POWI

MKT CAP:$4B

Power Integrations, Inc.

Market Cap

$4B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$71.73+$34.43 (+92.31%)

Apr 22, 2026

Company Details

Power Integrations, Inc. designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a r...

CEO

Jennifer A. Lloyd

IPO Date

Dec 12, 1997

Website

www.power.com

Key Metrics TTM

Revenue

$446M

+10.5% YoY

Net Income

$18M

EPS (Diluted)

$0.31

Free Cash Flow

$80M

Revenue / Share

$7.99

Gross Margin

54.8%

Operating Margin

4.4%

Net Margin

4.0%

FCF Margin

17.9%

P/S

9.2x

P/E

229.7x

Earnings Reports

Q4 2025

May 11, 2026

PENDING

FY 2025

Feb 6, 2026

$444M+5.9%EPS $0.39

Q3 2025

Nov 5, 2025

$119M+2.7%EPS -$0.02

Q2 2025

Aug 6, 2025

$116M+9.1%EPS $0.02

Q1 2025

May 12, 2025

$106M+15.1%EPS $0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$173M	$93M	$44M
Q1 22	$182M	$101M	$51M
Q2 22	$184M	$107M	$60M
Q3 22	$160M	$92M	$48M
Q4 22	$125M	$67M	$21M
Q1 23	$106M	$54M	$6M
Q2 23	$123M	$63M	$13M
Q3 23	$126M	$66M	$18M
Q4 23	$90M	$46M	-$1M
Q1 24	$92M	$48M	$470.0K
Q2 24	$106M	$57M	$2M
Q3 24	$116M	$63M	$12M
Q4 24	$105M	$57M	$4M
Q1 25	$106M	$58M	$7M
Q2 25	$116M	$64M	-$1M
Q3 25	$119M	$65M	$10M

Valuation

Quarter	P/S	P/E
Q4 21	5.9x	25.1x
Q1 22	5.8x	24.1x
Q2 22	5.8x	22.3x
Q3 22	5.9x	21.8x
Q4 22	6.3x	24.1x
Q1 23	7.2x	31.3x
Q2 23	8.0x	45.6x
Q3 23	8.6x	64.1x
Q4 23	9.3x	73.9x
Q1 24	9.6x	78.0x
Q2 24	10.0x	96.1x
Q3 24	10.2x	110.3x
Q4 24	9.8x	127.9x
Q1 25	9.5x	111.2x
Q2 25	9.3x	122.7x
Q3 25	9.2x	229.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$47M	$30M
Q1 22	$75M	$60M
Q2 22	$67M	$54M
Q3 22	$50M	$44M
Q4 22	$24M	$18M
Q1 23	$17M	$13M
Q2 23	$6M	$3M
Q3 23	$27M	$19M
Q4 23	$16M	$10M
Q1 24	$16M	$12M
Q2 24	$18M	$13M
Q3 24	$33M	$27M
Q4 24	$15M	$12M
Q1 25	$26M	$21M
Q2 25	$29M	$23M
Q3 25	$30M	$24M

Capital Expenditures

Quarter	CapEx
Q4 21	$17M
Q1 22	$15M
Q2 22	$13M
Q3 22	$6M
Q4 22	$6M
Q1 23	$4M
Q2 23	$3M
Q3 23	$8M
Q4 23	$6M
Q1 24	$4M
Q2 24	$4M
Q3 24	$6M
Q4 24	$3M
Q1 25	$6M
Q2 25	$6M
Q3 25	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+14.6%	+4.4%
Q1 22	+4.8%	-1.8%
Q2 22	+2.2%	-8.3%
Q3 22	-9.4%	-14.7%
Q4 22	-27.7%	-19.1%
Q1 23	-41.6%	-23.3%
Q2 23	-33.0%	-10.7%
Q3 23	-21.7%	-3.6%
Q4 23	-28.3%	-12.8%
Q1 24	-13.7%	-9.3%
Q2 24	-13.8%	-5.7%
Q3 24	-7.7%	-3.3%
Q4 24	+17.6%	+11.9%
Q1 25	+15.1%	+8.3%
Q2 25	+9.1%	+12.4%
Q3 25	+2.7%	+4.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$10M	6.0%
Q1 22	$9M	4.9%
Q2 22	$4M	2.0%
Q3 22	$3M	1.9%
Q4 22	$7M	5.3%
Q1 23	$7M	6.9%
Q2 23	$7M	5.5%
Q3 23	$7M	5.5%
Q4 23	$8M	8.4%
Q1 24	$6M	7.0%
Q2 24	$11M	10.4%
Q3 24	$0	0.0%
Q4 24	$9M	8.8%
Q1 25	$9M	8.2%
Q2 25	$10M	8.7%
Q3 25	$21M	17.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 21	$22M	$11M	$16M
Q1 22	$24M	$10M	$16M
Q2 22	$24M	$6M	$16M
Q3 22	$23M	$6M	$15M
Q4 22	$24M	$7M	$15M
Q1 23	$24M	$8M	$16M
Q2 23	$25M	$9M	$17M
Q3 23	$24M	$8M	$16M
Q4 23	$24M	$8M	$15M
Q1 24	$23M	$8M	$16M
Q2 24	$26M	$10M	$18M
Q3 24	$26M	$9M	$17M
Q4 24	$26M	$11M	$17M
Q1 25	$24M	$11M	$16M
Q2 25	$26M	$12M	$18M
Q3 25	$27M	$10M	$17M

