Semiconductors
51 companies · $632B combined revenue · $279B operating profit
The typical US-listed semiconductors company grew revenue 13% and earnings 5.1% in its latest year, at a 10.4% operating margin, and 9 of 51 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
13%Median revenue growth
5.1%Median earnings growth
-1.7%Median revenue growth, 3 yrs
-17%Median earnings growth, 3 yrs
10.4%Median operating margin
5.4%Median ROCE
Fastest revenue growthMicron Technology MU256%Fastest earnings growthMicron Technology MU895%Highest ROCENvidia NVDA74.7%Biggest margin gainAstera Labs ALAB+49.6 pts
Growth engines: the 4 Cylinders
All four working: 17% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more57%
- Operating leverage · Operating income growing faster than a growing revenue43%
- Margin expansion · Operating margin up 1 point or more55%
- Debt reduction · Debt down 5% or more, or net cash57%
Combined revenue · 48 companies reporting in US dollars
Combined operating margin
All 51 companies
| Median | – | 13% | 5.1% | 10.4% | 5.4% | 0.38x |
| NVDANvidia | $216B | 65.5%▲ | 64.7%▲ | 60.4%▲ | 74.7%▲ | 0.05x▲ |
| AVGOBroadcom | $63.9B | 23.9%▲ | 292%▲ | 39.9%▲ | 16.7%▲ | 0.80x▼ |
| MUMicron Technology | $133B | 256%▲ | 895%▲ | 74.6%▲ | 59%▲ | 0.02x▲ |
| AMDAdvanced Micro Devices | $34.6B | 34.3%▲ | 164%▲ | 10.7%▲ | 5.5%▲ | 0.05x▲ |
| INTCIntel | $52.9B | -0.5%▼ | – | -4.2%▼ | -1.2%▼ | 0.41x▼ |
| TXNTexas Instruments | $17.7B | 13%▲ | 4.2%▼ | 34.1%▲ | 19.2%▲ | 0.86x▼ |
| ARMARM | $4.9B | 22.8%▲ | 14.1%▲ | 18.3%▲ | 9.3%▲ | – |
| MRVLMarvell Technology | $8.2B | 42.1%▲ | – | 16.1%▲ | 6.9%▲ | 0.31x▲ |
| ADIAnalog Devices | $11.0B | 16.9%▲ | 38.7%▲ | 26.6%▲ | 6.6%▲ | 0.24x▲ |
| ASXASE Technology | TWD 645B | 8.4%▼ | 21.8%▲ | 8%▼ | 8%▲ | 0.69x▼ |
| MPWRMonolithic Power Systems | $2.8B | 26.4%▲ | -61%▼ | 26.1%▲ | 19.1%▲ | – |
| NXPINXP Semiconductors | $12.3B | -2.7%▼ | -19.5%▼ | 24.8%▲ | 13.4%▲ | 1.22x▼ |
| UMCUnited Microelectronics | TWD 238B | 2.3%▼ | -17.5%▼ | 18.5%▲ | 9.2%▲ | – |
| ALABAstera Labs | $853M | 115%▲ | – | 20.3%▲ | 12.4%▲ | – |
| STMSTMicroelectronics | $11.8B | -11.1%▼ | -89.3%▼ | 1.5%▼ | 0.8%▼ | 0.12x▲ |
| MCHPMicrochip Technology | $4.7B | 7.1%▼ | – | 10.4% | 3.7%▼ | 0.85x▼ |
| CRDOCredo Technology | $1.3B | 206%▲ | 805%▲ | 33.3%▲ | 21.2%▲ | – |
| ONOn Semiconductor | $6.0B | -15.3%▼ | -92.3%▼ | 1.4%▼ | 0.7%▼ | 0.39x▼ |
