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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2026
Commission File Number: 1-13546
STMicroelectronics N.V.
(Name of Registrant)
WTC Schiphol Airport
Schiphol Boulevard 265
1118 BH Schiphol Airport
The Netherlands
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F QForm 40-F ☐
Enclosure: A press release dated April 23, 2026, announcing STMicroelectronics’ 2026 First Quarter Financial Results.
1 Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
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PR No: C3392C
STMicroelectronics Reports Q1 2026 Financial Results
•Q126 net revenues at $3.10 billion
•U.S. GAAP Gross margin at 33.8%. Excluding the Purchase Price Allocation (PPA) effects from the acquisition
of NXP’s MEMS sensor business, non-U.S. GAAP1 gross margin at 34.1%
•U.S. GAAP operating income at $70 million (non-U.S. GAAP1 operating income at $171 million)
•Business outlook at mid-point: Q226 net revenues of $3.45 billion and U.S. GAAP gross margin of 34.8% (non-
U.S. GAAP1 gross margin of 35.2%)
Geneva, April 23, 2026 – STMicroelectronics N.V. (“ST”) (NYSE: STM), a global semiconductor leader serving
customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the first quarter ended
March 28, 2026. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported first quarter net revenues of $3.10 billion, gross margin of 33.8%, operating income of $70 million, and net
income of $37 million or $0.04 diluted earnings per share (non-U.S. GAAP1 gross margin of 34.1%, non-U.S. GAAP1
operating income of $171 million, and non-U.S. GAAP1 net income of $122 million or $0.13 diluted earnings per share).
Jean-Marc Chery, ST President & CEO, commented:
•“Q1 net revenues, excluding the contribution of our acquisition of NXP’s MEMS sensor business, came above
the mid-point of our business outlook range, driven mainly by higher revenues in our engaged customer
programs in Personal electronics and CECP. Gross margin was above the mid-point of our business outlook
range mainly due to better product mix.”
•“On a year-over-year basis, Q1 net revenues increased 23.0%; excluding the contribution of our acquisition of
NXP’s MEMS sensor business, they increased 21.4%. Q1 gross margin was 33.8%, operating margin was
2.3% and net income was $37 million. On a non-U.S. GAAP1 basis gross margin was 34.1%, operating margin
was 5.5% and net income was $122 million.”
•“In Q1, despite the macroeconomic uncertainty, we saw improving demand with strong booking and
normalized inventory in distribution.”
•“Our second quarter business outlook, at the mid-point, is for net revenues of $3.45 billion, increasing 11.6%
sequentially and 24.9% year-over-year. Gross margin is expected to be about 34.8%, including about 100
basis points of unused capacity charges. Non-U.S. GAAP1 gross margin is expected to be about 35.2%.”
•“ST is now strategically positioned to capture upside from new AI driven programs, leveraging specialized
technologies to enable the evolving AI infrastructure, confirming our datacenters revenue expectation to be
nicely above $500 million for 2026 and well above $1 billion for 2027.”
