SKYT
SkyWater Technology Inc

SkyWater Technology IncSKYT

Technology · Semiconductors
32.46USD
+0.00%
Nov 08, 2026
SKYT overview ready
U.S.-based specialty semiconductor foundry for defense and advanced applications
SkyWater is a U.S.-based specialty semiconductor foundry and advanced-technology-services provider.
Theme not measured
No economic group is assigned yet.
Price Action not measured
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Dependence on government and defense contracts.
Market Aug 7Filing Jun 28Price action Nov 7Research Jul 17

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction—BusinessPerformance7.0BusinessQuality3.2Valuation3.5ThemeMomentum—Improving — Revenue growth has accelerated across 4 consecutive quarters, rising from +61% to +165% year over year. The company is still loss-making: the diluted loss per share narrowed to -$0.13 from -$0.21 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
No economic group yet — pending research
Price
Loading price history…

Price Action

Not enough price history for a trend read.

Key Financials

Market Cap
$1.6B
Avg Volume (60D)
597.4K
60 sessions
Revenue Growth YoY
+29.2%
FY2025 vs FY2024
Gross Margin
+20.2%
Trailing twelve months
Operating Margin
+0.7%
Trailing twelve months
Free Cash Flow Yield
-5.9%
P/E
13.6x
EV / EBITDA
27.4x
EV / Sales
2.6x
Market metrics as of Aug 7, 2026
Financial results for the period ended Jun 28, 2026
Filed balance-sheet data as of Jun 28, 2026

Business Performance

Improving

Revenue growth has accelerated across 4 consecutive quarters, rising from +61% to +165% year over year. The company is still loss-making: the diluted loss per share narrowed to -$0.13 from -$0.21 a year earlier.

Latest reported: Q2 FY2026, ended Jun 28
Revenue growthAccelerating
+165%
$156M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +61%
  2. +127%
  3. +162%
  4. +165%
Earnings growthLoss narrowing
-$0.13
Diluted EPS -$0.13 vs -$0.21 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
1.2%
+12.2 pp YoY · gross margin 22.5% (+4.1 pp)
Profit is not fully converting to cash

Business Quality

3.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is cheap. The published stance is held at fair because cyclical earnings may be at a cycle peak, inflating the earnings the multiple is measured against.
SkyWater Technology Inc has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
SkyWater is a U.S.-based specialty semiconductor foundry and advanced-technology-services provider.
Opportunity
Moderate opportunity
Policy support, defense-security requirements, and customer supply-chain diversification are driving investment in U.S.-based specialty semiconductor fabrication capacity for analog, mixed-signal, MEMS, radiation-tolerant, and other non-leading-edge devices.
Key risk
Dependence on government and defense contracts.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

SkyWater Technology operates as a U.S.-based specialty semiconductor foundry providing wafer manufacturing, advanced technology services, and packaging primarily for analog, mixed-signal, MEMS, and specialty CMOS devices.

How it earns

The company generates revenue primarily through project-based foundry and manufacturing service contracts with customers.

Products & services
Foundry services
Advanced technology services (ATS)
Wafer manufacturing for analog, mixed-signal, MEMS, specialty CMOS devices
Advanced semiconductor packaging
Customers & end markets
Quantum computing
Aerospace and defense
Automotive
Bio-health
Industrial
Market position

Niche specialty semiconductor foundry focused on domestic and trusted manufacturing for non-leading-edge devices.

Demand drivers
Medium cyclicality

Demand is influenced by semiconductor industry cycles and government defense spending but supported by structural supply chain localization trends.