Wolfspeed Inc Financials
Wolfspeed Inc (WOLF) reported $757.6M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Wolfspeed’s dominant mechanic is capital-intensive expansion colliding with a cost base that overtook sales and a balance sheet under short-term pressure.
Revenue held near$758M across FY2023-FY2025, while gross margin turned negative by FY2025, indicating a cost-structure break rather than a volume-driven slowdown. With operating cash flow at-$712M and free cash flow at-$2.0B in FY2025, investment and operating losses were both consuming cash.
FY2025 ended with liabilities exceeding assets and negative equity of
The investment cycle is cash-hungry: capital expenditures reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Wolfspeed Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Wolfspeed Inc's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 18/100.
Wolfspeed Inc's revenue declined 0.1% year-over-year, from $758.5M to $757.6M. This contraction results in a growth score of 75/100.
Wolfspeed Inc's current ratio of 0.36 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Wolfspeed Inc's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 5/100.
Wolfspeed Inc scores -2.14, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($7.3B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Wolfspeed Inc passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Wolfspeed Inc reported a net loss of $1.6B while operations used $711.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Wolfspeed Inc reported an operating loss of $1.3B against $315.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Wolfspeed Inc generated $757.6M in revenue in fiscal year 2025.
Wolfspeed Inc's EBITDA was -$1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Wolfspeed Inc reported -$1.6B in net income in fiscal year 2025.
Cash & Balance Sheet
Wolfspeed Inc recorded an outflow of $2.0B in free cash flow in fiscal year 2025, representing a cash shortfall after capex.
Wolfspeed Inc held $467.2M in cash against $6.5B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Wolfspeed Inc's gross margin was -16.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
Wolfspeed Inc invested $175.1M in research and development in fiscal year 2025.
Wolfspeed Inc invested $1.3B in capex in fiscal year 2025, funding long-term assets and infrastructure.
Not reported for fiscal year 2025.
WOLF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $150.2M-10.9% | $168.5M-14.4% | $196.8M-0.1% | $197.0M+6.3% | $185.4M+2.7% | $180.5M-7.3% | $194.7M |
| Cost of Revenue | N/A | $190.2M-22.9% | $246.8M-9.9% | $273.9M+23.0% | $222.7M+7.1% | $207.9M-4.5% | $217.7M-5.7% | $230.9M |
| Gross Profit | N/A | -$40.0M+48.9% | -$78.3M-1.6% | -$77.1M-200.0% | -$25.7M-14.2% | -$22.5M+39.5% | -$37.2M-2.8% | -$36.2M |
| R&D Expenses | N/A | $27.2M+9.2% | $24.9M-21.5% | $31.7M-15.7% | $37.6M-10.9% | $42.2M-5.0% | $44.4M-12.8% | $50.9M |
| SG&A Expenses | N/A | $37.0M+25.9% | $29.4M-22.4% | $37.9M+5.0% | $36.1M-12.2% | $41.1M-19.6% | $51.1M-17.8% | $62.2M |
| Operating Income | N/A | -$114.3M+27.8% | -$158.4M+1.9% | -$161.4M+72.2% | -$581.6M-199.0% | -$194.5M+39.8% | -$323.0M-40.4% | -$230.1M |
