Diodes (DIOD)
Market Price (2/20/2026): $67.23 | Market Cap: $3.1 BilSector: Information Technology | Industry: Semiconductors
Diodes (DIOD)
Market Price (2/20/2026): $67.23Market Cap: $3.1 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15% | Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -96% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.3% |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Artificial Intelligence, and Automation & Robotics. Themes include EV Manufacturing, Show more. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% | |
| Key risksDIOD key risks include [1] its heavy reliance on the volatile and cyclical semiconductor market, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Artificial Intelligence, and Automation & Robotics. Themes include EV Manufacturing, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -96% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.3% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksDIOD key risks include [1] its heavy reliance on the volatile and cyclical semiconductor market, Show more. |
Qualitative Assessment
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Diodes (DIOD) stock has gained about 25% since 10/31/2025 because of the following key factors:
1. Diodes Incorporated reported robust financial results for Q4 2025 and provided an optimistic outlook for Q1 2026, significantly exceeding analyst expectations. The company's adjusted earnings per share (EPS) for Q4 2025 reached $0.34, beating the consensus estimate of $0.26 to $0.27 by as much as 25.93%. Quarterly revenue was $391.6 million, surpassing estimates of $380.03 million to $384.89 million and marking a 15.4% year-over-year increase. Furthermore, Diodes issued strong revenue guidance for Q1 2026, projecting between $383.2 million and $406.9 million, which notably cleared the consensus estimate of $376 million.
2. The company demonstrated strong traction in key high-growth markets, particularly AI server applications and the automotive sector. Diodes reported a 25% growth in the computing market during 2025, primarily fueled by demand from artificial intelligence server-related applications. This was complemented by continued strong performance and increasing demand signals from both the automotive and industrial segments. New product releases, such as the automotive-compliant PI2MEQX2505Q MIPI D-PHY ReDriver for camera and ADAS systems, further reinforced the company's strategic focus on these expanding markets.
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1. Diodes Incorporated reported robust financial results for Q4 2025 and provided an optimistic outlook for Q1 2026, significantly exceeding analyst expectations. The company's adjusted earnings per share (EPS) for Q4 2025 reached $0.34, beating the consensus estimate of $0.26 to $0.27 by as much as 25.93%. Quarterly revenue was $391.6 million, surpassing estimates of $380.03 million to $384.89 million and marking a 15.4% year-over-year increase. Furthermore, Diodes issued strong revenue guidance for Q1 2026, projecting between $383.2 million and $406.9 million, which notably cleared the consensus estimate of $376 million.
2. The company demonstrated strong traction in key high-growth markets, particularly AI server applications and the automotive sector. Diodes reported a 25% growth in the computing market during 2025, primarily fueled by demand from artificial intelligence server-related applications. This was complemented by continued strong performance and increasing demand signals from both the automotive and industrial segments. New product releases, such as the automotive-compliant PI2MEQX2505Q MIPI D-PHY ReDriver for camera and ADAS systems, further reinforced the company's strategic focus on these expanding markets.
