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Diodes cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$43.9M in Q3 2026 · $124M over twelve months

Operating cash flow$97.2M
Capital spending−$53.2M
Free cash flow+$43.9M
Cash / net income2.1×
Cash conversion cycle145 days

Analysis

In Q3 2026, Diodes generated $97.2M of operating cash flow and spent $53.2M on capital projects, leaving free cash flow of $43.9M. That is $18.9M less than in Q3 2025 ($62.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $268M; the largest uses were acquisitions ($236M), capital spending ($144M), buybacks ($69.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($359M), other investing ($11.8M); the cash balance rose by $184M.

Operating cash flow was $97.2M against net income of $46.5M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$35.9M, receivables −$33.6M, payables +$19.1M.

Its cash conversion cycle was 145 days (receivables 57 + inventory 141 − payables 52).

Free cash flow

Diodes: free cash flow by quarterDiodes: free cash flow by quarter$62.1MQ4 2024$40.8MQ1 2025$21.1MQ2 2025$62.8MQ3 2025$12.4MQ4 2025$32.4MQ1 2026$34.8MQ2 2026$43.9MQ3 2026
Operating cash flow less capital spending.
Diodes: operating cash flow against capital spendingDiodes: operating cash flow against capital spendingOperating cash flowCapital spending$81.8M$19.7MQ4 2024$56.7M$15.9MQ1 2025$41.5M$20.4MQ2 2025$79.1M$16.3MQ3 2025$38.1M$25.7MQ4 2025$64.3M$31.9MQ1 2026$68.5M$33.6MQ2 2026$97.2M$53.2MQ3 2026
Latest (Q3 2026): Operating cash flow $97.2M, Capital spending $53.2M.

Capital allocation, year by year

Diodes: where the cash came from (up) and went (down), by fiscal yearDiodes: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $339MFY2021: Net borrowing −$174MFY2021: Shares issued $8.6MFY2021: Asset sales $3.2MFY2021: Capital spending −$141MFY2021: Acquisitions −$157K$350MFY2021FY2022: Operating cash flow $393MFY2022: Net borrowing −$112MFY2022: Shares issued $240KFY2022: Asset sales $418KFY2022: Capital spending −$212MFY2022: Acquisitions −$84.0M$393MFY2022FY2023: Operating cash flow $281MFY2023: Net borrowing −$129MFY2023: Asset sales $2.8MFY2023: Capital spending −$151MFY2023: Acquisitions −$3K$284MFY2023FY2024: Operating cash flow $119MFY2024: Net borrowing −$7.7MFY2024: Asset sales $816KFY2024: Capital spending −$73.0MFY2024: Acquisitions −$56.7M$120MFY2024FY2025: Operating cash flow $216MFY2025: Net borrowing $1.1MFY2025: Asset sales $7.0MFY2025: Capital spending −$78.4MFY2025: Acquisitions −$5.3MFY2025: Buybacks −$33.8M$224MFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were capital spending ($655M) and net borrowing ($423M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$575M
Debt$394M
Net cash$181M
Due within a year$1.4M

Diodes funds itself: free cash flow was $124M over the last twelve months, and $575M of cash and investments stands against $394M of debt ($1.4M due within a year, 398.6× covered by cash).

Diodes: debt maturities by year (FY2025)Diodes: debt maturities by year (FY2025)$1.4MYear 1$12.4MYear 2$10.4MYear 3$550KYear 4$321KYear 5$516KAfter year 5
Principal due in each year as disclosed in the annual report, against $575M of cash and investments now.

Where the cash came from and went

Diodes: sources (+) and uses (−) of cash, Q3 2026Diodes: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$374MAcquisitions−$234MCash drawn (+) / kept (−)−$134MOperating cash flow$97.2MCapital spending−$53.2MBuybacks−$35.0MOther financing−$29.7MOther investing$17.0MTaxes on employees’ shares−$5.5MExchange rates$2.6MAsset & business sales$283KPartners$62K
Diodes: sources (+) and uses (−) of cash, TTM to Q3 2026Diodes: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$359MOperating cash flow$268MAcquisitions−$236MCash drawn (+) / kept (−)−$184MCapital spending−$144MBuybacks−$69.0MOther investing$11.8MTaxes on employees’ shares−$7.4MExchange rates$5.1MPartners−$3.2MAsset & business sales$1.9MOther financing−$1.3M

From profit to cash

Diodes: net income to operating cash flow, Q3 2026Diodes: net income to operating cash flow, Q3 2026Net income$46.5MDepreciation & amortization$35.9MStock-based pay$9.4MGains on investments$8.5MGains on disposals−$185KOther non-cash$1.0MReceivables−$33.6MInventory−$1.7MPayables$19.1MAccrued liabilities$299KPrepaid and other assets$4.3MOther liabilities−$1.2MIncome taxes payable$15.1MOperating cash flow$97.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265714152145
Q2 20266315254161
Q1 20266815752173
Q4 20257216151182
Q3 20257216150184
Q2 20257717351198
Q1 20258518753219
Q4 20249319357228

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$97.2M−$53.2M−$234M−$35.0M$374M−$134M$43.9M
Q2 2026$68.5M−$33.6M−$2.4M——−$32.9M$34.8M
Q1 2026$64.3M−$31.9M——$546K−$26.9M$32.4M
Q4 2025$38.1M−$25.7M−$150K−$23.8M−$416K$9.7M$12.4M
Q3 2025$79.1M−$16.3M——$6.5M−$59.3M$62.8M
Q2 2025$41.5M−$20.4M−$595K—−$5.2M$18.2M$21.1M
Q1 2025$56.7M−$15.9M−$4.6M—$153K−$26.2M$40.8M
Q4 2024$81.8M−$19.7M−$56.7M—−$3.9M$2.4M$62.1M

Diodes: income statement and cash flow

Diodes, Q3 2026: revenue $533M (+36% year over year), operating margin 11.9%. The chart follows the revenue to costs, profit and cash.

Diodes: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.