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Semtech Corporation provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe. The company operates in three segments: Signal Integrity, Analog Mixed Signal and Wireless, and IoT Systems and Connectivity. It provides signal integrity products, including a portfolio of optical and copper data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications. The company also offers analog mixed signal and wireless products; protection devices, such as filter and termination devices which protect electronic systems from voltage spikes; and designs, develops, manufactures, and markets radio frequency products used in industrial, medical, and communications applications, as well as specialized sensing products. In addition, it provides switching voltage regulators, combination switching and linear regulators, smart regulators, isolated switches, and wireless charging related products. Further, the company offers a portfolio of IoT systems and connectivity solutions, such as modules, gateways, routers, and connected services, including wireless connectivity and cloud-based services for industrial, medical, and communications applications. It serves original equipment manufacturers, solution providers, commercial applications, infrastructure, high-end consumer, and industrial end markets. The company sells its products through direct sales personnel, independent sales representative firms, and independent distributors. Semtech Corporation was incorporated in 1960 and is headquartered in Camarillo, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $1.0B | $39M | $-40M | $165M | -7.3% | 15.5% | -75.1% |
| 2025 | $909M | $-53M | $-162M | $44M | -29.8% | 4.7% | -85.2% |
| 2024 | $869M | $-863M | $-1.1B | $-125M | 355.2% | 14.8% | -1879.1% |
| 2023 | $757M | $127M | $61M | $98M | 8.1% | - | - |
| 2022 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 756.53 | 868.76 | 909.29 | 1,049.97 |
| Operating Revenue | - | 756.53 | 868.76 | 909.29 | 1,049.97 |
| Cost Of Revenue | - | 277.98 | 572.51 | 452.76 | 507.83 |
| Gross Profit | - | 478.56 | 296.25 | 456.53 | 542.14 |
| Operating Expense | - | 392.58 | 421.58 | 394.16 | 418.83 |
| Research And Development | - | 166.95 | 186.45 | 170.91 | 196.35 |
| Selling General And Administration | - | 224.81 | 220.22 | 222.37 | 221.85 |
| Total Expenses | - | 670.56 | 994.09 | 846.92 | 926.66 |
| Operating Income | - | 85.98 | -125.33 | 62.37 | 123.31 |
| Total Operating Income As Reported | - | 92.80 | -944.32 | 49.93 | 32.56 |
| EBITDA | - | 126.55 | -862.87 | -52.64 | 39.49 |
| Normalized EBITDA | - | 125.92 | -50.14 | 92.79 | 159.73 |
| EBIT | - | 89.65 | -947.32 | -102.01 | -6.84 |
| Interest Income | - | 5.80 | 3.05 | 2.30 | 2.52 |
| Interest Expense | - | 11.19 | 94.23 | 81.35 | 14.34 |
| Net Interest Income | - | -6.81 | -102.95 | -100.57 | -19 |
| Other Non Operating Income Expenses | - | -1.33 | -0.54 | 0.27 | -5.26 |
| Other Income Expense | - | -0.70 | -813.27 | -145.16 | -125.49 |
| Interest Income Non Operating | - | 5.80 | 3.05 | 2.30 | 2.52 |
| Interest Expense Non Operating | - | 11.19 | 94.23 | 81.35 | 14.34 |
| Net Non Operating Interest Income Expense | - | -6.81 | -102.95 | -100.57 | -19 |
| Pretax Income | - | 78.47 | -1,041.56 | -183.36 | -21.18 |
| Tax Provision | - | 17.34 | 50.52 | -22.01 | 19.83 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.14 | -170.67 | -17.46 | -48.09 |
| Net Income Continuous Operations | - | 61.37 | -1,092.03 | -161.90 | -40.38 |
| Net Income From Continuing And Discontinued Operation | - | 61.38 | -1,092.03 | -161.90 | -40.38 |
| Net Income From Continuing Operation Net Minority Interest | - | 61.38 | -1,092.03 | -161.90 | -40.38 |
| Net Income | - | 61.38 | -1,092.03 | -161.90 | -40.38 |
| Net Income Common Stockholders | - | 61.38 | -1,092.03 | -161.90 | -40.38 |
| Net Income Including Noncontrolling Interests | - | 61.37 | -1,092.03 | -161.90 | -40.38 |
| Normalized Income | - | 60.89 | -449.97 | -33.93 | 31.76 |
| Diluted NI Availto Com Stockholders | - | 61.38 | -1,092.03 | -161.90 | -40.38 |
| Basic Average Shares | - | 63.77 | 64.13 | 71.61 | 88.40 |
| Diluted Average Shares | - | 64.01 | 64.13 | 71.61 | 88.40 |
| Reconciled Depreciation | - | 36.89 | 84.45 | 49.37 | 46.33 |
| Reconciled Cost Of Revenue | - | 241.90 | 502.97 | 404.27 | 462.13 |
| Total Unusual Items | - | 0.63 | -812.73 | -145.43 | -120.23 |
| Total Unusual Items Excluding Goodwill | - | 0.63 | -812.73 | -145.43 | -120.23 |
| Minority Interests | - | 0.01 | 0 | 0 | 0 |
| Earnings From Equity Interest Net Of Tax | - | 0.25 | 0.04 | -0.55 | 0.64 |
| Special Income Charges | - | -1.59 | -822.92 | -158.23 | -122.32 |
| Gain On Sale Of Business | 0 | 18.31 | 0 | 0 | - |
| Other Special Charges | - | 7.26 | - | 144.69 | 21.19 |
| Write Off | - | 1.16 | 3.93 | 1.11 | 10.39 |
| Impairment Of Capital Assets | - | 0 | 795.21 | 7.49 | 86.56 |
| Restructuring And Mergern Acquisition | - | 11.49 | 23.78 | 4.94 | 4.19 |
| Gain On Sale Of Security | - | 2.22 | 10.19 | 12.81 | 2.09 |
| Depreciation Amortization Depletion Income Statement | - | 0.82 | 14.91 | 0.88 | 0.63 |
| Depreciation And Amortization In Income Statement | - | 0.82 | 14.91 | 0.88 | 0.63 |
| Total Other Finance Cost | - | 1.42 | 11.77 | 21.52 | 7.18 |
| Amortization | - | 0.82 | 14.91 | 0.88 | 0.63 |
| Amortization Of Intangibles Income Statement | - | 0.82 | 14.91 | 0.88 | 0.63 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Semtech Corporationthis co. | SMTC | $15.8B | -390.71 | 28.70 | -7.3% | 407.08 |
| Fortive Corporation | FTV | $18.7B | 32.35 | 2.90 | 9.0% | 18.68 |
| Broadridge Financial Solutions, Inc. | BR | $17.8B | 21.23 | 6.71 | 31.6% | 13.62 |
| CDW Corporation | CDW | $17.8B | 16.70 | 6.84 | 40.9% | 11.78 |
| PTC Inc. | PTC | $16.0B | 21.84 |
| - |
| - |
| - |
| - |
| - |
| 4.19 |
| 19.2% |
| 15.20 |
| Gen Digital Inc. | GEN | $16.0B | 16.42 | 6.12 | 37.3% | 9.26 |
| Leidos Holdings, Inc. | LDOS | $15.7B | 10.82 | 3.19 | 29.5% | 8.24 |
| Sanmina Corporation | SANM | $15.0B | 61.06 | 6.38 | 10.4% | 30.04 |
| Trimble Inc. | TRMB | $13.0B | 30.62 | 2.22 | 7.3% | 18.02 |
| Peer Median | - | 21.54 | 5.15 | 24.3% | 14.41 | |