olivLaw · US equity research
Deswell Industries, Inc. DSWL
Plastics Products, NEC · SIC 3089 · Vertical: Plastics Products, NEC (SIC 3089)
Deswell Industries is an independent manufacturer of injection-molded plastic parts, electronic products and subassemblies, and metallic molds for OEMs and contract manufacturers, with facilities in Dongguan, China. In fiscal 2026 net sales fell 9.3%, and electronic products made up 85.4% of total sales, showing reliance on the electronics segment at a time when margin pressure has grown.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Deswell Industries, Inc. (DSWL) stock was 2.93 USD (+1.74% on the day), with market capitalisation 46.5 m USD, P/E 4.4 on diluted EPS of 0.67 USD over the last 12 months, dividend yield 6.83%, beta 0.26, 52-week range 2.85–4.06 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 43.0
- weak (30–45)
- Bollinger (20, 2)
- 2.84 – 3.18
- in the lower half of the band · %B 0.27 · band width 11.2%
- SMA 50 / 200
- 3.05 / 3.30
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.05 / -0.04
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.7% | −1.1% | −1.6 pp | — |
| 3 months | −10.1% | −0.5% | −9.7 pp | — |
| 6 months | −13.1% | +4.4% | −17.4 pp | — |
| Year to date | −15.3% | +12.3% | −27.6 pp | — |
| 1 year | −10.9% | +13.5% | −24.5 pp | +38.0% |
| 3 years | +31.4% | +76.4% | −45.0 pp | +49.6% |
| 5 years | −28.9% | +63.7% | −92.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 11 percentile of its own 9-quarter history (min 3.4, median 7.2, max 21.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 66.6 m | 65.4 m | 64.9 m | 86.0 m | 77.3 m | 69.4 m | 67.6 m | 61.3 m |
| Revenue YoY | +9.7% | −1.8% | −0.7% | +32.5% | −10.1% | −10.3% | −2.5% | −9.3% |
| Net income | 4.3 m | -1.3 m | 8.2 m | 8.2 m | 2.1 m | 7.7 m | 11.1 m | 10.6 m |
| Net income YoY | −31.0% | −130.9% | unavailable | +0.0% | −75.0% | +274.4% | +44.5% | −4.6% |
| Diluted EPS | 0.27 | -0.08 | 0.51 | 0.51 | 0.13 | 0.48 | 0.70 | 0.67 |
| Diluted EPS YoY | −30.8% | −129.6% | unavailable | 0.0% | −74.5% | +269.2% | +45.8% | −4.3% |
| net % | 6.4% | -2.0% | 12.7% | 9.6% | 2.7% | 11.1% | 16.5% | 17.3% |
| Free cash flow | 1.3 m | 12.6 m | 2.7 m | -1.7 m | 12.2 m | 12.8 m | 13.2 m | 4.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 23.1 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 109.4 m USD
- Total assets
- 130.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 5.25x
- ROE
- 10.0%
- ROA
- 8.5%
- FCF margin
- 7.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 64.9 m | 86.0 m | 77.3 m | 69.4 m | 67.6 m | 61.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Cost of revenue | 51.7 m | 72.0 m | 64.5 m | 55.5 m | 54.0 m | 47.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Gross profit | 13.2 m | 14.0 m | 12.8 m | 13.9 m | 13.6 m | 13.7 m | SEC (XBRL)· 30 Jul 2026verified |
| SG&A | 10.3 m | 11.3 m | 11.0 m | 10.5 m | 11.3 m | 11.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Operating income | 3.3 m | 2.8 m | 2.9 m | 3.8 m | 3.3 m | 2.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Depreciation & amortisation | 1.8 m | 1.7 m | 1.7 m | 1.5 m | 1.5 m | 1.5 m | SEC (XBRL)· 30 Jul 2026verified |
| EBITDA | 5.0 m ≈ | 4.5 m ≈ | 4.6 m ≈ | 5.3 m ≈ | 4.8 m ≈ | 3.5 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Pre-tax income | 8.7 m | 8.1 m | 2.3 m | 7.8 m | 11.3 m | 10.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Income tax | 475.0 k | -165.0 k | 255.0 k | 110.0 k | 162.0 k | -363.0 k | SEC (XBRL)· 30 Jul 2026verified |
| Net income | 8.2 m | 8.2 m | 2.1 m | 7.7 m | 11.1 m | 10.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Diluted EPS | 0.51 | 0.51 | 0.13 | 0.48 | 0.70 | 0.67 | SEC (XBRL)· 30 Jul 2026verified |
