Diodes (DIOD) Q3 FY2026 earnings: revenue $533 million, up 35.8% on the year

Diodes Inc. (DIOD) reported revenue of $533 million for Q3 FY2026, the quarter ended 30 September 2026, up 35.8% on the same quarter a year earlier. Net income was $44 million, up 206.1% on the year, and diluted earnings per share $0.95. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$533 million

+35.8% on the year · +19.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

11.9%

3.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

$44 million

+206.1% on the year · -6.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.95

+206.5% on the year · -5.0% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Revenue rose 35.8% year over year: Revenue was $532.6 million, up from $392.2 million a year earlier and up 19.5% from $445.5 million in the second quarter 2026.
Non-GAAP EPS rose 219% year over year: Non-GAAP diluted EPS was $1.18, compared with $0.37 a year earlier and $0.70 in the prior quarter. GAAP diluted EPS was $0.95.
GAAP gross margin up 540 basis points: GAAP gross margin was 36.1%, up from 30.7% a year earlier and 33.1% in the prior quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	533	446	392	+19.5%	+35.8%
Cost of revenue	340	298	272	+14.1%	+25.2%
Gross profit	192	148	120	+30.4%	+59.7%
Gross margin	36.1%	33.1%	30.7%
Research and development	43.9	40.7	41.9	+7.9%	+4.8%
Selling, general and administrative	80.2	69.8	60.5	+15.0%	+32.6%
Operating income	63.4	33.3	11.6	+90.5%	+448.0%
Operating margin	11.9%	7.5%	3.0%
Interest expense	0.8	0.3	0.5	+143.4%	+61.6%
Pre-tax income	63.0	58.0	19.0	+8.6%	+230.9%
Income tax	14.1	6.8	3.6	+105.8%	+296.4%
Effective tax rate	22.4%	11.8%	18.7%
Net income	43.7	46.6	14.3	-6.3%	+206.1%
Net margin	8.2%	10.5%	3.6%
Diluted EPS	$0.95	$1.00	$0.31	-5.0%	+206.5%

$ million except per share.

Free 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

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	97.2	68.5	79.1	+41.9%	+22.8%
Capital expenditure	53.2	33.6	16.3	+58.3%	+226.2%
Free cash flow	43.9	34.8	62.8	+26.0%	-30.1%
Free cash flow margin	8.2%	7.8%	16.0%
Cash from investing	-270	-38.5	-15.4
Cash from financing	304	-0.9	-0.7
Depreciation and amortisation	35.9	35.2	36.7	+1.9%	-2.2%
Share-based compensation	9.4	11.3	6.8	-16.7%	+37.7%
Buybacks	35.0	n/a	0.0
Diluted shares, weighted	46m	46m	46m	-0.4%	-0.4%
Shares outstanding at period end	46m	46m	46m	-0.4%	-1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,949	1,952	1,889	-0.2%	+3.2%
Non-controlling interest	72.8	70.0	58.3	+4.0%	+25.0%
Debt	405	40.5	58.0	+899.6%	+597.2%
Operating lease liabilities	52.2	36.7	31.4	+42.2%	+66.4%
Finance lease liabilities	n/a	n/a	0.1
Other liabilities	612	484	433	+26.5%	+41.4%
Total liabilities and equity	3,091	2,583	2,470	+19.6%	+25.1%
Fixed assets	688	661	657	+4.0%	+4.7%
Goodwill	263	183	183	+44.1%	+43.6%
Intangible assets	231	37.5	50.3	+516.4%	+360.3%
Investments	48.0	52.1	9.8	-7.8%	+389.3%
Cash and equivalents	563	430	377	+30.9%	+49.6%
Receivables	348	310	304	+12.3%	+14.7%
Inventory	535	505	471	+6.0%	+13.6%
Other assets	414	405	418	+2.2%	-1.0%
Total assets	3,091	2,583	2,470	+19.6%	+25.1%

Questions

What was Diodes' revenue in Q3 FY2026?

Diodes (DIOD) reported revenue of $533 million for Q3 FY2026, the quarter ended 30 September 2026, up 35.8% on the same quarter a year earlier.

How much did Diodes earn in Q3 FY2026?

Net income for Q3 FY2026 was $44 million, up 206.1% on the year, and diluted earnings per share $0.95.

When did Diodes report Q3 FY2026 results?

Diodes filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	480	482	501	521	496	467	467	405	323	302	320	350	339	332	366	392	392	405	446	533
Cost of revenue	289	285	294	303	290	273	272	249	210	202	212	232	228	227	251	272	270	277	298	340
Gross profit	191	197	207	218	206	194	195	156	112	99.6	107	118	111	105	115	120	122	129	148	192
Gross margin	40%	41%	41%	42%	42%	42%	42%	39%	35%	33%	34%	34%	33%	32%	31%	31%	31%	32%	33%	36%
R&D	30.1	28.7	30.8	32.8	34.1	33.2	34.6	34.1	33.0	34.0	33.2	33.7	33.2	38.6	40.5	41.9	41.1	40.6	40.7	43.9
SG&A	71.0	71.4	69.1	68.5	71.8	71.0	67.5	63.0	56.5	53.7	58.5	59.4	62.3	58.7	59.5	60.5	62.9	64.3	69.8	80.2
Operating income	86.0	93.1	106	112	96.5	86.4	89.6	53.9	20.7	12.9	3.7	21.9	11.9	1.3	9.4	11.6	13.2	19.8	33.3	63.4
Operating margin	18%	19%	21%	22%	19%	18%	19%	13%	6%	4%	1%	6%	4%	0%	3%	3%	3%	5%	7%	12%
Interest expense	1.2	1.1	1.6	2.7	2.9	2.1	2.2	0.9	0.5	0.5	0.9	0.5	0.5	0.5	0.5	0.5	1.3	0.7	0.3	0.8
Pre-tax income	109	90.8	101	109	94.8	88.6	101	60.5	27.9	18.8	12.8	18.8	12.3	-2.8	53.2	19.0	14.5	22.4	58.0	63.0
Tax rate	39%	18%	18%	18%	1%	19%	17%	18%	10%	19%	21%	19%	17%	n/a	17%	19%	15%	18%	12%	22%
Net income	65.5	72.7	80.2	86.4	92.1	71.2	82.0	48.7	25.3	14.0	8.0	13.7	8.2	-4.4	46.1	14.3	10.2	15.0	46.6	43.7
Net margin	14%	15%	16%	17%	19%	15%	18%	12%	8%	5%	3%	4%	2%	-1%	13%	4%	3%	4%	10%	8%
Diluted EPS	$1.41	$1.59	$1.75	$1.88	$2.00	$1.54	$1.77	$1.05	$0.55	$0.30	$0.17	$0.30	$0.18	-$0.10	$0.99	$0.31	$0.22	$0.32	$1.00	$0.95
Operating cash flow	77.6	72.3	85.0	132	103	99.8	92.6	50.1	38.4	-31.1	14.4	54.4	81.8	56.7	41.5	79.1	38.1	64.3	68.5	97.2
Capital expenditure	55.0	38.5	39.6	69.8	63.8	48.0	37.0	38.5	27.3	20.4	17.9	15.0	19.7	15.9	20.4	16.3	25.7	31.9	33.6	53.2
Free cash flow	22.5	33.8	45.5	62.4	39.1	51.8	55.6	11.6	11.1	-51.5	-3.5	39.4	62.1	40.8	21.1	62.8	12.4	32.4	34.8	43.9
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	35.0
Shares outstanding	45m	45m	45m	45m	45m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m	46m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.