Power Integrations, Inc.
POWI Technology Semiconductors
Power Integrations, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $443.5 million, up 5.86% from fiscal 2024. In the quarter to June 2026, revenue grew 2.66%, EPS grew 800.0% and free cash flow fell 23.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Power Integrations, Inc. (POWI) Altman Z-score
Power Integrations, Inc.'s Altman Z-score for fiscal 2025 is 14.47, 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 | 14.47 | (14.61) |
| FY2024 | 29.09 | (15.22) |
| FY2023 | 44.31 | 11.59 |
| FY2022 | 32.72 | (3.12) |
| FY2021 | 35.85 | 1.84 |
| FY2020 | 34.01 | 8.97 |
| FY2019 | 25.04 | 4.99 |
| FY2018 | 20.04 | (0.20) |
| FY2017 | 20.24 | (5.13) |
| FY2016 | 25.37 | 8.76 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.50 | — | 0.60 | |
| Retained earnings / total assets | 0.87 | — | 1.22 | |
| EBIT / total assets | 0.01 | — | 0.04 | |
| Market value of equity / total liabilities | 20.05 | — | 12.03 | |
| Sales / total assets | 0.57 | — | 0.57 | |
| Altman Z-score | Safe zone | 14.47 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 13.34 | ||
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. | 14.5× |
| NVTS Navitas Semiconductor Corporation compare | 14.0× |
| LASR nLight compare | 12.4× |
| DIOD Diodes Incorporated compare | 4.8× |
| SYNA Synaptics Incorporated compare | 3.5× |
| HIMX Himax Technologies, Inc. compare | 2.4× |
| IMOS Chipmos Technologies compare | 2.3× |
| VSH Vishay Intertechnology, Inc. compare | 1.9× |
| WOLF Wolfspeed, Inc. compare | — |
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