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

SKYT • • Industrial / General
TechnologySemiconductorsSemiconductor Foundry & Packaging ServicesFoundry 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 $342M +19.4%
  • EBITDA $25M +78.6%
  • Net Income -$7M +77.9%
  • EPS (Diluted) -0.14 +79.4%
  • Gross Margin 20.34% -1.6%
  • EBITDA Margin 7.38% +49.6%
  • Operating Margin 1.92% +137.2%
  • Net Margin -1.98% +81.5%
  • ROE -10.94% +79.6%
  • ROIC 4.16% +145.4%
  • Debt/Equity 1.21 +0.7%
  • Interest Coverage 0.74 +154.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓Strong 5Y sales CAGR of 20.1%
  • ✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

  • ✗Expensive at 23.9x book value

* 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-
5Y20.14%
3Y28.09%
TTM0.19%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM866.54%

EPS CAGR

10Y-
5Y-
3Y-
TTM839.53%

ROCE

10Y Avg-6.93%
5Y Avg-10.87%
3Y Avg-6.63%
Latest3.95%

Peer Comparison

Foundry Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TSEMTower Semiconductor Ltd.13.94B124.0067.030.94%12.92%6.9%0.09%0.07
TSMTaiwan Semiconductor Manufacturing Company Limited1.77T341.641.5333.89%43.29%31.22%49.11%0.24
UMCUnited Microelectronics Corporation22.08B8.770.474.39%17.01%11.12%24.13%0.19
GFSGLOBALFOUNDRIES Inc.23.08B41.53-86.52-8.69%-0.65%-0.37%4.75%0.21
SKYTSkyWater Technology, Inc.1.55B32.03-228.7919.39%36.36%63.09%0.46%1.21