Quarterly Financial Summary
U.S. GAAP (US$ m, except per share data) | Q1 2026 | Q4 2025 | Q1 2025 | Q/Q | Y/Y |
Net Revenues | $3,095 | $3,329 | $2,517 | -7.0% | 23.0% |
Gross Profit | $1,045 | $1,172 | $841 | -10.9% | 24.3% |
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Gross Margin | 33.8% | 35.2% | 33.4% | -140bps | 40bps |
Operating Income | $70 | $125 | $3 | -43.8% | 2,327.6% |
Operating Margin | 2.3% | 3.8% | 0.1% | -150bps | 220bps |
Net Income (Loss) | $37 | $(30) | $56 | - | -33.7% |
Diluted Earnings Per Share | $0.04 | $(0.03) | $0.06 | - | -33.3% |
Non-U.S. GAAP1 (US$ m, except per share data) | Q1 2026 | Q4 2025 | Q1 2025 | Q/Q | Y/Y |
Gross Profit | 1,056 | 1,172 | 841 | -10.0% | 25.5% |
Gross Margin | 34.1% | 35.2% | 33.4% | -110bps | 70bps |
Operating Income | $171 | $266 | $11 | -35.7% | 1,454.5% |
Operating Margin | 5.5% | 8.0% | 0.4% | -250bps | 510bps |
Net Income | $122 | $100 | $63 | 22.0% | 93.7% |
Diluted Earnings Per Share | $0.13 | $0.11 | $0.07 | 18.2% | 85.7% |
First Quarter 2026 Summary Review
Net Revenues by Reportable Segment(US$ m)2 | Q1 2026 | Q4 2025 | Q1 2025 | Q/Q | Y/Y |
Analog products, MEMS and Sensors (AM&S) segment | 1,318 | 1,449 | 1,069 | -9.1% | 23.2% |
Power and discrete products (P&D) segment | 389 | 412 | 397 | -5.4% | -1.8% |
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group | 1,707 | 1,861 | 1,466 | -8.3% | 16.4% |
Embedded Processing (EMP) segment | 975 | 1,015 | 742 | -4.0% | 31.3% |
RF & Optical Communications (RFOC) segment | 409 | 449 | 306 | -9.0% | 33.9% |
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group | 1,384 | 1,464 | 1,048 | -5.5% | 32.1% |
Others | 4 | 4 | 3 | - | - |
Total Net Revenues | $3,095 | $3,329 | $2,517 | -7.0% | 23.0% |
Net revenues totaled $3.10 billion, representing a year-over-year increase of 23.0%. Net revenues included about $40
million revenues associated with NXP’s MEMS sensor business; excluding this contribution net revenues increased
21.4% on a year-over-year basis. Year-over-year net sales to OEMs and Distribution increased 24.5% and 19.2%,
respectively. On a sequential basis, net revenues decreased 7.0% and 8.2% excluding NXP’s MEMS sensor business
contribution, 50 basis points better than the mid-point of ST’s guidance.
Gross profit totaled $1.05 billion, representing a year-over-year increase of 24.3%. Gross margin of 33.8%, increased
40 basis points year-over-year, mainly due to lower unused capacity charges and better product mix. Gross profit included
$11 million Purchase Price Allocation (PPA) effects from the acquisition of NXP’s MEMS sensor business. Non-U.S.
GAAP1 Gross Margin, excluding this item, was 34.1%. Excluding the impact from NXP’s MEMS sensor business and
related PPA effects, gross margin stood at 33.9%, 20 basis points better than the mid-point of ST’s guidance.
Operating income increased from $3 million in the year-ago quarter to $70 million. ST’s operating margin increased on
a year-over-year basis to 2.3% of net revenues, compared to 0.1% in the first quarter of 2025. Operating income included
$71 million impairment, restructuring charges and other related phase-out costs for the quarter, mainly reflecting charges
related to the execution of the previously announced company-wide program to reshape our manufacturing footprint and
resize our global cost base and $30 million Purchase Price Allocation (PPA) effects from the acquisition of NXP’s MEMS
sensor business. Excluding these items, non-U.S. GAAP1 Operating income stood at $171 million in the first quarter (or
5.5% non-U.S. GAAP1 operating margin).
By reportable segment, compared with the year-ago quarter:
1 Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
2 Q126 Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business.
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In Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group:
Analog products, MEMS and Sensors (AM&S)2 segment:
•Revenue increased 23.2% mainly due to Imaging and MEMS and, to a lesser extent, Analog.
•Operating profit increased by 95.8% to $161 million. Operating margin was 12.2% compared to 7.7%.
Power and Discrete products (P&D) segment:
•Revenue decreased 1.8%.
•Operating result decreased from a loss of $28 million to a loss of $84 million. Operating margin was -21.5%
compared to -6.9%.
In Microcontrollers, Digital ICs and RF products (MDRF) Product Group:
Embedded Processing (EMP) segment:
•Revenue increased 31.3% due to General Purpose MCU and, to a lesser extent, Custom Processing.
•Operating profit increased by 148.7% to $164 million. Operating margin was 16.9% compared to 8.9%.
