Silicon Laboratories, Inc. (Silicon Labs) is worldwide fabless semiconductor company. The Company provides solutions and software for use in a variety of electronic products in a range of applications including portable devices, AM/FM radios and other consumer electronics, networking equipment, test and measurement equipment, industrial monitoring and control, home automation and customer premises equipment. These products integrate complex mixed-signal functions that are frequently performed by numerous discrete components in competing products into a single chip or chipset.

Silicon Labs’ portfolio is organized around four primary businesses: Internet of Things - which includes 8-bit and 32-bit microcontrollers (MCUs), environmental sensors such as relative humidity and temperature sensors, and human interface solutions such as capacitive touch controllers and proximity/ambient light sensors, Infrastructure - which includes timing ICs (clock generators and oscillators), digital isolators, wireless ICs (2.4 GHz ZigBee SoCs and sub-GHz transmitters, receivers and transceivers); Broadcast - which includes single-chip AM/FM radios for consumer radio, automotive infotainment and professional audio applications and silicon TV tuners and demodulators for flat-screen TVs and set-top boxes; Access - which includes analog modems for set-top boxes, point of sale terminals and multi-function printers, SLICs for VoIP gateways, and PoE devices for networking gear.

Silicon Laboratories was founded in 1996 and is headquartered in Austin, US

Silicon Laboratories has offices in Austin, Boston, Espoo, Budapest and in 15 other locations

Austin, US (HQ)

400 W Cesar Chavez St

High Wycombe, GB

Abbey Barn Ln Abbey Barn Cottage

Blackwater, GB

Meadows Business Park Station Approach

Gallarate, IT

36 Via Marsala

Budapest, HU

Graphisoft Park S épület 7 Záhony U.

Hong Kong, HK

66 Mody Rd

Silicon Laboratories's revenue was reported to be $179 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 179 m |

## Gross profit (Q1, 2017) | 105.2 m |

## Gross profit margin (Q1, 2017), % | 59% |

## Net income (Q1, 2017) | 15.4 m |

## EBIT (Q1, 2017) | 12.7 m |

## Market capitalization (25-Jul-2017) | 3 b |

## Cash (01-Apr-2017) | 225.4 m |

Silicon Laboratories's current market capitalization is $3 b.

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 580.1 m | 620.7 m | 644.8 m | 697.6 m |

## Revenue growth, % | 7% | 4% | 8% | |

## Cost of goods sold | 227.2 m | 242.2 m | 264.1 m | 276.1 m |

## Gross profit | 352.9 m | 378.6 m | 380.8 m | 421.5 m |

## Gross profit Margin, % | 61% | 61% | 59% | 60% |

## R&D expense | 199.7 m | |||

## General and administrative expense | 155.5 m | |||

## Operating expense total | 288.6 m | 327.1 m | 348.5 m | 355.2 m |

## EBIT | 64.3 m | 51.4 m | 32.2 m | 66.3 m |

## EBIT margin, % | 11% | 8% | 5% | 10% |

## Interest expense | 3.3 m | 3.2 m | 2.8 m | 2.6 m |

## Interest income | 853 k | 1 m | 730 k | 1.3 m |

## Pre tax profit | 62 m | 49 m | 30.3 m | 64.5 m |

## Income tax expense | 12.2 m | 11 m | 677 k | 3 m |

## Net Income | 49.8 m | 38 m | 29.6 m | 61.5 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 154.9 m | 158.1 m | 163.7 m | 164.9 m | 156.2 m | 162 m | 174.9 m | 178.1 m | 179 m |

## Cost of goods sold | 56.3 m | 62 m | 67.3 m | 67.4 m | 62.8 m | 66.5 m | 66.6 m | 69.9 m | 73.9 m |

## Gross profit | 98.7 m | 96.1 m | 96.4 m | 97.4 m | 93.4 m | 95.5 m | 108.3 m | 108.2 m | 105.2 m |

## Gross profit Margin, % | 64% | 61% | 59% | 59% | 60% | 59% | 62% | 61% | 59% |

## R&D expense | 41.8 m | 42.5 m | 46.9 m | 47.5 m | 46.5 m | 49 m | 51.6 m | 48.4 m | 52.3 m |

## General and administrative expense | 36 m | 44 m | 42.3 m | 41 m | 35.7 m | 39.6 m | 39 m | 38 m | 40.2 m |

## Operating expense total | 77.9 m | 86.5 m | 89.2 m | 88.4 m | 82.2 m | 88.7 m | 90.7 m | 86.5 m | 92.5 m |

## EBIT | 20.8 m | 9.6 m | 7.2 m | 9 m | 11.2 m | 6.8 m | 17.6 m | 21.7 m | 12.7 m |

## EBIT margin, % | 13% | 6% | 4% | 5% | 7% | 4% | 10% | 12% | 7% |

## Interest expense | (780 k) | (768 k) | (745 k) | (728 k) | (687 k) | (655 k) | (641 k) | (643 k) | 198 k |

## Interest income | 200 k | 231 k | 192 k | 166 k | 186 k | 271 k | 278 k | 331 k | 696 k |

## Pre tax profit | 20.2 m | 9.1 m | 7.1 m | 8.5 m | 10.4 m | 6.1 m | 17.3 m | 21.4 m | 13.5 m |

## Income tax expense | 5.9 m | 3.5 m | 689 k | 956 k | 467 k | 265 k | 1.7 m | 1.3 m | (2 m) |

## Net Income | 14.3 m | 5.6 m | 6.4 m | 7.6 m | 10 m | 5.8 m | 15.6 m | 20 m | 15.4 m |

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 95.8 m | 141.7 m | 114.1 m | 141.1 m |

