Silicom Ltd. (SILC) 10-Year Financial Performance & Capital Metrics

SILC • • Industrial / General

TechnologyCommunication EquipmentEnterprise Networking & Unified CommunicationsEnterprise Network Equipment

AboutSilicom Ltd., together with its subsidiaries, designs, manufactures, markets, and supports networking and data infrastructure solutions for a range of servers, server-based systems, and communications devices in the United States, North America, Israel, Europe, and the Asia Pacific. It offers server network interface cards; and smart cards, such as smart server adapters, which include redirector and switching cards, encryption and data compression hardware acceleration cards, forward error correction acceleration and offloading cards, time synchronization cards, and field programmable gate array-based cards. The company also provides virtualized and universal customer-premises equipment; edge devices for SD-WAN and NFV deployments; and distributed units for the 5G mobile infrastructure market. It serves original equipment manufacturing, cloud, telco, mobile, and related service provider customers. The company was incorporated in 1987 and is headquartered in Kfar Sava, Israel.Show more

Revenue $58M -53.2%
EBITDA -$11M +57.7%
Net Income -$14M +48.1%
EPS (Diluted) -2.28 +42.1%
Gross Margin 28.56% +23.6%
EBITDA Margin -19.05% +9.7%
Operating Margin -22.85% +1.1%
Net Margin -23.59% -10.9%
ROE -9.93% +38.4%
ROIC -10.47% +35.8%
Debt/Equity 0.05 +26.1%
Interest Coverage -1207.09 -89.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 29.9% free cash flow margin
✓Share count reduced 10.2% through buybacks
✓Trading at only 0.7x book value

✗Weaknesses

✗Sales declining 11.2% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.6%

5Y-11.2%

3Y-23.23%

TTM-24.5%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM61.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM55.84%

ROCE

10Y Avg6.16%

5Y Avg-0.64%

3Y Avg-4.9%

Latest-9.15%

Peer Comparison

Enterprise Network Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NTGRNETGEAR, Inc.	644.17M	22.68	54	-9.05%	-3.73%	-5.15%	24.19%	0.06
CSCOCisco Systems, Inc.	297.32B	75.25	29.51	5.3%	17.9%	22.04%	4.47%	0.63
SILCSilicom Ltd.	88.97M	15.68	-6.88	-53.18%	-25.41%	-12.24%	19.51%	0.05
EXTRExtreme Networks, Inc.	2.15B	16.09	-285.28	2.05%	0.81%	13.88%	5.92%	3.41
HPEHewlett Packard Enterprise Company	29.29B	21.95	-492.15	13.84%	0.17%	0.23%	2.14%	0.90