RF & Optical Communications (RFOC) segment:
•Revenue increased 33.9%.
•Operating profit increased by 43.4% to $61 million. Operating margin was 14.9% compared to 13.9%.
Net income and diluted Earnings Per Share decreased to $37 million and $0.04 respectively, compared to $56 million
and $0.06 respectively in the year-ago quarter. In the first quarter of 2026 non-U.S. GAAP1 Net income stood at $122
million and non-U.S. GAAP1 diluted Earnings Per Share stood at $0.13.
Cash Flow and Balance Sheet Highlights
Trailing 12 Months | ||||||
(US$ m) | Q1 2026 | Q4 2025 | Q1 2025 | Q1 2026 | Q1 2025 | TTM Change |
Net cash from operating activities | 534 | 674 | 574 | 2,111 | 2,680 | -21.2% |
Free cash flow (non-U.S. GAAP1) | (723)2 | 257 | 30 | (488) | 453 | - |
Net cash from operating activities was $534 million in the first quarter, including about $45 million outflow related to
restructuring, compared to $574 million in the year-ago quarter, which benefitted from a positive $147 million inflow
from net working capital.
Net Capex (non-U.S. GAAP1), was $362 million in the first quarter compared to $530 million in the year-ago quarter.
Free cash flow (non-U.S. GAAP1) was negative at $723 million in the first quarter compared to positive $30 million in the
year-ago quarter. Free cash flow included $895 million cash-out related to the payment for the acquisition of NXP’s MEMS
sensor business.
Inventory at the end of the first quarter was $3.17 billion, compared to $3.14 billion in the previous quarter and $3.01
billion in the year-ago quarter. Days sales of inventory at quarter-end was 140 days, compared to 130 days for the
previous quarter and 167 days for the year-ago quarter.
In the first quarter, ST paid cash dividends to its stockholders totaling $71 million.
ST’s net financial position (non-U.S. GAAP1) remained strong at $2.00 billion as of March 28, 2026, compared to $2.79
billion as of December 31, 2025, and reflected total liquidity of $4.57 billion and total financial debt of $2.57 billion.
Adjusted net financial position (non-U.S. GAAP1), taking into consideration the effect on total liquidity of advances from
capital grants for which capital expenditures have not been incurred yet, stood at $1.69 billion as of March 28, 2026.
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Corporate developments
On February 2, 2026, ST completed the acquisition of NXP’s MEMS sensor business. Announced in July 2025, this
transaction focused on automotive safety and non-safety products and sensors for industrial applications, expands ST’s
global sensors capabilities.
On February 9, 2026, ST announced an expanded strategic collaboration with Amazon Web Services (AWS) through a
multi-year, multi-billion USD commercial engagement to enable new high performance compute infrastructure for cloud
and AI data centers. This engagement covers a broad range of semiconductor solutions leveraging ST’s portfolio of
proprietary technologies. ST has issued warrants to AWS for up to 24.8 million ordinary shares of ST. The warrants will
vest in tranches over the term of the agreement, with vesting substantially tied to payments for ST products and services
by AWS and its affiliates.
Business Outlook
ST’s guidance, at the mid-point, for the 2026 second quarter is:
•Net revenues are expected to be $3.45 billion, an increase of 11.6% sequentially, plus or minus 350 basis points.
•U.S. GAAP Gross margin of 34.8%, plus or minus 200 basis points. Non-U.S. GAAP1 gross margin is expected to
be about 35.2%, plus or minus 200 basis points.
•This outlook is based on an assumed effective currency exchange rate of approximately $1.15 = €1.00 for the
2026 second quarter and includes the impact of existing hedging contracts.
•The second quarter will close on June 27, 2026.
This business outlook does not include any impact of potential further changes to global trade tariffs compared to the
current situation.
Conference Call and Webcast Information
ST will conduct a conference call with analysts, investors and reporters to discuss its first quarter 2026 financial results
and current business outlook today at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET). A live
webcast (listen-only mode) of the conference call will be accessible at ST’s website, https://investors.st.com, and will be
available for replay until May 8, 2026.