| Interest Expense | N/A | $52.1M-10.2% | $58.0M+8185.7% | $700K-99.2% | $84.8M-0.7% | $85.4M+6.1% | $80.5M+24.8% | $64.5M |
| Income Tax | N/A | -$300K-125.0% | $1.2M-65.7% | $3.5M+134.7% | -$10.1M-10200.0% | $100K+200.0% | -$100K-125.0% | $400K |
| Net Income | N/A | -$119.9M+20.4% | -$150.6M-135.8% | $420.2M+162.8% | -$669.3M-134.4% | -$285.5M+23.3% | -$372.2M-31.9% | -$282.2M |
| EPS (Diluted) | N/A | -$3.05 | -$5.78 | $2.22 | -$4.51-142.5% | -$1.86+35.4% | -$2.88-29.1% | -$2.23 |
WOLF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0B-4.5% | $3.1B-8.6% | $3.4B-10.2% | $3.8B-44.0% | $6.9B-9.5% | $7.6B-2.2% | $7.7B-1.5% | $7.9B |
| Current Assets | $1.6B-7.0% | $1.7B-11.6% | $1.9B-13.3% | $2.2B-12.3% | $2.5B-11.4% | $2.9B+28.9% | $2.2B-9.4% | $2.5B |
| Cash & Equivalents | $576.3M-17.1% | $695.1M-32.4% | $1.0B+80.0% | $571.6M+22.3% | $467.2M-36.0% | $730.2M+18.9% | $614.0M-15.4% | $726.1M |
| Inventory | $234.2M-16.5% | $280.5M-12.4% | $320.1M-18.4% | $392.3M-9.9% | $435.4M-5.2% | $459.1M-3.8% | $477.1M+2.0% | $467.9M |
| Accounts Receivable | $98.2M+1.4% | $96.8M-10.6% | $108.3M-30.4% | $155.6M-13.0% | $178.8M+8.6% | $164.6M+7.0% | $153.9M+5.8% | $145.4M |
| Goodwill | N/A | N/A | N/A | N/A | $0-100.0% | $359.2M0.0% | $359.2M0.0% | $359.2M |
| Total Liabilities | $2.1B-2.4% | $2.1B-24.6% | $2.8B-8.5% | $3.1B-57.8% | $7.3B-0.8% | $7.4B-0.1% | $7.4B+1.9% | $7.2B |
| Current Liabilities | $231.6M-4.7% | $243.1M-18.2% | $297.1M-12.9% | $341.0M-95.2% | $7.1B+1046.3% | $618.5M-12.6% | $707.3M-9.7% | $782.9M |
| Long-Term Debt | $1.7B-1.9% | $1.7B-12.4% | $2.0B | N/A | $6.5B+0.4% | $6.5B+1.4% | $6.4B+4.1% | $6.2B |
| Total Equity | $930.2M-9.0% | $1.0B+62.8% | $627.4M-17.1% | $757.1M+269.3% | -$447.1M-310.2% | $212.7M-42.9% | $372.6M-40.8% | $628.9M |
| Retained Earnings | -$415.8M-53.7% | -$270.5M-79.6% | -$150.6M | $0+100.0% | -$4.5B-17.3% | -$3.9B-8.0% | -$3.6B-11.6% | -$3.2B |
WOLF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$54.4M+35.1% | -$83.8M-96.7% | -$42.6M-90.2% | -$22.4M+90.8% | -$242.5M-70.7% | -$142.1M+27.2% | -$195.1M-47.8% | -$132.0M |
| Capital Expenditures | $5.1M-86.5% | $37.8M+26.0% | $30.0M-71.2% | $104.0M-50.9% | $211.9M-4.0% | $220.7M-45.1% | $401.8M-8.1% | $437.0M |
| Free Cash Flow | -$59.5M+51.1% | -$121.6M-67.5% | -$72.6M+42.6% | -$126.4M+72.2% | -$454.4M-25.2% | -$362.8M+39.2% | -$596.9M-4.9% | -$569.0M |
| Investing Cash Flow | -$45.3M+78.6% | -$211.6M-126.9% | $787.6M+475.3% | $136.9M+1106.6% | -$13.6M-108.1% | $168.7M+173.3% | -$230.2M-19.3% | -$193.0M |
| Financing Cash Flow | -$18.7M+51.2% | -$38.3M+80.6% | -$197.0M-94.1% | -$101.5M-1201.3% | -$7.8M-108.7% | $89.4M-71.5% | $313.7M+6435.4% | $4.8M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
WOLF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | -26.6%+19.8pp | -46.5%-7.3pp | -39.2%-26.1pp | -13.1%-0.9pp | -12.1%+8.5pp | -20.6%-2.0pp | -18.6% |
| Operating Margin | N/A | -76.1%+17.9pp | -94.0%-12.0pp | -82.0% | -295.2% | -104.9% | -179.0% | -118.2% |
| Net Margin | N/A | -79.8%+9.6pp | -89.4% | 213.5% | -339.8% | -154.0% | -206.2% | -144.9% |
| Return on Equity | N/A | -11.7%+12.3pp | -24.0%-79.5pp | 55.5% | N/A | -134.2%-34.3pp | -99.9%-55.0pp | -44.9% |
