Skyworks dividend: payout and cash coverage
MyStockButler's October 2026 analysis: Skyworks stopped regular quarterly dividends in July, so it currently pays no regular quarterly dividend. Cash coverage was uneven: in fiscal 2025, dividends and repurchases exceeded free cash flow, and in the July 2026 quarter free cash flow was negative.
How much does Skyworks pay in dividends over time?
Shareholder distributions were less dependable. In fiscal 2022, dividends and buybacks exceeded free cash flow. In fiscal 2025, dividends and repurchases again exceeded free cash flow, so cash fell. A one-year excess can come from existing cash, borrowing, asset sales or a temporary release of inventory and receivables. It cannot serve as a permanently repeatable payout policy without continued operating strength.
In July 2026, the board stopped regular quarterly dividends and replaced the prior repurchase authorization with a new $2 billion program. An authorization permits purchases but does not require them. The change therefore replaced a regular cash payment with greater discretion over buybacks, debt reduction and acquisitions. Debt reduction worked clearly; the returns from buybacks and acquisitions remain harder to establish. That leaves the biggest strategic test: whether diversification produces durable operating profits.
| Oct 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Oct 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 3.08 | 3.69 | 6.13 | 7.81 | 8.97 |
| Free cash flow per share | 7.13 | 10.33 | 10.27 | 5.73 | 6.79 |
| − Dividends paid, per share | 2.79 | 2.72 | 2.53 | 2.28 | 2.04 |
| − Share buybacks, per share | 5.35 | 0.48 | 1.09 | 5.43 | 1.17 |
| = Paid out more than FCF, per share | 1.01 | 1.99 |
What this means. The company's own free cash flow per share is higher because it does not subtract shares given to employees as pay, while our count does.
How much would Skyworks's dividend pay you?
$10,000 invested in Skyworks at its 3.4% dividend yield (our report of October 24, 2026) pays $340.00 in the first year, before tax. If its dividend per share keeps changing 8.1% a year, as it did from Oct 2021 to Oct 2025, and the dividends are reinvested, year 10 pays $1,043.47, with $6,215.98 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does Skyworks’ dividend come from free cash flow?
Recent inventory movement shows why annual cash flow can mislead. Inventory rose from $754.7 million in October 2025 to $1,015.5 million in July 2026. In that July quarter, operations generated $70.4 million while capital spending required $87.1 million, producing negative free cash flow.
| Oct 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Oct 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,105.8 | 1,667.7 | 1,646.1 | 935.2 | 1,134.2 |
| − Dividends paid | 432.6 | 439.1 | 405.2 | 373.1 | 340.6 |
| − Share buybacks | 830.2 | 77.3 | 175.3 | 886.8 | 195.6 |
| = Free cash flow not paid out | 1,151.3 | 1,065.6 | 598.0 | ||
| = Paid out more than the free cash flow | 157.0 | 324.7 | |||
| Paid out, % of free cash flow | 114.2% | 31.0% | 35.3% | 134.7% | 47.3% |
What could change Skyworks’ dividend?
Dividends are zero in every case and every period. The board explicitly ended quarterly declarations, and no restart date exists.
What is Skyworks’ dividend yield at today’s price?
P/E means the share price divided by the profit assigned to one share. Skyworks’ trailing P/E is 43.2x, implying about $1.93 of earnings per share over the last twelve months; its forward P/E is 16.6x, implying about $5.03 over the next twelve months. That gap is an expectation, not proven growth, because the periods and accounting adjustments may differ. The investment works only if the enlarged company produces roughly that higher figure consistently.
| Today (Oct 24, 2026) | |
|---|---|
| Share price | 83.43 |
| P/E, last 12 months (calculated) | 43.2x |
| P/E, next 12 months (calculated) | 16.6x |
| Price to book (calculated) | 2.2x |
| Dividend yield (calculated) | 3.4% |
What this means. The dividend yield looks like income you will receive, but the company stopped paying dividends on July 28, 2026, so it is based only on the last payment and is not a promise of future payments.