ARM
ARM · NasdaqSemiconductors & Related Devices · Fiscal year ends Mar 31
ARM reported revenue of $4.9B in the fiscal year ended Mar 2026, up 22.8% from the year before. Operating income was $900M, an operating margin of 18.3%, and net income was $904M. Operating cash flow of $1.5B less capital expenditure of $545M left free cash flow of $979M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | $2.7B | $2.7B | $3.2B | $4B | $4.9B |
| Cost of revenue | $131M | $106M | $154M | $121M | $121M |
| Gross profit | $2.6B | $2.6B | $3.1B | $3.9B | $4.8B |
| Research & development | $995M | $1.1B | $2B | $2.1B | $2.8B |
| Selling, general & admin | $897M | $762M | $983M | $984M | $1.1B |
| Operating income | $633M | $671M | $111M | $831M | $900M |
| Pre-tax income | $786M | $671M | $212M | $720M | $1.2B |
| Income tax | $110M | $147M | −$94M | −$72M | $253M |
| Net income | $549M | $524M | $306M | $792M | $904M |
| Diluted EPS | 0.54 | 0.51 | 0.29 | 0.75 | 0.85 |
| Diluted shares | 1,025M | 1,028M | 1,044M | 1,063M | 1,068M |
Balance sheet
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1B | $1.6B | $1.9B | $2.1B | $2.8B |
| Receivables | – | $999M | $781M | $1.1B | $1.3B |
| Current assets | – | $3.5B | $4.2B | $4.8B | $6.2B |
| Net PP&E | – | $185M | $215M | $354M | $772M |
| Goodwill | – | $1.6B | $1.6B | $1.6B | $1.6B |
| Total assets | – | $6.9B | $7.9B | $8.9B | $10.7B |
| Deferred revenue | $1.1B | $293M | $198M | $209M | $294M |
| Current liabilities | – | $1.4B | $1.5B | $929M | $1B |
| Total liabilities | – | $2.8B | $2.6B | $2.1B | $2.4B |
| Shareholders' equity | $3.5B | $4.1B | $5.3B | $6.8B | $8.3B |
| Backlog (remaining obligations) | – | – | $2.5B | $2.2B | $2.1B |
Cash flow
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $458M | $739M | $1.1B | $397M | $1.5B |
| Capital expenditure | $34M | $64M | $92M | $219M | $545M |
| Free cash flow | $424M | $675M | $998M | $178M | $979M |
| Depreciation & amortisation | $185M | $170M | $162M | $183M | $249M |
| Stock-based compensation | $26M | $79M | $1B | $820M | $1.1B |
Key ratios
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.9% | 20.7% | 23.9% | 22.8% |
| Operating income growth (YoY) | – | 6.0% | −83.5% | 648.6% | 8.3% |
| EPS growth (YoY) | – | −5.6% | −43.1% | 158.6% | 13.3% |
| Gross margin | 95.2% | 96.0% | 95.2% | 97.0% | 97.5% |
| Operating margin | 23.4% | 25.0% | 3.4% | 20.7% | 18.3% |
| Net margin | 20.3% | 19.6% | 9.5% | 19.8% | 18.4% |
| Return on equityBlank when equity is negative | 15.5% | 12.9% | 5.8% | 11.6% | 10.9% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 12.2% | 1.7% | 10.4% | 9.3% |
| Free cash flow margin | 15.7% | 25.2% | 30.9% | 4.4% | 19.9% |
| Cash conversion (CFO ÷ net income) | 0.83x | 1.41x | 3.56x | 0.50x | 1.69x |
| Receivable days | – | 136 | 88 | 101 | 96 |
| Current ratio | – | 2.60x | 2.79x | 5.20x | 6.00x |
Recent filings
More in Semiconductors & Related Devices
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.