Lattice Semiconductor
LSCC · NasdaqSemiconductors & Related Devices · Fiscal year ends Jan 2
Lattice Semiconductor reported revenue of $523M in the fiscal year ended Jan 2026, up 2.7% from the year before. Operating income was $11M, an operating margin of 2.1%, and net income was $3M. Operating cash flow of $175M less capital expenditure of $43M left free cash flow of $133M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $515M | $660M | $737M | $509M | $523M |
| Cost of revenue | $194M | $208M | $222M | $169M | $166M |
| Gross profit | $322M | $452M | $515M | $340M | $357M |
| Research & development | $111M | $136M | $160M | $159M | $188M |
| Selling, general & admin | $106M | $122M | $137M | $117M | $154M |
| Operating income | $101M | $187M | $212M | $34M | $11M |
| Net interest incomeBanks | −$3M | −$4M | $2M | $4M | $3M |
| Interest expense | $3M | $4M | $3M | $266,000 | $264,000 |
| Pre-tax income | $98M | $182M | $215M | $36M | $13M |
| Income tax | $2M | $3M | −$44M | −$25M | $10M |
| Net income | $96M | $179M | $259M | $61M | $3M |
| Diluted EPS | 0.67 | 1.27 | 1.85 | 0.44 | 0.02 |
| Diluted shares | 142M | 141M | 140M | 138M | 138M |
Balance sheet
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $132M | $146M | $128M | $136M | $134M |
| Receivables | $80M | $94M | $104M | $81M | $102M |
| Inventory | $68M | $110M | $99M | $103M | $89M |
| Current assets | $301M | $379M | $368M | $365M | $364M |
| Net PP&E | $38M | $48M | $50M | $53M | $77M |
| Goodwill | $315M | $315M | $315M | $315M | $315M |
| Total assets | $726M | $799M | $841M | $844M | $883M |
| Payables | $35M | $42M | $34M | $37M | $57M |
| Deferred revenue | $5M | $18M | $5M | $11M | $4M |
| Current liabilities | $106M | $127M | $97M | $100M | $118M |
| Short-term debt | $17M | $0 | – | – | – |
| Long-term debt | $141M | $129M | $0 | – | – |
| Total liabilities | $315M | $312M | $149M | $133M | $169M |
| Shareholders' equity | $412M | $487M | $692M | $711M | $714M |
Cash flow
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $168M | $239M | $270M | $141M | $175M |
| Capital expenditure | $10M | $23M | $20M | $21M | $43M |
| Free cash flow | $158M | $215M | $249M | $120M | $133M |
| Depreciation & amortisation | $12M | $14M | $17M | $19M | $20M |
| Stock-based compensation | $46M | $56M | $70M | $53M | $116M |
| Acquisitions | $68M | $0 | $0 | – | – |
| Share buybacks | $70M | $110M | $80M | $67M | $100M |
Key ratios
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 28.1% | 11.6% | −30.9% | 2.7% |
| Operating income growth (YoY) | – | 85.9% | 13.3% | −83.8% | −67.4% |
| EPS growth (YoY) | – | 89.6% | 45.7% | −76.2% | −95.5% |
| Gross margin | 62.4% | 68.5% | 69.8% | 66.8% | 68.2% |
| Operating margin | 19.6% | 28.4% | 28.8% | 6.8% | 2.1% |
| Net margin | 18.6% | 27.1% | 35.1% | 12.0% | 0.6% |
| Return on equityBlank when equity is negative | 23.3% | 36.7% | 37.4% | 8.6% | 0.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 16.3% | 27.9% | 28.6% | 4.6% | 1.5% |
| Free cash flow margin | 30.6% | 32.6% | 33.8% | 23.5% | 25.3% |
| Cash conversion (CFO ÷ net income) | 1.75x | 1.33x | 1.04x | 2.30x | 56.8x |
| Receivable days | 57 | 52 | 52 | 58 | 71 |
| Inventory days | 127 | 193 | 162 | 223 | 196 |
| Payable days | 65 | 74 | 57 | 80 | 124 |
| Interest cover | 36.8x | 45.2x | 71.5x | 130x | 42.5x |
| Debt ÷ equity | 0.38x | 0.26x | 0.00x | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $26M | −$17M | −$128M | – | – |
| Current ratio | 2.84x | 2.98x | 3.78x | 3.66x | 3.09x |
Recent filings
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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.