Revenue recovered 18.4% year-over-year to roughly $3.8B in 2026Q3 and operating margin widened to 10.9%, though net margin of 7.7% and gross margin of 37.3% still trail the 2024 peak levels.
STMicroelectronics N.V. (STM) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | 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 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 13.67B | 11.84B | 13.27B | 17.29B | 16.13B | 12.76B | 10.22B | 9.56B | 9.66B | 8.35B | 6.97B | 6.9B | 7.4B | 8.08B | 8.49B | 9.73B | 10.35B | 8.51B | 9.84B | 10B | 9.85B | 8.88B | 8.76B | 7.24B | 6.32B | 6.36B | 7.81B | 5.06B | 4.25B | 4.02B | 4.12B |
| Revenue Growth % | 15.64% | -10.8% | -23.24% | 7.18% | 26.39% | 24.88% | 6.94% | -1.12% | 15.78% | 19.7% | 1.1% | -6.85% | -8.39% | -4.84% | -12.76% | -5.91% | 21.57% | -13.53% | -1.59% | 1.49% | 10.94% | 1.39% | 21.03% | 14.56% | -0.61% | -18.64% | 54.52% | 19.03% | 5.69% | -2.5% | 15.98% |
| Cost of Goods Sold | 8.83B | 7.83B | 8.05B | 9B | 8.49B | 7.43B | 6.43B | 5.86B | 6.1B | 5.31B | 4.73B | 4.91B | 5.32B | 5.47B | 5.71B | 6.16B | 6.33B | 5.88B | 6.28B | 6.46B | 6.33B | 5.84B | 5.53B | 4.67B | 4.02B | 4.05B | 4.22B | 3.05B | 2.62B | 2.46B | 2.41B |
| COGS % of Revenue | - | 66.11% | 60.66% | 52.06% | 52.66% | 58.26% | 62.92% | 61.32% | 63.08% | 63.65% | 67.85% | 71.15% | 71.87% | 67.66% | 67.23% | 63.29% | 61.19% | 69.14% | 63.83% | 64.64% | 64.25% | 65.81% | 63.15% | 64.55% | 63.63% | 63.66% | 53.97% | 60.41% | 61.75% | 61.14% | 58.58% |
| Gross Profit | 4.83B | 4.01B | 5.22B | 8.29B | 7.63B | 5.33B | 3.79B | 3.7B | 3.57B | 3.03B | 2.24B | 1.99B | 2.08B | 2.61B | 2.78B | 3.57B | 4.01B | 2.63B | 3.56B | 3.54B | 3.52B | 3.04B | 3.23B | 2.57B | 2.3B | 2.31B | 3.6B | 2B | 1.62B | 1.56B | 1.71B |
| Gross Margin % | 35.36% | 33.89% | 39.34% | 47.94% | 47.34% | 41.74% | 37.08% | 38.68% | 36.92% | 36.35% | 32.15% | 28.85% | 28.13% | 32.34% | 32.77% | 36.71% | 38.81% | 30.86% | 36.17% | 35.36% | 35.75% | 34.19% | 36.85% | 35.45% | 36.37% | 36.34% | 46.03% | 39.59% | 38.25% | 38.86% | 41.42% |
| Gross Profit Growth % | - | -23.15% | -37.01% | 8.54% | 43.35% | 40.56% | 2.52% | 3.59% | 17.6% | 35.33% | 12.66% | -4.46% | -20.31% | -6.07% | -22.13% | -10.98% | 52.89% | -26.24% | 0.68% | 0.37% | 16% | -5.92% | 25.8% | 11.66% | -0.52% | -35.77% | 79.65% | 23.2% | 4.04% | -8.54% | -7.73% |
| Operating Expenses | 3.9B | 3.69B | 3.54B | 3.68B | 3.2B | 2.91B | 2.47B | 2.49B | 2.19B | 1.99B | 2.06B | 1.86B | 2.19B | 2.79B | 3.49B | 3.45B | 3.44B | 3.36B | 3.76B | 2.81B | 2.77B | 2.67B | 2.47B | 2.03B | 1.66B | 1.29B | 1.81B | 1.48B | 1.1B | 1.04B | 908.23M |
| OpEx % of Revenue | - | 31.15% | 26.71% | 21.27% | 19.82% | 22.78% | 24.13% | 26.09% | 22.61% | 23.85% | 29.51% | 26.94% | 29.63% | 34.48% | 41.07% | 35.47% | 33.2% | 39.46% | 38.18% | 28.07% | 28.1% | 30% | 28.18% | 28.01% | 26.32% | 20.34% | 23.21% | 29.24% | 25.93% | 25.92% | 22.03% |
