ALPHA & OMEGA SEMICONDUCTOR Ltd AOSL
We are a designer, developer and global supplier of a broad portfolio of power semiconductors. Our portfolio of power semiconductors includes approximately 2,900 products, and has grown with the introduction of over 70 new products in the fiscal year ended June 30, 2026, and over 100 new products in each of the fiscal years ended June 30, 2025 and 2024, respectively. Our teams of scientists and engineers have developed extensive intellectual properties and technical knowledge that encompass major aspects of power semiconductors, which we believe enables us to introduce and develop innovative products to address the increasingly complex power requirements of advanced electronics. We have an extensive patent portfolio that consists of 961 issued patents and 78 pending patents in the United States as of June 30, 2026. We also have a total of 991 foreign patents, which were based primarily on our research and development efforts through June 30, 2026. We differentiate ourselves by integrating our expertise in technology, design and advanced manufacturing and packaging to optimize product performance and cost. Our portfolio of products targets high-volume applications, including personal computers, graphic cards, game consoles, home appliances, power tools, smart phones, battery packs, consumer and industrial motor controls and power supplies for computers, servers and telecommunications equipment.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $678.9M | $696.2M | $657.3M | $691.3M | $777.6M | $656.9M | $464.9M | $450.9M | $421.6M | $383.3M |
| Cost of revenue | $527.4M | $535.2M | $485.4M | $491.8M | $509.0M | $452.4M | $362.2M | $335.5M | $309.6M | $291.5M |
| Gross profit | $151.5M | $161.0M | $171.9M | $199.5M | $268.6M | $204.5M | $102.7M | $115.4M | $111.9M | $91.8M |
| R&D | $103.9M | $94.3M | $89.9M | $88.1M | $71.3M | $63.0M | $51.3M | $46.4M | $37.3M | $29.8M |
| SG&A | $90.9M | $95.2M | $85.7M | $88.9M | $95.3M | $77.5M | $64.8M | $76.0M | $66.2M | $48.8M |
| Total operating expenses | $194.7M | $189.4M | $175.7M | $177.0M | $166.5M | $140.5M | $116.7M | $122.4M | $103.5M | $78.7M |
| Operating income | -$43.2M | -$28.4M | -$3.8M | $22.5M | $102.0M | $64.1M | -$13.9M | -$7.0M | $8.4M | $13.1M |
| Interest expense | $775.0K | $2.6M | $4.0M | $4.9M | $3.9M | $6.3M | $2.7M | $6.9M | $821.0K | $91.0K |
| Pre-tax income | -$35.6M | -$27.8M | -$2.6M | $19.7M | $495.1M | $60.2M | -$17.9M | -$13.4M | $5.7M | $12.9M |
| Income tax | $7.5M | $8.6M | $3.6M | $5.9M | $39.3M | $3.9M | $348.0K | $1.3M | $708.0K | $3.7M |
| Net income | -$42.3M | -$97.0M | -$11.1M | $12.4M | $453.2M | $58.1M | -$6.6M | $1.9M | $14.3M | $13.8M |
| EPS, basic | -1.41 | -3.30 | -0.39 | 0.45 | 16.93 | 2.25 | -0.27 | 0.08 | 0.60 | 0.59 |
| EPS, diluted | -1.41 | -3.30 | -0.39 | 0.42 | 16.07 | 2.13 | -0.27 | 0.08 | 0.57 | 0.56 |
| Shares, diluted (wtd. avg.) | $30.0M | $29.4M | $28.2M | $29.5M | $28.2M | $27.3M | $24.8M | $24.7M | $24.8M | $24.8M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $180.8M | $153.1M | $175.1M | $195.6M | $314.7M | $204.8M | $162.7M | $124.3M | $131.7M | $115.9M |
| Receivables | $42.8M | $34.8M | $12.5M | $22.4M | $65.7M | $35.8M | $13.3M | $24.3M | $33.8M | $28.4M |
| Inventory | $201.4M | $189.7M | $195.8M | $183.2M | $158.0M | $154.3M | $135.5M | $111.6M | $90.2M | $76.3M |
| Total current assets | $437.9M | $396.2M | $398.0M | $423.9M | $549.6M | $407.3M | $318.3M | $295.3M | $285.2M | $225.5M |
| Property, plant and equipment | $314.7M | $314.1M | $336.6M | $357.8M | $318.7M | $437.0M | $412.3M | $409.7M | $331.7M | $148.2M |
| Goodwill | $269.0K | $269.0K | $269.0K | $269.0K | $269.0K | $269.0K | $269.0K | $269.0K | $269.0K | $300.0K |
| Other intangibles | $1.1M | $0 | $3.2M | $6.5M | $9.8M | $13.1M | $16.5M | $16.6M | $16.3M | $13.0K |
| Total assets | $963.6M | $1.03B | $1.15B | $1.20B | $1.30B | $918.6M | $792.9M | $739.4M | $667.0M | $398.4M |
| Accounts payable | — | — | — | — | $87.4M | $80.7M | $86.2M | $94.4M | $92.7M | $63.1M |
| Short-term debt | $3.1M | $11.9M | $11.6M | $11.4M | $25.6M | $58.0M | $30.1M | $26.6M | $3.8M | $0 |
| Total current liabilities | $127.4M | $154.5M | $154.2M | $172.6M | $267.7M | $233.2M | $192.1M | $178.0M | $154.7M | $94.9M |
| Long-term debt | $537.0K | $14.9M | $26.7M | $38.4M | $42.5M | $78.0M | $99.8M | $59.4M | $26.8M | $0 |
| Total liabilities | $165.7M | $212.0M | $253.4M | $315.8M | $444.5M | $402.2M | $361.1M | $296.1M | $240.9M | $99.9M |
| Retained earnings | $491.5M | $533.9M | $631.1M | $642.3M | $630.0M | $176.9M | $118.8M | $125.5M | $122.6M | $113.9M |
| Total equity | $797.9M | $822.3M | $891.6M | $883.9M | $854.1M | $516.3M | $431.9M | $443.3M | $426.2M | $298.5M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16.3M | $29.7M | $25.7M | $20.5M | $218.9M | $128.7M | $62.3M | $31.4M | $3.5M | $42.6M |
| Depreciation and amortisation | $57.3M | $62.4M | $53.8M | $43.2M | $42.9M | $52.7M | $45.1M | $32.0M | $29.4M | $27.2M |
| Stock-based compensation | $26.7M | $29.6M | $21.6M | $37.5M | $31.3M | $15.3M | $10.5M | $13.2M | $11.4M | $6.6M |
| Capital expenditure | $51.8M | $37.2M | $37.1M | $110.4M | $138.0M | $72.7M | $62.4M | — | — | — |
| Investing cash flow | $86.1M | -$36.4M | -$35.7M | -$109.6M | -$130.8M | -$72.5M | -$60.8M | -$112.4M | -$194.1M | -$55.6M |
| Financing cash flow | -$41.8M | -$15.5M | -$9.9M | -$29.6M | $21.9M | -$19.0M | $37.7M | $75.1M | $207.0M | $40.8M |
| Buybacks | $18.2M | $0 | $0 | $13.4M | $0 | $0 | $0 | $1.5M | $15.1M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-059261.
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