Arm Holdings

ARM Nasdaq Semiconductors Financials FY2022–FY2026

Arm Holdings' revenue rose 22.8% to $4.9 billion in fiscal 2026. Its operating margin was 18.3%, down from 20.7% a year earlier. Free cash flow was $979 million, up 450.0%. The diluted share count rose 0.5%.

Last close · Oct 23, 2026

$210.33

0.1%

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Revenue

$4.9B

22.8% vs prior year

Operating margin

18.3%

2.4 pts

Net income

$904M

14.1%

Free cash flow

$979M

450.0%

Return on capital

—

Market cap

$224.6B

Oct 23 close

P/E

—

About these figures. Arm Holdings is a foreign company: it files an annual report on Form 20-F, prepared under US accounting standards (US GAAP), instead of a 10-K, and no quarterly reports, so this page has fiscal years only. Its shares trade in the US as American depositary shares (ADSs), and one ADS can stand for several ordinary shares, so per-share figures are per ordinary share and the page has no market value, P/E or valuation model.

What Arm Holdings does

No business description yet.

Legal name: ARM HOLDINGS PLC /UK
Fiscal year ends: March 31, 2026
Latest annual report: —
Accession · CIK: 0001973239-26-000097
0001973239

Revenue and margins

Arm Holdings had $4.9B of revenue in fiscal 2026, up 22.8% on the year before.

Revenue

FY22

Revenue $2.7B

FY23

Revenue $2.7B

FY24

Revenue $3.2B

FY25

Revenue $4.0B

FY26

Revenue $4.9B

Margins, % of revenue

FY22

Gross 95.2%

Operating 23.4%

Net 20.3%

FCF 15.7%

FY23

Gross 96.0%

Operating 25.1%

Net 19.6%

FCF 25.2%

FY24

Gross 95.2%

Operating 3.4%

Net 9.5%

FCF 30.9%

FY25

Gross 97.0%

Operating 20.7%

Net 19.8%

FCF 4.4%

FY26

Gross 97.5%

Operating 18.3%

Net 18.4%

FCF 19.9%

Gross Operating Net FCF

Net income and earnings per share

From fiscal 2022 to 2026, diluted EPS grew 12.0% a year. Loss periods are shown in red.

Net income

FY22

Net income $549M

FY23

Net income $524M

FY24

Net income $306M

FY25

Net income $792M

FY26

Net income $904M

Diluted EPS

FY22

Diluted EPS $0.54

FY23

Diluted EPS $0.51

FY24

Diluted EPS $0.29

FY25

Diluted EPS $0.75

FY26

Diluted EPS $0.85

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)

FY22

Return on capital —

Return on equity —

Return on assets —

FY23

Return on capital —

Return on equity —

Return on assets —

FY24

Return on capital —

Return on equity 6.6%

Return on assets 4.1%

FY25

Return on capital —

Return on equity 13.1%

Return on assets 9.4%

FY26

Return on capital —

Return on equity 12.0%

Return on assets 9.2%

Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $979M in fiscal 2026, 19.9% of revenue. Cash from operations minus capital spending.

Free cash flow

FY22

Free cash flow $424M

FY23

Free cash flow $675M

FY24

Free cash flow $998M

FY25

Free cash flow $178M

FY26

Free cash flow $979M

Cash from operations vs capital spending

FY22

Cash from operations $458M

Capital spending $34.0M

FY23

Cash from operations $739M

Capital spending $64.0M

FY24

Cash from operations $1.1B

Capital spending $92.0M

FY25

Cash from operations $397M

Capital spending $219M

FY26

Cash from operations $1.5B

Capital spending $545M

Cash from operations Capital spending

Dividends, buybacks and share count

Arm Holdings returned $0.0M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count rose 0.5%.

Dividends and buybacks

FY22

Dividends $0.0M

Buybacks $0.0M

FY23

Dividends $0.0M

Buybacks $0.0M

FY24

Dividends $0.0M

Buybacks $0.0M

FY25

Dividends $0.0M

Buybacks $0.0M

FY26

Dividends $0.0M

Buybacks $0.0M

Dividends Buybacks

Diluted shares outstanding (annual)

FY22

Diluted shares 1.03B

FY23

Diluted shares 1.03B

FY24

Diluted shares 1.04B

FY25

Diluted shares 1.06B

FY26

Diluted shares 1.07B

Balance sheet

Cash, debt and the ratios that show how comfortably Arm Holdings can carry it.

