Kulicke and Soffa Industries

KLIC · Nasdaq · Information Technology · Financials, fiscal 2016 to 2025

KLIC · Last close · November 6, 2026

$64.01

Value Kulicke and Soffa Industries yourself

Kulicke and Soffa Industries' revenue fell 7.4% to $654 million in fiscal 2025. Its operating margin was −0.5%, up from −13.1% a year earlier. Free cash flow was $96 million, up 547.2%. It paid out $151 million in dividends and buybacks, 157% of free cash flow. The diluted share count fell 4.3%.

KULICKE AND SOFFA INDUSTRIES, INC. Latest fiscal year ended October 4, 2025 10-K filed November 20, 2025 · 0000056978-25-000081 Updated November 5, 2026

Revenue

$654M

7.4%

Operating margin

−0.5%

12.6 pts

Net income

$0M

Free cash flow

$96M

547.2%

Return on equity

0.0%

6.5 pts

Market cap

$3.4B

Nov 6 close

P/E

29.5x

On $2.17 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on equity is net income as a share of shareholders' equity. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

About these figures. Kulicke and Soffa's filings also tag a small negative equity figure that includes outside owners, which made the balance sheet look out of balance; its shareholders' equity is used throughout, and assets equal liabilities plus equity.

Charts show fiscal years, from the 10-K filings.

What Kulicke and Soffa Industries does

Kulicke and Soffa, known as K&S, makes the equipment and supplies used to assemble semiconductor chips into finished devices. Its products serve integrated circuits, power chips, LEDs and sensors used in automotive, computing, industrial, memory and communications products. It was incorporated in Pennsylvania in 1956 and has offices in Singapore and Fort Washington, Pennsylvania.

The company sells capital equipment, consumable parts, and services. It also services, repairs and upgrades equipment and sells replacement parts for both its own machines and those of other makers. Its customers are mainly chipmakers that do their own assembly, outside companies that specialize in assembling and testing chips, foundries and other electronics makers.

Its sales, distribution and manufacturing are located mostly outside the United States. It has a manufacturing facility in Israel, which it names as a risk given the conflict in the region.

Its biggest risks, as it describes them

Sharp downturns in the semiconductor industry and unpredictable customer spending.
Reliance on suppliers, including some that are the only source of a part.
Its sales and factories are mostly outside the United States, including in Israel, so conflict and trade tensions could disrupt it.
Selling prices of its products usually fall over time.
Competition, and needing to bring new products to market in time.

From Kulicke and Soffa Industries's annual report on Form 10-K, filed November 20, 2025, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2016 to 2023, earnings per share grew 5.5% a year and net income 2.4% a year, as buybacks cut the share count by 19%. Kulicke and Soffa Industries then lost money in fiscal 2024.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	740	776	759	577	511
Debt incl. finance leases	—	—	—	—	—
Net debt (negative means net cash)	—	—	—	—	—
Net debt to EBITDA	—	—	—	—	—
Debt to equity	—	—	—	—	—
Interest coverage	1,892.0x	2,260.0x	277.7x	−1,039.3x	−24.1x
Current ratio	3.8x	5.4x	6.5x	5.4x	4.8x
Quick ratio	3.4x	4.6x	5.3x	4.5x	3.9x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Kulicke and Soffa Industries' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Kulicke and Soffa Industries' projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, no insider bought Kulicke and Soffa Industries shares on the open market, and 7 insiders sold $18.4 million, $4.1 million of it under trading plans set up in advance.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Jun 18, 2026	Lester A WongInterim CEO and CFO	Sold	60,000	$121.71	$7.3 million	Form 4
Jun 12, 2026	Nelson Munpun WongSenior Vice President	Sold	15,000	$113.72	$1.7 million	Form 4
Jun 11, 2026	Peter T M KongDirector	Sold	1,551	$110.00	$170,610	Form 4
May 20, 2026	Mui Sung YeoDirector	Sold	20,000	$100.00	$2.0 million	Form 4
May 11, 2026	Zi Yao LimGeneral Counsel	Sold	1,500	$102.98	$154,470	Form 4
Feb 25, 2026	David Jeffrey RichardsonDirector	Sold	9,364	$72.20	$676,081	Form 4
Feb 13, 2026	Mui Sung YeoDirector	Sold	19,143	$71.98	$1.4 million	Form 4
Feb 10, 2026	Robert Nestor ChylakSenior Vice President	Sold	7,098	$73.28	$520,141	Form 4
Feb 9, 2026	Zi Yao LimGeneral Counsel	Sold	1,000	$71.54	$71,540	Form 4
Feb 5, 2026	Nelson Munpun WongSenior Vice President	Sold plan	39,800	$60.98	$2.4 million	Form 4
Jan 22, 2026	Nelson Munpun WongSenior Vice President	Sold plan	200	$60.00	$12,000	Form 4
Jan 12, 2026	Nelson Munpun WongSenior Vice President	Sold plan	30,000	$56.53	$1.7 million	Form 4