| Selling, General & Admin | 1.75B | 1.64B | 1.65B | 1.63B | 1.45B | 1.32B | 1.11B | 1.11B | 1.11B | 993M | 920M | 891M | 940M | 1.07B | 1.17B | 1.21B | 1.18B | 1.16B | 1.19B | 1.1B | 1.07B | 1.03B | 947M | 785M | 648M | 641.44M | 703.67M | 534.18M | 488.07M | 454.31M | 421.01M |
| SG&A % of Revenue | - | 13.83% | 12.43% | 9.44% | 9.02% | 10.37% | 10.85% | 11.61% | 11.44% | 11.9% | 13.19% | 12.92% | 12.7% | 13.19% | 13.73% | 12.43% | 11.36% | 13.62% | 12.06% | 10.99% | 10.83% | 11.55% | 10.81% | 10.85% | 10.26% | 10.09% | 9.01% | 10.56% | 11.49% | 11.3% | 10.21% |
| Research & Development | 2.15B | 2.05B | 2.08B | 2.1B | 1.9B | 1.72B | 1.55B | 1.62B | 1.13B | 1.05B | 1.13B | 1.11B | 1.16B | 1.82B | 2.41B | 2.35B | 2.35B | 2.16B | 2.15B | 1.71B | 1.67B | 1.63B | 1.53B | 1.24B | 1.02B | 977.93M | 1.03B | 835.96M | 689.78M | 610.85M | 532.29M |
| R&D % of Revenue | - | 17.32% | 15.65% | 12.15% | 11.79% | 13.5% | 15.15% | 16.99% | 11.66% | 12.63% | 16.13% | 16.11% | 15.6% | 22.47% | 28.41% | 24.16% | 22.71% | 25.42% | 21.87% | 17.05% | 16.92% | 18.35% | 17.49% | 17.1% | 16.18% | 15.38% | 13.14% | 16.53% | 16.24% | 15.2% | 12.91% |
| Other Operating Expenses | 0 | 0 | -182M | -55M | -159M | -139M | -191M | -240M | -1M | -8M | 0 | 2M | 259M | -95M | -91M | 4.59B | 4.61B | 4.56B | 4.24B | 0 | 3.37B | 0 | 0 | 0 | 0 | -326.49M | 83.53M | 108.25M | -76.46M | -23.22M | -45.07M |
| Operating Income | 930.85M | 324M | 1.68B | 4.61B | 4.44B | 2.42B | 1.32B | 1.2B | 1.35B | 1.08B | 271M | 109M | 148M | -465M | -2.08B | 46M | 476M | -1.02B | -198M | -545M | 677M | 244M | 683M | 334M | 601M | 671.5M | 1.78B | 523.41M | 523.41M | 519.82M | 799.42M |
| Operating Margin % | 6.81% | 2.74% | 12.63% | 26.67% | 27.52% | 18.96% | 12.95% | 12.59% | 14.02% | 12.93% | 3.89% | 1.58% | 2% | -5.75% | -24.5% | 0.47% | 4.6% | -12.02% | -2.01% | -5.45% | 6.87% | 2.75% | 7.8% | 4.61% | 9.51% | 10.56% | 22.82% | 10.35% | 12.32% | 12.93% | 19.39% |
| Operating Income Growth % | - | -80.67% | -63.65% | 3.87% | 83.51% | 82.84% | 9.98% | -11.22% | 25.58% | 298.15% | 148.62% | -26.35% | 131.83% | 77.66% | -4623.91% | -90.34% | 146.53% | -416.67% | 63.67% | -180.5% | 177.46% | -64.28% | 104.49% | -44.43% | -10.5% | -62.33% | 240.6% | 0% | 0.69% | -34.98% | 32.14% |
| EBITDA | 2.41B | 2.18B | 3.44B | 6.17B | 5.66B | 3.46B | 2.25B | 2.06B | 2.15B | 1.73B | 967M | 1B | 1.16B | 445M | -974M | 1.32B | 1.72B | 344M | 1.17B | 886M | 2.46B | 2.19B | 2.55B | 2.01B | 2.07B | 2.07B | 2.92B | 1.33B | 1.23B | 1.13B | 1.34B |
| EBITDA Margin % | 17.61% | 18.4% | 25.89% | 35.71% | 35.06% | 27.15% | 21.98% | 21.53% | 22.21% | 20.71% | 13.87% | 14.51% | 15.6% | 5.51% | -11.47% | 13.61% | 16.59% | 4.04% | 11.87% | 8.86% | 24.97% | 24.69% | 29.09% | 27.77% | 32.76% | 32.57% | 37.37% | 26.31% | 28.9% | 28.06% | 32.39% |
