Infineon Technologies (IFX) Q4 2026 (Media) earnings summary

Executive summary

• FY26 revenue reached a record EUR 16.353bn, up 12% reported and 15% at constant exchange rates; Q4 revenue was a record EUR 4.706bn, with Segment Result of EUR 1.119bn.

• FY27 revenue is forecast at ~EUR 20bn, more than 20% growth, with Segment Result Margin in the mid-20%s as data-center power, infrastructure, electromobility and software-defined vehicles drive expansion.

Financial highlights

• FY26 operating profit was EUR 2.214bn versus EUR 1.515bn; profit for the period was EUR 1.512bn versus EUR 1.015bn.

• FY26 adjusted diluted EPS was EUR 1.73 versus EUR 1.39; IFRS diluted EPS from continuing operations was EUR 1.14 versus EUR 0.76.

• Q4 revenue rose 13% QoQ to EUR 4.706bn; gross margin was 41.8% and adjusted gross margin 45.1%. Q4 operating profit was EUR 775m and profit for the period EUR 532m.

• Adjusted Free Cash Flow was EUR 1.925bn, or 11.8% of revenue; FY26 FCF was EUR 993m. Adjusted FCF excludes acquisitions and large front-end building investments.

• FY26 AI data-center power-supply revenue reached EUR 1.7bn, more than doubling again; classical data-center power-supply revenue was ~EUR 500m.

Outlook and guidance

• Q1 FY27 revenue is expected at ~EUR 4.6bn and Segment Result Margin at ~23%, assuming EUR/USD of 1.15; revenue implies better-than-usual seasonality.

• FY27 revenue is forecast at ~EUR 20bn, up more than 20%; adjusted gross margin is expected in the mid-to-high 40% range and Segment Result Margin in the mid-20% range.

• Combined AI and classical data-center power-supply revenue is expected to increase from EUR 2.2bn in FY26 to close to EUR 4bn in FY27; Q4 FY26 AI-related revenue was EUR 800m.

• FY27 adjusted FCF is expected at ~EUR 2.2bn and FCF at ~EUR 1.8bn; ROCE is forecast in the low-teens percentage range.

• FY27 investments are planned at EUR 3.0bn–EUR 3.5bn, with R&D spending of ~EUR 2.8bn.