Silicon Motion Technology Corporation (SIMO) 10-Year Financial Performance & Capital Metrics

SIMO •

TechnologySemiconductorsMemory and Storage Semiconductors

AboutSilicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications. It markets its controllers under the SMI brand; enterprise-grade SSDs under the Shannon Systems brand; and single-chip industrial-grade SSDs under the Ferri SSD, Ferri-eMMC, and Ferri-UFS brands. The company markets and sells its products through direct sales personnel and independent electronics distributors to NAND flash makers, module makers, hyperscalers, and OEMs. It operates in Taiwan, the United States, South Korea, China, Malaysia, Singapore, and internationally. Silicon Motion Technology Corporation was founded in 1995 and is based in Hong Kong, Hong Kong.Show more

Revenue $886M +10.2%
EBITDA $123M +6.0%
Net Income $123M +37.4%
EPS (Diluted) 14.60 +38.3%
Gross Margin 48.27% +5.2%
EBITDA Margin 13.91% -3.8%
Operating Margin 10.51% -7.1%
Net Margin 13.85% +24.7%
ROE 15.29% +29.2%
ROIC 12.36% -16.3%
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 10.4%
✓Share count reduced 75.1% through buybacks
✓Healthy 5Y average net margin of 14.6%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.38%

5Y10.42%

3Y-2.17%

TTM10.32%

Profit (Net Income) CAGR

10Y7.36%

5Y8.99%

3Y-10.75%

TTM37.25%

EPS CAGR

10Y23.77%

5Y44.97%

3Y41.44%

TTM372.06%

ROCE

10Y Avg20.2%

5Y Avg18.97%

3Y Avg9.02%

Latest10.84%

Peer Comparison

Memory and Storage Semiconductors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MRAMEverspin Technologies, Inc.	238.24M	10.80	306.82	-20.96%	-0.95%	-0.77%	1.7%	0.07
MUMicron Technology, Inc.	462.68B	412.37	54.33	48.85%	28.15%	20.25%	0.36%	0.28
SIMOSilicon Motion Technology Corporation	4.39B	129.23	8.85	10.21%	13.85%	14.76%	0.14%
GSITGSI Technology, Inc.	246.67M	8.16	-19.43	-5.73%	-48.54%	-30.25%		0.34

