Loading financials from SEC filings…
Semiconductors · Technology · Fiscal year ends Dec 31
Silicon Motion Technology reported revenue of $886M in the fiscal year ended Dec 2025, up 10.2% from the year before. Operating income was $93M, an operating margin of 10.5%, and net income was $123M. Operating cash flow of $61M less capital expenditure of $55M left free cash flow of $6M.
Ranks among the 51 semiconductors 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 | 922 | 946 | 639 | 804 | 886 |
| Cost of revenue | 461 | 480 | 369 | 435 | 458 |
| Gross profit | 461 | 466 | 270 | 369 | 428 |
| Research & development | 164 | 189 | 174 | 218 | 263 |
| Selling, general & admin | 50.6 | 63.0 | 54.8 | 58.8 | 71.8 |
| Operating income | 246 | 214 | 39.9 | 90.9 | 93.0 |
| Interest expense | 0.0 | 0.1 | 0.0 | 0.0 | – |
| Pre-tax income | 247 | 213 | 61.0 | 107 | 140 |
| Income tax | 47.3 | 40.1 | 8.2 | 18.2 | 17.5 |
| Net income | 200 | 173 | 52.9 | 89.2 | 123 |
| Diluted EPS | 1.43 | 1.29 | 0.40 | 0.66 | 0.91 |
| Diluted shares | 140 | 134 | 134 | 135 | 135 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 360 | 232 | 314 | 276 | 202 |
| Receivables | 209 | 206 | 195 | 234 | 212 |
| Inventory | 39.9 | 98.3 | 61.3 | 51.1 | 71.8 |
| Current assets | 818 | 788 | 793 | 795 | 943 |
| Net PP&E | 124 | 139 | 167 | 188 | 219 |
| Total assets | 971 | 961 | 1,008 | 1,031 | 1,223 |
| Payables | 80.8 | 36.0 | 55.6 | 17.8 | 34.7 |
| Deferred revenue | 2.4 | 6.9 | 3.7 | 5.0 | 82.1 |
| Current liabilities | 282 | 184 | 213 | 200 | 340 |
| Short-term debt | – | – | 0.0 | – | – |
| Total liabilities | 314 | 229 | 273 | 259 | 392 |
| Shareholders' equity | 658 | 733 | 735 | 772 | 831 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 175 | 83.9 | 149 | 77.1 | 61.4 |
| Capital expenditure | 24.7 | 32.9 | 50.3 | 44.4 | 55.1 |
| Free cash flow | 150 | 51.0 | 98.8 | 32.7 | 6.3 |
| Depreciation & amortisation | 17.2 | 18.9 | 21.8 | 25.3 | 30.2 |
| Stock-based compensation | 19.5 | 26.7 | 17.5 | 17.0 | 26.3 |
| Share buybacks | 45.7 | 133 | 0.0 | 0.0 | 24.3 |
| Dividends paid | 54.0 | 49.9 | 16.7 | 67.3 | 67.2 |
| Dividend per share | 0.50 | – | 0.50 | 0.50 | 0.50 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 2.6% | −32.4% | 25.7% | 10.2% |
| Operating income growth (YoY) | – | −13.0% | −81.4% | 127.9% | 2.4% |
| EPS growth (YoY) | – | −9.8% | −69.0% | 65.0% | 37.9% |
| Gross margin | 50.0% | 49.2% | 42.3% | 45.9% | 48.3% |
| Operating margin | 26.7% | 22.6% | 6.2% | 11.3% | 10.5% |
| Net margin | 21.7% | 18.2% | 8.3% | 11.1% | 13.8% |
| Return on equityBlank when equity is negative | 30.4% | 23.5% | 7.2% | 11.6% | 14.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 35.6% | 27.5% | 5.0% | 10.9% | 10.5% |
| Free cash flow margin | 16.3% | 5.4% | 15.5% | 4.1% | 0.7% |
| Cash conversion (CFO ÷ net income) | 0.87x | 0.49x | 2.82x | 0.86x | 0.50x |
| Receivable days | 83 | 80 | 111 | 106 | 87 |
| Inventory days | 32 | 75 | 61 | 43 | 57 |
| Payable days | 64 | 27 | 55 | 15 | 28 |
| Interest cover | – | 3013x | – | – | – |
| Current ratio | 2.91x | 4.29x | 3.73x | 3.98x | 2.78x |
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.