Knowles Corp

Knowles Corp designs and manufactures specialty electronic components that perform critical functions in demanding applications. Its portfolio spans high-performance capacitors, RF filters, advanced microphones, and balanced armature speakers used across medtech, defense, industrial, and electrification/energy markets.

18,0 %

43,2 %

7,5 %

+7,2 %

2.75

1.58

— Knowles Corp
%
Precision Devices capacitors30% Specialized capacitors designed for high voltage, high temperature, and high reliability applications.
Precision Devices RF filters25% RF filtering products used primarily in defense and other frequency-sensitive applications.
Microphones30% Advanced microphones for hearing health and specialty audio devices.
Balanced armature speakers15% Miniature high-performance speakers used in hearing health and specialty audio products.

Knowles sells mainly to OEMs, hearing health manufacturers, and industrial/defense customers that need highly...

  • Hearing health manufacturersprimary

    Buy microphones and balanced armature speakers for hearing aids and related devices where size, power, and acoustic performance matter.

  • Defense OEMsprimary

    Buy RF filters and high-reliability capacitors for mission-critical systems that require custom engineering and durability.

  • Industrial and electrification customerssecondary

    Buy specialty capacitors and RF solutions for industrial equipment and electrification/energy applications.

  • Specialty audio OEMssecondary

    Buy balanced armature speakers and microphones for premium audio products that need compact, high-fidelity components.

  • Distributors and contract manufacturerssecondary

    Purchase components for downstream OEM programs and are important to channel reach and revenue timing.

Knowles operates globally, with sales, support, and engineering in North America, Europe, and Asia, and manufacturing...

  • Headquartered in Itasca, Illinois, United States
  • Sales, support, and engineering in North America, Europe, and Asia
  • Manufacturing in North America and Asia
  • Global distribution center in Penang, Malaysia
  • Facilities in 11 countries create supply-chain and geopolitical exposure

Knowles is focused on custom-engineered solutions in markets where reliability and performance justify premium pricing...

01
Grow PD in profitable end marketsmedium-term

Defense, medtech, industrial, and electrification applications support higher-value, less price-sensitive demand.

02
Protect and expand MSA marginsshort-term

MSA depends on a concentrated customer base and faces pricing pressure on mature products.

03
Rationalize manufacturing and overheadshort-term

Production transfers and headcount reductions are intended to lower cost and improve operating leverage.

Knowles is exposed to customer concentration, especially in MSA where a few OEMs drive a large share of revenue and...

high

Customer concentration in MSA

Top customers account for a large share of segment revenue, so order delays or losses can materially reduce sales.

Scope
WS Audiology represented 11% of consolidated revenue in 2025; top five MSA customers were 76% of segment revenue
Materiality
high
high

Global supply-chain and geopolitical disruption

Manufacturing, R&D, vendors, and customers are spread across multiple countries, increasing disruption risk.

Scope
Operations in North America, Europe, and Asia; distribution center in Malaysia
Materiality
high
medium

Commodity price inflation

The company uses metals such as palladium, gold, brass, stainless steel, and copper in production.

Scope
Input cost volatility may not be fully recoverable through pricing
Materiality
medium
medium

Execution risk on strategic transactions

Acquisitions, divestitures, and manufacturing transfers can create integration costs and fail to deliver expected benefits.

Scope
CMM sale, PD acquisition-related integration, production transfer costs
Materiality
medium
Restructuring charges
Affects comparability of margins and operating income
Production transfer costs
Can temporarily lower gross margin
Impairment of machinery and equipment
Reduces operating income and may indicate excess capacity
Acquisition and divestiture-related adjustments
Impacts EBIT and non-GAAP reconciliation

: 28/04/2026