| Weighted average diluted shares | 16.0 m | 16.1 k | 16.1 k | 16.0 k | 16.0 k | 15.9 k | SEC (XBRL)· 30 Jul 2026verified |
| Dividend per share | 0.18 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 20.2 m | 13.5 m | 22.2 m | 15.8 m | 28.1 m | 23.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Receivables | 14.7 m | 18.2 m | 15.7 m | 12.0 m | 9.9 m | 11.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Inventories | 16.2 m | 23.8 m | 17.3 m | 12.1 m | 9.5 m | 11.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Current assets | 78.7 m | 87.8 m | 81.2 m | 83.3 m | 96.5 m | 106.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Property, plant & equipment, net | 27.3 m | 27.0 m | 26.1 m | 24.6 m | 23.4 m | 22.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Total assets | 107.9 m | 115.4 m | 110.4 m | 111.1 m | 120.2 m | 130.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Accounts payable | 9.5 m | 9.8 m | 6.9 m | 5.2 m | 5.7 m | 6.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Current liabilities | 21.2 m | 24.0 m | 20.2 m | 16.4 m | 17.7 m | 20.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Total liabilities | 22.2 m | 24.6 m | 20.7 m | 16.9 m | 18.1 m | 20.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Equity | 85.7 m † | 90.8 m † | 89.6 m † | 94.2 m † | 102.1 m † | 109.4 m † | SEC (XBRL)· 30 Jul 2026verified |
| Shares outstanding at year end | 15.9 m | 15.9 m | 15.9 m | 15.9 m | 15.9 m | 15.9 m | SEC (XBRL)· 30 Jul 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.3 m | -183.0 k | 13.0 m | 13.2 m | 13.5 m | 5.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Capex | 551.0 k | 1.5 m | 792.0 k | 381.0 k | 332.0 k | 481.0 k | SEC (XBRL)· 30 Jul 2026verified |
| Free cash flow | 2.7 m ≈ | -1.7 m ≈ | 12.2 m ≈ | 12.8 m ≈ | 13.2 m ≈ | 4.7 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Investing cash flow | -2.7 m | -3.4 m | -1.1 m | -16.4 m | 2.0 m | -6.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Financing cash flow | -2.9 m | -3.1 m | -3.2 m | -3.2 m | -3.2 m | -3.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Dividends paid | 2.9 m | 3.2 m | 3.2 m | 3.2 m | 3.2 m | 3.2 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 76 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 46.5 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation100
- Balance sheet100
- Quality54
- Growth50
- Returns89
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.63 – 24.87 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E16.18 – 24.87 (Mid 20.69)6 companies used · median multiple 30.9x · quartiles 24.1x – 37.1xATR, AWI, CMT, ENTG, KRT, MYE
- Dividend discount (DDM)2.63 – 3.53 (Mid 3.01)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 76/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 17.3% | 88 (vs peers) | 10% |
| FCF conversion · Quality | 44.4% | 21 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -7.4% | 0 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 72.7% | 100 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 5.2x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 4.4x | 100 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 10.1% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 6.8% | 98 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 67.6% | 75 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality54/100 · 2/3 factors with a value
- Returns89/100 · 2/2 factors with a value
- Valuation100/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
DESWELL INDUSTRIES, INC. (DSWL). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 61.3 m USD in 2026; YoY growth -9.3%; net margin 17.3%; ROE 10.0%.
