Silicon Labs vs Semtech
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The short version
- Semtech is the larger business, with $1.1B of revenue in fiscal 2026 against $785M for Silicon Labs.
- Silicon Labs grew revenue faster (34.3%, against 15.5%).
- Semtech kept more of each dollar of sales as operating profit (3.1% operating margin, against −9.0%).
- Semtech turned more of its sales into free cash flow (16.3% FCF margin, against 8.4%).
- Semtech earned a higher return on the capital invested in it (2.9%, against −7.0%).
| Latest fiscal year | SLAB · FY25 | SMTC · FY26 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $12.9B |
| Revenue | $785M | $1.1B |
| Free cash flow | $65.8M | $171M |
| Net income | −$64.9M | −$40.4M |
| Growth | ||
| Revenue growth | 34.3% | 15.5% |
| 5-year growth | 9.0% | 12.0% |
| Share count change | 1.7% | 23.4% |
| Profitability | ||
| Gross margin | 58.2% | 51.6% |
| Operating margin | −9.0% | 3.1% |
| Net margin | −8.3% | −3.9% |
| FCF margin | 8.4% | 16.3% |
| Return on capital | −7.0% | 2.9% |
| Return on equity | −6.0% | −7.4% |
| Balance sheet | ||
| Net debt | −$291M | $296M |
| Net debt / EBITDA | — | 4.7x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 5 | 7 |
Revenue
FY17
SLAB $769M
SMTC $544M
FY18
SLAB $868M
SMTC $588M
FY19
SLAB $474M
SMTC $627M
FY20
SLAB $511M
SMTC $548M
FY21
SLAB $721M
SMTC $595M
FY22
SLAB $1.0B
SMTC $741M
FY23
SLAB $782M
SMTC $757M
FY24
SLAB $584M
SMTC $869M
FY25
SLAB $785M
SMTC $909M
FY26
SLAB —
SMTC $1.1B
SLAB
SMTC
Operating margin
FY17
SLAB 11.1%
SMTC 15.5%
FY18
SLAB 9.8%
SMTC 11.3%
FY19
SLAB −18.7%
SMTC 16.8%
FY20
SLAB −21.0%
SMTC 9.5%
FY21
SLAB −4.6%
SMTC 12.6%
FY22
SLAB 11.7%
SMTC 19.6%
FY23
SLAB −3.1%
SMTC 12.3%
FY24
SLAB −28.3%
SMTC −108.7%
FY25
SLAB −9.0%
SMTC 5.5%
FY26
SLAB —
SMTC 3.1%
SLAB
SMTC
Free cash flow
FY17
SLAB $177M
SMTC $84.7M
FY18
SLAB $149M
SMTC $76.0M
FY19
SLAB $151M
SMTC $167M
FY20
SLAB $118M
SMTC $95.6M
FY21
SLAB $62.6M
SMTC $86.2M
FY22
SLAB $115M
SMTC $177M
FY23
SLAB −$52.6M
SMTC $98.4M
FY24
SLAB −$25.7M
SMTC −$123M
FY25
SLAB $65.8M
SMTC $50.1M
FY26
SLAB —
SMTC $171M
SLAB
SMTC
Return on capital
FY17
SLAB 9.2%
SMTC 11.2%
FY18
SLAB 12.7%
SMTC 7.1%
FY19
SLAB −9.0%
SMTC 18.0%
FY20
SLAB −9.4%
SMTC 6.4%
FY21
SLAB −3.1%
SMTC 11.9%
FY22
SLAB 12.3%
SMTC 21.0%
FY23
SLAB −2.4%
SMTC 5.9%
FY24
SLAB −15.9%
SMTC −53.9%
FY25
SLAB −7.0%
SMTC 4.3%
FY26
SLAB —
SMTC 2.9%
SLAB
SMTC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.