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Stock Movement Drivers
Fundamental Drivers
The 26.0% change in DIOD stock from 10/31/2025 to 2/19/2026 was primarily driven by a 20.8% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 53.36 | 67.24 | 26.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,388 | 1,482 | 6.8% |
| Net Income Margin (%) | 4.6% | 4.5% | -2.7% |
| P/E Multiple | 38.9 | 47.0 | 20.8% |
| Shares Outstanding (Mil) | 46 | 46 | 0.4% |
| Cumulative Contribution | 26.0% |
Market Drivers
10/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| DIOD | 26.0% | |
| Market (SPY) | 0.4% | 32.5% |
| Sector (XLK) | -6.7% | 32.3% |
Fundamental Drivers
The 36.2% change in DIOD stock from 7/31/2025 to 2/19/2026 was primarily driven by a 134.3% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.37 | 67.24 | 36.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,341 | 1,482 | 10.5% |
| Net Income Margin (%) | 1.9% | 4.5% | 134.3% |
| P/E Multiple | 89.6 | 47.0 | -47.6% |
| Shares Outstanding (Mil) | 46 | 46 | 0.4% |
| Cumulative Contribution | 36.2% |
Market Drivers
7/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| DIOD | 36.2% | |
| Market (SPY) | 8.6% | 41.2% |
| Sector (XLK) | 6.9% | 37.3% |
Fundamental Drivers
The 14.0% change in DIOD stock from 1/31/2025 to 2/19/2026 was primarily driven by a 14.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312025 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 58.98 | 67.24 | 14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,295 | 1,482 | 14.5% |
| Net Income Margin (%) | 4.7% | 4.5% | -5.4% |
| P/E Multiple | 44.7 | 47.0 | 5.0% |
| Shares Outstanding (Mil) | 46 | 46 | 0.3% |
| Cumulative Contribution | 14.0% |
Market Drivers
1/31/2025 to 2/19/2026| Return | Correlation | |
|---|---|---|
| DIOD | 14.0% | |
| Market (SPY) | 14.7% | 55.8% |
| Sector (XLK) | 22.1% | 55.9% |
Fundamental Drivers
The -24.6% change in DIOD stock from 1/31/2023 to 2/19/2026 was primarily driven by a -70.9% change in the company's Net Income Margin (%).| (LTM values as of) | 1312023 | 2192026 | Change |
|---|---|---|---|
| Stock Price ($) | 89.19 | 67.24 | -24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,985 | 1,482 | -25.3% |
| Net Income Margin (%) | 15.4% | 4.5% | -70.9% |
| P/E Multiple | 13.3 | 47.0 | 253.0% |
| Shares Outstanding (Mil) | 45 | 46 | -1.6% |
| Cumulative Contribution | -24.6% |
Market Drivers
1/31/2023 to 2/19/2026| Return | Correlation | |
|---|---|---|
| DIOD | -24.6% | |
| Market (SPY) | 74.7% | 55.7% |
| Sector (XLK) | 110.5% | 54.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DIOD Return | 56% | -31% | 6% | -23% | -20% | 37% | -4% |
| Peers Return | 44% | -14% | 29% | -9% | 6% | 24% | 91% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| DIOD Win Rate | 75% | 33% | 67% | 50% | 42% | 100% | |
| Peers Win Rate | 65% | 38% | 62% | 35% | 47% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| DIOD Max Drawdown | -2% | -44% | -20% | -34% | -44% | 0% | |
| Peers Max Drawdown | -1% | -29% | -5% | -18% | -31% | 0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ON, TXN, NXPI, MCHP, ADI. See DIOD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/19/2026 (YTD)
How Low Can It Go
| Event | DIOD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -46.0% | -25.4% |
| % Gain to Breakeven | 85.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.8% | -33.9% |
| % Gain to Breakeven | 78.0% | 51.3% |
| Time to Breakeven | 195 days | 148 days |
| 2018 Correction | ||
| % Loss | -28.6% | -19.8% |
| % Gain to Breakeven | 40.0% | 24.7% |
| Time to Breakeven | 147 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -90.1% | -56.8% |
| % Gain to Breakeven | 909.0% | 131.3% |
| Time to Breakeven | 3,261 days | 1,480 days |
Compare to ON, TXN, NXPI, MCHP, ADI
In The Past
Diodes's stock fell -46.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -46.0% loss requires a 85.1% gain to breakeven.
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About Diodes (DIOD)
Diodes Incorporated designs, manufactures, and supplies application-specific standard products in the discrete, logic, analog, and mixed-signal semiconductor markets worldwide. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and retifiers, and performance Schottky diodes; Zener and performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors. It also provides analog products, such as power management devices comprising AC-DC and DC-DC converters, USB power switches, and low dropout and linear voltage regulators; 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. The company offers mixed-signal products, such as high speed mux/demux products, digital switches, interfaces, redrivers, universal level shifters/voltage translator, clock ICs, and packet switches; standard logic products comprising low-voltage complementary metal–oxide–semiconductor (CMOS) and high-speed CMOS devices; ultra-low power CMOS logic products and analog switches; multichip products and co-packaged discrete, analog, and mixed-signal silicon in miniature packages; silicon and silicon epitaxial wafers; and crystals and oscillators. It sells its products to the consumer electronics, computing, communications, industrial, and automotive markets through direct sales, marketing personnel, independent sales representatives, and distributors. The company was incorporated in 1959 and is headquartered in Plano, Texas.
