Detailed financial statements for Kulicke and Soffa Industries, Inc. (KLIC): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Kulicke and Soffa Industries, Inc. (KLIC) is a leading provider specializing in the development, manufacturing, and sale of essential equipment and tools utilized in the assembly of semiconductor components. The company's operations are divided into two main divisions: Capital Equipment, and Aftermarket Products and Services (APS).
Analysis Summary
Kulicke and Soffa Industries, Inc. reported revenue of $654.1M in the most recent fiscal year, growing at a 5-year CAGR of 1.0%. Net income reached $213000, with a -66.7% 5-year CAGR.
Trailing-twelve-month margins: gross margin 48.2%, operating margin 13.4%, net margin 12.2%. Free cash flow grew at 3.1% CAGR over 5 years.
At the current price of $79.55, KLIC trades at a P/E of 34.04 and an ROE of 13.55%. Market capitalisation stands at $4.2B.
Balance sheet quality for KLIC: current ratio of 4.8, net cash position of $472.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $96.4M represents 45240% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $627.2M | $809.0M | $889.1M | $540.1M | $623.2M | $1.52B | $1.50B | $742.5M | $706.2M | $654.1M |
| Cost of Revenue | $346.2M | $426.9M | $479.7M | $285.5M | $325.2M | $820.7M | $755.3M | $383.8M | $437.5M | $376.2M |
| Gross Profit | $281.0M | $382.1M | $409.4M | $254.6M | $298.0M | $697.0M | $748.3M | $358.7M | $268.8M | $277.9M |
| Research & Development | $92.4M | $100.2M | $119.6M | $116.2M | $123.5M | $137.5M | $136.9M | $144.7M | $151.2M | $149.6M |
| Selling, General & Admin | $134.7M | $133.6M | $123.2M | $116.8M | $116.0M | $147.1M | $140.1M | $153.0M | $165.6M | $167.7M |
| Operating Expenses | $227.1M | $269.0M | $242.8M | $233.0M | $239.5M | $284.5M | $278.2M | $319.2M | $361.2M | $281.1M |
| Operating Income | $54.0M | $113.1M | $166.6M | $21.6M | $58.5M | $412.4M | $470.1M | $39.4M | -$92.5M | -$3.2M |
| EBITDA | $73.5M | $135.8M | $197.6M | $57.0M | $85.8M | $434.6M | $498.5M | $101.2M | -$33.5M | $38.6M |
| Interest Expense | $1.1M | $1.1M | $1.1M | $2.1M | $1.7M | $218000 | $208000 | $142000 | $89000 | $134000 |
| Pre-tax Income | $56.2M | $118.5M | $177.5M | $34.7M | $64.3M | $414.5M | $477.0M | $72.2M | -$58.4M | $20.5M |
| Income Tax | $7.7M | -$7.4M | $120.7M | $22.9M | $12.0M | $47.3M | $43.4M | $15.1M | $10.7M | $20.3M |
| Net Income | $48.5M | $126.1M | $56.7M | $11.7M | $52.3M | $367.2M | $433.5M | $57.1M | -$69.0M | $213000 |
| EPS | $0.67 | $1.58 | $0.82 | $0.18 | $0.83 | $5.92 | $7.21 | $1.01 | $-1.24 | $0.00 |
| EPS (Diluted) | $0.67 | $1.55 | $0.80 | $0.18 | $0.83 | $5.78 | $7.09 | $0.99 | $-1.24 | $0.00 |
| Shares Outstanding (Diluted) | $70.8M | $72.1M | $70.4M | $65.9M | $63.4M | $63.5M | $61.2M | $57.5M | $55.6M | $53.2M |
Income Statement (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Revenue | $177.6M | $199.6M | $242.6M | $330.4M |
| Gross Profit | $81.2M | $98.6M | $120.0M | $157.9M |
| Operating Income | $888000 | $19.4M | $38.8M | $68.3M |
| EBITDA | $10.8M | $26.5M | $46.5M | $76.8M |
| Net Income | $6.4M | $16.8M | $35.1M | $57.4M |
| EPS | $0.12 | $0.32 | $0.67 | $1.10 |
