WOLFSPEED, INC. WOLF
Wolfspeed, Inc. ("Wolfspeed", the "Company", "we", "our", or "us") is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Our product families include silicon carbide materials and power devices. Our products are targeted for various applications in the Automotive domain, including electric vehicles and fast charging, as well as existing and emerging applications in the Industrial & Energy domain such as AI data centers, grid modernization and renewable energy and storage as well as aerospace and defense.
The majority of our products are manufactured at our production facilities located in North Carolina, New York and Arkansas. We also use contract manufacturers, some of which include captive lines, for certain products and aspects of product fabrication, assembly and packaging. We operate research and development facilities in North Carolina, Arkansas and New York.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $757.6M | $807.2M | $758.5M | $572.1M | $525.6M | $470.7M | $538.2M | $328.6M | $771.5M |
| Cost of revenue | — | $879.2M | $729.8M | $515.6M | $364.0M | $361.0M | $312.2M | $294.5M | $183.6M | $527.5M |
| Gross profit | — | -$121.6M | $77.4M | $242.9M | $208.1M | $164.6M | $158.5M | $243.7M | $145.0M | $244.0M |
| R&D | — | $175.1M | $201.9M | $165.7M | $142.6M | $177.8M | $152.0M | $121.1M | $89.8M | $113.8M |
| SG&A | — | $190.5M | $246.4M | $214.3M | $183.0M | $181.6M | $181.7M | $168.9M | $143.8M | $145.7M |
| Total operating expenses | — | — | — | — | — | — | — | — | $736.7M | $453.2M |
| Operating income | — | -$1.33B | -$445.3M | -$311.8M | -$203.1M | -$313.9M | -$224.1M | -$93.5M | -$120.5M | -$20.1M |
| Interest expense | — | $315.2M | $246.3M | $42.6M | $25.1M | $45.4M | $34.9M | $26.0M | $7.3M | — |
| Pre-tax income | — | -$1.62B | -$572.5M | -$259.8M | -$241.9M | -$340.2M | -$205.6M | -$122.9M | -$110.1M | -$7.1M |
| Income tax | — | $9.7M | $1.1M | $700.0K | $8.2M | $1.1M | $8.0M | $4.4M | $35.2M | $81.0M |
| Net income | — | -$1.61B | -$864.2M | -$329.9M | -$200.9M | -$523.9M | -$191.7M | -$375.1M | -$280.0M | -$98.1M |
| EPS, basic | — | -11.39 | -6.88 | -2.65 | -1.67 | -4.66 | -1.78 | -3.62 | -2.81 | -1.00 |
| EPS, diluted | — | -11.39 | -6.88 | -2.65 | -1.67 | -4.66 | -1.78 | -3.62 | -2.81 | -1.00 |
| Shares, diluted (wtd. avg.) | — | $141.3M | $125.7M | $124.4M | $120.1M | $112.3M | $107.9M | $103.6M | $99.5M | $98.5M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $576.3M | $467.2M | $1.05B | $1.76B | $449.5M | $379.0M | $448.8M | $500.5M | $118.9M | $132.6M |
| Short-term investments | $512.3M | $488.2M | $1.13B | $1.20B | $749.3M | $775.6M | $790.9M | $550.9M | $268.2M | $478.3M |
| Receivables | $98.2M | $178.8M | $147.4M | $154.8M | $150.2M | $95.9M | $72.4M | $128.9M | $86.4M | $148.4M |
| Inventory | $234.2M | $435.4M | $440.7M | $284.9M | $227.0M | $166.6M | $121.9M | $187.4M | $151.6M | $284.4M |
| Total current assets | $1.59B | $2.54B | $3.00B | $3.61B | $1.76B | $1.48B | $1.59B | $1.41B | $890.4M | $1.10B |
| Property, plant and equipment | — | — | — | — | — | — | $831.1M | $625.2M | $589.1M | $581.3M |
| Goodwill | — | $0 | $359.2M | $359.2M | $359.2M | $359.2M | $349.7M | $530.0M | $530.0M | $618.8M |
| Other intangibles | $392.2M | $23.8M | $23.9M | $23.9M | $125.4M | $140.5M | $156.9M | $197.9M | $215.8M | $274.3M |
| Total assets | $3.00B | $6.85B | $7.98B | $6.59B | $3.92B | $3.45B | $3.23B | $2.82B | $2.64B | $2.65B |
| Accounts payable | $118.5M | $280.2M | $523.6M | $534.5M | $307.7M | $381.1M | $189.8M | $200.9M | $148.5M | — |
| Short-term debt | $0 | $6.54B | $0 | — | — | — | — | — | — | — |
| Total current liabilities | $231.6M | $7.09B | $665.3M | $627.9M | $388.5M | $448.8M | $291.2M | $268.2M | $248.6M | $212.0M |
| Long-term debt | $1.69B | $6.54B | $6.16B | — | — | — | — | $0 | $292.0M | — |
| Total liabilities | $2.07B | $7.30B | — | — | — | — | — | — | — | — |
| Retained earnings | -$415.8M | -$4.54B | -$2.93B | -$2.06B | -$1.76B | -$1.56B | -$1.04B | -$847.5M | -$482.7M | -$202.7M |
| Total equity | $930.2M | -$447.1M | $882.1M | $1.62B | $2.44B | $2.12B | $2.09B | $2.04B | $2.07B | $2.22B |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$711.7M | -$725.6M | -$142.6M | -$154.2M | -$125.5M | -$29.0M | $202.3M | $173.5M | $220.5M |
| Depreciation and amortisation | — | $252.1M | $181.0M | $145.6M | $111.5M | $120.9M | $97.1M | $86.2M | $62.9M | $150.5M |
| Stock-based compensation | — | $73.3M | $84.9M | $72.7M | $53.7M | $53.2M | $47.2M | $42.9M | $33.0M | $47.7M |
| Capital expenditure | — | $1.27B | $2.27B | $949.6M | $636.8M | $570.5M | $229.9M | $124.7M | $167.1M | $86.9M |
| Investing cash flow | — | -$268.1M | -$1.94B | -$1.15B | -$391.0M | -$448.6M | -$486.9M | -$227.1M | -$423.9M | -$145.2M |
| Financing cash flow | — | $400.1M | $1.96B | $2.60B | $615.9M | $504.1M | $464.3M | $406.5M | $236.5M | -$108.7M |
| Buybacks | — | — | — | — | — | — | — | $0 | $0 | $104.0M |
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 0000895419-26-000054.
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