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	82.74M	100.35M	125.69M	133.75M	105.24M	107.4M	128.46M	150.58M	124.13M	58.11M
Revenue Growth %	0.09%	0.21%	0.25%	0.06%	-0.21%	0.02%	0.2%	0.17%	-0.18%	-0.53%
Cost of Goods Sold+	48.66M	61.8M	79.76M	91.7M	69.15M	73.63M	84.07M	98.63M	95.44M	41.52M
COGS % of Revenue	0.59%	0.62%	0.63%	0.69%	0.66%	0.69%	0.65%	0.65%	0.77%	0.71%
Gross Profit+	34.08M	38.55M	45.93M	42.06M	36.09M	33.77M	44.39M	51.96M	28.69M	16.6M
Gross Margin %	0.41%	0.38%	0.37%	0.31%	0.34%	0.31%	0.35%	0.35%	0.23%	0.29%
Gross Profit Growth %	0.11%	0.13%	0.19%	-0.08%	-0.14%	-0.06%	0.31%	0.17%	-0.45%	-0.42%
Operating Expenses+	18.96M	23.05M	25.14M	25.41M	25.88M	27.52M	31.33M	32.03M	57.36M	29.88M
OpEx % of Revenue	0.23%	0.23%	0.2%	0.19%	0.25%	0.26%	0.24%	0.21%	0.46%	0.51%
Selling, General & Admin	9.26M	10.39M	11.23M	10.59M	10.81M	10.27M	11.24M	11.47M	11.16M	10.37M
SG&A % of Revenue	0.11%	0.1%	0.09%	0.08%	0.1%	0.1%	0.09%	0.08%	0.09%	0.18%
Research & Development	9.7M	12.66M	13.91M	14.82M	15.07M	17.24M	20.09M	20.56M	20.64M	19.51M
R&D % of Revenue	0.12%	0.13%	0.11%	0.11%	0.14%	0.16%	0.16%	0.14%	0.17%	0.34%
Other Operating Expenses	0	0	0	0	0	0	0	0	25.56M	0
Operating Income+	18.2M	15.83M	25.43M	16.65M	10.21M	6.25M	13.06M	19.93M	-28.67M	-13.28M
Operating Margin %	0.22%	0.16%	0.2%	0.12%	0.1%	0.06%	0.1%	0.13%	-0.23%	-0.23%
Operating Income Growth %	0.07%	-0.13%	0.61%	-0.35%	-0.39%	-0.39%	1.09%	0.53%	-2.44%	0.54%
EBITDA+	20.97M	19.69M	29.23M	19.94M	12.21M	8.63M	15.49M	22.34M	-26.18M	-11.07M
EBITDA Margin %	0.25%	0.2%	0.23%	0.15%	0.12%	0.08%	0.12%	0.15%	-0.21%	-0.19%
EBITDA Growth %	0.16%	-0.06%	0.48%	-0.32%	-0.39%	-0.29%	0.79%	0.44%	-2.17%	0.58%
D&A (Non-Cash Add-back)	2.77M	3.86M	3.8M	3.29M	2M	2.38M	2.44M	2.42M	2.5M	2.21M
EBIT	15.12M	15.5M	20.78M	16.65M	10.21M	6.25M	13.06M	19.93M	-3.11M	-13.28M
Net Interest Income+	368K	271K	201K	715K	2M	1.78M	879K	1.07M	1.21M	2.59M
Interest Income	465K	393K	310K	808K	2.15M	1.95M	927K	1.14M	1.25M	2.6M
Interest Expense	97K	122K	109K	93K	148K	171K	48K	74K	45K	11K
Other Income/Expense	220K	35K	156K	923K	1.65M	1.03M	-152K	2.46M	1.37M	1.96M
Pretax Income+	18.43M	15.87M	25.58M	17.57M	11.86M	7.28M	12.9M	22.39M	-27.3M	-11.32M
Pretax Margin %	0.22%	0.16%	0.2%	0.13%	0.11%	0.07%	0.1%	0.15%	-0.22%	-0.19%
Income Tax+	1.91M	2.73M	3.87M	2.94M	1.62M	1.56M	2.36M	4.08M	-889K	2.39M
Effective Tax Rate %	0.9%	0.83%	0.85%	0.83%	0.86%	0.79%	0.82%	0.82%	0.97%	1.21%
Net Income+	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
Net Margin %	0.2%	0.13%	0.17%	0.11%	0.1%	0.05%	0.08%	0.12%	-0.21%	-0.24%
Net Income Growth %	0.13%	-0.2%	0.65%	-0.33%	-0.3%	-0.44%	0.84%	0.74%	-2.44%	0.48%
Net Income (Continuing)	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
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)+	2.24	1.77	2.86	1.91	1.35	0.80	1.51	2.69	-3.94	-2.28
EPS Growth %	0.12%	-0.21%	0.62%	-0.33%	-0.29%	-0.41%	0.89%	0.78%	-2.46%	0.42%
EPS (Basic)	2.27	1.79	2.91	1.94	1.36	0.80	1.54	2.73	-3.94	-2.28
Diluted Shares Outstanding	7.37M	7.43M	7.6M	7.66M	7.57M	7.16M	6.97M	6.8M	6.7M	6.02M
Basic Shares Outstanding	7.27M	7.34M	7.46M	7.55M	7.52M	7.12M	6.83M	6.7M	6.7M	6.02M
Dividend Payout Ratio	0.44%	0.56%	0.34%	0.5%	-	-	-	-	-	-