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	556.15M	523.4M	530.35M	457.25M	539.52M	922.1M	945.92M	639.14M	803.55M	885.63M
Revenue Growth %	53.93%	-5.89%	1.33%	-13.78%	17.99%	70.91%	2.58%	-32.43%	25.72%	10.21%
Cost of Goods Sold+	281.54M	272.21M	269.54M	235.08M	279.37M	461.31M	480.09M	368.75M	432.65M	458.12M
COGS % of Revenue	50.62%	52.01%	50.82%	51.41%	51.78%	50.03%	50.75%	57.69%	53.84%	51.73%
Gross Profit+	274.61M	251.19M	260.81M	222.17M	260.16M	460.8M	465.83M	270.39M	368.76M	427.51M
Gross Margin %	49.38%	47.99%	49.18%	48.59%	48.22%	49.97%	49.25%	42.31%	45.89%	48.27%
Gross Profit Growth %	48.81%	-8.53%	3.83%	-14.81%	17.1%	77.12%	1.09%	-41.96%	36.38%	15.93%
Operating Expenses+	-138.01M	-156.04M	-156.87M	153.71M	162.19M	214.93M	251.52M	230.51M	278.08M	334.47M
OpEx % of Revenue	-24.81%	-29.81%	-29.58%	33.62%	30.06%	23.31%	26.59%	36.07%	34.61%	37.77%
Selling, General & Admin	42.84M	42.8M	46.91M	42.82M	40.41M	50.63M	62.98M	54.84M	58.8M	71.75M
SG&A % of Revenue	7.7%	8.18%	8.85%	9.37%	7.49%	5.49%	6.66%	8.58%	7.32%	8.1%
Research & Development	92.41M	102.05M	102.03M	110.12M	121.78M	164.29M	188.53M	174.36M	217.82M	262.72M
R&D % of Revenue	16.62%	19.5%	19.24%	24.08%	22.57%	17.82%	19.93%	27.28%	27.11%	29.66%
Other Operating Expenses	42K	84K	193K	766K	133K	-77K	1K	1.31M	1.46M	0
Operating Income+	137.26M	103.81M	108.9M	71.34M	115.13M	245.87M	213.93M	39.88M	90.89M	93.04M
Operating Margin %	24.68%	19.83%	20.53%	15.6%	21.34%	26.66%	22.62%	6.24%	11.31%	10.51%
Operating Income Growth %	78.74%	-24.37%	4.91%	-34.49%	61.38%	113.57%	-12.99%	-81.36%	127.92%	2.36%
EBITDA+	146.75M	116.99M	123.71M	84.58M	128.72M	263.06M	232.84M	61.69M	116.22M	123.21M
EBITDA Margin %	26.39%	22.35%	23.33%	18.5%	23.86%	28.53%	24.62%	9.65%	14.46%	13.91%
EBITDA Growth %	116.44%	-20.28%	5.74%	-31.63%	52.19%	104.38%	-11.49%	-73.51%	88.4%	6.02%
D&A (Non-Cash Add-back)	9.49M	13.18M	14.8M	13.24M	13.59M	17.19M	18.92M	21.81M	25.33M	30.17M
EBIT	138.76M	99.42M	110.77M	72.21M	85.74M	247.26M	212.65M	61.05M	107.41M	93.04M
Net Interest Income+	2.03M	3.85M	5.92M	6.75M	4.63M	1.28M	2.64M	12.25M	14.53M	9.66M
Interest Income	2.16M	4.27M	6.3M	6.75M	4.63M	1.28M	2.71M	12.25M	14.53M	9.66M
Interest Expense	127K	423K	378K	3K	0	0	71K	0	0	0
Other Income/Expense	1.37M	3.65M	5.03M	19.93M	5.08M	1.4M	-1.35M	21.17M	16.52M	47.09M
Pretax Income+	138.63M	99M	109.86M	72.07M	85.56M	247.26M	212.58M	61.05M	107.41M	140.13M
Pretax Margin %	24.93%	18.91%	20.71%	15.76%	15.86%	26.82%	22.47%	9.55%	13.37%	15.82%
Income Tax+	27.69M	24.05M	11.79M	7.67M	5.81M	47.32M	40.07M	8.18M	18.16M	17.49M
Effective Tax Rate %	80.03%	75.79%	91.27%	89.35%	93.21%	80.89%	81.15%	86.61%	83.09%	87.52%
Net Income+	110.94M	75.03M	100.27M	64.4M	79.75M	200M	172.51M	52.87M	89.25M	122.64M
Net Margin %	19.95%	14.34%	18.91%	14.08%	14.78%	21.69%	18.24%	8.27%	11.11%	13.85%
Net Income Growth %	84.04%	-32.37%	33.64%	-35.78%	23.83%	150.8%	-13.75%	-69.35%	68.8%	37.41%
Net Income (Continuing)	110.94M	74.95M	98.07M	64.4M	79.75M	200M	172.51M	52.87M	89.25M	122.64M
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)+	3.12	2.09	2.78	1.83	2.28	5.73	5.16	1.58	10.56	14.60
EPS Growth %	80.35%	-33.01%	33.01%	-34.17%	24.59%	151.32%	-9.95%	-69.38%	568.35%	38.26%
EPS (Basic)	3.15	2.10	2.78	1.83	2.29	5.75	5.18	1.59	10.60	14.60
Diluted Shares Outstanding	35.51M	35.9M	36.13M	35.3M	34.98M	34.99M	33.39M	33.47M	33.72M	8.4M
Basic Shares Outstanding	35.23M	35.68M	36.03M	35.18M	34.85M	34.85M	33.26M	33.35M	33.64M	8.39M
