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Power Integrations vs Netlist: POWI and NLST compared
Power Integrations is the larger company: $125M of revenue in its latest quarter (Q3 2026) against $110M for Netlist (Q2 2026). Netlist is growing faster (+163% against +6% a year earlier). Power Integrations is more profitable, with an operating margin of 15.2% against 1.2%.
Where the money goes: POWI and NLST
Power Integrations (POWI) · Q3 2026
Power Integrations, Q3 2026: revenue $125M (+6% year over year), operating margin 15.2%, net earnings $18.3M, operating cash flow $42.6M. The chart follows the revenue to costs, profit and cash.
Netlist (NLST) · Q2 2026
Netlist, Q2 2026: revenue $110M (+163% year over year), operating margin 1.2%, net earnings $1.4M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Power Integrations (POWI) | Netlist (NLST) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $125M | $110M |
| Revenue growth, Y/Y | +6% | +163% |
| Gross margin | 55.6% | 20.8% |
| Operating margin | 15.2% | 1.2% |
| Net earnings | $18.3M | $1.4M |
| Net margin | 14.6% | 1.3% |
| Operating cash flow | $42.6M | $3.3M |
| Free cash flow | $36.5M | — |
| Market value | $2.7B | — |
| P/E | 106.6× | — |
| Analysts’ mean target | $60.67 | — |
Where the revenue comes from
Netlist
- Resales of third-party products: $104M (94%)
- Sale of our modular memory subsystems: $6.1M (6%)
Questions
Which is bigger, Power Integrations or Netlist?
Power Integrations is the larger company: $125M of revenue in its latest quarter (Q3 2026) against $110M for Netlist (Q2 2026).
Is Power Integrations or Netlist growing faster?
Netlist is growing faster (+163% against +6% a year earlier).
Which is more profitable, Power Integrations or Netlist?
Power Integrations is more profitable, with an operating margin of 15.2% against 1.2%.
More: Power Integrations earnings · how Power Integrations makes money · Netlist earnings · how Netlist makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.