Diodes Incorporated
DIOD Technology Semiconductors
Diodes Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 13.0% from fiscal 2024. In the quarter to June 2026, revenue grew 21.7%, EPS grew 3.03%, free cash flow grew 31.5% and total debt fell 25.0%, each against the same quarter a year earlier.
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Diodes Incorporated (DIOD) Altman Z-score
Diodes Incorporated's Altman Z-score for fiscal 2025 is 4.80, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.80 | (0.56) |
| FY2024 | 5.36 | (1.05) |
| FY2023 | 6.41 | 0.74 |
| FY2022 | 5.67 | 0.02 |
| FY2021 | 5.65 | 1.63 |
| FY2020 | 4.02 | (1.73) |
| FY2019 | 5.75 | 1.91 |
| FY2018 | 3.85 | 0.76 |
| FY2017 | 3.09 | 0.42 |
| FY2016 | 2.67 | 0.29 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.36 | — | 0.43 | |
| Retained earnings / total assets | 0.73 | — | 1.02 | |
| EBIT / total assets | 0.01 | — | 0.05 | |
| Market value of equity / total liabilities | 4.49 | — | 2.69 | |
| Sales / total assets | 0.61 | — | 0.61 | |
| Altman Z-score | Safe zone | 4.80 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.82 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| POWI Power Integrations, Inc. compare | 14.5× |
| CRUS Cirrus Logic, Inc. compare | 14.4× |
| NVTS Navitas Semiconductor Corporation compare | 14.0× |
| PI Impinj, Inc. compare | 9.2× |
| ALGM Allegro MicroSystems, Inc. compare | 8.5× |
| DIOD Diodes Incorporated | 4.8× |
| SYNA Synaptics Incorporated compare | 3.5× |
| IMOS Chipmos Technologies compare | 2.3× |
| VSH Vishay Intertechnology, Inc. compare | 1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets