CoverageForm 410-K10-Q8-K13D13G13F

SKYT · Skywater Technology, Inc - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · SKYT

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021
Revenue$442.14M$342.27M$286.68M$212.94M$140.44M
Cost of Revenue$355.21M$272.64M$227.39M$186.97M$117.75M
Gross Profit$86.93M$69.63M$59.29M$25.97M$22.69M
R&D$14.62M$15.04M$10.17M$9.43M$4.21M
SG&A$74.88M$48.03M$63.91M$46.30M$25.03M
Total Operating Expenses-----
D&A$35.67M$18.69M$28.93M$28.19M$18.87M
Operating Income($2.58M)$6.56M($14.79M)($29.77M)($8.64M)
Interest Expense$13.71M$5.19M$10.83M$5.19M$5.50M
Income Tax($27.99M)$240.0K($521.0K)$809.0K$4.92M
Net Income$118.91M($6.79M)($30.76M)($39.59M)($20.62M)
EPS - Basic$2.47($0.14)($0.68)($1.15)($1.76)
EPS - Diluted$2.44($0.14)($0.68)($1.15)($1.76)

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021
Cash & Equivalents$23.22M$18.84M$18.38M$30.02M$12.92M
Accounts Receivable$100.08M$54.33M$65.96M$62.67M$39.38M
Inventory$24.60M$14.54M$15.34M$13.40M$17.50M
Accounts Payable$34.87M$29.59M$19.61M$21.10M$7.64M
Current Assets$193.20M$132.08M$146.38M$116.55M$74.40M
Total Assets$733.91M$313.77M$316.76M$305.76M$263.60M
Current Liabilities$324.02M$154.33M$144.20M$132.17M$47.77M
Long-term Debt$32.94M$34.70M$36.10M$35.18M$58.43M
Total Liabilities$538.10M$250.28M$256.06M$251.79M$203.67M
Stockholders' Equity$187.82M$57.61M$53.74M$53.67M$61.13M
Retained Earnings($15.06M)($132.00M)($125.20M)($94.07M)($54.48M)

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021
Operating Cash Flow($28.97M)$18.46M$10.08M($14.30M)$96.19M
Investing Cash Flow($113.04M)($11.21M)($10.49M)($17.45M)($88.18M)
Financing Cash Flow$146.39M($6.79M)($11.23M)$48.86M($5.19M)
CapEx$24.34M$7.94M$8.62M$17.05M$85.77M
Free Cash Flow($53.30M)$10.52M$1.46M($31.35M)$10.43M

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021
Profitability
Gross margin19.7%20.3%20.7%12.2%16.2%
Operating margin-0.6%1.9%-5.2%-14.0%-6.2%
EBITDA margin7.5%7.4%4.9%-0.7%7.3%
Net margin26.9%-2.0%-10.7%-18.6%-14.7%
Free cash flow margin-12.1%3.1%0.5%-14.7%7.4%
FCF / Net income-0.45-1.55-0.050.79-0.51
R&D / Revenue3.3%4.4%3.5%4.4%3.0%
SG&A / Revenue16.9%14.0%22.3%21.7%17.8%
Effective tax rate-30.8%----
Return on assets16.2%-2.2%-9.7%-12.9%-7.8%
Return on equity63.3%-11.8%-57.2%-73.8%-33.7%
Return on invested capital-1.2%5.6%-13.0%-26.5%-5.7%
Liquidity
Current ratio0.600.861.020.881.56
Quick ratio0.520.760.910.781.19
Cash ratio0.070.120.130.230.27
Leverage
Debt / Equity0.180.600.670.660.96
Debt / Assets0.040.110.110.120.22
Debt / EBITDA1.001.372.55-5.71
Interest coverage-0.2x1.3x-1.4x-5.7x-1.6x
Equity multiplier3.915.455.895.704.31
Liabilities / Assets0.730.800.810.820.77
Efficiency
Asset turnover0.601.090.910.700.53
Inventory turnover14.4418.7614.8213.966.73
Days sales outstanding83d58d84d107d102d
Days inventory outstanding25d19d25d26d54d
Days payable outstanding36d40d31d41d24d
Cash conversion cycle72d38d77d92d133d
Valuation
P / E7.4x----
P / B4.7x11.4x8.1x0.0x7.7x
P / S2.0x1.9x1.5x0.0x3.4x
EV / EBITDA27.0x26.5x32.2x-50.5x
Growth
Revenue growth (YoY)29.2%19.4%34.6%51.6%-
Revenue CAGR (3y)27.6%34.6%---
Revenue CAGR (5y)-----
Gross profit growth (YoY)24.8%17.4%128.3%14.4%-
Operating income growth (YoY)--50.3%-244.4%-
Net income growth (YoY)-77.9%22.3%-92.0%-
EPS growth (YoY)-79.4%40.9%34.7%-
EPS CAGR (3y)-----
EPS CAGR (5y)-----
FCF growth (YoY)-619.0%---
FCF CAGR (5y)-----
Book value growth (YoY)226.0%7.2%0.1%-12.2%-

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-28.

Business segments

$442.14M total
Legacy Sky Water$266.85M · 60.4%
Sky Water Texas$175.29M · 39.6%

Product / service

$1.07B total
Advanced Technology Service Development And Wafer Services$413.28M · 38.7%
Advanced Technology Services Development$212.50M · 19.9%
Wafer Services$200.78M · 18.8%
Advanced Technology Services Time And Materials And Cost Plus Fixed Fee Contracts$140.86M · 13.2%
Advanced Technology Services Fixed Price$69.69M · 6.5%
Tool$28.86M · 2.7%
Advanced Technology Services Other$1.94M · 0.2%

Geographic

$442.14M total
US$420.97M · 95.2%
GB$13.14M · 3.0%
All Other Countries$6.18M · 1.4%
CA$1.16M · 0.3%
HK$675.0K · 0.2%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.59
Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

3/9
Weak
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Semiconductors & Related Devices

CompanyRevenue (last FY)Net marginROE
AMKR$6.71B5.6%8.4%
LSCC$523.26M0.6%0.4%
CRDO---
FSLR$5.22B29.3%16.0%
NVDA$215.94B55.6%76.3%

Comparing SkyWater Technology against the 5 most active filers in the same SIC group.