| EBITDA Growth % | 4.7% | -36.61% | -44.33% | 9.14% | 63.25% | 54.23% | 9.19% | -4.15% | 24.12% | 78.8% | -3.4% | -13.33% | 159.55% | 145.69% | -173.51% | -22.79% | 398.84% | -70.55% | 31.83% | -64% | 12.22% | -13.93% | 26.77% | -2.9% | -0.02% | -29.09% | 119.51% | 8.37% | 8.82% | -15.53% | 33.88% |
| D&A (Non-Cash Add-back) | 1.48B | 1.85B | 1.76B | 1.56B | 1.22B | 1.04B | 923M | 854M | 791M | 650M | 696M | 892M | 1.01B | 910M | 1.11B | 1.28B | 1.24B | 1.37B | 1.37B | 1.43B | 1.78B | 1.95B | 1.86B | 1.68B | 1.47B | 1.4B | 1.14B | 806.79M | 704M | 608.12M | 535.91M |
| EBIT | 844.89M | 401.24M | 1.96B | 4.82B | 4.5B | 2.38B | 1.32B | 1.19B | 1.44B | 1B | 241M | 129M | 136M | -593M | -2.06B | 382M | 725M | -1.45B | -742M | -421M | 754M | 372M | 759M | 539M | 635M | 1.02B | 1.78B | 523.41M | 671.5M | 519.82M | 799.42M |
| Net Interest Income | 123M | 168M | 218M | 171M | 58M | -29M | -20M | 1M | -7M | -22M | -20M | -22M | -18M | -5M | -35M | -25M | -3M | 9M | 51M | 83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 181M | 223M | 303M | 226M | 71M | 13M | 34M | 55M | 47M | 30M | 20M | 18M | 12M | 18M | 41M | 0 | 31M | 59M | 132M | 156M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 58M | 55M | 85M | 55M | 13M | 42M | 54M | 54M | 54M | 52M | 40M | 40M | 30M | 23M | 76M | 25M | 34M | 50M | 81M | 73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -117.96M | 77.24M | 202M | 152M | 47M | -82M | -56M | -14M | -11M | -52M | -26M | -20M | -62M | -127M | -1.49B | 318M | -27M | -473M | -625M | -1.1B | 87M | -54M | -11M | -95M | -79M | -353M | 44.5M | 181.06M | 8.06M | -248K | -2.24M |
| Pretax Income | 812.89M | 401.24M | 1.88B | 4.76B | 4.49B | 2.34B | 1.27B | 1.19B | 1.76B | 343M | 153M | 139M | 98M | -592M | -2.14B | 336M | 691M | -1.5B | -823M | -494M | 764M | 275M | 672M | 239M | 522M | 318.13M | 1.83B | 704.47M | 531.47M | 519.57M | 797.18M |
| Pretax Margin % | 5.95% | 3.39% | 14.15% | 27.55% | 27.82% | 18.31% | 12.4% | 12.44% | 18.21% | 4.11% | 2.19% | 2.02% | 1.32% | -7.32% | -25.16% | 3.45% | 6.68% | -17.58% | -8.36% | -4.94% | 7.75% | 3.1% | 7.67% | 3.3% | 8.26% | 5% | 23.39% | 13.93% | 12.51% | 12.93% | 19.34% |
| Income Tax | 276.87M | 220.68M | 313M | 541M | 520M | 331M | 159M | 156M | 125M | 117M | 27M | -42M | -44M | 37M | 51M | 181M | 149M | -95M | -43M | -23M | -20M | 8M | 68M | -14M | 89M | 61.06M | 375.12M | 157.21M | 120.35M | 113.02M | 171.64M |
| Effective Tax Rate % | 34.06% | 55% | 16.67% | 11.36% | 11.59% | 14.16% | 12.55% | 13.12% | 7.1% | 34.11% | 17.65% | -30.22% | -44.9% | -6.25% | -2.39% | 53.87% | 21.56% | 6.35% | 5.22% | 4.66% | -2.62% | 2.91% | 10.12% | -5.86% | 17.05% | 19.19% | 20.53% | 22.32% | 22.64% | 21.75% | 21.53% |
| Net Income | 520.02M | 166.51M | 1.56B | 4.21B | 3.96B | 2B | 1.11B | 1.03B | 1.63B | 218M | 121M | 175M | 141M | -500M | -1.16B | 650M | 830M | -1.13B | -786M | -477M | 782M | 266M | 601M | 253M | 429M | 257.07M | 1.45B | 547.25M | 411.12M | 406.55M | 625.54M |