Use of Supplemental Non-U.S. GAAP Financial Information
This press release contains supplemental non-U.S. GAAP financial information.
Readers are cautioned that these measures are unaudited and not prepared in accordance with U.S. GAAP and should
not be considered as a substitute for U.S. GAAP financial measures. In addition, such non-U.S. GAAP financial measures
may not be comparable to similarly titled information from other companies. To compensate for these limitations, the
supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with ST’s
consolidated financial statements prepared in accordance with U.S. GAAP.
See the Appendix of this press release for a reconciliation of ST’s non-U.S. GAAP financial measures to their
corresponding U.S. GAAP financial measures.
Forward-looking Information
Some of the statements contained in this release that are not historical facts are statements of future expectations and
other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the
Securities Exchange Act of 1934, each as amended) that are based on management’s current views and assumptions,
and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those anticipated by such statements due to, among other factors:
•changes in global trade policies, including the continuation, adoption and expansion of tariffs and trade barriers and
sanctions, that are affecting and could further affect the macro-economic environment and are adversely impacting
and could further adversely impact the demand for our products;
•uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which are
impacting and may further impact production capacity and end-market demand for our products;
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•customer demand that differs from projections which may require us to undertake transformation measures that may
not be successful in realizing the expected benefits in full or at all;
•the ability to design, manufacture and sell innovative products in a rapidly changing technological environment;
•changes in economic, social, public health, labor, political, or infrastructure conditions in the locations where we, our
customers, or our suppliers operate, including as a result of macro-economic or regional events, geopolitical and
military conflicts, social unrest, labor actions, or terrorist activities;
•unanticipated events or circumstances, which may impact our ability to execute our plans and/or meet the objectives
of our research and development and manufacturing programs, which benefit from public funding;
•financial difficulties with any of our major distributors or significant curtailment of purchases by key customers;
•the loading, product mix, and manufacturing performance of our production facilities and/or our required volume to
fulfill capacity reserved with suppliers or third-party manufacturing providers;
•availability and costs of equipment, raw materials, utilities, third-party manufacturing services and technology, or other
supplies required by our operations (including increasing costs resulting from inflation);
•the functionalities and performance of our IT systems, which are subject to cybersecurity threats and which support
our critical operational activities including manufacturing, finance and sales, and any breaches of our IT systems or
those of our customers, suppliers, partners and providers of third-party licensed technology;
•theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of data
privacy legislation;
•the impact of intellectual property claims by our competitors or other third parties, and our ability to obtain required
licenses on reasonable terms and conditions;
•changes in our overall tax position as a result of changes in tax rules, new or revised legislation, the outcome of tax
audits or changes in international tax treaties which may impact our results of operations as well as our ability to
accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets;
•variations in the foreign exchange markets and, more particularly, the U.S. dollar exchange rate as compared to the
Euro and the other major currencies we use for our operations;
•the outcome of ongoing litigation as well as the impact of any new litigation to which we may become a defendant;
•product liability or warranty claims, claims based on epidemic or delivery failure, or other claims relating to our
products, or recalls by our customers for products containing our parts;
•natural events such as severe weather, earthquakes, tsunamis, volcano eruptions or other acts of nature, the effects
of climate change, health risks and epidemics or pandemics in locations where we, our customers or our suppliers
operate;
•increased regulation and initiatives in our industry, including those concerning climate change and sustainability
matters and our goal to become carbon neutral in all direct and indirect emissions (scopes 1 and 2), product
transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100%
renewable electricity sourcing goal by the end of 2027;
•epidemics or pandemics, which may negatively impact the global economy in a significant manner for an extended
period of time, and could also materially adversely affect our business and operating results;
•industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and
customers;
•the ability to successfully ramp up new programs that could be impacted by factors beyond our control, including the
availability of critical third-party components and performance of subcontractors in line with our expectations; and
•individual customer use of certain products, which may differ from the anticipated uses of such products and result in
differences in performance, including energy consumption, may lead to a failure to achieve our disclosed emission-
reduction goals, adverse legal action or additional research costs.
Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and
performance of our business to differ materially and adversely from the forward-looking statements. Certain forward-
looking statements can be identified by the use of forward-looking terminology, such as “believes”, “expects”, “may”, “are
expected to”, “should”, “would be”, “seeks” or “anticipates” or similar expressions or the negative thereof or other
variations thereof or comparable terminology, or by discussions of strategy, plans or intentions.
Some of these risk factors are set forth and are discussed in more detail in “Item 3. Key Information — Risk Factors”
included in our Annual Report on Form 20-F for the year ended December 31, 2025 as filed with the Securities and
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Exchange Commission (“SEC”) on February 26, 2026. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary materially from those described in this press
release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any industry
information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.
Unfavorable changes in the above or other factors listed under “Item 3. Key Information — Risk Factors” from time to time
in our SEC filings, could have a material adverse effect on our business and/or financial condition.
About STMicroelectronics
At ST, we are 48,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with
state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers
and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and
opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient
power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track
to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and
employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the
end of 2027. Further information can be found at www.st.com.
For further information, please contact:
INVESTOR RELATIONS:
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41 22 929 59 20
jerome.ramel@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
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Appendix
ST Supplemental Financial Information
Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | |
Net Revenues By Market Channel (%) | |||||
Total OEM | 72% | 73% | 73% | 72% | 71% |
Distribution | 28% | 27% | 27% | 28% | 29% |
€/$ Effective Rate | 1.16 | 1.14 | 1.14 | 1.09 | 1.06 |
Reportable Segment Data (US$ m) | |||||
Analog products, MEMS and Sensors (AM&S) segment | |||||
- Net Revenues | 1,318 | 1,449 | 1,434 | 1,133 | 1,069 |
- Operating Income | 161 | 235 | 221 | 85 | 82 |
Power and Discrete products (P&D) segment | |||||
- Net Revenues | 389 | 412 | 429 | 447 | 397 |
- Operating Income (Loss) | (84) | (124) | (67) | (56) | (28) |
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group | |||||
- Net Revenues | 1,707 | 1,861 | 1,863 | 1,580 | 1,466 |
- Operating Income | 77 | 111 | 154 | 29 | 54 |
Embedded Processing (EMP) segment | |||||
- Net Revenues | 975 | 1,015 | 976 | 847 | 742 |
- Operating Income | 164 | 195 | 161 | 114 | 66 |
RF & Optical Communications (RFOC) segment | |||||
- Net Revenues | 409 | 449 | 345 | 336 | 306 |
- Operating Income | 61 | 105 | 57 | 60 | 43 |
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group | |||||
- Net Revenues | 1,384 | 1,464 | 1,321 | 1,183 | 1,048 |
- Operating Income | 226 | 300 | 218 | 174 | 109 |
Others (a) | |||||
- Net Revenues | 4 | 4 | 3 | 3 | 3 |
- Operating Income (Loss) | (232) | (286) | (192) | (336) | (160) |
Total | |||||
- Net Revenues | 3,095 | 3,329 | 3,187 | 2,766 | 2,517 |
- Operating Income (Loss) | 70 | 125 | 180 | (133) | 3 |
(a)Net revenues of Others include revenues from sales assembly services and other revenues. Operating income (loss) of Others include items such as
unused capacity charges, including incidents leading to power outage, impairment, restructuring charges and other related phase-out costs,
management reorganization costs, start-up costs, and other unallocated income (expenses) such as: strategic or special research and development
programs, certain corporate-level operating expenses, patent claims and litigations, and other costs that are not allocated to reportable segments,
operating earnings of other products as well as Purchase Price Allocation (PPA) effects from the acquisition of NXP’s MEMS sensor business. With
additional cost elements included in the table below:
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(Appendix – continued)
ST Supplemental Non-U.S. GAAP Financial Information
U.S. GAAP – Non-U.S. GAAP Reconciliation
The supplemental non-U.S. GAAP information presented in this press release is unaudited and subject to inherent
limitations. Such non-U.S. GAAP information is not based on any comprehensive set of accounting rules or principles and
should not be considered as a substitute for U.S. GAAP measures. Also, our supplemental non-U.S. GAAP financial
information may not be comparable to similarly titled non-U.S. GAAP measures used by other companies. Further,
specific limitations for individual non-U.S. GAAP measures, and the reasons for presenting non-U.S. GAAP financial
information, are set forth in the paragraphs below. To compensate for these limitations, the supplemental non-U.S. GAAP
financial information should not be read in isolation, but only in conjunction with our consolidated financial statements
prepared in accordance with U.S. GAAP.
