Monolithic Power Systems Inc. (MPWR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$5.88	$6.5	+10.5%	—	$980.6M	—
Q1 26	$4.9	$5.1	+4.1%	—	$804.2M	—
Q4 25	$4.74	$4.79	+1.1%	—	$751.2M	—
Q3 25	$4.64	$4.73	+1.9%	—	$737.2M	—
Q2 25	$4.12	$4.21	+2.2%	—	$664.6M	—
Q1 25	$4	$4.04	+1.0%	—	$637.6M	—
Q4 24	$3.98	$4.09	+2.8%	—	$621.7M	—
Q3 24	$3.97	$4.06	+2.3%	—	$620.1M	—
Q2 24	$3.07	$3.17	+3.3%	—	$507.4M	—
Q1 24	$2.64	$2.81	+6.4%	—	$457.9M	—
Q4 23	$2.85	$2.88	+1.1%	—	$454M	—
Q3 23	$3.07	$3.08	+0.3%	—	$474.9M	—
Q2 23	$2.8	$2.82	+0.7%	—	$441.1M	—
Q1 23	$2.96	$3	+1.4%	—	$451.1M	—
Q4 22	$3.15	$3.17	+0.6%	—	$460M	—
Q3 22	$3.5	$3.53	+0.9%	—	$495.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$12.8	—	—	$2.8B	—
FY24	—	$36.8	—	—	$2.2B	—
FY23	—	$8.98	—	—	$1.8B	—
FY22	—	$9.37	—	—	$1.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$388.7M	$470.9M	$582.4M	$627.9M	$844.5M	$1.2B	$1.8B	$1.8B	$2.2B	$2.8B
YoY change	+16.7%	+21.2%	+23.7%	+7.82%	+34.5%	+43%	+48.5%	+1.5%	+21.2%	+26.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	388.7M	470.9M	582.4M	627.9M	844.5M	1.2B	1.8B	1.8B	2.2B	2.8B
Cost of revenue	177.8M	212.6M	259.7M	281.6M	378.5M	522.3M	745.6M	800M	986.2M	1.3B
Gross profit	210.9M	258.3M	322.7M	346.3M	466M	685.5M	1B	1B	1.2B	1.5B
Gross margin	54.3%	54.8%	55.4%	55.2%	55.2%	56.8%	58.4%	56.1%	55.3%	55.2%
Research & development	73.6M	82.4M	93.5M	107.8M	137.6M	190.6M	240.2M	263.6M	324.7M	382.3M
Selling, general & administrative	83M	97.3M	113.8M	133.5M	161.7M	232.4M	281.6M	275.7M	356.8M	428.8M
Operating expenses	156.7M	179.6M	207.3M	241.3M	299.3M	423M	521.8M	539.4M	681.5M	811.1M
Operating income	54.2M	78.7M	115.4M	105M	166.7M	262.4M	526.8M	481.7M	539.4M	728.6M
Operating margin	13.9%	16.7%	19.8%	16.7%	19.7%	21.7%	29.4%	26.5%	24.4%	26.1%
Non-operating income, net	558K	-1.1M	-3.2M	789K	-6.7M	-1.8M	-16.2M	742K	6.5M	8.4M
Pretax income	57.3M	82.9M	118.5M	113.1M	169.3M	272.2M	524.9M	505.8M	572.9M	766.2M
Income tax	4.5M	17.7M	13.2M	4.3M	5M	30.2M	87.3M	78.5M	-1.2B	144.7M
Net income	52.7M	65.2M	105.3M	108.8M	164.4M	242M	437.7M	427.4M	1.8B	621.5M
Net margin	13.6%	13.8%	18.1%	17.3%	19.5%	20%	24.4%	23.5%	81%	22.3%
EBITDA	67.3M	94M	129.7M	118.9M	190.4M	286.6M	570.5M	512M	566.4M	771.1M
EPS	1.3	1.58	2.49	2.52	3.67	5.28	9.37	8.98	36.8	12.8
Diluted EPS	1.26	1.5	2.36	2.38	3.5	5.05	9.05	8.76	36.6	12.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	474.9M	454M	457.9M	507.4M	620.1M	621.7M	637.6M	664.6M	737.2M	751.2M	804.2M	980.6M
Cost of revenue	211.3M	202.9M	205.4M	226.9M	276.7M	277.3M	284.3M	298.6M	330.9M	336.9M	359.1M	439.6M
Gross profit	263.5M	251.1M	252.4M	280.6M	343.4M	344.4M	353.2M	366M	406.2M	414.3M	445.1M	541.1M
Gross margin	55.5%	55.3%	55.1%	55.3%	55.4%	55.4%	55.4%	55.1%	55.1%	55.2%	55.3%	55.2%
Research & development	64.8M	71.5M	76M	77.9M	85.1M	85.8M	92.2M	96.3M	98.2M	95.6M	100.6M	118.6M
Selling, general & administrative	63.2M	70.1M	81M	86.1M	94.4M	95.3M	92.2M	105M	112.9M	118.7M	103.3M	118.6M
Operating expenses	128M	141.6M	157M	164M	179.4M	181.1M	184.5M	201.3M	211M	214.3M	203.9M	237.2M
Operating income	135.6M	109.6M	95.5M	116.5M	164M	163.3M	168.8M	164.8M	195.2M	199.9M	241.2M	303.9M
Operating margin	28.5%	24.1%	20.9%	23%	26.5%	26.3%	26.5%	24.8%	26.5%	26.6%	30%	31%
Non-operating income, net	-3.8M	3.5M	2.6M	882K	3.5M	-520K	-566K	6.2M	2.1M	764K	-1.9M	9.5M
Pretax income	137.9M	119.5M	105M	124M	174.3M	169.5M	173.9M	177M	205.6M	209.8M	247.2M	321.7M
Income tax	16.7M	22.6M	12.5M	23.7M	29.9M	-1.3B	40.1M	43.3M	27.3M	34.1M	54M	64.4M
Net income	121.2M	96.9M	92.5M	100.4M	144.4M	1.4B	133.8M	133.7M	178.3M	175.7M	193.2M	257.3M
Net margin	25.5%	21.3%	20.2%	19.8%	23.3%	233.1%	21%	20.1%	24.2%	23.4%	24%	26.2%
EBITDA	147.2M	114.7M	99.7M	125.2M	169.6M	173.1M	181.6M	172.3M	205.1M	212.2M	257.8M	312M
EPS	2.54	2.02	1.9	2.06	2.96	30	2.8	2.79	3.72	3.51	3.94	5.24
Diluted EPS	2.48	1.98	1.89	2.05	2.95	29.9	2.79	2.78	3.71	3.46	3.92	5.22

