- Q4 FY 2025: Revenue €3.943 billion, Segment Result €717 million, Segment Result Margin 18.2 percent
- FY 2025: Revenue €14.662 billion, down 2 percent on the prior year; Segment Result €2.560 billion; Segment Result Margin 17.5 percent; adjusted earnings per share €1.39; negative Free Cash Flow of €1.051 billion as a result of the acquisition of Marvell’s Automotive Ethernet business; positive Adjusted Free Cash Flow of €1.803 billion
- Outlook for Q1 FY 2026: Based on an assumed exchange rate of US$1.15 to the euro, revenue of around €3.6 billion expected. On this basis, Segment Result Margin forecast to be in the mid-to-high-teens percentage range
- Outlook for FY 2026: Based on an assumed exchange rate of US$1.15 to the euro, moderate revenue growth is expected compared with the prior year despite an adverse currency impact. Adjusted gross margin expected to be in the low-forties percentage range and Segment Result Margin in the high-teens percentage range. Investments of approximately €2.2 billion planned. Free Cash Flow adjusted for investments in frontend buildings should be around €1.6 billion while Free Cash Flow should reach around €1.1 billion
Neubiberg, 12 November 2025 – Today, Infineon Technologies AG is reporting results for the fourth quarter and the full fiscal year, both of which ended on 30 September 2025.
"Infineon has met expectations in the 2025 fiscal year despite challenging macroeconomic and geopolitical conditions. Our results underline the resilience of our business model," says Jochen Hanebeck, CEO of Infineon. "In the 2026 fiscal year we are expecting moderate growth in a still mixed market environment. Growth momentum in the automotive, industrial and consumer markets remains modest. Many customers are proceeding cautiously and placing short-term orders. On the other hand, global investment in AI infrastructure is continuing to rise rapidly and we expect considerable growth in demand for our leading power supply solutions for AI data centers. We are significantly increasing our target and expect to generate revenue of around €1.5 billion in this area in the 2026 fiscal year. By the end of the decade, Infineon’s addressable market will reach €8 to €12 billion. Decisive success factors for us in this market are our innovative strength, development speed, manufacturing excellence and our broad customer base."
| Euro in millions |
Q4 FY25 |
Q3 FY25 |
+/- in % |
| |
|
|
|
| Revenue |
3,943 |
3,704 |
6 |
| Gross margin (in %) |
38.1% |
40.9% |
|
| Adjusted gross margin1 (in %) |
40.7% |
43.0% |
|
| Segment Result |
717 |
668 |
7 |
| Segment Result Margin (in %) |
18.2% |
18.0% |
|
| Profit (loss) from continuing operations |
239 |
293 |
(18) |
| Profit (loss) from discontinued operations, net of income taxes |
(8) |
12 |
--- |
| Profit (loss) for the period |
231 |
305 |
(24) |
| |
|
|
|
| in Euro |
|
|
|
| Basic earnings (loss) per share from continuing operations2 |
0.18 |
0.22 |
(18) |
| Diluted earnings (loss) per share from continuing operations2 |
0.18 |
0.22 |
(18) |
| Adjusted earnings (loss) per share diluted1, 2 |
0.34 |
0.37 |
(8) |
1 The reconciliation of net income to adjusted net income and adjusted earnings per share as well as of cost of goods sold to adjusted cost of goods sold and adjusted gross margin can be found in the quarterly information at https://www.infineon.com/about/investor/reports-presentations/financial-results.
2 The calculation for earnings per share and for adjusted earnings per share is based on unrounded figures.
Group performance in the fourth quarter of the 2025 fiscal year
In the fourth quarter of the 2025 fiscal year, Group revenue rose to €3,943 million, up from €3,704 million in the prior quarter. All four segments, Automotive (ATV), Green Industrial Power (GIP), Power & Sensor Systems (PSS) and Connected Secure Systems (CSS) contributed to the 6 percent increase in revenue. Net of currency effects, the increase in revenue was 8.5 percent.
The gross margin in the fourth quarter of the 2025 fiscal year was 38.1 percent, compared with 40.9 percent in the prior quarter. The adjusted gross margin was 40.7 percent, compared with 43.0 percent in the third quarter of the 2025 fiscal year. In addition to currency effects, this was mainly due to certain product groups for consumer applications in the PSS segment being sold temporarily at lower margins due to underutilized production capacity.
