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Diodes Inc

DIOD

Semiconductors & Related Devices

Mkt Cap

$3.131B

PE

13.78

Debt

$25.82M

Cash

$315.5M

EV

$2.841B

FCF

$130.1M

Market Cap

$3.131B

P/E Ratio

13.78

Debt

$25.82M

Cash

$315.5M

EV

$2.841B

FCF

$130.1M
Charts data: {"Earnings":[{"time":"2014-12-30","value":63678000},{"time":"2015-12-30","value":24274000},{"time":"2016-12-30","value":15935000},{"time":"2017-12-30","value":-1805000},{"time":"2018-12-30","value":104021000},{"time":"2019-12-30","value":153250000},{"time":"2020-12-30","value":98088000},{"time":"2021-12-30","value":228763000},{"time":"2022-12-30","value":331283000},{"time":"2023-12-30","value":227182000}],"Sales":[{"time":"2014-12-30","value":890651000},{"time":"2015-12-30","value":848904000},{"time":"2016-12-30","value":942162000},{"time":"2017-12-30","value":1100000000},{"time":"2018-12-30","value":1213989000},{"time":"2019-12-30","value":1249130000},{"time":"2020-12-30","value":1229215000},{"time":"2021-12-30","value":1805162000},{"time":"2022-12-30","value":2000580000},{"time":"2023-12-30","value":1661739000}],"Net Margins":[{"time":"2014-12-30","value":0.07149601808115637},{"time":"2015-12-30","value":0.028594517165663018},{"time":"2016-12-30","value":0.01691322723692953},{"time":"2017-12-30","value":-0.0016409090909090909},{"time":"2018-12-30","value":0.08568529039389979},{"time":"2019-12-30","value":0.12268538903076541},{"time":"2020-12-30","value":0.07979726898874485},{"time":"2021-12-30","value":0.1267271303074184},{"time":"2022-12-30","value":0.1655934778914115},{"time":"2023-12-30","value":0.1367134068587185}],"Assets":[{"time":"2014-12-30","value":1179157000},{"time":"2015-12-30","value":1601030000},{"time":"2016-12-30","value":1528552000},{"time":"2017-12-30","value":1488673000},{"time":"2018-12-30","value":1526371000},{"time":"2019-12-30","value":1639384000},{"time":"2020-12-30","value":1979457000},{"time":"2021-12-30","value":2194495000},{"time":"2022-12-30","value":2288312000},{"time":"2023-12-30","value":2367659000}],"Stockholders Equity":[{"time":"2014-12-30","value":810167000},{"time":"2015-12-30","value":842997000},{"time":"2016-12-30","value":820467000},{"time":"2017-12-30","value":873918000},{"time":"2018-12-30","value":977432000},{"time":"2019-12-30","value":1152783000},{"time":"2020-12-30","value":1016123000},{"time":"2021-12-30","value":1302724000},{"time":"2022-12-30","value":1582919000},{"time":"2023-12-30","value":1809677000}],"ROE":[{"time":"2014-12-30","value":0.07859860991622715},{"time":"2015-12-30","value":0.02879488301856353},{"time":"2016-12-30","value":0.01942186583982049},{"time":"2017-12-30","value":-0.0020654111712998247},{"time":"2018-12-30","value":0.10642274859018326},{"time":"2019-12-30","value":0.13293915680574747},{"time":"2020-12-30","value":0.09653162067977991},{"time":"2021-12-30","value":0.17560358141862742},{"time":"2022-12-30","value":0.20928613529814222},{"time":"2023-12-30","value":0.12553731964322914}],"ROA":[{"time":"2014-12-30","value":0.07660048661883023},{"time":"2015-12-30","value":0.026296821421210096},{"time":"2016-12-30","value":0.02489676504299494},{"time":"2017-12-30","value":0.053980961567785535},{"time":"2018-12-30","value":0.10120868386519398},{"time":"2019-12-30","value":0.12236791380176945},{"time":"2020-12-30","value":0.0678630553732665},{"time":"2021-12-30","value":0.14358428704553894},{"time":"2022-12-30","value":0.17838170669034642},{"time":"2023-12-30","value":0.1173872588915887}]}

Diodes Incorporated engages in the manufacture and supply of application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and rectifiers, and performance Schottky diodes; performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors. It also provides analog products, such as power management devices comprising AC-DC and DC-DC converters, USB power switches, and low dropout and linear voltage regulators; linear devices comprising operational amplifiers and comparators, current monitors, voltage references, and reset generators; LED lighting drivers; audio amplifiers; and sensor products, including hall-effect sensors and motor drivers. In addition, the company offers mixed-signal products, such as high speed mux/demux products, digital switches, interfaces, redrivers, universal level shifters/voltage translators, clock ICs, and packet switches; standard logic products comprising low-voltage complementary metal–oxide–semiconductor (CMOS) and high-speed CMOS devices; ultra-low power CMOS logic products and analog switches; multichip products and co-packaged discrete products, analog, and mixed-signal silicon in miniature packages; silicon and silicon epitaxial wafers; and frequency control products provides frequency references comprising crystals and crystal oscillators. It servs the industrial, automotive, computing, communications, and consumer markets through direct sales, marketing personnel, independent sales representatives, and distributors. The company was incorporated in 1959 and is headquartered in Plano, Texas.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$130.1M$167.3M$210.7M$259.9M$313.7M$370.4M$427.7M$482.7M$532.1M$572.7M$601.3M$6.013B
DCF$145.5M$159.3M$170.9M$179.4M$184.2M$184.9M$181.5M$174M$162.8M$148.6M$1.486B
Value$3.177B

In the chart Earnings are multiplied by this value.

Earnings Growth 52%
Earnings Stability 73%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin2.9%1.7%-0.16%8.6%12%8%13%17%14%14%
ROA2.6%2.5%5.4%10%12%6.8%14%18%12%12%
ROE2.9%1.9%-0.21%11%13%9.7%18%21%13%13%

What is the average Net Margin?

The average Net Margin over the past 5 years is +11.95%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +1.23%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +12.18%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.93%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +14.11%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +1.15%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF-31.496.714.162.481.003.001.530.840.200.20
Debt Equity0.570.540.330.250.110.330.230.100.010.01
MIN
Graham Stability---5.2%100%100%100%100%100%100%-5.2%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.20.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.38.

What is the Graham’s Stability?

Graham’s Stability measure stands at -0.05.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201812-202012-2022Trend
Revenue8.4%6.5%11%-17%-0.021%
Net Income46%17%32%-31%10%
Stockholders Equity12%13%21%14%2.2%
FCF10%5.8%5.3%-28%-5.5%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +6.48%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.02%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +16.91%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +10.49%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +13.11%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +2.22%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +5.82%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -5.53%.