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```htmlHere are 1-3 brief analogies to describe Diodes (DIOD) succinctly:
- A more focused Texas Instruments (TI): They supply the essential power management and discrete components (like diodes, transistors, and voltage regulators) found in virtually all electronic devices, much like TI does across a broader spectrum.
- The "electrical plumbing" supplier for the tech world: Akin to a company like ON Semiconductor (ON), Diodes provides the foundational chips that manage power and signals, which are indispensable for everything from consumer gadgets to industrial equipment to function.
- The "nuts and bolts" semiconductor provider: Think of them as the company making the basic, yet critical, building block components – from simple logic gates to complex power controllers – that every electronic product needs, similar to a diversified Microchip Technology (MCHP).
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- Diodes: A comprehensive range of discrete diodes including rectifiers, Zener diodes, Schottky diodes, and transient voltage suppressors.
- Transistors: Various discrete transistors such as BJTs and MOSFETs used for switching and amplification in electronic circuits.
- Power Management ICs: Integrated circuits designed to efficiently regulate and control power in electronic devices, including LDOs, DC-DC converters, and LED drivers.
- Analog and Mixed-Signal Products: Circuits for signal conditioning, data conversion, and timing, encompassing amplifiers, comparators, voltage references, and clock ICs.
- Logic Devices: Standard integrated circuits that perform fundamental digital functions for processing and control in electronic systems.
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Diodes (Symbol: DIOD) - Major Customers
The public company Diodes (symbol: DIOD) sells primarily to other companies (business-to-business, or B2B), providing discrete, logic, analog, and mixed-signal semiconductors. Diodes Inc. does not disclose specific customer names that account for 10% or more of its consolidated net revenue in its public filings (such as its annual 10-K reports). This indicates a diversified customer base, meaning no single customer is considered a "major customer" requiring individual disclosure. Therefore, specific customer company names and their stock symbols cannot be listed. However, Diodes' products are integral components for manufacturers across various industries, which represent its primary customer categories:- Automotive Sector: Customers include manufacturers of vehicles and automotive electronics suppliers. Diodes' products are used in applications such as infotainment systems, advanced driver-assistance systems (ADAS), electric vehicle (EV) charging infrastructure, automotive lighting, and powertrain management.
- Industrial Sector: This category encompasses companies that produce a wide range of industrial equipment, including factory automation systems, power supplies, motor control units, building control systems, and medical devices.
- Consumer Electronics and Computing Sector: Customers here are manufacturers of diverse electronic devices, including smartphones, tablets, laptops, wearables, and home appliances. This sector also includes companies developing computing solutions such as servers, desktop PCs, and data storage systems.
- Communications Sector: This includes companies involved in developing networking equipment, base stations, and other infrastructure for wired and wireless communications.
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Gary Yu
Chief Executive Officer and President Mr. Yu was appointed Chief Executive Officer of Diodes Incorporated in May 2025, having served as President since January 2024. He joined Diodes in 2008 and has held various roles including Chief Operating Officer, Senior Vice President with responsibility for Business Groups and the integration of Lite-On Semiconductor Corporation, President of the Asia Pacific Region, and General Manager of the company's Shanghai wafer fabrication operation. Prior to Diodes, he spent over 10 years at Lite-On Semiconductor Corporation as Vice President of Worldwide Sales and held positions in IT, finance, and capacity planning at Texas Instruments.Brett Whitmire
Chief Financial Officer Mr. Whitmire assumed his current position as Chief Financial Officer in March 2019. With over 35 years of industry experience, he has been with Diodes for more than 14 years. Before becoming CFO, he was the Corporate Controller and Principal Accounting Officer, and previously the Director of Global Supply Chain. Mr. Whitmire served as Chief Financial Officer for the Analog & Sensors Division at Freescale Semiconductor. He began his career at Texas Instruments, where he held various finance and operations leadership roles, including seven years as Vice President for the High Volume Analog & Logic Division and as the corporate supply chain head.Francis Tang
