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Licenses the CPU architecture and processor designs used in nearly all smartphones and a growing share of servers and PCs.
Licenses the CPU architecture and processor designs used in nearly all smartphones and a growing share of servers and PCs.
Does not make chips; it sells designs. Customers pay a licence fee up front to use its architecture or core designs, then a royalty on every chip they ship later, so earnings follow other companies' chip volumes. SoftBank still owns most of it; it listed on Nasdaq in 2023.
In one line: Royalty-based chip 'Switzerland' — licenses designs rather than making chips.
Moat: wide (IP / patents, network effects, switching costs). Virtually every mobile chip is built on Arm's architecture; decades of software/tooling ecosystem lock-in.
Headquarters: Cambridge, United Kingdom · Founded: 1990 · Employees: 9,584
Size Arm (ARM) is a United States Information Technology company (Semiconductors) with a market value of $204B, the 56th largest of 3,117 United States companies the cockpit tracks. Shares closed at $174.62 on 6 Nov 2026.
Performance Over six months the shares fell 18.1%, against -14.1% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 19 in its peer set.
Growth Revenue grew 25.1% over the last twelve months (peer median +23.7%); the operating margin is 17.3% (peer median 26.5%).
Valuation It trades at 67.7× forward earnings against a peer median of 24.6× (2nd most expensive of 20).
Capital Return on invested capital runs 6.4 points below its cost of capital (19.8% WACC).
Backlog Backlog (remaining performance obligations) was $2.42B at 30 Sep 2026, up 8% on a year earlier — 0.4 years of trailing revenue. Backlog detail →
Short interest Short interest is 1.7% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.16B | $4.92B | $4.01B | $3.23B | $2.68B |
| Revenue growth | — | +23% | +24% | +21% | — |
| Gross profit | $4.84B | $4.55B | $3.80B | $3.00B | $2.48B |
| EBITDA | $1.15B | $1.14B | $1.01B | $261M | $848M |
| Net income | $1.04B | $904M | $792M | $306M | $524M |
| Free cash flow | $1.51B | $979M | $178M | $998M | $675M |
| Capital expenditure | $622M | $575M | $239M | $143M | $93.0M |
| Total debt | $485M | $491M | $356M | $226M | $219M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Arm ARM | $204B | -18% | +25% | 17% | 67.7× | n/a |
| Intel INTC | $299B | -55% | +12% | 11% | 39.9× | 46.1% |
| Advanced Micro Devices AMD | $733B | -1% | +42% | 18% | 30.0× | 60.9% |
| Andes Technology 6533.TW | $343M | -12% | +26% | -21% | 61.3× | 24.6% |
| Synopsys SNPS | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% |
| Cadence Design Systems CDNS | $87.8B | -12% | +18% | 30% | 34.0× | 29.9% |
| CEVA CEVA | $763M | -27% | +9% | -10% | 39.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.6% | -21.8% | 4th lowest of 21 |
| 6-month return | -18.1% | -14.1% | 8th lowest of 19 |
| Distance from 52-week high | -61.4% | -37.1% | 2nd lowest of 21 |
| Revenue growth (TTM) | +25.1% | +23.7% | 10th highest of 21 |
| Operating margin | 17.3% | 26.5% | 8th lowest of 21 |
| Forward P/E | 67.7× | 24.6× | 2nd most expensive of 20 |
| ROIC minus cost of capital | -6.4 pp | +3.6 pp | 5th lowest of 21 |
| Net debt / EBITDA | -3.0× | 0.4× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Arm ARM | United States | $204B | -18% | +25% | 17% | 67.7× | n/a | n/a |
| KLA KLAC | United States | $180B | -26% | +16% | 43% | 22.3× | 23.5% | +14.4% |
| Qualcomm QCOM | United States | $177B | -24% | +2% | 24% | 17.0× | 15.9% | +5.1% |
| Analog Devices ADI | United States | $176B | -13% | +34% | 36% | 22.4× | 27.8% | +14.5% |
| Texas Instruments TXN | United States | $253B | -4% | +20% | 41% | 24.6× | 23.3% | +4.1% |
| Mediatek 2454.TW | Taiwan | $164B | +7% | +6% | 15% | 24.7× | 40.7% | +13.1% |
| Intel INTC | United States | $299B | -55% | +12% | 11% | 39.9× | 46.1% | -7.5% |
| Marvell Technology MRVL | United States | $124B | -17% | +31% | 17% | 25.0× | 54.4% | +22.5% |
| CXMT 688825.SS | China | $411B | n/a | +156% | 13% | n/a | n/a | n/a |
| Kioxia 285A.T | Japan | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% | +18.8% |
| Zhongji Innolight 3308.HK | Hong Kong | $80.7B | n/a | +177% | 41% | 16.7× | 27.6% | +39.3% |
| SMIC 0981.HK | Hong Kong | $76.7B | -41% | +20% | 9% | 32.9× | n/a | n/a |
| ASML ASML.AS | Netherlands | $550B | -6% | +23% | 39% | 31.1× | 28.9% | +18.5% |
| Cambricon Technologies 688256.SS | China | $75.7B | -30% | +104% | 33% | 87.3× | n/a | n/a |
| Ase Technology 3711.TW | Taiwan | $70.4B | +2% | +25% | 11% | 17.3× | n/a | n/a |
| SK hynix 000660.KS | South Korea | $608B | -12% | +220% | 74% | 3.1× | -3.1% | +24.9% |
| Infineon Technologies IFX.DE | Germany | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% | +11.3% |
| NXP Semiconductors NXPI | United States | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% | +7.3% |
| TE Connectivity TEL | United States | $59.5B | +1% | +15% | 22% | 15.1× | 8.2% | +5.9% |
| Monolithic Power Systems MPWR | United States | $58.1B | -26% | +40% | 30% | 28.3× | 39.6% | +27.0% |
| Advanced Micro Devices AMD | United States | $733B | -1% | +42% | 18% | 30.0× | 60.9% | +28.8% |
Arm reported $2.42B of remaining performance obligations at 30 Sep 2026, up 8% from a year earlier and up 14% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.21.