Skyworks Solutions (SWKS)
Forward P/E is 15.59x against a peer median of 19.42x, a ratio of 0.80x, which on the headline test looks undervalued — but that cheapness exists only in the forecast. The trailing P/E is 44.65x, nearly three times the forward figure, so the low forward multiple depends on a large earnings recovery that has not yet been delivered, and latest-quarter revenue fell -3.1% year over year (PRIMARY/EDGAR) while the semiconductor cluster median rose +36.5%. The PEG ratio of 1.56 also gives no growth-adjusted bargain. Because the evidence in the brief does not clear the forecast risk, the label is capped at FAIRLY PRICED rather than UNDERVALUED. Delivered demand check: the cluster's median revenue growth was +36.5% year over year — demand rising in the cluster, which Skyworks is not currently matching.
What would change this label: Move to UNDERVALUED if revenue growth returns above +10% year over year and the trailing P/E falls toward the forward multiple (below about 25x), showing the forecast earnings recovery has actually been delivered, while the forward P/E stays at or below 15.59x. Move to OVERVALUED if the forward P/E rises above about 22.3x (1.15x the current peer median of 19.42x) while revenue is still shrinking year over year, or if forecast earnings are cut enough to push the forward P/E above about 19.4x at an unchanged price.
Skyworks makes the radio chips that let phones connect to networks. Its shares look cheap if you use next year's expected profits — about 16 times — but they cost about 45 times the profits it actually made over the past year, and sales fell about 3%. In other words, the cheap price depends on a recovery that has not happened yet, so the shares look fairly priced rather than a clear bargain.
Both lines start at 100 on 2020-09-01. Over the full window Skyworks Solutions returned -41.64% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Skyworks Solutions: -75.4% (2021-04-26 to 2025-04-08). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 15.59x against a peer median of 19.42x, a ratio of 0.80x, which on the headline test looks undervalued — but that cheapness exists only in the forecast. The trailing P/E is 44.65x, nearly three times the forward figure, so the low forward multiple depends on a large earnings recovery that has not yet been delivered, and latest-quarter revenue fell -3.1% year over year (PRIMARY/EDGAR) while the semiconductor cluster median rose +36.5%. The PEG ratio of 1.56 also gives no growth-adjusted bargain. Because the evidence in the brief does not clear the forecast risk, the label is capped at FAIRLY PRICED rather than UNDERVALUED. Delivered demand check: the cluster's median revenue growth was +36.5% year over year — demand rising in the cluster, which Skyworks is not currently matching. The company’s forward P/E is 15.6× against a peer median of 19.4×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Semiconductors group's median latest-quarter revenue growth was +36.5% year over year (SEC filings) — demand rising. Latest-quarter sales growth was -3.1% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Skyworks Solutions (SWKS) | $86.38 | 15.6× | 44.6× |
| FSLR | $171.62 | 8.1× | 10.6× |
| ON | $75.70 | 19.4× | 48.5× |
| MCHP | $78.48 | 20.1× | 115.7× |
| MPWR | $1,211.89 | 37.5× | 73.9× |
| NXPI | $253.50 | 14.4× | 19.9× |
| Peer median | 19.4× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jul 2026 2026-07-03 | $935M | 40.1% | $34M | 0.22 | $-17M |
| Q/E Apr 2026 2026-04-03 | $944M | 40.8% | $36M | 0.24 | $-32M |
| Q/E Jan 2026 2026-01-02 | $1.0B | 41.3% | $79M | 0.53 | $339M |
| Q/E Oct 2025 2025-10-03 | $1.1B | 40.7% | $141M | — | $144M |
| Q/E Jun 2025 2025-06-27 | $965M | 41.5% | $105M | 0.70 | $253M |
| Q/E Mar 2025 2025-03-28 | $953M | 41.1% | $69M | 0.43 | $371M |
| Q/E Dec 2024 2024-12-27 | $1.1B | 41.4% | $162M | 1.00 | $338M |
| Q/E Sep 2024 2024-09-27 | $1.0B | 41.9% | $60M | — | $393M |
| Q/E Jun 2024 2024-06-28 | $906M | 40.2% | $121M | 0.75 | $249M |
| Q/E Mar 2024 2024-03-29 | $1.0B | 40.2% | $183M | 1.14 | $273M |
| Q/E Dec 2023 2023-12-29 | $1.2B | 42.2% | $231M | 1.44 | $753M |
| Q/E Sep 2023 2023-09-29 | $1.2B | 39.2% | $245M | — | $295M |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | SKYWORKS SOLUTIONS, INC. |
| Chief executive | Philip Brace (source: https://www.skyworksinc.com:443/zh-cn/investors/board-of-directors/) |
| Sector | Technology — Semiconductors — sells radio-frequency and analogue semiconductors used in mobile phones and other wireless devices |
| Share price (Oct 28, 2026) | $86.38 |
| Market value (market cap) | $12.9B — share price times shares outstanding of 150,472,782 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $4.0B |
| Net income, last twelve months | $290M |
| Free cash flow, last twelve months | $434M |
| Latest reported quarter | Q/E Jul 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | -41.64% vs +118.28% |
| Worst peak-to-trough fall | -75.4% (2021-04-26 to 2025-04-08) |
What we could not verify
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- The brief gives no breakdown of why trailing earnings are so far below the level implied by the forward P/E (trailing 44.65x versus forward 15.59x); whether the gap is one-off charges or a cyclical trough is UNVERIFIED in this batch run, and the label is capped until that is resolved.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000004127.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000004127.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/SWKS/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.