Lattice Semiconductor Corporation (LSCC) 10-Year Financial Performance & Capital Metrics

LSCC • • Industrial / General

TechnologySemiconductorsDigital & Computing SemiconductorsProcessors & Microcontrollers

AboutLattice Semiconductor Corporation, together with its subsidiaries, develops and sells semiconductor products in Asia, Europe, and the Americas. The company offers field programmable gate arrays that consist of four product families, including the Certus-NX and ECP, Mach, iCE40, and CrossLink. It also provides video connectivity application specific standard products. In addition, the company licenses its technology portfolio through standard IP and IP core licensing, patent monetization, and IP services. It sells its products directly to end customers, and indirectly through a network of independent manufacturers' representatives and independent distributors. The company primarily serves original equipment manufacturers in the communications and computing, consumer, and industrial and automotive end markets. Lattice Semiconductor Corporation was incorporated in 1983 and is headquartered in Hillsboro, Oregon.Show more

Revenue $509M -30.9%
EBITDA $81M -68.2%
Net Income $61M -76.4%
EPS (Diluted) 0.44 -76.2%
Gross Margin 66.82% -4.3%
EBITDA Margin 15.85% -53.9%
Operating Margin 6.76% -76.5%
Net Margin 12% -65.9%
ROE 8.71% -80.2%
ROIC 4.42% -85.1%
Debt/Equity 0.02 -9.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 30.8%
✓FCF machine: 23.5% free cash flow margin
✓Momentum leader: RS Rating 85 (top 15%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 20.9%