Dividend Payout Ratio	20.64%	42.81%	43.16%	68.37%	61.32%	27.07%	28.95%	31.57%	75.36%	54.8%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	476.89M	568.8M	496.4M	565.2M	618.1M	818.11M	787.92M	793.25M	796.8M	943.37M
Cash & Short-Term Investments	277.79M	366.39M	288.6M	325.18M	342.96M	360.08M	232.18M	314.3M	276.07M	201.84M
Cash Only	274.48M	359.45M	284.99M	323.17M	342.96M	360.08M	232.18M	314.3M	276.07M	201.84M
Short-Term Investments	3.3M	6.94M	3.61M	2.01M	0	0	0	0	0	0
Accounts Receivable	73.6M	79.14M	91.76M	108.73M	115.83M	208.57M	206.1M	194.7M	233.74M	211.55M
Days Sales Outstanding	48.3	55.19	63.15	86.8	78.36	82.56	79.53	111.19	106.17	87.19
Inventory	71.87M	94.19M	81.52M	88.44M	110.16M	163.1M	287.96M	216.95M	201.15M	421.8M
Days Inventory Outstanding	93.18	126.29	110.39	137.32	143.93	129.05	218.93	214.74	169.7	336.06
Other Current Assets	47.76M	19.52M	29.73M	34.49M	35.22M	48.51M	61.67M	49.66M	54.65M	71.3M
Total Non-Current Assets+	129.13M	125.01M	176.33M	132.53M	123.97M	153.22M	173.33M	214.72M	236.08M	277.64M
Property, Plant & Equipment	47.89M	51.37M	101.41M	97.78M	112.2M	124.48M	139.43M	181.53M	188.4M	217.25M
Fixed Asset Turnover	11.61x	10.19x	5.23x	4.68x	4.81x	7.41x	6.78x	3.52x	4.27x	4.08x
Goodwill	68.66M	58.96M	58.33M	17.49M	0	-12.84M	0	0	0	0
Intangible Assets	5.23M	7.43M	1.02M	3.63M	0	6.48M	3.83M	0	7.17M	0
Long-Term Investments	120K	-3.4M	3M	3M	5M	8.54M	9.27M	17.11M	17.33M	29.68M
Other Non-Current Assets	3.25M	7.17M	4.05M	10.32M	2.15M	20.2M	11.91M	16.07M	23.18M	30.71M
Total Assets+	606.01M	693.81M	672.72M	697.73M	742.06M	971.33M	961.25M	1.01B	1.03B	1.22B
Asset Turnover	0.92x	0.75x	0.79x	0.66x	0.73x	0.95x	0.98x	0.63x	0.78x	0.73x
Asset Growth %	35.99%	14.49%	-3.04%	3.72%	6.35%	30.9%	-1.04%	4.86%	2.47%	18.21%
Total Current Liabilities+	145.97M	177.24M	111.56M	125.76M	158.74M	281.56M	183.87M	212.81M	199.57M	337.81M
Accounts Payable	31.74M	56.42M	27.66M	30.69M	44.53M	80.77M	36.02M	55.59M	17.77M	34.74M
Days Payables Outstanding	41.15	75.66	37.45	47.65	58.19	63.91	27.39	55.02	14.99	27.68
Short-Term Debt	25M	25M	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	3.98M	3.4M	5.07M	77.69M	4.62M	6.36M	6.91M	0	5.03M	0
Other Current Liabilities	48.7M	54.54M	49.11M	54.28M	53.88M	116.59M	63.26M	82.75M	115.59M	22.43M
Current Ratio	3.27x	3.21x	4.45x	4.49x	3.89x	2.91x	4.29x	3.73x	3.99x	2.79x
Quick Ratio	2.77x	2.68x	3.72x	3.79x	3.20x	2.33x	2.72x	2.71x	2.98x	1.54x
Cash Conversion Cycle	100.33	105.82	136.09	176.47	164.1	147.71	271.07	270.91	260.88	395.57
Total Non-Current Liabilities+	17.32M	22.44M	26.69M	35.18M	25.57M	32.19M	44.78M	60.45M	59.55M	52.46M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	17.28M	22.44M	26.69M	29.46M	25.57M	32.18M	44.78M	60.45M	59.55M	52.46M
Total Liabilities	163.29M	199.68M	138.24M	160.94M	184.32M	313.75M	228.65M	273.26M	259.12M	390.27M
Total Debt+	25M	25M	0	3.05M	3.06M	2.9M	3.2M	2.34M	2.53M	0
Net Debt	-249.48M	-334.45M	-284.99M	-320.12M	-339.9M	-357.18M	-228.97M	-311.96M	-273.54M	-201.84M
Debt / Equity	0.06x	0.05x	-	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-
Debt / EBITDA	0.17x	0.21x	-	0.04x	0.02x	0.01x	0.01x	0.04x	0.02x	-
Net Debt / EBITDA	-1.70x	-2.86x	-2.30x	-3.78x	-2.64x	-1.36x	-0.98x	-5.06x	-2.35x	-1.64x
Interest Coverage	1080.79x	245.40x	288.10x	23780.00x	-	-	3013.03x	-	-	-
Total Equity+	442.72M	494.13M	534.48M	536.78M	557.74M	657.58M	732.6M	734.7M	773.75M	830.74M
Equity Growth %	22.9%	11.61%	8.17%	0.43%	3.9%	17.9%	11.41%	0.29%	5.32%	7.36%
Book Value per Share	12.47	13.76	14.79	15.21	15.95	18.79	21.94	21.95	22.95	98.92
Total Shareholders' Equity	442.72M	494.13M	534.48M	536.78M	557.74M	657.58M	732.6M	734.7M	773.75M	830.74M
