# Arm Holdings plc American Depositary Shares (ARM.US)

Canonical: https://gigainvestors.com/s/ARM

Analysis as of: 2026-10-16T07:26:35.186Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $244.79 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Lee Ainslie](https://gigainvestors.com/mc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 31% since Jun 2026 · "Arm Drops 3.3% as More AI Cores Test Royalty Economics" (finance.yahoo.com, Sep 2026)

Story as of 2026-10-16T09:58:19.585Z; price observation 2026-10-15.

- 2025-10-29: Arm Holdings (NasdaqGS:ARM): Evaluating Valuation as Tariff Relief and AI Partnerships Boost Growth Outlook ([finance.yahoo.com](https://finance.yahoo.com/news/arm-holdings-nasdaqgs-arm-evaluating-140909946.html))

- 2026-02-26: Assessing Arm Holdings (NasdaqGS:ARM) Valuation As AI Inference Momentum And PC Adoption Build ([finance.yahoo.com](https://finance.yahoo.com/news/assessing-arm-holdings-nasdaqgs-arm-050918929.html))

- 2026-04-20: Why Arm Holdings (ARM) Is Up 5.8% After New Telco-Focused AI Server Collaboration Announcement ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/why-arm-holdings-arm-5-150613558.html))

- 2026-05-06: Arm forecasts upbeat revenue on surging AI data center demand ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/arm-forecasts-upbeat-revenue-surging-200744878.html))

- 2026-07-16: Arm (ARM) CEO Flags China Export Hurdles As AGI CPU Demand Builds ([finance.yahoo.com](https://finance.yahoo.com/technology/ai/articles/arm-arm-ceo-flags-china-171321710.html))

- 2026-09-24: Arm Holdings (ARM) Stock Gains On AI CPU Demand Surge ([finance.yahoo.com](https://finance.yahoo.com/technology/ai/articles/arm-holdings-arm-stock-gains-231156551.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in semiconductors; annual sales are USD 4.9 billion.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2026-03-31 (filed 2026-05-26); FY2026: revenue 4920000000; grossProfit 4550000000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 92.5% to 94.9% during 2024–26.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2024-03-31 (filed 2026-05-26); FY2024: grossProfit / revenue = 92.8%.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2025-03-31 (filed 2026-05-26); FY2025: grossProfit / revenue = 94.9%.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2026-03-31 (filed 2026-05-26); FY2026: grossProfit / revenue = 92.5%.

### Where the cash goes

Spends 20.2% of cash earnings on expansion; paid dividends in 1 of 6 years.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2021-03-31 (filed 2026-05-26); FY2021: growth capex 0; upkeep 165000000; owner earnings 402800000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2022-03-31 (filed 2026-05-26); FY2022: growth capex 0; upkeep 75000000; owner earnings 650500000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2023-03-31 (filed 2026-05-26); FY2023: growth capex 0; upkeep 93000000; owner earnings 601200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2024-03-31 (filed 2026-05-26); FY2024: growth capex 0; upkeep 143000000; owner earnings 325000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2025-03-31 (filed 2026-05-26); FY2025: growth capex 36100000; upkeep 182900000; owner earnings 792000000. Growth capex / owner earnings = 0.04558080808080808.

- Source: https://eodhd.com/api/fundamentals/ARM.US.json#2026-03-31 (filed 2026-05-26); FY2026: growth capex 153797510.74971372; upkeep 391202489.2502863; owner earnings 761797510.7497137. Growth capex / owner earnings = 0.2018876520065756.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-26); Dividend observations: [[2021,750000000],[2022,0],[2023,0],[2024,0],[2025,0],[2026,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ARM.US SharesStats.PercentInsiders = 0.06899999999999999 percentage points; cache date 2026-10-16.

### What could break it

In March 2026, the lawsuit against Arm Limited was consolidated with the April 2024 lawsuit against us.

- Source: https://www.sec.gov/Archives/edgar/data/1973239/000197323926000097/arm-20260331.htm (filed 2026-05-26); Subsequently, Qualcomm filed a separate lawsuit against Arm Limited seeking to make the April 2024 lawsuit’s allegations against Arm Limited. In March 2026, the lawsuit against Arm Limited was consolidated with the April 2024 lawsuit against us. On March 30, 2026, Qualcomm filed an amended complaint against only Arm Limited seeking to add another breach of contract claim.

### What the price says

The price is 53.1 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-26); Closing price 244.79 USD; reporting-to-trading FX 1; FY2026 annual sales per share 4.606741573033708; price multiple 53.13734146341463. FY2026 cash earnings/share 0.7132935493911177. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-09: $53.52 per share

- 2023-10: $49.29 per share

- 2023-11: $61.50 per share

- 2023-12: $75.15 per share

- 2024-01: $70.67 per share

- 2024-02: $141.04 per share

- 2024-03: $124.99 per share

- 2024-04: $101.21 per share

- 2024-05: $120.52 per share

- 2024-06: $163.62 per share

- 2024-07: $144.17 per share

- 2024-08: $132.88 per share

- 2024-09: $143.01 per share

- 2024-10: $141.30 per share

- 2024-11: $134.29 per share

- 2024-12: $123.36 per share

- 2025-01: $159.55 per share

- 2025-02: $131.69 per share

- 2025-03: $106.79 per share

- 2025-04: $114.05 per share

- 2025-05: $124.54 per share

- 2025-06: $161.74 per share

- 2025-07: $141.38 per share

- 2025-08: $138.31 per share

- 2025-09: $141.49 per share

- 2025-10: $169.82 per share

- 2025-11: $135.56 per share

- 2025-12: $109.31 per share

- 2026-01: $105.36 per share

- 2026-02: $127.45 per share

- 2026-03: $151.28 per share

- 2026-04: $210.32 per share

- 2026-05: $353.29 per share

- 2026-06: $354.57 per share

- 2026-07: $239.69 per share

- 2026-08: $241.91 per share

- 2026-09: $289.66 per share

- 2026-10: $255.39 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1973239/000197323926000097/arm-20260331.htm); period 2026-03-31, filed 2026-05-26.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.