STMicroelectronics

STMicroelectronics (ST) designs and makes semiconductors. It is a Dutch company that runs its operations from Geneva, Switzerland. It sells chips for cars, factories, personal electronics, communications equipment and data centers. ST reports four segments: Analog products, MEMS and Sensors (AM&S); Power and discrete products (P&D); Embedded Processing (EMP); and RF Optical Communications (RFOC).

Net revenues were $3,757 million in Q3 2026 and $10,339 million in the first nine months of 2026. In 2025, net revenues were $11.80 billion, and its largest customer, Apple, was 17.7% of them (20-F). In 2026, ST bought NXP's MEMS sensor business for $895 million in cash. Jean-Marc Chery is President and Chief Executive Officer.

ST files a 20-F each year and furnishes its quarterly results on Form 6-K. The pick is the ordinary share on the NYSE (STM), in US dollars.

The market prices ST as a cyclical chipmaker whose profit has not yet recovered as fast as its sales. Net revenues rose 17.9% to $3,757 million in Q3 2026, and gross margin rose to 37.3% from 33.2%. But the non-U.S. GAAP operating margin was only 11.4%, the Power and discrete segment lost $81 million in the quarter, and net capex was $643 million.

ST also depends on one customer, Apple, for 17.7% of 2025 revenue. For the price to rise, ST must reach its Q4 outlook of $4.15 billion in net revenues at a gross margin of about 39.0%, keep demand above supply, and turn its data center and satellite products into steady sales. It expects data center revenue of about $1 billion in 2026 and says it could double in 2027. Its program to reshape its factories and cut its cost base must also lower costs.

The Q4 report in late January 2027 and the 2027 outlook are the next tests. If the recovery holds, the gap can close within about two years.

1. Oct 29, 2026Passed

   Q3 2026 results: net revenues against the outlookNet revenues at or above the mid-point of the outlook range pass; below fail.Outcome: Net revenues were $3,757 million, above the mid-point of the outlook range.
2. Jan 28, 2027 · est.Pending

   Q4 2026 results: net revenues and gross marginNet revenues of $4.15 billion or more and a gross margin of 39.0% or more pass; less fails.
3. Jul 2027 · est.Pending

   Q2 2027 results: operating marginA non-U.S. GAAP operating margin of 14% or more in Q2 2027 passes; less fails.

Every passed and failed checkpoint across all picks

• October 29, 2026ST reported Q3 2026 results. Net revenues were $3,757 million, up 17.9%, gross margin was 37.3%, operating income was $367 million and net income was $291 million ($0.31 per diluted share). Non-U.S. GAAP net income was $344 million ($0.37). The Q4 outlook at the mid-point is net revenues of $4.15 billion and a gross margin of about 39.0%, which gives about $14.5 billion for 2026.
• October 29, 2026Bondholders converted all $750 million of ST's convertible bonds due in 2027. ST settled them with $750 million in cash and about 4.2 million shares from treasury stock. ST paid $83 million in dividends and bought back $91 million of shares in Q3.
• June 2, 2026ST raised its revenue ambition for Data Centers to about $1 billion in 2026, from nicely above $500 million. It said that revenue could double in 2027 if the current trend continues.

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 20-FAnnual report for the period ended Dec 31, 2025Filed February 26, 2026 · stm-20251231
• 20-FAnnual report for the period ended Dec 31, 2024Filed February 27, 2025 · stm-20241231

Every filing on SEC EDGAR (CIK 932787)

• The chip cycle can turn down again. Net revenues fell 11.1% in 2025, and the operating margin was 9.8% in Q3 2026, with unused capacity charges of $23 million in the quarter. A weaker market would hurt profit again.
• One customer is large. Apple was 17.7% of net revenues in 2025, against 14.5% in 2024 and 12.3% in 2023 (20-F). A loss of sockets at Apple would hit sales.
• Spending is high and cash flow is thin. Net capex was $643 million in Q3, and free cash flow over the last 12 months was negative $40 million after the $895 million NXP MEMS purchase. Restructuring charges were $184 million in nine months.
• Power and discrete products lose money. The segment had an operating loss of $81 million in Q3 2026, with an operating margin of negative 17.1%.
• Trade policy and currency. The outlook leaves out any further change in tariffs. It assumes about $1.14 per euro and includes existing hedges, so a move in the euro changes margins.

At September 26, 2026, ST had total liquidity of $5,312 million: cash and cash equivalents of $2,612 million, short-term deposits of $1,400 million and marketable securities of $1,300 million. Total financial debt was $3,206 million, with $309 million due within a year. Read more

Yield at the current rate

0.8% (current annual rate, at today’s price)

Dividend yield

0.8% (last 12 months, at today’s price of $46.26)

Paid per share

$0.36 in the last 12 months (4 payments)

Current annual rate

$0.36 ($0.09 × 4 a year)

Latest ex-dividend date

September 22, 2026, $0.09 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 14.1% a year. From 2015 to 2025, the dividend fell by about 1.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.