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Semtech Financials

SMTC
Source SEC Filings (10-K/10-Q) Updated Mar 23, 2026 Currency USD FYE March

This page shows Semtech (SMTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 45 / 100
Financial Profile 45/100

Based on FY2026 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
30

Semtech has an operating margin of 3.5%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 30/100, indicating healthy but not exceptional operating efficiency. This is down from 5.5% the prior year.

Growth
39

Semtech's revenue grew a modest 3.6% year-over-year to $942.1M. This slow but positive growth earns a score of 39/100.

Leverage
84

Semtech carries a low D/E ratio of 0.89, meaning only $0.89 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
44

Semtech's current ratio of 2.37 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
70

Semtech converts 18.2% of revenue into free cash flow ($171.4M). This strong cash generation earns a score of 70/100.

Returns
0

Semtech generates a -7.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -28.5% the prior year.

Altman Z-Score Safe
5.99

Semtech scores 5.99, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.7B) relative to total liabilities ($860.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

Semtech passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
-4.49x

For every $1 of reported earnings, Semtech generates $-4.49 in operating cash flow ($181.2M OCF vs -$40.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
0.8x

Semtech earns $0.8 in operating income for every $1 of interest expense ($32.6M vs $40.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$942.1M
YoY+3.6%
5Y CAGR+9.6%
10Y CAGR+6.8%

Semtech generated $942.1M in revenue in fiscal year 2026. This represents an increase of 3.6% from the prior year.

EBITDA
$63.1M
YoY-24.9%
5Y CAGR-8.6%
10Y CAGR-2.2%

Semtech's EBITDA was $63.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.9% from the prior year.

Net Income
-$40.4M
YoY+75.1%

Semtech reported -$40.4M in net income in fiscal year 2026. This represents an increase of 75.1% from the prior year.

EPS (Diluted)
$-0.46
YoY+79.6%

Semtech earned $-0.46 per diluted share (EPS) in fiscal year 2026. This represents an increase of 79.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$171.4M
YoY+241.9%
5Y CAGR+14.7%
10Y CAGR+6.8%

Semtech generated $171.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 241.9% from the prior year.

Cash & Debt
$195.2M
YoY+24.7%
5Y CAGR-5.4%
10Y CAGR-1.0%

Semtech held $195.2M in cash against $491.2M in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
93M
YoY+7.5%
5Y CAGR+7.3%
10Y CAGR+3.6%

Semtech had 93M shares outstanding in fiscal year 2026. This represents an increase of 7.5% from the prior year.

Margins & Returns

Gross Margin
57.6%
YoY+7.3pp
5Y CAGR-2.2pp
10Y CAGR-2.2pp

Semtech's gross margin was 57.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 7.3 percentage points from the prior year.

Operating Margin
3.5%
YoY-2.0pp
5Y CAGR-9.1pp
10Y CAGR-2.7pp

Semtech's operating margin was 3.5% in fiscal year 2026, reflecting core business profitability. This is down 2.0 percentage points from the prior year.

Net Margin
-4.3%
YoY+13.5pp
5Y CAGR-14.4pp
10Y CAGR-6.6pp

Semtech's net profit margin was -4.3% in fiscal year 2026, showing the share of revenue converted to profit. This is up 13.5 percentage points from the prior year.

Return on Equity
-7.3%
YoY+21.1pp
5Y CAGR-15.8pp
10Y CAGR-9.5pp

Semtech's ROE was -7.3% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 21.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$196.3M
YoY+14.9%
5Y CAGR+10.8%
10Y CAGR+5.6%

Semtech invested $196.3M in research and development in fiscal year 2026. This represents an increase of 14.9% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$9.8M
YoY+24.4%
5Y CAGR-21.5%
10Y CAGR-2.8%

Semtech invested $9.8M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 24.4% from the prior year.

