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STM

STMicroelectronics N.V.

STM

STMicroelectronics N.V. • NYSE
$22.99 ▲ 1.50% (+0.34)
Market Cap $20.51 B
52w High $33.47
52w Low $17.25
Dividend Yield 0.36%
P/E 39.64
Volume 2.31M
Outstanding Shares 892.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.173B ▲ $893.14M ▲ $235.98M ▲ 7.436% ▲ $0.26 ▲ $771.665M ▲
Q2-2025 $2.766B ▲ $670M ▼ $-10M ▼ -0.362% ▼ $-0.11 ▼ $621M ▲
Q1-2025 $2.517B ▼ $838M ▼ $56M ▼ 2.225% ▼ $0.06 ▼ $390M ▼
Q4-2024 $3.322B ▲ $884M ▲ $341M ▼ 10.265% ▼ $0.38 ▼ $889M ▲
Q3-2024 $3.251B $847M $351M 10.797% $0.39 $744M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.8B ▼ $24.808B ▼ $6.618B ▼ $17.952B ▼
Q2-2025 $5.629B ▼ $26.544B ▲ $7.571B ▲ $18.737B ▲
Q1-2025 $5.959B ▼ $24.923B ▲ $6.964B ▼ $17.726B ▲
Q4-2024 $6.184B ▼ $24.743B ▼ $7.064B ▼ $17.449B ▼
Q3-2024 $6.296B $25.516B $7.712B $17.564B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $235.98M ▲ $547.873M ▲ $823.215M ▲ $-982.659M ▼ $390.089M ▲ $182.388M ▲
Q2-2025 $-98.275M ▼ $361.947M ▼ $-341.66M ▲ $-195.051M ▲ $-158.717M ▲ $-177.199M ▼
Q1-2025 $0 ▼ $574M ▼ $-796M ▲ $-282M ▼ $-501M ▲ $36M ▼
Q4-2024 $336M ▲ $681M ▲ $-1.259B ▼ $-209M ▼ $-795M ▼ $65M ▲
Q3-2024 $100M $504M $-414M $-110M $-15M $2M

Five-Year Company Overview

Income Statement

Income Statement STM’s profits have come off their recent peak. Revenue surged strongly through 2022 and 2023 but then stepped down in 2024, and earnings fell faster than sales. This points to margin pressure: costs, pricing, or product mix are less favorable than in the boom years. Even so, the company is still far more profitable than it was a few years ago, showing that the underlying business has structurally improved. The current picture looks like a normalization from an unusually strong cycle, rather than a collapse of the business model. The main watchpoints are how quickly demand recovers and whether STM can rebuild its margins as the cycle turns.

Balance Sheet

Balance Sheet The balance sheet looks solid and has strengthened over time. Total assets and shareholder equity have grown steadily, which suggests consistent reinvestment into the business and accumulation of retained earnings. Debt has risen only modestly and remains moderate compared with the company’s size and equity base. Cash balances are healthy, though a bit lower than in prior years as spending has ramped up. Overall, STM appears to have a cushion to navigate industry cycles and to fund its strategic projects without stretching its finances excessively, but continued high investment will need careful balance against maintaining that strength.

Cash Flow

Cash Flow STM consistently generates strong cash flow from its operations, confirming that the core business is cash-rich. However, the company has been spending very heavily on new plants, equipment, and technology, especially over the last few years. Those large investments have recently pushed free cash flow close to or below break-even, meaning less spare cash after funding growth. This is typical for a semiconductor company in a build-out phase, but it does increase execution risk: the payoff depends on filling this new capacity with profitable demand in areas like automotive, power, and industrial chips.

Competitive Edge

Competitive Edge STM holds a strong, differentiated position in several attractive niches rather than trying to dominate every part of the chip market. It is a major player in automotive and industrial semiconductors, power electronics, microcontrollers, and sensors—areas tied to long-term trends like electric vehicles, energy efficiency, factory automation, and the Internet of Things. Its integrated manufacturing model, especially in Silicon Carbide, and its long relationships with large customers create switching costs and some resilience against pure price competition. Competition from large global peers is still intense, and end markets are cyclical, but STM’s focus on structural growth themes and its deep customer integration give it a defensible place in the value chain.

Innovation and R&D

Innovation and R&D Innovation is a clear centerpiece of STM’s strategy. The company is an early and aggressive investor in wide‑bandgap materials like Silicon Carbide and Gallium Nitride, which are critical for electric vehicles, charging infrastructure, and renewable energy. Its vertical integration in these technologies—from wafers to finished devices—is a major technical and cost advantage that is hard to replicate quickly. Beyond power electronics, STM’s STM32 microcontroller ecosystem, MEMS sensors, and growing edge‑AI capabilities (including MCUs with dedicated neural processing) show a broad and modern R&D agenda. A very large patent portfolio further protects these positions. The key question is not whether STM is innovating—clearly it is—but how efficiently these R&D and capital investments translate into durable, high-margin revenue as markets evolve.

Summary

STM today looks like a structurally stronger but currently de-rating semiconductor company. Its earnings have cooled after a period of exceptional strength, reflecting both normal industry cyclicality and some margin pressure, yet profitability remains well above pre‑pandemic levels. The balance sheet is robust, giving it room to keep investing through the cycle. The company is clearly leaning into the future of power electronics, automotive, industrial automation, and edge AI, supported by heavy capital spending and R&D. This creates meaningful long‑term opportunity but also increases execution risk if demand in these targeted segments is slower or more volatile than expected. Overall, STM stands out as an innovation‑driven, well‑capitalized player with a strong niche in key secular growth areas, navigating a more challenging phase of the semiconductor cycle.

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