The estimated value range is 9.40–14.20 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 11.85 USD, the price of 2.93 USD leaves a potential of 304.6% (value / price − 1) and a margin of safety of 75.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 76/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 17.3%
- EPS CAGR 3Y: 72.7%
- Current ratio: 5.2x
- P/E (TTM): 4.4x
- FCF yield: 10.1%
- Shareholder yield (distributions): 6.8%
- Payout ratio (FCF): 67.6%
- The price is below the estimated value range
What contradicts it
- FCF conversion: 44.4%
- Revenue CAGR 3Y: -7.4%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Plastics Products, NEC (SIC 3089) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ENTGEntegris, Inc. | 21.8 bn | 55.7 | 9.6% | 11.1% | −1.4% | +85% / +37% |
| ATRAptarGroup, Inc | 9.3 bn | 35.6 | 9.9% | 6.7% | +5.4% | +18% / +16% |
| AWIArmstrong World Industries, Inc. | 7.4 bn | 23.5 | 36.0% | 18.4% | +12.1% | −7% / +107% |
| NWLNewell Brands Inc | 2.5 bn | — | -12.8% | -4.4% | −5.0% | +61% / −23% |
| MYEMyers Industries, Inc. | 1.1 bn | 37.6 | 9.7% | 3.3% | −1.3% | +58% / +62% |
| KRTKarat Packaging Inc. | 1.1 bn | 21.5 | 31.2% | 10.2% | +10.7% | +143% / +149% |
| SWIMLatham Group, Inc. | 963.2 m | 100.2 | 2.2% | 1.6% | +7.4% | +14% / +262% |
| CMTCore Molding Technologies, Inc. | 187.1 m | 26.1 | 4.4% | 2.4% | −9.5% | +12% / +18% |
| DSWLDeswell Industries, Inc. | 46.5 m | 4.4 | 10.0% | 17.3% | −9.3% | −11% / +31% |
1- and 3-year price returns: for DSWL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.56 Total return -42% · Per year -42% | 2.78 Total return 1% · Per year 1% | 4.21 Total return 51% · Per year 51% |
| 3 years | 1.24 Total return -45% · Per year -18% | 2.51 Total return 4% · Per year 1% | 4.21 Total return 67% · Per year 19% |
| 5 years | 0.99 Total return -47% · Per year -12% | 2.26 Total return 7% · Per year 1% | 4.21 Total return 83% · Per year 13% |
- Exit P/E± 0.63
- Net margin± 0.44
- Annual revenue growth± 0.40
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (18 Sept 2026).
In brief
Deswell Industries is an independent manufacturer of injection-molded plastic parts, electronic products and subassemblies, and metallic molds for OEMs and contract manufacturers, with facilities in Dongguan, China. In fiscal 2026 net sales fell 9.3% 1, and electronic products made up 85.4% of total sales 1, showing reliance on the electronics segment at a time when margin pressure has grown.
SWOT
Strengths
- The company has expertise in designing and manufacturing molds, which makes it hard to replace for customers who depend on the molds it stores 1. Operations in China offer low production costs and an integrated industrial base.
- The electronics segment, which accounts for most sales, showed a gross margin improvement in the latest fiscal year 1.
- The company finances capital expenditures from internally generated funds, reducing reliance on external financing 1.
Weaknesses
- The plastic injection molding segment posted an operating loss in the latest fiscal year, while corporate expenses increased 1.
- The company has no long-term raw material contracts and cannot always pass cost increases on to customers 1.
- Concentration of operations in Dongguan and dependence on one industrial activity limits geographic diversification 1.
Opportunities
- The trend of large manufacturers outsourcing to a small number of suppliers could increase volumes for companies with proven capacity and expertise 1.
- A rising share of higher-margin products and value-added services in the electronics segment could improve profitability 1.
- Unfinished construction capacity at Houjie could be used if demand for additional capacity grows 1.
Threats
- Rising plastic resin prices could compress margins, as the company cannot always pass them on to customers 1.
- Heightened competition and higher overheads could further erode the company's competitive advantage 1.
- Dependence on OEM and contract manufacturing customers, which can move orders, could affect sales stability 1.
Risks
- Dependence on existing customershigh
Lower orders from existing customers drove most of the sales decline in fiscal 2026 1. Losing major customers could significantly affect revenue.
- Plastic resin priceshigh
The company has no long-term contracts and says a significant increase in resin prices could have a material adverse effect on operations 1.
- Operating loss in plasticsmedium
The plastic injection molding segment posted an operating loss in fiscal 2026, and continuation of this trend could affect consolidated results 1.
- Geographic concentration in Chinamedium
All manufacturing is in southern China, exposing the company to political, tax and regulatory risks specific to that country 1.
- Currency fluctuationslow
Exchange losses increased in fiscal 2026 and contributed to lower other income, and currency volatility could continue to affect results 1.
Investment thesis
What would need to be true (bull case)
- If the trend of large manufacturers outsourcing to a small number of suppliers continues, Deswell could benefit from higher volumes, particularly in electronics 1.
- The gross margin gain in the electronics segment in fiscal 2026 shows that product mix can support profitability even with lower sales 1.
- Funding investment from internal cash flows and available production capacity could offer flexibility if demand rises 1.
What would break the thesis
- The sales decline in fiscal 2026 and the operating loss in plastics show that dependence on existing customers could lead to volatility 1.
- The lack of long-term resin contracts and difficulty passing on cost increases could compress margins further 1.
- The competitive advantage, which has eroded over the last three fiscal years, could be hard to regain if competition and overheads keep rising 1.