| Return on Assets | N/A | -3.8%+0.6pp | -4.4%-15.3pp | 10.9%+20.7pp | -9.8%-6.0pp | -3.8%+1.0pp | -4.8%-1.2pp | -3.6% |
| Current Ratio | 6.86-0.2x | 7.03+0.5x | 6.500.0x | 6.54+6.2x | 0.36-4.3x | 4.64+1.5x | 3.150.0x | 3.14 |
| Debt-to-Equity | 1.81+0.1x | 1.68-1.4x | 3.13-0.9x | 4.07 | N/A | 30.61+13.4x | 17.24+7.4x | 9.81 |
| FCF Margin | N/A | -81.0%-37.9pp | -43.1%+21.1pp | -64.2% | -230.7% | -195.7% | -330.7% | -292.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$447.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Wolfspeed Inc Ranks
Frequently Asked Questions
What is Wolfspeed Inc's annual revenue?
Wolfspeed Inc (WOLF) reported $757.6M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Wolfspeed Inc profitable?
No, Wolfspeed Inc (WOLF) reported a net income of -$1.6B in fiscal year 2025.
What is Wolfspeed Inc's EBITDA?
Wolfspeed Inc (WOLF) had EBITDA of -$1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Wolfspeed Inc have?
As of fiscal year 2025, Wolfspeed Inc (WOLF) had $467.2M in cash and equivalents against $6.5B in long-term debt.
What is Wolfspeed Inc's gross margin?
Wolfspeed Inc (WOLF) had a gross margin of -16.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wolfspeed Inc's free cash flow?
Wolfspeed Inc (WOLF) recorded an outflow of $2.0B in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Wolfspeed Inc's operating cash flow?
Wolfspeed Inc (WOLF) recorded an outflow of $711.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Wolfspeed Inc's total assets?
Wolfspeed Inc (WOLF) had $6.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Wolfspeed Inc's capital expenditures?
Wolfspeed Inc (WOLF) invested $1.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Wolfspeed Inc spend on research and development?
Wolfspeed Inc (WOLF) invested $175.1M in research and development during fiscal year 2025.
What is Wolfspeed Inc's current ratio?
Wolfspeed Inc (WOLF) had a current ratio of 0.36 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Wolfspeed Inc's return on assets (ROA)?
Wolfspeed Inc (WOLF) had a return on assets of -23.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Wolfspeed Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Wolfspeed Inc (WOLF) held $955.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $711.7M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Wolfspeed Inc's debt-to-equity ratio negative or not reported?
Wolfspeed Inc (WOLF) has negative shareholder equity of -$447.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Wolfspeed Inc's Altman Z-Score?
Wolfspeed Inc (WOLF) has an Altman Z-Score of -2.14, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Wolfspeed Inc's Piotroski F-Score?
Wolfspeed Inc (WOLF) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Wolfspeed Inc's earnings high quality?
Wolfspeed Inc (WOLF) reported a net loss of $1.6B while operations used $711.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Wolfspeed Inc cover its interest payments?
Wolfspeed Inc (WOLF) reported an operating loss of $1.3B against $315.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Wolfspeed Inc?
Wolfspeed Inc (WOLF) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.