| Net Margin % | 3.81% | 1.41% | 11.73% | 24.36% | 24.55% | 15.67% | 10.82% | 10.8% | 16.86% | 2.61% | 1.74% | 2.54% | 1.9% | -6.19% | -13.63% | 6.68% | 8.02% | -13.29% | -7.99% | -4.77% | 7.94% | 2.99% | 6.86% | 3.5% | 6.79% | 4.04% | 18.59% | 10.82% | 9.68% | 10.12% | 15.17% |
| Net Income Growth % | -2.76% | -89.31% | -63.03% | 6.34% | 98% | 80.83% | 7.17% | -36.65% | 647.25% | 80.17% | -30.86% | 24.11% | 128.2% | 56.82% | -278.15% | -21.69% | 173.39% | -43.89% | -64.78% | -161% | 193.99% | -55.74% | 137.55% | -41.03% | 66.88% | -82.3% | 165.34% | 33.11% | 1.12% | -35.01% | 18.81% |
| Net Income (Continuing) | 536.02M | 180.56M | 1.56B | 4.22B | 3.97B | 2.01B | 1.11B | 1.03B | 1.28B | 812M | 163M | 110M | 129M | -629M | -2.19B | 155M | 542M | -1.4B | -780M | -471M | 784M | 267M | 604M | 253M | 429M | 257M | 1.45B | 547.25M | 411.12M | 406.55M | 625.54M |
| Discontinued Operations | 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 | 0 | 0 | 0 |
| Minority Interest | 407M | 397M | 230M | 123M | 65M | 64M | 58M | 68M | 65M | 63M | 61M | 61M | 61M | 74M | 139M | 393M | 910M | 1.22B | 276M | 53M | 52M | 50M | 48M | 45M | 42M | 36M | 32.96M | 24.76M | 22.01M | 15.8M | 9.9M |
| EPS (Diluted) | 0.56 | 0.18 | 1.66 | 4.46 | 4.74 | 2.16 | 1.20 | 1.14 | 1.79 | 0.89 | 0.19 | 0.12 | 0.14 | -0.56 | -1.31 | 0.72 | 0.92 | -1.29 | -0.88 | -0.53 | 0.78 | 0.29 | 0.65 | 0.27 | 0.48 | 0.29 | 1.58 | 0.62 | 0.48 | 0.47 | 0.75 |
| EPS Growth % | -1.75% | -89.16% | -62.78% | -5.91% | 119.44% | 80% | 5.26% | -36.31% | 101.12% | 368.42% | 58.33% | -14.29% | 125% | 57.25% | -281.94% | -21.74% | 171.32% | -46.59% | -66.04% | -167.95% | 168.97% | -55.38% | 140.74% | -43.75% | 65.52% | -81.65% | 154.84% | 29.17% | 2.13% | -37.33% | 11.94% |
| EPS (Basic) | - | 0.19 | 1.73 | 4.66 | 4.77 | 2.21 | 1.24 | 1.15 | 1.81 | 0.91 | 0.19 | 0.12 | 0.14 | -0.56 | -1.31 | 0.74 | 0.94 | -1.29 | -0.88 | -0.53 | 0.78 | 0.30 | 0.67 | 0.29 | 0.48 | 0.29 | 1.64 | 0.64 | 0.49 | 0.47 | 0.75 |
| Diluted Shares Outstanding | 931.7M | 923.1M | 938.6M | 944.2M | 912.27M | 923.76M | 919.73M | 903.65M | 910.96M | 906.09M | 886.25M | 880.55M | 889.81M | 889.54M | 886.7M | 904.46M | 911.11M | 876.93M | 891.96M | 898.73M | 1B | 917.24M | 924.62M | 937.04M | 893.75M | 886.21M | 919.05M | 882.66M | 856.5M | 839.94M | 836.04M |
| Basic Shares Outstanding | 881.82M | 873.68M | 900M | 903.51M | 905.61M | 904.33M | 894.58M | 894.3M | 899.36M | 884.71M | 881.25M | 876.51M | 886.53M | 889.54M | 883.97M | 883.62M | 880.38M | 876.93M | 891.96M | 898.73M | 1B | 886.67M | 897.01M | 872.41M | 893.75M | 886.21M | 885.43M | 855.08M | 844.77M | 835.39M | 833.01M |
| Dividend Payout Ratio | - | 192.78% | 18.5% | 5.3% | 5.35% | 10.25% | 15.19% | 20.74% | 13.26% | 98.17% | 207.44% | 200% | 251.06% | - | - | 50.31% | 25.54% | - | - | - | 13.68% | 40.23% | 17.8% | 28.06% | 8.39% | 14% | 1.83% | 4.17% | - | - | - |
Quick answers to the most common questions about buying STM stock.
