Free cash flow generation remains highly volatile, swinging to a $4.9 million deficit in 2026Q1 despite maintaining a robust current ratio of 5.11.
| Metric | TTM | Jan'26 | Dec'24 | Dec'23 | Dec'22 | Jan'22 | Jan'21 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Cash from Operations | 52.51M | 95.71M | -13.91M | -30.35M | 71.81M | -100.44M | 135.72M | 166.52M | 173.54M | 189.52M | 128.91M | 105.45M | 137.44M | 120.15M | 97.05M | 88.74M | 117.94M | 120.94M | 119.68M | 54.78M | 83.28M | 103.99M | 96.27M | 71.88M | 39.04M | 11.71M | 22.61M | 12.3M |
| Operating CF Margin % | - | 12.2% | -2.38% | -3.88% | 7.01% | -13.93% | 26.56% | 35.15% | 19.99% | 24.65% | 18.48% | 16.35% | 22.14% | 20.71% | 17.23% | 18.05% | 23.91% | 27.42% | 28.8% | 16.23% | 17.93% | 24.43% | 21.1% | 22.1% | 21.45% | 15.81% | 21.93% | 26.23% |
| Operating CF Growth % | -168.37% | 788.05% | 54.16% | -142.26% | 171.49% | -174.01% | -18.5% | -4.05% | -8.43% | 47.02% | 22.25% | -23.28% | 14.39% | 23.8% | 9.36% | -24.75% | -2.49% | 1.05% | 118.47% | -34.22% | -19.91% | 8.02% | 33.92% | 84.13% | 233.32% | -48.2% | 83.82% | - |
| Net Income | -50.33M | -64.91M | -191.01M | -34.52M | 91.4M | 2.12B | 12.53M | 19.27M | 83.59M | 47.09M | 61.49M | 29.59M | 38.02M | 49.82M | 63.55M | 35.47M | 73.24M | 73.09M | 32.94M | 204.84M | 31.16M | 47.51M | 76.69M | 44.72M | 20.72M | -45.57M | 14.02M | 11M |
| Depreciation & Amortization | 34.74M | 38.09M | 48.59M | 51.08M | 56.59M | 62.56M | 58.84M | 56.47M | 60.01M | 42.01M | 40.93M | 41.65M | 30.48M | 29.4M | 27.77M | 24.6M | 19.29M | 19.73M | 18.62M | 16.09M | 21.23M | 20.53M | 23.74M | 24.16M | 17.59M | 18.17M | 13.83M | 3.1M |
| Stock-Based Compensation | 81.67M | 80.32M | 61.5M | 48.21M | 60.51M | 56.84M | 49.45M | 54.8M | 50.08M | 44.75M | 39.63M | 42.79M | 39.07M | 30.8M | 31.18M | 36.12M | 40.32M | 43.97M | 0 | 39.98M | 39.4M | 7.27M | 4.24M | 4.99M | 0 | 0 | 0 | 0 |
| Deferred Taxes | 3.55M | 881K | 29.47M | -11.81M | -18.24M | -3.41M | -6.53M | 23.05M | -8.21M | -26.45M | -4.09M | -2.14M | 3.05M | 3.32M | 4.72M | 2.37M | -552K | 1.9M | 1.82M | -153K | -7.02M | -3.52M | -3.65M | 505K | 0 | -152K | -302K | 0 |
| Other Non-Cash Items | 0 | 0 | 0 | 16.99M | -70.86M | -2.35B | 39.92M | 13.48M | 12.89M | 10.15M | -1.67M | -2.03M | -143K | -896K | -7.22M | -1.08M | 904K | 593K | 40.61M | -153.25M | 9.55M | 18.43M | 355K | 5.33M | 1.87M | 35.55M | 1.23M | 400K |
| Working Capital Changes | -17.11M | 41.33M | 37.54M | -100.3M | -47.6M | 20.68M | -18.49M | -542K | -24.82M | 71.97M | -7.38M | -4.41M | 26.96M | 7.71M | -22.96M | -8.73M | -15.27M | -18.34M | 14.76M | -52.71M | -11.04M | 13.78M | -5.12M | -7.81M | -1.13M | 3.72M | -6.17M | -2.2M |
| Change in Receivables | -25.05M | -10.03M | -25.18M | 42.14M | 26.88M | -3.14M | -17.61M | -2.4M | 3.93M | 3.23M | 46K | 1.7M | 1.76M | 8.97M | -20.74M | -8.56M | 11.34M | -19.66M | 0 | -14.55M | 7.18M | -22.55M | 1.61M | -19.54M | 0 | 0 | 0 | 0 |
| Change in Inventory | -19.72M | 9.99M | 88.49M | -93.4M | -51.04M | -1.51M | 9.15M | 2.17M | 7.66M | -13.42M | -6.09M | 2.09M | -7.17M | 5.59M | -13.06M | 5.33M | -7.81M | -3.22M | 3.73M | -6.39M | -16.93M | 15.27M | -4.34M | -19.2M | -8.1M | 2M | -3.85M | -2.2M |
| Change in Payables | 486K | 6.33M | -15.15M | -25.64M | 36.8M | -7.7M | 15.26M | 7.83M | 5.95M | -468K | 263K | 6.66M | 11.47M | -3.98M | 7.22M | -2.18M | -777K | 0 | 0 | -3.13M | -5.1M | 15.83M | -10.69M | 24.68M | 0 | 0 | 0 | 0 |
| Cash from Investing | 6.76M | -12.03M | 113.12M | 469.81M | 240.54M | 2.27B | -361.01M | -106.77M | -197.03M | -374.29M | -49.58M | -49.31M | -26.31M | -105.91M | -139.34M | -25.17M | -55.24M | -104.34M | 69.17M | 255.21M | -110.34M | 82.55M | -58.12M | -11.21M | -46.29M | 18.71M | -68.94M | -13.5M |
