HIGHBuilt-inGeographic
98%
international sales (outside U.S.)
“10-K Item 1A: 'Approximately 98% of our net revenue for each of the years ended December 31, 2025, 2024 and 2023 was generated by sales to customers outside of the U.S.'”
POWI · Concentration risk · 10-K extracted
Power Integrations (POWI) concentration risks
Updated
The most significant concentration Power Integrations discloses is international sales (outside U.S.) at 98%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Power Integrations’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
81%
top ten customers
“10-K Item 1: 'Our top ten customers, including distributors that resell to OEMs and merchant power supply manufacturers, accounted for approximately 81%, 79% and 80% of net revenue in 2025'”
MEDIUMOutside partySupplier
Epson, Lapis, X-FAB wafer foundries
“10-K Item 1A: 'Our primary supply arrangements for the production of wafers are with Epson, Lapis and X-FAB.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company carries substantial concentration across two dimensions that reinforce each other. Geographically, approximately 98% of net revenue for each of 2023, 2024, and 2025 was generated by sales to customers outside of the U.S. — a high share by disclosed size and structural in character, reflecting where the company's end-markets are situated rather than reliance on any single country. On the customer side, the top ten customers, including distributors that resell to original equipment manufacturers and merchant power supply manufacturers, accounted for approximately 81% of net revenue in 2025 — also a high share. This is a dependency-character exposure: a significant portion of revenue moves through a small number of distribution relationships, meaning that order timing, inventory management, and strategy decisions at those distributors can swing reported results materially from period to period. On the supply side, primary wafer production arrangements are with Epson, Lapis, and X-FAB — a moderate share dependency by disclosed size. The reliance on a small set of foundry partners introduces idiosyncratic operational risk: any disruption to wafer supply from these sources would constrain the company's ability to fulfill orders. Taken together, the profile is concentrated at both the revenue and supply ends of the value chain. The geographic tilt amplifies sensitivity to regional demand cycles and currency, while the customer and foundry dependencies mean that business-continuity risk is relatively pinpointed.
For the engine’s reasoning on POWI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Semiconductors
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALAB | Astera Labs, Inc. | 3 | 0 | 0 | 3 |
| AVGO | Broadcom Inc. | 2 | 1 | 0 | 3 |
| POWI● | Power Integrations, Inc. | 2 | 1 | 0 | 3 |
| ADI | Analog Devices, Inc. | 2 | 0 | 0 | 2 |
| ALGM | Allegro MicroSystems, Inc. | 1 | 2 | 0 | 3 |
| AMD | Advanced Micro Devices, Inc. | 1 | 2 | 0 | 3 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.