The Segment Result increased by 7 percent to €717 million in the fourth quarter of the 2025 fiscal year, up from €668 million in the third quarter. The Segment Result Margin rose to 18.2 percent, compared with 18.0 percent in the previous quarter.
The fourth-quarter Non-Segment Result was minus €263 million, compared with minus €244 million in the third quarter. The Non-Segment Result for the fourth quarter of the 2025 fiscal year comprised €99 million relating to cost of goods sold, €17 million relating to research and development expenses and €67 million relating to selling, general and administrative expenses. In addition, it included net other operating expenses of €80 million.
Operating profit for the fourth quarter of the 2025 fiscal year improved to €454 million, up from €424 million in the prior quarter.
The financial result in the final quarter of the past fiscal year was a net financial loss of €64 million, compared with a net financial loss of €40 million in the third quarter.
The tax expense in the fourth quarter of the 2025 fiscal year was €152 million, compared with €95 million in the preceding quarter. Contributing to the significant increase in the tax rate were valuation effects relating to deferred taxation.
Profit from continuing operations in the fourth quarter of the past fiscal year amounted to €239 million, compared with €293 million in the third quarter. The result from discontinued operations in the fourth quarter was a loss of €8 million, compared with a profit of €12 million in the previous three-month period. The profit for the period in the fourth quarter was €231 million, compared with €305 million in the third quarter.
Basic earnings per share from continuing operations and diluted earnings per share from continuing operations each stood at €0.18 at the end of the fourth quarter of the 2025 fiscal year, compared with €0.22 for both at the end of the third quarter. Adjusted earnings per share3 (diluted) in the fourth quarter of the past fiscal year stood at €0.34, compared with €0.37 in the prior quarter.
Investments – which Infineon defines as the sum of investments in property, plant and equipment, investments in other intangible assets and capitalized development costs –increased slightly in the fourth quarter of the 2025 fiscal year to €451 million, up from €442 million in the preceding three-month period. Depreciation and amortization in the fourth quarter amounted to €484 million, compared with €463 million in the third quarter of the 2025 fiscal year.
Cash Flow from operating activities from continuing operations improved significantly in the fourth quarter of the 2025 fiscal year to a positive figure of €1,380 million, up from a positive figure of €621 million in the third quarter. The receipt of subsidies contributed to this increase. As a result of Infineon’s acquisition in mid-August of Marvell’s Automotive Ethernet business for a sum equivalent to €2,180 million, Free Cash Flow declined in the fourth quarter of the 2025 fiscal year to a negative figure of €1,276 million, compared with a positive Free Cash Flow of €288 million in the prior quarter.
The gross cash position at the end of the fourth quarter of the past fiscal year was €2,102 million, compared with €1,539 million at the end of the third quarter. Due to the acquisition of Marvell’s Automotive Ethernet business being financed primarily through liability, financial debt increased to €6,829 million at the end of the September quarter, up from €4,984 million as of 30 June 2025. The net cash position was a negative amount of €4,727 million, compared with a negative amount of €3,445 million at the end of the prior quarter.
Proposed dividend for the 2025 fiscal year: €0.35 per share
Our dividend policy aims to allow our shareholders adequately participate in Infineon’s economic development and at paying out at least an unchanged dividend even in the event of stagnating or declining earnings. Against this backdrop, we intend to propose to the Annual General Meeting to be held in February 2026 a dividend of €0.35 per share, as in the previous year. This proposal takes account of the decline seen in our business, while at the same time maintaining the financial headroom required for profitable growth in the years ahead. The number of shares issued remained unchanged at 1,305,921,137 as of 30 September 2025. This figure includes 3,781,390 shares owned by the Company that are not entitled to a dividend. Should the Annual General Meeting approve the planned proposal, the total amount to be distributed to shareholders is anticipated to be €456 million.
Outlook for the first quarter of the 2026 fiscal year
Based on an assumed exchange rate of US$1.15 to the euro, Infineon expects to generate revenue of around €3.6 million in the first quarter of the 2026 fiscal year. It is anticipated that revenue in the ATV and PSS segments will decline at a lower percentage rate, while the revenue decline in the GIP and CSS segments is expected to be more pronounced. The Segment Result Margin is expected to be in the mid-to-high-teens percentage range.
