{"slug":"skyworks-solutions","name":"스카이웍스 솔루션스","name_en":"Skyworks Solutions","ticker":"SWKS","updated_at":"2026-07-12T04:19:32.885+00:00","canonical":"https://valuechain.wiki/skyworks-solutions","citable":"밸류체인 그래프 기준 스카이웍스 솔루션스의 직접 연결 기업은 2곳(관계 기준 공급 0·매출 1·투자 1)이고, 사슬을 2차까지 넓히면 2곳에 닿는다. 링크의 근거 출처는 3건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Skyworks Solutions is directly linked to 2 companies (0 supply, 1 revenue, 1 investment relationships) and reaches 2 companies within two hops; the links are backed by 3 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"RF 프론트엔드 (애플 의존)","kicker_en":"RF front-end (Apple-dependent)","lead":"스마트폰용 RF 프론트엔드(파워앰프·필터·스위치)를 만드는 반도체 회사다. 최대 고객 애플이 매출의 큰 부분을 차지하고(1분기 72%), 약 6,900개 고객·4,900개 제품을 보유한다. 아시아 파운드리와 일본 오사카 자체 웨이퍼팹을 함께 쓴다. 2025년 10월 코보와 약 220억달러 합병에 합의했다.","lead_en":"A chipmaker of smartphone RF front-ends (power amps, filters, switches). Its largest customer Apple is a big share of revenue (72% in Q1), across ~6,900 customers and 4,900 products. It uses Asia-Pacific foundries plus its own wafer fab in Osaka, Japan. In October 2025 it agreed to a ~$22B merger with Qorvo.","segments":{"parts":[{"desc":"스마트폰 RF 프론트엔드(PA·필터·스위치) — 애플 최대고객(1분기 72%)으로 폰 수량·믹스가 실적을 좌우하는 본체.","name":"모바일 RF (스마트폰 프론트엔드)","note":"애플 최대고객"},{"desc":"자동차·IoT·인프라 등 6,900 고객·4,900 제품 — 애플 의존을 낮추려는 다변화 축.","name":"브로드마켓 (자동차·IoT·인프라)"}],"total":"모바일(애플 중심) + 브로드마켓"},"segments_en":{"parts":[{"desc":"Smartphone RF front-ends (PAs, filters, switches) — with Apple the largest customer (72% in Q1), phone volume/mix drives this core.","name":"Mobile RF (smartphone front-end)","note":"Apple largest customer"},{"desc":"Automotive, IoT and infrastructure across ~6,900 customers and 4,900 products — the diversification axis reducing Apple dependence.","name":"Broad Markets (auto, IoT, infra)"}],"total":"Mobile (Apple-led) + Broad Markets"},"returns_yearly":{"2021":2.7,"2022":-39.9,"2023":26.5,"2024":-18.9,"2025":-25.5,"2026":-2.8},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"apple","name":"Apple","name_en":"Apple","tier":1,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}}],"benefiting":[{"slug":"qorvo","name":"코보","name_en":"Qorvo","tier":1,"returns_yearly":{"2021":-5.9,"2022":-42,"2023":24.2,"2024":-37.9,"2025":20.8,"2026":1.5}}],"analysis":"스카이웍스의 논지는 애플 의존 RF 프론트엔드 강자가 코보 합병으로 규모·협상력을 키우는 전환이다. 스마트폰 RF 프론트엔드(PA·필터·스위치) 핵심 공급사로 최대 고객 애플이 1분기 매출의 72%, 상위 3개 매출채권이 82%를 차지할 만큼 집중돼 있어 — 아이폰 판매 수량·믹스가 실적을 직접 좌우한다. 이 단일 고객 리스크가 2025년 주가 약세(-25.5%)의 배경이다. 성장·방어의 두 축은 코보와의 약 220억 달러 합병(2025년 10월, 2027년 초 완료 예정)으로 RF 프론트엔드 미국 양대사가 결합해 규모·특허·애플 협상력을 키우는 것과, 자동차·IoT·인프라 브로드마켓(6,900 고객) 다변화다. 공급은 아시아 파운드리와 오사카 자체 팹을 병행한다. 재평가 트리거는 코보 합병 완료·시너지, 아이폰 사이클, 그리고 브로드마켓 성장이다.","analysis_en":"Skyworks's thesis is an Apple-dependent RF front-end leader building scale and bargaining power through a Qorvo merger. As a core supplier of smartphone RF front-ends (PAs, filters, switches), its largest customer Apple was 72% of Q1 revenue and its top-three receivables 82% — so iPhone volume and mix directly drive results, and that single-customer risk underlies the 2025 share weakness (-25.5%). The two axes of growth and defense are the ~$22B merger with Qorvo (October 