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InterDigital, Inc.

IDCC Technology Software Application

InterDigital, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $834.0 million, down 3.97% from fiscal 2024.

Revenue
+17.5%
EPS
+18.7%
Free cash flow
−64.2%
Total debt
−35.2%

Quarter to September 2026, against a year earlier

287.36 21.14 −6.85%
Market cap
$7.4B
P/E
23.5×
Fwd P/E
35.8×
Dividend yield
0.99%
F-score
6/9
Altman Z
8.06
Beneish M
−3.32
Dividend safety
86/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • China
  • Korea
  • United States
  • Taiwan
  • Japan
  • Europe

Every year since 2011 →

Insider Decisions last twelve months

Sold, $m 25.71
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 6 5 2 1 1 8 1 2 1 1 —
Insider Ownership 2.27%

Capital & Financial Ratios $m

Size
Market Cap 7,380.00
Revenue ttm 817.25
Net income ttm 314.90
Free cash flow ttm 251.96
Net debt Q (815.61)
Valuation
P/E 23.52
Forward P/E 35.80 (above 35: high)
Price / sales 9.07
Forward P/S Powerpack
Price / FCF 58.55
Price / book 5.94
Financial health
Current ratio Q 1.90 (at or above 1.5: strong)
Debt / equity Q 0.25 (at or below 0.5: strong)
Interest coverage Q 11.09
Growth
Revenue growth Q +17.46% (above 0%: growing)
Operating income growth Q +31.07% (above 0%: growing)
EPS, this year −22.94% (below 0%: weak)
EPS, next year A −10.68% (below 0%: weak)
Revenue, next year A −2.32% (below 0%: weak)
EPS, past 5 yrs +52.30% (at or above 15%: strong)
EPS, next 5 yrs A −10.68% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.1×, against a ten-year median of 4.2×; over the ten years it ranged from 2.1× in 2022 to 10.4× in 2026.
P/E against its own 10 years 63.37%
10-year low 10-year high
P/S against its own 10 years 91.49%
10-year low 10-year high
P/B against its own 10 years 85.37%
10-year low 10-year high
EV/Sales against its own 10 years 91.09%
10-year low 10-year high
EV/FCF against its own 10 years 87.65%
10-year low 10-year high

Dividends raised 4 years running

Yield
0.99%
Annual rate
2.85
Payout ratio
31.4%
Growth, 2018–26
+9.29%/yr
  1. 1.40 ’18
  2. 1.40 ’19 +0
  3. 1.40 ’20 +0
  4. 1.40 ’21 +0
  5. 1.40 ’22 +0
  6. 1.45 ’23 +4
  7. 1.65 ’24 +14
  8. 2.35 ’25 +42
  9. 2.85 ’26 +21
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,006 958 1,243 1,123
Receivables 117 188 70 116
Inventory — — — —
Other — — — —
1,168 1,231 1,388 1,326
2023 2024 2025 Q'26
Payables 8 12 10 12
ST’ Debt 579 456 458 296
Other — — — —
881 726 753 699

Compound Annual Growth %

10y 5y 3y
Sales 6.57% 18.36% 22.13%
Cash Flow 15.91% 27.21% 23.93%
Earnings 13.05% 55.45% 63.12%
Book Value 7.75% 6.69% 14.66%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.96 Actual 3.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.65 2.12 Beat by 0.47
Q1 FY26 2.54 2.57 Beat by 0.03
Q2 FY26 1.60 4.62 Beat by 3.02
Q3 FY26 1.96 3.11 Beat by 1.15
Q4 FY26 1.88 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.14 3.40 2.34 — —
’25 3.45 5.35 1.93 1.20 11.80
’24 2.88 3.93 1.14 4.09 12.07
’23 3.58 0.79 1.72 1.41 7.62
’22 0.58 0.69 0.74 1.08 3.07
’21 0.18 0.05 0.83 0.70 1.77
’20 0.00 0.72 0.76 (0.04) 1.44
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 205 260 193 — —
’25 211 301 165 158 834
’24 264 223 129 253 869
’23 202 102 140 106 550
’22 101 125 115 117 458
’21 82 88 143 112 425
’20 76 104 87 91 359
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 16 83 150 — —
’25 (20) 105 396 63 544
’24 51 (49) 78 192 272
’23 (28) (45) 311 (24) 214
’22 (18) (34) (19) 357 286
’21 (10) (27) 96 71 130
’20 (27) 70 101 19 163
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1 67 136 — —
’25 (47) 92 381 (22) 403
’24 41 (85) 65 164 209
’23 (36) (58) 273 (37) 169
’22 (38) (57) (28) 305 243
’21 (29) (49) 79 63 92
’20 (41) 52 75 4 121
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 17.1% a year for ten years. It grew 2.3% a year over the last ten.

