Arm Holdings vs Skyworks Solutions
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The short version
- Arm Holdings is the larger business, with $4.9B of revenue in fiscal 2026 against $4.1B for Skyworks Solutions.
- Arm Holdings grew revenue faster (22.8%, against −2.2%).
- Arm Holdings kept more of each dollar of sales as operating profit (18.3% operating margin, against 12.2%).
- Skyworks Solutions turned more of its sales into free cash flow (27.1% FCF margin, against 19.9%).
| Latest fiscal year | ARM · FY26 | SWKS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $224.6B | $12.6B |
| Revenue | $4.9B | $4.1B |
| Free cash flow | $979M | $1.1B |
| Net income | $904M | $477M |
| Growth | ||
| Revenue growth | 22.8% | −2.2% |
| 5-year growth | — | 4.0% |
| Share count change | 0.5% | −4.0% |
| Profitability | ||
| Gross margin | 97.5% | 41.2% |
| Operating margin | 18.3% | 12.2% |
| Net margin | 18.4% | 11.7% |
| FCF margin | 19.9% | 27.1% |
| Return on capital | — | 8.5% |
| Return on equity | 12.0% | 7.9% |
| Balance sheet | ||
| Net debt | — | −$878M |
| Net debt / EBITDA | — | −0.9x |
| Dividends and buybacks | $0.0M | $1.3B |
| Valuation & quality | ||
| P/E | — | 43.2x |
| Piotroski F-score | — | 5 |
Revenue
FY17
ARM —
SWKS $3.7B
FY18
ARM —
SWKS $3.9B
FY19
ARM —
SWKS $3.4B
FY20
ARM —
SWKS $3.4B
FY21
ARM —
SWKS $5.1B
FY22
ARM $2.7B
SWKS $5.5B
FY23
ARM $2.7B
SWKS $4.8B
FY24
ARM $3.2B
SWKS $4.2B
FY25
ARM $4.0B
SWKS $4.1B
FY26
ARM $4.9B
SWKS —
ARM
SWKS
Operating margin
FY17
ARM —
SWKS 34.3%
FY18
ARM —
SWKS 34.1%
FY19
ARM —
SWKS 28.2%
FY20
ARM —
SWKS 26.6%
FY21
ARM —
SWKS 31.6%
FY22
ARM 23.4%
SWKS 27.8%
FY23
ARM 25.1%
SWKS 23.6%
FY24
ARM 3.4%
SWKS 15.3%
FY25
ARM 20.7%
SWKS 12.2%
FY26
ARM 18.3%
SWKS —
ARM
SWKS
Free cash flow
FY17
ARM —
SWKS $1.2B
FY18
ARM —
SWKS $838M
FY19
ARM —
SWKS $969M
FY20
ARM —
SWKS $815M
FY21
ARM —
SWKS $1.1B
FY22
ARM $424M
SWKS $935M
FY23
ARM $675M
SWKS $1.6B
FY24
ARM $998M
SWKS $1.7B
FY25
ARM $178M
SWKS $1.1B
FY26
ARM $979M
SWKS —
ARM
SWKS
Return on capital
FY17
ARM —
SWKS —
FY18
ARM —
SWKS —
FY19
ARM —
SWKS —
FY20
ARM —
SWKS —
FY21
ARM —
SWKS 31.2%
FY22
ARM —
SWKS 20.2%
FY23
ARM —
SWKS 15.9%
FY24
ARM —
SWKS 9.9%
FY25
ARM —
SWKS 8.5%
FY26
ARM —
SWKS —
ARM
SWKS
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.