Outlook for the 2026 fiscal year
Based on an assumed exchange rate of US$1.15 to the euro, Infineon expects revenues in the 2026 fiscal year to grow moderately compared with the 2025 fiscal year. Currency effects should have an adverse impact on revenue growth. It is anticipated that the ATV segment will see a percentage growth rate that is lower than the Group average. In contrast, revenue in the PSS segment is expected to grow at a much faster rate than the Group average, driven by very dynamic demand for products for power supply to AI data centers. Compared with the prior year, a moderate increase in revenue is expected in the GIP segment and a slight increase in revenue in the CSS segment. The adjusted gross margin should be in the low-forties percentage range and the Segment Result Margin in the high-teens percentage range.
Investments – which Infineon defines as the sum of investments in property, plant and equipment, investments in other intangible assets and capitalized development costs – are planned to amount to around €2.2 billion for the 2026 fiscal year. Our focus will be on the completion of the fourth manufacturing module in Dresden (Germany) and on manufacturing investment alingend to meet the strongly growing customer demand for power supply to AI data centers in time.
Depreciation and amortization should amount to around €2.0 billion in the 2026 fiscal year, of which approximately €400 million is attributable to amortization of purchase price allocations arising mainly from the acquisition of Cypress and of Marvell’s Automotive Ethernet business. Free Cash Flow adjusted for larger investments in frontend buildings is expected to be around €1.6 billion. Free Cash Flow is forecast to amount to around €1.1 billion.
It is expected that Return on Capital Employed (RoCE) will reach a mid-single-digit percentage rate.
3 Adjusted profit (loss) for the period and adjusted earnings per share (diluted) should not be seen as a replacement or as superior performance indicator, but rather as additional information to profit (loss) for the period and earnings per share (diluted) determined in accordance with IFRS.
Infineon’s segments’ performance in the fourth quarter of the 2025 fiscal year can be found in the quarterly information at https://www.infineon.com/about/investor/reports-presentations/financial-results
All figures in this quarterly information are preliminary and unaudited.
Press conference and analyst telephone conference
On 12 November 2025 the Management Board of Infineon will host a press conference with the media at 8:00 am (CET), 2:00 am (ET). It can be followed over the Internet in both English and German. In addition a telephone conference call including a webcast for analysts and investors (in English only) will take place at 9:30 am (CET), 3:30 am (ET). During both conferences, the Infineon Management Board will present the Company’s results for the fourth quarter as well as the outlook for the first quarter and the 2026 fiscal year. The conferences will also be available live and as replay on Infineon’s website at https://www.infineon.com/about/investor/reports-presentations/financial-results
The Q4 Investor Presentation is available (in English only) at:
https://www.infineon.com/about/investor/reports-presentations/financial-results
Infineon Financial Calendar (*preliminary)
- 13 – 14 Nov 2025 Morgan Stanley European TMT Conference, Barcelona
- 17 Nov 2025 JP Morgan Global TMT Conference, Hong Kong
- 26 – 27 Nov 2025 We Power AI – Divisional Update Call with Peter Wawer, Head of GIP and Adam White, Head of PSS, London
- 1 – 2 Dec 2025 UBS Global TMT Conference, Scottsdale
- 4 Dec 2025 Bernstein Premium Review Conference, Paris
- 8 – 9 Jan 2026 Oddo BHF Forum, Lyon
- 4 Feb 2026* Earnings Release for the First Quarter of the
2026 Fiscal Year
- 19 Feb 2026 Annual General Meeting 2026, Munich
- 6 May 2026* Earnings Release for the Second Quarter of the
2026 Fiscal Year
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 57,000 employees worldwide (end of September 2025) and generated revenue of about €14.7 billion in the 2025 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).
Further information is available at https://www.infineon.com/
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D I S C L A I M E R
The condensed Consolidated Statement of Financial Position, the condensed Consolidated Statement of Profit or Loss and the condensed Consolidated Statement of Cash Flows have been prepared in accordance with IAS 34 “Interim Financial Reporting”. The disclosures required by IAS 34 are not made.
The same accounting policies are applied as in the most recently published consolidated financial statements as of 30 September 2024. An exception to this principle is the application of new and revised standards and interpretations that have become effective during the year as well as a change in accounting policy as of 1 October 2024, relating to certain expenses that are now recognized in research and development costs instead of cost of sales.
The Quarterly Group Statement is prepared in accordance with the Frankfurt Stock Exchange’s stock exchange regulation 53 paragraph.
The Quarterly Group Statement contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group.
These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected. Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.
Due to rounding, numbers presented throughout this Quarterly Group Statement and other reports may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
All figures mentioned in this Quarterly Group Statement are unaudited.
Contact:
Andre Tauber, Media Relations, phone: +49 89 234 23888
