Diodes Incorporated (DIOD) Q4 2025 Financial Results Summary
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Diodes Incorporated (DIOD) Q4 2025 Financial Results Summary
Released on February 10, 2026, Diodes Incorporated (Nasdaq: DIOD) has reported its financial results for the fourth quarter ending December 31, 2025.
Fourth Quarter Highlights
- Revenue:
- $391.6 million, an increase of 15.4% compared to $339.3 million in Q4 2024.
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Slight decrease of 0.2% vs. $392.2 million from the prior quarter.
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GAAP Gross Profit:
- $121.9 million, compared to $110.9 million in Q4 2024—an increase of 9.0%.
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Margin at 31.1%, down from 32.7% in Q4 2024 and improved from 30.7% in the previous quarter.
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GAAP Net Income:
- $10.2 million, up from $8.2 million in Q4 2024, reflecting an increase of 24.4%.
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Decline from $14.3 million in the previous quarter.
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Non-GAAP Adjusted Net Income:
- $15.7 million, an increase of 25.6% from $12.5 million in Q4 2024.
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Decrease from $17.2 million in the prior quarter.
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GAAP Earnings Per Share (EPS):
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$0.22 per diluted share, compared to $0.18 in Q4 2024 (an increase of 22.2%) and down from $0.31 in the prior quarter.
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Non-GAAP EPS:
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$0.34 per diluted share, an increase of 25.9% from $0.27 in Q4 2024 and down from $0.37 in the previous quarter.
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EBITDA:
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$41.9 million, or 10.7% of revenue; increased from $40.7 million in Q4 2024 (2.9% growth) but down from $46.6 million in the prior quarter.
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Cash Flow:
- Cash flow from operations of $38.1 million; free cash flow totaled $12.4 million after $25.7 million in capital expenditures.
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Net cash flow was negative by $9.7 million, which included $23.8 million for the stock buyback program.
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Full Year Performance:
- Total revenue for 2025 was $1.48 billion, representing an increase of 13.1% compared to $1.31 billion in 2024.
- Net cash flow for the year was positive at $57.6 million, including $33.8 million for stock buybacks.
- Full-year cash flow from operations increased significantly to $215.5 million.
Share Repurchase and Dividend
- Diodes Incorporated engaged in a stock buyback program, spending $23.8 million in the fourth quarter.
- There was no mention of a declared quarterly dividend in the report.
Balance Sheet Highlights (as of December 31, 2025)
- Cash and cash equivalents: Approximately $382 million.
- Total debt: Approximately $56 million.
- Working capital: Estimated at $879 million.
Business Outlook
- For Q1 2026, Diodes anticipates revenue to be approximately $395 million, signifying a year-over-year increase of 19%.
- Expected GAAP gross margin of 31.5% and non-GAAP operating expenses of about 26.5% of revenue.
Summary Metrics
- Revenue Growth: +15.4% YoY
- GAAP Net Income Growth: +24.4% YoY
- Non-GAAP EPS Growth: +25.9% YoY
- Free Cash Flow: $12.4 million
- Stock Buyback Program: $23.8 million
The results above indicate an upward trend for Diodes Incorporated, driven by substantial increases in demand across key markets, particularly in the computing, automotive, and industrial sectors. The management remains positive regarding sustained growth following their segmented revenue improvement strategy.