Senior Vice President, Worldwide Discrete Products Mr. Tang was appointed Senior Vice President, Worldwide Discrete Products in November 2020, and prior to that, Vice President, Worldwide Discrete Products in 2006. He served as the company's Global Product Manager starting in 2005. Before joining Diodes, from 2002, Mr. Tang was the general manager of T2 Microelectronics in Shanghai, China, where he managed complex mixed-signal SOC product development. From 1996 to 2001, he was the senior strategic marketing director for Acer Labs, Inc.Andy (Kuo-Ting) Tsong
Senior Vice President, Worldwide Analog Products Mr. Tsong was appointed Senior Vice President, Worldwide Analog Products in March 2024. He joined Diodes in 2009 as Worldwide Design Engineering Manager for the Analog Business Group. He later led the acquired worldwide Pericom business in November 2015, serving as Division Manager for the Precision Timing and Connectivity organization. In November 2020, he was appointed regional President for the Asia Pacific region, overseeing non-manufacturing functions.Sheana Chen
Chief Legal Officer, Corporate Compliance Officer, and Vice President of Corporate Operations Ms. Chen joined Diodes in 2020 as Vice President, General Counsel, and Corporate Compliance Officer. In 2024, she took on additional responsibilities for worldwide corporate operations, including Sustainability, Human Resources, Supply Chain, and Global Procurement. Before Diodes, Ms. Chen was the Vice President, Assistant General Counsel with Texas Instruments and a Partner at Baker & McKenzie.AI Analysis | Feedback
The key risks to Diodes Incorporated's business are:
- Semiconductor Market Cyclicality and Dependence: Diodes' performance is heavily reliant on the semiconductor market, which is characterized by cyclical demand and pricing pressures. This inherent volatility can significantly impact the company's financial results and operations.
- Supply Chain Disruptions: The company faces risks related to potential disruptions in the supply of raw materials or components. Such disruptions can arise from geopolitical tensions, natural disasters, or other unforeseen events, affecting production capacity and delivery schedules.
- Technological Obsolescence and Intense Competition: Operating in the rapidly evolving semiconductor industry, Diodes Inc. is susceptible to technological obsolescence, where rapid advancements could render its existing products outdated. Additionally, the company navigates a highly competitive landscape with numerous established and emerging players, necessitating continuous innovation to maintain market share.
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The emergence and increasing adoption of Wide Bandgap (WBG) semiconductors like Gallium Nitride (GaN) and Silicon Carbide (SiC) is a clear emerging threat. These materials offer superior performance in power electronics, leading to smaller, more efficient, and higher-power-density solutions compared to traditional silicon-based devices that form a significant part of Diodes' product portfolio. This trend is particularly evident and accelerating in high-growth markets such as electric vehicles (EVs), renewable energy infrastructure, data centers, and 5G telecommunications, potentially eroding Diodes' market share in these critical areas if they do not sufficiently adapt or expand their own WBG offerings.
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Diodes Incorporated (DIOD) operates in various semiconductor markets, providing discrete, analog, logic, and mixed-signal products to a range of end-user industries. The addressable markets for their main products and services are substantial and globally distributed.
Main Product Market Sizes (Global)
-
Discrete Semiconductors: The global discrete semiconductor market was valued at approximately USD 56.26 billion in 2023 and is projected to reach USD 111.62 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.01%. Another source indicates a market size of USD 50.1 billion in 2023, expected to reach USD 119.7 billion by 2033, with a CAGR of 9.1%.
- Power Discrete Semiconductors: This segment, a core part of discrete semiconductors, was valued at approximately USD 20 billion in 2023 and is projected to reach USD 35 billion by 2032, with a CAGR of 6.5%. The broader power discrete and modules market was valued at USD 29.8 billion in 2024 and is expected to reach USD 53.4 billion by 2034, growing at a CAGR of 6.1%.
- TVS Diodes: The global TVS diodes market was valued at USD 2.35 billion in 2024 and is set to reach USD 3.6 billion by 2034, expanding at a CAGR of 4.37% from 2025 to 2034. Another report estimates the TVS and ESD Protection Diodes market size at USD 2267.79 million in 2024, projected to reach USD 3545.97 million by 2033, registering a CAGR of 4.8%.
- MOSFETs: Within the power discrete and modules market, the MOSFET segment alone was valued at USD 8.7 billion in 2024.
