Silicon Motion Technology Corp. (SIMO) intrinsic value & 10-year financials
Silicon Motion Technology Corp. (SIMO) has a Graham intrinsic value of $9.39 per share. Over the last 10 fiscal years revenue grew 5.3% a year to $885.6M, with an average return on invested capital of 37.3%.
- Graham intrinsic value
- $9.39
- Revenue (FY2025)
- $885.6M
- Revenue growth (10-yr CAGR)
- 5.3%
- ROIC (10-yr avg)
- 37.3%
- Free cash flow (FY2025)
- $6.3M
SIMO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $885.6M | $122.6M | $0.91 | $6.3M | 10.5% | 14.2% |
| FY2024 | $803.6M | $89.2M | $0.66 | $32.7M | 11.3% | 16.0% |
| FY2023 | $639.1M | $52.9M | $0.40 | $98.8M | 6.2% | 7.4% |
| FY2022 | $945.9M | $172.5M | $1.29 | $51.0M | 22.6% | 43.1% |
| FY2021 | $922.1M | $200.0M | $1.43 | $150.0M | 26.7% | 76.6% |
| FY2020 | $539.5M | $79.7M | $0.57 | $97.7M | 14.9% | 34.3% |
| FY2019 | $457.3M | $64.4M | $0.46 | $66.7M | 11.4% | 20.0% |
| FY2018 | $530.3M | $98.1M | $0.68 | $33.4M | 19.8% | 48.9% |
| FY2017 | $523.4M | $75.0M | $0.52 | $92.2M | 18.2% | 47.5% |
| FY2016 | $556.1M | $110.9M | $0.78 | $113.3M | 24.7% | 65.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Silicon Motion Technology CORP has demonstrated mature, steady growth, with revenue compounding at 5.3% annually over the past decade.
Silicon Motion Technology CORP has earned high returns on invested capital, averaging 37.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Silicon Motion Technology CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Silicon Motion Technology CORP is modeled at 1.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.39 per share.