Diodes Incorporated

diodes.com

What Do They Do?

Sells discrete, analog and mixed-signal semiconductor products for automotive, industrial, computing, consumer electronics and communications markets.

How Do They Make Money?

Customers and distributors pay for semiconductor products, generally when the products ship or are delivered, depending on the sales order; most sales are one-time product sales.

revenue

Segment	Share	Revenue
Customer 1	12%
Customer 2	11%

Who Are Their Customers?

Most customers buy through distributors; some manufacturers buy directly, and the company also sells through independent sales representatives. Its products are used in automotive, industrial, computing, communications and consumer applications.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.

Operating income, FY2025

2% of revenue

▼ −30% vs FY2024 ($50.5M, 4%)

Net income, FY2025

4% of revenue

▲ +50% vs FY2024 ($44M, 3%)

Free cash flow, FY2025

9% of revenue

▲ +196% vs FY2024 ($46.4M, 4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +22%; vs $366.2M in Q2 FY2025
Net income: ▲ +1%; vs $46.1M in Q2 FY2025

Customer 1 share of revenue vs 12.5% in Q2 FY2025

Aug 27, 2026 Diodes completed its acquisition of ElevATE Semiconductor The acquisition adds analog and mixed-signal products for semiconductor test applications.

Shrinking. Revenue fell 18% in 4 years, from $1.8B in FY2021 to $1.5B in FY2025, about 5% a year.

Revenue over time

Customer 1 Customer 2

$2B$1B$0

FY2023 FY2024 FY2025

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