POWI Technology

Power Integrations, Inc.

$46.99+4.77%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Technology
Industry: Semiconductors
Country: United States
Market cap: 2.6B USD
Enterprise value: 2.3B USD
Full-time employees: 877

Overall health

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.53 vs a peer median of 0.87)bigger price swings (beta 1.53 vs peers 0.87)

Ranks #948 of 1,612 technology companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $318M vs $196M of free cash flow over the 3 fiscal years to 2025.
Power Integrations returned $318M to shareholders over three years, 163% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Buybacks largely absorbed by stock pay. Stock-based pay expense $103M vs $181M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed −1.9% from December 2022 to August 2026.
Over three fiscal years Power Integrations recorded $103M of stock-based pay expense and spent $181M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−1.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Power Integrations recorded $103M of stock-based pay expense and spent $181M repurchasing shares. The share count barely moved (−1.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Operating margin at a 6-year low. 2.3% in 2025, the weakest of the last 6 years.
Power Integrations's operating margin fell to 2.3% in 2025, its lowest in the 6 years of filings we have.
Sales growing faster than profits. Since 2022: revenue −32%, operating profit −94%.
Since 2022, Power Integrations's revenue changed −32% while operating profit fell 94%: costs rose faster than sales.

StockQuotient Score

47/ 100

Oct 5 47 → Nov 4 47

Valuation

Is the price right?

35/100

Weak

3/3 inputs reported · High confidence

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

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

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

Earnings yield1.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.58Sector median: 0.0225 · MAD: 0.0225

EBITDA yield2.6%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.47Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield3.0%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.10Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield25.9%

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

Growth

Is it growing?

19/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

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

Earnings per share growth-25.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.19Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-4.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.17Sector median: 0.0483 · MAD: 0.0793

Revenue growth1.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.68Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

38/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.3 points to 3.4%

Why

Weaker than most peers on:

▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin3.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.41Sector median: 0.0631 · MAD: 0.0710

Return on assets3.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.08Sector median: 0.0293 · MAD: 0.0362

Return on invested capital2.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.56Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin53.6%

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

Return on equity3.7%

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

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio

Compare with peers

Behind the score

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

Beta1.53

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.79Sector median: 0.8710 · MAD: 0.3700

Current ratio7.07×

SEC filings · latest balance sheetReported value33% base weight · Z-score 7.65Sector median: 1.8295 · MAD: 0.6848

Debt / equityUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector 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 Power Integrations

Is Power Integrations getting weaker?: Its latest SEC filing (Aug 6, 2026) got stronger: operating margin rose 2.3 points to 3.4%. Its overall score is unchanged at 47/100 since Oct 28, 2026.
How is Power Integrations valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,711 technology peers. Earnings yield 1.0% vs a peer median of 2.2% (weaker than 66% of peers).Earnings yield 1.0% vs peers 2.2% (weaker than 66% of peers).
Is Power Integrations growing?: More slowly than most of its peers. Growth scores 19/100 against 1,711 technology peers. Earnings per share growth -25.1% vs a peer median of 11.1% (weaker than 81% of peers).Earnings per share growth -25.1% vs peers 11.1% (weaker than 81% of peers).
How profitable is Power Integrations?: Less profitable than most of its peers. Profitability scores 38/100 against 1,711 technology peers. Return on invested capital 2.0% vs a peer median of 6.8% (weaker than 67% of peers).Return on invested capital 2.0% vs peers 6.8% (weaker than 67% of peers).
How risky is Power Integrations?: Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 7.07× vs a peer median of 1.83× (stronger than 94% of peers).Current ratio 7.07× vs peers 1.83× (stronger than 94% of peers). Beta 1.53 vs a peer median of 0.87 (weaker than 84% of peers).Beta 1.53 vs peers 0.87 (weaker than 84% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 2.3 points to 3.4%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	446.3M USD	449.4M USD	+0.7%
Net income (12 months)	16.6M USD	25.1M USD	+51.0%
Operating margin	1.1%	3.4%	+2.3 pts
Free cash flow (12 months)	84.5M USD	79.0M USD	−6.5%
Cash	63.4M USD	70.6M USD	+11.4%
Shares outstanding	55.7M	55.9M	+0.3%

