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Specialty business services · Industrials · Fiscal year ends Dec 31
InterDigital reported revenue of $834M in the fiscal year ended Dec 2025, down 4.0% from the year before. Operating income was $461M, an operating margin of 55.3%, and net income was $407M. Operating cash flow of $544M less capital expenditure of $16M left free cash flow of $529M. It held more cash than debt (net cash $264M).
Ranks among the 21 specialty business services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 425 | 458 | 550 | 869 | 834 |
| Research & development | 201 | 185 | – | – | – |
| Selling, general & admin | 61.2 | – | – | – | – |
| Operating income | 71.2 | 151 | 222 | 440 | 461 |
| Interest expense | 25.2 | 29.5 | 44.8 | 45.4 | 40.0 |
| Pre-tax income | 57.6 | 118 | 235 | 429 | 469 |
| Income tax | 15.4 | 25.5 | 23.6 | 70.8 | 62.8 |
| Net income | 55.3 | 93.7 | 214 | 359 | 407 |
| Diluted EPS | 1.77 | 3.07 | 7.62 | 12.07 | 11.80 |
| Diluted shares | 31.3 | 30.5 | 28.1 | 29.7 | 34.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 706 | 693 | 437 | 527 | 739 |
| Receivables | 31.1 | 53.2 | 117 | 188 | 69.8 |
| Current assets | 1,050 | 1,345 | 1,168 | 1,231 | 1,388 |
| Net PP&E | 13.4 | 11.3 | 11.6 | 18.5 | 23.7 |
| Goodwill | 22.4 | 22.4 | 22.4 | 22.4 | 24.1 |
| Total assets | 1,628 | 1,900 | 1,771 | 1,836 | 2,064 |
| Deferred revenue | 292 | 189 | 154 | 178 | 194 |
| Current liabilities | 372 | 271 | 881 | 726 | 753 |
| Short-term debt | – | 0.0 | 579 | 456 | 458 |
| Long-term debt | 423 | 607 | 29.0 | 15.4 | 16.3 |
| Total liabilities | 875 | 1,170 | 1,189 | 978 | 963 |
| Shareholders' equity | 745 | 725 | 582 | 857 | 1,101 |
| Backlog (remaining obligations) | 572 | 1,199 | 1,533 | 1,675 | 1,769 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 130 | 286 | 214 | 272 | 544 |
| Capital expenditure | 2.5 | 3.2 | 4.3 | 5.8 | 15.9 |
| Free cash flow | 128 | 283 | 209 | 266 | 529 |
| Depreciation & amortisation | 78.2 | 78.6 | 77.8 | 69.9 | 77.5 |
| Stock-based compensation | 28.7 | 22.1 | 35.7 | 46.0 | 43.2 |
| Share buybacks | 30.0 | 74.4 | 340 | 66.7 | 102 |
| Dividends paid | 43.1 | 42.3 | 39.5 | 41.8 | 60.7 |
| Dividend per share | 1.40 | 1.40 | 1.50 | 1.70 | 2.60 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 7.6% | 20.1% | 58.0% | −4.0% |
| Operating income growth (YoY) | – | 111.4% | 47.2% | 98.3% | 4.9% |
| EPS growth (YoY) | – | 73.4% | 148.2% | 58.4% | −2.2% |
| Operating margin | 16.7% | 32.9% | 40.3% | 50.6% | 55.3% |
| Net margin | 13.0% | 20.5% | 39.0% | 41.3% | 48.8% |
| Return on equityBlank when equity is negative | 7.4% | 12.9% | 36.8% | 41.8% | 36.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 5.7% | 9.2% | 24.9% | 39.6% | 35.1% |
| Free cash flow margin | 30.1% | 61.8% | 38.1% | 30.6% | 63.4% |
| Cash conversion (CFO ÷ net income) | 2.36x | 3.05x | 1.00x | 0.76x | 1.34x |
| Receivable days | 27 | 42 | 78 | 79 | 31 |
| Interest cover | 2.82x | 5.10x | 4.94x | 9.68x | 11.5x |
| Debt ÷ equity | 0.57x | 0.84x | 1.05x | 0.55x | 0.43x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −284 | −86.4 | 171 | −55.6 | −264 |
| Current ratio | 2.83x | 4.96x | 1.33x | 1.70x | 1.84x |
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.