SKYWORKS SOLUTIONS, INC. financial statements

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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,289	3,651	3,868	3,377	3,356	5,109	5,486	4,772	4,178	4,087
Cost of revenue	1,624	1,810	1,917	1,773	1,743	2,597	2,881	2,665	2,457	2,405
Gross profit	1,665	1,842	1,951	1,604	1,613	2,512	2,604	2,107	1,721	1,682
Research and development	312	355	405	424	464	532	618	607	632	786
Selling, general and administrative	196	205	208	198	231	323	330	314	301	372
Operating expenses	547	588	631	652	721	900	1,077	982	1,083	1,182
Operating income	1,119	1,254	1,319	952	892	1,613	1,527	1,125	637	500
Interest expense				0	0	-13.4	47.9	64.4	30.7	27.1
Interest income				18.8	9.6	1.2
Other non-operating income	-6.6	3.2	12.8	9	-0.1	-0.6	-2.5	18.2	29.7	53.8
Pre-tax income	1,201	1,257	1,332	961	892	1,599	1,477	1,079	636	527
Income tax	205	247	414	107	76.9	100	201	96	40.4	49.6
Net income	995	1,010	918	854	815	1,498	1,275	983	596	477
EBITDA	1,333	1,481	1,592	1,267	1,210	1,945	1,921	1,513	902	779
EPS, basic	5.27	5.48	5.06	4.92	4.84	9.07	7.85	6.17	3.72	3.09
EPS, diluted	5.18	5.41	5.01	4.89	4.80	8.97	7.81	6.13	3.69	3.08
Shares, basic (weighted)	189	184	181	174	169	165	162	159	160	154
Shares, diluted (weighted)	192	187	183	175	170	167	163	160	162	155
Dividend per share	1.06	1.16	1.34	1.58	1.82	2.06	2.30	2.54	2.74	2.81

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,084	1,617	733	851	567	883	566	719	1,369	1,161
Short-term investments		0	294	203	408	137	20.3	15.6	194	213
Receivables	417	455	656	465	359	756	1,094	864	509	598
Inventory	424	494	490	610	806	885	1,212	1,120	785	755
Other current assets	77.7	68.7	88.8	105	178	204	338	461	485	350
Total current assets	2,002	2,634	2,262	2,235	2,318	2,865	3,230	3,180	3,341	3,077
Property, plant and equipment	806	882	1,141	1,206	1,250	1,502	1,605	1,390	1,280	1,195
Lease right-of-use assets				0	168	166	223	205	192	192
Goodwill	873	883	1,190	1,190	1,190	2,177	2,177	2,177	2,177	2,177
Intangible assets	67	67.8	144	108	53.5	1,699	1,445	1,222	901	809
Long-term investments		0	22.8	27.6	5.2	7.1	0.5	4.1	11.4	14.2
Other non-current assets	52.6	40.3	33	33.3	67.9	55.7	142	56.5	78.3	77.5
Total assets	3,855	4,574	4,829	4,840	5,107	8,591	8,874	8,427	8,283	7,917
Accounts payable	110	258	230	191	227	236	274	159	172	236
Accrued liabilities	42.3	68.1	85.2	76	114	135	114	94.3	128	181
Short-term debt						0	499	299	0	499
Total current liabilities	210	388	390	374	448	659	1,227	956	603	1,323
Lease liabilities				0	151	145	207	189	186	171
Other non-current liabilities	32	27.1	31.7	30.9	32.1	32.2	67.6	43.9	35.8	84.1
Total liabilities	314	508	732	717	943	3,294	3,405	2,344	1,947	2,160
Total debt					0	2,236	1,690	993	994	496
Paid-in capital	2,686	2,894	3,061	3,188	3,404	79.6	11.9	172	269	68.1
Retained earnings	2,264	3,060	3,733	4,313	4,820	5,186	5,422	5,876	6,033	5,657
Treasury stock	-1,444	-1,925	-2,733	-3,413	-4,094	-1.7	0
Other comprehensive income	-10.9	-8.5	-8.8	-7.9	-7.8	-7.9	-4.8	-5.6	-5.6	-5.1
Shareholders' equity	3,541	4,066	4,097	4,122	4,164	5,297	5,469	6,083	6,337	5,757
Total equity	3,541	4,066	4,097	4,122	4,164	5,297	5,469	6,083	6,337	5,757
Total liabilities and equity	3,855	4,574	4,829	4,840	5,107	8,591	8,874	8,427	8,283	7,917
Shares outstanding	185	183	177	170	166	165	160	160	160	149

