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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and SEMTECH CORP (SMTC). Click either name above to swap in a different company.
SEMTECH CORP is the larger business by last-quarter revenue ($267.0M vs $159.9M, roughly 1.7× INSTEEL INDUSTRIES INC). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs -1.1%, a 5.8% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 12.7%). SEMTECH CORP produced more free cash flow last quarter ($44.6M vs $-2.2M). Over the past eight quarters, SEMTECH CORP's revenue compounded faster (17.6% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
Semtech Corporation is an American supplier of analog and mixed-signal semiconductors and advanced algorithms for consumer, enterprise computing, communications and industrial end-markets. It is based in Camarillo, Ventura County, Southern California. It was founded in 1960 in Newbury Park, California. It has 32 locations in 15 countries in North America, Europe, and Asia.
IIIN vs SMTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $267.0M |
| Net Profit | $7.6M | $-2.9M |
| Gross Margin | 11.3% | 51.9% |
| Operating Margin | 6.0% | 11.6% |
| Net Margin | 4.7% | -1.1% |
| Revenue YoY | 23.3% | 12.7% |
| Net Profit YoY | 602.4% | 62.3% |
| EPS (diluted) | $0.39 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $159.9M | $267.0M | ||
| Q3 25 | $177.4M | $257.6M | ||
| Q2 25 | $179.9M | $251.1M | ||
| Q1 25 | $160.7M | $251.0M | ||
| Q4 24 | $129.7M | $236.8M | ||
| Q3 24 | $134.3M | $215.4M | ||
| Q2 24 | $145.8M | $206.1M | ||
| Q1 24 | $127.4M | $192.9M |
| Q4 25 | $7.6M | $-2.9M | ||
| Q3 25 | $14.6M | $-27.1M | ||
| Q2 25 | $15.2M | $19.3M | ||
| Q1 25 | $10.2M | $39.1M | ||
| Q4 24 | $1.1M | $-7.6M | ||
| Q3 24 | $4.7M | $-170.3M | ||
| Q2 24 | $6.6M | $-23.2M | ||
| Q1 24 | $6.9M | $-642.4M |
| Q4 25 | 11.3% | 51.9% | ||
| Q3 25 | 16.1% | 52.1% | ||
| Q2 25 | 17.1% | 52.3% | ||
| Q1 25 | 15.3% | 52.0% | ||
| Q4 24 | 7.3% | 51.1% | ||
| Q3 24 | 9.1% | 49.0% | ||
| Q2 24 | 10.6% | 48.3% | ||
| Q1 24 | 12.3% | -0.2% |
| Q4 25 | 6.0% | 11.6% | ||
| Q3 25 | 10.8% | -6.3% | ||
| Q2 25 | 11.0% | 14.3% | ||
| Q1 25 | 8.3% | 8.5% | ||
| Q4 24 | 1.1% | 7.5% | ||
| Q3 24 | 4.5% | 3.6% | ||
| Q2 24 | 6.0% | 1.5% | ||
| Q1 24 | 7.0% | -321.3% |
| Q4 25 | 4.7% | -1.1% | ||
| Q3 25 | 8.2% | -10.5% | ||
| Q2 25 | 8.4% | 7.7% | ||
| Q1 25 | 6.4% | 15.6% | ||
| Q4 24 | 0.8% | -3.2% | ||
| Q3 24 | 3.5% | -79.1% | ||
| Q2 24 | 4.5% | -11.2% | ||
| Q1 24 | 5.4% | -332.9% |
| Q4 25 | $0.39 | $-0.03 | ||
| Q3 25 | $0.74 | $-0.31 | ||
| Q2 25 | $0.78 | $0.22 | ||
