ARM Nasdaq Semiconductors Financials FY2022–FY2026
Arm Holdings had $4.9B of revenue in fiscal 2026, up 22.8% on the year before.
Last close · Oct 26, 2026
$223.35
6.2%Hi! I read Arm Holdings’s latest annual report (fiscal 2026). Here is what stands out:
Good So-so Weak
Are sales growing?
+22.8%
Yes. Sales grew 22.8% last year.
Does it make a profit?
18.4%
Yes. It keeps 18.4% of every sale as profit.
Does profit turn into cash?
19.9%
Yes. 19.9% of sales ends up as free cash.
Rules of thumb on reported numbers. A starting point, not a recommendation.
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.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Arm Holdings did it, and the next one. Share prices often move a lot on those days.
Next results
November 4, 2026
Wednesday · in 9 days
| Date | Results for | Time | Source |
|---|---|---|---|
| May 26, 2026 | Period ended Mar 31, 2026 | After the market closes | 20-F ↗ |
| May 28, 2025 | Period ended Mar 31, 2025 | After the market closes | 20-F ↗ |
| May 29, 2024 | Period ended Mar 31, 2024 | After the market closes | 20-F ↗ |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA · Arm Holdings had $4.9B of revenue in fiscal 2026, up 22.8% on the year before. Its operating margin was 18.3%, down 2.4 pts: of every 100 in sales, about 18 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA · Arm Holdings made $904M of net profit in fiscal 2026. From fiscal 2022 to 2026, diluted EPS grew 12.0% a year.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA · Free cash flow was $979M in fiscal 2026, 19.9% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
KIRA · Arm Holdings returned $0.0M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count rose 0.5%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA · In the last 12 months, insiders sold $72.2M of shares on the open market and bought none.
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.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$72.2M
7 insiders
Of sales under plans
40%
$28.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 21, 2026 | Jason ChildChief Financial Officer | Sold plan | 10,400 | $300.00 | $3.1M | Form 4 |
| Aug 27, 2026 | Jason ChildChief Financial Officer | Sold plan | 10,400 | $255.33 | $2.7M | Form 4 |
| Jun 2, 2026 | Laura Kathleen BartelsChief Accounting Officer | Sold | 11,306 | $392.70 | $4.4M | Form 4 |
| Jun 1, 2026 | William AbbeyChief Commercial Officer | Sold | 6,566 | $402.72 | $2.6M | Form 4 |
| May 28, 2026 | William AbbeyChief Commercial Officer | Sold | 4,200 | $343.81 | $1.4M | Form 4 |
| May 22, 2026 | William AbbeyChief Commercial Officer | Sold | 2,300 | $305.82 | $0.7M | Form 4 |
| May 21, 2026 | Charlotte Claire EatonChief People Officer | Sold | 4,000 | $282.77 | $1.1M | Form 4 |
| May 21, 2026 | William AbbeyChief Commercial Officer | Sold | 4,655 | $287.03 | $1.3M | Form 4 |
| May 21, 2026 | Charlotte Claire EatonChief People Officer | Sold | 7,805 | $290.01 | $2.3M | Form 4 |
| May 20, 2026 | Jason ChildChief Financial Officer | Sold plan | 31,920 | $226.54 | $7.2M | Form 4 |
| May 20, 2026 | William AbbeyChief Commercial Officer | Sold | 5,069 | $257.18 | $1.3M | Form 4 |
| May 20, 2026 | Charlotte Claire EatonChief People Officer | Sold | 3,100 | $252.25 | $0.8M | Form 4 |
| May 19, 2026 | Spencer CollinsChief Legal Officer | Sold | 40,941 | $215.00 | $8.8M | Form 4 |
| May 19, 2026 | William AbbeyChief Commercial Officer | Sold | 10,887 | $224.14 | $2.4M | Form 4 |
| May 18, 2026 | Richard Roy GrisenthwaiteChief Architect | Sold | 24,339 | $209.15 | $5.1M | Form 4 |
| May 15, 2026 | William AbbeyChief Commercial Officer | Sold plan | 7,000 | $212.55 | $1.5M | Form 4 |
| May 11, 2026 | Spencer CollinsChief Legal Officer | Sold | 51,961 | $211.73 | $11.0M | Form 4 |
| Apr 24, 2026 | William AbbeyChief Commercial Officer | Sold plan | 1,577 | $221.99 | $0.4M | Form 4 |
| Apr 23, 2026 | William AbbeyChief Commercial Officer | Sold plan | 1,577 | $199.00 | $0.3M | Form 4 |
| Apr 22, 2026 | Jason ChildChief Financial Officer | Sold plan | 21,280 | $180.00 | $3.8M | Form 4 |
| Apr 14, 2026 | Rene A. HaasChief Executive Officer, Director | Sold plan | 9,299 | $160.85 | $1.5M | Form 4 |
| Mar 26, 2026 | Rene A. HaasChief Executive Officer, Director | Sold plan | 7,986 | $160.86 | $1.3M | Form 4 |
| Mar 25, 2026 | Rene A. HaasChief Executive Officer, Director | Sold plan | 23,867 | $161.17 | $3.8M | Form 4 |
| Mar 25, 2026 | Jason ChildChief Financial Officer | Sold plan | 21,280 | $148.37 | $3.2M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Arm Holdings can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| 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) | — | — | — | — | — |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is 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 |
What does the share cost, and how does it compare?
KIRA · Arm Holdings grew sales faster than 3 of its 4 similar companies.
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Arm Holdings ARM | $238.5B | 22.8% | 18.3% | 19.9% | — | — | — | |
| Microchip Technology MCHP | $41.8B | 7.1% | 10.4% | 18.5% | 3.5% | 111.6x | 6 | Compare → |
| First Solar FSLR | $18.1B | 24.1% | 30.6% | 22.8% | 22.7% | 10.4x | 7 | Compare → |
| Skyworks Solutions SWKS | $12.6B | −2.2% | 12.2% | 27.1% | 8.5% | 43.2x | 5 | Compare → |
| ON Semiconductor ON | $29.9B | −15.4% | 1.4% | 23.7% | 0.9% | 47.8x | 5 | Compare → |
Every number, year by year.
Amounts in USD. Hover a ratio’s name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| 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.