ST believes that these non-U.S. GAAP financial measures provide useful information for investors and management
because they offer, when read in conjunction with ST’s U.S. GAAP financials, (i) the ability to make more meaningful
period-to-period comparisons of ST’s on-going operating results, (ii) the ability to better identify trends in ST’s business
and perform related trend analysis, and (iii) to facilitate a comparison of ST’s results of operations against investor and
analyst financial models and valuations, which may exclude these items.
Non-U.S. GAAP Gross Profit, Non-U.S. GAAP Operating Income, Non-U.S. GAAP Net Income and Non-U.S. GAAP
Diluted Earnings Per Share (non-U.S. GAAP measures)
Operating income before impairment, restructuring charges and other related phase-out costs, and other certain items, is
used by management to help enhance an understanding of ongoing operations and to communicate the impact of the
excluded items, such as impairment, restructuring charges and other related phase-out costs, and Purchase Price
Allocation (PPA) effects. Adjusted net earnings and earnings per share (EPS) are used by management to help enhance
an understanding of ongoing operations and to communicate the impact of the excluded items like impairment,
restructuring charges and other related phase-out costs and other certain items, such as Purchase Price Allocation (PPA)
effects, net of the relevant tax impact.
Q1 2026 (US$ m, except per share data) | Gross Profit | Operating Income | Net Income | Corresponding Diluted EPS |
U.S. GAAP | 1,045 | 70 | 37 | 0.04 |
Impairment, restructuring charges and other related phase-out costs | - | 71 | 71 | |
PPA effects of NXP’s MEMS sensor business acquisition | 11 | 30 | 30 | |
Estimated income tax effect | - | - | (16) | |
Non-U.S. GAAP | 1,056 | 171 | 122 | 0.13 |
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(Appendix – continued)
Net Financial Position and Adjusted Net Financial Position (non-U.S. GAAP measures)
Net Financial Position, a non-U.S. GAAP measure, represents the difference between our total liquidity and our total
financial debt. Our total liquidity includes cash and cash equivalents, restricted cash, if any, short-term deposits, and
marketable securities, and our total financial debt includes short-term debt and long-term debt, as reported in our
Consolidated Balance Sheets. ST also presents adjusted net financial position as a non-U.S. GAAP measure, to take into
consideration the effect on total liquidity of advances received on capital grants for which capital expenditures have not
been incurred yet.
ST believes its Net Financial Position and Adjusted Net Financial Position provide useful information for investors and
management because they give evidence of our global position either in terms of net indebtedness or net cash by
measuring our capital resources based on cash and cash equivalents, restricted cash, if any, short-term deposits and
marketable securities and the total level of our financial debt. Our definitions of Net Financial Position and Adjusted Net
Financial Position may differ from definitions used by other companies, and therefore, comparability may be limited.
