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Communication equipment · Technology · Fiscal year ends Sep 30
Digi International reported revenue of $430M in the fiscal year ended Sep 2025, up 1.5% from the year before. Operating income was $56M, an operating margin of 13.1%, and net income was $41M. Operating cash flow of $108M less capital expenditure of $3M left free cash flow of $105M. Net debt was $137M.
Ranks among the 15 communication equipment companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 309 | 388 | 445 | 424 | 430 |
| Cost of revenue | 142 | 172 | 193 | 174 | 160 |
| Gross profit | 167 | 216 | 252 | 250 | 271 |
| Research & development | 46.6 | 55.1 | 58.6 | 60.3 | 63.7 |
| Selling, general & admin | 104 | 129 | 143 | 142 | 151 |
| Operating income | 10.5 | 38.2 | 50.1 | 48.1 | 56.3 |
| Interest expense | 1.4 | 19.7 | 25.2 | 15.4 | 6.3 |
| Pre-tax income | 9.0 | 18.6 | 24.9 | 22.9 | 49.9 |
| Income tax | −1.4 | −0.8 | 0.1 | 0.4 | 9.1 |
| Net income | 10.4 | 19.4 | 24.8 | 22.5 | 40.8 |
| Diluted EPS | 0.31 | 0.54 | 0.67 | 0.61 | 1.08 |
| Diluted shares | 33.4 | 36.0 | 36.9 | 37.0 | 37.7 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 152 | 34.9 | 31.7 | 27.5 | 21.9 |
| Receivables | 43.7 | 50.5 | 56.0 | 69.6 | 63.5 |
| Inventory | 43.9 | 73.2 | 74.4 | 53.4 | 38.9 |
| Current assets | 247 | 166 | 166 | 154 | 131 |
| Net PP&E | 12.1 | 27.6 | 29.1 | 34.9 | 34.0 |
| Goodwill | 226 | 340 | 342 | 343 | 393 |
| Total assets | 620 | 854 | 836 | 815 | 923 |
| Payables | 22.6 | 32.4 | 17.1 | 23.8 | 35.9 |
| Deferred revenue | 13.6 | 19.8 | 25.3 | 30.6 | 40.7 |
| Current liabilities | 58.9 | 96.5 | 86.0 | 89.3 | 108 |
| Short-term debt | 0.0 | 15.5 | 15.5 | 0.0 | 0.0 |
| Long-term debt | 45.8 | 222 | 188 | 123 | 159 |
| Total liabilities | 147 | 352 | 295 | 234 | 287 |
| Shareholders' equity | 473 | 502 | 540 | 581 | 636 |
| Backlog (remaining obligations) | 17.4 | 21.6 | 153 | 151 | 204 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 57.7 | 37.7 | 36.8 | 83.1 | 108 |
| Capital expenditure | 2.3 | 2.0 | 4.3 | 2.2 | 2.6 |
| Free cash flow | 55.5 | 35.8 | 32.4 | 80.9 | 105 |
| Depreciation & amortisation | 20.9 | 33.8 | 32.0 | 33.1 | 34.0 |
| Stock-based compensation | 8.1 | 8.6 | 13.3 | 13.2 | 15.4 |
| Acquisitions | 19.1 | 348 | 0.0 | 0.0 | 146 |
| Share buybacks | 2.1 | 6.7 | 4.3 | 3.6 | 6.9 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 25.8% | 14.6% | −4.7% | 1.5% |
| Operating income growth (YoY) | – | 263.0% | 31.1% | −4.0% | 17.1% |
| EPS growth (YoY) | – | 74.2% | 24.1% | −9.0% | 77.0% |
| Gross margin | 54.0% | 55.7% | 56.7% | 58.9% | 62.9% |
| Operating margin | 3.4% | 9.8% | 11.3% | 11.3% | 13.1% |
| Net margin | 3.4% | 5.0% | 5.6% | 5.3% | 9.5% |
| Return on equityBlank when equity is negative | 2.2% | 3.9% | 4.6% | 3.9% | 6.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 1.9% | 5.0% | 6.7% | 6.6% | 6.9% |
| Free cash flow margin | 18.0% | 9.2% | 7.3% | 19.1% | 24.5% |
| Cash conversion (CFO ÷ net income) | 5.57x | 1.95x | 1.48x | 3.69x | 2.65x |
| Receivable days | 52 | 47 | 46 | 60 | 54 |
| Inventory days | 113 | 155 | 141 | 112 | 89 |
| Payable days | 58 | 69 | 32 | 50 | 82 |
| Interest cover | 7.60x | 1.94x | 1.99x | 3.12x | 8.91x |
| Debt ÷ equity | 0.10x | 0.47x | 0.38x | 0.21x | 0.25x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −107 | 203 | 172 | 95.7 | 137 |
| Current ratio | 4.18x | 1.72x | 1.93x | 1.73x | 1.21x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.