3%	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	8.3%	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	18.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.4%	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	10.5%	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	-0.1%	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	0.3%	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	-0.8%	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	2.78x	Current assets / current liabilities.
Quick ratio	1.22x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.59x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	32.1%	Total liabilities / total assets.
Working capital	$603.8M	Current assets - current liabilities.
Tangible book value	$830.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.79x	Revenue / average total assets.
Fixed asset turnover	4.35x	Revenue / average property, plant and equipment.
Inventory turnover	7.45x	Cost of revenue / average inventory.
Days inventory	49 days	365 x average inventory / cost of revenue.
Receivables turnover	3.98x	Revenue / average receivables.
Days sales outstanding	92 days	365 x average receivables / revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	120 days	Days inventory + days sales outstanding - days payables.
FCF conversion	5.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	89.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.91	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	$0.91	Net income per basic share, as reported (split-adjusted).
Revenue per share	$6.57	Revenue / diluted weighted shares.
FCF per share	$0.05	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.46	Cash from operations / diluted weighted shares.
Book value per share	$6.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.19	Tangible book value / shares outstanding.
Cash per share	$1.50	(Cash + short-term investments) / shares outstanding.
Dividend per share	$0.50	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	54.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	1,068.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	386.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$9.37B	Share price x shares outstanding.
Enterprise value	$9.16B	Market cap + total debt - cash - short-term investments.
P/E	76.4x	Market cap / net income. Only when net income is positive.
P/S	10.6x	Market cap / revenue.
P/B	11.3x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	11.3x	Market cap / tangible book value, when positive.
P/FCF	1,488x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	153x	Market cap / cash from operations, when positive.
EV/Sales	10.3x	Enterprise value / revenue.
EV/EBIT	98.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	74.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	1,456x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.1%	Free cash flow / market cap.
Earnings yield	1.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.7%	Dividends paid over the period / market cap.
Shareholder yield	1.0%	(Dividends paid + share buybacks) / market cap.

What was Silicon Motion Technology CORP's revenue in fiscal 2025?

Silicon Motion Technology CORP reported revenue of $885.6M for fiscal 2025, 10.2% higher than the year before.

Was Silicon Motion Technology CORP profitable in fiscal 2025?

Yes. Net income was $122.6M, a net margin of 13.8%.

How much free cash flow did Silicon Motion Technology CORP generate in fiscal 2025?

Cash from operations of $61.4M minus capital expenditures of $55.1M left free cash flow of $6.3M.

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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