| EPS (Diluted) | $0.12 | $0.32 | $0.66 | $1.07 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $547.9M | $392.4M | $320.6M | $364.2M | $188.1M | $362.8M | $555.5M | $529.4M | $227.1M | $215.7M |
| Short-term Investments | 0 | $216.0M | $293.0M | $229.0M | $342.0M | $377.0M | $220.0M | $230.0M | $350.0M | $295.0M |
| Receivables | $130.5M | $198.5M | $243.4M | $195.8M | $198.6M | $421.2M | $309.3M | $168.8M | $193.9M | $183.5M |
| Inventory | $87.3M | $122.0M | $115.2M | $89.3M | $111.8M | $167.3M | $185.0M | $217.3M | $177.7M | $160.2M |
| Total Current Assets | $780.9M | $953.4M | $987.3M | $893.8M | $860.2M | $1.35B | $1.33B | $1.19B | $995.0M | $901.5M |
| Property, Plant & Equipment | $50.3M | $67.8M | $76.1M | $72.4M | $81.8M | $109.6M | $122.7M | $157.2M | $100.7M | $91.2M |
| Goodwill | $81.3M | $56.3M | $56.5M | $55.7M | $56.7M | $72.9M | $68.1M | $88.7M | $89.7M | $69.5M |
| Intangible Assets | $50.8M | $62.3M | $52.9M | $42.7M | $38.0M | $42.8M | $31.9M | $29.4M | $25.2M | $5.6M |
| Total Assets | $982.4M | $1.17B | $1.19B | $1.08B | $1.05B | $1.60B | $1.59B | $1.50B | $1.24B | $1.10B |
| Accounts Payable | $41.8M | $51.4M | $48.5M | $36.7M | $57.7M | $154.6M | $67.3M | $49.3M | $58.8M | $57.2M |
| Short-term Debt | 0 | 0 | 0 | $60.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $118.6M | $200.4M | $174.1M | $174.6M | $157.9M | $351.9M | $248.7M | $181.6M | $183.8M | $188.2M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $175.9M | $258.2M | $305.5M | $310.6M | $296.6M | $506.4M | $393.9M | $325.2M | $296.2M | $282.9M |
| Retained Earnings | $450.0M | $562.0M | $613.5M | $594.6M | $616.1M | $948.6M | $1.34B | $1.36B | $1.24B | $1.20B |
| Total Equity | $806.5M | $912.9M | $880.2M | $769.1M | $758.0M | $1.10B | $1.19B | $1.17B | $944.0M | $821.5M |
| Total Debt | $16.7M | $16.1M | $15.2M | $75.1M | $24.2M | $43.0M | $41.7M | $48.4M | $41.0M | $38.5M |
| Net Debt | -$531.2M | -$592.3M | -$598.4M | -$518.1M | -$505.9M | -$696.8M | -$733.8M | -$711.0M | -$536.2M | -$472.2M |
| Working Capital | $662.3M | $752.9M | $813.2M | $719.1M | $702.3M | $1.00B | $1.08B | $1.01B | $811.2M | $713.4M |
Balance Sheet (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Cash & Equivalents | $215.7M | $282.1M | $337.9M | $368.6M |
| Total Assets | $1.10B | $1.11B | $1.19B | $1.32B |
| Total Liabilities | $282.9M | $289.6M | $328.4M | $407.1M |
| Total Equity | $821.5M | $825.0M | $857.5M | $912.0M |
| Total Debt | $38.5M | $37.0M | $39.8M | $38.1M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $48.5M | $126.1M | $56.7M | $11.7M | $52.3M | $367.2M | $433.5M | $57.1M | -$69.0M | $213000 |
| Depreciation & Amortization | $16.2M | $16.3M | $19.0M | $20.3M | $19.7M | $19.8M | $21.3M | $28.9M | $24.7M | $18.0M |
| Stock-based Compensation | $5.7M | $11.7M | $11.7M | $14.3M | $15.0M | $15.5M | $19.0M | $22.7M | $26.9M | $28.5M |
| Change in Working Capital | $5.8M | -$51.6M | $10.9M | $11.2M | $7.2M | -$88.3M | -$65.9M | $42.4M | -$79.2M | -$8.6M |
| Operating Cash Flow | $68.4M | $136.3M | $123.5M | $66.0M | $94.4M | $300.0M | $390.2M | $173.4M | $31.0M | $113.6M |