| Q1 25 | $0.52 | $0.81 | ||
| Q4 24 | $0.06 | $-0.10 | ||
| Q3 24 | $0.24 | $-2.61 | ||
| Q2 24 | $0.34 | $-0.36 | ||
| Q1 24 | $0.35 | $-10.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.6M | $164.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $358.8M | $565.7M |
| Total Assets | $456.1M | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $164.7M | ||
| Q3 25 | $38.6M | $168.6M | ||
| Q2 25 | $53.7M | $156.5M | ||
| Q1 25 | $28.4M | $151.7M | ||
| Q4 24 | $36.0M | $136.5M | ||
| Q3 24 | $111.5M | $115.9M | ||
| Q2 24 | $97.7M | $126.8M | ||
| Q1 24 | $83.9M | $128.6M |
| Q4 25 | $358.8M | $565.7M | ||
| Q3 25 | $371.5M | $552.9M | ||
| Q2 25 | $356.2M | $568.8M | ||
| Q1 25 | $341.4M | $542.4M | ||
| Q4 24 | $331.6M | $-139.7M | ||
| Q3 24 | $350.9M | $-141.4M | ||
| Q2 24 | $346.0M | $-313.1M | ||
| Q1 24 | $340.6M | $-307.4M |
| Q4 25 | $456.1M | $1.4B | ||
| Q3 25 | $462.6M | $1.4B | ||
| Q2 25 | $471.9M | $1.4B | ||
| Q1 25 | $421.9M | $1.4B | ||
| Q4 24 | $404.7M | $1.4B | ||
| Q3 24 | $422.6M | $1.4B | ||
| Q2 24 | $414.6M | $1.4B | ||
| Q1 24 | $397.2M | $1.4B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-701.0K | $47.5M |
| Free Cash FlowOCF − Capex | $-2.2M | $44.6M |
| FCF MarginFCF / Revenue | -1.4% | 16.7% |
| Capex IntensityCapex / Revenue | 0.9% | 1.1% |
| Cash ConversionOCF / Net Profit | -0.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $143.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $47.5M | ||
| Q3 25 | $-17.0M | $44.4M | ||
| Q2 25 | $28.5M | $27.8M | ||
| Q1 25 | $-3.3M | $33.5M | ||
| Q4 24 | $19.0M | $29.6M | ||
| Q3 24 | $16.2M | $-5.0M | ||
| Q2 24 | $18.8M | $-89.0K | ||
| Q1 24 | $1.4M | $13.9M |
| Q4 25 | $-2.2M | $44.6M | ||
| Q3 25 | $-18.7M | $41.5M | ||
| Q2 25 | $26.9M | $26.2M | ||
| Q1 25 | $-5.5M | $30.9M | ||
| Q4 24 | $16.3M | $29.1M | ||
| Q3 24 | $14.5M | $-8.4M | ||
| Q2 24 | $15.5M | $-1.4M | ||
| Q1 24 | $-580.0K | $12.2M |
| Q4 25 | -1.4% | 16.7% | ||
| Q3 25 | -10.6% | 16.1% | ||
| Q2 25 | 15.0% | 10.4% | ||
| Q1 25 | -3.5% | 12.3% | ||
| Q4 24 | 12.6% | 12.3% | ||
| Q3 24 | 10.8% | -3.9% | ||
| Q2 24 | 10.7% | -0.7% | ||
| Q1 24 | -0.5% | 6.3% |
| Q4 25 | 0.9% | 1.1% | ||
| Q3 25 | 1.0% | 1.1% | ||
| Q2 25 | 0.9% | 0.7% | ||
| Q1 25 | 1.4% | 1.0% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 1.3% | 1.6% | ||
| Q2 24 | 2.2% | 0.6% | ||
| Q1 24 | 1.5% | 0.9% |
| Q4 25 | -0.09× | — | ||
| Q3 25 | -1.17× | — | ||
| Q2 25 | 1.88× | 1.44× | ||
| Q1 25 | -0.32× | 0.86× | ||
| Q4 24 | 17.56× | — | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
SMTC
| Products | $239.5M | 90% |
| Services | $27.4M | 10% |