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+132.17M136.72M140.44M162.85M212.94M286.68M342.27M
Revenue Growth %-0.03%0.03%0.16%0.31%0.35%0.19%
Cost of Goods Sold+100.83M111.38M117.75M170.32M186.97M227.39M272.64M
COGS % of Revenue0.76%0.81%0.84%1.05%0.88%0.79%0.8%
Gross Profit+31.34M25.35M22.69M-7.47M25.97M59.29M69.63M
Gross Margin %0.24%0.19%0.16%-0.05%0.12%0.21%0.2%
Gross Profit Growth %--0.19%-0.1%-1.33%4.48%1.28%0.17%
Operating Expenses+17.38M34.32M31.33M49.63M55.73M74.08M63.07M
OpEx % of Revenue0.13%0.25%0.22%0.3%0.26%0.26%0.18%
Selling, General & Admin15.17M18.72M25.03M43.59M46.3M63.91M48.03M
SG&A % of Revenue0.11%0.14%0.18%0.27%0.22%0.22%0.14%
Research & Development2.21M6.33M4.21M8.75M9.43M10.17M15.04M
R&D % of Revenue0.02%0.05%0.03%0.05%0.04%0.04%0.04%
Other Operating Expenses09.27M2.09M-2.71M000
Operating Income+13.96M-8.97M-8.64M-57.1M-29.77M-14.79M6.56M
Operating Margin %0.11%-0.07%-0.06%-0.35%-0.14%-0.05%0.02%
Operating Income Growth %--1.64%0.04%-5.61%0.48%0.5%1.44%
EBITDA+29.04M7.69M10.22M-29.74M-1.57M14.14M25.25M
EBITDA Margin %0.22%0.06%0.07%-0.18%-0.01%0.05%0.07%
EBITDA Growth %--0.74%0.33%-3.91%0.95%9.98%0.79%
D&A (Non-Cash Add-back)15.09M16.66M18.87M27.37M28.19M28.93M18.69M
EBIT13.96M-13.43M-9.3M-50.65M-30.87M-14.79M6.56M
Net Interest Income+0-6.55M-5.5M-3.54M-5.19M-10.83M-8.84M
Interest Income7.84M000000
Interest Expense06.55M5.5M3.54M5.19M10.83M8.84M
Other Income/Expense-13.98M-11.01M-6.15M2.91M-6.29M-10.83M-8.84M
Pretax Income+-21K-19.98M-14.79M-54.19M-36.06M-25.61M-2.28M
Pretax Margin %-0%-0.15%-0.11%-0.33%-0.17%-0.09%-0.01%
Income Tax+44K-3.56M4.92M-6.79M809K-521K240K
Effective Tax Rate %3.1%0.82%1.39%0.94%1.1%1.2%2.98%
Net Income+-65K-16.42M-20.62M-50.7M-39.59M-30.76M-6.79M
Net Margin %-0%-0.12%-0.15%-0.31%-0.19%-0.11%-0.02%
Net Income Growth %--251.6%-0.26%-1.46%0.22%0.22%0.78%
Net Income (Continuing)-65K-16.42M-19.71M-47.4M-36.87M-25.09M-2.52M
Discontinued Operations0000000
Minority Interest00-1.57M-1.2M308K6.96M5.88M
EPS (Diluted)+-0.00-0.42-0.50-1.19-0.90-0.68-0.14
EPS Growth %---0.19%-1.38%0.24%0.24%0.79%
EPS (Basic)-0.00-0.42-0.50-1.19-0.90-0.68-0.14
Diluted Shares Outstanding39.06M39.06M39.06M39.84M40.84M45.51M47.4M
Basic Shares Outstanding39.06M39.06M39.06M39.84M40.84M45.51M47.4M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+38.26M84.52M76.57M74.4M116.55M146.38M132.08M
Cash & Short-Term Investments498K4.61M7.44M12.92M30.02M18.38M18.84M
Cash Only498K4.61M7.44M12.92M30.02M18.38M18.84M
Short-Term Investments0000000
Accounts Receivable18.98M61.97M30M40.13M62.84M95.8M76.54M
Days Sales Outstanding52.42165.4377.9689.94107.71121.9781.62
Inventory18.03M15.99M27.17M17.5M13.4M15.34M14.54M
Days Inventory Outstanding65.2752.4184.2237.526.1524.6219.46
Other Current Assets025K9.21M1.58M7.77M14.19M18.18M
Total Non-Current Assets+110.01M105.92M186.64M189.2M189.21M170.38M181.7M
Property, Plant & Equipment106.55M101.87M178.08M180.47M180.06M159.46M165.43M
Fixed Asset Turnover1.24x1.34x0.79x0.90x1.18x1.80x2.07x
Goodwill0000000
Intangible Assets1.76M1.62M4.56M3.89M5.61M5.67M7.78M
Long-Term Investments0000000
Other Non-Current Assets1.71M2.43M4M4.83M3.55M5.25M8.49M
Total Assets+148.27M190.44M263.21M263.6M305.76M316.76M313.77M
Asset Turnover0.89x0.72x0.53x0.62x0.70x0.91x1.09x
Asset Growth %-0.28%0.38%0%0.16%0.04%-0.01%
Total Current Liabilities+40.93M46.57M86.33M47.77M132.17M144.2M154.33M
Accounts Payable10.21M11.26M16.79M7.64M21.1M19.61M29.59M
Days Payables Outstanding36.9536.8952.0516.3741.1931.4839.61
Short-Term Debt2.74M4.15M2.77M1.02M57.67M26.74M32.74M
Deferred Revenue (Current)216K1000K1000K1000K1000K1000K1000K
Other Current Liabilities17.85M25.54M22.9M5.37M5.71M36.16M6.39M
Current Ratio0.93x1.81x0.89x1.56x0.88x1.02x0.86x
Quick Ratio0.49x1.47x0.57x1.19x0.78x0.91x0.76x
Cash Conversion Cycle80.73180.95110.12111.0792.67115.1161.47
Total Non-Current Liabilities+68.74M119.7M178.47M155.91M119.61M111.86M95.96M
Long-Term Debt33.11M43.84M69.83M58.43M35.18M36.1M34.7M
Capital Lease Obligations0001.2M9.36M9.33M8.65M
Deferred Tax Liabilities9.93M5.67M8.06M995K1.24M679K632K
Other Non-Current Liabilities25.7M21.69M5.18M7.19M5.87M069K
Total Liabilities109.67M166.27M264.79M203.67M251.79M256.06M250.28M
Total Debt+35.85M47.99M72.6M61.84M103.04M72.86M76.76M
Net Debt35.35M43.38M65.16M48.92M73.02M54.48M57.91M
Debt / Equity0.93x1.99x-1.03x1.91x1.20x1.21x
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-1.58M59.93M53.98M60.7M63.49M
Equity Growth %--0.37%-1.07%38.83%-0.1%0.12%0.05%
Book Value per Share0.990.62-0.041.501.321.331.34
Total Shareholders' Equity38.6M24.17M-16K61.13M53.67M53.74M57.61M
Common Stock3.92M7.33M3.77M398K437K470K478K
Retained Earnings34.67M16.83M-3.78M-54.48M-94.07M-125.2M-132M
Treasury Stock0000000
Accumulated OCI0000000
Minority Interest00-1.57M-1.2M308K6.96M5.88M

