Power Integrations Inc
POWI
Semiconductors & Related Devices
Mkt Cap
$4.391BPE
83.15Debt
-Cash
$56.44MEV
-FCF
$43.93MP/E Ratio
83.15Debt
-Cash
$56.44MEV
-FCF
$43.93MCharts data: {"Earnings":[{"time":"2014-12-30","value":59544000},{"time":"2015-12-30","value":39147000},{"time":"2016-12-30","value":47890000},{"time":"2017-12-30","value":27609000},{"time":"2018-12-30","value":69984000},{"time":"2019-12-30","value":193468000},{"time":"2020-12-30","value":71176000},{"time":"2021-12-30","value":164413000},{"time":"2022-12-30","value":170851000},{"time":"2023-12-30","value":55735000}],"Sales":[{"time":"2014-12-30","value":348797000},{"time":"2015-12-30","value":343989000},{"time":"2016-12-30","value":389668000},{"time":"2017-12-30","value":431755000},{"time":"2018-12-30","value":415955000},{"time":"2019-12-30","value":420669000},{"time":"2020-12-30","value":488318000},{"time":"2021-12-30","value":703277000},{"time":"2022-12-30","value":651138000},{"time":"2023-12-30","value":444538000}],"Net Margins":[{"time":"2014-12-30","value":0.170712477458235},{"time":"2015-12-30","value":0.11380305765591342},{"time":"2016-12-30","value":0.12289949392816449},{"time":"2017-12-30","value":0.06394598788664868},{"time":"2018-12-30","value":0.168248969239461},{"time":"2019-12-30","value":0.4599055314273217},{"time":"2020-12-30","value":0.1457574777091977},{"time":"2021-12-30","value":0.23378128390378186},{"time":"2022-12-30","value":0.26238831092640885},{"time":"2023-12-30","value":0.12537735806612707}],"Assets":[{"time":"2014-12-30","value":493663000},{"time":"2015-12-30","value":487537000},{"time":"2016-12-30","value":555338000},{"time":"2017-12-30","value":621074000},{"time":"2018-12-30","value":588697000},{"time":"2019-12-30","value":803896000},{"time":"2020-12-30","value":903339000},{"time":"2021-12-30","value":1014487000},{"time":"2022-12-30","value":840096000},{"time":"2023-12-30","value":819868000}],"Stockholders Equity":[{"time":"2014-12-30","value":430676000},{"time":"2015-12-30","value":428619000},{"time":"2016-12-30","value":488105000},{"time":"2017-12-30","value":547682000},{"time":"2018-12-30","value":527072000},{"time":"2019-12-30","value":724546000},{"time":"2020-12-30","value":810411000},{"time":"2021-12-30","value":912032000},{"time":"2022-12-30","value":755216000},{"time":"2023-12-30","value":752241000}],"ROE":[{"time":"2014-12-30","value":0.13825706563634843},{"time":"2015-12-30","value":0.0913328620523122},{"time":"2016-12-30","value":0.09811413527827005},{"time":"2017-12-30","value":0.0504106397508043},{"time":"2018-12-30","value":0.1327788233865582},{"time":"2019-12-30","value":0.2670196233227428},{"time":"2020-12-30","value":0.08782704084717508},{"time":"2021-12-30","value":0.18027108697940422},{"time":"2022-12-30","value":0.22622799305099467},{"time":"2023-12-30","value":0.0740919465969018}],"ROA":[{"time":"2014-12-30","value":0.11508660766555322},{"time":"2015-12-30","value":0.08085129949111555},{"time":"2016-12-30","value":0.08994882395946252},{"time":"2017-12-30","value":0.09708826967478916},{"time":"2018-12-30","value":0.10151911764456079},{"time":"2019-12-30","value":0.2766701165324868},{"time":"2020-12-30","value":0.08330316747090516},{"time":"2021-12-30","value":0.17361977038641205},{"time":"2022-12-30","value":0.2183393326476974},{"time":"2023-12-30","value":0.055993159874516384}]}
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 range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems. It also offers high-voltage diodes; high-voltage gate-driver products used to operate high-voltage switches, such as insulated-gate bipolar transistors and silicon-carbide MOSFETs under the SCALE and SCALE-2 product-family names; and SCALE-iDriver for use in powertrain and charging applications for electric vehicles. In addition, the company provides motor-driver ICs for use in refrigerator compressors, ceiling fans, and air purifiers, as well as pumps, fans, and blowers used in consumer appliances, such as dishwashers and laundry machines. It serves communications, computer, consumer, and industrial markets. The company sells its products to original equipment manufacturers and merchant power supply manufacturers through direct sales force, as well as a network of independent sales representatives and distributors. Power Integrations, Inc. was incorporated in 1988 and is headquartered in San Jose, California.
Sector
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DCF
Discounted Cash Flow Valuation of Power Integrations Inc
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $43.93M | $46.85M | $49.88M | $53.01M | $56.25M | $59.57M | $62.99M | $66.48M | $70.05M | $73.68M | $77.37M | $773.7M |
| DCF | $40.74M | $37.72M | $34.86M | $32.16M | $29.62M | $27.23M | $24.99M | $22.9M | $20.94M | $19.12M | $191.2M | |
| Value | $481.5M | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 16%
Earnings Stability 37%
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.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 11% | 12% | 6.4% | 17% | 46% | 15% | 23% | 26% | 13% | 12% |
| ROA | 8.1% | 9% | 9.7% | 10% | 28% | 8.3% | 17% | 22% | 5.6% | 5.3% |
| ROE | 9.1% | 9.8% | 5% | 13% | 27% | 8.8% | 18% | 23% | 7.4% | 7.2% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +23.26%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -2.05%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +15.16%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.89%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +16.14%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -0.92%.
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.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | - | - | - | - | - | - | - | - | - | - |
| Debt Equity | - | - | - | - | - | - | - | - | - | - |
| MIN | ||||||||||
| Graham Stability | - | - | 57% | 100% | 100% | 73% | 100% | 100% | 41% | 41% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.41.
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.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 1.9% | 1.3% | -3.1% | -32% | -1.6% |
| Net Income | 2.2% | -4.5% | -7.8% | -67% | -0.96% |
| Stockholders Equity | 6.4% | 7.4% | -2.5% | -0.39% | -1.3% |
| FCF | -8.8% | -5.4% | -6.6% | -75% | 0.23% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +1.34%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -1.62%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -4.45%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -0.96%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +7.37%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -1.28%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -5.42%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +0.23%.