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SkyWater Technology, Inc. (SKYT) 10-Year Financial Performance & Capital Metrics

SKYT •
TechnologySemiconductorsSemiconductor Foundries and Manufacturing Services
AboutSkyWater Technology, Inc., together with its subsidiaries, provides semiconductor development and manufacturing services. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, power discrete, microelectromechanical systems, and rad-hard integrated circuits. It serves customers operating in the computation, aerospace and defense, automotive and transportation, bio-health, consumer, and industrial/internet of things industries. The company was incorporated in 2017 and is headquartered in Bloomington, Minnesota.Show more
  • Revenue $442M +29.2%
  • EBITDA -$3M -110.2%
  • Net Income $119M +1850.6%
  • EPS (Diluted) 2.44 +1842.9%
  • Gross Margin 19.66% -3.3%
  • EBITDA Margin -0.58% -107.9%
  • Operating Margin -0.58% -130.3%
  • Net Margin 26.9% +1455.1%
  • ROE 91.72% +938.4%
  • ROIC -1.29% -130.9%
  • Debt/Equity 0.03 -97.5%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓Strong 5Y sales CAGR of 25.8%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y25.78%
3Y27.58%
TTM29.18%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM1850.55%

EPS CAGR

10Y-
5Y-
3Y-
TTM1805.26%

ROCE

10Y Avg-6.17%
5Y Avg-9.97%
3Y Avg-1.83%
Latest-0.9%

Peer Comparison

Semiconductor Foundries and Manufacturing Services
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Size & Scale
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Per Share
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TSEMTower Semiconductor Ltd.14.04B124.8764.379.05%14.08%7.59%0.06
TSMTaiwan Semiconductor Manufacturing Company Limited1.94T374.5835.1532.97%45.11%31.64%1.8%0.18
GFSGLOBALFOUNDRIES Inc.26.42B47.5529.910.61%13.03%7.39%3.82%0.14
UMCUnited Microelectronics Corporation26.28B10.4419.632.26%20.48%12.88%6.35%0.21
SKYTSkyWater Technology, Inc.1.43B29.4612.0729.18%26.9%60.73%0.03

Compare SKYT vs Peers

Analyze head-to-head performance against top industry competitors across valuation, growth, and profitability metrics.

vs TSM

Compare head-to-head with Taiwan Semiconductor Manufacturing Company Limited

vs GFS

Compare head-to-head with GLOBALFOUNDRIES Inc.