✗Weaknesses

✗Expensive at 16.8x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.36%

5Y4.74%

3Y-0.38%

TTM-12.03%

Profit (Net Income) CAGR

10Y2.32%

5Y7.05%

3Y-13.94%

TTM-80.99%

EPS CAGR

10Y0.96%

5Y6.58%

3Y-13.08%

TTM-80.58%

ROCE

10Y Avg6.88%

5Y Avg17.92%

3Y Avg21.22%

Latest4.63%

Peer Comparison

Processors & Microcontrollers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AMDAdvanced Micro Devices, Inc.	359.75B	220.97	220.97	13.69%	10.32%	5.44%	0.67%	0.04
LSCCLattice Semiconductor Corporation	11.8B	86.30	196.14	-30.9%	5.5%	3.86%	1.02%	0.02
NVDANVIDIA Corporation	4.52T	185.81	63.20	114.2%	53.01%	83.43%	1.35%	0.13
ICGIntchains Group Limited	57.43M	2.00	1.16	242.68%	6.51%	1.97%		0.00
PXLWPixelworks, Inc.	40.91M	6.50	-1.11	-27.6%	-73.56%	-90.71%		0.09
NANano Labs Ltd	69.28M	3.42	-2.05	-48.18%	-261.01%	-10.18%		0.85
WKEYWISeKey International Holding AG	71.31M	8.86	-3.34	-61.59%	-108.66%	-28.31%		0.10
LAESSEALSQ Corp	764.6M	4.31	-6.34	-63.47%	-141.28%	-42.3%		0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	405.97M	427.05M	385.96M	398.8M	404.09M	408.12M	515.33M	660.36M	737.15M	509.4M
Revenue Growth %	0.11%	0.05%	-0.1%	0.03%	0.01%	0.01%	0.26%	0.28%	0.12%	-0.31%
Cost of Goods Sold+	186.06M	180.62M	169.38M	179.36M	165.67M	162.81M	193.65M	208.31M	222.48M	169M
COGS % of Revenue	0.46%	0.42%	0.44%	0.45%	0.41%	0.4%	0.38%	0.32%	0.3%	0.33%
Gross Profit+	219.91M	246.43M	216.58M	219.44M	238.42M	245.31M	321.68M	452.05M	514.67M	340.4M
Gross Margin %	0.54%	0.58%	0.56%	0.55%	0.59%	0.6%	0.62%	0.68%	0.7%	0.67%
Gross Profit Growth %	0.07%	0.12%	-0.12%	0.01%	0.09%	0.03%	0.31%	0.41%	0.14%	-0.34%
Operating Expenses+	263.8M	249.69M	225.41M	191.19M	179.38M	192.94M	220.86M	264.68M	302.4M	305.94M
OpEx % of Revenue	0.65%	0.58%	0.58%	0.48%	0.44%	0.47%	0.43%	0.4%	0.41%	0.6%
Selling, General & Admin	97.35M	98.6M	90.72M	91.05M	82.54M	95.33M	105.62M	122.08M	137.24M	116.94M
SG&A % of Revenue	0.24%	0.23%	0.24%	0.23%	0.2%	0.23%	0.2%	0.18%	0.19%	0.23%
Research & Development	136.87M	117.52M	103.36M	82.45M	78.62M	89.22M	110.52M	135.77M	159.77M	159.3M
R&D % of Revenue	0.34%	0.28%	0.27%	0.21%	0.19%	0.22%	0.21%	0.21%	0.22%	0.31%
Other Operating Expenses	-832K	4.3M	-3.29M	-249K	18.22M	8.39M	4.72M	6.84M	5.39M	29.7M
Operating Income+	-107.23M	-26.7M	-47.62M	-3.12M	59.04M	52.37M	100.82M	187.37M	212.27M	34.46M
Operating Margin %	-0.26%	-0.06%	-0.12%	-0.01%	0.15%	0.13%	0.2%	0.28%	0.29%	0.07%
Operating Income Growth %	-3.58%	0.75%	-0.78%	0.93%	19.92%	-0.11%	0.93%	0.86%	0.13%	-0.84%
EBITDA+	-77.65M	35.11M	10.24M	35.54M	97.89M	83.47M	131.83M	223.2M	253.47M	80.72M
EBITDA Margin %	-0.19%	0.08%	0.03%	0.09%	0.24%	0.2%	0.26%	0.34%	0.34%	0.16%
EBITDA Growth %	-2.74%	1.45%	-0.71%	2.47%	1.75%	-0.15%	0.58%	0.69%	0.14%	-0.68%
D&A (Non-Cash Add-back)	29.58M	61.81M	57.86M	38.66M	38.85M	31.1M	31.02M	35.84M	41.2M	46.27M
EBIT	-108.3M	-23.86M	-50.91M	-3.37M	56.8M	52.16M	102.93M	190.43M	214.18M	60.68M
Net Interest Income+	-18.39M	-20.33M	-18.81M	-20.6M	-11.73M	-3.7M	-2.74M	-4.15M	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	18.39M	20.33M	18.81M	20.6M	11.73M	3.7M	2.74M	4.15M	0	0
Other Income/Expense	-19.22M	-16.02M	-22.09M	-20.85M	-13.98M	-3.91M	-3.19M	-5.25M	2.59M	1.77M
Pretax Income+	-126.45M	-42.72M	-69.71M	-23.97M	45.06M	48.46M	97.63M	182.11M	214.86M	36.23M
