GlobalFoundries
GF is a leading global semiconductor manufacturer with operations spanning three continents.
20-F, Feb 27, 2026
Source and method
In the company’s words: first descriptive sentence of 20-F Item 4, verbatim (extractive). Item 4 · Information on the Company · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Business
How does GlobalFoundries make money?
No revenue split that adds up to total revenue.
Empty state, nothing estimated.
What is left of every $100?
Of every $100 in revenue, $13 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $6.8B
- Gross profit: $1.7B
- Operating income: $797M
- Net income: $885M
- Free cash flow: $1.0B
Where do customers sit?
No revenue-by-region breakdown in the latest annual report's XBRL data.
In the company’s words ›
“GF was established in 2009 when a wholly-owned subsidiary of Mubadala, acquired Advanced Micro Devices, Inc.’s (“AMD”) manufacturing operations in Dresden, Germany, as well as their fab project site in Malta, New York.”
“We continue to expand our global manufacturing capacity, including through ongoing investments at our Malta, New York site, new advanced packaging capabilities in the United States, and expansions of our Dresden and Singapore fabs.”
“These investments are supported in part by incentive programs including the U.S. CHIPS and Science Act, European Union semiconductor initiatives, and programs sponsored by the Singapore government.”
Item 4 · Information on the Company · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Thesis
Why do people invest?
3 reasons in the company’s own words.
Revenue +1%
“Net revenue increased by $41 million, or 0.6%, for the year ended December 31, 2025, compared to the year ended December 31, 2024.”
Item 5 · Operating and Financial Review · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Number check (revenue): stated $41.0M matches the stored change ($41.0M, ±10%)
Revenue: $6.8B FY2025 · +0.6% vs FY2024 · KPIs
Position (in the company’s words)
“In order to secure a reliable and flexible supply of high-quality wafers, we have entered into multiple long-term agreements with the majority of our principal suppliers, the largest of which is Soitec.”
Item 4 · Information on the Company · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
R&D +4%
“Research and development expenses increased by $22 million, or 4.4%, for the year ended December 31, 2025, compared to the year ended December 31, 2024.”
Item 5 · Operating and Financial Review · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Number check (R&D expense): stated $22.0M matches the stored change ($22.0M, ±10%)
R&D expense: $518M FY2025 · +4.4% vs FY2024 · Profitability charts
Source and method
Verbatim · selection. Sentences selected by rules from the 20-F and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
3 of 3 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue grew 0.6% to $6.8B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. GlobalFoundries files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue fell 17.1%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
11.7% operating margin, up from −3.2%.
24.9% gross margin, up from 24.5%.
Operating income: $797M in FY2025.
Net income: $885M in FY2025.
R&D grew 4.4% to $518M.
EPS diluted: $1.59 in FY2025.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. GlobalFoundries files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps $15 of every $100 as free cash.
Operating cash flow grew 0.5% to $1.7B.
Capex grew 16% to $722M.
Stock-based compensation grew 7.5% to $200M.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. GlobalFoundries files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
Cash: $1.8B; debt not reported.
Interest expense fell 36% to $93.0M.
Total assets grew 2.0% to $17.1B.
Equity grew 11% to $11.9B.
Cash fell 17% YoY to $1.8B.
Total assets grew 2.0% YoY to $17.1B.
Equity grew 11% YoY to $11.9B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. GlobalFoundries files annual reports with the SEC on Form 20-F (IFRS, USD); quarterly figures appear only in 6-K reports and are not captured here as quarterly series.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
Who does GlobalFoundries depend on?
No customer above the disclosure threshold.
Customers, suppliers, stakes and mentions ›
Only what filings state. Anonymous customers stay anonymous.
Largest customers (GlobalFoundries annual report)
No customer with a reported share of revenue (the 10-K names none above the disclosure threshold).
Suppliers named by GlobalFoundries
No supplier among the covered companies is named in the filings.
GlobalFoundries holds stakes in
No stake in a covered company found in SEC filings.
Others name GlobalFoundries
2 competitor mentions (e.g. Intel, Tower Semiconductor) · 2 other mentions (e.g. AMD, Intel) · 1 supplier mention (e.g. AMD) in covered companies’ filings. Mentions, not confirmed relationships.
Risks
What could go wrong?
4 of 75 risk factors, one per theme.