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+	79.23M	103.3M	123.45M	104.08M	110.45M	136.23M	149.12M	153.62M	135.13M	129.79M
Cash & Short-Term Investments	26.81M	28.18M	24.77M	28.41M	44.06M	60.79M	37.55M	34.75M	54.93M	72.14M
Cash Only	18.18M	11.92M	17.02M	26.81M	16.47M	20.68M	29.29M	30.73M	46.97M	51.28M
Short-Term Investments	8.64M	16.26M	7.75M	1.6M	27.59M	40.12M	8.27M	4.02M	7.96M	20.86M
Accounts Receivable	25.15M	30.84M	46.1M	27.16M	28.54M	21.66M	34.71M	29.52M	27.73M	15.27M
Days Sales Outstanding	110.94	112.16	133.88	74.12	98.99	73.61	98.63	71.56	81.53	95.93
Inventory	26.32M	44.28M	51.49M	42.37M	36.49M	47.65M	75.75M	87.98M	51.64M	41.06M
Days Inventory Outstanding	197.44	261.54	235.61	168.65	192.62	236.21	328.88	325.62	197.5	360.99
Other Current Assets	950K	0	555K	5.26M	0	5.65M	0	0	0	184K
Total Non-Current Assets+	60.77M	43.14M	39.16M	78.22M	84.62M	59.66M	70.49M	62.58M	32.61M	20.62M
Property, Plant & Equipment	3.83M	3.92M	4.12M	3.67M	7.36M	14.02M	13.34M	12.93M	10.02M	10M
Fixed Asset Turnover	21.63x	25.63x	30.50x	36.44x	14.30x	7.66x	9.63x	11.65x	12.39x	5.81x
Goodwill	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	0	0
Intangible Assets	5.16M	2.92M	1.05M	966K	1.72M	1.17M	4.31M	6.71M	2.25M	2.3M
Long-Term Investments	24.25M	7.77M	5.95M	45.61M	46.54M	15.28M	23.77M	15.16M	16.62M	6.84M
Other Non-Current Assets	1.37M	1.44M	1.59M	1.52M	1.64M	3.62M	1.88M	1.72M	1.36M	1.48M
Total Assets+	140M	146.44M	162.61M	182.3M	195.06M	195.89M	219.6M	216.2M	167.73M	150.41M
Asset Turnover	0.59x	0.69x	0.77x	0.73x	0.54x	0.55x	0.58x	0.70x	0.74x	0.39x
Asset Growth %	0.14%	0.05%	0.11%	0.12%	0.07%	0%	0.12%	-0.02%	-0.22%	-0.1%
Total Current Liabilities+	19.81M	17.96M	19.05M	21.54M	26.33M	29.38M	50.31M	27.11M	12.88M	15.09M
Accounts Payable	8.54M	10.48M	12.62M	15.39M	16.42M	14.61M	29.92M	15.92M	4.14M	6.48M
Days Payables Outstanding	64.09	61.88	57.75	61.26	86.67	72.42	129.89	58.92	15.83	56.94
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.02M	7.48M	6.42M	6.13M	0	3.43M	6.56M	682K	465K	2.76M
Current Ratio	4.00x	5.75x	6.48x	4.83x	4.19x	4.64x	2.96x	5.67x	10.49x	8.60x
Quick Ratio	2.67x	3.29x	3.78x	2.86x	2.81x	3.02x	1.46x	2.42x	6.48x	5.88x
Cash Conversion Cycle	244.29	311.82	311.75	181.51	204.94	237.4	297.62	338.25	263.2	399.97
Total Non-Current Liabilities+	7.35M	7.08M	2.77M	2.61M	5.81M	11.67M	10.83M	9.79M	6.59M	7.48M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.69M	8.28M	7.38M	6.29M	3.88M	4.8M
Deferred Tax Liabilities	157K	353K	680K	1.02M	205K	0	10K	74K	46K	32K
Other Non-Current Liabilities	7.35M	7.08M	2.77M	2.61M	2.91M	3.39M	3.44M	3.42M	2.67M	2.65M
Total Liabilities	27.16M	25.05M	21.81M	24.15M	32.14M	41.05M	61.14M	36.9M	19.47M	22.57M
Total Debt+	0	0	0	0	3.78M	10.1M	9.19M	7.84M	5.95M	6.47M
Net Debt	-18.18M	-11.92M	-17.02M	-26.81M	-12.69M	-10.58M	-20.1M	-22.89M	-41.02M	-44.82M
Debt / Equity	-	-	-	-	0.02x	0.07x	0.06x	0.04x	0.04x	0.05x
Debt / EBITDA	-	-	-	-	0.31x	1.17x	0.59x	0.35x	-	-
Net Debt / EBITDA	-0.87x	-0.61x	-0.58x	-1.34x	-1.04x	-1.23x	-1.30x	-1.02x	-	-
Interest Coverage	187.68x	129.75x	233.27x	179.04x	69.01x	36.54x	272.02x	269.27x	-637.20x	-1207.09x
Total Equity+	112.83M	121.39M	140.8M	158.15M	162.92M	154.84M	158.46M	179.29M	148.26M	127.84M
Equity Growth %	0.12%	0.08%	0.16%	0.12%	0.03%	-0.05%	0.02%	0.13%	-0.17%	-0.14%
Book Value per Share	15.31	16.33	18.52	20.65	21.51	21.64	22.74	26.38	22.13	21.24
