Deswell Industries, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsDeswell Industries, Inc. is a British Virgin Islands-incorporated, NASDAQ-listed manufacturer of plastic components and electronic products operating from Macao and the PRC, reporting fiscal 2026 revenue of $61.3 million.
What they do
Deswell Industries, Inc. is a holding company whose operations are conducted through subsidiaries in Macao and the PRC. The company prepares its consolidated financial statements under U.S. GAAP and reports in U.S. dollars, with the U.S. dollar as the functional currency of the company and its subsidiaries. Its principal executive offices are located in Macao. The company is classified under the SIC industry category Plastics Products, NEC.
Revenue drivers
- Plastic components manufacturing — The company is classified in the Plastics Products, NEC industry, and its operations include manufacturing activities conducted through subsidiaries in Macao and the PRC; the source filings provided do not break out revenue by segment.
- Electronic products — The available excerpts do not describe specific electronic product lines or their revenue contribution, so no segment-level figures can be reported.
- Consolidated operations in Macao and the PRC — Revenue is generated by operating subsidiaries based in Macao and the PRC, reported in U.S. dollars; no further detail on customer or product mix is provided in the excerpts.
Recent performance
Annual revenue declined for a fourth consecutive year, from $86.0 million in fiscal 2022 to $77.3 million in 2023, $69.4 million in 2024, $67.6 million in 2025 and $61.3 million in fiscal 2026. Net income was $10.6 million in fiscal 2026, down from $11.1 million in fiscal 2025 but well above the $2.1 million reported in fiscal 2023. Diluted EPS was $0.67 in fiscal 2026 versus $0.70 in fiscal 2025. Operating cash flow fell to $5.2 million in fiscal 2026 from $13.5 million in fiscal 2025. The company paid dividends of $0.20 per share in each year from fiscal 2022 through fiscal 2026.
Strategy
The provided filing excerpts do not include a management discussion of strategy, capital allocation priorities or planned investments. The company continues to operate through subsidiaries in Macao and the PRC and reports under U.S. GAAP in U.S. dollars. No product expansion, acquisition or restructuring plans are described in the source material.
Risks
- Declining revenue — Annual revenue has fallen from $86.0 million in fiscal 2022 to $61.3 million in fiscal 2026, a decline of roughly 29% over four years.
- Operating cash flow volatility — Operating cash flow dropped to $5.2 million in fiscal 2026 from $13.5 million in fiscal 2025, and was negative $183,000 in fiscal 2022.
- Concentration in Macao and the PRC — Operations are conducted through subsidiaries in Macao and the PRC, exposing the company to conditions and regulatory requirements in those jurisdictions.
- Forward-looking statement uncertainty — The company states that its forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
Outlook
The provided excerpts do not contain management guidance or a stated outlook for fiscal 2027. Management notes that forward-looking statements reflect its view only as of the date of the annual report and that the company undertakes no obligation to revise them for subsequent events. No specific revenue, margin or cash flow targets are disclosed in the source material.