What is SkyWater Technology, Inc.'s free cash flow margin?

SkyWater Technology, Inc. (SKYT) reported free cash flow margin of -14% in Q1 2026.

What is the long-term trend for SkyWater Technology, Inc.'s free cash flow margin?

Over 3 years (2021 to 2025), SkyWater Technology, Inc.'s free cash flow margin has grown at a -39.0% compound annual growth rate (CAGR), from -53.1% to -12.1%.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

SkyWater Technology, Inc. SKYT Free cash flow margin

Free cash flow margin at other companies

Amkor TechnologyAMKR

2.4%-1.7pp

Sanmina CorpSANM

6.5%+3.1pp

Benchmark ElectronicsBHE

5.5%—

EnproNPO

14.8%+0.8pp

Teradyne, Inc.TER

14.6%-6.3pp

TTM TechnologiesTTMI

-0.7%—

Other financials

Income statement

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Revenue$160.7M+162%

Gross profit$32.2M+126%

Operating income-$5.3M-31.2%

Net income-$12.3M-67.6%

EPS (diluted)-$0.25-66.7%

Balance sheet

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Cash & equivalents$22.2M-56.6%

Total debt$231.1M+263%

Total equity$180.2M+237%

Total assets$732.9M+124%

Cash flow

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Operating cash flow$27.9M-50.1%

CapEx$9.1M-38.7%

Free cash flow$18.9M-54.2%

Valuation

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Market cap$1.8B+287%

Enterprise value$2.01B+332%

P/E14.8×—

P/S3.3×+1.9×

Profitability

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Gross margin19.4%-2.5pp

Operating margin-0.7%-2.2pp

Net margin22.5%+20.4pp

Returns & leverage

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Return on equity104.2%+91.9pp

Debt / equity1.3×+0.1×

Current ratio0.5×-0.7×

Where this comes from

Calculated from SkyWater Technology, Inc.’s reported figures.

free cash flow/total revenue=-14%

Based on trailing twelve months.

The official record: SkyWater Technology, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SkyWater Technology, Inc.'s free cash flow margin?: SkyWater Technology, Inc. (SKYT) reported free cash flow margin of -14% in Q1 2026.
What is the long-term trend for SkyWater Technology, Inc.'s free cash flow margin?: Over 3 years (2021 to 2025), SkyWater Technology, Inc.'s free cash flow margin has grown at a -39.0% compound annual growth rate (CAGR), from -53.1% to -12.1%.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.