Skywater Technology Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Skywater Technology Inc (SKYT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Skywater Technology Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 639M vs 193,590M combined for tracked competitors (0.3% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-2.1% annualized vs trailing 12 months), vs accelerating (+7.7%) for its tracked peer group.
- Growth: Skywater Technology Inc generated 164.8% revenue growth year over year in Q2 2026, vs 16.0% for its tracked competitors combined.
- Profitability: Its -3.3% net margin compares with 22.7% for the peer group.
- Peer revenue share: Skywater Technology Inc accounted for 0.3% of combined revenue among its tracked peer group, up from 0.1% a year earlier.
- Peer differentiation: Revenue per employee of $0.41M compares with $1.00M for the peer group (0.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SKYT Sales vs. its Competitors, Q2 2026
Skywater Technology Inc reported revenue growth of 164.76 % year on year in Q2 2026, above its competitors' combined revenue growth of 15.99 %.
With a net margin of -3.30 %, Skywater Technology Inc reported lower profitability than its competitors (22.67 %).
Skywater Technology Inc generated 0.30 % of the combined sales of its peer group, up from 0.13 % a year earlier.
Skywater Technology Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Skywater Technology Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Skywater Technology Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Skywater Technology Inc's competitor groups requires a Commercial License.
For context: the Semiconductors industry grew revenue 10.5% year over year, combined, vs 164.8% for Skywater Technology Inc. Skywater Technology Inc's share of combined industry revenue moved from 0.01% to 0.03%, a gain of 0.02 percentage points.
Skywater Technology Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Skywater Technology Inc | Yes | Yes | Yes | Yes |
| Competitors combined (42) | ||||
| High-Confidence Competitors (5) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 5) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SKYT Stock Performance relative to its Competitors
SKYT Stock Performance relative to High-Confidence Competitors
SKYT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Ase Technology Holding Co Ltd | 282.9% | Outperformed |
| 2 | Formfactor inc | 282.9% | Outperformed |
| 3 | Cohu Inc | 282.9% | Outperformed |
| 4 | Viavi Solutions Inc | 282.9% | Outperformed |
| 5 | Tower Semiconductor Ltd | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Skywater Technology Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Skywater Technology Inc's Comment on Competition and Industry Peers
In the aerospace and design foundry market, our competition includes fabs which partner exclusively with major U.S. defense contractors. While these fabs will continue to serve the critical, but often boutique, needs of the USG, we expect the USG and defense community to gradually shift to more economical routes to serve their mission. Other competition in this market includes U.S.-based commercial IDMs and foundries, such as ON Semiconductor Corporation, Tower Semiconductor Manufacturing Company and Global Foundries Inc. Other competitors for technology services include prototype fabs/labs such as MIT Lincoln Labs.
Publicly Traded Peers of Skywater Technology Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Skywater Technology Inc | 1,598.33 | 638.84 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,325,378.42 | 121,423.20 |
| Asml Holding Nv | 702,551.74 | 36,586.96 |
| Lam Research Corporation | 411,043.59 | 23,232.69 |
| Applied Materials Inc | 406,680.00 | 30,837.00 |
| Kla Corporation | 258,509.51 | 13,579.48 |
| SUBTOTAL | 5,114,175.30 | 625,345.39 |
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Sources: Skywater Technology Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Skywater Technology Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Skywater Technology Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Tower Semiconductor Ltd. | Named by the company | 85% |
| United Microelectronics Corporation | Named by the company | 85% |
| Taiwan Semiconductor Manufacturing Company Limited | Named by the company | 85% |
| ON Semiconductor Corporation | Named by the company | 85% |
| Global Foundries Inc. | Named by the company | 85% |
| Silex Microsystems | Named by the company | 85% |
| XFAB Silicon Foundries SE | Named by the company | 85% |
| Intel Corporation | Named by the company | 85% |
| Vanguard International Semiconductor Corporation | Named by the company | 85% |
| Globalfoundries Inc | Named by the company | 85% |
| Quantum Computing Inc | Named by the company | 85% |
| Ats Corp | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Skywater Technology Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Skywater Technology Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Skywater Technology Inc | SkyWater Texas 55.90 % |
| Lam Research Corporation | Reportable 100.00 % |
| Applied Materials Inc | Semiconductor Systems 75.41 % |
| Kla Corporation | Semiconductor Process Control 90.30 % |
| Thermo Fisher Scientific Inc | Clinical Research 19.98 % |
| Danaher Corporation | Diagnostics 39.36 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Skywater Technology Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Skywater Technology Inc | 1,598 | 411,891 | 78,794 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,325,378 | 1,713,299 | 762,463 |
| Asml Holding Nv | 702,552 | 827,591 | 243,447 |
| Lam Research Corporation | 411,044 | 997,111 | 311,820 |
| Applied Materials Inc | 406,680 | 844,849 | 253,890 |
| Kla Corporation | 258,510 | 798,793 | 284,163 |
| PEERS TOTAL | 5,112,577 | 1,002,369 | 179,107 |
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Skywater Technology Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Skywater Technology Inc | United States 93.80 % |
| Asml Holding Nv | Rest of Europe and Middle East 1.43 % |
| Lam Research Corporation | China 33.83 % |
| Applied Materials Inc | Taiwan 27.24 % |
| Kla Corporation | Taiwan 25.45 % |
| Thermo Fisher Scientific Inc | North America 51.27 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Skywater Technology Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 109 companies in Skywater Technology Inc's industry classification, broader than the peer set above. Market cap in millions of $.Skywater Technology Inc ranks #0 of 109 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,373, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Nvidia Corp | 5,557,865 | 44.31 % |
| 2 | Broadcom Inc | 1,783,853 | 14.22 % |
| 3 | Micron Technology Inc | 1,206,807 | 9.62 % |
| 4 | Advanced Micro Devices Inc | 1,008,456 | 8.04 % |
| 5 | Intel Corporation | 1,234 | 5.2% |
| 6 | Applied Materials Inc | 1,234 | 5.2% |
| 7 | Arm Holdings Plc | 1,234 | 5.2% |
| 8 | Texas Instruments Incorporated | 1,234 | 5.2% |
| 9 | Marvell Technology Inc | 1,234 | 5.2% |
| 10 | Analog Devices Inc | 1,234 | 5.2% |
| 0 | Skywater Technology Inc | 1,598 | 0.00 % |
Market cap and industry share for the rest of Skywater Technology Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-08-07.
