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Side-by-side financial comparison of DIODES INC (DIOD) and FORUM ENERGY TECHNOLOGIES, INC. (FET). Click either name above to swap in a different company.
DIODES INC is the larger business by last-quarter revenue ($391.6M vs $202.2M, roughly 1.9× FORUM ENERGY TECHNOLOGIES, INC.). DIODES INC runs the higher net margin — 2.6% vs 1.0%, a 1.6% gap on every dollar of revenue. On growth, DIODES INC posted the faster year-over-year revenue change (15.4% vs 0.6%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($20.9M vs $12.4M). Over the past eight quarters, DIODES INC's revenue compounded faster (13.9% CAGR vs -0.0%).
Diodes Incorporated is a global semiconductor manufacturer that designs, produces and supplies discrete, analog and mixed-signal semiconductor products. Its solutions serve key end markets including automotive, industrial, consumer electronics, personal computing and communications infrastructure, with a worldwide customer base.
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
DIOD vs FET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $391.6M | $202.2M |
| Net Profit | $10.2M | $2.1M |
| Gross Margin | 31.1% | 30.2% |
| Operating Margin | 3.4% | 6.3% |
| Net Margin | 2.6% | 1.0% |
| Revenue YoY | 15.4% | 0.6% |
| Net Profit YoY | 23.8% | 102.0% |
| EPS (diluted) | $0.23 | $0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $391.6M | $202.2M | ||
| Q3 25 | $392.2M | $196.2M | ||
| Q2 25 | $366.2M | $199.8M | ||
| Q1 25 | $332.1M | $193.3M | ||
| Q4 24 | $339.3M | $201.0M | ||
| Q3 24 | $350.1M | $207.8M | ||
| Q2 24 | $319.8M | $205.2M | ||
| Q1 24 | $302.0M | $202.4M |
| Q4 25 | $10.2M | $2.1M | ||
| Q3 25 | $14.3M | $-20.6M | ||
| Q2 25 | $46.1M | $7.7M | ||
| Q1 25 | $-4.4M | $1.1M | ||
| Q4 24 | $8.2M | $-103.5M | ||
| Q3 24 | $13.7M | $-14.8M | ||
| Q2 24 | $8.0M | $-6.7M | ||
| Q1 24 | $14.0M | $-10.3M |
| Q4 25 | 31.1% | 30.2% | ||
| Q3 25 | 30.7% | 20.5% | ||
| Q2 25 | 31.5% | 29.7% | ||
| Q1 25 | 31.5% | 30.2% | ||
| Q4 24 | 32.7% | 31.1% | ||
| Q3 24 | 33.7% | 31.6% | ||
| Q2 24 | 33.6% | 30.7% | ||
| Q1 24 | 33.0% | 31.5% |
| Q4 25 | 3.4% | 6.3% | ||
| Q3 25 | 3.0% | -3.1% | ||
| Q2 25 | 2.6% | 7.4% | ||
| Q1 25 | 0.4% | 4.6% | ||
| Q4 24 | 3.5% | -53.1% | ||
| Q3 24 | 6.2% | 4.3% | ||
| Q2 24 | 1.2% | 3.9% | ||
| Q1 24 | 4.3% | 1.6% |
| Q4 25 | 2.6% | 1.0% | ||
| Q3 25 | 3.6% | -10.5% | ||
| Q2 25 | 12.6% | 3.9% | ||
| Q1 25 | -1.3% | 0.6% | ||
| Q4 24 | 2.4% | -51.5% | ||
| Q3 24 | 3.9% | -7.1% | ||
| Q2 24 | 2.5% | -3.3% | ||
| Q1 24 | 4.6% | -5.1% |
| Q4 25 | $0.23 | $0.25 | ||
| Q3 25 | $0.31 | $-1.76 | ||
| Q2 25 | $0.99 | $0.61 | ||
| Q1 25 | $-0.10 | $0.09 | ||
| Q4 24 | $0.18 | $-8.41 | ||
| Q3 24 | $0.30 | $-1.20 | ||
| Q2 24 | $0.17 | $-0.54 | ||
| Q1 24 | $0.30 | $-0.85 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $377.0M | $34.7M |
| Total DebtLower is stronger | $25.7M | $135.9M |
| Stockholders' EquityBook value | $1.9B | $291.1M |