Pretax Margin %	-0.31%	-0.1%	-0.18%	-0.06%	0.11%	0.12%	0.19%	0.28%	0.29%	0.07%
Income Tax+	32.54M	9.92M	849K	2.35M	1.57M	1.06M	1.7M	3.23M	-44.2M	-24.9M
Effective Tax Rate %	1.26%	1.27%	1.01%	1.1%	0.97%	0.98%	0.98%	0.98%	1.21%	1.69%
Net Income+	-159.23M	-54.1M	-70.56M	-26.32M	43.49M	47.39M	95.92M	178.88M	259.06M	61.13M
Net Margin %	-0.39%	-0.13%	-0.18%	-0.07%	0.11%	0.12%	0.19%	0.27%	0.35%	0.12%
Net Income Growth %	-4.28%	0.66%	-0.3%	0.63%	2.65%	0.09%	1.02%	0.86%	0.45%	-0.76%
Net Income (Continuing)	-159.23M	-52.64M	-70.56M	-26.32M	43.49M	47.39M	95.92M	178.88M	259.06M	61.13M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.36	-0.45	-0.58	-0.21	0.32	0.34	0.67	1.27	1.85	0.44
EPS Growth %	-4.4%	0.67%	-0.29%	0.64%	2.52%	0.06%	0.97%	0.9%	0.46%	-0.76%
EPS (Basic)	-1.36	-0.45	-0.58	-0.21	0.33	0.35	0.70	1.30	1.88	0.44
Diluted Shares Outstanding	117.39M	119.99M	122.68M	126.56M	137.27M	141.28M	142.14M	140.67M	139.79M	138.32M
Basic Shares Outstanding	117.08M	119.99M	121.66M	125.34M	132.47M	135.22M	136.62M	137.32M	137.69M	137.62M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	285.86M	314.7M	263.37M	284.42M	262.43M	333.84M	301.35M	379.17M	367.95M	364.83M
Cash & Short-Term Investments	102.57M	116.86M	111.8M	128.68M	118.08M	182.33M	131.57M	145.72M	128.32M	136.29M
Cash Only	102.57M	116.86M	111.8M	119.05M	118.08M	182.33M	131.57M	145.72M	128.32M	136.29M
Short-Term Investments	0	0	0	9.62M	0	0	0	0	0	0
Accounts Receivable	88.47M	99.64M	55.1M	60.89M	64.92M	64.58M	79.86M	94.02M	104.37M	81.06M
Days Sales Outstanding	79.54	85.16	52.11	55.73	58.64	57.76	56.56	51.97	51.68	58.08
Inventory	75.9M	79.17M	79.9M	67.1M	54.98M	64.6M	67.59M	110.38M	98.83M	103.41M
Days Inventory Outstanding	148.89	159.98	172.18	136.54	121.13	144.82	127.4	193.4	162.13	223.34
Other Current Assets	0	0	0	0	0	0	0	29.05M	36.43M	17.88M
Total Non-Current Assets+	500.06M	452.18M	372.59M	339.26M	349.59M	346.22M	425.14M	419.55M	472.95M	479.07M
Property, Plant & Equipment	51.85M	49.48M	40.42M	34.88M	62.82M	61.84M	61.91M	65.2M	64.03M	66.86M
Fixed Asset Turnover	7.83x	8.63x	9.55x	11.43x	6.43x	6.60x	8.32x	10.13x	11.51x	7.62x
Goodwill	267.55M	269.76M	267.51M	267.51M	267.51M	267.51M	315.36M	315.36M	315.36M	315.36M
Intangible Assets	162.58M	118.86M	51.31M	21.32M	6.98M	6.32M	29.78M	25.07M	20.97M	4.59M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	17.5M	13.71M	13.15M	15.33M	11.8M	9.97M	18.09M	12.89M	14.82M	25.29M
Total Assets+	785.92M	766.88M	635.96M	623.69M	612.02M	680.07M	726.49M	798.71M	840.89M	843.9M
Asset Turnover	0.52x	0.56x	0.61x	0.64x	0.66x	0.60x	0.71x	0.83x	0.88x	0.60x
Asset Growth %	0.54%	-0.02%	-0.17%	-0.02%	-0.02%	0.11%	0.07%	0.1%	0.05%	0%
Total Current Liabilities+	111.18M	139.65M	83.65M	69.42M	99.81M	79.73M	106.18M	127.37M	97.4M	99.62M
Accounts Payable	18.62M	37.8M	35.35M	31.88M	44.35M	27.53M	34.6M	42.04M	34.49M	36.83M
Days Payables Outstanding	36.52	76.39	76.18	64.88	97.71	61.72	65.21	73.66	56.58	79.54
Short-Term Debt	7.56M	33.77M	1.51M	8.29M	21.47M	12.76M	17.17M	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	0	0	0	0	0	0
Current Ratio	2.57x	2.25x	3.15x	4.10x	2.63x	4.19x	2.84x	2.98x	3.78x	3.66x
Quick Ratio	1.89x	1.69x	2.19x	3.13x	2.08x	3.38x	2.20x	2.11x	2.76x	2.62x
Cash Conversion Cycle	191.91	168.76	148.12	127.39	82.06	140.86	118.76	171.71	157.23	201.88
Total Non-Current Liabilities+	369.22M	356.81M	334.62M	295.81M	184.54M	215.91M	208.68M	184.18M	51.47M	33.35M
