Forensic Analysis · Technology / Software · as of Jun 27, 2026
SITIME Corp (SITM)
A forensic read on SITIME Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
12.2
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-2.1%
ROE
$17.7B
Market cap
SITIME Corp earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 12.2, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+49.2%Accruals ratio. Net operating assets grew +49.2% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -14% of net operating assets.
-4%Return on invested capital. Return on invested capital is -4% and slipping from 2% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+3.4%/yrShare-count dilution. Diluted share count changed +10% over the last 3 years to FY2025 (+3.4%/yr). The count is GROWING — existing holders are being diluted. That's ~3.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~10%.
32% of revStock-based comp load. Stock-based compensation ran 32% of revenue and 295% of free cash flow in FY2025 — about $4.15 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin-13.1%
Debt / Equity0.04x
Free Cash Flow$35.1M
Latest Revenue$326.7M
Return on Equity-3.7%
Revenue Growth YoY+61.2%
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🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown
🔒Peer comparison + filing-change monitoring & alerts
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Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.