The latest 12 of 14 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY23	FY24	FY25
Piotroski F-score	—	—	—
Rule of 40	−33.2%	−2.8%	7.3%
Altman Z''	11.32	10.40	10.81
Accruals ratio	−7.5%	−7.3%	−9.7%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY23	FY24	FY25
Net income is positive	Pass	Fail	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Fail	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	—	—	—
Current ratio rose	Pass	Fail	Fail
Share count didn't rise	Pass	Pass	Pass
Gross margin rose	Fail	Fail	Pass
Revenue rose relative to assets	Fail	Pass	Pass
F-score	—	—	—

Companies that report no gross profit are scored on the other eight.

Compare

Put Kulicke and Soffa Industries side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Kulicke and Soffa Industries	FY25	−7.4%	−0.5%	14.7%	—	—	—
Veeco Instruments	FY25	−7.4%	5.4%	8.0%	4.5%	−3.0x	6	Compare
FormFactor	FY25	2.8%	7.3%	1.5%	6.8%	−2.7x	5	Compare
Axcelis Technologies	FY25	−17.6%	14.2%	12.8%	—	—	—	Compare
Photronics	FY25	−2.0%	24.5%	7.0%	19.1%	−2.1x	6	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	627	809	889	540	623	1,518	1,504	742	706	654
Revenue growth	16.9%	29.0%	9.9%	−39.3%	15.4%	143.5%	−0.9%	−50.6%	−4.9%	−7.4%
Gross profit	281	382	409	255	298	697	748	359	269	278
Research and development	92	100	120	116	124	138	137	145	151	150
Operating income	54	113	167	22	58	412	470	39	−92	−3
Net income	48	126	57	12	52	367	434	57	−69	0
Diluted EPS (US$)	0.68	1.75	0.80	0.18	0.83	5.78	7.09	0.99	−1.24	0.00
Diluted shares (millions)	71	72	70	66	63	64	61	58	56	53
Cash flow
Cash from operations	68	136	124	66	94	300	390	173	31	114
Capital expenditure	6	26	20	12	12	23	23	44	16	17
Free cash flow	62	111	103	54	83	277	367	129	15	96
Dividends paid	0	0	8	32	30	34	39	42	44	54
Share buybacks	15	18	90	100	54	10	281	69	151	97
Acquisitions	0	27	0	0	0	26	0	37	0	0
Stock-based compensation	6	12	12	14	15	16	19	23	27	28
Balance sheet at fiscal year end
Cash and short-term investments	548	608	614	593	530	740	776	759	577	511
Debt incl. finance leases	—	—	—	—	—	—	—	—	—	—
Total assets	982	1,171	1,186	1,080	1,055	1,602	1,589	1,500	1,240	1,104
Total liabilities	183	251	306	311	297	506	394	325	296	283
Shareholders' equity	800	920	880	769	758	1,095	1,195	1,175	944	822
Margins and ratios
Gross margin	44.8%	47.2%	46.0%	47.1%	47.8%	45.9%	49.8%	48.3%	38.0%	42.5%
Operating margin	8.6%	14.0%	18.7%	4.0%	9.4%	27.2%	31.3%	5.3%	−13.1%	−0.5%
Net margin	7.7%	15.6%	6.4%	2.2%	8.4%	24.2%	28.8%	7.7%	−9.8%	0.0%
Free cash flow margin	9.9%	13.7%	11.6%	10.0%	13.3%	18.3%	24.4%	17.4%	2.1%	14.7%
Rule of 40 (growth + FCF margin)	26.8%	42.7%	21.5%	−29.2%	28.7%	161.8%	23.5%	−33.2%	−2.8%	7.3%
Return on capital	—	—	—	—	—	—	—	—	—	—
Return on equity	6.2%	14.7%	6.3%	1.4%	6.8%	39.6%	37.9%	4.8%	−6.5%	0.0%
Return on assets	5.1%	11.7%	4.8%	1.0%	4.9%	27.6%	27.2%	3.7%	−5.0%	0.0%
Net debt to EBITDA	—	—	—	—	—	—	—	—	—	—

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Kulicke and Soffa Industries' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Kulicke and Soffa Industries.