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
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Hong Kong - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk
- Other - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk
- Taiwan - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk
- United States - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk
- Singapore - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Hong Kong - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk | $117.1M | $64.4M | $32.0M |
| Other - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk | $85.1M | $40.9M | $31.6M |
| Taiwan - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk | $84.5M | $64.8M | $44.0M |
| United States - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk | $22.5M | $15.9M | $20.0M |
| Singapore - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk | $17.4M | $16.6M | $16.5M |
As the company reported it, from the “Segment Information and Operations by Geographic Area - Schedule of Revenue by Country (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $85.2M | $84.1M | $116.2M | $218.8M | $283.6M | $144.0M | $202.7M | $326.7M |
| Gross profit | — | $36.2M | $39.6M | $57.9M | $139.5M | $183.0M | $82.1M | $104.5M | $175.0M |
| Net income | — | -$9.3M | -$6.6M | -$9.4M | $32.3M | $23.3M | -$80.5M | -$93.6M | -$42.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3674
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NVDA | NVIDIA CORP | $5.21T | 44.1x | 65.5% |
| AVGO | Broadcom Inc. | $1.57T | 69.0x | 23.9% |
| MU | MICRON TECHNOLOGY INC | $1.02T | 119.1x | 48.9% |
| AMD | ADVANCED MICRO DEVICES INC | $867.30B | 200.5x | 34.3% |
| INTC | INTEL CORP | $456.33B | — | -0.5% |
| AMAT | APPLIED MATERIALS INC /DE | $307.59B | 44.8x | 4.4% |
| TXN | TEXAS INSTRUMENTS INC | $272.26B | 54.7x | 13.0% |
| MRVL | Marvell Technology, Inc. | $205.00B | 76.1x | 42.1% |