A Business at a Glance
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DESWELL INDUSTRIES INC
DSWL
$49M
Mkt Cap
$3.10
+0.32%
ITEM 4. INFORMATION ON THE COMPANY History and Development of the Company Deswell Industries, Inc. was founded in 1987 in Hong Kong and moved its manufacturing operations to China in 1990 to take advantage of lower overhead cost, competitive labor rate and tax concessions available in Shenzhen, China as compared with Hong Kong. We were incorporated in December 1993 as a limited liability International Business Company under the British Virgin Islands International Business Companies Act, 1984 (the “IBC Act”). Effective on January 1, 2007, the BVI repealed the IBC Act, and simultaneously with such repeal, we were automatically re-registered under the BVI’s corporate law replacing the IBC Act, the BVI Business Companies Act, 2004 (the “BVI BC Act”). The Company’s registered agent in the BVI is Harneys Corporate Services Limited, P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 61M | 61M | 68M | 69M | 77M | 86M |
| Net Income | 11M | 11M | 11M | 7.7M | 2.1M | 8.2M |
| EPS | $0.67 | $0.67 | $0.70 | $0.48 | $0.13 | $0.51 |
| Free Cash Flow | 4.7M | 4.7M | 13M | 13M |
| Metric | 2026 | TTM | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 38M | 45M | 45M | 61M | 67M | 65M | 65M | 86M | 77M | 69M | 68M | 61M | 61M |
| Gross Margin | 11.1% | 10.8% | 16.7% | 16.0% | 15.4% | 18.1% | 20.3% | 16.2% | 16.6% | 20.0% | 20.2% | 22.4% | 22.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 9.1M | 9.1M | 8.9M | 8.8M | 9.5M | 10M | 10M | 11M | 11M | 11M | 11M | 12M | 12M |
| EBIT | -4.8M | -5.3M | -2.1M | 1.8M | 533K | 1.4M | N/A | 2.8M | 2.9M | 3.8M | 3.3M | 2.0M | 2.0M |
| Op. Margin | -12.6% | -12.0% | -4.7% | 3.0% | 0.8% | 2.2% | N/A | 3.2% | 3.7% | 5.5% | 4.9% | 3.2% | 3.2% |
| Net Income | -2.8M | -4.9M | 1.4M | 6.2M | 4.3M | -1.3M | 8.2M | 8.2M | 2.1M | 7.7M | 11M | 11M | 11M |
| Net Margin | -7.4% | -11.1% | 3.1% | 10.2% | 6.4% | -2.0% | 12.7% | 9.6% | 2.7% | 11.1% | 16.5% | 17.3% | 17.3% |
| Non-Recurring | 392K | 3.0M | 3.1M | 3.1M | 3.1M | 3.0M | 2.9M | 2.8M | 134K | -50K | 92K | 686K | 686K |
| Returns on Capital | |||||||||||||
| ROIC | -3.3% | -6.1% | 1.8% | 7.9% | 5.2% | 3.4% | N/A | 5.8% | 5.2% | 7.3% | 11.3% | 10.0% | 9.7% |
| ROE | -3.3% | -6.1% | 1.8% | 7.9% | 5.2% | -1.6% | 9.9% | 9.3% | 2.3% | 8.4% | 11.3% | 10.0% | 9.7% |
| ROA | -2.9% | -5.4% | 1.5% | 6.5% | 4.3% | -1.4% | 8.1% | 7.4% | 1.8% | 7.0% | 9.6% | 8.5% | 8.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -2.4M | 563K | -1.1M | 5.7M | 2.2M | 13M | 3.3M | -183K | 13M | 13M | 14M | 5.2M | 5.2M |
| Free Cash Flow | -3.3M | -28K | -3.2M | 4.0M | 1.3M | 13M | 2.7M | -1.7M | 12M | 13M | 13M | 4.7M | 4.7M |
| Owner Earnings | -5.4M | -1.8M | -3.2M | 2.3M | -1.2M | 9.9M | 273K | -3.2M | 10.0M | 10M | 10M | 2.0M | 2.0M |
| CapEx | 890K | 591K | 2.2M | 1.7M | 878K | 507K | 551K | 1.5M | 792K | 381K | 332K | 481K | 481K |
| Maint. CapEx | 2.8M | 2.4M | 2.1M | 2.1M | 2.1M | 2.0M | 1.8M | 1.7M | 1.7M | 1.5M | 1.5M | 1.5M | 1.5M |
| Growth CapEx | 0 | 0 | 17K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 2.8M | 2.4M | 2.1M | 2.1M | 2.1M | 2.0M | 1.8M | 1.7M | 1.7M | 1.5M | 1.5M | 1.5M | 1.5M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 3.0M | 1.7M | 2.2M | 1.1M | 1.6M | 2.4M | 2.9M | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.5% |
| Share Buybacks | 1.4M | 0 | 308K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 169K | 169K |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Stock-Based Comp | 199K | 0 | 0 | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 1.7M | 1.7M | 1.7M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -23M |
| Cash & Equiv. | 14M | 12M | 8.1M | 15M | 14M | 23M | 20M | 13M | 22M | 16M | 28M | 23M | 23M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.15 | 0.14 | 0.19 | 0.24 | 0.19 | 0.19 | 0.26 | 0.27 | 0.23 | 0.18 | 0.18 | 0.19 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 84M | 77M | 76M | 81M | 84M | 80M | 86M | 91M | 90M | 94M | 102M | 109M | 109M |