| Capital Expenditure | -$6.2M | -$25.6M | -$20.5M | -$11.7M | -$11.7M | -$22.8M | -$23.0M | -$44.4M | -$16.1M | -$17.2M |
| Acquisitions | 0 | -$28.4M | 0 | -$5.0M | -$1.3M | -$24.2M | -$397000 | -$37.5M | -$2.4M | -$341000 |
| Stock Repurchased | -$14.6M | -$18.2M | -$90.3M | -$99.9M | -$54.5M | -$10.4M | -$281.3M | -$69.2M | -$150.8M | -$97.1M |
| Dividends Paid | 0 | 0 | -$8.2M | -$31.6M | -$30.2M | -$33.5M | -$39.4M | -$42.0M | -$44.2M | -$54.1M |
| Free Cash Flow | $62.2M | $110.7M | $103.0M | $54.2M | $82.7M | $277.3M | $367.2M | $129.0M | $14.9M | $96.4M |
Cash Flow (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|---|---|---|---|
| Operating Cash Flow | $7.4M | -$8.9M | $10.3M | $45.2M |
| Capital Expenditure | -$3.0M | -$2.7M | -$4.1M | -$4.3M |
| Free Cash Flow | $4.4M | -$11.6M | $6.2M | $40.9M |
| Dividends Paid | -$21.4M | -$10.7M | 0 | -$10.7M |
| Stock-based Compensation | $7.8M | $5.3M | $7.0M | $7.0M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +29.0% | +9.9% | -39.3% | +15.4% | +143.5% | -0.9% | -50.6% | -4.9% | -7.4% | |
| Net Income Growth (YoY) | +160.2% | -55.1% | -79.4% | +348.8% | +602.0% | +18.1% | -86.8% | -220.7% | +100.3% | |
| EPS Growth (YoY) | +135.8% | -48.1% | -78.0% | +361.1% | +613.3% | +21.8% | -86.0% | -222.8% | +100.3% | |
| Shares Change (YoY) | +1.7% | -2.3% | -6.3% | -3.9% | +0.2% | -3.7% | -5.9% | -3.4% | -4.4% | |
| FCF Growth (YoY) | +78.0% | -7.0% | -47.4% | +52.5% | +235.3% | +32.4% | -64.9% | -88.5% | +547.2% | |
| Gross Margin | 44.8% | 47.2% | 46.1% | 47.1% | 47.8% | 45.9% | 49.8% | 48.3% | 38.1% | 42.5% |
| Operating Margin | 8.6% | 14.0% | 18.7% | 4.0% | 9.4% | 27.2% | 31.3% | 5.3% | -13.1% | -0.5% |
| EBITDA Margin | 11.7% | 16.8% | 22.2% | 10.6% | 13.8% | 28.6% | 33.2% | 13.6% | -4.7% | 5.9% |
| Net Margin | 7.7% | 15.6% | 6.4% | 2.2% | 8.4% | 24.2% | 28.8% | 7.7% | -9.8% | 0.0% |
| FCF Margin | 9.9% | 13.7% | 11.6% | 10.0% | 13.3% | 18.3% | 24.4% | 17.4% | 2.1% | 14.7% |
| Effective Tax Rate | 13.7% | -6.2% | 68.0% | 66.0% | 18.6% | 11.4% | 9.1% | 20.8% | -18.3% | 99.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $0.88 | $1.54 | $1.46 | $0.82 | $1.31 | $4.37 | $6.00 | $2.24 | $0.27 | $1.81 |
| Dividends Per Share | $0.00 | $0.00 | $0.12 | $0.48 | $0.48 | $0.53 | $0.64 | $0.73 | $0.79 | $1.02 |
| Shares Outstanding (Basic) | $70.5M | $70.9M | $69.4M | $65.3M | $62.8M | $62.0M | $60.2M | $56.7M | $55.6M | $53.0M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | 13.55% |
| Return on Invested Capital | 10.15% |
| Return on Assets | 8.77% |
| Gross Margin | 48.18% |
| Operating Margin | 13.40% |
| Net Margin | 12.18% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 3.44 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 7.41 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 19.30 | 13.65 | 29.41 | 130.44 | 26.37 | 9.91 | 5.34 | 48.15 | -36.10 | 10085.00 |
| P/B | 1.13 | 1.68 | 1.90 | 1.99 | 1.81 | 3.32 | 1.94 | 2.35 | 2.64 | 2.60 |
| P/S | 1.45 | 1.89 | 1.88 | 2.84 | 2.21 | 2.40 | 1.54 | 3.71 | 3.53 | 3.27 |
| Gross Margin | 44.8% | 47.2% | 46.1% | 47.1% | 47.8% | 45.9% | 49.8% | 48.3% | 38.1% | 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% |
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