Implied
17.1%
10 years, reported
2.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 666 533 307 319 359 425 458 550 869 834 817 +2.5% 815 784 900 +2.6%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 422 292 32 26 31 58 118 235 429 469 373 +1.2%
EBT margin, % 63.42 54.86 10.43 8.13 8.72 13.53 25.68 42.69 49.44 56.29 45.63 (7.1) pt
Net income 305 171 59 15 38 42 92 211 359 407 315 +3.2%
Per share, $
Per share, $ Revenue 19.29 15.40 8.91 10.11 11.66 13.83 15.21 20.46 34.29 32.33 31.68 +5.9%
Earnings 8.95 5.04 1.85 0.66 1.46 1.80 3.11 7.97 14.16 15.77 12.22 +6.5%
Cash flow 12.57 9.13 4.26 2.84 5.31 4.24 9.50 7.96 10.72 21.11 12.11 +5.9%
Capex (1.26) (1.07) (1.07) (1.20) (1.38) (1.24) (1.42) (1.66) (2.49) (5.47) (2.34) +17.7%
Free cash flow 11.32 8.06 3.19 1.63 3.93 2.99 8.08 6.30 8.23 15.64 9.77 +3.7%
Book value 21.85 25.23 27.20 24.92 25.88 24.47 24.26 21.65 33.85 42.69 48.40 +7.7%
Shares, m 35 35 34 32 31 31 30 27 25 26 26 (3.2%)
Valuation, ×
Valuation, × P/E 10.08 15.63 36.10 81.33 41.85 40.02 18.02 13.61 13.70 20.21 23.52 29.1
P/S 4.70 5.10 7.45 5.39 5.20 5.18 3.70 5.19 5.65 9.85 9.07 5.7
P/B 4.15 3.12 2.44 2.19 2.34 2.93 2.32 4.91 5.72 7.46 5.94 3.8
EV/Sales 4.02 3.89 6.15 3.89 3.65 3.97 2.40 4.47 5.09 8.93 8.07 4.6
EV/FCF 6.85 7.91 18.55 68.98 14.50 26.40 6.04 27.26 29.74 21.35 52.11 22.8
Cash, $m
Cash, $m Operating cash flow 434 316 147 89 163 130 286 214 272 544 312 +2.5%
Capex (43) (37) (37) (38) (42) (38) (43) (45) (63) (141) (60) +14.0%
Free cash flow 391 279 110 51 121 92 243 169 209 403 252 +0.4%
Balance, $m
Balance, $m Working capital 796 1,019 845 711 707 679 1,073 286 505 635 626 (2.5%)
Net debt (681) (873) (628) (480) (556) (515) (592) (399) (486) (768) (816) +1.4%
Shareholders’ equity 754 873 938 786 797 753 731 582 857 1,101 1,248 +4.3%
Returns, %
Returns, % ROA 19.30 9.84 3.74 1.29 2.78 3.41 5.31 11.66 19.89 20.85 14.66 +1.5 pt
ROIC 371.21 67,539.20 12.64 7.72 14.31 18.70 67.77 75.70 74.09 86.59 53.24 (284.6) pt
ROE 48.42 21.66 7.18 2.43 5.66 7.14 12.63 32.63 49.85 41.53 26.82 (6.9) pt
People
People Employees 360 350 390 487 514 510 425 450 430 460 — +2.8%
Revenue/emp, $m 1.85 1.52 0.79 0.65 0.70 0.83 1.08 1.22 2.02 1.81 — (0.2%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

InterDigital researches and develops wireless, video and artificial intelligence technologies, then licenses its patented inventions to companies that use them. Its customers include makers of smartphones, computers, televisions, connected cars and other devices, as well as providers of cloud-based services. It was founded in 1972, is headquartered in Wilmington, Delaware, and is led by President and Chief Executive Officer Liren Chen.