| Capital Expenditures | -38.91M | -29.92M | -11.75M | -22.28M | -26.52M | -28.58M | -18.09M | -16.28M | -24.46M | -12.25M | -10.93M | -11.27M | -11.22M | -10.47M | -102.04M | -8.69M | -13.85M | -8.94M | -12.53M | -5.39M | -29.77M | -20.38M | -20.51M | -11.44M | -21.5M | -5.4M | -15.84M | -9.9M |
| CapEx % of Revenue | 4.74% | 3.81% | 2.01% | 2.85% | 2.59% | 3.96% | 3.54% | 3.44% | 2.82% | 1.59% | 1.57% | 1.75% | 1.81% | 1.81% | 18.12% | 1.77% | 2.81% | 2.03% | 3.01% | 1.6% | 6.41% | 4.79% | 4.5% | 3.52% | 11.81% | 7.29% | 15.37% | 21.11% |
| Acquisitions | 0 | 0 | 0 | 0 | -267.06M | 2.75B | -316.81M | -2.51M | -239.73M | -15.17M | -6.55M | -96.11M | 0 | -86.44M | -71.85M | -27.26M | -28.02M | -4.3M | -78.48M | -8.54M | -21.22M | -6K | -114K | 5.37M | 0 | 0 | -14.43M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 1.84M | -3.42M | 0 | -520K | 267.06M | -1.16M | -3.9M | -8.4M | -11.06M | -4.96M | -8.8M | -6.4M | -5.51M | -5.94M | -8.51M | -4.02M | -8.37M | -6.41M | 6.71M | 259.59M | -4.45M | -17.19M | -1.86M | -7.12M | -2.72M | -821K | -1.25M | 0 |
| Cash from Financing | -1.07M | -1.07M | -45.1M | -711.87M | -887.05M | -1.3B | 200.87M | -29.65M | -48.84M | 313.03M | -52.3M | -83.75M | -65.22M | -23.86M | 52.75M | -107.17M | -119.86M | 6.87M | -280.99M | -113.77M | -5.26M | 20.19M | 13.01M | 16.74M | -1.15M | 25K | 90.04M | 6.5M |
| Debt Issued (Net) | 0 | 0 | -45M | -491.16M | -21K | -140.57M | 220.26M | -1.13M | 0 | 327.5M | -5M | -13.47M | -7.5M | -13.43M | 98.33M | -7.17M | 0 | 0 | 0 | 0 | -774K | 0 | 0 | 228K | -3.84M | -1.68M | -3.04M | 5.6M |
| Equity Issued (Net) | 14.64M | 14.64M | 16.33M | -202.53M | -871.64M | -1.14B | -1.27M | -12.22M | -25.97M | 11.81M | -27.24M | -68.32M | -58.36M | -10.72M | -46.87M | -102.4M | -122.28M | 5.01M | -281.88M | -141.97M | -18.4M | 17.98M | 13.01M | 16.51M | 2.69M | 1.71M | 93.08M | 800K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -16K | -217.14M | -883.42M | -1.15B | -16.29M | -26.72M | -39.28M | 0 | -40.54M | -71.45M | -71.68M | -26.02M | -62.02M | -110.06M | -140.33M | -20.18M | -291.1M | -163.84M | -51.34M | 0 | 0 | -21K | -98K | 0 | -70K | 0 |
| Other Financing | -15.7M | -15.71M | -16.43M | -18.19M | -15.39M | -22.24M | -18.12M | -16.3M | -22.86M | -26.29M | -20.06M | -1.97M | 632K | 290K | 1.29M | 2.4M | 2.41M | 1.86M | 888K | 1.96M | 12.62M | 2.21M | 0 | 0 | 0 | 0 | 0 | 100K |
| Net Change in Cash | 58.21M | 82.61M | 54.1M | -272.41M | -574.71M | 871.9M | -24.43M | 30.1M | -72.32M | 128.26M | 27.02M | -27.62M | 45.91M | -9.63M | 10.46M | -43.6M | -57.17M | 23.46M | -92.14M | 196.22M | -32.32M | 206.73M | 51.16M | 77.41M | -8.4M | 30.44M | 43.7M | 5.3M |
| Free Cash Flow | 17.61M | 65.79M | -25.66M | -52.63M | 45.28M | -129.02M | 117.63M | 150.24M | 149.08M | 177.27M | 117.98M | 94.18M | 126.22M | 109.68M | -4.99M | 80.05M | 104.08M | 112M | 107.16M | 49.39M | 53.51M | 83.61M | 75.76M | 60.44M | 17.54M | 6.31M | 6.77M | 2.4M |
| FCF Margin % | 2.15% | 8.38% | -4.39% | -6.73% | 4.42% | -17.9% | 23.02% | 31.71% | 17.17% | 23.06% | 16.91% | 14.61% | 20.33% | 18.91% | -0.89% | 16.28% | 21.1% | 25.4% | 25.78% | 14.64% | 11.52% | 19.64% | 16.61% | 18.58% | 9.64% | 8.52% | 6.56% | 5.12% |
| FCF Growth % | -80.75% | 356.4% | 51.25% | -216.23% | 135.1% | -209.68% | -21.71% | 0.78% | -15.9% | 50.25% | 25.28% | -25.38% | 15.08% | 2296.64% | -106.24% | -23.09% | -7.07% | 4.52% | 116.94% | -7.69% | -36% | 10.37% | 25.33% | 244.59% | 177.9% | -6.72% | 181.96% | - |
| FCF per Share | 0.53 | 2.01 | -0.80 | -1.65 | 1.26 | -2.91 | 2.65 | 3.39 | 3.38 | 4.09 | 2.78 | 2.19 | 2.88 | 2.52 | -0.12 | 1.79 | 2.23 | 2.41 | 2.19 | 0.88 | 0.94 | 1.51 | 1.38 | 1.16 | 0.35 | 0.14 | 0.14 | 0.05 |
