Is the business good?
How good a business is WOLF?
Wolfspeed, Inc. earns −28% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−28%
Return on invested capital · cost of capital 9.0% · 37 points below what the capital costs: growth destroys value
- Operating margin
- −83%
Operating margin · Semiconductors median 8.5% · 12 months to Q4 2026
- R&D as % of revenue
- 17%
R&D as % of revenue
- Gross margin
- −35%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | −60% |
| FY2022 | −36% |
| FY2023 | −41% |
| FY2024 | −55% |
| FY2025 | −175% |
| FY2026 | −83% |
Details›
- Gross margin12 months to Q4 2026
- −35%
- Operating margin12 months to Q4 2026
- −83%
- Net margin12 months to Q4 2026
- 0.66%
- Free cash flow margin
- −57%
- R&D as % of revenue
- 17%
- Revenue, trailing twelve months
- $665M
- Free cash flow, trailing twelve months
- −$380M
- Net income, trailing twelve months
- $4.4M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −28%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.