Lattice Semiconductor Corp (NASDAQ: LSCC)

Sector: Technology Industry: Semiconductors CIK: 0000855658
Market Cap 15.03 Bn
P/B 21.06
P/E 4,875.00
P/S 28.73
ROIC (Qtr) -9.21
Div Yield % 0.00
Rev 1y % (Qtr) 24.16
Total Debt (Qtr) 36.13 Mn
Debt/Equity (Qtr) 0.05
Add ratio to table...

About

Lattice Semiconductor Corporation (LSCC) is a significant player in the fabless semiconductor industry, specializing in the development and production of programmable logic semiconductor products, system solutions, design services, and licenses. The company is recognized as a low power programmable leader, offering solutions that empower customers to build a smart, secure, and interconnected world. LSCC's operations span various industries, including communications, computing, industrial, automotive, and consumer markets, with a global presence...

Read more

Investment thesis

Bull case

  • Strong operating cash flow of 175.11M provides robust 4.85x coverage of total debt 36.13M, indicating excellent debt servicing capability and financial flexibility.
  • Strong tangible asset base of 563.62M provides 15.60x coverage of total debt 36.13M, indicating robust asset backing and low credit risk.
  • Robust free cash flow of 112.80M exceeds capital expenditure of 62.31M by 1.81x, indicating strong organic growth funding capability.
  • Retained earnings of 212.18M provide full 5.87x coverage of long-term debt 36.13M, indicating strong internal capital position.
  • Operating cash flow of 175.11M fully covers other non-current liabilities 15.27M by 11.47x, showing strong long-term stability.

Bear case

  • Operating cash flow of 175.11M barely covers its investment activities of (62.31M), with a coverage ratio of -2.81, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (62.31M) provide weak support for R&D spending of 187.98M, which is -0.33x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of 175.11M shows concerning coverage of stock compensation expenses of 115.61M, with a 1.51 ratio indicating potential earnings quality issues.
  • Operating earnings of 10.48M show weak coverage of depreciation charges of 42.31M, with a 0.25 ratio indicating high capital intensity and potential reinvestment needs.
  • Retained earnings of 212.18M provide limited buffer against comprehensive income items of (3.14M), which is -67.51x, indicating elevated exposure to market risks.

Geographical Breakdown of Revenue (2026)

Product and Service Breakdown of Revenue (2026)

Peer comparison

Companies in the Semiconductors
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NVDA Nvidia Corp 4,081.81 Bn 2,078.31 541.21 10.48 Bn
2 TSM Taiwan Semiconductor Manufacturing Co Ltd 1,887.11 Bn 425.89 133.83 31.18 Bn
3 AVGO Broadcom Inc. 1,662.70 Bn -332,540.00 1,106.25 65.14 Bn
4 MU Micron Technology Inc 426.40 Bn 109.53 25.16 12.43 Bn
5 AMD Advanced Micro Devices Inc 329.72 Bn 76.06 9.52 3.85 Bn
6 TXN Texas Instruments Inc 224.64 Bn 55.45 14.64 14.05 Bn
7 INTC Intel Corp 205.50 Bn -769.67 3.89 46.59 Bn
8 QCOM Qualcomm Inc/De 153.04 Bn 28.53 3.41 14.82 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 16.91 4.34
EV to Cash from Ops. EV/CFO 85.27 -208.66
EV to Debt EV to Debt 413.30 79.86
EV to EBIT EV/EBIT 1,424.59 709.44
EV to EBITDA EV/EBITDA 278.84 250.41
EV to Free Cash Flow [EV/FCF] EV/FCF 132.37 403.96
EV to Market Cap EV to Market Cap 0.99 0.75
EV to Revenue EV/Rev 28.53 61.40
Price to Book Value [P/B] P/B 21.06 52.11
Price to Earnings [P/E] P/E 4,875.00 -5,067.15
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.41
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -3.82
Dividend per Basic Share Div per Share (Qtr) 0.00 0.63
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 20.71
Interest Coverage Int. cover (Qtr) -3.62 8.87
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -65.30 -164.54
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -1.76 64.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.42
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -95.56 60.52
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -33.67 86.38
EBIT Growth (1y) % EBIT 1y % (Qtr) -67.53 52.71
EBT Growth (1y) % EBT 1y % (Qtr) -63.08 57.92
EPS Growth (1y) % EPS 1y % (Qtr) -95.45 65.33
FCF Growth (1y) % FCF 1y % (Qtr) 9.32 109.17
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 4.86 27.07
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.59 0.50
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.09
Cash Ratio Cash Ratio (Qtr) 1.14 2.55
Current Ratio Curr Ratio (Qtr) 3.09 5.58
Debt to Equity Ratio Debt/Equity (Qtr) 0.05 0.30
Interest Cover Ratio Int Coverage (Qtr) -3.62 8.87
Times Interest Earned Times Interest Earned (Qtr) -3.62 8.87
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 10.10 -115.40
EBIT Margin % EBIT Margin % (Qtr) 2.00 -94.51
EBT Margin % EBT Margin % (Qtr) 2.56 -136.09
Gross Margin % Gross Margin % (Qtr) 68.20 47.45
Net Profit Margin % Net Margin % (Qtr) 0.60 -137.24