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.3B	4.6B	4.9B	7.7B	16.4B	22.6B	16.5B	30B	28.8B	43.5B	66.4B
Enterprise value	3B	4.3B	4.5B	7.2B	15.8B	21.9B	15.8B	28.9B	27.9B	42.3B	65.8B
Shares outstanding	40.4M	41.4M	42.2M	43.2M	44.8M	45.9M	46.7M	47.6M	48.6M	48M	48M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	62.8	71.3	46.7	70.6	99.9	93.5	37.8	70.3	16.1	70.1	81.9
P/S	8.52	9.87	8.43	12.2	19.4	18.7	9.21	16.5	13	15.6	20.2
P/B	7.68	8.9	7.67	9.93	17	18.2	9.9	14.6	9.14	12.3	16.9
EV/EBITDA	45.2	46.2	35	60.8	83.1	76.4	27.7	56.5	49.3	54.9	65.8
EV/Sales	7.83	9.23	7.79	11.5	18.7	18.1	8.8	15.9	12.6	15.2	20.1
Earnings yield	1.59%	1.4%	2.14%	1.42%	1%	1.07%	2.65%	1.42%	6.21%	1.43%	1.22%
FCF yield	2.13%	1.46%	2.42%	1.56%	1.29%	0.99%	1.14%	1.93%	2.23%	1.52%	0.67%
PEG	—	—	—	—	—	—	—	—	—	—	0.93