SMTC Income Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue $267.0M+3.6% $257.6M+2.6% $251.1M0.0% $251.0M+6.0% $236.8M+10.0% $215.4M+4.5% $206.1M+6.8% $192.9M
Cost of Revenue $128.5M+4.1% $123.5M+3.1% $119.8M-0.6% $120.5M+4.0% $115.9M+5.4% $109.9M+3.2% $106.5M-44.9% $193.3M
Gross Profit $138.5M+3.3% $134.1M+2.1% $131.3M+0.6% $130.5M+7.9% $121.0M+14.7% $105.5M+5.9% $99.6M+25636.4% -$390K
R&D Expenses $49.4M+2.5% $48.2M+1.4% $47.5M+1.9% $46.7M+9.6% $42.6M+6.2% $40.1M-3.7% $41.6M+0.2% $41.5M
SG&A Expenses $57.1M-2.3% $58.5M+25.9% $46.4M-14.8% $54.5M-8.8% $59.8M+7.1% $55.8M+6.7% $52.3M-5.3% $55.2M
Operating Income $31.1M+291.8% -$16.2M-145.0% $36.0M+69.4% $21.2M+19.4% $17.8M+129.0% $7.8M+147.2% $3.1M+100.5% -$620.0M
Interest Expense $3.4M-27.4% $4.7M-13.0% $5.4M-74.8% $21.6M+1.3% $21.3M-9.3% $23.5M-0.6% $23.6M-7.6% $25.6M
Income Tax $7.3M+52.8% $4.8M-44.6% $8.7M+126.1% -$33.2M-928.3% $4.0M-4.9% $4.2M+42.6% $3.0M+188.4% -$3.3M
Net Income -$2.9M+89.4% -$27.1M-239.9% $19.3M-50.6% $39.1M+616.0% -$7.6M+95.5% -$170.3M-635.3% -$23.2M+96.4% -$642.4M
EPS (Diluted) $-0.03+90.3% $-0.31-240.9% $0.22 N/A $-0.10+96.2% $-2.61-625.0% $-0.36 N/A

SMTC Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $1.4B0.0% $1.4B-1.8% $1.4B+0.9% $1.4B+2.9% $1.4B+0.8% $1.4B-0.6% $1.4B+0.2% $1.4B
Current Assets $620.9M+1.0% $614.9M+2.8% $598.0M+2.1% $585.5M+5.0% $557.8M+3.0% $541.7M+0.5% $539.3M+1.0% $534.2M
Cash & Equivalents $164.7M-2.3% $168.6M+7.7% $156.5M+3.1% $151.7M+11.2% $136.5M+17.7% $115.9M-8.6% $126.8M-1.4% $128.6M
Inventory $185.7M+1.3% $183.3M+7.7% $170.2M+4.1% $163.6M+0.1% $163.5M+4.8% $156.0M+5.0% $148.5M+2.4% $145.0M
Accounts Receivable $164.8M+7.3% $153.5M-7.4% $165.7M+2.0% $162.5M+14.1% $142.5M-6.9% $153.0M-0.6% $153.9M+14.6% $134.3M
Goodwill $492.1M0.0% $492.2M-7.8% $533.8M+0.1% $533.1M-1.5% $541.3M0.0% $541.1M0.0% $540.9M-0.1% $541.2M
Total Liabilities $840.2M-1.5% $853.0M-1.2% $863.1M-1.6% $876.8M-42.3% $1.5B+0.6% $1.5B-10.7% $1.7B+0.5% $1.7B
Current Liabilities $255.1M+4.9% $243.1M+3.0% $236.0M-16.6% $283.0M+20.2% $235.5M+4.8% $224.7M-0.1% $224.9M+3.6% $217.2M
Long-Term Debt $490.5M-5.5% $518.9M-4.4% $542.6M+7.3% $505.9M-57.5% $1.2B-0.2% $1.2B-13.1% $1.4B+0.2% $1.4B
Total Equity $565.7M+2.3% $552.9M-2.8% $568.8M+4.9% $542.4M+488.3% -$139.7M+1.2% -$141.4M+54.8% -$313.1M-1.8% -$307.4M
Retained Earnings -$406.3M-0.7% -$403.4M-7.2% -$376.3M+4.9% -$395.7M+9.0% -$434.8M-1.8% -$427.2M-66.3% -$256.9M-9.9% -$233.8M