Common Stock	1.41M	1.43M	1.45M	1.39M	1.38M	1.4M	1.32M	1.34M	1.35M	830.74M
Retained Earnings	215.72M	247.49M	301.86M	270.97M	281.58M	412.13M	425.12M	411.16M	432.62M	0
Treasury Stock	0	0	-34.76M	0	0	-50.01M	0	0	0	0
Accumulated OCI	-1.03M	2.64M	495K	-785K	-349K	-540K	2.6M	1.15M	338K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	125.57M	103.88M	108.24M	77.01M	115.89M	176.87M	83.75M	149.08M	77.19M	61.43M
Operating CF Margin %	22.58%	19.85%	20.41%	16.84%	21.48%	19.18%	8.85%	23.33%	9.61%	6.94%
Operating CF Growth %	90.41%	-17.27%	4.2%	-28.86%	50.5%	52.61%	-52.65%	78.02%	-48.22%	-20.43%
Net Income	110.94M	74.95M	98.07M	64.4M	79.75M	199.95M	172.51M	52.87M	90.56M	122.64M
Depreciation & Amortization	11.59M	13.13M	14.8M	13.06M	13.56M	17.16M	18.93M	21.81M	25.29M	30.17M
Stock-Based Compensation	17.36M	15.49M	20.78M	14.59M	14.59M	19.55M	26.66M	17.55M	16.96M	0
Deferred Taxes	-3.37M	581K	-1.66M	1.12M	-667K	-1.74M	-1.74M	428K	0	0
Other Non-Cash Items	44K	8.48M	4.47M	1.87M	18.54M	1.95M	853K	-22.99M	-2.18M	-13.1M
Working Capital Changes	-10.99M	-8.76M	-28.21M	-18.02M	-9.87M	-59.99M	-133.47M	79.42M	-53.42M	-78.28M
Change in Receivables	-14.62M	-5.16M	-12.63M	-18.75M	-7.09M	-92.93M	2.47M	11.4M	-39.04M	0
Change in Inventory	-24.78M	-22.3M	12.67M	-10.15M	-21.72M	-78.09M	-78.09M	72.13M	4.87M	0
Change in Payables	9.2M	24.25M	-28.77M	4.43M	13.85M	36.23M	36.23M	0	-37.81M	0
Cash from Investing+	-8.22M	-14.55M	-79.57M	35.42M	-20.78M	-30.34M	-32.78M	-49.09M	-44.19M	-27.47M
Capital Expenditures	-12.22M	-11.68M	-74.85M	-10.32M	-18.78M	-26.83M	-32.78M	-50.31M	-44.45M	-55.15M
CapEx % of Revenue	2.2%	2.23%	14.11%	2.26%	3.48%	2.91%	3.46%	7.87%	5.53%	6.23%
Acquisitions	-30.29M	-2.87M	-2.87M	43.97M	-45.68M	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.51M	4M	2.87M	-39.25M	43.97M	-3.51M	3.51M	1.23M	1K	27.68M
Cash from Financing+	2.19M	-31.74M	-101.82M	-70.26M	-73.91M	-99.73M	-183.1M	-16.69M	-67.25M	-91.51M
Debt Issued (Net)	25M	0	-25.01M	0	0	0	0	0	0	0
Equity Issued (Net)	93K	380K	-1000K	-1000K	-1000K	-1000K	-1000K	0	0	-1000K
Dividends Paid	-22.9M	-32.12M	-43.28M	-44.11M	-49M	-54.14M	-49.91M	-16.69M	-67.25M	-67.2M
Share Repurchases	0	0	-33.54M	-26.23M	-25.01M	-45.7M	-133.16M	0	0	-24.31M
Other Financing	0	0	13.13K	0	0	0	0	0	0	0
Net Change in Cash	119.02M	60.35M	-74.4M	41.13M	20.96M	46.31M	-128.47M	81.94M	-34.66M	-57.25M
Free Cash Flow+	113.35M	92.2M	33.39M	66.68M	97.11M	150.04M	50.97M	98.77M	32.74M	6.28M
FCF Margin %	20.38%	17.62%	6.3%	14.58%	18%	16.27%	5.39%	15.45%	4.07%	0.71%
FCF Growth %	168.08%	-18.66%	-63.79%	99.71%	45.64%	54.5%	-66.03%	93.78%	-66.85%	-80.83%
FCF per Share	3.19	2.57	0.92	1.89	2.78	4.29	1.53	2.95	0.97	0.75
FCF Conversion (FCF/Net Income)	1.13x	1.38x	1.08x	1.20x	1.45x	0.88x	0.49x	2.82x	0.86x	0.50x
Interest Paid	105K	367K	376K	0	11K	0	71K	0	0	0
Taxes Paid	24.3M	30.91M	13.79M	5.61M	8.52M	3.52M	33.98M	36.32M	10.11M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	27.63%	16.02%	19.5%	12.02%	14.57%	32.91%	24.82%	7.21%	11.83%	15.29%
Return on Invested Capital (ROIC)	55.21%	44.12%	39.92%	22.96%	39.74%	71.17%	39.91%	6.46%	14.77%	12.36%
Gross Margin	49.38%	47.99%	49.18%	48.59%	48.22%	49.97%	49.25%	42.31%	45.89%	48.27%
Net Margin	19.95%	14.34%	18.91%	14.08%	14.78%	21.69%	18.24%	8.27%	11.11%	13.85%
Debt / Equity	0.06x	0.05x	-	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-
Interest Coverage	1080.79x	245.40x	288.10x	23780.00x	-	-	3013.03x	-	-	-
FCF Conversion	1.13x	1.38x	1.08x	1.20x	1.45x	0.88x	0.49x	2.82x	0.86x	0.50x
Revenue Growth	53.93%	-5.89%	1.33%	-13.78%	17.99%	70.91%	2.58%	-32.43%	25.72%	10.21%