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+12.59M10.92M96.19M-55.68M-14.3M10.08M18.46M
Operating CF Margin %0.1%0.08%0.68%-0.34%-0.07%0.04%0.05%
Operating CF Growth %--0.13%7.81%-1.58%0.74%1.71%0.83%
Net Income-65K-16.42M-19.71M-47.4M-36.87M-25.09M-2.52M
Depreciation & Amortization15.09M16.66M18.87M27.37M28.19M28.93M18.69M
Stock-Based Compensation3.11M4.17M2.64M12.53M8.61M6.86M8.17M
Deferred Taxes-1.2M-3.83M2.39M-7.06M244K-560K-496K
Other Non-Cash Items36.22M6.97M-7.74M-6.97M2.83M3.06M1.82M
Working Capital Changes-2.35M3.37M99.76M-34.15M-17.3M-3.11M-7.21M
Change in Receivables-4.49M-42.47M31.45M-9.39M-11.6M-33.37M20.2M
Change in Inventory-3.45M2.04M-11.18M-3.77M-9.22M-1.94M805K
Change in Payables3.02M-595K12.08M-5.91M20.98M0-10.39M
Cash from Investing+-4.28M-7.37M-88.18M-29.82M-17.45M-10.49M-11.21M
Capital Expenditures-5.55M-8.46M-85.77M-30.76M-17.05M-8.62M-7.94M
CapEx % of Revenue0.04%0.06%0.61%0.19%0.08%0.03%0.02%
Acquisitions-------
Investments-------
Other Investing1.21M1.09M-2.41M939K-400K-1.87M-3.26M
Cash from Financing+-7.82M552K-5.19M90.98M48.86M-11.23M-6.79M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid00-2.47M-2.92M000
Share Repurchases-------
Other Financing-11.03M-9.94M13.67M-2.12M-5.19M945K-8.36M
Net Change in Cash-------
Free Cash Flow+7.04M1.96M6.34M-87.66M-31.75M-408K7.2M
FCF Margin %0.05%0.01%0.05%-0.54%-0.15%-0%0.02%
FCF Growth %--0.72%2.24%-14.82%0.64%0.99%18.65%
FCF per Share0.180.050.16-2.20-0.78-0.010.15
FCF Conversion (FCF/Net Income)-193.75x-0.67x-4.67x1.10x0.36x-0.33x-2.72x
Interest Paid04.73M4.44M2.74M4.44M8.76M6.55M
Taxes Paid01.38M149K2.92M3K6K112K

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)-0.17%-52.32%-182.59%-173.79%-69.52%-53.64%-10.94%
Return on Invested Capital (ROIC)14.15%-9.51%-9.89%-49.68%-18.93%-9.16%4.16%
Gross Margin23.71%18.54%16.16%-4.59%12.19%20.68%20.34%
Net Margin-0.05%-12.01%-14.68%-31.13%-18.59%-10.73%-1.98%
Debt / Equity0.93x1.99x-1.03x1.91x1.20x1.21x
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
Revenue Growth-3.45%2.72%15.96%30.76%34.63%19.39%

Revenue by Segment

2021202220232024
Advanced Technology Services, Fixed Price58.7M48.79M83.89M93.5M
Advanced Technology Services, Fixed Price Growth--16.90%71.96%11.45%
Wafer Services51.16M73.5M61.13M26.86M
Wafer Services Growth-43.67%-16.83%-56.06%
Advanced Technology Services, Other4.67M4.67M4.67M4.67M
Advanced Technology Services, Other Growth-0.00%0.00%0.00%
Advanced Technology Services, Time And Materials48.32M85.99M122.34M-
Advanced Technology Services, Time And Materials Growth-77.97%42.27%-
Advanced Technology Services111.69M139.45M--
Advanced Technology Services Growth-24.85%--

Revenue by Geography

2021202220232024
UNITED STATES141.11M184.91M261.27M329.05M
UNITED STATES Growth-31.04%41.30%25.94%
CANADA6.22M4.13M8.33M8.2M
CANADA Growth--33.48%101.38%-1.56%
All Other Countries---3.07M
All Other Countries Growth----
HONG KONG--6.41M878K
HONG KONG Growth----86.29%
Other Countries--6.04M-
Other Countries Growth----
Others Countries6.3M16.75M--
Others Countries Growth-165.89%--

Frequently Asked Questions

Growth & Financials

SkyWater Technology, Inc. (SKYT) reported $346.6M in revenue for fiscal year 2024. This represents a 162% increase from $132.2M in 2018.

SkyWater Technology, Inc. (SKYT) grew revenue by 19.4% over the past year. This is strong growth.

Yes, SkyWater Technology, Inc. (SKYT) is profitable, generating $126.0M in net income for fiscal year 2024 (-2.0% net margin).

Dividend & Returns

SkyWater Technology, Inc. (SKYT) has a return on equity (ROE) of -10.9%. Negative ROE indicates the company is unprofitable.

SkyWater Technology, Inc. (SKYT) had negative free cash flow of $6.5M in fiscal year 2024, likely due to heavy capital investments.

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