The Pulse 20: Semiconductor Leaders and Laggards – Q1 2025 Revenue Growth Edition

In the current semiconductor cycle, growth has become the most valuable currency. While traditional metrics like P/E and EBITDA margins still play a role in valuations, investor capital continues to flow toward companies showing clear top-line acceleration—particularly in areas tied to artificial intelligence, data center expansion, sovereign compute, and advanced packaging.

This edition of the Pulse 20 profiles twenty leading semiconductor and semiconductor-adjacent firms ranked by their year-over-year revenue growth in Q1 2025. For many of these firms, revenue expansion isn't just a measure of demand—it signals strategic relevance to the AI infrastructure wave. Companies capturing high-margin, high-throughput workloads are commanding premium multiples, while those exposed to consumer devices, legacy automotive, and commoditized logic are facing valuation compression despite solid fundamentals.

By focusing on revenue growth (YoY), we isolate the most forward-looking signal in the semiconductor sector. Gross profit and EBITDA help explain margins, but this table puts momentum front and center—separating the names attracting capital from those being left behind.

Company Profiles (in order of ranking)