Customer concentration
“We depend on a small number of customers for a significant portion of our revenue and any loss of these or our other key customers, including potentially through further customer consolidation, could result in significant declines in our revenue.”
Item 3.D · Risk Factors · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Supply chain and manufacturing
“As part of the semiconductor industry, we rely on a global supply chain and are subject to impacts from political, economic and financial crises and tensions among major trading countries.”
Item 3.D · Risk Factors · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Competition
“If we are unable to attract customers with our technology and services, respond to fast-changing semiconductor market dynamics or maintain our leadership in product quality, we will become less competitive.”
Item 3.D · Risk Factors · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Trade, government policy and geopolitics
“General global economic and geopolitical conditions and related changes in laws and policies governing the terms of foreign trade, and in particular increased trade restrictions, tariffs or taxes on imports, could materially and adversely affect our results of operations, financial condition, business and prospects.”
Item 3.D · Risk Factors · 20-F · 0001709048-26-000022 · filed Feb 27, 2026
Source and method
Short verbatim quotes from the risk factors in Item 3.D, one per theme (a partial selection). Full list: 20-F.
Who’s invested
Who owns more than 5%?
Mubadala Investment Co PJSC holds 72.8%.
Mubadala Investment Co PJSC72.8%
13G/A · as of Jun 30, 2026 · filed Aug 10, 2026
Fmr LLC12.7%
13G/A · as of Jun 30, 2026 · filed Aug 6, 2026
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
Fmr LLC47.7%
69.8M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Jpmorgan Chase & Co4.6%
6.8M shares · 13F filed Aug 12, 2026 · share of 13F-reported
Marshall Wace, Llp3.1%
4.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Two Sigma Investments, LP2.3%
3.4M shares · 13F filed Aug 14, 2026 · share of 13F-reported
BlackRock, Inc.2.2%
3.2M shares · 13F filed Aug 7, 2026 · share of 13F-reported
442 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding. 2 large filings with inconsistent reported value per share left out.
Insiders, last 12 months (Form 4, open market)
1 purchases · 48 sales · $3.8M sold
Grants, gifts and tax withholding counted separately · window Oct 15, 2025 – Oct 15, 2026
All metrics
All metrics · 30 SEC metrics, FY2016–FY2025
Income statement 9
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | not reported | not reported | not reported | |||||||
| D&A | not reported | not reported | not reported | |||||||
| Gross profit | not reported | not reported | not reported | |||||||
| Income taxes | not reported | not reported | not reported | |||||||
| Interest expense | not reported | not reported | not reported | |||||||
| Net income | not reported | not reported | not reported | |||||||
| Operating income | not reported | not reported | not reported | |||||||
| Research and development | not reported | not reported | not reported | |||||||
| Revenue | not reported | not reported | not reported | |||||||
Balance sheet 7
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | not reported | not reported | ||||||||
| Current liabilities | not reported | not reported | not reported | not reported | ||||||
| Current portion of long-term debt | not reported | not reported | not reported | not reported | ||||||
| Equity | not reported | not reported | not reported | not reported | ||||||
| Equity incl. NCI | not reported | not reported | ||||||||
| Total assets | not reported | not reported | not reported | not reported | ||||||
| Total liabilities & equity | not reported | not reported | not reported | not reported | ||||||
Cash flow 5
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex | not reported | not reported | not reported | |||||||
| Free cash flow calc. | not reported | not reported | not reported | |||||||
| Interest paid | not reported | not reported | not reported | |||||||
| Operating cash flow | not reported | not reported | not reported | |||||||
| Stock-based compensation | not reported | not reported | not reported | |||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | not reported | not reported | not reported | |||||||
| EPS diluted | not reported | not reported | not reported | |||||||
| Wtd. shares basic | not reported | not reported | not reported | |||||||
| Wtd. shares diluted | not reported | not reported | not reported | |||||||
Other 5
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Long-term bank loans (IFRS) | not reported | not reported | not reported | not reported | ||||||
| NCI income | not reported | not reported | not reported | |||||||
| Other income (incl. interest) calc. | not reported | not reported | not reported | |||||||
| Pretax income | not reported | not reported | not reported | |||||||
| Total liabilities | not reported | not reported | not reported | not reported | ||||||
Method
extractive: verbatim sentences selected by rules from Item 4, 3.D and 5 of the 20-F; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values