Total Shareholders' Equity	112.83M	121.39M	140.8M	158.15M	162.92M	154.84M	158.46M	179.29M	148.26M	127.84M
Common Stock	21K	22K	22K	22K	22K	22K	22K	22K	22K	22K
Retained Earnings	68.75M	74.58M	88.91M	103.54M	113.78M	119.5M	130.05M	147.61M	121.2M	107.49M
Treasury Stock	-38K	-38K	-38K	-38K	-8.01M	-24.81M	-34.99M	-34.9M	-43.63M	-53.51M
Accumulated OCI	-5.89M	-7.5M	-9.38M	-11.58M	0	0	0	0	0	0
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+	13.29M	-2.71M	1.41M	45.68M	26.73M	4.96M	1.08M	-4.09M	31.93M	18.29M
Operating CF Margin %	0.16%	-0.03%	0.01%	0.34%	0.25%	0.05%	0.01%	-0.03%	0.26%	0.31%
Operating CF Growth %	-0.36%	-1.2%	1.52%	31.44%	-0.41%	-0.81%	-0.78%	-4.79%	8.81%	-0.43%
Net Income	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
Depreciation & Amortization	2.77M	3.86M	3.8M	3.29M	2M	2.38M	2.44M	2.42M	2.5M	2.21M
Stock-Based Compensation	2M	1.55M	2.42M	2.42M	2.35M	2.71M	2.86M	3.58M	3.35M	3.17M
Deferred Taxes	-907K	-260K	453K	5K	-699K	-61K	48K	1.18M	-1.89M	0
Other Non-Cash Items	-2.42M	3.32M	-1.34M	6.16M	2.42M	3.48M	5.87M	2.98M	37.12M	5.71M
Working Capital Changes	-4.67M	-24.31M	-25.65M	19.16M	10.41M	-9.28M	-20.68M	-32.55M	17.25M	20.91M
Change in Receivables	-4.93M	-3.95M	-13.45M	17.25M	-1.08M	2.1M	-8.26M	3.69M	2.1M	12.15M
Change in Inventory	-939K	-21.43M	-10.29M	2.54M	3.53M	-13.34M	-33.53M	-15.29M	29.91M	6.58M
Change in Payables	226K	1.8M	1.7M	3.07M	751K	-2.08M	15.03M	-12.41M	-11.51M	2.15M
Cash from Investing+	-6.8M	7.13M	8.51M	-36.29M	-29.61M	15.43M	16.77M	8.27M	-7.52M	-4.28M
Capital Expenditures	-2.98M	-1.44M	-1.7M	-2.37M	-2.46M	-3.18M	-6.16M	-4.69M	-1.12M	-932K
CapEx % of Revenue	0.04%	0.01%	0.01%	0.02%	0.02%	0.03%	0.05%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	19K	8.57M	-11K	-1.02M	-1.02M	-1.49M	-3.57M	934K	-772K	-3.35M
Cash from Financing+	-6.33M	-10.82M	-4.73M	288K	-7.82M	-16.52M	-9.78M	-1.05M	-7.97M	-9.88M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-7.27M	-7.31M	-7.38M	-7.38M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	943K	-3.51M	2.65M	288K	154K	276K	4.51M	0	1.35M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	10.3M	-4.15M	-293K	43.31M	24.27M	1.77M	-5.08M	-8.78M	29.71M	17.36M
FCF Margin %	0.12%	-0.04%	-0%	0.32%	0.23%	0.02%	-0.04%	-0.06%	0.24%	0.3%
FCF Growth %	-0.45%	-1.4%	0.93%	148.82%	-0.44%	-0.93%	-3.86%	-0.73%	4.38%	-0.42%
FCF per Share	1.40	-0.56	-0.04	5.66	3.20	0.25	-0.73	-1.29	4.43	2.88
FCF Conversion (FCF/Net Income)	0.80x	-0.21x	0.06x	3.12x	2.61x	0.87x	0.10x	-0.22x	-1.21x	-1.33x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	4.49M	4.65M	4.58M	3.26M	1.1M	1.28M	2.37M	0	601K	917K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.47%	11.22%	16.56%	9.79%	6.38%	3.6%	6.73%	10.84%	-16.13%	-9.93%
Return on Invested Capital (ROIC)	15.38%	11.63%	16.35%	9.79%	5.44%	3.18%	6.93%	10.14%	-16.31%	-10.47%
Gross Margin	41.19%	38.42%	36.54%	31.44%	34.3%	31.44%	34.55%	34.5%	23.11%	28.56%
Net Margin	19.97%	13.09%	17.28%	10.94%	9.73%	5.33%	8.21%	12.16%	-21.28%	-23.59%
Debt / Equity	-	-	-	-	0.02x	0.07x	0.06x	0.04x	0.04x	0.05x
Interest Coverage	187.68x	129.75x	233.27x	179.04x	69.01x	36.54x	272.02x	269.27x	-637.20x	-1207.09x
FCF Conversion	0.80x	-0.21x	0.06x	3.12x	2.61x	0.87x	0.10x	-0.22x	-1.21x	-1.33x
Revenue Growth	9.41%	21.28%	25.26%	6.42%	-21.32%	2.05%	19.61%	17.22%	-17.57%	-53.18%

