MONOLITHIC POWER SYSTEMS, INC. MPWR
Monolithic Power Systems, Inc. is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. Incorporated in 1997, our three core strengths include deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable us to deliver reliable, compact, and monolithic solutions found in storage and computing, enterprise data, automotive, industrial, communications and consumer applications. Our mission is to reduce energy and material consumption to improve all aspects of quality of life and create a sustainable future. We believe that we differentiate ourselves by offering solutions that are more highly integrated, smaller in size, more energy-efficient, more accurate and more reliable with respect to performance specifications and, consequently, more cost-effective than many competing solutions. We plan to continue to introduce new products within our existing product families, as well as new, innovative products that expand our market.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.79B | $2.21B | $1.82B | $1.79B | $1.21B | $844.5M | $627.9M | $582.4M | $470.9M | $388.7M |
| Cost of revenue | $1.25B | $986.2M | $800.0M | $745.6M | $522.3M | $378.5M | $281.6M | $259.7M | $212.6M | $177.8M |
| Gross profit | $1.54B | $1.22B | $1.02B | $1.05B | $685.5M | $466.0M | $346.3M | $322.7M | $258.3M | $210.9M |
| SG&A | $428.8M | $356.8M | $275.7M | $281.6M | $232.4M | $161.7M | $133.5M | $113.8M | $97.3M | $83.0M |
| Total operating expenses | $811.1M | $681.5M | $539.4M | $521.8M | $423.0M | $307.1M | $243.8M | $209.2M | $180.9M | $156.4M |
| Operating income | $728.6M | $539.4M | $481.7M | $526.8M | $262.4M | $158.9M | $102.6M | $113.5M | $77.4M | $54.4M |
| Pre-tax income | $766.2M | $572.9M | $505.8M | $524.9M | $272.2M | $169.3M | $113.1M | $118.5M | $82.9M | $57.3M |
| Income tax | $144.7M | $1.02B | $78.5M | $87.3M | $30.2M | $5.0M | $4.3M | $13.2M | $17.7M | $4.5M |
| Net income | $621.5M | $1.59B | $427.4M | $437.7M | $242.0M | $164.4M | $108.8M | $105.3M | $65.2M | $52.7M |
| EPS, basic | 12.94 | 32.76 | 8.98 | 9.37 | 5.28 | 3.67 | 2.52 | 2.49 | 1.58 | 1.30 |
| EPS, diluted | 12.86 | 32.60 | 8.76 | 9.05 | 5.05 | 3.50 | 2.38 | 2.36 | 1.50 | 1.26 |
| Shares, diluted (wtd. avg.) | $48.3M | $48.8M | $48.8M | $48.4M | $47.9M | $47.0M | $45.8M | $44.6M | $43.6M | $41.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $787.4M | $691.8M | $527.8M | $288.7M | $189.4M | $335.1M | $173.1M | $172.8M | $82.9M | $112.8M |
| Short-term investments | $358.7M | $171.1M | $580.6M | $449.3M | $535.8M | $260.2M | $282.4M | $204.6M | $216.3M | $155.5M |
| Receivables | $194.8M | $172.5M | $179.9M | $182.7M | $104.8M | $66.8M | $52.7M | $55.2M | $38.0M | $34.2M |
| Inventory | $490.6M | $419.6M | $383.7M | $447.3M | $259.4M | $157.1M | $127.5M | $136.4M | $99.3M | $71.5M |
| Total current assets | $1.92B | $1.57B | $1.82B | $1.41B | $1.12B | $842.0M | $655.2M | $580.8M | $449.2M | $383.0M |
| Property, plant and equipment | $563.9M | $494.9M | $369.0M | $357.2M | $363.0M | $281.5M | $228.3M | $150.0M | $144.6M | $85.2M |
| Goodwill | $25.9M | $25.9M | $6.6M | $6.6M | $6.6M | $6.6M | $6.6M | $6.6M | $6.6M | $6.6M |
| Other intangibles | $9.4M | $9.9M | $0 | — | — | — | — | $111.0K | $951.0K | $3.0M |
| Total assets | $3.87B | $3.52B | $2.43B | $2.06B | $1.59B | $1.21B | $956.4M | $793.4M | $652.6M | $511.1M |
| Accounts payable | $129.9M | $102.5M | $63.0M | $61.5M | $83.0M | $38.2M | $27.3M | $22.7M | $22.8M | $17.4M |
| Total current liabilities | $383.5M | $294.6M | $235.0M | $263.4M | $226.9M | $147.0M | $98.2M | $80.4M | $65.9M | $52.9M |
| Total liabilities | $662.3M | $564.7M | $384.4M | $390.3M | $341.8M | $241.9M | $182.9M | $153.3M | $130.6M | $80.0M |
| Retained earnings | $2.41B | $2.29B | $947.1M | $716.4M | $424.9M | $298.7M | $229.4M | $194.7M | $143.6M | $119.4M |
| Total equity | $3.21B | $2.95B | $2.05B | $1.67B | $1.24B | $966.6M | $773.5M | $640.1M | $522.0M | $431.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $838.2M | $788.4M | $638.2M | $246.7M | $320.0M | $267.8M | $216.3M | $141.5M | $133.8M | $107.8M |
| Depreciation and amortisation | $52.5M | $36.4M | $40.2M | $37.1M | $28.7M | $19.2M | $14.9M | $12.3M | $16.1M | $14.7M |
| Stock-based compensation | $227.5M | $205.6M | $149.7M | $161.0M | $123.5M | $85.6M | $78.7M | $60.6M | $52.6M | $45.0M |
| Capital expenditure | $172.0M | $146.1M | $57.6M | $58.8M | $94.4M | $55.6M | $95.8M | $22.5M | $65.8M | $37.1M |
| Investing cash flow | -$157.3M | $223.0M | -$178.7M | -$12.5M | -$378.9M | -$39.2M | -$167.1M | -$14.7M | -$134.1M | -$55.7M |
| Financing cash flow | -$285.9M | -$872.2M | -$183.7M | -$128.8M | -$90.2M | -$71.6M | -$48.0M | -$34.6M | -$31.3M | -$28.1M |
| Dividends paid | $284.8M | $240.6M | $185.8M | $138.0M | $109.4M | $88.8M | $67.3M | $47.5M | $33.9M | — |
| Buybacks | $6.6M | $636.2M | $3.7M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-014084.
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