Free cash flow remains highly inconsistent, swinging from a $26.3 million peak in 2025Q3 to a $2.8 million deficit in 2025Q2, highlighting significant volatility in liquidity management.
| Cash from Operations | 103.31M | 87.15M | 23.19M | 8.06M | 39.75M | 59.08M | 16.6M | 7.38M | -1.05M | 2.82M |
| Operating CF Margin % | - | 26.68% | 11.44% | 5.59% | 14.02% | 27% | 14.29% | 8.78% | -1.23% | 2.79% |
| Operating CF Growth % | 9057.06% | 275.83% | 187.86% | -79.73% | -32.71% | 255.81% | 125.05% | 805.35% | -137.09% | - |
| Net Income | -24.24M | -42.9M | -93.6M | -80.53M | 23.25M | 32.28M | -9.37M | -6.61M | -9.34M | 4.72M |
| Depreciation & Amortization | 43.54M | 40.19M | 30.07M | 16.13M | 11.84M | 7.93M | 6.4M | 8.27M | 7.41M | 3.55M |
| Stock-Based Compensation | 78.49M | 0 | 92.63M | 76.75M | 57.41M | 29.99M | 16.01M | 1.38M | 831K | 1.98M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 40.17M | 111.7M | 19.11M | 38K | -1.73M | 1.93M | 2.51M | 330K | 9.16M | 632K |
| Working Capital Changes | -34.66M | -21.83M | -25.03M | -4.33M | -51.03M | -13.05M | 1.05M | 4M | -9.11M | -8.06M |
| Change in Receivables | -26.88M | -6.83M | -16.35M | 19.37M | -2.85M | -13.72M | -5.92M | 1.88M | 2.01M | -5.21M |
| Change in Inventory | -15.54M | -12M | -14.34M | 2M | -36.99M | -13.1M | -2.07M | 8.14M | -13.98M | -1.14M |
| Change in Payables | 13.86M | 4.3M | 6.12M | -5.71M | 2.47M | 5.83M | 2.61M | -1.15M | -648K | -121K |
| Cash from Investing | 19.62M | -427.87M | 64.76M | -36.66M | -560.09M | -33.79M | -7.79M | -3.2M | -5.01M | -8.02M |
| Capital Expenditures | -49.24M | -52.03M | -36.22M | -8.95M | -35.65M | -30.88M | -6.1M | -1.43M | -5.01M | -8.02M |
| CapEx % of Revenue | 12.96% | 15.93% | 17.87% | 6.21% | 12.57% | 14.11% | 5.25% | 1.7% | 5.88% | 7.93% |
| Acquisitions | 0 | 0 | 0 | -39M | -145.07M | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 422.87M | 0 | 908.81M | -3.3M | 145.07M | -2.91M | -1.7M | -1.78M | -2.7M | -3.27M |
| Cash from Financing | 336.71M | 351.37M | -91.31M | 3.47M | -4.52M | 460.65M | 1.3M | 51.35M | 4.85M | 8.67M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | -41M | -5M | 3M | 5M |
| Equity Issued (Net) | 451.27M | 451.61M | 50.51M | 46.02M | 33.98M | 461.26M | 48.8M | 56.35M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -114.56M | -100.25M | -141.82M | -42.56M | -38.5M | -618K | -6.5M | 0 | 1.85M | 3.67M |
| Net Change in Cash | 459.63M | 10.65M | -3.36M | -25.14M | -524.86M | 485.94M | 10.11M | 55.53M | -1.21M | 3.47M |
| Free Cash Flow | 54.14M | 35.13M | -13.03M | -4.19M | 4.1M | 25.29M | 8.81M | 4.18M | -6.06M | -5.2M |
| FCF Margin % | 14.25% | 10.75% | -6.43% | -2.91% | 1.45% | 11.56% | 7.59% | 4.97% | -7.11% | -5.14% |
| FCF Growth % | 509.03% | 369.64% | -210.68% | -202.19% | -83.78% | 187.03% | 110.99% | 168.93% | -16.54% | - |
| FCF per Share | 2.06 | 1.41 | -0.56 | -0.19 | 0.18 | 1.20 | 0.55 | 0.40 | -0.42 | -0.36 |
| FCF Conversion (FCF/Net Income) | -2.23x | -2.03x | -0.25x | -0.10x | 1.71x | 1.83x | -1.77x | -1.12x | 0.11x | 0.60x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 799K | 2.17M | 1.31M | 749K |
| Taxes Paid | 319K | 0 | 88K | 199K | 58K | 24K | 1K | 1K | 1K | 158K |
Liquidity and Operating Burn
According to the provided quarterly data, SiTime's operating cash flow frequently diverges from net income, with the 2026Q1 report showing a $31.2 million operating cash inflow against a $5.2 million net loss, highlighting a significant reliance on non-cash adjustments to bridge the profitability gap.
The persistent negative net income paired with positive operating cash flow suggests that non-cash charges, likely including substantial stock-based compensation, are heavily inflating cash metrics. Investors should monitor whether this divergence indicates a sustainable operational model or merely a reliance on accounting adjustments that do not reflect true economic value creation.
As reported in financial statements, SiTime's free cash flow trajectory remains highly inconsistent, swinging from a $26.3 million peak in 2025Q3 to a $2.8 million deficit in 2025Q2, illustrating the difficulty in maintaining positive cash generation while scaling high-growth semiconductor operations in a competitive environment.
The erratic nature of FCF margins suggests that the company's cash generation is highly sensitive to working capital fluctuations and periodic capital expenditure spikes. This volatility warrants further investigation into whether the business can achieve a stable, self-funding state without recurring reliance on external financing or equity dilution.
Based on SiTime's reported figures, capital expenditures have fluctuated significantly, reaching as high as 27% of revenue in 2025Q1, which underscores the heavy investment required to maintain its fabless manufacturing model and support the ongoing development of proprietary MEMS resonator technology across diverse end-market applications.
The high capital intensity relative to revenue suggests that the company is prioritizing long-term market share capture over immediate cash preservation. Analysts should evaluate if these investments are effectively translating into durable competitive advantages or if they represent a structural cost burden that will continue to pressure cash reserves.
Data from recent filings indicates that working capital changes have been a major source of cash flow volatility, with a $23.5 million outflow in 2025Q4, suggesting that inventory management and collection cycles are currently exerting significant pressure on the company's available cash position during growth phases.
These sharp swings in working capital appear to be a byproduct of the company's rapid scaling and potential inventory builds to meet demand in the automotive and industrial sectors. Investors should monitor these cycles closely, as they may indicate potential inefficiencies in supply chain management or shifts in distributor demand patterns.
Analysis of the cash flow statement reveals that stock-based compensation, which reached $27.8 million in 2025Q3, is a critical component of the company's operating structure, effectively masking the underlying cash burn that would otherwise be apparent if these expenses were settled in cash rather than equity.
By relying heavily on equity-based compensation, the company preserves cash but creates a persistent dilutive effect for shareholders. This strategy appears to be a necessary trade-off for talent retention in the semiconductor industry, yet it complicates the assessment of the company's true operational efficiency and long-term cash sustainability.
Quick answers to the most common questions about buying SITM stock.
SiTime Corporation (SITM) generated $87.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
SiTime Corporation (SITM) generated $35.1M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
SiTime Corporation (SITM) spent $52.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.