SITIME Corp SITM
The ability to accurately measure and reference time has been essential to humankind's greatest inventions and technological advances. Timing technology has continued to evolve over centuries, underpinning broader technological evolution and is the heartbeat of digital electronic systems. Timing ensures that the system runs smoothly and reliably by providing and distributing clock signals to various critical components such as central processing units, communication and interface ICs, and radio frequency components. As electronics evolve to deliver higher performance, connectivity, and intelligence, even in increasingly challenging environments, while also being more complex and size-constrained, we believe they will require more sophisticated semiconductor-based timing solutions that cannot be developed in legacy quartz crystal-based technologies. Precision timing, a category that SiTime created ("Precision Timing") fills this need with the performance, resilience, reliability, power, size, and cost that is required by these applications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $326.7M | $202.7M | $144.0M | $283.6M | $218.8M | $116.2M | $84.1M | $85.2M | — |
| Cost of revenue | $151.7M | $98.2M | $61.9M | $100.6M | $79.3M | $58.2M | $44.5M | $49.0M | — |
| Gross profit | $175.0M | $104.5M | $82.1M | $183.0M | $139.5M | $57.9M | $39.6M | $36.2M | — |
| R&D | $118.9M | $106.9M | $97.6M | $90.3M | $52.1M | $31.7M | $23.8M | $22.8M | — |
| SG&A | $116.5M | $102.2M | $84.0M | $76.5M | $54.5M | $34.9M | $20.6M | $21.2M | — |
| Total operating expenses | $242.0M | $219.7M | $189.3M | $166.8M | $106.6M | $66.5M | $44.4M | $44.0M | — |
| Operating income | -$67.0M | -$115.2M | -$107.2M | $16.1M | $32.8M | -$8.6M | -$4.9M | -$7.8M | — |
| Interest expense | — | — | — | — | — | $726.0K | $1.7M | $1.5M | — |
| Pre-tax income | -$42.3M | -$93.1M | -$80.4M | $23.3M | $32.4M | -$9.4M | -$6.6M | -$9.4M | — |
| Income tax | $598.0K | $486.0K | $152.0K | $82.0K | $78.0K | $1.0K | $8.0K | $26.0K | — |
| Net income | -$42.9M | -$93.6M | -$80.5M | $23.3M | $32.3M | -$9.4M | -$6.6M | -$9.3M | — |
| EPS, basic | -1.72 | -4.05 | -3.63 | 1.09 | 1.70 | -0.58 | -0.63 | — | — |
| EPS, diluted | -1.72 | -4.05 | -3.63 | 1.03 | 1.53 | -0.58 | -0.63 | -0.93 | — |
| Shares, diluted (wtd. avg.) | $25.0M | $23.1M | $22.2M | $22.7M | $21.1M | $16.1M | $10.6M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.8M | $6.1M | $9.5M | $34.6M | $559.5M | $73.5M | — | — | — |
| Receivables | $45.0M | $38.2M | $21.9M | $41.2M | $38.4M | $23.9M | $17.7M | $19.2M | — |
| Inventory | $81.6M | $76.7M | $65.5M | $57.6M | $23.6M | $12.3M | $11.9M | $20.5M | — |
| Total current assets | $949.3M | $544.1M | $623.2M | $669.1M | $625.9M | $113.2M | $99.7M | $53.1M | — |
| Property, plant and equipment | $105.1M | $82.5M | $54.7M | $58.8M | $37.9M | $11.7M | $9.3M | $11.3M | — |
| Goodwill | $87.1M | $87.1M | $87.1M | $0 | — | — | — | — | — |
| Other intangibles | $147.4M | $163.6M | $177.1M | $5.2M | $6.0M | $2.1M | $4.5M | $8.1M | — |
| Total assets | $1.29B | $885.0M | $951.7M | $750.6M | $678.2M | $136.0M | $123.4M | $72.7M | — |
| Accounts payable | $21.3M | $22.9M | $8.7M | $14.9M | $13.1M | $6.2M | $3.9M | $5.0M | — |
| Short-term debt | — | — | — | — | — | — | $41.0M | $46.0M | — |
| Total current liabilities | $84.0M | $108.4M | $121.4M | $33.8M | $37.4M | $19.1M | $53.3M | $58.7M | — |
| Total liabilities | $138.5M | $185.2M | $243.6M | $42.1M | $45.7M | $26.1M | $61.3M | $61.7M | — |
| Retained earnings | -$224.9M | -$182.0M | -$88.4M | -$7.9M | -$31.1M | -$63.4M | -$54.0M | -$47.4M | — |
| Total equity | $1.16B | $699.7M | $708.1M | $708.5M | $632.5M | $109.9M | $62.1M | $11.0M | $17.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $87.2M | $23.2M | $8.1M | $39.8M | $59.1M | $16.6M | $7.4M | -$1.0M | — |
| Depreciation and amortisation | $40.2M | $30.1M | $16.1M | $11.8M | $7.9M | $6.4M | $8.3M | $7.4M | — |
| Stock-based compensation | $103.5M | $92.6M | $76.8M | $57.4M | $30.0M | $16.0M | $1.4M | $831.0K | — |
| Capital expenditure | $52.0M | $36.2M | $8.9M | $31.8M | $30.9M | $6.1M | $1.4M | $2.3M | — |
| Investing cash flow | -$427.9M | $64.8M | -$36.7M | -$560.1M | -$33.8M | -$7.8M | -$3.2M | -$5.0M | — |
| Financing cash flow | $351.4M | -$91.3M | $3.5M | -$4.5M | $460.6M | $1.3M | $51.4M | $4.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001451809-26-000026.
Others in SIC 3674
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NVDA | NVIDIA CORP | $5.55T | 47.0x | 65.5% |
| AVGO | Broadcom Inc. | $1.70T | 75.0x | 23.9% |
| MU | MICRON TECHNOLOGY INC | $1.15T | 133.9x | 48.9% |
| AMD | ADVANCED MICRO DEVICES INC | $779.62B | 180.2x | 34.3% |
| INTC | INTEL CORP | $483.22B | — | -0.5% |
| AMAT | APPLIED MATERIALS INC /DE | $360.86B | 52.5x | 4.4% |
| TXN | TEXAS INSTRUMENTS INC | $236.02B | 47.4x | 13.0% |
| MRVL | Marvell Technology, Inc. | $196.03B | 72.8x | 42.1% |