SMTC Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow $47.5M+6.9% $44.4M+59.6% $27.8M-16.9% $33.5M+13.3% $29.6M+692.1% -$5.0M-5512.4% -$89K-100.6% $13.9M
Capital Expenditures $2.8M-2.3% $2.9M+74.8% $1.6M-37.3% $2.6M+445.1% $483K-85.8% $3.4M+155.7% $1.3M-22.1% $1.7M
Free Cash Flow $44.6M+7.5% $41.5M+58.6% $26.2M-15.2% $30.9M+6.1% $29.1M+446.1% -$8.4M-490.7% -$1.4M-111.7% $12.2M
Investing Cash Flow -$4.1M+21.0% -$5.1M-1.2% -$5.1M+35.0% -$7.8M-452.2% -$1.4M+68.3% -$4.5M-349.2% $1.8M-49.8% $3.6M
Financing Cash Flow -$47.1M-70.2% -$27.7M-42.8% -$19.4M-101.6% -$9.6M-27.9% -$7.5M-455.3% -$1.4M+57.7% -$3.2M+76.8% -$13.8M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A $0

SMTC Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Gross Margin 51.9%-0.2pp 52.1%-0.2pp 52.3%+0.3pp 52.0%+0.9pp 51.1%+2.1pp 49.0%+0.7pp 48.3%+48.5pp -0.2%
Operating Margin 11.6%+17.9pp -6.3%-20.6pp 14.3%+5.9pp 8.5%+0.9pp 7.5%+3.9pp 3.6%+2.1pp 1.5%+322.8pp -321.3%
Net Margin -1.1%+9.4pp -10.5%-18.2pp 7.7%-7.9pp 15.6%+18.8pp -3.2%+75.9pp -79.1%-67.8pp -11.2%+321.7pp -332.9%
Return on Equity -0.5%+4.4pp -4.9%-8.3pp 3.4%-3.8pp 7.2% N/A N/A N/A N/A
Return on Assets -0.2%+1.7pp -1.9%-3.3pp 1.4%-1.4pp 2.8%+3.3pp -0.5%+11.9pp -12.4%-10.8pp -1.7%+45.1pp -46.8%
Current Ratio 2.43-0.1 2.530.0 2.53+0.5 2.07-0.3 2.37-0.0 2.41+0.0 2.40-0.1 2.46
Debt-to-Equity 0.87-0.1 0.94-0.0 0.95+0.0 0.93+9.5 -8.52-0.1 -8.43-4.0 -4.39+0.1 -4.46
FCF Margin 16.7%+0.6pp 16.1%+5.7pp 10.4%-1.9pp 12.3%+0.0pp 12.3%+16.2pp -3.9%-3.2pp -0.7%-7.0pp 6.3%

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Frequently Asked Questions

Semtech (SMTC) reported $942.1M in total revenue for fiscal year 2026. This represents a 3.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Semtech (SMTC) revenue grew by 3.6% year-over-year, from $909.3M to $942.1M in fiscal year 2026.

No, Semtech (SMTC) reported a net income of -$40.4M in fiscal year 2026, with a net profit margin of -4.3%.

Semtech (SMTC) reported diluted earnings per share of $-0.46 for fiscal year 2026. This represents a 79.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Semtech (SMTC) had EBITDA of $63.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, Semtech (SMTC) had $195.2M in cash and equivalents against $491.2M in long-term debt.

Semtech (SMTC) had a gross margin of 57.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Semtech (SMTC) had an operating margin of 3.5% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Semtech (SMTC) had a net profit margin of -4.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Semtech (SMTC) has a return on equity of -7.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Semtech (SMTC) generated $171.4M in free cash flow during fiscal year 2026. This represents a 241.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Semtech (SMTC) generated $181.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Semtech (SMTC) had $1.4B in total assets as of fiscal year 2026, including both current and long-term assets.

Semtech (SMTC) invested $9.8M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Semtech (SMTC) invested $196.3M in research and development during fiscal year 2026.

Semtech (SMTC) had 93M shares outstanding as of fiscal year 2026.

Semtech (SMTC) had a current ratio of 2.37 as of fiscal year 2026, which is generally considered healthy.

Semtech (SMTC) had a debt-to-equity ratio of 0.89 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Semtech (SMTC) had a return on assets of -2.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Semtech (SMTC) has an Altman Z-Score of 5.99, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Semtech (SMTC) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Semtech (SMTC) has an earnings quality ratio of -4.49x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Semtech (SMTC) has an interest coverage ratio of 0.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Semtech (SMTC) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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