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POWI

Power Integrations, Inc.

POWI

Power Integrations, Inc. • NASDAQ
$33.60 ▲ 0.24% (+0.08)
Market Cap $1.86 B
52w High $68.20
52w Low $30.86
Dividend Yield 0.84%
P/E 105
Volume 333.73K
Outstanding Shares 55.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $118.919M ▲ $54.525M ▼ $-1.356M ▼ -1.14% ▼ $-0.02 ▼ $5.352M ▼
Q2-2025 $115.852M ▲ $65.299M ▲ $1.369M ▼ 1.182% ▼ $0.024 ▼ $5.865M ▼
Q1-2025 $105.529M ▲ $51.517M ▼ $8.79M ▼ 8.329% ▼ $0.15 ▼ $14.169M ▲
Q4-2024 $105.25M ▼ $53.348M ▲ $9.14M ▼ 8.684% ▼ $0.16 ▼ $11.87M ▲
Q3-2024 $115.837M $51.589M $14.291M 12.337% $0.25 $11.582M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $241.86M ▼ $772.53M ▼ $100.554M ▲ $671.976M ▼
Q2-2025 $268.736M ▼ $797.537M ▼ $93.749M ▲ $703.788M ▼
Q1-2025 $289.296M ▼ $814.4M ▼ $78.585M ▼ $735.815M ▼
Q4-2024 $299.995M ▼ $828.826M ▲ $79.054M ▲ $749.772M ▲
Q3-2024 $303.751M $824.991M $75.778M $749.213M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.356M ▼ $29.854M ▲ $3.543M ▼ $-51.686M ▼ $-18.289M ▼ $24.16M ▲
Q2-2025 $1.369M ▼ $29.072M ▲ $32.618M ▲ $-44.369M ▼ $17.321M ▲ $23.146M ▲
Q1-2025 $8.79M ▼ $26.386M ▲ $4.526M ▲ $-32.27M ▼ $-1.358M ▲ $20.66M ▲
Q4-2024 $9.14M ▼ $14.726M ▼ $-8.384M ▲ $-13.839M ▼ $-7.497M ▼ $11.681M ▼
Q3-2024 $14.291M $32.919M $-16.588M $-8.355M $7.976M $27.188M

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits climbed strongly into 2021–2022 and then stepped down noticeably in 2023–2024, reflecting a clear industry down-cycle. Even with that slowdown, the company has remained profitable, but operating and net margins are much thinner than at the peak. The business still shows good gross profitability, yet the recent years highlight how sensitive earnings are to swings in demand. Overall, this is a solid, consistently profitable model going through a softer phase compared with its recent highs.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. The company carries essentially no debt and is funded mainly by shareholders’ equity, which provides a solid cushion. Total assets have stayed fairly stable over time, suggesting no aggressive balance-sheet expansion. Cash levels have come down from earlier, more cash-rich years, but there is still a reasonable liquidity base and no obvious financial strain. Structurally, this is a clean, low-leverage balance sheet.

Cash Flow

Cash Flow Cash generation has been consistently positive, even as revenue has cycled down. Operating cash flow was strongest during the boom years and has since eased, but it continues to comfortably cover investment needs. Free cash flow has been positive in every year shown, supported by disciplined and relatively modest capital spending. This points to a business that can fund its own growth and R&D from internal cash, without depending heavily on outside financing.

Competitive Edge

Competitive Edge Power Integrations occupies a specialized niche in high-voltage power conversion rather than trying to be a broad, general-purpose chip vendor. Its edge comes from highly integrated power ICs, strong energy-efficiency performance, and long experience in this corner of the market. A large patent portfolio, proven reliability, and high switching costs for customers help keep its position defensible. The main competitive challenge is going up against much larger semiconductor companies that have broad product lines and deep resources, especially as markets like EVs and data centers attract intense interest from many players.

Innovation and R&D

Innovation and R&D Innovation is clearly at the core of the company’s strategy. Its GaN-based PowiGaN platform, EcoSmart energy-saving technology, and highly integrated chip designs are central to its moat and brand. The company is pushing these technologies into higher-power uses such as AI data centers, industrial systems, renewable energy, and electric vehicles. This creates attractive long-term opportunity but also execution risk: success depends on keeping a clear technology lead, scaling new products, and keeping pace with rapid advances in power electronics. Sustained R&D spending is a feature, not a bug, in this model.

Summary

Power Integrations combines a specialized technological niche with a conservative financial profile. Financially, it remains profitable with steady free cash flow and a very low-debt balance sheet, but its earnings are well below the levels reached at the top of the recent cycle. Strategically, it benefits from strong IP, customer stickiness, and recognized expertise in high-voltage power conversion, while facing cyclical demand swings and tough competition from much larger chip makers. The key swing factors going forward are the pace of demand recovery in its core markets and how effectively it converts its GaN and high-integration technology into sustained growth in newer areas like data centers, EVs, and industrial power.

NEWS

November 24, 2025 · 4:35 PM UTC

Power Integrations Bolsters Leadership Team with Addition of Julie Currie as Chief People and Transformation Officer

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November 18, 2025 · 4:15 PM UTC

Power Integrations Names Nancy Erba as Chief Financial Officer

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November 5, 2025 · 7:45 AM UTC

Power Integrations Reports Third-Quarter Financial Results

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October 21, 2025 · 5:00 PM UTC

Power Integrations to Release Third-Quarter Financial Results on November 5

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October 13, 2025 · 11:05 AM UTC

Power Integrations Details 1250 V and 1700 V PowiGaN Technology for Next-Generation 800 VDC AI Data Centers

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