The company’s wireless work covers cellular and Wi-Fi technology used to transmit voice, data and video. Its video work includes technology for encoding and decoding video, which makes it possible to store and deliver content across devices and networks. Its AI research focuses on applications in wireless and video, including video compression and wireless systems.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
China 309 37.09%
Korea 263 31.47%
United States 239 28.71%
Taiwan 12 1.48%
Japan 7 0.85%
Europe 3 0.40%
Gross margin 100.00%
Operating margin 55.26%
Pre-tax margin 56.29%

Revenue by segment since 2011

InterDigital, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PCTY Paylocity Holding Corporation $8.9B 34.1× 28.6× +10.98% (above 0%: growing) +28.41% (above 0%: growing) +10.54% (above 0%: growing) 67.54% 18.98% Compare
QNT Quantinuum Inc. $8.6B — — — n/m — (28.93%) (6,939.56%) Compare
TTAN ServiceTitan Inc. $8.5B — (loss-making) — (loss-making) +20.91% (above 0%: growing) n/m +47.10% (above 0%: growing) 71.41% (9.41%) Compare
APPF AppFolio, Inc. $8.4B 48.8× 44.1× +18.58% (above 0%: growing) +38.30% (above 0%: growing) +14.46% (above 0%: growing) 64.29% 19.42% Compare
YMM Full Truck Alliance Co. Ltd. Sponsored ADR $8.4B 15.2× 11.9× +10.22% (above 0%: growing) +11.76% (above 0%: growing) +10,172.78% (above 0%: growing) 72.62% 43.95% Compare
YOU CLEAR Secure, Inc. $8.0B 28.9× 24.5× +27.77% (above 0%: growing) +156.72% (above 0%: growing) −94.18% (below 0%: shrinking) 68.55% 28.32% Compare
IDCC InterDigital, Inc. $7.9B 23.5× 35.8× +17.46% (above 0%: growing) +18.71% (above 0%: growing) −64.24% (below 0%: shrinking) 100.00% 51.37%
DUOL Duolingo, Inc. $7.6B 50.7× 48.1× +13.73% (above 0%: growing) −90.88% (below 0%: shrinking) +15.63% (above 0%: growing) 72.86% 7.83% Compare
LYFT Lyft, Inc. $7.1B 2.6× 29.7× +16.08% (above 0%: growing) +30.00% (above 0%: growing) −1.89% (below 0%: shrinking) 49.75% 2.58% Compare
Median of peers $8.4B 31.5× 29.2× +16.08% +29.21% +14.46% 68.05% 13.41%

All 230 Software Application stocks →

From the latest earnings call

Updated

  • CEO Liren Chen said a new PC patent license brought 70% of the market under InterDigital licenses, with its final value subject to arbitration.
  • CFO Rich Brezski said InterDigital’s fourth-quarter and full-year outlooks include existing licenses but exclude potential contributions from new agreements or enforcement outcomes.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 105.50%
Held by the ten largest 60.59%
Holder Shares Stake Change
BlackRock 3.91m 15.14% +297.05k
T. Rowe Price 3.36m 13.02% +553.29k
Vanguard 3.02m 11.69% +56.83k
Boston Partners 1.14m 4.43% +165.36k
State Street 1.01m 3.90% +49.67k
Geode Capital Management 920.46k 3.57% +68.00k
Dimensional Fund Advisors 668.40k 2.59% −207.00
Ameriprise (Columbia Threadneedle) 565.31k 2.19% +38.23k
Fidelity (FMR) 537.59k 2.08% +307.35k
DISCIPLINED GROWTH INVESTORS INC /MN 510.10k 1.98% −46.69k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

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IDCC metrics, ten years each

stockrow.com/IDCC · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com