Skyworks Solutions (SWKS) FY2025 results: revenue $4.1 billion, down 2.2% on the year

Skyworks Solutions develops, manufactures and supplies analog and mixed analog-and-digital semiconductors: the radio-frequency and power parts that let a device send, receive, filter and manage wireless signals. Its chips go into aerospace, automotive, broadband, cellular infrastructure, connected home, defence, entertainment and gaming, industrial, medical, smartphone, tablet and wearable products. It operates worldwide, with engineering, manufacturing, sales and service facilities across Asia, Europe and North America, and its distribution network spans approximately 6,900 customers and 4,900 unique products.

What it makes

The portfolio is a catalogue of the individual parts that sit between a device's processor and its antenna. On the path the signals take there are amplifiers, which strengthen them so they have enough energy to reach a base station, and low-noise amplifiers on the receive side; switches, which change between the transmit and receive function; filters, including SAW, TC-SAW and BAW types, for recovering and separating mixed and modulated data; front-end modules, which co-package two or more of those functions together; antenna tuners; diversity receive modules, used to improve receiver sensitivity in high data rate applications; and attenuators, directional couplers, mixers, modulators, demodulators and detectors.

A second group generates signals and keeps time on them: synthesizers, voltage controlled oscillators, phase locked loops, and timing devices such as clock generators, oscillators, jitter attenuators and buffers used in optical networking, data centres, wireless base stations, industrial and automotive applications. A third handles power and isolation: DC to DC converters, voltage regulators, LED drivers, diodes, power over Ethernet, and digital power isolators and isolated gate drivers used in industrial control, solar inverters, hybrid and electric automotive drive trains and charging stations. It also sells whole subsystems, among them System in Package, which the filing describes as a complete system in a package including modem, radio-frequency front end, filtering, matching and timing generation.

Across those parts it supports cellular including 5G, Wi-Fi, GPS, Bluetooth, LoRa, Thread, Wi-Sun and Zigbee, and its portfolio is reinforced by a library of approximately 5,200 worldwide issued patents and other intellectual property it owns and controls.

How it is made

The company describes a hybrid manufacturing model: its own specialised internal manufacturing capability combined with alliances and outside relationships, which it says lets it balance manufacturing capacity against demand. Raw materials are generally available from several sources and it states an intent not to depend on a sole source unless conditions dictate otherwise, but it procures certain components and services from single or limited sources and is currently dependent on a limited number of sole-source suppliers.

How it reaches the buyer

Products are sold globally through a direct sales force, electronic component distributors and independent sales representatives, and the filing notes that those distributors may also carry competing products. The engagement starts long before a purchase order: the company collaborates technically with customers and reference design partners at the inception of new programmes, so the part is chosen while the customer's product is still being designed. Named customers include Amazon, Apple, Bose, Cisco, Ericsson, Garmin, Google, Honeywell, Lenovo, Microsoft, Nokia, Samsung, Sony and Tesla.

A small number of original equipment manufacturers has historically accounted for a large portion of sales. Apple accounted for more than ten percent of sales in each of fiscal 2025, fiscal 2024 and fiscal 2023, through multiple distributors and contract manufacturers for smartphones, tablets, desktop and notebook computers, watches and other devices. The three largest accounts receivable balances made up 82% of gross accounts receivable at the fiscal 2025 year end and 80% a year earlier.

The Qorvo combination

On 27 October 2025 Skyworks entered into a merger agreement with Qorvo, which it describes as a provider of connectivity and power solutions and which it elsewhere lists among its competitors. The filing states the cash-and-stock transaction values the combined company at approximately $22.0 billion as of the market close that day. Each Qorvo share converts into 0.960 of a Skyworks share plus $32.50 in cash, an exchange ratio the company says is expected to leave Qorvo holders with about 37% of the combined company and Skyworks holders about 63%. The filing gives early calendar year 2027 as the anticipated close, subject to a Qorvo shareholder vote, a Skyworks shareholder vote on the share issuance, antitrust and foreign investment clearances, and a Form S-4 registration statement taking effect.

From Skyworks Solutions' annual report on Form 10-K for the year ended 3 October 2025. The filing

Written from the 10-K filed 7 November 2025: read the full 10-K.