Revenue by Geography

Quarter	Germany	Hong Kong/China	Japan	Korea	Other	Taiwan	United States of America	Western Europe (excluding Germany)	India	Americas	Other Asia Pacific
Q1 22	$11M	$105M	$8M	$19M	$18M	$5M	$7M	$8M	—	—	—
Q2 22	$14M	$97M	$10M	$19M	$22M	$6M	$8M	$8M	—	—	—
Q3 22	$17M	$81M	$10M	$10M	$10M	$5M	$8M	$11M	$10M	—	—
Q1 23	$7M	$60M	$5M	$7M	$9M	$2M	$3M	$7M	$7M	—	—
Q2 23	$6M	$76M	$4M	$6M	$7M	$4M	$2M	$5M	$11M	—	—
Q3 23	$6M	$80M	$4M	$4M	$6M	$5M	$2M	$8M	$10M	—	—
Q1 25	$6M	$56M	—	$12M	—	$7M	—	—	$5M	$6M	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$171M	$273M	$444M
Q2 22	$67M	$260M	$328M
Q3 22	$133M	$230M	$363M
Q4 22	$105M	$248M	$354M
Q1 23	$94M	$264M	$359M
Q2 23	$84M	$262M	$346M
Q3 23	$95M	$262M	$357M
Q4 23	$64M	$248M	$312M
Q1 24	$56M	$243M	$300M
Q2 24	$50M	$240M	$290M
Q3 24	$58M	$245M	$304M
Q4 24	$51M	$249M	$300M
Q1 25	$50M	$240M	$289M
Q2 25	$67M	$202M	$269M
Q3 25	$49M	$193M	$242M
Q4 25	$59M	$191M	$250M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	61M	+0.0%	+0.3%
Q1 22	60M	-2.1%	-2.2%
Q2 22	58M	-3.0%	-5.1%
Q3 22	58M	-1.2%	-6.1%
Q4 22	58M	-0.1%	-6.3%
Q1 23	58M	+0.1%	-4.2%
Q2 23	58M	+0.2%	-1.1%
Q3 23	58M	+0.1%	+0.2%
Q4 23	57M	-0.8%	-0.5%
Q1 24	57M	-0.2%	-0.8%
Q2 24	57M	-0.3%	-1.2%
Q3 24	57M	+0.0%	-1.3%
Q4 24	57M	+0.2%	-0.3%
Q1 25	57M	+0.0%	-0.0%
Q2 25	56M	-1.3%	-1.0%
Q3 25	56M	-1.0%	-2.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$223.4K	773
Q1 22	$235.6K	773
Q2 22	$238.0K	773
Q3 22	$207.3K	773
Q4 22	$150.1K	831
Q1 23	$127.9K	831
Q2 23	$148.3K	831
Q3 23	$151.0K	831
Q4 23	$109.3K	819
Q1 24	$112.0K	819
Q2 24	$129.7K	819
Q3 24	$141.4K	819
Q4 24	$121.7K	865
Q1 25	$122.0K	865
Q2 25	$133.9K	865
Q3 25	$137.5K	865

Revenue / Employee