-
Analog Semiconductors: The global analog semiconductor market size was valued at USD 101.22 billion in 2024 and is projected to increase to approximately USD 180.24 billion by 2034, expanding at a CAGR of 5.94% from 2025 to 2034. Another source reported the market size at USD 87.5 billion in 2024, estimated to grow at a 7.4% CAGR from 2025 to 2034.
- Power Management ICs (PMICs): The global power management IC market size was USD 40.86 billion in 2024 and is expected to exceed USD 79.11 billion by 2034, with a CAGR of 6.83% from 2025 to 2034. Another estimate places the PMIC market at USD 38.2 billion in 2024, projected to reach USD 59.1 billion by 2030 with a CAGR of around 7.6%.
- Logic Semiconductors: The global logic semiconductor market size accounted for USD 140.7 billion in 2024 and is predicted to increase to approximately USD 231.38 billion by 2034, expanding at a CAGR of 5.10% from 2025 to 2034. Another report indicates a market size of USD 132.68 billion in 2024, projected to reach USD 218.52 billion by 2033, growing at a CAGR of 6.1%.
- Mixed-Signal ICs: The global mixed-signal IC market size was valued at USD 127.5 billion in 2024 and is estimated to reach USD 188.7 billion by 2033, exhibiting a CAGR of 4.5% during 2025-2033. Another valuation states the market at USD 129.04 billion in 2024, projected to increase to USD 211.20 billion by 2034 with a CAGR of 5.05%.
Main End-User Market Sizes (Global for Semiconductor Content)
- Automotive Market: The global automotive semiconductor market is expected to reach US$78 billion in 2025. It was valued at USD 59.7 billion in 2022 and is projected to reach USD 153.9 billion by 2032, with a CAGR of 10.1% from 2023 to 2032. Another source estimates the market to grow from USD 100.48 billion in 2025 to USD 142.87 billion in 2030, with a 7.29% CAGR.
- Industrial Market: The global industrial semiconductors market was valued at USD 88.74 billion in 2024 and is expected to reach USD 235.08 billion by 2032, growing at a CAGR of 12.95% from 2025 to 2032. Another analysis projects the industrial semiconductors market to grow from USD 103.52 billion in 2024 to USD 416.95 billion by 2035, with a CAGR of 13.5%.
- Consumer Electronics Market: The consumer electronics semiconductor market size is estimated at USD 99.93 billion in 2025 and is forecast to reach USD 140.75 billion by 2030, advancing at a 7.09% CAGR. The semiconductor device market in the consumer industry is projected to reach approximately USD 150 billion by 2033, growing at a CAGR of 6.5% from 2025 to 2033. Semiconductor device revenue for the mobile and consumer segments reached $296 billion in 2023 and is expected to reach $383 billion in 2030.
- Communications Market: While a specific "communications semiconductor market" size was not explicitly found across global reports, the telecommunications segment within the analog semiconductors market is expected to reach USD 11.1 billion by 2034. Furthermore, the deployment of 5G infrastructure and IoT technologies are significant drivers across various semiconductor markets including discrete, analog, logic, and mixed-signal, indicating a substantial addressable market within communications.
- Computing Market: The computing semiconductor market, which includes devices for desktops, laptops, and tablets, is expected to reach $121 billion in 2030. The computing segment accounted for 28% of Diodes' product revenue in Q3 2025, driven by AI-related server applications, data centers, and edge computing.
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```htmlExpected Drivers of Future Revenue Growth for Diodes (DIOD)
Diodes Inc. (DIOD) is strategically positioned for future revenue growth over the next 2-3 years, driven by several key factors:
- Expansion in Automotive and Industrial End Markets: Diodes is consistently focused on increasing its market share and content within the automotive and industrial sectors, which are recognized for their higher margins and stable demand. The company is actively launching new programs in the automotive space and expanding its presence in industrial applications such as AI robotics, power management, medical, and factory automation.
- Growing Demand in AI-related Computing Applications: Strong demand from AI-related server applications, data centers, and edge computing is a significant catalyst for revenue growth, particularly with robust performance observed in the Asian market.
- New Product Introductions and Innovation: Diodes continues to prioritize new product initiatives, with a notable focus on introducing new part numbers, including those specifically designed for automotive applications. This strategy aims to enhance its product portfolio and capture additional market opportunities across its target segments.