Compare Top 5

vs TSM, GFS, UMC, TSEM

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Sales/Revenue+132.17M136.72M140.44M162.85M212.94M286.68M342.27M442.14M
Revenue Growth %-3.45%2.72%15.96%30.76%34.63%19.39%29.18%
Cost of Goods Sold+100.83M111.38M117.75M170.32M186.97M227.39M272.64M355.21M
COGS % of Revenue76.29%81.46%83.84%104.59%87.81%79.32%79.66%80.34%
Gross Profit+31.34M25.35M22.69M-7.47M25.97M59.29M69.63M86.93M
Gross Margin %23.71%18.54%16.16%-4.59%12.19%20.68%20.34%19.66%
Gross Profit Growth %--19.11%-10.47%-132.93%447.52%128.34%17.43%24.86%
Operating Expenses+17.38M34.32M31.33M49.63M55.73M74.08M63.07M89.5M
OpEx % of Revenue13.15%25.1%22.31%30.48%26.17%25.84%18.43%20.24%
Selling, General & Admin15.17M18.72M25.03M43.59M46.3M63.91M48.03M74.88M
SG&A % of Revenue11.48%13.69%17.82%26.77%21.74%22.29%14.03%16.94%
Research & Development2.21M6.33M4.21M8.75M9.43M10.17M15.04M14.62M
R&D % of Revenue1.67%4.63%3%5.37%4.43%3.55%4.39%3.31%
Other Operating Expenses09.27M2.09M-2.71M0000
Operating Income+13.96M-8.97M-8.64M-57.1M-29.77M-14.79M6.56M-2.57M
Operating Margin %10.56%-6.56%-6.15%-35.07%-13.98%-5.16%1.92%-0.58%
Operating Income Growth %--164.29%3.67%-560.77%47.87%50.32%144.36%-139.19%
EBITDA+29.04M7.69M10.22M-29.74M-1.57M14.14M25.25M-2.57M
EBITDA Margin %21.97%5.63%7.28%-18.26%-0.74%4.93%7.38%-0.58%
EBITDA Growth %--73.52%32.93%-390.85%94.7%997.9%78.57%-110.18%
D&A (Non-Cash Add-back)15.09M16.66M18.87M27.37M28.19M28.93M18.69M0
EBIT13.96M-13.43M-9.3M-50.65M-30.87M-14.79M6.56M0
Net Interest Income+0-6.55M-5.5M-3.54M-5.19M-10.83M-8.84M0
Interest Income7.84M0000000
Interest Expense06.55M5.5M3.54M5.19M10.83M8.84M-13.71M
Other Income/Expense-13.98M-11.01M-6.15M2.91M-6.29M-10.83M-8.84M98.03M
Pretax Income+-21K-19.98M-14.79M-54.19M-36.06M-25.61M-2.28M95.46M
Pretax Margin %-0.02%-14.61%-10.53%-33.28%-16.94%-8.93%-0.67%21.59%
Income Tax+44K-3.56M4.92M-6.79M809K-521K240K-27.99M
Effective Tax Rate %309.52%82.19%139.35%93.55%109.79%120.08%298.33%124.57%
Net Income+-65K-16.42M-20.62M-50.7M-39.59M-30.76M-6.79M118.92M
Net Margin %-0.05%-12.01%-14.68%-31.13%-18.59%-10.73%-1.98%26.9%
Net Income Growth %--25160%-25.57%-145.89%21.9%22.32%77.91%1850.55%
Net Income (Continuing)-65K-16.42M-19.71M-47.4M-36.87M-25.09M-2.52M118.92M
Discontinued Operations00000000
Minority Interest00-1.57M-1.2M308K6.96M5.88M7.99M
EPS (Diluted)+-0.00-0.42-0.50-1.19-0.90-0.68-0.142.44
EPS Growth %---19.05%-138%24.37%24.44%79.41%1842.86%
EPS (Basic)-0.00-0.42-0.50-1.19-0.90-0.68-0.142.47
Diluted Shares Outstanding39.06M39.06M39.06M39.84M40.84M45.51M47.4M48.71M
Basic Shares Outstanding39.06M39.06M39.06M39.84M40.84M45.51M47.4M48.18M
Dividend Payout Ratio--------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Current Assets+38.26M84.52M76.57M74.4M116.55M146.38M132.08M193.07M
Cash & Short-Term Investments498K4.61M7.44M12.92M30.02M18.38M18.84M23.22M
Cash Only498K4.61M7.44M12.92M30.02M18.38M18.84M23.22M
Short-Term Investments00000000
Accounts Receivable18.98M61.97M30M40.13M62.84M95.8M76.54M100.08M
Days Sales Outstanding52.42165.4377.9689.94107.71121.9781.6282.62
Inventory18.03M15.99M27.17M17.5M13.4M15.34M14.54M24.6M
Days Inventory Outstanding65.2752.4184.2237.526.1524.6219.4625.28
Other Current Assets025K9.21M1.58M7.77M14.19M18.18M45.16M
Total Non-Current Assets+110.01M105.92M186.64M189.2M189.21M170.38M181.7M540.71M
Property, Plant & Equipment106.55M101.87M178.08M180.47M180.06M159.46M165.43M511.72M
Fixed Asset Turnover1.24x1.34x0.79x0.90x1.18x1.80x2.07x0.86x
Goodwill00000000
Intangible Assets1.76M1.62M4.56M3.89M5.61M5.67M7.78M9.17M
Long-Term Investments00000000
Other Non-Current Assets1.71M2.43M4M4.83M3.55M5.25M8.49M19.82M
Total Assets+148.27M190.44M263.21M263.6M305.76M316.76M313.77M733.78M
Asset Turnover0.89x0.72x0.53x0.62x0.70x0.91x1.09x0.60x
Asset Growth %-28.44%38.21%0.15%16%3.59%-0.94%133.86%
Total Current Liabilities+40.93M46.57M86.33M47.77M132.17M144.2M154.33M324.21M
Accounts Payable10.21M11.26M16.79M7.64M21.1M19.61M29.59M34.87M
Days Payables Outstanding36.9536.8952.0516.3741.1931.4839.6135.83
Short-Term Debt2.74M4.15M2.77M1.02M57.67M26.74M32.74M5.84M
Deferred Revenue (Current)216K2.98M30.65M20.81M28.19M49.55M55.17M0
Other Current Liabilities17.85M25.54M22.9M5.37M5.71M36.16M6.39M283.51M
Current Ratio0.93x1.81x0.89x1.56x0.88x1.02x0.86x0.60x
Quick Ratio0.49x1.47x0.57x1.19x0.78x0.91x0.76x0.52x
Cash Conversion Cycle80.73180.95110.12111.0792.67115.1161.4772.07
Total Non-Current Liabilities+68.74M119.7M178.47M155.91M119.61M111.86M95.96M213.75M
Long-Term Debt33.11M43.84M69.83M58.43M35.18M36.1M34.7M0
Capital Lease Obligations0001.2M9.36M9.33M8.65M0
Deferred Tax Liabilities9.93M5.67M8.06M995K1.24M679K632K6.37M
Other Non-Current Liabilities25.7M21.69M5.18M7.19M5.87M069K207.38M
Total Liabilities109.67M166.27M264.79M203.67M251.79M256.06M250.28M537.96M
Total Debt+35.85M47.99M72.6M61.84M103.04M72.86M76.76M5.84M
Net Debt35.35M43.38M65.16M48.92M73.02M54.48M57.91M-17.39M
Debt / Equity0.93x1.99x-1.03x1.91x1.20x1.21x0.03x
Debt / EBITDA1.23x6.24x7.10x--5.15x3.04x-
Net Debt / EBITDA1.22x5.64x6.37x--3.85x2.29x-
Interest Coverage--1.37x-1.57x-16.12x-5.73x-1.37x0.74x-
Total Equity+38.6M24.17M-1.58M59.93M53.98M60.7M63.49M195.82M
Equity Growth %--37.39%-106.55%3883.27%-9.93%12.46%4.59%208.42%
Book Value per Share0.990.62-0.041.501.321.331.344.02
Total Shareholders' Equity38.6M24.17M-16K61.13M53.67M53.74M57.61M187.82M
Common Stock3.92M7.33M3.77M398K437K470K478K489K
Retained Earnings34.67M16.83M-3.78M-54.48M-94.07M-125.2M-132M-15.05M
Treasury Stock00000000
Accumulated OCI00000000
Minority Interest00-1.57M-1.2M308K6.96M5.88M7.99M