Long-Term Debt	330.87M	300.86M	299.67M	251.36M	125.07M	157.93M	140.76M	128.75M	0	0
Capital Lease Obligations	0	0	0	0	21.44M	18.91M	19.25M	13.62M	10.74M	9.43M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	38.35M	38.05M	34.95M	44.45M	38.03M	39.07M	48.67M	41.81M	33.07M	7.89M
Total Liabilities	480.4M	496.45M	418.27M	365.23M	284.36M	295.64M	314.86M	311.55M	148.87M	132.97M
Total Debt+	338.43M	334.62M	301.18M	259.65M	172.67M	193.75M	182.88M	148.82M	16.31M	15.25M
Net Debt	253.82M	228.07M	194.36M	140.6M	54.59M	11.42M	51.31M	3.1M	-112.01M	-121.04M
Debt / Equity	1.11x	1.24x	1.38x	1.00x	0.53x	0.50x	0.44x	0.31x	0.02x	0.02x
Debt / EBITDA	-	9.53x	29.41x	7.31x	1.76x	2.32x	1.39x	0.67x	0.06x	0.19x
Net Debt / EBITDA	-	6.50x	18.98x	3.96x	0.56x	0.14x	0.39x	0.01x	-0.44x	-1.50x
Interest Coverage	-5.83x	-1.31x	-2.53x	-0.15x	5.03x	14.15x	36.82x	45.19x	-	-
Total Equity+	305.52M	270.43M	217.69M	258.46M	327.67M	384.43M	411.63M	487.16M	692.02M	710.93M
Equity Growth %	-0.31%	-0.11%	-0.2%	0.19%	0.27%	0.17%	0.07%	0.18%	0.42%	0.03%
Book Value per Share	2.60	2.25	1.77	2.04	2.39	2.72	2.90	3.46	4.95	5.14
Total Shareholders' Equity	305.52M	270.43M	217.69M	258.46M	327.67M	384.43M	411.63M	487.16M	692.02M	710.93M
Common Stock	1.19M	1.22M	1.24M	1.3M	1.34M	1.36M	1.37M	1.37M	1.37M	1.38M
Retained Earnings	-352.85M	-406.94M	-477.86M	-476.78M	-433.29M	-385.9M	-289.98M	-111.09M	147.97M	209.1M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.91M	-4.16M	-1.45M	-2.33M	-2.6M	-1.75M	-1.45M	-2.41M	-2.91M	-3.84M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-22.89M	41.73M	38.51M	51.46M	124.14M	91.69M	167.72M	238.81M	269.59M	140.88M
Operating CF Margin %	-0.06%	0.1%	0.1%	0.13%	0.31%	0.22%	0.33%	0.36%	0.37%	0.28%
Operating CF Growth %	-1.57%	2.82%	-0.08%	0.34%	1.41%	-0.26%	0.83%	0.42%	0.13%	-0.48%
Net Income	-159.49M	-54.1M	-70.56M	-26.32M	43.49M	47.39M	95.92M	178.88M	259.06M	61.13M
Depreciation & Amortization	60.81M	61.81M	57.86M	39.26M	33.06M	25.14M	24.43M	29.32M	41.2M	46.27M
Stock-Based Compensation	18.4M	16.21M	12.54M	13.65M	18.9M	40.37M	46.48M	55.53M	70.2M	52.98M
Deferred Taxes	21.37M	90K	-154K	-96K	0	0	-324K	-1.42M	-58.61M	-12.07M
Other Non-Cash Items	25.32M	8.52M	33.15M	14.73M	10.29M	6.1M	6.67M	9.72M	253K	4.27M
Working Capital Changes	10.71M	9.2M	5.68M	10.24M	18.39M	-27.32M	-5.45M	-33.23M	-42.51M	-11.71M
Change in Receivables	4.58M	-11.42M	44.61M	-3.98M	-4.03M	336K	-12.01M	-14.16M	-10.36M	23.31M
Change in Inventory	9.87M	-3.27M	-902K	13.18M	12.12M	-9.62M	-3M	-42.78M	11.55M	-4.58M
Change in Payables	6.55M	8.34M	-23.59M	13.32M	9.26M	-16.82M	7.05M	7.44M	-7.55M	2.34M
Cash from Investing+	-336.82M	-17.37M	-8.26M	-21.11M	-15.54M	-20.87M	-89.8M	-34.93M	-33.25M	-37.69M
Capital Expenditures	-27.72M	-25.75M	-22.39M	-16.51M	-15.59M	-12.12M	-9.84M	-23.34M	-33.25M	-20.98M
CapEx % of Revenue	0.07%	0.06%	0.06%	0.04%	0.04%	0.03%	0.02%	0.04%	0.05%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	112.46M	1.97M	7.89M	-8.11M	-9.6M	-8.75M	-11.86M	-11.59M	0	-16.71M
Cash from Financing+	329.94M	-1.11M	-32.61M	-16.84M	-109.91M	-8.1M	-128.61M	-188.07M	-253.72M	-94.46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-12.64M	-3.56M	-3.27M	-2.37M	-10.08M	-26.96M	-54.19M	-54.95M	-52.08M	-33.65M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-50.61M	15.98M	16.12M	34.95M	108.55M	79.57M	157.89M	215.47M	236.34M	119.89M