Here are the extracted tables from the provided press release:
DIODES INCORPORATED AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited)
| Three Months Ended | Twelve Months Ended | |||
|---|---|---|---|---|
| December 31, | December 31, | |||
| 2025 | 2024 | 2025 | 2024 | |
| $391,578 | $339,298 | $1,482,073 | $1,311,120 | |
| 269,648 | 228,414 | 1,019,637 | 875,258 | |
| 121,930 | 110,884 | 462,436 | 435,862 | |
| Selling, general and | 62,939 | 62,323 | 241,606 | 233,913 |
| Research and development | 41,150 | 33,207 | 162,175 | 134,051 |
| Amortization of | 4,714 | 5,002 | 22,227 | 16,499 |
| Loss (Gain) on disposal | (128) | (2,116) | 572 | (7,641) |
| Restructuring charge | 51 | 552 | 394 | 8,591 |
| Other operating expense | (1) | (1) | – | (1) |
| Total operating expense | 108,725 | 98,967 | 426,974 | 385,412 |
| Income from operations | 13,205 | 11,917 | 35,462 | 50,450 |
| Interest income | 6,980 | 4,920 | 28,304 | 18,303 |
| Interest expense | (1,300) | (494) | (2,776) | (2,334) |
| Foreign currency (loss) | (2,875) | (3,656) | (12,818) | (6,308) |
| Unrealized gain on | 557 | (1,631) | 28,561 | (321) |
| Impairment of equity | – | – | (5,817) | – |
| Gain on disposal of | – | – | 13,730 | – |
| Other income (expense) | (2,096) | 1,214 | (687) | 2,892 |
| Total other income | 1,266 | 353 | 48,497 | 12,232 |
| Income before income | 14,471 | 12,270 | 83,959 | 62,682 |
| Income tax provision | 2,151 | 2,041 | 14,789 | 11,840 |
| Net income | 12,320 | 10,229 | 69,170 | 50,842 |
| Less net income | (2,118) | (1,988) | (3,029) | (6,818) |
| Net income attributable | $10,202 | $8,241 | $66,141 | $44,024 |
| Earnings per share | $0.22 | $0.18 | $1.43 | $0.95 |
| Diluted | $0.22 | $0.18 | $1.43 | $0.95 |
| Number of shares used in | 46,208 | 46,333 | 46,340 | 46,208 |
| Diluted | 46,251 | 46,397 | 46,414 | 46,408 |
DIODES INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited)
| Assets | December 31, 2025 | December 31, 2024 |
|---|---|---|
| Cash and cash equivalents | $367,212 | $308,671 |
| Restricted Cash | 5,134 | 6,053 |
| Short-term investments | 9,817 | 7,464 |
| Accounts receivable, net of allowances of $4,095 and $7,799 at December 31, 2025 and December 31, 2024, respectively | 307,055 | 325,517 |
| Inventories | 471,546 | 474,948 |
| Prepaid expenses and other | 96,198 | 101,500 |
| Total current assets | 1,256,962 | 1,224,153 |
| Property, plant and equipment, net | 649,605 | 684,259 |
| Deferred income tax | 59,297 | 51,974 |
| Goodwill | 183,437 | 181,555 |
| Intangible assets, net | 45,455 | 67,397 |
| Other long-term assets | 253,344 | 176,943 |
| Total assets | $2,448,100 | $2,386,281 |
| Liabilities | ||
| Line of credit | $30,264 | $31,429 |
| Accounts payable | 149,376 | 133,765 |
| Accrued liabilities | 180,922 | 186,576 |
| Income tax payable | 16,336 | 22,730 |
| Current portion of long-term debt | 1,442 | 1,096 |
| Total current liabilities | 378,340 | 375,596 |
| Long-term debt, net of current portion | 24,224 | 19,563 |
| Deferred tax liabilities | 6,145 | 6,953 |
| Unrecognized tax benefits | 23,454 | 24,646 |
| Other long-term liabilities | 77,528 | 90,576 |
| Total liabilities | 509,691 | 517,334 |
| Commitments and contingencies | ||
| Stockholders’ equity | ||
| Common stock – par value $0.66 2/3 per share; 70,000,000 shares authorized; 45,875,799 and 46,332,891, issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 37,259 | 37,083 |
| Additional paid-in capital | 538,087 | 523,744 |
| Retained earnings | 1,785,439 | 1,719,298 |
| Treasury stock, at cost, 10,008,905 and 9,288,420 shares held at December 31, 2025 and December 31, 2024 | (371,914) | (338,100) |
| Accumulated other comprehensive loss | (110,747) | (146,724) |
| Total stockholders’ equity | 1,878,124 | 1,795,301 |
| Noncontrolling interest | 60,285 | 73,646 |
| Total equity | 1,938,409 | 1,868,947 |
| Total liabilities and stockholders’ equity | $2,448,100 | $2,386,281 |