Power Integrations, Inc.

power.com

What Do They Do?

Sells integrated circuits and other electronic components for high-voltage power conversion to electronics makers and power-supply manufacturers.

How Do They Make Money?

Original equipment manufacturers, power-supply manufacturers and distributors buy its products; it invoices each delivery upon shipment, and standard payment terms are less than one year.

FY2025 revenue

Who Are Their Customers?

Original equipment manufacturers and merchant power-supply manufacturers buy directly or through sales representatives and distributors; distributors also resell products to those manufacturers.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 20 cents into free cash flow.

Operating income, FY2025

2% of revenue

▼ −43% vs FY2024 ($17.9M, 4%)

Net income, FY2025

5% of revenue

▼ −31% vs FY2024 ($32.2M, 8%)

Free cash flow, FY2025

20% of revenue

▲ +36% vs FY2024 ($63.9M, 15%)

How Are They Changing?

Since the FY2025 annual report

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

Revenue: ▲ +3%; vs $115.9M in Q2 FY2025
Net income: ▲ +618%; vs $1.4M in Q2 FY2025

May 7, 2026 Issued second-quarter revenue and operating-margin guidance The company forecast second-quarter revenue of $115 million to $120 million and GAAP operating margin of 5.5 percent to 7.5 percent.

Shrinking. Revenue fell 37% in 4 years, from $703.3M in FY2021 to $443.5M in FY2025, about 11% a year.

Who Do They Compete With?

Competes with STMicroelectronics, Infineon Technologies, Sanken Electric, NXP Semiconductors, Texas Instruments, Diodes, On-Bright Electronics, MediaTek, Renesas Electronics, Southchip Semiconductor, Chipown Microelectronics, Hangzhou Silan Microelectronics, InnoScience, Navitas Semiconductor, Mitsubishi Electric, Fuji Electric, Semikron, Hangzhou Firstack Technology, ON Semiconductor, and Mitsubishi

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