FCF Margin %	-0.12%	0.04%	0.04%	0.09%	0.27%	0.19%	0.31%	0.33%	0.32%	0.24%
FCF Growth %	-2.7%	1.32%	0.01%	1.17%	2.11%	-0.27%	0.98%	0.36%	0.1%	-0.49%
FCF per Share	-0.43	0.13	0.13	0.28	0.79	0.56	1.11	1.53	1.69	0.87
FCF Conversion (FCF/Net Income)	0.14x	-0.77x	-0.55x	-1.95x	2.85x	1.93x	1.75x	1.33x	1.04x	2.30x
Interest Paid	11.07M	18.16M	20.65M	18.61M	10.99M	3.7M	2.31M	3.97M	3.24M	0
Taxes Paid	8.34M	9.36M	2.39M	3.05M	3.39M	1.87M	3.3M	4.62M	15.75M	8.59M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-42.66%	-18.79%	-28.91%	-11.06%	14.84%	13.31%	24.1%	39.8%	43.94%	8.71%
Return on Invested Capital (ROIC)	-22.11%	-3.89%	-7.98%	-0.58%	11.34%	10.09%	17.61%	29.48%	29.75%	4.42%
Gross Margin	54.17%	57.71%	56.11%	55.02%	59%	60.11%	62.42%	68.46%	69.82%	66.82%
Net Margin	-39.22%	-12.67%	-18.28%	-6.6%	10.76%	11.61%	18.61%	27.09%	35.14%	12%
Debt / Equity	1.11x	1.24x	1.38x	1.00x	0.53x	0.50x	0.44x	0.31x	0.02x	0.02x
Interest Coverage	-5.83x	-1.31x	-2.53x	-0.15x	5.03x	14.15x	36.82x	45.19x	-	-
FCF Conversion	0.14x	-0.77x	-0.55x	-1.95x	2.85x	1.93x	1.75x	1.33x	1.04x	2.30x
Revenue Growth	10.88%	5.19%	-9.62%	3.33%	1.33%	1%	26.27%	28.14%	11.63%	-30.9%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
License and Service	-	-	-	-	21.55M	19.62M	20.48M	17.14M	-	-
License and Service Growth	-	-	-	-	-	-8.94%	4.37%	-16.29%	-	-
Product Revenue, Distributors	-	-	-	330.72M	331.94M	-	-	-	-	-
Product Revenue, Distributors Growth	-	-	-	-	0.37%	-	-	-	-	-
Product Revenue, Direct	-	-	-	49.75M	50.61M	-	-	-	-	-
Product Revenue, Direct Growth	-	-	-	-	1.72%	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asia	-	-	-	-	298.76M	305.18M	384.57M	464.9M	443.76M	332.75M
Asia Growth	-	-	-	-	-	2.15%	26.01%	20.89%	-4.55%	-25.02%
Americas	-	-	-	-	57.94M	62.14M	80.87M	100.26M	145.84M	101.22M
Americas Growth	-	-	-	-	-	7.25%	30.15%	23.98%	45.46%	-30.60%
Europe	55.6M	59.84M	44.55M	45.55M	47.39M	40.8M	49.89M	95.19M	147.55M	75.44M
Europe Growth	-	7.62%	-25.55%	2.24%	4.05%	-13.91%	22.28%	90.81%	55.00%	-48.87%
Countries Other Than United States	-	-	337.65M	360.21M	-	-	-	-	-	-
Countries Other Than United States Growth	-	-	-	6.68%	-	-	-	-	-	-
Asia, Other	85.6M	78.05M	26.92M	34.98M	-	-	-	-	-	-
Asia, Other Growth	-	-8.82%	-65.51%	29.96%	-	-	-	-	-	-
Americas, Other	8.16M	10.37M	15.46M	16.55M	-	-	-	-	-	-
Americas, Other Growth	-	27.15%	49.04%	7.04%	-	-	-	-	-	-
Foreign	372.29M	375.3M	-	-	-	-	-	-	-	-
Foreign Growth	-	0.81%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Lattice Semiconductor Corporation (LSCC) has a price-to-earnings (P/E) ratio of 196.1x. This suggests investors expect higher future growth.

Growth & Financials

Lattice Semiconductor Corporation (LSCC) reported $494.9M in revenue for fiscal year 2024. This represents a 55% increase from $318.4M in 2011.

Lattice Semiconductor Corporation (LSCC) saw revenue decline by 30.9% over the past year.

Yes, Lattice Semiconductor Corporation (LSCC) is profitable, generating $27.2M in net income for fiscal year 2024 (12.0% net margin).

Dividend & Returns

Lattice Semiconductor Corporation (LSCC) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Lattice Semiconductor Corporation (LSCC) generated $123.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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