SITMSITIME Corp

Semiconductors & Related Devices

Revenue: $327M; 61% YoY
Operating margin: -20.5%; 64% YoY
EBITDA: −$27M; 69% YoY
Market cap: $11.9B
Employees: 239; $1M revenue each
Net debt / EBITDA: —
AI in 10-K: 3.9; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 1 of 7

TSR below peersNo
1 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
$11M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCYes
32% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
3% of assets
Over 40% of assets
Shareholder dissentNo
82% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$1M · 87th pct
Bottom quartile of its SIC industry
Quiet on AINo
3.9 per 10K words · 77th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$11.9B market cap
Market cap $500M–$5B

Catalysts 2 of 2

Active 13DYes
1 filing
Active-intent 13D in 18 months
Net insider sellingYes
−$502M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$219M	$284M	$144M	$203M	$327M	61%
Operating income	$33M	$16M	−$107M	−$115M	−$67M	42%
Net income	$32M	$23M	−$81M	−$94M	−$43M	54%
Operating cash flow	$59M	$40M	$8M	$23M	$87M	276%
Capex	$31M	$32M	$9M	$36M	$52M	44%
Stock-based comp	$30M	$57M	$77M	$93M	$104M	12%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Jul 9, 2026	Renesas Electronics America Inc.	SCHEDULE 13D	11.9%	Active

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $502M · 51
Net: −$502M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$14M	$57M	316	253
FY2024	$13M	$48M	192	178
FY2023	$11M	$14M	109	149
FY2022	$10M	−$89M	91	91
FY2021	$11M	$113M	261	141