- Strong Demand and Growth in Asia: The company has observed strong demand and growth in Asia, particularly in regions like Taiwan and China, driven by AI computing applications. This geographic strength is a significant contributor to Diodes' overall global point of sales.
- Favorable Product Mix Optimization: Management anticipates future margin expansion, which will be propelled by an ongoing improvement in the product mix. This improvement is expected as the recovery gains momentum in the higher-margin automotive and industrial end markets, indicating a strategic shift towards more profitable product offerings.
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Share Repurchases
- In May 2025, Diodes Incorporated announced a new share repurchase program authorizing up to $100 million of its outstanding common stock.
- This program is set to expire on December 31, 2030, unless extended or shortened by the Board of Directors.
- The authorization reflects the company's strong cash flow generation, healthy balance sheet, and commitment to delivering shareholder value.
Share Issuance
- The company's outstanding common stock increased from 45,938,382 shares at December 31, 2023, to 46,332,891 shares at December 31, 2024.
- For the full year 2024, the share count used to compute GAAP diluted EPS was 46.4 million shares.
- Non-cash share-based compensation expense was approximately $5.3 million (net of tax) for the fourth quarter of 2024.
Outbound Investments
- In 2020, Diodes acquired Lite-On Semiconductor Corporation for approximately $453.4 million, completed on November 30, 2020.
- In 2022, Diodes completed the acquisition of onsemi's South Portland, Maine wafer fabrication facility and its operations.
- In 2024, Diodes acquired Fortemedia, Inc. for $60.4 million to expand its product portfolio in advanced voice processing technologies, targeting the automotive and compute markets.
Capital Expenditures
- Cash capital expenditures for the full year 2024 were $73.0 million, primarily focused on manufacturing expansion.
- In 2021, Diodes invested $141.2 million in capital expenditures to support its future expected growth.
- For the first quarter of 2025, capital expenditures were reported at $16.3 million.
Latest Trefis Analyses
Trade Ideas
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| 01302026 | FICO | Fair Isaac | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -8.1% | -8.1% | -9.2% |
| 10312023 | DIOD | Diodes | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.2% | -6.0% | -9.9% |
| 04302022 | DIOD | Diodes | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -0.9% | 9.1% | -16.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 147.61 |
| Mkt Cap | 50.1 |
| Rev LTM | 8,508 |
| Op Inc LTM | 1,876 |
| FCF LTM | 1,594 |
| FCF 3Y Avg | 1,676 |
| CFO LTM | 2,040 |
| CFO 3Y Avg | 2,491 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.1% |
| Rev Chg 3Y Avg | -5.9% |
| Rev Chg Q | 12.9% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Mgn LTM | 18.7% |
| Op Mgn 3Y Avg | 25.4% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 25.1% |
| CFO/Rev 3Y Avg | 27.0% |
| FCF/Rev LTM | 16.7% |
| FCF/Rev 3Y Avg | 16.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 50.1 |
| P/S | 7.2 |
| P/EBIT | 45.9 |
| P/E | 43.3 |
| P/CFO | 26.5 |
| Total Yield | 2.3% |
| Dividend Yield | 1.4% |
| FCF Yield 3Y Avg | 3.7% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 14.6% |
| 3M Rtn | 52.8% |
| 6M Rtn | 22.5% |
| 12M Rtn | 20.2% |
| 3Y Rtn | 14.8% |
| 1M Excs Rtn | 13.6% |
| 3M Excs Rtn | 45.8% |
| 6M Excs Rtn | 16.9% |
| 12M Excs Rtn | 14.5% |