Revenue by Geography

	2012	2013	2014	2024
UNITED STATES	-	-	-	43.7M
UNITED STATES Growth	-	-	-	-
Europe	7.28M	9.26M	11.42M	6.22M
Europe Growth	-	27.21%	23.38%	-45.53%
Asia Pacific	-	-	10.49M	4.55M
Asia Pacific Growth	-	-	-	-56.62%
ISRAEL	-	-	-	3.37M
ISRAEL Growth	-	-	-	-
North America	33.61M	55.66M	53.71M	280K
North America Growth	-	65.61%	-3.49%	-99.48%
Rest Of World	7.85M	8.39M	-	-
Rest Of World Growth	-	6.88%	-	-

Frequently Asked Questions

Growth & Financials

Silicom Ltd. (SILC) reported $58.7M in revenue for fiscal year 2024. This represents a 48% increase from $39.6M in 2011.

Silicom Ltd. (SILC) saw revenue decline by 53.2% over the past year.

Silicom Ltd. (SILC) reported a net loss of $14.9M for fiscal year 2024.

Dividend & Returns

Silicom Ltd. (SILC) has a return on equity (ROE) of -9.9%. Negative ROE indicates the company is unprofitable.

Silicom Ltd. (SILC) generated $17.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Silicom Ltd. (SILC) 10-Year Financial Performance & Capital Metrics

SILC • • Industrial / General

TechnologyCommunication EquipmentEnterprise Networking & Unified CommunicationsEnterprise Network Equipment

Revenue $58M -53.2%
EBITDA -$11M +57.7%
Net Income -$14M +48.1%
EPS (Diluted) -2.28 +42.1%
Gross Margin 28.56% +23.6%
EBITDA Margin -19.05% +9.7%
Operating Margin -22.85% +1.1%
Net Margin -23.59% -10.9%
ROE -9.93% +38.4%
ROIC -10.47% +35.8%
Debt/Equity 0.05 +26.1%
Interest Coverage -1207.09 -89.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 29.9% free cash flow margin
✓Share count reduced 10.2% through buybacks
✓Trading at only 0.7x book value

✗Weaknesses

✗Sales declining 11.2% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.6%

5Y-11.2%

3Y-23.23%

TTM-24.5%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM61.49%

EPS CAGR

10Y-

5Y-

3Y-

TTM55.84%

ROCE

10Y Avg6.16%

5Y Avg-0.64%

3Y Avg-4.9%

Latest-9.15%

Peer Comparison

Enterprise Network Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NTGRNETGEAR, Inc.	644.17M	22.68	54	-9.05%	-3.73%	-5.15%	24.19%	0.06
CSCOCisco Systems, Inc.	297.32B	75.25	29.51	5.3%	17.9%	22.04%	4.47%	0.63
SILCSilicom Ltd.	88.97M	15.68	-6.88	-53.18%	-25.41%	-12.24%	19.51%	0.05
EXTRExtreme Networks, Inc.	2.15B	16.09	-285.28	2.05%	0.81%	13.88%	5.92%	3.41
HPEHewlett Packard Enterprise Company	29.29B	21.95	-492.15	13.84%	0.17%	0.23%	2.14%	0.90

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	82.74M	100.35M	125.69M	133.75M	105.24M	107.4M	128.46M	150.58M	124.13M	58.11M
Revenue Growth %	0.09%	0.21%	0.25%	0.06%	-0.21%	0.02%	0.2%	0.17%	-0.18%	-0.53%
Cost of Goods Sold+	48.66M	61.8M	79.76M	91.7M	69.15M	73.63M	84.07M	98.63M	95.44M	41.52M
COGS % of Revenue	0.59%	0.62%	0.63%	0.69%	0.66%	0.69%	0.65%	0.65%	0.77%	0.71%
