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Diodes (DIOD) FY2025 results: revenue $1.5 billion, up 13.0% on the year

Diodes Inc. (DIOD) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 13.0% on the year before. Net income was $66 million, up 50.2%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2026.

Revenue
$1.5 billion
+13.0% on the year
FY2018FY2025
Operating margin
2.4%
3.8% a year earlier
FY2018FY2025
Net income
$66 million
+50.2% on the year
FY2018FY2025
Diluted EPS
$1.43
+50.5% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue1,4821,3111,662+13.0%
Cost of revenue1,0208751,004+16.5%
Gross profit462436658+6.1%
Gross margin31.2%33.2%39.6%
Research and development162134135+21.0%
Selling, general and administrative242234258+3.3%
Operating income35.550.5251-29.7%
Operating margin2.4%3.8%15.1%
Interest expense2.82.35.7+18.9%
Pre-tax income84.062.7278+33.9%
Income tax14.811.847.3+24.9%
Effective tax rate17.6%18.9%17.0%
Net income66.144.0227+50.2%
Net margin4.5%3.4%13.7%
Diluted EPS$1.43$0.95$4.91+50.5%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow216119281+80.4%
Capital expenditure78.473.0151+7.3%
Free cash flow13746.4130+195.5%
Free cash flow margin9.3%3.5%7.8%
Cash from investing-116-118-158
Cash from financing-54.8-19.3-145
Depreciation and amortisation144137137+4.8%
Share-based compensation25.722.830.9+13.1%
Buybacks33.80.00.0
Diluted shares, weighted46m46m46m+0.0%
Shares outstanding at period end46m46m46m-1.0%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity1,8781,7951,741+4.6%
Non-controlling interest60.373.668.9-18.1%
Debt55.952.162.1+7.4%
Operating lease liabilities28.928.627.3+0.8%
Finance lease liabilities0.10.10.1+27.0%
Other liabilities425437469-2.7%
Total liabilities and equity2,4482,3862,368+2.6%
Fixed assets650684746-5.1%
Goodwill183182147+1.0%
Intangible assets45.567.463.9-32.6%
Investments30.431.435.7-3.2%
Cash and equivalents367309315+19.0%
Receivables307326372-5.7%
Inventory472475390-0.7%
Other assets393313298+25.9%
Total assets2,4482,3862,368+2.6%

10-K for the year ended 31 December 2025, filed 10 February 2026: the filing.