What to watch
- Segment sales trends and whether orders from existing customers recovernext 10-K
- Gross margin of the plastic injection molding segment and the effect of resin costs2027
- Level of corporate expenses and general production overheadsnext 10-K
- Utilization of Dongguan capacity and the decision on completing construction at Houjie2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (18 Sept 2026).
The business
Deswell is not an operating company but a holding company that conducts its operations through subsidiaries primarily in Macao and mainland China 1. The company produces plastic components by injection molding, electronic assemblies and metallic molds for customers in electronics, consumer and industrial products. Its principal administrative office is in Macao, and its principal manufacturing facilities are in Dongguan, Guangdong 1.
The business model rests on the ability to make high-end parts for customers that outsource production, and the company says its mold-design expertise and low production costs distinguish it from most plastic parts makers 1. Management however states that this advantage has been harder to maintain because of increased competition and higher production overheads over the last three fiscal years 1.
Purchases of raw materials are dominated by plastic resins, mainly ABS, which are commodity products with no long-term supply agreements 1. The company says it has found resin price increases difficult to pass on to customers, and a significant increase in resin prices could have a material adverse effect on operations 1.
Segments
Plastic injection molding segment
The plastics segment makes parts for electronic entertainment products, power tools, printer and telephone cases, automotive components and robotic mop and vacuum parts 1. In fiscal 2026 the segment posted an operating loss as sales fell and raw material and labor costs rose relative to revenue 1.
Corporate expenses and other items
Corporate expenses, which include director remuneration and legal and professional fees, have been disclosed separately since fiscal 2018 1. In fiscal 2026 they rose significantly from the prior year, which contributed to lower operating profitability for the company 1.
Market context
Management believes the injection molding industry has benefited from a trend among major users of molded parts to outsource a growing share of requirements to a small number of suppliers 1. According to the company, smaller molders, which make up most of the industry in China, cannot react quickly or deliver the quality high-end products require 1.
On the electronics side, OEMs have increasingly turned to contract manufacturers because of rising costs of operating a plant and the need for more sophisticated processes, gaining access to low labor and overhead costs and shorter time to market 1. Shorter product life cycles reinforce this outsourcing trend 1.
Trends
- Outsourcing to contract manufacturerstailwind
Major equipment makers concentrate resources on design and marketing and rely on outside suppliers for production, which opens room for companies like Deswell 1. If this trend continues it could support longer-term volumes.
- Cost of plastic resinsheadwind
The company has no long-term resin contracts and says it cannot always pass resin price increases on to customers 1. If resin prices rise, margins could be affected.
- Competition and production costsheadwind
Management states that the competitive advantage has eroded over the last three fiscal years because of increased competition and higher production overheads 1. This persistent pressure could limit the ability to keep margins stable.
- Shift toward higher-value productsmixed
The rise in electronics segment profitability, from higher-margin products and value-added services, shows that product mix can support results 1. The effect depends on whether such orders continue.
Competitive position
Deswell operates in a fragmented industry in which small injection molders make up most of the Chinese market but cannot match the quality and responsiveness demanded by top customers 1. The company says its mold expertise and low costs differentiate it from these competitors and from other plastic parts makers 1.
The main competitive pressure, according to management, comes from other suppliers that can offer the same contract manufacturing services at comparable cost, which has eroded the company's advantage over the last three fiscal years 1. The sources do not identify U.S.-listed companies as direct rivals.
- Small plastic injection molders in China
They make up most of the industry but, according to the company, are less able to respond quickly and deliver the quality top customers require 1.
- Other electronics contract manufacturers
They compete for the same OEM customers that outsource production, offering access to low labor and overhead costs 1.
- Mold makers in Japan, Korea and Taiwan
The company states it can produce molds at costs substantially below comparable-quality molds made in these countries 1.
- Other plastic parts manufacturers
The company views itself as differentiated from these makers by part quality and mold design expertise, although that advantage has eroded 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)18 Sept 2026
- Current report (foreign issuer)30 Jul 2026
- Annual report (foreign issuer)30 Jul 2026
- Current report (foreign issuer)17 Jun 2026
- Current report (foreign issuer)03 Feb 2026
- Current report (foreign issuer)20 Nov 2025
- Current report (foreign issuer)13 Nov 2025
- Current report (foreign issuer)19 Sept 2025
- Current report (foreign issuer)29 Jul 2025
- Annual report (foreign issuer)29 Jul 2025
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / Deswell Industries, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.