## Accounts Receivable | 72.1 m | 70.4 m | 73.6 m | 74.4 m |

## Inventories | 45.3 m | 52.6 m | 53.9 m | 59.6 m |

## Current Assets | 459.3 m | 528.5 m | 423.1 m | 490.9 m |

## PP&E | 132.4 m | 132.8 m | 131.1 m | 129.6 m |

## Goodwill | 228.8 m | 228.8 m | 272.7 m | 276.1 m |

## Total Assets | 991.2 m | 1 b | 1 b | 1.1 b |

## Accounts Payable | 22.1 m | 38.9 m | 42.1 m | 39.6 m |

## Total Debt | 95 m | 87.5 m | 77.5 m | 82.5 m |

## Current Liabilities | 109.1 m | 163.3 m | 142.3 m | 139.7 m |

## Total Liabilities | 252.6 m | 284.5 m | 250.3 m | 254.9 m |

## Additional Paid-in Capital | 48.6 m | 29.5 m | 13.9 m | 24.5 m |

## Retained Earnings | 690.6 m | 728.6 m | 747.7 m | 802 m |

## Total Equity | 738.6 m | 758.1 m | 761.1 m | 827 m |

## EPS | 0.9 | 0.7 | 1.5 | |

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x |

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x |

## Financial Leverage | 1.3 x | 1.4 x | 1.3 x | 1.3 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 93.3 m | 111.7 m | 112.7 m | 125.1 m | 135.6 m | 126.7 m | 101.3 m | 148.2 m | 225.4 m |

## Accounts Receivable | 72 m | 84.9 m | 75.9 m | ||||||

## Inventories | 45.6 m | 47 m | 61.1 m | 60.7 m | 52 m | 48.9 m | 56.4 m | 55.1 m | 61.3 m |

## Current Assets | 509 m | 504.9 m | 457.8 m | 481.6 m | 429.4 m | 421.3 m | 425.4 m | 468.4 m | 813.2 m |

## PP&E | 129.4 m | 128.4 m | 131.3 m | 131 m | 130.3 m | 130.1 m | 130.5 m | 130.3 m | 130.6 m |

## Goodwill | 228.8 m | 228.8 m | 264.7 m | 263.9 m | 263.9 m | 272.7 m | 272.7 m | 272.7 m | 288.6 m |

## Total Assets | 1 b | 1 b | 1 b | 1 b | 978.1 m | 998.3 m | 992.6 m | 1 b | 1.4 b |

## Accounts Payable | 24.7 m | 28.4 m | 39.3 m | 34.6 m | 30.3 m | 42.6 m | 41.2 m | 39.6 m | 43.8 m |

## Current Liabilities | 134.8 m | 152.7 m | 134.8 m | 133.4 m | 129.3 m | 155.1 m | 141 m | 143.8 m | 145.3 m |

## Additional Paid-in Capital | 65.2 m | 31.5 m | 28.8 m | 44.2 m | 29.5 m | 13.9 m | 13.9 m | 6.3 m | 59.7 m |

## Retained Earnings | 713 m | 718.6 m | 735 m | 742.6 m | 742.1 m | 750.3 m | 761.9 m | 781.9 m | 819.6 m |

## Total Equity | 777.6 m | 750 m | 763.4 m | 786.2 m | 741.5 m | 749.4 m | 761.1 m | 787.6 m | 878.8 m |

## Financial Leverage | 1.3 x | 1.4 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.6 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 49.8 m | 38 m | 29.6 m | 61.5 m |

## Depreciation and Amortization | 13.5 m | 12.6 m | 12.5 m | 13.2 m |

## Accounts Receivable | 9 m | 1.8 m | 1.7 m | 46 k |

## Inventories | 5.6 m | (7.2 m) | 2.1 m | (6.1 m) |

## Accounts Payable | (4 m) | 11.5 m | 6.7 m | 263 k |

## Cash From Operating Activities | 120.2 m | 137.4 m | 105.4 m | 128.9 m |

## Purchases of PP&E | (10.5 m) | (11.2 m) | (11.3 m) | (10.9 m) |

## Cash From Investing Activities | (105.9 m) | (26.3 m) | (49.3 m) | (49.6 m) |

## Cash From Financing Activities | (23.9 m) | (65.2 m) | (83.8 m) | (52.3 m) |

## Interest Paid | 2.9 m | 3 m | 2.5 m | 2.2 m |

## Income Taxes Paid | 3.8 m | 11.6 m | 2.2 m | 11.2 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 14.3 m | 5.6 m | 6.4 m | 7.6 m | 10 m | 5.8 m | 15.6 m | 20 m | 15.4 m |

## Accounts Receivable | 72 m | 84.9 m | 75.9 m | ||||||

## Inventories | 45.6 m | 47 m | 61.1 m | 60.7 m | 52 m | 48.9 m | 56.4 m | 55.1 m | 61.3 m |

## Accounts Payable | 24.7 m | 28.4 m | 39.3 m | 34.6 m | 30.3 m | 42.6 m | 41.2 m | 39.6 m | 43.8 m |

## Income Taxes Paid | 896 k | 1.3 m | 1.3 m | 942 k | 1.1 m | 3.1 m | 3.6 m | 5.6 m | 4.4 m |

Y, 2017 | |
---|---|

## Financial Leverage | 1.6 x |

Silicon Laboratories's Customers was reported to be 30 k in Apr, 2017. Silicon Laboratories's Units Shipped was reported to be 7 b in Apr, 2017

Source: 127 public H-1B filings from Silicon Laboratories