Deswell Industries, Inc. (DSWL) Financial Ratios
30 years of historical data (1996–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↓
5.40
-2% vs avg
5yr avg: 5.52
30Y Low0.6·High70.1
P/FCF
↓
4.11
↓-45% vs avg
5yr avg: 7.44
30Y Low2.8·High37.3
P/B Ratio
↓
0.53
+5% vs avg
5yr avg: 0.51
30Y Low0.2·High2.6
ROE
↑
11.3%
↓+38% vs avg
5yr avg: 8.3%
30Y Low-8%·High31%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low0.0·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DSWL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Deswell Industries, Inc. trades at 4.9x earnings, 43% below its 5-year average of 8.5x, sitting at the 9th percentile of its historical range. Compared to the Technology sector median P/E of 27.7x, the stock trades at a discount of 82%. On a free-cash-flow basis, the stock trades at 4.1x P/FCF, 45% below the 5-year average of 7.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $54M | $38M | $36M | $43M | $59M | $57M | $35M | $48M | $50M | $31M | $27M |
| Enterprise Value | $26M | $10M | $20M | $20M | $46M | $36M | $13M | $34M | $35M | $23M | $15M |
| P/E Ratio → | 4.86 | 3.37 | 4.67 | 20.38 | 7.18 | 6.92 | — | 11.07 | 8.00 | 21.67 | — |
| P/S Ratio | 0.80 | 0.56 | 0.52 | 0.55 | 0.69 | 0.87 | 0.54 | 0.72 | 0.82 | 0.70 | 0.61 |
| P/B Ratio | 0.53 | 0.37 | 0.38 | 0.48 | 0.65 | 0.66 | 0.44 | 0.57 | 0.61 | 0.41 | 0.36 |
| P/FCF | 4.11 | 2.85 | 2.79 | 3.49 | — | 20.64 | 2.80 | 37.28 | 12.49 | — | — |
| P/OCF | 4.01 | 2.78 | 2.71 | 3.28 | — | 17.19 | 2.69 | 22.17 | 8.75 | — | 48.48 |
P/E links to full P/E history page with 30-year chart
DSWL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Deswell Industries, Inc.'s enterprise value stands at 5.4x EBITDA, roughly in line with its 5-year average of 5.5x. The Technology sector median is 17.5x, placing the stock at a 69% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.14 | 0.29 | 0.26 | 0.53 | 0.56 | 0.20 | 0.51 | 0.57 | 0.52 | 0.34 |
| EV / EBITDA | 5.40 | 1.97 | 3.78 | 4.45 | 10.14 | 7.26 | 3.78 | 70.09 | 8.80 | 724.70 | — |
| EV / EBIT | 7.87 | 3.92 | 2.57 | 6.54 | 5.65 | 4.18 | 8.32 | 82.46 | 21.92 | — | — |
| EV / FCF | — | 0.72 | 1.57 | 1.67 | — | 13.27 | 1.02 | 26.12 | 8.69 | — | — |
DSWL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Deswell Industries, Inc. earns an operating margin of 4.9%. Operating margins have expanded from 3.7% to 4.9% over the past 3 years, signaling improving operational efficiency. ROE of 11.3% is modest. ROIC of 3.3% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.2% | 20.2% | 20.0% | 16.6% | 16.3% | 20.3% | 18.1% | 15.4% | 16.0% | 16.7% | 10.8% |
| Operating Margin | 4.9% | 4.9% | 5.5% | 3.7% | 3.2% | 5.0% | 2.2% | -2.5% | 3.0% | -4.7% | -12.0% |
| Net Profit Margin | 16.5% | 16.5% | 11.1% | 2.7% | 9.6% | 12.7% | -2.0% | 6.4% | 10.2% | 3.1% | -11.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.3% | 11.3% | 8.4% | 2.3% | 9.3% | 9.9% | -1.6% | 5.2% | 7.9% | 1.8% | -6.1% |
| ROA | 9.6% | 9.6% | 7.0% | 1.8% | 7.4% | 8.1% | -1.4% | 4.3% | 6.5% | 1.5% | -5.4% |
| ROIC | 3.3% | 3.3% | 3.9% | 3.0% | 2.9% | 4.0% | 1.7% | -1.8% | 2.0% | -2.4% | -6.0% |
| ROCE | 3.4% | 3.4% | 4.1% | 3.2% | 3.1% | 3.9% | 1.7% | -2.0% | 2.3% | -2.7% | -6.6% |
DSWL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $28M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.28 | -0.17 | -0.25 | -0.15 | -0.24 | -0.28 | -0.17 | -0.19 | -0.11 | -0.16 |
| Net Debt / EBITDA | -5.82 | -5.82 | -2.97 | -4.82 | -3.00 | -4.03 | -6.65 | -29.94 | -3.86 | -252.44 | — |
| Debt / FCF | — | -2.13 | -1.23 | -1.82 | — | -7.37 | -1.78 | -11.16 | -3.81 | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($28M) exceeds total debt ($0)
