Semtech Corp

Semiconductors & Related Devices

SMTCStrained7 of 10 basics passed

$186.09

-0.75%

Market cap $17.4B

$186.09

-0.75%

Market cap $17.4B

Semtech Corp is a provider of high-performance semiconductors powering data center networking, Internet of Things ("IoT") connectivity, and cellular infrastructure solutions.

It is a $17.4B technology company. Revenue grew 17.8% over the last year, it keeps 13¢ of every dollar of sales as profit, and its net debt equals ~1.5 years of free cash flow. It trades at 52.1× earnings.

Website: semtech.com
Location: Camarillo, CA
Employees: 1 920
Sector: Technology

Share price · 3 years

$23.40 → $186.09+695.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $1.17B
Profit: keeps 13¢ of every $1 sold; $154M
Free cash flow: cash left after running the business; $193M
Net debt: debt minus cash on hand; $296M
P/E: years of profit in the price; 52.1
EPS: earnings per share, TTM; $1.74
Shares: up 34% since 2016 — dilution; 88.4M
Volatility: beta vs the market — under 1 swings less; 2.47

Revenue, last 10 years

52-week range

Low $62.57$186.09High $197.20

Today's price is 92% of the way from the year's low to its high.

Valuation vs own history

P/E

113.5×

31%

P/S

14.9×

EV/EBITDA

126.0×

P/B

23.3×

FCF yield

1.1%

10%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Insider activity · 90 days

-$2.16Mnet selling

Purchases$0

Sales$2.16M

Insiders trading, last 14d0 buy · 3 sell

Standing in Technology

Size$17.4Btop 63%
Revenue growth+12%top 47%
Net margin27%top 19%
Return on equity51%top 13%
P/E52.1×top 71%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Valuation, Growth, Health and Moat lag behind.

Valuation15

P/E vs own history70th pct · 5/25
FCF yield1.1% · 5/25
P/S14.0x · 5/25
EV/EBITDA275.3x · 0/25

Growth37

Revenue CAGR9.1% · 12/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth50.2% · 25/25

Profitability57

ROIC-1.0% · 0/25
ROE51.2% · 25/25
Net margin13.1% · 20/25
Operating margin10.2% · 12/25

Health30

Altman Zn/a · 0/25
Current ratio1.70 · 18/25
Interest coverage-0.3x · 0/25
Net cash / debtD/A 21% · 12/25

Quality78

Piotroski F7/9 · 22/25
Beneish M-3.16 · 25/25
FCF conversion125% · 25/25
Margin stabilityσ 22.9% · 6/25

Moat43

ROIC >12% years3/11 yrs · 0/25
Median gross margin59.9% · 25/25
FCF-positive years10/11 yrs · 18/25
Worst-year net marginworst -125.7% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2026Financial
Revenue crossed $1B
$1.05B for the year
FY2022Financial
Best year on record
$126M net income
FY2017Financial
Became debt-free
cash now exceeds total debt
FY2016Financial
First recorded profitable year
$11.5M net income

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$22 777 today — price return only

$1.0B revenue in FY2026

Revenue up 17.8% year over year

1 920 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (52.6%)
Revenue growing 17.8% year over year
Strong cash conversion — FCF is 16.4% of revenue
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Thin interest coverage (-0.3×)
Loss-making in 3 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 10 checks passed

Revenue growing — the company sells more than a year ago+17.8% YoY
Profitable — makes more than it spends$154M TTM
Profit growing — earnings are higher than last year+75.1% YoY
Generates cash — cash left after running and investing$193M TTM
Debt under control — could handle its obligations~1.5y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$17.4B market cap
Not printing shares — share count not ballooning — you keep your slice+33.8% shares over ~5y
Proven track record — years of profitability behind it8/11 profitable years
Financially stable — balance sheet not near distresshealth score 18/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 52.1

Peer comparisonSemtech Corp vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
SMTC this company	$17.4B	52.1	+17.8%	13.1%	Strained
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: SMTC vs NVDA · SMTC vs AAPL · SMTC vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 16Hold 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $1.17B · net income $154M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$1.17B

YoY 17.8%

Net income (TTM)

$154M

Margin 13.1%

Gross margin

52.6%

Operating margin

10.2%

P/E ratio

52.1

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	0.6	0.7	0.8	0.9	0.9	1.0
Gross profit	0.4	0.5	0.5	0.3	0.5	0.5
Operating income (EBIT)	0.1	0.1	0.1	-0.9	0.0	0.0
Net income	0.1	0.1	0.1	-1.1	-0.2	-0.0
EPS (diluted)	0.91	1.92	0.96	-17.03	-2.26	-0.46

Cash flowFree cash flow $193M · operating cash flow $214M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$193M

Margin 16.4%

Operating cash flow (TTM)

$214M

FCF margin

16.4%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	0.1	0.2	0.1	-0.1	0.1	0.2
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	0.1	0.2	0.1	-0.1	0.1	0.2
FCF margin	14.5%	23.9%	13.0%	-14.2%	5.5%	16.3%

Balance sheetAssets $1.41B · net debt $296M (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $1.41B of assets is financed

61%

39%

Liabilities $861M — borrowed moneyEquity $550M — owners' stake

Cash vs debt

Total debt $491M − cash $195M = net debt $296M

Cash on hand covers 40% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

-0.3x

EBIT ÷ interest expense

ROE

51.2%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.3	0.3	0.2	0.1	0.2	0.2
Total assets	1.1	1.1	2.6	1.4	1.4	1.4
Total liabilities	0.4	0.4	1.8	1.7	0.9	0.9
Total debt	0.2	0.2	1.3	1.4	0.5	0.5
Equity	0.7	0.7	0.8	-0.3	0.5	0.5
Net debt	-0.1	-0.1	1.1	1.2	0.4	0.3

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of SMTC on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $186.09 · market cap $17.4B.