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	54.3%	54.8%	55.4%	55.2%	55.2%	56.8%	58.4%	56.1%	55.3%	55.2%	55.2%
Operating margin	13.9%	16.7%	19.8%	16.7%	19.7%	21.7%	29.4%	26.5%	24.4%	26.1%	31%
Net margin	13.6%	13.8%	18.1%	17.3%	19.5%	20%	24.4%	23.5%	81%	22.3%	24.5%
ROE	12.2%	12.5%	16.4%	14.1%	17%	19.5%	26.2%	20.8%	56.8%	17.6%	22%
ROA	10.3%	9.99%	13.3%	11.4%	13.6%	15.3%	21.3%	17.6%	49.4%	14.8%	13.6%
ROIC	30.6%	27.7%	39%	31.5%	43.2%	45%	47.1%	43%	23.5%	25.8%	30.7%
Return on tangible assets	10.7%	10.2%	13.5%	11.5%	13.8%	15.4%	21.4%	17.7%	50.4%	15.1%	17.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	7.24	6.81	7.22	6.67	5.73	4.96	5.36	7.74	5.31	5.91	4.97
Quick ratio	5.89	5.31	5.53	5.37	4.66	3.81	3.66	6.11	3.89	4.38	3.62
Debt / equity	—	—	0	0	0	—	0	0	0	0.01	0
Debt / assets	—	—	0	0	0	—	0	0	0	0	0
Net debt / EBITDA	—	—	-2.91	-3.81	-3.11	—	-1.29	-2.15	-1.5	-1.6	-1.41
Effective tax rate	7.94%	21.4%	11.2%	3.78%	2.93%	11.1%	16.6%	15.5%	0%	18.9%	18.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.61	11.4	13.8	14.5	18.8	26.3	38.4	38.2	45.4	58.1	67.3
EPS (basic)	1.3	1.58	2.49	2.52	3.67	5.28	9.37	8.98	36.8	12.8	12.8
EPS (diluted)	1.26	1.5	2.36	2.38	3.5	5.05	9.05	8.76	36.6	12.8	16.4
Book value per share	10.7	12.6	15.2	17.9	21.6	27.1	35.7	43.1	64.7	73.5	79.3
FCF per share	1.75	1.65	2.81	2.77	4.73	4.9	4.02	12.2	13.2	13.8	11.8
Cash per share	6.63	7.23	8.93	10.6	13.3	15.8	15.8	23.3	17.8	26.2	28.8
Capex per share	0.92	1.59	0.53	2	1.24	2.06	1.26	1.21	3.01	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	9.55%	14%	3.87%	13.8%	6.59%	7.82%	3.28%	3.16%	6.62%	—	—
Capex / operating cash flow	37.8%	69.8%	17.9%	40.6%	22.4%	33.1%	29.9%	9.01%	18.8%	—	—
Payout ratio	62.8%	52%	45.1%	61.8%	54%	45.2%	31.5%	43.5%	13.5%	45.8%	43.4%
Dividend yield	1%	0.73%	0.97%	0.88%	0.54%	0.48%	0.83%	0.62%	0.84%	0.65%	0.59%

Yield

0.59%

trailing twelve months

Frequency

Quarterly

Last dividend

$2.00

ex-dividend Sep 30, 2026

Payout ratio

43%

of earnings

Dividend growth

8 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 30, 2026upcoming	$2.00
Jun 30, 2026	$2.00
Mar 31, 2026	$2.00
Dec 31, 2025	$1.56
Sep 30, 2025	$1.56