DSWL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Deswell Industries, Inc.'s current ratio of 5.45x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 4.91x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 4.01x to 5.45x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.45 | 5.45 | 5.07 | 4.01 | 3.67 | 3.71 | 4.57 | 4.50 | 3.60 | 3.79 | 4.71 |
| Quick Ratio | 4.91 | 4.91 | 4.33 | 3.15 | 2.68 | 2.95 | 3.97 | 3.66 | 2.93 | 3.07 | 3.95 |
| Cash Ratio | 4.26 | 4.26 | 3.52 | 2.32 | 1.83 | 2.14 | 2.99 | 2.52 | 1.70 | 2.02 | 2.87 |
| Asset Turnover | — | 0.56 | 0.62 | 0.70 | 0.74 | 0.60 | 0.69 | 0.66 | 0.60 | 0.49 | 0.51 |
| Inventory Turnover | 5.70 | 5.70 | 4.57 | 3.73 | 3.00 | 3.19 | 6.24 | 4.32 | 3.94 | 3.47 | 4.90 |
| Days Sales Outstanding | — | 54.72 | 64.10 | 73.92 | 78.29 | 85.30 | 68.69 | 88.62 | 96.79 | 107.88 | 77.52 |
DSWL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Deswell Industries, Inc. returns 5.9% to shareholders annually primarily through dividends. The payout ratio of 28.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 20.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.9% | 8.5% | 8.9% | 7.5% | 5.4% | 5.1% | 6.8% | 3.3% | 2.2% | 7.2% | 6.2% |
| Payout Ratio | 28.6% | 28.6% | 41.4% | 154.8% | 38.7% | 34.8% | — | 37.2% | 18.0% | 163.4% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 20.6% | 29.7% | 21.4% | 4.9% | 13.9% | 14.4% | — | 9.0% | 12.5% | 4.6% | — |
| FCF Yield | 24.3% | 35.1% | 35.8% | 28.7% | — | 4.8% | 35.7% | 2.7% | 8.0% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% |
| Total Shareholder Yield | 5.9% | 8.5% | 8.9% | 7.5% | 5.4% | 5.1% | 6.8% | 3.3% | 2.2% | 8.2% | 6.2% |
| Shares Outstanding | — | $16M | $16M | $16M | $16M | $16M | $16M | $16M | $16M | $16M | $16M |
Peer Comparison
Compare DSWL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DSWLYou | $54M | 4.9 | 5.4 | 4.1 | 20.2% | 4.9% | 11.3% | 3.3% | — |
 PLPC | $2B | 48.5 | 21.3 | 50.9 | 31.4% | 8.2% | 7.9% | 9.8% | 0.6 |
 LYTS | $765M | 31.1 | 17.1 | 22.1 | 24.7% | 6.2% | 11.2% | 9.5% | 1.4 |
 IIIN | $524M | 12.8 | 6.7 | 27.6 | 14.4% | 8.4% | 11.4% | 14.1% | 0.1 |
 KFRC | $794M | 22.2 | 15.5 | 17.0 | 26.8% | 3.8% | 24.9% | 19.1% | 1.3 |
 SMTC | $11B | -53.9 | 104.8 | 256.8 | 50.1% | 6.8% | -137.7% | 4.9% | 5.0 |
 VICR | $12B | 98.3 | 194.0 | 97.0 | 52.6% | 9.0% | 18.5% | 8.9% | 0.2 |
 TTMI | $16B | 93.6 | 41.5 | — | 19.6% | 9.0% | 10.7% | 8.8% | 2.7 |
 SANM | $14B | 55.7 | 27.4 | 28.7 | 8.8% | 4.4% | 10.0% | 13.0% | 0.8 |
 PLXS | $7B | 42.6 | 25.0 | 46.4 | 10.1% | 5.0% | 12.4% | 11.8% | 0.6 |
 JBL | $38B | 60.0 | 21.3 | 32.6 | 8.9% | 4.0% | 40.4% | 30.9% | 1.8 |
| Technology Median | — | 27.7 | 17.5 | 19.8 | 48.6% | -0.7% | 2.2% | 2.9% | 2.9 |
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Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonDSWL — Frequently Asked Questions
Quick answers to the most common questions about buying DSWL stock.
What is Deswell Industries, Inc.'s P/E ratio?
Deswell Industries, Inc.'s current P/E ratio is 4.9x. The historical average is 14.8x. This places it at the 9th percentile of its historical range.
What is Deswell Industries, Inc.'s EV/EBITDA?
Deswell Industries, Inc.'s current EV/EBITDA is 5.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.8x.
What is Deswell Industries, Inc.'s ROE?
Deswell Industries, Inc.'s return on equity (ROE) is 11.3%. The historical average is 8.5%.
Is DSWL stock overvalued?
Based on historical data, Deswell Industries, Inc. is trading at a P/E of 4.9x. This is at the 9th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Deswell Industries, Inc.'s dividend yield?
Deswell Industries, Inc.'s current dividend yield is 5.87% with a payout ratio of 28.6%.
What are Deswell Industries, Inc.'s profit margins?
Deswell Industries, Inc. has 20.2% gross margin and 4.9% operating margin.