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Silicon Motion Technology Corporation (SIMO) 10-Year Financial Performance & Capital Metrics

SIMO •

TechnologySemiconductorsMemory and Storage Semiconductors

Revenue $886M +10.2%
EBITDA $123M +6.0%
Net Income $123M +37.4%
EPS (Diluted) 14.60 +38.3%
Gross Margin 48.27% +5.2%
EBITDA Margin 13.91% -3.8%
Operating Margin 10.51% -7.1%
Net Margin 13.85% +24.7%
ROE 15.29% +29.2%
ROIC 12.36% -16.3%
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 10.4%
✓Share count reduced 75.1% through buybacks
✓Healthy 5Y average net margin of 14.6%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.38%

5Y10.42%

3Y-2.17%

TTM10.32%

Profit (Net Income) CAGR

10Y7.36%

5Y8.99%

3Y-10.75%

TTM37.25%

EPS CAGR

10Y23.77%

5Y44.97%

3Y41.44%

TTM372.06%

ROCE

10Y Avg20.2%

5Y Avg18.97%

3Y Avg9.02%

Latest10.84%

Peer Comparison

Memory and Storage Semiconductors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MRAMEverspin Technologies, Inc.	238.24M	10.80	306.82	-20.96%	-0.95%	-0.77%	1.7%	0.07
MUMicron Technology, Inc.	462.68B	412.37	54.33	48.85%	28.15%	20.25%	0.36%	0.28
SIMOSilicon Motion Technology Corporation	4.39B	129.23	8.85	10.21%	13.85%	14.76%	0.14%
GSITGSI Technology, Inc.	246.67M	8.16	-19.43	-5.73%	-48.54%	-30.25%		0.34