For fiscal year 2025, STMicroelectronics N.V. (STM) reported total revenue of $11.84B. This represents a 187.1% increase compared to $4.12B in 1996.
STMicroelectronics N.V. (STM) is profitable, generating $166.5M in net income for the fiscal year ending 2025 with a net profit margin of 1.4%.
STMicroelectronics N.V. (STM) reported an operating income of $324.0M, resulting in an operating profit margin of 2.7%. This margin reflects the operational efficiency of the business before interest and taxes.
STMicroelectronics N.V. (STM) generated $4.01B in gross profit for the year, representing a gross profit margin of 33.9%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Cyclical revenue trough pressure
Revenue Recovering From Cyclical Trough
Based on STMicroelectronics' reported quarterly figures, revenue reached roughly $3.8B in 2026Q3 with year-over-year growth of 18.4%, a sharp reversal from the -27.3% contraction recorded in 2025Q1 and suggesting the cycle may be turning.
The sequential build from $2.5B in early 2025 to $3.8B in the latest quarter suggests demand is recovering, though the reported figures do not disclose whether volume or pricing is driving the improvement. Investors should monitor whether growth persists across both the automotive and industrial segments, since a recovery led only by distributor restocking would prove less durable than one reflecting end-market consumption.
Gross Margin Rebuilding Off Low Base
According to reported income statement data, gross margin expanded from 33.8% in 2026Q1 to 37.3% in 2026Q3, still below the 40.1% achieved in 2024Q2, indicating utilization and mix have not fully normalized.
The IDM model carries heavy fixed fab costs, so the margin trajectory is highly sensitive to utilization, and the gap relative to 2024 levels suggests capacity remains underabsorbed. This appears consistent with a business still recovering rather than one operating at structurally restored profitability, and warrants monitoring of whether 300mm mix and SiC contribution can lift margins toward prior peaks.
Operating Leverage Cutting Both Ways
Operating margin moved from a negative -1.5% in 2025Q1 to 10.9% in 2026Q3 on reported figures, showing that incremental revenue has translated into disproportionately higher operating income.
Operating income of $408M on $3.8B revenue in the latest quarter reflects the fixed-cost leverage that amplified the earlier downturn now working in reverse. Because SG&A and R&D remained broadly flat near $430M and $540M respectively, the operating profit gain appears driven primarily by gross profit growth rather than cost cuts, which means further revenue softness would likely compress margins just as sharply.
Net Income Lags Operating Recovery
Reported net income of $291M in 2026Q3 against operating income of $408M implies a meaningful gap, and EPS of 0.31 reflects a net margin of 7.7% that trails operating margin by roughly three points.
The spread between operating and net income suggests taxes, financing costs, or non-operating items absorbed a material portion of operating gains, though the supplied data does not isolate these components. Stock-based compensation was reported as zero in the latest quarter after $39M to $47M in prior periods, a discontinuity that warrants verification against primary filings before treating reported earnings as a clean baseline.
Recovery Narrative Rests on Few Quarters
Strip away the two most recent quarters and STM's reported income statement shows operating income swinging between negative and modestly positive for much of 2025, raising questions about whether the current improvement is sustainable.
Operating income was negative in both 2025Q1 and 2025Q2, and 2025Q4 net income turned negative at -$30M despite positive operating income, which suggests earnings quality has been volatile. A short-seller framing would emphasize that the margin rebound may reflect cyclical restocking and grant or tax timing rather than durable structural improvement, and that the 2024 margin peak may not be recoverable without a sustained demand upcycle.