DIOD Technology

Diodes Incorporated

$84.24+5.67%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Technology
Industry: Semiconductors
Country: United States
Market cap: 3.9B USD
Enterprise value: 3.4B USD
Full-time employees: 7,989

Overall health

Drawback: its share price swings more than most peers’ (beta 1.90 vs a peer median of 0.87)bigger price swings (beta 1.90 vs peers 0.87)
About average: profitability, growth, valuation and risk (debt, liquidity and share-price swings)profitability, growth, valuation and risk

Ranks #775 of 1,612 technology companies (top 49%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $79M vs $34M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.3% from December 2022 to July 2026.
Over three fiscal years Diodes recorded $79M of stock-based pay expense and spent $34M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Diodes recorded $79M of stock-based pay expense and spent $34M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Operating margin at a 6-year low. 2.4% in 2025, the weakest of the last 6 years.
Diodes's operating margin fell to 2.4% in 2025, its lowest in the 6 years of filings we have.
Profit below an unusually strong 2022. Since 2022 (an unusually strong year for operating profit): revenue −26%, operating profit −91%.Since 2022: revenue −26%, operating profit −91%.
Since 2022, Diodes's revenue changed −26% while operating profit fell 91%: costs rose faster than sales.
Profit is backed by cash. Free cash flow is 166% of reported profit.
Diodes's free cash flow is 166% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

52/ 100

Oct 5 51 → Nov 4 52 (+1)

Valuation

Is the price right?

57/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 58 → 57

Share price -4.9%+1
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.01Sector median: 0.0225 · MAD: 0.0225

EBITDA yield6.4%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.59Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield3.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.34Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield50.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

52/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 5.1%

Why

Mixed versus peers:

▲ Revenue growth
▲ EPS growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth36.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.83Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-5.7%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.33Sector median: 0.0483 · MAD: 0.0793

Revenue growth17.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.91Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

43/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin4.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.22Sector median: 0.0631 · MAD: 0.0710

Return on assets3.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0293 · MAD: 0.0362

Return on invested capital4.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.32Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin31.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity4.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 55 → 54

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Debt / equity
▲ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.90

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.79Sector median: 0.8710 · MAD: 0.3700

Current ratio3.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.95Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.01×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.05Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Diodes

Is Diodes getting weaker?: Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 52/100 since Oct 28, 2026.
How is Diodes valued vs its peers?: Priced about in line with its peers. Valuation scores 57/100 against 1,711 technology peers. EBITDA yield 6.4% vs a peer median of 4.2% (stronger than 65% of peers).EBITDA yield 6.4% vs peers 4.2% (stronger than 65% of peers).
Is Diodes growing?: At about the same pace as its peers. Growth scores 52/100 against 1,711 technology peers. Revenue growth 17.8% vs a peer median of 8.5% (stronger than 72% of peers).Revenue growth 17.8% vs peers 8.5% (stronger than 72% of peers). 3-year revenue growth -5.7% vs a peer median of 4.8% (weaker than 82% of peers).3-year revenue growth -5.7% vs peers 4.8% (weaker than 82% of peers).
How profitable is Diodes?: About as profitable as its peers. Profitability scores 43/100 against 1,711 technology peers.
How risky is Diodes?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 0.01× vs a peer median of 0.25× (stronger than 90% of peers).Debt / equity 0.01× vs peers 0.25× (stronger than 90% of peers). Beta 1.90 vs a peer median of 0.87 (weaker than 92% of peers).Beta 1.90 vs peers 0.87 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.6B USD	1.6B USD	+5.1%
Net income (12 months)	85.5M USD	86.1M USD	+0.6%
Operating margin	3.5%	4.8%	+1.3 pts
Free cash flow (12 months)	128.7M USD	142.5M USD	+10.7%
Debt	25.3M USD	21.9M USD	−13.5%
Cash	394.1M USD	430.4M USD	+9.2%
Shares outstanding	45.9M	46.1M	+0.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Semiconductors · 41 companies

Valuations in Semiconductors are near the top of their range since 2016.