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	556.15M	523.4M	530.35M	457.25M	539.52M	922.1M	945.92M	639.14M	803.55M	885.63M
Revenue Growth %	53.93%	-5.89%	1.33%	-13.78%	17.99%	70.91%	2.58%	-32.43%	25.72%	10.21%
Cost of Goods Sold+	281.54M	272.21M	269.54M	235.08M	279.37M	461.31M	480.09M	368.75M	432.65M	458.12M
COGS % of Revenue	50.62%	52.01%	50.82%	51.41%	51.78%	50.03%	50.75%	57.69%	53.84%	51.73%
Gross Profit+	274.61M	251.19M	260.81M	222.17M	260.16M	460.8M	465.83M	270.39M	368.76M	427.51M
Gross Margin %	49.38%	47.99%	49.18%	48.59%	48.22%	49.97%	49.25%	42.31%	45.89%	48.27%
Gross Profit Growth %	48.81%	-8.53%	3.83%	-14.81%	17.1%	77.12%	1.09%	-41.96%	36.38%	15.93%
Operating Expenses+	-138.01M	-156.04M	-156.87M	153.71M	162.19M	214.93M	251.52M	230.51M	278.08M	334.47M
OpEx % of Revenue	-24.81%	-29.81%	-29.58%	33.62%	30.06%	23.31%	26.59%	36.07%	34.61%	37.77%
Selling, General & Admin	42.84M	42.8M	46.91M	42.82M	40.41M	50.63M	62.98M	54.84M	58.8M	71.75M
SG&A % of Revenue	7.7%	8.18%	8.85%	9.37%	7.49%	5.49%	6.66%	8.58%	7.32%	8.1%
Research & Development	92.41M	102.05M	102.03M	110.12M	121.78M	164.29M	188.53M	174.36M	217.82M	262.72M
R&D % of Revenue	16.62%	19.5%	19.24%	24.08%	22.57%	17.82%	19.93%	27.28%	27.11%	29.66%
Other Operating Expenses	42K	84K	193K	766K	133K	-77K	1K	1.31M	1.46M	0
Operating Income+	137.26M	103.81M	108.9M	71.34M	115.13M	245.87M	213.93M	39.88M	90.89M	93.04M
Operating Margin %	24.68%	19.83%	20.53%	15.6%	21.34%	26.66%	22.62%	6.24%	11.31%	10.51%
Operating Income Growth %	78.74%	-24.37%	4.91%	-34.49%	61.38%	113.57%	-12.99%	-81.36%	127.92%	2.36%
EBITDA+	146.75M	116.99M	123.71M	84.58M	128.72M	263.06M	232.84M	61.69M	116.22M	123.21M
EBITDA Margin %	26.39%	22.35%	23.33%	18.5%	23.86%	28.53%	24.62%	9.65%	14.46%	13.91%
EBITDA Growth %	116.44%	-20.28%	5.74%	-31.63%	52.19%	104.38%	-11.49%	-73.51%	88.4%	6.02%
D&A (Non-Cash Add-back)	9.49M	13.18M	14.8M	13.24M	13.59M	17.19M	18.92M	21.81M	25.33M	30.17M
EBIT	138.76M	99.42M	110.77M	72.21M	85.74M	247.26M	212.65M	61.05M	107.41M	93.04M
Net Interest Income+	2.03M	3.85M	5.92M	6.75M	4.63M	1.28M	2.64M	12.25M	14.53M	9.66M
Interest Income	2.16M	4.27M	6.3M	6.75M	4.63M	1.28M	2.71M	12.25M	14.53M	9.66M
Interest Expense	127K	423K	378K	3K	0	0	71K	0	0	0
Other Income/Expense	1.37M	3.65M	5.03M	19.93M	5.08M	1.4M	-1.35M	21.17M	16.52M	47.09M
Pretax Income+	138.63M	99M	109.86M	72.07M	85.56M	247.26M	212.58M	61.05M	107.41M	140.13M
Pretax Margin %	24.93%	18.91%	20.71%	15.76%	15.86%	26.82%	22.47%	9.55%	13.37%	15.82%
Income Tax+	27.69M	24.05M	11.79M	7.67M	5.81M	47.32M	40.07M	8.18M	18.16M	17.49M
Effective Tax Rate %	80.03%	75.79%	91.27%	89.35%	93.21%	80.89%	81.15%	86.61%	83.09%	87.52%
Net Income+	110.94M	75.03M	100.27M	64.4M	79.75M	200M	172.51M	52.87M	89.25M	122.64M
Net Margin %	19.95%	14.34%	18.91%	14.08%	14.78%	21.69%	18.24%	8.27%	11.11%	13.85%
Net Income Growth %	84.04%	-32.37%	33.64%	-35.78%	23.83%	150.8%	-13.75%	-69.35%	68.8%	37.41%
Net Income (Continuing)	110.94M	74.95M	98.07M	64.4M	79.75M	200M	172.51M	52.87M	89.25M	122.64M
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)+	3.12	2.09	2.78	1.83	2.28	5.73	5.16	1.58	10.56	14.60
EPS Growth %	80.35%	-33.01%	33.01%	-34.17%	24.59%	151.32%	-9.95%	-69.38%	568.35%	38.26%
EPS (Basic)	3.15	2.10	2.78	1.83	2.29	5.75	5.18	1.59	10.60	14.60
Diluted Shares Outstanding	35.51M	35.9M	36.13M	35.3M	34.98M	34.99M	33.39M	33.47M	33.72M	8.4M
Basic Shares Outstanding	35.23M	35.68M	36.03M	35.18M	34.85M	34.85M	33.26M	33.35M	33.64M	8.39M
Dividend Payout Ratio	20.64%	42.81%	43.16%	68.37%	61.32%	27.07%	28.95%	31.57%	75.36%	54.8%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	476.89M	568.8M	496.4M	565.2M	618.1M	818.11M	787.92M	793.25M	796.8M	943.37M
Cash & Short-Term Investments	277.79M	366.39M	288.6M	325.18M	342.96M	360.08M	232.18M	314.3M	276.07M	201.84M