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	995	1,010	918	854	815	1,498	1,275	983	596	477
Depreciation and amortization	214	227	273	315	318	332	394	388	265	279
Stock-based compensation	78	88.5	108	80.1	157	192	195	185	180	232
Deferred income tax	-2.3	6.4	34.5	-1.3	-17	-57.8	61.1	-143	-99.6	-55.3
Change in receivables	121	-37.1	-194	229	76.8	-398	-338	230	355	-89.3
Change in inventory	-147	-69.2	11.9	-120	-190	-41.2	-337	90.8	330	41.8
Change in payables	-182	148	-126	-33	61.1	59.6	31.3	-87.1	10.4	67.1
Cash from operations	1,078	1,456	1,261	1,367	1,205	1,772	1,425	1,856	1,825	1,301
Capital expenditures	-189	-303	-422	-398	-389	-638	-489	-210	-157	-195
Acquisitions	-55.6	-13.7	-404	0	0	-2,751	0	0
Purchases of investments	0	0	-684	-361	-791	-501	-97.2	-289	-271	-634
Cash from investing	-251	-326	-1,150	-337	-581	-3,133	-379	-224	-356	-234
Debt issued				0	0	2,488	0	0
Debt repaid				0	0	-250	-50	-900	-300	0
Stock issued	28.1	15	18.2	19.7	22.8	24.8	29.4	32.1	32.6	33.1
Share buybacks	-526	-432	-760	-658	-648	-196	-887	-175	-77.3	-830
Dividends paid	-201	-214	-243	-274	-307	-341	-373	-405	-439	-433
Cash from financing	-787	-597	-994	-913	-908	1,677	-1,363	-1,479	-819	-1,274
Net change in cash	40.2	533	-884	118	-285	316	-317	153	650	-207
Free cash flow	888	1,153	838	969	815	1,134	935	1,646	1,668	1,106
Interest paid				0	0	2.2	44.4	62.3	28.3	25.4
Income taxes paid	166	163	136	124	111	184	230	229	181	147

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $89.34 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	40.7%	Gross profit / revenue.
Operating margin	7.6%	Operating income / revenue.
EBITDA margin	14.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.1%	Pre-tax income / revenue.
Net margin	7.2%	Net income / revenue.
FCF margin	10.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	17.8%	Cash from operations / revenue.
Effective tax rate	11.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	5.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.9%	Net income / average total assets.
Return on invested capital (ROIC)	5.0%	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	21.1%	Research and development expense / revenue.
SG&A / revenue	10.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	5.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	7.0%	Capital expenditures / revenue.
D&A / revenue	7.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-9.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-13.6%	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	0.8%	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	-21.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-31.1%	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	-10.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-13.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-26.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-8.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-19.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-27.9%	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	-10.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-16.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-26.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-8.5%	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	-28.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.0%	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	1.6%	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	-33.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	5.7%	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	6.3%	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	2.6%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.1%	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	-9.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.7%	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	6.7%	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	-4.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.7%	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	9.2%	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	-4.0%	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	-1.7%	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	-1.8%	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	3.10x	Current assets / current liabilities.
Quick ratio	1.31x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.91x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	6.7%	Total debt / total assets.
Liabilities / assets	22.7%	Total liabilities / total assets.
Net debt	-$302.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.51x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	11.5x	Operating income / interest expense.
Working capital	$1.84B	Current assets - current liabilities.
Goodwill and intangibles / assets	38.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.88B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.54x	Revenue / average total assets.
Fixed asset turnover	3.33x	Revenue / average property, plant and equipment.
Receivables turnover	11.5x	Revenue / average receivables.
Days sales outstanding	32 days	365 x average receivables / revenue.
FCF conversion	149.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	39.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.92	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	$26.51	Revenue / diluted weighted shares.
FCF per share	$2.87	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.73	Cash from operations / diluted weighted shares.
Book value per share	$38.13	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.15	Tangible book value / shares outstanding.
Cash per share	$5.31	(Cash + short-term investments) / shares outstanding.
Payout ratio	146.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	98.0%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$13.44B	Share price x shares outstanding.
Enterprise value	$13.14B	Market cap + total debt - cash - short-term investments.
P/E	46.3x	Market cap / net income. Only when net income is positive.
P/S	3.35x	Market cap / revenue.
P/B	2.34x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.66x	Market cap / tangible book value, when positive.
P/FCF	31.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.8x	Market cap / cash from operations, when positive.
EV/Sales	3.27x	Enterprise value / revenue.
EV/EBIT	43.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	22.1x	Enterprise value / EBITDA, when both are positive.
EV/FCF	30.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.2%	Free cash flow / market cap.
Earnings yield	2.2%	Net income / market cap (the inverse of P/E).
Dividend yield	3.2%	Dividends paid over the period / market cap.
Shareholder yield	3.2%	(Dividends paid + share buybacks) / market cap.

What was SKYWORKS SOLUTIONS, INC.'s revenue in fiscal 2025?

SKYWORKS SOLUTIONS, INC. reported revenue of $4.09B for fiscal 2025, 2.2% lower than the year before.

Was SKYWORKS SOLUTIONS, INC. profitable in fiscal 2025?

Yes. Net income was $477.1M, a net margin of 11.7%.

How much free cash flow did SKYWORKS SOLUTIONS, INC. generate in fiscal 2025?

Cash from operations of $1.30B minus capital expenditures of $195.0M left free cash flow of $1.11B.

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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