94% of months since 2016 were valued lower than now.
73% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +53% and earnings −2% (medians): prices rose faster than earnings.
Median price-to-sales is +324% vs the whole market, against a usual +98%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	37.1%	41.3%	39.6%	33.2%	31.2%	▼ 2.0 pts
Operating margin	15.3%	20.4%	15.1%	3.8%	2.4%	▼ 1.5 pts
Net margin	12.7%	16.6%	13.7%	3.4%	4.5%	▲ 1.1 pts
Return on assets (ROA)	10.4%	14.5%	9.6%	1.8%	2.7%	▲ 0.9 pts
Return on equity (ROE)	18.5%	21.9%	13.1%	2.5%	3.5%	▲ 1.1 pts
Free cash flow margin	10.9%	9.0%	7.8%	3.5%	9.3%	▲ 5.7 pts
Current ratio	2.52×	2.69×	3.02×	3.26×	3.32×	▲ 1.9%
Quick ratio	1.78×	1.85×	2.03×	1.99×	2.08×	▲ 4.1%
Debt to equity	0.23×	0.10×	0.01×	0.01×	0.01×	▲ 19%
Interest coverage	36.84×	49.06×	43.96×	21.62×	12.77×	▼ 41%

DIOD price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its share price swings more than most peers’ (beta 1.90 vs a peer median of 0.87)bigger price swings (beta 1.90 vs peers 0.87)

About average: profitability, growth, valuation and risk (debt, liquidity and share-price swings)profitability, growth, valuation and risk

Ranks #775 of 1,612 technology companies (top 49%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $79M vs $34M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.3% from December 2022 to July 2026.

Over three fiscal years Diodes recorded $79M of stock-based pay expense and spent $34M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Diodes recorded $79M of stock-based pay expense and spent $34M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Operating margin at a 6-year low. 2.4% in 2025, the weakest of the last 6 years.

Diodes's operating margin fell to 2.4% in 2025, its lowest in the 6 years of filings we have.

Profit below an unusually strong 2022. Since 2022 (an unusually strong year for operating profit): revenue −26%, operating profit −91%.Since 2022: revenue −26%, operating profit −91%.

Since 2022, Diodes's revenue changed −26% while operating profit fell 91%: costs rose faster than sales.

Profit is backed by cash. Free cash flow is 166% of reported profit.

Diodes's free cash flow is 166% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about Diodes

Is Diodes getting weaker?

Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 52/100 since Oct 28, 2026.

How is Diodes valued vs its peers?

Priced about in line with its peers. Valuation scores 57/100 against 1,711 technology peers. EBITDA yield 6.4% vs a peer median of 4.2% (stronger than 65% of peers).EBITDA yield 6.4% vs peers 4.2% (stronger than 65% of peers).

Is Diodes growing?

At about the same pace as its peers. Growth scores 52/100 against 1,711 technology peers. Revenue growth 17.8% vs a peer median of 8.5% (stronger than 72% of peers).Revenue growth 17.8% vs peers 8.5% (stronger than 72% of peers). 3-year revenue growth -5.7% vs a peer median of 4.8% (weaker than 82% of peers).3-year revenue growth -5.7% vs peers 4.8% (weaker than 82% of peers).

How profitable is Diodes?

About as profitable as its peers. Profitability scores 43/100 against 1,711 technology peers.

How risky is Diodes?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 0.01× vs a peer median of 0.25× (stronger than 90% of peers).Debt / equity 0.01× vs peers 0.25× (stronger than 90% of peers). Beta 1.90 vs a peer median of 0.87 (weaker than 92% of peers).Beta 1.90 vs peers 0.87 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.6B USD

1.6B USD

+5.1%

Net income (12 months)

85.5M USD

86.1M USD

+0.6%

Operating margin

3.5%

4.8%

+1.3 pts

Free cash flow (12 months)

128.7M USD

142.5M USD

+10.7%

Debt

25.3M USD

21.9M USD

−13.5%

Cash

394.1M USD

430.4M USD

+9.2%

Shares outstanding

45.9M

46.1M

+0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

37.1%

41.3%

39.6%

33.2%

31.2%

▼ 2.0 pts

Operating margin

15.3%

20.4%

15.1%

3.8%

2.4%

▼ 1.5 pts

Net margin

12.7%

16.6%

13.7%

3.4%

4.5%

▲ 1.1 pts

Return on assets (ROA)

10.4%

14.5%

9.6%

1.8%

2.7%

▲ 0.9 pts

Return on equity (ROE)

18.5%

21.9%

13.1%

2.5%

3.5%

▲ 1.1 pts

Free cash flow margin

10.9%

9.0%

7.8%

3.5%

9.3%

▲ 5.7 pts

Current ratio

2.52×

2.69×

3.02×

3.26×

3.32×

▲ 1.9%

Quick ratio

1.78×

1.85×

2.03×

1.99×

2.08×

▲ 4.1%

Debt to equity

0.23×

0.10×

0.01×

▲ 19%

Interest coverage

36.84×

49.06×

43.96×

21.62×

12.77×

▼ 41%