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Designs power-conversion chips that turn wall power into the DC voltages used in chargers, appliances and industrial equipment.
Designs power-conversion chips that turn wall power into the DC voltages used in chargers, appliances and industrial equipment.
Sells power-conversion chips mostly through distributors to makers of chargers, appliances and industrial equipment, each chip costing little but sold in huge volumes. It designs chips and pays outside foundries to make them.
Moat: narrow (IP / patents, process know-how). Long-standing patent portfolio in high-voltage power conversion, in a fragmented, competitive analog niche.
Headquarters: San Jose, California, US · Founded: 1988 · Employees: 877
Size POWI (POWI) is a United States Information Technology company (Semiconductors) with a market value of $2.25B, the 1719th largest of 3,117 United States companies the cockpit tracks. Shares closed at $40.26 on 6 Nov 2026.
Performance Over six months the shares fell 44.9%, against -30.8% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +19.8%); the operating margin is 7.9% (peer median 3.3%).
Valuation It trades at 22.9× forward earnings against a peer median of 40.9× (5th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +38 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.6 points below its cost of capital (12.7% WACC).
Short interest Short interest is 9.2% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $449M | $444M | $419M | $445M | $651M |
| Revenue growth | — | +6% | -6% | -32% | — |
| Gross profit | $241M | $242M | $225M | $229M | $367M |
| EBITDA | $62.0M | $49.5M | $52.5M | $72.4M | $218M |
| Net income | $25.1M | $22.1M | $32.2M | $55.7M | $171M |
| Free cash flow | $79.0M | $87.1M | $63.9M | $44.9M | $176M |
| Capital expenditure | $19.0M | $24.4M | $17.3M | $20.9M | $39.2M |
| Total debt | $0 | $18.9M | $15.6M | $9.98M | $8.73M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| POWI POWI | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
| Texas Instruments TXN | $253B | -4% | +20% | 41% | 24.6× | 23.3% |
| ON Semiconductor ON | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% |
| NVTS NVTS | $2.32B | -53% | -29% | -273% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | POWI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.3% | -21.8% | 10th highest of 21 |
| 6-month return | -44.9% | -30.8% | 5th lowest of 21 |
| Distance from 52-week high | -55.9% | -54.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +1.6% | +19.8% | 5th lowest of 21 |
| Operating margin | 7.9% | 3.3% | 9th highest of 21 |
| Forward P/E | 22.9× | 40.9× | 5th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 35.9% | 33.2% | 5th most demanding of 11 |
| Growth delivered (Del g) | -1.9% | +20.0% | lowest of 11 |
| Hurdle (Req g minus delivered) | +37.8 pp | +12.3 pp | most demanding of 11 |
| ROIC minus cost of capital | -5.6 pp | -6.7 pp | 8th highest of 21 |
| EV / EBITDA | 31.7× | 10.7× | most expensive of 5 |
| Net debt / EBITDA | -4.2× | -1.6× | 3rd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| POWI POWI | United States | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% | -1.9% |
| GCL System Integration Technology 002506.SZ | China | $2.26B | -39% | -32% | -10% | n/a | 31.8% | +20.8% |
| Xiamen Changelight 300102.SZ | China | $2.26B | -50% | -38% | -2% | 71.3× | 34.6% | +21.1% |
| Ennostar 3714.TW | Taiwan | $2.23B | -23% | -5% | -13% | n/a | n/a | n/a |
| Giantec Semiconductor 688123.SS | China | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% | +19.8% |
| Xiamen UX IC 688807.SS | China | $2.22B | -48% | +26% | 13% | 144.5× | n/a | n/a |
| Hermes Testing Solutions 7856.TWO | Taiwan | $2.29B | -32% | +52% | 12% | 46.2× | 52.1% | +51.8% |
| Chunghwa Precision Test Tech 6510.TWO | Taiwan | $2.30B | -37% | +24% | 32% | 28.3× | 24.4% | +2.7% |
| Wuxi Taclink Optoelectronics Technology 688205.SS | China | $2.20B | -62% | +20% | 3% | 180.7× | n/a | n/a |
| nLIGHT LASR | United States | $2.19B | +72% | +43% | -5% | 61.8× | 39.2% | +3.2% |
| NVTS NVTS | United States | $2.32B | -53% | -29% | -273% | n/a | n/a | n/a |
| Guangdong Tianyu Semiconductor 2658.HK | Hong Kong | $2.17B | -3% | +52% | -30% | 59.4× | n/a | n/a |
| Shanghai Fullhan Microelectronics 300613.SZ | China | $2.35B | +14% | +91% | 26% | 43.1× | n/a | n/a |
| Union Semiconductor (Hefei) 688403.SS | China | $2.15B | -14% | +13% | 3% | 56.1× | n/a | n/a |
| MLS 002745.SZ | China | $2.36B | +11% | +19% | -4% | 24.0× | 2.4% | +0.1% |
| Shanghai Belling Corp.,Ltd 600171.SS | China | $2.14B | -30% | +11% | 4% | n/a | 39.4% | +19.1% |
| Elmos Semiconductor ELG.DE | Germany | $2.13B | -36% | +9% | 20% | 16.2× | 12.9% | +20.2% |
| Holy Stone Enterprise 3026.TW | Taiwan | $2.39B | +91% | +17% | 2% | 21.0× | n/a | n/a |
| Acter 5536.TWO | Taiwan | $2.39B | -26% | +28% | 16% | 10.0× | -6.0% | +24.3% |
| Micronics Japan 6871.T | Japan | $2.11B | -33% | +38% | 28% | 14.1× | n/a | n/a |
| Sunrun RUN | United States | $2.40B | -32% | +63% | 2% | 38.7× | n/a | n/a |