(SKYT) Skywater Technology - NASDAQ
Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 1.801m USD | Total Return: 311.8% in 12m
Avg Turnover: 31.9M
Qual. Beats: 0
Rev. Trend: 82.8%
Qual. Beats: 3
Warnings
Earnings expected to drop: P/E 15.6 → Forward 185.2
Altman Z'' -0.10 < 1.0 - financial distress zone
Tailwinds
Rs Leader
SkyWater Technology, Inc. is a U.S.-based semiconductor manufacturer specializing in foundry and advanced technology services (ATS). The company operates facilities in Minnesota and Texas, focusing on specialty technologies including analog, mixed-signal, MEMS, and radiation-hardened microelectronics. Its business model centers on Technology as a Service, allowing customers to co-develop intellectual property during the prototyping phase before transitioning to volume production.
The firm serves high-growth and mission-critical sectors such as aerospace and defense, quantum computing, and bio-health. Unlike high-volume digital logic foundries, specialty foundries like SkyWater often fulfill small-to-medium batch requirements for customized integrated circuits. For further insights into the companys valuation and market position, consider reviewing the detailed data on ValueRay.
SkyWater’s strategic position is reinforced by its status as a Domestic Trusted Foundry, which is a critical designation for securing U.S. government and defense contracts. This infrastructure supports the domestic semiconductor supply chain by providing onshore manufacturing and advanced packaging capabilities.
- U.S. government funding and CHIPS Act grants accelerate advanced technology development
- Aerospace and defense contract growth stabilizes long-term revenue streams
- Transition to volume production in Florida facility expands manufacturing margins
- High capital expenditure requirements for specialty CMOS capacity impact near-term cash flow
- Customer concentration in quantum computing and bio-health creates high revenue volatility
| Net Income: 114.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.10 > 0.02 and ΔFCF/TA -27.37 > 1.0 |
| NWC/Revenue: -31.77% < 20% (prev 7.11%; Δ -38.88% < -1%) |
| CFO/TA -0.07 > 3% & CFO -52.2m > Net Income 114.0m |
| Net Debt (244.9m) to EBITDA (140.1m): 1.75 < 3 |
| Current Ratio: 0.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (48.8m) vs 12m ago 2.06% < -2% |
| Gross Margin: 19.62% > 18% (prev 21.89%; Δ -2.27% > 0.5%) |
| Asset Turnover: 102.2% > 50% (prev 99.13%; Δ 3.08% > 0%) |
| Interest Coverage Ratio: 5.29 > 6 (EBIT TTM 95.6m / Interest Expense TTM 18.1m) |
| A: -0.23 (Total Current Assets 182.1m - Total Current Liabilities 354.1m) / Total Assets 732.9m |
| B: -0.04 (Retained Earnings -27.4m / Total Assets 732.9m) |
| C: 0.18 (EBIT TTM 95.6m / Avg Total Assets 529.8m) |
| D: 0.33 (Book Value of Equity 180.2m / Total Liabilities 545.0m) |
| Altman-Z'' = -0.10 = B |
| DSRI: 0.84 (Receivables 89.2m/63.7m, Revenue 541.5m/323.9m) |
| GMI: 1.12 (GM 21.89% / 19.62%) |
| AQI: 1.34 (AQ_t 0.06 / AQ_t-1 0.04) |
| SGI: 1.67 (Revenue 541.5m / 323.9m) |
| TATA: 0.23 (NI 114.0m - CFO -52.2m) / TA 732.9m) |
| Beneish M = -2.35 (Cap -4..+1) = BBB |
As of June 20, 2026, the stock is trading at USD 36.57 with a total of 2,095,570 shares traded.
Over the past week, the price has changed by +2.15%,
over one month by +6.65%,
over three months by +33.66% and
over the past year by +311.82%.
Skywater Technology has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy SKYT.
- StrongBuy: 2
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 35 | -4.3% |
P/E Trailing = 15.6453
P/E Forward = 185.1852
P/S = 3.3265
P/B = 9.9953
Revenue TTM = 541.5m USD
EBIT TTM = 95.6m USD
EBITDA TTM = 140.1m USD
Long Term Debt = 32.3m USD (from longTermDebt, last quarter)
Short Term Debt = 179.5m USD (from shortTermDebt, last quarter)
Debt = 267.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 28.8m
Net Debt = 244.9m USD (calculated: Debt 267.1m - CCE 22.2m)
Enterprise Value = 2.05b USD (1.80b + Debt 267.1m - CCE 22.2m)
Interest Coverage Ratio = 5.29 (Ebit TTM 95.6m / Interest Expense TTM 18.1m)
EV/FCF = -27.09x (Enterprise Value 2.05b / FCF TTM -75.5m)
FCF Yield = -3.69% (FCF TTM -75.5m / Enterprise Value 2.05b)
FCF Margin = -13.95% (FCF TTM -75.5m / Revenue TTM 541.5m)
Net Margin = 21.04% (Net Income TTM 114.0m / Revenue TTM 541.5m)
Gross Margin = 19.62% ((Revenue TTM 541.5m - Cost of Revenue TTM 435.3m) / Revenue TTM)
Gross Margin QoQ = 20.01% (prev 15.76%)
Tobins Q-Ratio = 2.79 (Enterprise Value 2.05b / Total Assets 732.9m)
Interest Expense / Debt = 6.76% (Interest Expense 18.1m / Debt 267.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 75.5m (EBIT 95.6m * (1 - 21.00%))
Current Ratio = 0.51 (Total Current Assets 182.1m / Total Current Liabilities 354.1m)
Debt / Equity = 1.48 (Debt 267.1m / totalStockholderEquity, last quarter 180.2m)
Debt / EBITDA = 1.75 (Net Debt 244.9m / EBITDA 140.1m)
Debt / FCF = -3.24 (negative FCF - burning cash) (Net Debt 244.9m / FCF TTM -75.5m)
Total Stockholder Equity = 151.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 21.51% (Net Income 114.0m / Total Assets 732.9m)
RoE = 75.21% (Net Income TTM 114.0m / Total Stockholder Equity 151.5m)
RoCE = 52.00% (EBIT 95.6m / Capital Employed (Equity 151.5m + L.T.Debt 32.3m))
RoIC = 14.09% (NOPAT 75.5m / Invested Capital 536.0m)
WACC = 14.56% (E(1.80b)/V(2.07b) * Re(15.93%) + D(267.1m)/V(2.07b) * Rd(6.76%) * (1-Tc(0.21)))
Discount Rate = 15.93% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 84.47 | Cagr: 2.85%
[DCF] Fair Price = unknown (Cash Flow -75.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.66 | # QB: 0
Revenue Correlation: 82.77 | Revenue CAGR: 21.37% | SUE: 2.30 | # QB: 3
EPS current Quarter (2026-06-30): EPS=-0.10 | Chg30d=+0.00% | Revisions=N/A | Analysts=4
EPS next Quarter (2026-09-30): EPS=-0.07 | Chg30d=+0.00% | Revisions=-20% | Analysts=4
EPS current Year (2026-12-31): EPS=-0.33 | Chg30d=+0.00% | Revisions=+20% | GrowthEPS=-3425.0% | GrowthRev=+37.5%
EPS next Year (2027-12-31): EPS=-0.20 | Chg30d=+0.00% | Revisions=+20% | GrowthEPS=+38.9% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: -20%