Semtech vs Tower Semiconductor
Tower Semiconductor reported revenue of $1.6 billion in fiscal 2025, 1.5 times Semtech's $1.1 billion in fiscal 2026. Semtech's revenue grew 15.5% in its latest year, and Tower Semiconductor's grew 9.1%. Semtech had an operating margin of 3.1%, against 12.4% at Tower Semiconductor. Free cash flow was $171 million at Semtech and −$49 million at Tower Semiconductor. Their fiscal years end in different months (January 25 and December 31), so the periods don't line up exactly.
Side by side
| Semtech | Tower Semiconductor | |
|---|---|---|
| Latest fiscal year | FY2026, Jan 25, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.1B | $1.6B |
| Revenue growth | 15.5% | 9.1% |
| Revenue growth a year, last 5 years | 12.0% | 4.4% |
| Gross margin | 51.6% | 23.2% |
| Operating margin | 3.1% | 12.4% |
| Net margin | −3.9% | 14.1% |
| Free cash flow | $171M | −$49M |
| Free cash flow margin | 16.3% | −3.1% |
| Return on capital | 2.9% | 9.9% |
| Net debt to EBITDA | 4.7x | −1.9x |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 23.4% | 1.1% |
| Last close | $136.73 | $178.75 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | sold $17.6 million | sold $60.0 million |
| Piotroski F-score | 7 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
SemtechTower Semiconductor
Operating margin
Percent of revenue
SemtechTower Semiconductor
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
SemtechTower Semiconductor
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Semtech and Tower Semiconductor pages.