Gross Profit+	34.08M	38.55M	45.93M	42.06M	36.09M	33.77M	44.39M	51.96M	28.69M	16.6M
Gross Margin %	0.41%	0.38%	0.37%	0.31%	0.34%	0.31%	0.35%	0.35%	0.23%	0.29%
Gross Profit Growth %	0.11%	0.13%	0.19%	-0.08%	-0.14%	-0.06%	0.31%	0.17%	-0.45%	-0.42%
Operating Expenses+	18.96M	23.05M	25.14M	25.41M	25.88M	27.52M	31.33M	32.03M	57.36M	29.88M
OpEx % of Revenue	0.23%	0.23%	0.2%	0.19%	0.25%	0.26%	0.24%	0.21%	0.46%	0.51%
Selling, General & Admin	9.26M	10.39M	11.23M	10.59M	10.81M	10.27M	11.24M	11.47M	11.16M	10.37M
SG&A % of Revenue	0.11%	0.1%	0.09%	0.08%	0.1%	0.1%	0.09%	0.08%	0.09%	0.18%
Research & Development	9.7M	12.66M	13.91M	14.82M	15.07M	17.24M	20.09M	20.56M	20.64M	19.51M
R&D % of Revenue	0.12%	0.13%	0.11%	0.11%	0.14%	0.16%	0.16%	0.14%	0.17%	0.34%
Other Operating Expenses	0	0	0	0	0	0	0	0	25.56M	0
Operating Income+	18.2M	15.83M	25.43M	16.65M	10.21M	6.25M	13.06M	19.93M	-28.67M	-13.28M
Operating Margin %	0.22%	0.16%	0.2%	0.12%	0.1%	0.06%	0.1%	0.13%	-0.23%	-0.23%
Operating Income Growth %	0.07%	-0.13%	0.61%	-0.35%	-0.39%	-0.39%	1.09%	0.53%	-2.44%	0.54%
EBITDA+	20.97M	19.69M	29.23M	19.94M	12.21M	8.63M	15.49M	22.34M	-26.18M	-11.07M
EBITDA Margin %	0.25%	0.2%	0.23%	0.15%	0.12%	0.08%	0.12%	0.15%	-0.21%	-0.19%
EBITDA Growth %	0.16%	-0.06%	0.48%	-0.32%	-0.39%	-0.29%	0.79%	0.44%	-2.17%	0.58%
D&A (Non-Cash Add-back)	2.77M	3.86M	3.8M	3.29M	2M	2.38M	2.44M	2.42M	2.5M	2.21M
EBIT	15.12M	15.5M	20.78M	16.65M	10.21M	6.25M	13.06M	19.93M	-3.11M	-13.28M
Net Interest Income+	368K	271K	201K	715K	2M	1.78M	879K	1.07M	1.21M	2.59M
Interest Income	465K	393K	310K	808K	2.15M	1.95M	927K	1.14M	1.25M	2.6M
Interest Expense	97K	122K	109K	93K	148K	171K	48K	74K	45K	11K
Other Income/Expense	220K	35K	156K	923K	1.65M	1.03M	-152K	2.46M	1.37M	1.96M
Pretax Income+	18.43M	15.87M	25.58M	17.57M	11.86M	7.28M	12.9M	22.39M	-27.3M	-11.32M
Pretax Margin %	0.22%	0.16%	0.2%	0.13%	0.11%	0.07%	0.1%	0.15%	-0.22%	-0.19%
Income Tax+	1.91M	2.73M	3.87M	2.94M	1.62M	1.56M	2.36M	4.08M	-889K	2.39M
Effective Tax Rate %	0.9%	0.83%	0.85%	0.83%	0.86%	0.79%	0.82%	0.82%	0.97%	1.21%
Net Income+	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
Net Margin %	0.2%	0.13%	0.17%	0.11%	0.1%	0.05%	0.08%	0.12%	-0.21%	-0.24%
Net Income Growth %	0.13%	-0.2%	0.65%	-0.33%	-0.3%	-0.44%	0.84%	0.74%	-2.44%	0.48%
Net Income (Continuing)	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
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)+	2.24	1.77	2.86	1.91	1.35	0.80	1.51	2.69	-3.94	-2.28
EPS Growth %	0.12%	-0.21%	0.62%	-0.33%	-0.29%	-0.41%	0.89%	0.78%	-2.46%	0.42%
EPS (Basic)	2.27	1.79	2.91	1.94	1.36	0.80	1.54	2.73	-3.94	-2.28
Diluted Shares Outstanding	7.37M	7.43M	7.6M	7.66M	7.57M	7.16M	6.97M	6.8M	6.7M	6.02M
Basic Shares Outstanding	7.27M	7.34M	7.46M	7.55M	7.52M	7.12M	6.83M	6.7M	6.7M	6.02M
Dividend Payout Ratio	0.44%	0.56%	0.34%	0.5%	-	-	-	-	-	-