| Total Assets | $2.4B | $752.5M |
| Debt / EquityLower = less leverage | 0.01× | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $377.0M | $34.7M | ||
| Q3 25 | $386.4M | $31.7M | ||
| Q2 25 | $327.3M | $39.0M | ||
| Q1 25 | $343.9M | $31.1M | ||
| Q4 24 | $316.1M | $44.7M | ||
| Q3 24 | $319.3M | $33.3M | ||
| Q2 24 | $273.9M | $31.8M | ||
| Q1 24 | $276.0M | $48.5M |
| Q4 25 | $25.7M | $135.9M | ||
| Q3 25 | $24.9M | $140.0M | ||
| Q2 25 | $26.4M | $159.3M | ||
| Q1 25 | $20.5M | $171.4M | ||
| Q4 24 | $20.7M | $188.4M | ||
| Q3 24 | $22.2M | $231.5M | ||
| Q2 24 | $20.3M | $252.9M | ||
| Q1 24 | $20.9M | $287.5M |
| Q4 25 | $1.9B | $291.1M | ||
| Q3 25 | $1.9B | $297.3M | ||
| Q2 25 | $1.9B | $334.2M | ||
| Q1 25 | $1.8B | $320.0M | ||
| Q4 24 | $1.8B | $319.9M | ||
| Q3 24 | $1.8B | $443.5M | ||
| Q2 24 | $1.8B | $442.0M | ||
| Q1 24 | $1.7B | $446.2M |
| Q4 25 | $2.4B | $752.5M | ||
| Q3 25 | $2.5B | $770.1M | ||
| Q2 25 | $2.5B | $810.1M | ||
| Q1 25 | $2.4B | $790.1M | ||
| Q4 24 | $2.4B | $816.0M | ||
| Q3 24 | $2.4B | $973.7M | ||
| Q2 24 | $2.4B | $976.8M | ||
| Q1 24 | $2.4B | $1.0B |
| Q4 25 | 0.01× | 0.47× | ||
| Q3 25 | 0.01× | 0.47× | ||
| Q2 25 | 0.01× | 0.48× | ||
| Q1 25 | 0.01× | 0.54× | ||
| Q4 24 | 0.01× | 0.59× | ||
| Q3 24 | 0.01× | 0.52× | ||
| Q2 24 | 0.01× | 0.57× | ||
| Q1 24 | 0.01× | 0.64× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $38.1M | $22.4M |
| Free Cash FlowOCF − Capex | $12.4M | $20.9M |
| FCF MarginFCF / Revenue | 3.2% | 10.3% |
| Capex IntensityCapex / Revenue | 6.6% | 0.8% |
| Cash ConversionOCF / Net Profit | 3.74× | 10.83× |
| TTM Free Cash FlowTrailing 4 quarters | $137.2M | $64.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.1M | $22.4M | ||
| Q3 25 | $79.1M | $22.9M | ||
| Q2 25 | $41.5M | $15.8M | ||
| Q1 25 | $56.7M | $9.3M | ||
| Q4 24 | $81.8M | $38.5M | ||
| Q3 24 | $54.4M | $25.6M | ||
| Q2 24 | $14.4M | $23.1M | ||
| Q1 24 | $-31.1M | $5.0M |
| Q4 25 | $12.4M | $20.9M | ||
| Q3 25 | $62.8M | $21.5M | ||
| Q2 25 | $21.1M | $14.8M | ||
| Q1 25 | $40.8M | $7.2M | ||
| Q4 24 | $62.1M | $36.1M | ||
| Q3 24 | $39.4M | $24.3M | ||
| Q2 24 | $-3.5M | $21.6M | ||
| Q1 24 | $-51.5M | $2.1M |
| Q4 25 | 3.2% | 10.3% | ||
| Q3 25 | 16.0% | 10.9% | ||
| Q2 25 | 5.8% | 7.4% | ||
| Q1 25 | 12.3% | 3.7% | ||
| Q4 24 | 18.3% | 18.0% | ||
| Q3 24 | 11.2% | 11.7% | ||
| Q2 24 | -1.1% | 10.5% | ||
| Q1 24 | -17.1% | 1.0% |
| Q4 25 | 6.6% | 0.8% | ||
| Q3 25 | 4.2% | 0.7% | ||
| Q2 25 | 5.6% | 0.5% | ||
| Q1 25 | 4.8% | 1.1% | ||
| Q4 24 | 5.8% | 1.2% | ||
| Q3 24 | 4.3% | 0.6% | ||
| Q2 24 | 5.6% | 0.7% | ||
| Q1 24 | 6.7% | 1.4% |
| Q4 25 | 3.74× | 10.83× | ||
| Q3 25 | 5.54× | — | ||
| Q2 25 | 0.90× | 2.05× | ||
| Q1 25 | — | 8.31× | ||
| Q4 24 | 9.93× | — | ||
| Q3 24 | 3.95× | — | ||
| Q2 24 | 1.80× | — | ||
| Q1 24 | -2.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
FET
| Drilling And Completions Segment | $127.2M | 63% |
| Artificial Lift And Downhole Segment | $75.5M | 37% |