Cash Only	274.48M	359.45M	284.99M	323.17M	342.96M	360.08M	232.18M	314.3M	276.07M	201.84M
Short-Term Investments	3.3M	6.94M	3.61M	2.01M	0	0	0	0	0	0
Accounts Receivable	73.6M	79.14M	91.76M	108.73M	115.83M	208.57M	206.1M	194.7M	233.74M	211.55M
Days Sales Outstanding	48.3	55.19	63.15	86.8	78.36	82.56	79.53	111.19	106.17	87.19
Inventory	71.87M	94.19M	81.52M	88.44M	110.16M	163.1M	287.96M	216.95M	201.15M	421.8M
Days Inventory Outstanding	93.18	126.29	110.39	137.32	143.93	129.05	218.93	214.74	169.7	336.06
Other Current Assets	47.76M	19.52M	29.73M	34.49M	35.22M	48.51M	61.67M	49.66M	54.65M	71.3M
Total Non-Current Assets+	129.13M	125.01M	176.33M	132.53M	123.97M	153.22M	173.33M	214.72M	236.08M	277.64M
Property, Plant & Equipment	47.89M	51.37M	101.41M	97.78M	112.2M	124.48M	139.43M	181.53M	188.4M	217.25M
Fixed Asset Turnover	11.61x	10.19x	5.23x	4.68x	4.81x	7.41x	6.78x	3.52x	4.27x	4.08x
Goodwill	68.66M	58.96M	58.33M	17.49M	0	-12.84M	0	0	0	0
Intangible Assets	5.23M	7.43M	1.02M	3.63M	0	6.48M	3.83M	0	7.17M	0
Long-Term Investments	120K	-3.4M	3M	3M	5M	8.54M	9.27M	17.11M	17.33M	29.68M
Other Non-Current Assets	3.25M	7.17M	4.05M	10.32M	2.15M	20.2M	11.91M	16.07M	23.18M	30.71M
Total Assets+	606.01M	693.81M	672.72M	697.73M	742.06M	971.33M	961.25M	1.01B	1.03B	1.22B
Asset Turnover	0.92x	0.75x	0.79x	0.66x	0.73x	0.95x	0.98x	0.63x	0.78x	0.73x
Asset Growth %	35.99%	14.49%	-3.04%	3.72%	6.35%	30.9%	-1.04%	4.86%	2.47%	18.21%
Total Current Liabilities+	145.97M	177.24M	111.56M	125.76M	158.74M	281.56M	183.87M	212.81M	199.57M	337.81M
Accounts Payable	31.74M	56.42M	27.66M	30.69M	44.53M	80.77M	36.02M	55.59M	17.77M	34.74M
Days Payables Outstanding	41.15	75.66	37.45	47.65	58.19	63.91	27.39	55.02	14.99	27.68
Short-Term Debt	25M	25M	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	3.98M	3.4M	5.07M	77.69M	4.62M	6.36M	6.91M	0	5.03M	0
Other Current Liabilities	48.7M	54.54M	49.11M	54.28M	53.88M	116.59M	63.26M	82.75M	115.59M	22.43M
Current Ratio	3.27x	3.21x	4.45x	4.49x	3.89x	2.91x	4.29x	3.73x	3.99x	2.79x
Quick Ratio	2.77x	2.68x	3.72x	3.79x	3.20x	2.33x	2.72x	2.71x	2.98x	1.54x
Cash Conversion Cycle	100.33	105.82	136.09	176.47	164.1	147.71	271.07	270.91	260.88	395.57
Total Non-Current Liabilities+	17.32M	22.44M	26.69M	35.18M	25.57M	32.19M	44.78M	60.45M	59.55M	52.46M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	17.28M	22.44M	26.69M	29.46M	25.57M	32.18M	44.78M	60.45M	59.55M	52.46M
Total Liabilities	163.29M	199.68M	138.24M	160.94M	184.32M	313.75M	228.65M	273.26M	259.12M	390.27M
Total Debt+	25M	25M	0	3.05M	3.06M	2.9M	3.2M	2.34M	2.53M	0
Net Debt	-249.48M	-334.45M	-284.99M	-320.12M	-339.9M	-357.18M	-228.97M	-311.96M	-273.54M	-201.84M
Debt / Equity	0.06x	0.05x	-	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-
Debt / EBITDA	0.17x	0.21x	-	0.04x	0.02x	0.01x	0.01x	0.04x	0.02x	-
Net Debt / EBITDA	-1.70x	-2.86x	-2.30x	-3.78x	-2.64x	-1.36x	-0.98x	-5.06x	-2.35x	-1.64x
Interest Coverage	1080.79x	245.40x	288.10x	23780.00x	-	-	3013.03x	-	-	-
Total Equity+	442.72M	494.13M	534.48M	536.78M	557.74M	657.58M	732.6M	734.7M	773.75M	830.74M
Equity Growth %	22.9%	11.61%	8.17%	0.43%	3.9%	17.9%	11.41%	0.29%	5.32%	7.36%
Book Value per Share	12.47	13.76	14.79	15.21	15.95	18.79	21.94	21.95	22.95	98.92
Total Shareholders' Equity	442.72M	494.13M	534.48M	536.78M	557.74M	657.58M	732.6M	734.7M	773.75M	830.74M
Common Stock	1.41M	1.43M	1.45M	1.39M	1.38M	1.4M	1.32M	1.34M	1.35M	830.74M
Retained Earnings	215.72M	247.49M	301.86M	270.97M	281.58M	412.13M	425.12M	411.16M	432.62M	0
Treasury Stock	0	0	-34.76M	0	0	-50.01M	0	0	0	0
Accumulated OCI	-1.03M	2.64M	495K	-785K	-349K	-540K	2.6M	1.15M	338K	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	125.57M	103.88M	108.24M	77.01M	115.89M	176.87M	83.75M	149.08M	77.19M	61.43M