| 3Y Excs Rtn | -51.5% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $67.24 | |
| Market Cap ($ Bil) | 3.1 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -13.8% | |
| 50 Days | 200 Days | |
| DMA Price | $56.66 | $52.45 |
| DMA Trend | up | up |
| Distance from DMA | 18.7% | 28.2% |
| 3M | 1YR | |
| Volatility | 67.4% | 57.9% |
| Downside Capture | -66.06 | 133.18 |
| Upside Capture | 211.42 | 133.97 |
| Correlation (SPY) | 28.2% | 56.4% |
DIOD Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.49 | 1.73 | 1.94 | 2.25 | 1.67 | 1.72 |
| Up Beta | 4.17 | 2.60 | 3.67 | 3.57 | 1.60 | 1.62 |
| Down Beta | 0.90 | 1.05 | 1.63 | 2.12 | 2.01 | 1.79 |
| Up Capture | 319% | 350% | 198% | 219% | 173% | 365% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 21 | 29 | 59 | 120 | 364 |
| Down Capture | -75% | 69% | 131% | 168% | 130% | 112% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 20 | 32 | 65 | 128 | 385 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DIOD | |
|---|---|---|---|---|
| DIOD | 26.7% | 57.9% | 0.62 | - |
| Sector ETF (XLK) | 16.4% | 27.5% | 0.53 | 56.3% |
| Equity (SPY) | 13.0% | 19.4% | 0.51 | 56.3% |
| Gold (GLD) | 71.2% | 25.5% | 2.08 | 6.5% |
| Commodities (DBC) | 7.3% | 16.9% | 0.25 | 27.2% |
| Real Estate (VNQ) | 6.4% | 16.7% | 0.20 | 31.9% |
| Bitcoin (BTCUSD) | -30.2% | 44.9% | -0.66 | 22.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DIOD | |
|---|---|---|---|---|
| DIOD | -2.8% | 45.5% | 0.09 | - |
| Sector ETF (XLK) | 16.1% | 24.8% | 0.59 | 64.6% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 63.5% |
| Gold (GLD) | 22.0% | 17.1% | 1.05 | 10.5% |
| Commodities (DBC) | 11.0% | 19.0% | 0.47 | 15.9% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 42.1% |
| Bitcoin (BTCUSD) | 6.9% | 57.1% | 0.34 | 27.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DIOD | |
|---|---|---|---|---|
| DIOD | 14.7% | 42.4% | 0.47 | - |
| Sector ETF (XLK) | 23.2% | 24.2% | 0.87 | 63.8% |
| Equity (SPY) | 15.8% | 17.9% | 0.76 | 62.9% |
| Gold (GLD) | 15.0% | 15.6% | 0.80 | 5.1% |
| Commodities (DBC) | 8.7% | 17.6% | 0.41 | 21.5% |
| Real Estate (VNQ) | 6.8% | 20.7% | 0.29 | 41.5% |
| Bitcoin (BTCUSD) | 67.7% | 66.7% | 1.07 | 19.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/10/2026 | 26.4% | 10.0% | |
| 11/6/2025 | -14.5% | -13.1% | -0.8% |
| 8/7/2025 | 7.9% | 14.3% | 12.9% |
| 5/8/2025 | 12.1% | 21.4% | 27.5% |
| 2/11/2025 | 3.1% | 12.0% | -9.9% |
| 11/7/2024 | 2.3% | -12.4% | 0.6% |
| 8/8/2024 | 7.5% | 10.7% | 1.0% |
| 5/9/2024 | -9.4% | -5.3% | -6.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 15 |
| # Negative | 11 | 13 | 9 |
| Median Positive | 4.5% | 9.6% | 7.8% |
| Median Negative | -5.2% | -3.9% | -8.3% |
| Max Positive | 26.4% | 21.4% | 27.5% |
| Max Negative | -14.5% | -13.1% | -33.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/10/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/09/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/10/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lu, Keh Shew | Lu Grandchildren's Trust | Sell | 11132025 | 47.40 | 3,905 | 185,086 | 12,886,635 | Form | |
| 2 | Lu, Keh Shew | Texastac Investments, LP | Sell | 11132025 | 47.46 | 2,095 | 99,419 | 11,597,909 | Form | |
| 3 | Yang, Emily | SVP Worldwide Sales/Marketing | Direct | Sell | 8282025 | 56.36 | 1,000 | 56,360 | 3,352,236 | Form |
| 4 | Whitmire, Brett R | CFO | Direct | Sell | 8282025 | 55.90 | 2,000 | 111,790 | 2,726,390 | Form |
| 5 | Yang, Emily | SVP Worldwide Sales/Marketing | Direct | Sell | 8212025 | 53.22 | 1,000 | 53,217 | 3,218,535 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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