Skywater Technology Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Semiconductors industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (151 companies). See the full Semiconductors industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 20.21 % | 34.40 % (avg) | -14.2 pp |
| Operating Margin | 0.71 % | industry median | -2.1 pp |
| EBITDA Margin | 23.88 % | 7.07 % (avg) | +16.8 pp |
| Capital Intensity (Capex / Revenue) | 5.05 % | 9.39 % (avg) | -4.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Skywater Technology Inc's Valuation vs Competitive Position
Valuation multiples vs the Semiconductors industry average (151 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Semiconductors industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 14.3x | 43.3x | -28.9x |
| EV / EBITDA | 12.4x | 22.7x | -10.3x |
| P/B | 8.8x | 6.6x | +2.3x |
| Return on Equity | 63.55 % | industry aggregate | 16.72 % |
| Return on Invested Capital | 0.75 % | -0.16 % (avg) | 0.91 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Skywater Technology Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | - | 34.63 % | 19.39 % | 29.18 % |
| Operating Margin | -35.07 % | -5.16 % | 1.92 % | -0.58 % |
| Return on Invested Capital | -20.83 % | -6.22 % | 2.87 % | -0.58 % |
| P/E | - | - | - | 8.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Skywater Technology Inc's Strategic Group Map
Every company in Skywater Technology Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Skywater Technology Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Skywater Technology Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 2,373 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 5.05 % vs industry average 9.39 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Skywater Technology Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Skywater Technology Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Skywater Technology Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Skywater Technology Inc falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Skywater Technology Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 16.7 points above the industry aggregate.
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-2.1% annualized vs trailing 12 months).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- Industry revenue growing at a healthy 10.3% median pace.
- Trades at a lower P/E than the industry average (14.3x vs 43.3x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- Industry dominated by Nvidia Corp, holding 44.31 % of industry market cap.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Skywater Technology Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Skywater Technology Inc | 0.07 | 0.59 | 1.13 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Asml Holding Nv | - | 1.26 | 0.22 |
| Lam Research Corporation | 0.96 | 2.38 | 0.38 |
| Applied Materials Inc | 0.79 | 2.53 | 0.29 |
| Kla Corporation | 0.46 | 2.80 | 1.08 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Skywater Technology Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Skywater Technology Inc | Q2 2026 | +164.8 % | - |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Asml Holding Nv | Q4 2025 | +15.6 % | +26.9 % |
| Lam Research Corporation | Q2 2026 | +30.0 % | +32.4 % |
| Applied Materials Inc | Q2 2026 | +24.8 % | +42.7 % |
| Kla Corporation | Q2 2026 | +15.2 % | +13.3 % |
| PEERS TOTAL | +19.9 % | +46.7 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Skywater Technology Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Skywater Technology Inc | Q2 2026 | +151.6 % | +281.9 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Asml Holding Nv | Q4 2025 | +11.9 % | -21.7 % |
| Lam Research Corporation | Q2 2026 | +25.6 % | +9.6 % |
| Applied Materials Inc | Q2 2026 | +21.1 % | +21.1 % |
| Kla Corporation | Q2 2026 | +17.0 % | -11.1 % |
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Skywater Technology Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Skywater Technology Inc | 16.42% | 29.52% | 63.55% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Asml Holding Nv | 19.00% | 36.53% | 49.00% |
| Lam Research Corporation | 33.19% | 41.27% | 67.41% |
| Applied Materials Inc | 23.70% | 28.79% | 41.02% |
| Kla Corporation | 28.75% | 37.03% | 88.40% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Skywater Technology Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Skywater Technology Inc | 13.47 | 2.50 |
| Taiwan Semiconductor Manufacturing Company Limited | 83.81 | 19.15 |
| Asml Holding Nv | 73.11 | 19.20 |
| Lam Research Corporation | 56.59 | 17.69 |
| Applied Materials Inc | 43.94 | 13.19 |
| Kla Corporation | 7.18 | 19.04 |
| PEERS AVERAGE | 45.77 | 8.18 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.