Operating CF Margin %	22.58%	19.85%	20.41%	16.84%	21.48%	19.18%	8.85%	23.33%	9.61%	6.94%
Operating CF Growth %	90.41%	-17.27%	4.2%	-28.86%	50.5%	52.61%	-52.65%	78.02%	-48.22%	-20.43%
Net Income	110.94M	74.95M	98.07M	64.4M	79.75M	199.95M	172.51M	52.87M	90.56M	122.64M
Depreciation & Amortization	11.59M	13.13M	14.8M	13.06M	13.56M	17.16M	18.93M	21.81M	25.29M	30.17M
Stock-Based Compensation	17.36M	15.49M	20.78M	14.59M	14.59M	19.55M	26.66M	17.55M	16.96M	0
Deferred Taxes	-3.37M	581K	-1.66M	1.12M	-667K	-1.74M	-1.74M	428K	0	0
Other Non-Cash Items	44K	8.48M	4.47M	1.87M	18.54M	1.95M	853K	-22.99M	-2.18M	-13.1M
Working Capital Changes	-10.99M	-8.76M	-28.21M	-18.02M	-9.87M	-59.99M	-133.47M	79.42M	-53.42M	-78.28M
Change in Receivables	-14.62M	-5.16M	-12.63M	-18.75M	-7.09M	-92.93M	2.47M	11.4M	-39.04M	0
Change in Inventory	-24.78M	-22.3M	12.67M	-10.15M	-21.72M	-78.09M	-78.09M	72.13M	4.87M	0
Change in Payables	9.2M	24.25M	-28.77M	4.43M	13.85M	36.23M	36.23M	0	-37.81M	0
Cash from Investing+	-8.22M	-14.55M	-79.57M	35.42M	-20.78M	-30.34M	-32.78M	-49.09M	-44.19M	-27.47M
Capital Expenditures	-12.22M	-11.68M	-74.85M	-10.32M	-18.78M	-26.83M	-32.78M	-50.31M	-44.45M	-55.15M
CapEx % of Revenue	2.2%	2.23%	14.11%	2.26%	3.48%	2.91%	3.46%	7.87%	5.53%	6.23%
Acquisitions	-30.29M	-2.87M	-2.87M	43.97M	-45.68M	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.51M	4M	2.87M	-39.25M	43.97M	-3.51M	3.51M	1.23M	1K	27.68M
Cash from Financing+	2.19M	-31.74M	-101.82M	-70.26M	-73.91M	-99.73M	-183.1M	-16.69M	-67.25M	-91.51M
Debt Issued (Net)	25M	0	-25.01M	0	0	0	0	0	0	0
Equity Issued (Net)	93K	380K	-1000K	-1000K	-1000K	-1000K	-1000K	0	0	-1000K
Dividends Paid	-22.9M	-32.12M	-43.28M	-44.11M	-49M	-54.14M	-49.91M	-16.69M	-67.25M	-67.2M
Share Repurchases	0	0	-33.54M	-26.23M	-25.01M	-45.7M	-133.16M	0	0	-24.31M
Other Financing	0	0	13.13K	0	0	0	0	0	0	0
Net Change in Cash	119.02M	60.35M	-74.4M	41.13M	20.96M	46.31M	-128.47M	81.94M	-34.66M	-57.25M
Free Cash Flow+	113.35M	92.2M	33.39M	66.68M	97.11M	150.04M	50.97M	98.77M	32.74M	6.28M
FCF Margin %	20.38%	17.62%	6.3%	14.58%	18%	16.27%	5.39%	15.45%	4.07%	0.71%
FCF Growth %	168.08%	-18.66%	-63.79%	99.71%	45.64%	54.5%	-66.03%	93.78%	-66.85%	-80.83%
FCF per Share	3.19	2.57	0.92	1.89	2.78	4.29	1.53	2.95	0.97	0.75
FCF Conversion (FCF/Net Income)	1.13x	1.38x	1.08x	1.20x	1.45x	0.88x	0.49x	2.82x	0.86x	0.50x
Interest Paid	105K	367K	376K	0	11K	0	71K	0	0	0
Taxes Paid	24.3M	30.91M	13.79M	5.61M	8.52M	3.52M	33.98M	36.32M	10.11M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	27.63%	16.02%	19.5%	12.02%	14.57%	32.91%	24.82%	7.21%	11.83%	15.29%
Return on Invested Capital (ROIC)	55.21%	44.12%	39.92%	22.96%	39.74%	71.17%	39.91%	6.46%	14.77%	12.36%
Gross Margin	49.38%	47.99%	49.18%	48.59%	48.22%	49.97%	49.25%	42.31%	45.89%	48.27%
Net Margin	19.95%	14.34%	18.91%	14.08%	14.78%	21.69%	18.24%	8.27%	11.11%	13.85%
Debt / Equity	0.06x	0.05x	-	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-
Interest Coverage	1080.79x	245.40x	288.10x	23780.00x	-	-	3013.03x	-	-	-
FCF Conversion	1.13x	1.38x	1.08x	1.20x	1.45x	0.88x	0.49x	2.82x	0.86x	0.50x
Revenue Growth	53.93%	-5.89%	1.33%	-13.78%	17.99%	70.91%	2.58%	-32.43%	25.72%	10.21%

Silicon Motion Technology Corporation (SIMO) 10-Year Financial Performance & Capital Metrics

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✓Strengths

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Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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Silicon Motion Technology Corporation (SIMO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare SIMO vs Peers

vs MU

vs GSIT

Compare Top 4

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

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Dividend History

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