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+	79.23M	103.3M	123.45M	104.08M	110.45M	136.23M	149.12M	153.62M	135.13M	129.79M
Cash & Short-Term Investments	26.81M	28.18M	24.77M	28.41M	44.06M	60.79M	37.55M	34.75M	54.93M	72.14M
Cash Only	18.18M	11.92M	17.02M	26.81M	16.47M	20.68M	29.29M	30.73M	46.97M	51.28M
Short-Term Investments	8.64M	16.26M	7.75M	1.6M	27.59M	40.12M	8.27M	4.02M	7.96M	20.86M
Accounts Receivable	25.15M	30.84M	46.1M	27.16M	28.54M	21.66M	34.71M	29.52M	27.73M	15.27M
Days Sales Outstanding	110.94	112.16	133.88	74.12	98.99	73.61	98.63	71.56	81.53	95.93
Inventory	26.32M	44.28M	51.49M	42.37M	36.49M	47.65M	75.75M	87.98M	51.64M	41.06M
Days Inventory Outstanding	197.44	261.54	235.61	168.65	192.62	236.21	328.88	325.62	197.5	360.99
Other Current Assets	950K	0	555K	5.26M	0	5.65M	0	0	0	184K
Total Non-Current Assets+	60.77M	43.14M	39.16M	78.22M	84.62M	59.66M	70.49M	62.58M	32.61M	20.62M
Property, Plant & Equipment	3.83M	3.92M	4.12M	3.67M	7.36M	14.02M	13.34M	12.93M	10.02M	10M
Fixed Asset Turnover	21.63x	25.63x	30.50x	36.44x	14.30x	7.66x	9.63x	11.65x	12.39x	5.81x
Goodwill	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	25.56M	0	0
Intangible Assets	5.16M	2.92M	1.05M	966K	1.72M	1.17M	4.31M	6.71M	2.25M	2.3M
Long-Term Investments	24.25M	7.77M	5.95M	45.61M	46.54M	15.28M	23.77M	15.16M	16.62M	6.84M
Other Non-Current Assets	1.37M	1.44M	1.59M	1.52M	1.64M	3.62M	1.88M	1.72M	1.36M	1.48M
Total Assets+	140M	146.44M	162.61M	182.3M	195.06M	195.89M	219.6M	216.2M	167.73M	150.41M
Asset Turnover	0.59x	0.69x	0.77x	0.73x	0.54x	0.55x	0.58x	0.70x	0.74x	0.39x
Asset Growth %	0.14%	0.05%	0.11%	0.12%	0.07%	0%	0.12%	-0.02%	-0.22%	-0.1%
Total Current Liabilities+	19.81M	17.96M	19.05M	21.54M	26.33M	29.38M	50.31M	27.11M	12.88M	15.09M
Accounts Payable	8.54M	10.48M	12.62M	15.39M	16.42M	14.61M	29.92M	15.92M	4.14M	6.48M
Days Payables Outstanding	64.09	61.88	57.75	61.26	86.67	72.42	129.89	58.92	15.83	56.94
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.02M	7.48M	6.42M	6.13M	0	3.43M	6.56M	682K	465K	2.76M
Current Ratio	4.00x	5.75x	6.48x	4.83x	4.19x	4.64x	2.96x	5.67x	10.49x	8.60x
Quick Ratio	2.67x	3.29x	3.78x	2.86x	2.81x	3.02x	1.46x	2.42x	6.48x	5.88x
Cash Conversion Cycle	244.29	311.82	311.75	181.51	204.94	237.4	297.62	338.25	263.2	399.97
Total Non-Current Liabilities+	7.35M	7.08M	2.77M	2.61M	5.81M	11.67M	10.83M	9.79M	6.59M	7.48M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.69M	8.28M	7.38M	6.29M	3.88M	4.8M
Deferred Tax Liabilities	157K	353K	680K	1.02M	205K	0	10K	74K	46K	32K
Other Non-Current Liabilities	7.35M	7.08M	2.77M	2.61M	2.91M	3.39M	3.44M	3.42M	2.67M	2.65M
Total Liabilities	27.16M	25.05M	21.81M	24.15M	32.14M	41.05M	61.14M	36.9M	19.47M	22.57M
Total Debt+	0	0	0	0	3.78M	10.1M	9.19M	7.84M	5.95M	6.47M
Net Debt	-18.18M	-11.92M	-17.02M	-26.81M	-12.69M	-10.58M	-20.1M	-22.89M	-41.02M	-44.82M
Debt / Equity	-	-	-	-	0.02x	0.07x	0.06x	0.04x	0.04x	0.05x
Debt / EBITDA	-	-	-	-	0.31x	1.17x	0.59x	0.35x	-	-
Net Debt / EBITDA	-0.87x	-0.61x	-0.58x	-1.34x	-1.04x	-1.23x	-1.30x	-1.02x	-	-
Interest Coverage	187.68x	129.75x	233.27x	179.04x	69.01x	36.54x	272.02x	269.27x	-637.20x	-1207.09x
Total Equity+	112.83M	121.39M	140.8M	158.15M	162.92M	154.84M	158.46M	179.29M	148.26M	127.84M
Equity Growth %	0.12%	0.08%	0.16%	0.12%	0.03%	-0.05%	0.02%	0.13%	-0.17%	-0.14%
Book Value per Share	15.31	16.33	18.52	20.65	21.51	21.64	22.74	26.38	22.13	21.24
Total Shareholders' Equity	112.83M	121.39M	140.8M	158.15M	162.92M	154.84M	158.46M	179.29M	148.26M	127.84M
Common Stock	21K	22K	22K	22K	22K	22K	22K	22K	22K	22K
Retained Earnings	68.75M	74.58M	88.91M	103.54M	113.78M	119.5M	130.05M	147.61M	121.2M	107.49M
Treasury Stock	-38K	-38K	-38K	-38K	-8.01M	-24.81M	-34.99M	-34.9M	-43.63M	-53.51M
Accumulated OCI	-5.89M	-7.5M	-9.38M	-11.58M	0	0	0	0	0	0
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+	13.29M	-2.71M	1.41M	45.68M	26.73M	4.96M	1.08M	-4.09M	31.93M	18.29M