| GFSGlobalfoundries | $6.8B | 0.6%▼ | – | 11.7%▲ | 5.4% | 0.10x▲ |
| QQnity Electronics | $4.8B | 9.7%▼ | 0.7%▼ | 21.6%▲ | 8.1%▲ | 0.58x▼ |
| TSEMTower Semiconductor | $1.6B | 9.1%▼ | 6.1%▲ | 12.4%▲ | 6.3%▲ | 0.06x▲ |
| MTSIMACOM Technology Solutions | $967M | 32.6%▲ | -171%▼ | 13.4%▲ | 7.3%▲ | 0.38x▲ |
| FSLRFirst Solar | $5.2B | 24.1%▲ | 18.3%▲ | 30.6%▲ | 14.4%▲ | 0.05x▲ |
| SWKSSkyworks Solutions | $4.1B | -2.2%▼ | -19.9%▼ | 12.2%▲ | 7.6%▲ | 0.17x▲ |
| LSCCLattice Semiconductor | $523M | 2.7%▼ | -95%▼ | 2.1%▼ | 1.5%▼ | – |
| SITMSitime | $327M | 61.2%▲ | – | -20.5%▼ | -5.5%▼ | – |
| SMTCSemtech | $1.0B | 15.5%▲ | – | 3.1%▼ | 2.9%▼ | 0.89x▼ |
| NXTNextpower | $3.6B | 20.3%▲ | 15.1%▲ | 19.6%▲ | 24%▲ | – |
| RMBSRambus | $708M | 27.1%▲ | 28.2%▲ | 36.8%▲ | 18.5%▲ | – |
| VIAVViavi Solutions | $1.5B | 40%▲ | -187%▼ | 6.9%▼ | 5.2%▼ | – |
| SIMOSilicon Motion Technology | $886M | 10.2%▼ | 37.4%▲ | 10.5%▲ | 10.5%▲ | – |
| SLABSilicon Laboratories | $785M | 34.3%▲ | – | -9%▼ | -6.3%▼ | – |
| AAOIApplied Optoelectronics | $456M | 82.8%▲ | – | -12%▼ | -6%▼ | 0.05x▲ |
| MXLMaxlinear | $468M | 29.7%▲ | – | -27.1%▼ | -20.8%▼ | 0.27x▲ |
| ALGMAllegro Microsystems | $890M | 22.8%▲ | – | 2.1%▼ | 1.5%▼ | 0.30x▲ |
| CRUSCirrus Logic | $2.0B | 5.3%▼ | 25%▲ | 23%▲ | 20.1%▲ | – |
| SYNASynaptics | $1.2B | 11.4%▼ | – | -5.6%▼ | -4.8%▼ | 0.90x▼ |
| KLICKulicke & Soffa Industries | $654M | -7.4%▼ | – | -0.5%▼ | -0.4%▼ | – |
| AXTIAXT | $88M | -11.1%▼ | – | -24.9%▼ | -6.4%▼ | – |
| DIODDiodes | $1.5B | 13% | 50.2%▲ | 2.4%▼ | 1.7%▼ | 0.01x▲ |
| ENPHEnphase Energy | $1.5B | 10.7%▼ | 67.7%▲ | 10.7%▲ | 7%▲ | 1.11x▼ |
| PENGPenguin Solutions | $1.4B | 16.9%▲ | – | 4.2%▼ | 5.1%▼ | 1.17x▼ |
| IPGPIpg Photonics | $1.0B | 2.7%▼ | – | 1.3%▼ | 0.6%▼ | – |
| OSISOsi Systems | $1.8B | 4.3%▼ | 3.4%▼ | 12.3%▲ | 11%▲ | 1.20x▼ |
| AMBAAmbarella | $391M | 37.2%▲ | – | -21.1%▼ | -13.3%▼ | – |
| UCTTUltra Clean | $2.1B | -2.1%▼ | -865%▼ | -5.2%▼ | -7.5%▼ | 0.67x▼ |
| POWIPower Integrations | $444M | 5.9%▼ | -31.5%▼ | 2.3%▼ | 1.5%▼ | – |
| NVTSNavitas Semiconductor | $46M | -44.9%▼ | – | -235%▼ | -24%▼ | – |
| IMOSChipmos Technologies | TWD 23.9B | 5.5%▼ | -61.7%▼ | 4.8%▼ | 3.3%▼ | 0.52x▼ |
| LASRNlight | $261M | 31.6%▲ | – | -10.2%▼ | -10.6%▼ | – |
| HIMXHimax Technologies | $832M | -8.2%▼ | -43.2%▼ | 5.3%▼ | 4.7%▼ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).