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Friday 6 November 2026
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SEALSQ Corp.
LAES Technology Semiconductors
SEALSQ Corp.’s revenue for fiscal 2025 (year ended December 2025) was $18.3 million, up 66.2% from fiscal 2024.
1.32
0.09
+7.32%
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Analyst price targets
Free accountTen 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 Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 17 | 23 | 30 | 11 | 18 | — | +1.8% | 29 | 41 | 51 | +40.9% | |
| Gross margin, % | — | — | — | — | — | 42.05 | 42.24 | 46.74 | 33.95 | 47.28 | — | +5.2 pt | ||||||
| EBT | — | — | — | — | — | (5) | 3 | (3) | (18) | (34) | — | +63.2% | ||||||
| EBT margin, % | — | — | — | — | — | (28.37) | 10.88 | (10.12) | (164.98) | (187.42) | — | (159.0) pt | ||||||
| Net income | — | — | — | — | — | (5) | 6 | (3) | (21) | (34) | (103) | +63.1% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 13.09 | 2.86 | 3.85 | 0.40 | 0.13 | — | (68.2%) | |||||
| Earnings | — | — | — | — | — | (3.72) | 0.71 | (0.21) | (0.60) | (0.24) | — | (49.6%) | ||||||
| Cash flow | — | — | — | — | — | (2.77) | 0.06 | (0.39) | (0.36) | (0.23) | 0.00 | (46.4%) | ||||||
| Capex | — | — | — | — | — | (0.03) | (0.04) | (0.39) | (0.02) | (0.01) | 0.00 | (33.6%) | ||||||
| Free cash flow | — | — | — | — | — | (2.79) | 0.02 | (0.78) | (0.39) | (0.23) | 0.00 | (46.2%) | ||||||
| Book value | — | — | — | — | — | (10.45) | 0.03 | 0.65 | 2.76 | 3.38 | 0.00 | n/m | ||||||
| Shares, m | — | — | — | — | — | 1 | 8 | 8 | 28 | 137 | — | +220.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| P/B | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/FCF | — | — | — | — | — | 0.00 | 0.00 | (0.49) | 2.96 | 6.95 | 5.96 | 1.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (4) | 0 | (3) | (10) | (31) | (78) | +71.8% | |||||
| Capex | — | — | — | — | — | 0 | 0 | (3) | (1) | (1) | (3) | +113.1% | ||||||
| Free cash flow | — | — | — | — | — | (4) | 0 | (6) | (11) | (32) | (81) | +72.3% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 0 | 5 | 12 | 76 | 421 | 486 | +441.8% | |||||
| Net debt | — | — | — | — | — | 14 | 9 | 7 | (77) | (427) | (488) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | (14) | 0 | 5 | 76 | 462 | 562 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 34.44 | (13.18) | (33.79) | (11.36) | 0.00 | (11.4) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 18.01 | (21.07) | 0.00 | (71.31) | 0.00 | (71.3) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | (86.44) | (124.66) | (52.01) | (12.71) | 0.00 | (12.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 61 | 67 | 185 | — | +74.1% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.49 | 0.16 | 0.10 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · fundamentals updated 26 Oct 2026
SEALSQ Corp. vs peers in Semiconductors (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 |
|---|---|---|---|---|---|---|---|---|---|
| AOSL Alpha and Omega Semiconductor Limited | $560.0M | — (loss-making) | — (loss-making) | −3.46% (below 0%: shrinking) | n/m | −45.84% (below 0%: shrinking) | 23.09% | (6.45%) | Compare |
| NVEC NVE Corporation | $345.0M | 19.5× | 17.7× | −8.07% (below 0%: shrinking) | −2.94% (below 0%: shrinking) | +112.93% (above 0%: growing) | 78.22% | 54.95% | Compare |
| INDI indie Semiconductor, Inc. | $314.1M | — (loss-making) | — (loss-making) | +23.97% (above 0%: growing) | n/m | −134.86% (below 0%: shrinking) | 36.07% | (54.81%) | Compare |
| LAES SEALSQ Corp. | $284.0M | — | — | — | — | −417.61% (below 0%: shrinking) | — | — | |
| MRAM EVERSPIN TECH | $262.0M | — (loss-making) | — (loss-making) | +41.93% (above 0%: growing) | n/m | −165.66% (below 0%: shrinking) | 53.89% | (23.39%) | Compare |
| VLN Valens Semiconductor, Ltd. | $147.3M | — (loss-making) | — (loss-making) | +6.13% (above 0%: growing) | n/m | −1,024.55% (below 0%: shrinking) | 61.52% | (43.89%) | Compare |
| QUIK QuickLogic Corporation | $134.5M | — (loss-making) | — (loss-making) | +48.68% (above 0%: growing) | n/m | +194.21% (above 0%: growing) | 43.91% | (31.32%) | Compare |
| GSIT GSI Technology, Inc. | $123.0M | — (loss-making) | — (loss-making) | +0.46% (above 0%: growing) | n/m | −143.28% (below 0%: shrinking) | 53.37% | (85.31%) | Compare |
| ALMU Aeluma, Inc. | $115.9M | — (loss-making) | — (loss-making) | −55.81% (below 0%: shrinking) | n/m | −1,197.87% (below 0%: shrinking) | 25.60% | (751.20%) | Compare |
| Median of peers | $204.6M | — | — | +3.30% | — | −139.07% | 48.64% | (37.60%) |