Cash vs debt (incl. leases)

FY22

Cash $1.0B

Debt —

FY23

Cash $2.2B

Debt —

FY24

Cash $2.9B

Debt —

FY25

Cash $2.8B

Debt —

FY26

Cash $3.6B

Debt —

Cash Debt

Fiscal year end	FY22	FY23	FY24	FY25	FY26
Cash and short-term investments	$1.0B	$2.2B	$2.9B	$2.8B	$3.6B
Interest coverage	633.0x	—	—	—	—
Current ratio	—	2.6x	2.8x	5.2x	6.0x
Quick ratio	—	2.6x	2.8x	5.2x	6.0x
Total assets	—	$6.9B	$7.9B	$8.9B	$10.7B
Total liabilities	—	$2.8B	$2.6B	$2.1B	$2.4B
Shareholders' equity	$3.5B	$4.1B	$5.3B	$6.8B	$8.3B
Net debt (− = net cash)	—	—	—	—	—

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

Test	FY24	FY25	FY26
Net income is positive	✓	✓	✓
Cash from operations is positive	✓	✓	✓
Return on assets rose	—	✓	✓
Cash from operations exceeds net income	✓	✕	✓
Debt fell relative to assets	—	—	—
Current ratio rose	✓	✓	✓
Share count didn't rise	✕	✕	✕
Gross margin rose	✕	✓	✓
Revenue rose relative to assets	—	✓	✓
F-score	— / 9	— / 9	— / 9
Accruals ratio	−10.6%	4.7%	−6.3%
Altman Z''	5.57	8.21	8.70

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

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5 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

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Fiscal year	FY22	FY23	FY24	FY25	FY26
Income statement
Revenue	$2.7B	$2.7B	$3.2B	$4.0B	$4.9B
Gross profit	$2.6B	$2.6B	$3.1B	$3.9B	$4.8B
Research and development	$995M	$1.1B	$2.0B	$2.1B	$2.8B
Operating income	$633M	$671M	$111M	$831M	$900M
Interest expense	$1.0M	$0.0M	$0.0M	—	—
Pretax income	$786M	$671M	$212M	$720M	$1.2B
Income tax	$110M	$147M	−$94.0M	−$72.0M	$253M
Net income	$549M	$524M	$306M	$792M	$904M
Diluted EPS	$0.54	$0.51	$0.29	$0.75	$0.85
Diluted shares	1.03B	1.03B	1.04B	1.06B	1.07B
Cash flow
Cash from operations	$458M	$739M	$1.1B	$397M	$1.5B
Capital expenditure	$34.0M	$64.0M	$92.0M	$219M	$545M
Free cash flow	$424M	$675M	$998M	$178M	$979M
Depreciation and amortization	$185M	$170M	$162M	$183M	$249M
Stock-based compensation	$26.0M	$79.0M	$1.0B	$820M	$1.1B
Acquisitions	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Share buybacks	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Dividends paid	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Dividends and buybacks	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Balance sheet
Cash and short-term investments	$1.0B	$2.2B	$2.9B	$2.8B	$3.6B
Finance lease liabilities	$0.0M	$0.0M	$0.0M	$25.0M	$59.0M
Current assets	—	$3.5B	$4.2B	$4.8B	$6.2B
Current liabilities	—	$1.4B	$1.5B	$929M	$1.0B
Inventory	$0.0M	$0.0M	$0.0M	$0.0M	$0.0M
Property and equipment, net	—	$185M	$215M	$354M	$772M
Total assets	—	$6.9B	$7.9B	$8.9B	$10.7B
Total liabilities	—	$2.8B	$2.6B	$2.1B	$2.4B
Shareholders' equity	$3.5B	$4.1B	$5.3B	$6.8B	$8.3B
Margins
Gross margin	95.2%	96.0%	95.2%	97.0%	97.5%
Operating margin	23.4%	25.1%	3.4%	20.7%	18.3%
EBITDA margin	30.3%	31.4%	8.4%	25.3%	23.4%
Net margin	20.3%	19.6%	9.5%	19.8%	18.4%
FCF margin	15.7%	25.2%	30.9%	4.4%	19.9%
Returns
Return on capital employed	—	—	1.9%	11.5%	10.2%
Return on equity	—	—	6.6%	13.1%	12.0%
Return on assets	—	—	4.1%	9.4%	9.2%
Growth
Revenue growth	—	−0.9%	20.7%	23.9%	22.8%
Net income growth	—	−4.6%	−41.6%	158.8%	14.1%
EPS growth	—	−5.6%	−43.1%	158.6%	13.3%
FCF growth	—	59.2%	47.9%	−82.2%	450.0%
Share count change	—	0.3%	1.6%	1.8%	0.5%
Financial health
Interest coverage	633.0x	—	—	—	—
Current ratio	—	2.6x	2.8x	5.2x	6.0x
Quick ratio	—	2.6x	2.8x	5.2x	6.0x
Capital allocation
Capex / revenue	1.3%	2.4%	2.9%	5.5%	11.1%
Stock comp / revenue	1.0%	3.0%	32.1%	20.5%	21.4%
Payouts / FCF	0.0%	0.0%	0.0%	0.0%	0.0%
Quality scores
Altman Z''	—	5.4	5.6	8.2	8.7
Accruals ratio	—	—	−10.6%	4.7%	−6.3%

Source: SEC EDGAR XBRL filings (CIK 0001973239). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.