Operating CF Margin %	0.16%	-0.03%	0.01%	0.34%	0.25%	0.05%	0.01%	-0.03%	0.26%	0.31%
Operating CF Growth %	-0.36%	-1.2%	1.52%	31.44%	-0.41%	-0.81%	-0.78%	-4.79%	8.81%	-0.43%
Net Income	16.52M	13.14M	21.71M	14.64M	10.24M	5.72M	10.54M	18.31M	-26.41M	-13.71M
Depreciation & Amortization	2.77M	3.86M	3.8M	3.29M	2M	2.38M	2.44M	2.42M	2.5M	2.21M
Stock-Based Compensation	2M	1.55M	2.42M	2.42M	2.35M	2.71M	2.86M	3.58M	3.35M	3.17M
Deferred Taxes	-907K	-260K	453K	5K	-699K	-61K	48K	1.18M	-1.89M	0
Other Non-Cash Items	-2.42M	3.32M	-1.34M	6.16M	2.42M	3.48M	5.87M	2.98M	37.12M	5.71M
Working Capital Changes	-4.67M	-24.31M	-25.65M	19.16M	10.41M	-9.28M	-20.68M	-32.55M	17.25M	20.91M
Change in Receivables	-4.93M	-3.95M	-13.45M	17.25M	-1.08M	2.1M	-8.26M	3.69M	2.1M	12.15M
Change in Inventory	-939K	-21.43M	-10.29M	2.54M	3.53M	-13.34M	-33.53M	-15.29M	29.91M	6.58M
Change in Payables	226K	1.8M	1.7M	3.07M	751K	-2.08M	15.03M	-12.41M	-11.51M	2.15M
Cash from Investing+	-6.8M	7.13M	8.51M	-36.29M	-29.61M	15.43M	16.77M	8.27M	-7.52M	-4.28M
Capital Expenditures	-2.98M	-1.44M	-1.7M	-2.37M	-2.46M	-3.18M	-6.16M	-4.69M	-1.12M	-932K
CapEx % of Revenue	0.04%	0.01%	0.01%	0.02%	0.02%	0.03%	0.05%	0.03%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	19K	8.57M	-11K	-1.02M	-1.02M	-1.49M	-3.57M	934K	-772K	-3.35M
Cash from Financing+	-6.33M	-10.82M	-4.73M	288K	-7.82M	-16.52M	-9.78M	-1.05M	-7.97M	-9.88M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-7.27M	-7.31M	-7.38M	-7.38M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	943K	-3.51M	2.65M	288K	154K	276K	4.51M	0	1.35M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	10.3M	-4.15M	-293K	43.31M	24.27M	1.77M	-5.08M	-8.78M	29.71M	17.36M
FCF Margin %	0.12%	-0.04%	-0%	0.32%	0.23%	0.02%	-0.04%	-0.06%	0.24%	0.3%
FCF Growth %	-0.45%	-1.4%	0.93%	148.82%	-0.44%	-0.93%	-3.86%	-0.73%	4.38%	-0.42%
FCF per Share	1.40	-0.56	-0.04	5.66	3.20	0.25	-0.73	-1.29	4.43	2.88
FCF Conversion (FCF/Net Income)	0.80x	-0.21x	0.06x	3.12x	2.61x	0.87x	0.10x	-0.22x	-1.21x	-1.33x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	4.49M	4.65M	4.58M	3.26M	1.1M	1.28M	2.37M	0	601K	917K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.47%	11.22%	16.56%	9.79%	6.38%	3.6%	6.73%	10.84%	-16.13%	-9.93%
Return on Invested Capital (ROIC)	15.38%	11.63%	16.35%	9.79%	5.44%	3.18%	6.93%	10.14%	-16.31%	-10.47%
Gross Margin	41.19%	38.42%	36.54%	31.44%	34.3%	31.44%	34.55%	34.5%	23.11%	28.56%
Net Margin	19.97%	13.09%	17.28%	10.94%	9.73%	5.33%	8.21%	12.16%	-21.28%	-23.59%
Debt / Equity	-	-	-	-	0.02x	0.07x	0.06x	0.04x	0.04x	0.05x
Interest Coverage	187.68x	129.75x	233.27x	179.04x	69.01x	36.54x	272.02x	269.27x	-637.20x	-1207.09x
FCF Conversion	0.80x	-0.21x	0.06x	3.12x	2.61x	0.87x	0.10x	-0.22x	-1.21x	-1.33x
Revenue Growth	9.41%	21.28%	25.26%	6.42%	-21.32%	2.05%	19.61%	17.22%	-17.57%	-53.18%

Revenue by Geography

	2012	2013	2014	2024
UNITED STATES	-	-	-	43.7M
UNITED STATES Growth	-	-	-	-
Europe	7.28M	9.26M	11.42M	6.22M
Europe Growth	-	27.21%	23.38%	-45.53%
Asia Pacific	-	-	10.49M	4.55M
Asia Pacific Growth	-	-	-	-56.62%
ISRAEL	-	-	-	3.37M
ISRAEL Growth	-	-	-	-
North America	33.61M	55.66M	53.71M	280K
North America Growth	-	65.61%	-3.49%	-99.48%
Rest Of World	7.85M	8.39M	-	-
Rest Of World Growth	-	6.88%	-	-

Frequently Asked Questions

Growth & Financials

Silicom Ltd. (SILC) reported $58.7M in revenue for fiscal year 2024. This represents a 48% increase from $39.6M in 2011.

Silicom Ltd. (SILC) saw revenue decline by 53.2% over the past year.

Silicom Ltd. (SILC) reported a net loss of $14.9M for fiscal year 2024.

Dividend & Returns

Silicom Ltd. (SILC) has a return on equity (ROE) of -9.9%. Negative ROE indicates the company is unprofitable.

Silicom Ltd. (SILC) generated $17.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.