2025, expected to close early 2027), which combines the two US RF front-end makers to build scale, patents and Apple bargaining power, and diversification into automotive, IoT and infrastructure broad markets (~6,900 customers). Supply runs on Asia-Pacific foundries plus its own Osaka fab. Re-rating triggers are the Qorvo merger close and synergies, the iPhone cycle, and broad-market growth.","analysis_asof":"2026-07-10"},"edges":[{"direction":"investment","counterparty":"Qorvo (합병, $22B)","counterparty_slug":"qorvo","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-10","value":22000000000,"period":"합병 규모"},"note":"2025년 10월 27일 코보와 현금·주식 약 220억달러 합병 계약(후속사건) — RF 프론트엔드 양대 미국사 결합, 2027년 초 완료 예상.","note_en":"An October 27, 2025 cash-and-stock merger agreement with Qorvo worth ~$22B (subsequent event), combining the two US RF front-end makers; expected to close early 2027.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-07","url":"https://www.sec.gov/Archives/edgar/data/4127/000000412725000085/swks-20251003.htm","title":"Skyworks 10-K (FY2025, 10월 결산)","title_en":"Skyworks 10-K (FY2025, Oct year-end)","excerpt":"QorvoMember SubsequentEvent 2025-10-27; the Mergers... failure to complete the Merger could adversely affect our business.","excerpt_en":"Qorvo merger agreement dated 2025-10-27 (subsequent event)."},{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"analysis","lang":"en","published_at":"2025-11-07","url":"https://www.stocktitan.net/sec-filings/SWKS/10-k-skyworks-solutions-inc-files-annual-report-81aff76342d7.html","title":"Skyworks 10-K 요약 (애플 집중·코보 합병)","title_en":"Skyworks 10-K summary (Apple concentration, Qorvo merger)","excerpt":"On October 27, 2025, Skyworks entered a Merger Agreement with Qorvo valued at approximately $22.0 billion; completion expected early in calendar 2027.","excerpt_en":"~$22B Skyworks-Qorvo merger; close early 2027."},{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2025-10-28","url":"https://www.hankyung.com/article/skyworks-qorvo-merger-rf","title":"스카이웍스·코보 220억달러 합병…RF 프론트엔드 재편","title_en":"Skyworks-Qorvo $22B merger reshapes RF front-end","excerpt":"스카이웍스가 코보와 약 220억달러 규모 합병에 합의, RF 프론트엔드 시장 재편.","excerpt_en":"Skyworks agreed to a ~$22B merger with Qorvo, reshaping the RF front-end market."}]},{"direction":"revenue","counterparty":"브로드마켓 (자동차·IoT·인프라, 6,900 고객)","counterparty_slug":null,"confidence":"high","metric":{"type":"count","unit":"고객","as_of":"2025-10","value":6900},"note":"약 6,900개 고객·4,900개 제품의 브로드마켓(자동차·IoT·인프라·통신) — 애플 의존을 낮추려는 다변화 축.","note_en":"Broad Markets (automotive, IoT, infrastructure, comms) across ~6,900 customers and 4,900 products - the diversification push away from Apple dependence.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-07","url":"https://www.sec.gov/Archives/edgar/data/4127/000000412725000085/swks-20251003.htm","title":"Skyworks 10-K (FY2025, 10월 결산)","title_en":"Skyworks 10-K (FY2025, Oct year-end)","excerpt":"Our distribution network spans approximately 6,900 customers and 4,900 unique products.","excerpt_en":"Distribution spans ~6,900 customers and 4,900 products."