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Nasdaq · Technology

SkyWater Technology, LLC (SKYT)

As-reported financials and SEC filings for SkyWater Technology, LLC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About SkyWater Technology, LLC

SkyWater Technology, Inc. is a U.S.-based semiconductor foundry that provides foundational-node wafer fabrication, advanced technology development, and advanced packaging services. The company operates manufacturing and packaging facilities in Minnesota, Texas, and Florida, serving commercial and government customers who require secure domestic manufacturing, long product life cycles, and high reliability. SkyWater focuses on mature and specialty semiconductor technologies used in industries such as aerospace, defense, automotive, industrial automation, and medical devices.

Snapshot

Revenue
$442.1M
Revenue growth (YoY)
29.2%
Net income
$118.9M
Diluted EPS
$2.44
Gross margin
19.7%
Operating margin
-0.6%
Net margin
26.9%
FCF margin
-12.1%
ROE
60.7%
net income / fiscal-year-end equity
P/E
13.9×
trailing when available, otherwise FY EPS
Market cap
$1.60B
Long-term debt / equity
0.17×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 28, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at SkyWater Technology

  • Revenue grew 29.2% to $442M in FY2025, faster than the 19.4% the year before.
  • Operating margin is -0.6% in FY2025, +34.5 pp against -35.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $156M, up 164.8% from Q2 FY2025.
  • Free cash flow was negative $53M in FY2025.
  • Net income turned positive at $119M in FY2025, from a $7M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where SkyWater Technology’s fundamentals sit among the 88 semiconductor companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin19.7%
18th percentile of 78
Operating margin-0.6%
44th percentile of 79
Net margin26.9%
90th percentile of 80
FCF margin-12.1%
19th percentile of 78
Revenue growth (YoY)+29.2%
74th percentile of 88
ROE60.7%
99th percentile of 74
P/E13.9×
14th percentile of 44
Long-term debt / equity0.17×
37th percentile of 44
Short interest2.79d
51st percentile of 88

SkyWater Technology’s return on equity of 60.7% ranks in the 99th percentile of the 74 semiconductor companies reporting it. SkyWater Technology’s net margin of 26.9% ranks in the 90th percentile of the 80 semiconductor companies reporting it. SkyWater Technology’s P/E of 13.9 ranks in the 14th percentile of the 44 peers with a meaningful P/E.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+7 quant / multi-strat
Initiated / added
4
2 new, 2 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$47.3M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$17.5M503.0KReduced
D. E. ShawquantQ2 2026$16.4M470.5KAdded
Renaissance TechnologiesquantQ2 2026$9.1M260.9KNew
Two Sigma InvestmentsquantQ2 2026$1.5M44.3KReduced
Point72 Asset ManagementquantQ2 2026$1.1M31.8KReduced
Citadel AdvisorsquantQ2 2026$909,63826.1KAdded
AQR Capital ManagementquantQ2 2026$475,04913.6KReduced
Maverick CapitalQ2 2026$328,3539.4KNew

No longer held by: Polen Capital Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-05-11
filed 2026-05-13
Manko SteveCFOSell75.0K$35.08$2.6M
2026-04-14
filed 2026-04-16
Manko SteveCFOSell84.2K$30.41$2.6M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.3M
settled 2026-07-31
Change vs prior
-19.1%
vs previous settlement
Days to cover
2.79
at avg daily volume
Avg daily volume
824.0K
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-312.3M-19.1%2.79
2026-07-152.8M+14.1%3.72
2026-06-302.5M+1.5%3.12
2026-06-152.5M-9.9%3.16
2026-05-292.7M-7.1%2.58
2026-05-152.9M-1.7%2.12
2026-04-303.0M-4.9%2.82
2026-04-153.1M+1.5%2.44

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$442.1M$342.3M$286.7M$212.9M$162.8M
Gross profit$86.9M$69.6M$59.3M$26.0M$-7.5M
Operating income$-2.6M$6.6M$-14.8M$-29.8M$-57.1M
Net income$118.9M$-6.8M$-30.8M$-39.6M$-50.7M
Diluted EPS$2.44$-0.14$-0.68$-0.97$-1.76

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$23.2M$18.8M$18.4M$30.0M$12.9M
Current assets$193.2M$130.1M$146.4M$116.6M$74.4M
Total assets$733.9M$311.8M$316.8M$305.8M$263.6M
Current liabilities$324.0M$154.3M$144.2M$132.2M$47.8M
Long-term debt$32.9M$34.7M$36.1M$35.2M$58.4M
Total liabilities$538.1M$250.3M$256.1M$251.8M$203.7M
Total equity$195.8M$61.5M$60.7M$54.0M$59.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-29.0M$18.5M$10.1M$-14.3M$-55.7M
Capital expenditure$24.3M$7.9M$8.6M$17.1M$30.8M
Free cash flow$-53.3M$10.5M$1.5M$-31.4M$-86.4M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$156.4M164.8%$-6.4M$-0.13
Q1 FY2026$160.7M162.1%$-12.3M$-0.25
Q4 FY2025$171.0M126.6%$-7.8M$-0.16
Q3 FY2025$150.7M60.7%$144.0M$2.95
Q2 FY2025$59.1M-36.7%$-10.0M$-0.21
Q1 FY2025$61.3M-23.0%$-7.3M$-0.15
Q4 FY2024$75.5M-4.6%$-679,000$-0.01
Q3 FY2024$93.8M31.0%$1.5M$0.03

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industrySemiconductors & Related Devices
Latest annual periodFY2025 (ended December 28, 2025)
Latest reported quarterQ2 FY2026 (ended June 28, 2026)
Oldest indexed filing2020
SEC CIK1819974

Selected SEC filings

10-K2026-03-11
View on EDGAR →
10-Q2026-08-07
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
8-K2026-07-31
View on EDGAR →
8-K2026-07-28
View on EDGAR →
8-K2026-06-16
View on EDGAR →
8-K2026-05-08
View on EDGAR →

Largest semiconductor peers

All semiconductor stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.