| FCF Conversion (FCF/Net Income) | -0.35x | -1.47x | 0.07x | 0.88x | 0.79x | -0.05x | 10.83x | 8.64x | 2.08x | 4.02x | 2.10x | 3.56x | 3.61x | 2.41x | 1.53x | 2.50x | 1.61x | 1.65x | 3.63x | 0.27x | 2.67x | 2.19x | 1.26x | 1.61x | 1.88x | -0.26x | 1.61x | 1.12x |
| Interest Paid | 0 | 0 | 988K | 4.47M | 4.43M | 5.01M | 8.66M | 6.37M | 6.23M | 3.86M | 2.22M | 2.47M | 2.95M | 2.92M | 677K | 35K | 90K | 279K | 440K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 19.12M | 31.71M | 132M | 266.28M | 7.22M | 10.29M | 20.6M | 8.93M | 11.19M | 2.16M | 11.59M | 3.84M | 23.56M | 8.24M | 20.78M | 4.5M | 18.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent Operating Margin Deficit
As reported in recent financial statements, Silicon Laboratories exhibits a persistent disconnect between net losses and operating cash flow, with the OCF/NI ratio fluctuating wildly, most notably reaching -3.11 in 2025Q4, which highlights the heavy reliance on non-cash adjustments to maintain positive cash flow.
The consistent gap between net income and operating cash flow suggests that the company's reported losses are significantly mitigated by non-cash charges, primarily stock-based compensation. Investors should monitor whether this reliance on non-cash add-backs is sustainable, as it may mask the underlying difficulty in achieving self-sustaining operational profitability.
Based on quarterly cash flow data, the company's free cash flow trajectory remains highly inconsistent, swinging from a peak of $43.3 million in 2025Q1 to a deficit of $4.9 million in 2026Q1, reflecting the inherent instability of a business model currently struggling to scale.
The erratic nature of free cash flow suggests that the company is highly sensitive to cyclical demand shifts and inventory management. This volatility warrants further investigation into whether the current cash flow profile is a temporary byproduct of the IoT transition or a structural limitation of the firm's current cost base.
According to historical cash flow filings, working capital changes have been a primary driver of cash flow variance, with a significant $48.7 million inflow in 2025Q1 followed by a $16.7 million outflow in 2025Q4, indicating aggressive fluctuations in inventory and receivables management.
These sharp swings in working capital suggest that the company's cash position is heavily influenced by the timing of distributor shipments and inventory clearing. Such dynamics imply that cash flow may not accurately reflect underlying end-market demand, potentially leading to periods of artificial cash accumulation or depletion.
Analysis of recent SEC filings reveals that stock-based compensation consistently exceeds $15 million per quarter, reaching $21.1 million in 2026Q1, which effectively serves as a critical non-cash buffer that prevents the company's reported cash flow from reflecting the full extent of its operational losses.
The magnitude of stock-based compensation relative to operating cash flow suggests that the company's ability to generate cash is heavily dependent on equity-based incentives rather than core operational efficiency. This practice may obscure the true cash-burn rate and warrants caution regarding the long-term dilution and cost of maintaining the current talent base.
Quick answers to the most common questions about buying SLAB stock.
Silicon Laboratories Inc. (SLAB) generated $95.7M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Silicon Laboratories Inc. (SLAB) generated $65.8M 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.
Silicon Laboratories Inc. (SLAB) spent $29.9M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.