}]},{"direction":"revenue","counterparty":"Apple","counterparty_slug":"apple","confidence":"high","metric":{"type":"share","unit":"%","as_of":"2025-10","basis":"10-K","value":72,"period":"최대 고객","basis_en":"10-K","qualifier":"Q1 2025"},"note":"아이폰 RF 프론트엔드 최대 공급 — 최대 고객 애플이 매출의 상당 부분(FY2025·24·23 각 유의미, 1분기 72%). 상위 3개 매출채권이 82%로 집중. 판매되는 폰 수량·믹스가 실적을 좌우.","note_en":"Top iPhone RF front-end supplier - Apple, the largest customer, is a significant portion of revenue (each of FY2025/24/23; 72% in Q1); the top three receivables are 82%. Volume and mix of phones sold drives results.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-07","url":"https://www.sec.gov/Archives/edgar/data/4127/000000412725000085/swks-20251003.htm","title":"Skyworks 10-K (FY2025, 10월 결산)","title_en":"Skyworks 10-K (FY2025, Oct year-end)","excerpt":"Our largest customer... accounted for a significant portion of our net revenue in each of the fiscal years ended October 3, 2025, September 27, 2024, and September 29, 2023. The number and mix of phones sold by our largest customer.","excerpt_en":"Largest customer a significant portion of net revenue in FY2025/24/23; results tied to that customer's phone volume and mix."},{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"analysis","lang":"en","published_at":"2025-11-07","url":"https://www.stocktitan.net/sec-filings/SWKS/10-k-skyworks-solutions-inc-files-annual-report-81aff76342d7.html","title":"Skyworks 10-K 요약 (애플 집중·코보 합병)","title_en":"Skyworks 10-K summary (Apple concentration, Qorvo merger)","excerpt":"Apple exceeded ten percent of net revenue; the largest customer reached 72% of revenue in Q1 2025; top three receivables 82%.","excerpt_en":"Apple over 10% of revenue; 72% in Q1; top-three receivables 82%."}]},{"direction":"cost","counterparty":"아시아 파운드리·자체 웨이퍼팹 (오사카)","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"아시아·태평양 파운드리와 일본 오사카 자체 웨이퍼팹을 병행 — RF 다이 생산. 패키징·조립·테스트도 자체+외주.","note_en":"Uses Asia-Pacific foundries plus its own wafer fab in Osaka, Japan for RF die, with in-house and outsourced packaging, assembly and test.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-07","url":"https://www.sec.gov/Archives/edgar/data/4127/000000412725000085/swks-20251003.htm","title":"Skyworks 10-K (FY2025, 10월 결산)","title_en":"Skyworks 10-K (FY2025, Oct year-end)","excerpt":"Facilities and semiconductor foundries located in the Asia-Pacific region. We also operate our own wafer processing facilities in Osaka, Japan, as well as packaging, assembly.","excerpt_en":"Asia-Pacific foundries plus own Osaka wafer fab and packaging/assembly."}]},{"direction":"cost","counterparty":"RF 소재·기판 (필터·SAW/BAW·라미네이트)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"RF 필터(SAW/BAW)·라미네이트 기판·특수 재료를 조달. 재료·서비스의 가용성·비용이 실적 변수.","note_en":"Sources RF filters (SAW/BAW), laminate substrates and specialty materials; availability and cost of materials and services are result drivers.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-07","url":"https://www.sec.gov/Archives/edgar/data/4127/000000412725000085/swks-20251003.htm","title":"Skyworks 10-K (FY2025, 10월 결산)","title_en":"Skyworks 10-K (FY2025, Oct year-end)","excerpt":"availability and cost of materials and services from suppliers.","excerpt_en":"Availability and cost of materials and services from suppliers."}]}]}