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	51.3%	56.3%	51.5%	53.6%	54.5%	▲ 0.8 pts
Operating margin	24.9%	27.7%	7.9%	4.3%	2.3%	▼ 2.0 pts
Net margin	23.4%	26.2%	12.5%	7.7%	5.0%	▼ 2.7 pts
Return on assets (ROA)	16.2%	20.3%	6.8%	3.9%	2.9%	▼ 1.0 pts
Return on equity (ROE)	18.0%	22.6%	7.4%	4.3%	3.3%	▼ 1.0 pts
Free cash flow margin	26.1%	27.0%	10.1%	15.3%	19.6%	▲ 4.4 pts
Current ratio	9.50×	8.99×	10.47×	9.29×	6.51×	▼ 30%
Quick ratio	8.12×	6.67×	7.13×	6.30×	4.14×	▼ 34%

POWI 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

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.53 vs a peer median of 0.87)bigger price swings (beta 1.53 vs peers 0.87)

Ranks #948 of 1,612 technology companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Returning more cash than it generates. Paid out $318M vs $196M of free cash flow over the 3 fiscal years to 2025.

Power Integrations returned $318M to shareholders over three years, 163% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Buybacks largely absorbed by stock pay. Stock-based pay expense $103M vs $181M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed −1.9% from December 2022 to August 2026.

Over three fiscal years Power Integrations recorded $103M of stock-based pay expense and spent $181M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−1.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Power Integrations recorded $103M of stock-based pay expense and spent $181M repurchasing shares. The share count barely moved (−1.9%), so much of the repurchasing offset new employee shares rather than shrinking the count.

Operating margin at a 6-year low. 2.3% in 2025, the weakest of the last 6 years.

Power Integrations's operating margin fell to 2.3% in 2025, its lowest in the 6 years of filings we have.

Sales growing faster than profits. Since 2022: revenue −32%, operating profit −94%.

Since 2022, Power Integrations's revenue changed −32% while operating profit fell 94%: costs rose faster than sales.

Questions investors ask about Power Integrations

Is Power Integrations getting weaker?

Its latest SEC filing (Aug 6, 2026) got stronger: operating margin rose 2.3 points to 3.4%. Its overall score is unchanged at 47/100 since Oct 28, 2026.

How is Power Integrations valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,711 technology peers. Earnings yield 1.0% vs a peer median of 2.2% (weaker than 66% of peers).Earnings yield 1.0% vs peers 2.2% (weaker than 66% of peers).

Is Power Integrations growing?

More slowly than most of its peers. Growth scores 19/100 against 1,711 technology peers. Earnings per share growth -25.1% vs a peer median of 11.1% (weaker than 81% of peers).Earnings per share growth -25.1% vs peers 11.1% (weaker than 81% of peers).

How profitable is Power Integrations?

Less profitable than most of its peers. Profitability scores 38/100 against 1,711 technology peers. Return on invested capital 2.0% vs a peer median of 6.8% (weaker than 67% of peers).Return on invested capital 2.0% vs peers 6.8% (weaker than 67% of peers).

How risky is Power Integrations?

Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 7.07× vs a peer median of 1.83× (stronger than 94% of peers).Current ratio 7.07× vs peers 1.83× (stronger than 94% of peers). Beta 1.53 vs a peer median of 0.87 (weaker than 84% of peers).Beta 1.53 vs peers 0.87 (weaker than 84% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

446.3M USD

449.4M USD

+0.7%

Net income (12 months)

16.6M USD

25.1M USD

+51.0%

Operating margin

1.1%

3.4%

+2.3 pts

Free cash flow (12 months)

84.5M USD

79.0M USD

−6.5%

Cash

63.4M USD

70.6M USD

+11.4%

Shares outstanding

55.7M

55.9M

+0.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

51.3%

56.3%

51.5%

53.6%

54.5%

▲ 0.8 pts

Operating margin

24.9%

27.7%

7.9%

4.3%

2.3%

▼ 2.0 pts

Net margin

23.4%

26.2%

12.5%

7.7%

5.0%

▼ 2.7 pts

Return on assets (ROA)

16.2%

20.3%

6.8%

3.9%

2.9%

▼ 1.0 pts

Return on equity (ROE)

18.0%

22.6%

7.4%

4.3%

3.3%

▼ 1.0 pts

Free cash flow margin

26.1%

27.0%

10.1%

15.3%

19.6%

▲ 4.4 pts

Current ratio

9.50×

8.99×

10.47×

9.29×

6.51×

▼ 30%

Quick ratio

8.12×

6.67×

7.13×

6.30×

4.14×

▼ 34%