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from Operations+12.59M10.92M96.19M-55.68M-14.3M10.08M18.46M-24.15M
Operating CF Margin %9.53%7.99%68.5%-34.19%-6.71%3.52%5.39%-5.46%
Operating CF Growth %--13.27%780.66%-157.88%74.32%170.51%83.12%-230.82%
Net Income-65K-16.42M-19.71M-47.4M-36.87M-25.09M-2.52M123.45M
Depreciation & Amortization15.09M16.66M18.87M27.37M28.19M28.93M18.69M35.67M
Stock-Based Compensation3.11M4.17M2.64M12.53M8.61M6.86M8.17M9.42M
Deferred Taxes-1.2M-3.83M2.39M-7.06M244K-560K-496K-31.5M
Other Non-Cash Items36.22M6.97M-7.74M-6.97M2.83M3.06M1.82M-161.2M
Working Capital Changes-2.35M3.37M99.76M-34.15M-17.3M-3.11M-7.21M0
Change in Receivables-4.49M-42.47M31.45M-9.39M-11.6M-33.37M20.2M-22.44M
Change in Inventory-3.45M2.04M-11.18M-3.77M-9.22M-1.94M805K-4.26M
Change in Payables3.02M-595K12.08M-5.91M20.98M0-10.39M13.66M
Cash from Investing+-4.28M-7.37M-88.18M-29.82M-17.45M-10.49M-11.21M-118M
Capital Expenditures-5.55M-8.46M-85.77M-30.76M-17.05M-8.62M-7.94M-29.05M
CapEx % of Revenue4.2%6.18%61.07%18.89%8.01%3.01%2.32%6.57%
Acquisitions1.28M0000000
Investments--------
Other Investing1.21M1.09M-2.41M939K-400K-1.87M-3.26M-88.95M
Cash from Financing+-7.82M552K-5.19M90.98M48.86M-11.23M-6.79M146.52M
Debt Issued (Net)3.21M10.49M-12.3M-8.19M33.96M-32.58M-931K0
Equity Issued (Net)00-1000K1000K1000K1000K1000K0
Dividends Paid00-2.47M-2.92M0000
Share Repurchases00-4.08M00000
Other Financing-11.03M-9.94M13.67M-2.12M-5.19M945K-8.36M146.52M
Net Change in Cash498K4.11M2.83M5.48M17.11M-11.64M462K4.38M
Free Cash Flow+7.04M1.96M6.34M-87.66M-31.75M-408K7.2M-53.2M
FCF Margin %5.33%1.43%4.52%-53.83%-14.91%-0.14%2.1%-12.03%
FCF Growth %--72.21%224.07%-1482.25%63.78%98.72%1864.71%-838.82%
FCF per Share0.180.050.16-2.20-0.78-0.010.15-1.09
FCF Conversion (FCF/Net Income)-193.75x-0.67x-4.67x1.10x0.36x-0.33x-2.72x-0.20x
Interest Paid04.73M4.44M2.74M4.44M8.76M6.55M0
Taxes Paid01.38M149K2.92M3K6K112K0

Key Ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)-0.17%-52.32%-182.59%-173.79%-69.52%-53.64%-10.94%91.72%
Return on Invested Capital (ROIC)14.15%-9.51%-9.89%-49.68%-18.93%-9.16%4.16%-1.29%
Gross Margin23.71%18.54%16.16%-4.59%12.19%20.68%20.34%19.66%
Net Margin-0.05%-12.01%-14.68%-31.13%-18.59%-10.73%-1.98%26.9%
Debt / Equity0.93x1.99x-1.03x1.91x1.20x1.21x0.03x
Interest Coverage--1.37x-1.57x-16.12x-5.73x-1.37x0.74x-
FCF Conversion-193.75x-0.67x-4.67x1.10x0.36x-0.33x-2.72x-0.20x
Revenue Growth-3.45%2.72%15.96%30.76%34.63%19.39%29.18%

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