| Total Assets | 96M | 88M | 91M | 100M | 100M | 95M | 108M | 115M | 110M | 111M | 120M | 130M | 130M |
| Total Liabilities | 12M | 11M | 15M | 19M | 16M | 15M | 22M | 25M | 21M | 17M | 18M | 21M | 21M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 20M | 13M | 13M | 18M | 20M | 17M | 22M | 27M | 26M | 31M | 38M | 46M | 46M |
| Working Capital | 46M | 40M | 41M | 50M | 54M | 51M | 57M | 64M | 61M | 67M | 79M | 87M | 87M |
| Current Assets | 58M | 51M | 56M | 69M | 70M | 65M | 79M | 88M | 81M | 83M | 96M | 107M | 107M |
| Current Liabilities | 12M | 11M | 15M | 19M | 16M | 14M | 21M | 24M | 20M | 16M | 18M | 20M | 20M |
| Per Share Data | |||||||||||||
| EPS | -0.17 | -0.31 | 0.09 | 0.39 | 0.27 | -0.08 | 0.51 | 0.51 | 0.13 | 0.48 | 0.70 | 0.67 | 0.67 |
| Owner EPS | -0.33 | -0.11 | -0.21 | 0.14 | -0.08 | 0.60 | 0.02 | -0.20 | 0.63 | 0.65 | 0.65 | 0.13 | 0.13 |
| Book Value | 5.09 | 4.83 | 4.98 | 5.12 | 5.31 | 4.87 | 5.31 | 5.62 | 5.66 | 5.86 | 6.42 | 6.90 | 6.90 |
| Cash Flow/Share | -0.14 | 0.04 | -0.07 | 0.36 | 0.14 | 0.80 | 0.20 | -0.01 | 0.82 | 0.82 | 0.85 | 0.33 | 0.76 |
| Dividends/Share | 0.19 | 0.14 | 0.11 | 0.07 | 0.10 | 0.15 | 0.18 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Shares Out. | 16.5M | 15.9M | 15.3M | 15.9M | 15.8M | 16.5M | 16.1M | 16.1M | 15.8M | 16.1M | 15.9M | 15.9M | 15.9M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.2 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.4 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.6% |
| Market Cap | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49M |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.10 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.10 |
DESWELL INDUSTRIES INC passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 7.9% with a gross margin of 19.1%. Total shareholder yield (dividends + buybacks) is 6.8%.
DESWELL INDUSTRIES INC (DSWL) has a current P/E ratio of 4.6.
DESWELL INDUSTRIES INC (DSWL) has a 5-year average return on invested capital (ROIC) of 7.9%. This is below average and may indicate limited pricing power.
DESWELL INDUSTRIES INC (DSWL) has a market capitalization of $49M. It is classified as a small-cap stock.
Yes, DESWELL INDUSTRIES INC (DSWL) pays a dividend with a trailing twelve-month yield of 6.48%. The company also returns capital through share buybacks, with a buyback yield of 0.34%.
DESWELL INDUSTRIES INC (DSWL) operates in the Plastics Products, Nec industry, within the Materials sector.
DESWELL INDUSTRIES INC (DSWL) reported annual revenue of $61 million in its most recent fiscal year, based on SEC EDGAR filings.
DESWELL INDUSTRIES INC (DSWL) has a net profit margin of 17.3%. This is a healthy margin.
| 12M |
| -1.7M |
| ROIC | 9.7% | 10.0% | 11.3% | 7.3% | 5.2% | 5.8% |
|---|
| Gross Margin | 22.4% | 22.4% | 20.2% | 20.0% | 16.6% | 16.2% |
|---|
| Debt/Equity | 0.00 | 0.19 | 0.18 | 0.18 | 0.23 | 0.27 |
|---|
| Dividends/Share | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 |
|---|
| Operating Income | 2.0M | 2.0M | 3.3M | 3.8M | 2.9M | 2.8M |
|---|
| Operating Margin | 3.2% | 3.2% | 4.9% | 5.5% | 3.7% | 3.2% |
|---|
| ROE | 9.7% | 10.0% | 11.3% | 8.4% | 2.3% | 9.3% |
|---|
| Shares Outstanding | 16M | 16M | 16M | 16M | 16M | 16M |
|---|
DESWELL INDUSTRIES INC (DSWL) generated $5 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
DESWELL INDUSTRIES INC (DSWL) has a debt-to-equity ratio of 0.19. This indicates a conservatively financed balance sheet.
DESWELL INDUSTRIES INC (DSWL) reported earnings per share (EPS) of $0.67 in its most recent fiscal year.
DESWELL INDUSTRIES INC (DSWL) has a return on equity (ROE) of 10.0%. This indicates moderate shareholder returns.
DESWELL INDUSTRIES INC (DSWL) has a 5-year average gross margin of 19.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for DESWELL INDUSTRIES INC (DSWL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
DESWELL INDUSTRIES INC (DSWL) has a book value per share of $6.90, based on its most recent annual SEC filing.