Tower Semiconductor Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,566	1,436	1,423	1,678	1,508
Revenue Growth (YoY)	9.05%	0.95%	-15.20%	11.24%	19.16%
Cost of Revenue	1,202	1,097	1,069	1,211	1,179
Gross Profit	363.85	339.44	353.52	466.31	329.12
Selling, General & Admin	83.19	74.96	72.45	80.28	77.22
Research & Development	86.5	79.43	79.81	83.91	85.39
Operating Expenses	169.68	154.4	152.26	164.19	162.61
Operating Income	194.17	185.04	201.26	302.12	166.51
Interest Expense	-	-4.03	-5.08	-6.46	-9.09
Interest & Investment Income	-	55.49	39.99	13.6	5.37
Currency Exchange Gain (Loss)	-	-3.4	-1.01	-3.99	-7.09
Other Non Operating Income (Expenses)	46.21	-27.55	0.74	-13.63	-0.6
EBT Excluding Unusual Items	240.38	205.55	235.89	291.64	155.1
Merger & Restructuring Charges	-	6.27	32.51	9.56	-
Gain (Loss) on Sale of Investments	-	5.61	2.94	-9.23	-
Other Unusual Items	-	-	313.5	-	-
Pretax Income	240.38	217.43	584.84	291.97	155.1
Income Tax Expense	21.57	10.21	65.31	25.5	1.02
Earnings From Continuing Operations	218.81	207.22	519.53	266.47	154.08
Minority Interest in Earnings	1.66	0.64	-1.04	-1.9	-4.06
Net Income	220.47	207.86	518.49	264.57	150.01
Net Income to Common	220.47	207.86	518.49	264.57	150.01
Net Income Growth	6.07%	-59.91%	95.98%	76.37%	82.27%
Shares Outstanding (Basic)	112	111	110	109	108
Shares Outstanding (Diluted)	114	112	111	111	110
Shares Change (YoY)	1.12%	1.01%	0.42%	0.87%	1.21%
EPS (Basic)	1.97	1.87	4.70	2.42	1.39
EPS (Diluted)	1.94	1.85	4.66	2.39	1.37
EPS Growth	4.87%	-60.30%	94.98%	74.45%	80.26%
Free Cash Flow	-41.08	12.53	232.06	163.42	107.49
Free Cash Flow Per Share	-0.36	0.11	2.09	1.48	0.98
Gross Margin	23.23%	23.64%	24.85%	27.80%	21.82%
Operating Margin	12.40%	12.88%	14.15%	18.01%	11.04%
Profit Margin	14.08%	14.47%	36.45%	15.77%	9.95%
Free Cash Flow Margin	-2.62%	0.87%	16.31%	9.74%	7.13%
EBITDA	497.28	451.32	459.28	594.75	437.22
EBITDA Margin	31.75%	31.43%	32.28%	35.45%	28.99%
D&A For EBITDA	303.11	266.28	258.02	292.64	270.71
EBIT	194.17	185.04	201.26	302.12	166.51
EBIT Margin	12.40%	12.88%	14.15%	18.01%	11.04%
Effective Tax Rate	8.97%	4.69%	11.17%	8.73%	0.66%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.