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Diodes Incorporated
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$4.0B
Market Cap
34.5
P/E
298.29
PEG
1.8%
ROCE
3.6%
ROE
0.05
D/E
2.5%
OPM
-30.5%
% from 52W High
86
α RS
🔍 DIOD is showing a momentum setup because RS Rating is 86 and an ECS of 56.2 last quarter. The main caution: the Fortress Balance preset's Backtest win rate is only 38.6%. Net: Mixed signal stack, not a recommendation. ? RS Rating ECS Backtest
Sources
RS Rating 86 · ECS 56.2 · Backtest win rate 38.6%
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Currency-adjusted total returns for DIOD including FX impact
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📈 Price History
Ratio Health
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About

Diodes Incorporated, together with its subsidiaries, provides semiconductor products in Asia, the Americas, and Europe. The company offers MOSFET and SiC MOSFET discrete semiconductor products; data line protection, power line protection, thyrister, USB Type-C protection, and transient voltage suppressor protection devices; Schottky diodes, small signal switching diodes, Zener diodes, and SiC diodes; and bridges, super barrier rectifiers, Schottky rectifiers, Schottky bridge rectifiers, and fast and ultra-fast rectifiers. It also provides avalanche transistors, gate driver transistors, and pre-bias transistors; power management devices, such as AC-DC and DC-DC converters, digital isolators and isolated gate drivers, USB power switches, low dropout, photocoupler, and linear voltage regulators; standard linear devices, such as operational amplifiers and comparators, current monitors, voltage references, and reset generators; LED lighting drivers; audio amplifiers; and sensor products, including Hall-effect sensors and motor drivers. In addition, the company offers mixed-signal products comprising high speed mux/demux, digital switches, interface, redrivers, universal level shifters/voltage translators, clock ICs, and packet switches; low-voltage complementary metal-oxide-semiconductor (CMOS) and CMOS devices, as well as ultra-low power CMOS logic and analog switches; and multichip products, co-packaged discrete, analog, and mixed-signal silicon in miniature packages. Further, it provides silicon and silicon epitaxial wafers; frequency control products; and contact image sensors. The company serves industrial, automotive, computing, consumer, and communications end-markets through direct sales, marketing personnel, independent sales representatives, and distributors. Diodes Incorporated was incorporated in 1959 and is headquartered in Plano, Texas.

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3-Statement Financial Model
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📊 MIXED Diodes Q1 2026 revenue $405.5M, up 22% YoY; non-GAAP EPS $0.43; guides Q2 rev ~$435M.
Revenue & Profitability
Revenue in Q1 2026 was $405.5 million, up 22.1% year-over-year and 3.5% sequentially. Gross profit was $128.8 million (31.8% margin), GAAP net income $15 million ($0.32 per diluted share), and non-GAAP adjusted net income $19.8 million ($0.43 per diluted share). Cash flow from operations was $64.3 million, free cash flow $32.4 million.
Outlook
Management sees solid demand recovery across automotive, industrial, and AI server-related applications, with Europe leading growth. The company expects continued momentum through 2026, noting that demand is real and not driven by restocking. Improving visibility in automotive and industrial markets serves as a tailwind to near-term growth.
Growth Drivers
Key growth levers include automotive (up 32% year-over-year) driven by ADAS, electrification, and LED matrix drivers; industrial (up 31% year-over-year) led by AI infrastructure, factory automation, and power applications; and computing (up 21% year-over-year) from AI server and data center demand. Europe, followed by Asia, drove sequential growth.
Balance Sheet & CapEx
Capital expenditures in Q1 2026 were $31.9 million, or 7.9% of revenue, within the targeted annualized range of 5%-9%. Management is investing in internal wafer fab loading (Scotland and South Portland) and expects improved utilization in 2027-2028 as customer qualifications progress. Back-end facilities are nearly fully loaded.
Margins
Gross margin improved 70 basis points sequentially to 31.8% due to higher contribution from automotive and industrial (44% of product revenue) and improving utilization. Non-GAAP operating expenses were 25.6% of revenue. For Q2 2026, guidance includes GAAP gross margin of 32.8% ±1% and non-GAAP adjusted EPS of $0.60 ±$0.10.
Key Risks
Risks flagged include foreign currency losses ($3.4 million in Q1), impairment loss on equity investment ($1.2 million), and the need for ongoing customer qualifications for new process nodes. The company also noted potential supply disruption benefits and the importance of long-term supply commitments with customers.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Revenue grew 22% year-over-year and 10% sequentially, with record automotive and strong AI server demand. Gross margin and non-GAAP earnings improved, and the Elevate Semiconductor acquisition is expected to be immediately accretive. Q3 guidance projects continued double-digit growth.
Q1 2026 Q1 2026 2026-05-07
Revenue grew 22% year-over-year and 3.5% sequentially, driven by strong demand in automotive, industrial, and AI server markets. Gross margin and earnings improved, with Q2 guidance projecting continued double-digit growth and margin expansion.
Q4 2025 Q4 2025 2026-02-10
Fourth quarter and full year 2025 saw double-digit revenue growth, led by strong demand in AI server, automotive, and industrial markets. Gross margin improved, and management set ambitious three-year targets for revenue, profit, and EPS, with continued focus on product mix and manufacturing efficiency.
Q3 2025 Q3 2025 2025-11-06
Revenue rose 12% year-over-year, led by strong AI and computing demand, with Asia as the top region. Automotive and industrial segments grew, though recovery is gradual, and margin expansion is expected as product mix and factory loading improve.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 saw 14% year-over-year and 10% sequential revenue growth, with strong demand in Asia and across end markets, especially AI and EV applications. Gross margin held steady, and non-GAAP earnings rose nearly 70% sequentially. Q3 guidance projects continued double-digit growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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