(US$ m) | Mar 28 2026 | Dec 31 2025 | Sep 27 2025 | Jun 28 2025 | Mar 29 2025 |
Cash and cash equivalents | 1,889 | 2,837 | 1,999 | 1,616 | 1,781 |
Short term deposits | 1,850 | 1,100 | 1,450 | 1,650 | 1,650 |
Marketable securities | 832 | 985 | 1,327 | 2,363 | 2,528 |
Total liquidity (a) | 4,571 | 4,922 | 4,776 | 5,629 | 5,959 |
Short-term debt | (319) | (298) | (256) | (1,006) | (988) |
Long-term debt (b) | (2,250) | (1,835) | (1,910) | (1,951) | (1,889) |
Total financial debt | (2,569) | (2,133) | (2,166) | (2,957) | (2,877) |
Net Financial Position (non-U.S. GAAP) | 2,002 | 2,789 | 2,610 | 2,672 | 3,082 |
Advances received on capital grants | (316) | (333) | (345) | (361) | (377) |
Adjusted Net Financial Position (non-U.S. GAAP) | 1,686 | 2,456 | 2,265 | 2,311 | 2,705 |
(a)Total liquidity decreased from $4.92 billion in the fourth quarter of 2025 to $4.57 billion in the first quarter of 2026, after the cash-out of $895 million
related to the acquisition of NXP MEMS sensor business. Total liquidity decreased from $5.63 billion in the second quarter of 2025 to $4.78 billion
in the third quarter of 2025, the decrease includes $750 million related to the repayment of the first tranche of our convertible bond.
(b)Long-term debt contains standard conditions but does not impose minimum financial ratios. Committed credit facilities for $1,210 million equivalent
are currently undrawn. As of March 28, 2026, total financial debt included $590 million long-term debt following the withdrawal of the €500 million
first tranche of the new EIB credit line.
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(Appendix – continued)
Net Capex and Free Cash Flow (non-U.S. GAAP measures)
ST presents Net Capex as a non-U.S. GAAP measure, which is reported as part of our Free Cash Flow (non-U.S. GAAP
measure), to take into consideration the effect of advances from capital grants received on prior periods allocated to
property, plant and equipment in the reporting period.
Net Capex, a non-U.S. GAAP measure, is defined as (i) Payment for purchase of tangible assets, as reported plus (ii)
Proceeds from sale of tangible assets, as reported plus (iii) Proceeds from capital grants and other contributions, as
reported plus (iv) Advances from capital grants allocated to property, plant and equipment in the reporting period.
ST believes Net Capex provides useful information for investors and management because annual capital expenditures
budget includes the effect of capital grants. Our definition of Net Capex may differ from definitions used by other
companies.
(US$ m) | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
Payment for purchase of tangible assets, as reported | (549) | (518) | (431) | (574) | (587) |
Proceeds from sale of tangible assets, as reported | 3 | - | 3 | 4 | 2 |
Proceeds from capital grants and other contributions, as reported | 167 | 111 | 11 | 89 | 47 |
Advances from capital grants allocated to property, plant and equipment | 17 | 12 | 16 | 16 | 8 |
Net Capex (non-U.S. GAAP) | (362) | (395) | (401) | (465) | (530) |
Free Cash Flow, which is a non-U.S. GAAP measure, is defined as (i) net cash from operating activities plus (ii) Net
Capex plus (iii) payment for purchase (and proceeds from sale) of intangible and financial assets and (iv) net cash paid
for business acquisitions, if any.
ST believes Free Cash Flow provides useful information for investors and management because it measures our capacity
to generate cash from our operating and investing activities to sustain our operations.
Free Cash Flow reconciles with the total cash flow and the net cash increase (decrease) by including the payment for
purchases of (and proceeds from matured) marketable securities and net investment in (and proceeds from) short-term
deposits, the net cash from (used in) financing activities and the effect of changes in exchange rates, and by excluding the
advances from capital grants received on prior periods allocated to property, plant and equipment in the reporting period.
Our definition of Free Cash Flow may differ from definitions used by other companies.
(US$ m) | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
Net cash from operating activities | 534 | 674 | 549 | 354 | 574 |
Net Capex | (362) | (395) | (401) | (465) | (530) |
Payment for purchase of intangible assets, net of proceeds from sale | (17) | (20) | (18) | (41) | (14) |
Proceeds from (payment for) financial assets | 17 | (2) | - | - | - |
Payment for business acquisitions(a) | (895) | - | - | - | - |
Free Cash Flow (non-U.S. GAAP) | (723) | 257 | 130 | (152) | 30 |
(a)Q126 Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business.
15
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
STMicroelectronics N.V. | |||
Date: | April 23, 2026 | By: | /s/ Lorenzo Grandi |
Name: | Lorenzo Grandi | ||
Title: | President and Chief Financial Officer |