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$474.9M	$454M	$457.9M	$507.4M	$620.1M	$621.7M	$637.6M	$664.6M	$737.2M	$751.2M	$804.2M	$980.6M
YoY change	-4.15%	-1.3%	+1.51%	+15%	+30.6%	+36.9%	+39.2%	+31%	+18.9%	+20.8%	+26.1%	+47.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	268.2M	299.1M	377.3M	455.4M	595.1M	725.1M	737.9M	1.1B	862.9M	1.3B
Receivables	34.2M	38M	55.2M	52.7M	66.8M	104.8M	182.7M	179.9M	172.5M	255.6M
Inventory	71.5M	99.3M	136.4M	127.5M	157.1M	259.4M	447.3M	383.7M	419.6M	564.6M
Total current assets	383M	449.2M	580.8M	655.2M	842M	1.1B	1.4B	1.8B	1.6B	2.2B
Property, plant & equipment	36.2M	43.6M	49.9M	100.1M	138.7M	160.1M	162M	163.8M	304.7M	387M
Goodwill & intangibles	19.1M	15M	13.3M	13.1M	13.1M	13.1M	13.1M	13.1M	71.8M	69.5M
Total assets	511.1M	652.6M	793.4M	956.4M	1.2B	1.6B	2.1B	2.4B	3.6B	4.2B
Accounts payable	17.4M	22.8M	22.7M	27.3M	38.2M	83M	61.5M	63M	102.5M	138.3M
Short-term debt	—	—	—	1.3M	1.4M	—	—	—	—	—
Total current liabilities	52.9M	65.9M	80.4M	98.2M	147M	226.9M	263.4M	235M	294.6M	369.4M
Long-term debt	—	—	0	1.1M	1.7M	—	1.7M	5.6M	13M	20M
Total liabilities	80M	130.6M	153.3M	182.9M	241.9M	341.8M	390.3M	384.4M	471.3M	662.7M
Shareholders' equity	431.1M	522M	640.1M	773.5M	966.6M	1.2B	1.7B	2B	3.1B	3.5B
Total debt	—	—	0	2.4M	3.1M	—	1.7M	5.6M	13M	20M
Net debt	—	—	-172.7M	-170.6M	-331.8M	—	-286.9M	-522.3M	-678.8M	-1.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1B	1.1B	1.3B	1.3B	1.5B	862.9M	1B	1.1B	1.3B	1.3B	1.4B	1.4B
Receivables	185.8M	179.9M	194.4M	157.9M	164.7M	172.5M	214.9M	194.8M	241.6M	255.6M	302.1M	343.6M
Inventory	397.3M	383.7M	396M	426.8M	424.9M	419.6M	454.8M	490.6M	505.7M	564.6M	619.2M	675.8M
Total current assets	1.7B	1.8B	2B	2B	2.2B	1.6B	1.8B	1.9B	2.1B	2.2B	2.3B	2.5B
Property, plant & equipment	—	163.8M	—	434.2M	471.3M	304.7M	563.2M	601.6M	597.3M	387M	693.9M	798.4M
Goodwill & intangibles	13.1M	13.1M	73.7M	73.2M	72.6M	71.8M	71.2M	70.6M	70M	69.5M	68.9M	68.3M
Total assets	2.3B	2.4B	2.6B	2.6B	2.9B	3.6B	3.8B	4B	4.2B	4.2B	4.4B	4.7B
Accounts payable	64.7M	63M	103.5M	99.9M	115.9M	102.5M	127.3M	129.9M	141.7M	138.3M	174.5M	182.2M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	250M	235M	311.9M	295.2M	336.6M	294.6M	363.4M	383.5M	442.8M	369.4M	487M	497.9M
Long-term debt	—	5.6M	5.9M	13M	13.5M	13M	14.5M	15.9M	15.1M	20M	20M	18.9M
Total liabilities	383.2M	384.4M	465.1M	452.3M	503.1M	471.3M	538.8M	570.1M	638.4M	662.7M	771.5M	790.8M
Shareholders' equity	1.9B	2B	2.1B	2.2B	2.4B	3.1B	3.3B	3.4B	3.6B	3.5B	3.7B	3.9B
Total debt	—	5.6M	5.9M	13M	13.5M	13M	14.5M	15.9M	15.1M	20M	20M	18.9M
Net debt	—	-522.3M	-482.4M	-537.4M	-686.9M	-678.8M	-622.9M	-771.4M	-1.1B	-1.1B	-1B	-986.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	52.7M	65.2M	105.3M	108.8M	164.4M	242M	437.7M	427.4M	1.8B	621.5M
Depreciation & amortization	14.7M	16.1M	12.3M	14.9M	19.2M	28.7M	37.1M	40.2M	36.4M	52.5M
Stock-based compensation	45M	52.6M	60.6M	78.7M	85.6M	123.5M	161M	149.7M	205.6M	227.5M
Change in working capital	-14.1M	-24.5M	-51.5M	11.7M	-17.7M	-106.1M	-426M	15.8M	49.8M	-126.8M
Operating cash flow	98.2M	94.2M	125.8M	213.3M	248.7M	285.4M	196.7M	638.9M	775.7M	838.2M
Capital expenditure	-37.1M	-65.8M	-22.5M	-86.5M	-55.6M	-94.4M	-58.8M	-57.6M	-146.1M	—
Investing cash flow	-55.7M	-134.1M	-14.7M	-166.1M	-39.2M	-378.1M	-12.5M	-178.7M	223M	17.7M
Dividends paid	-33.1M	-33.9M	-47.5M	-67.3M	-88.8M	-109.4M	-138M	-185.8M	-240.6M	-284.8M
Share repurchases	0	0	—	—	—	0	0	-3.7M	-636.2M	-7.7M
Financing cash flow	-31.9M	-34.2M	-48.2M	-68M	-94.1M	-112.2M	-140M	-192.4M	-881M	-295.1M
Net change in cash	10.6M	-74.1M	62.9M	-20.8M	115.4M	-204.9M	44.1M	267.7M	117.8M	560.8M
Free cash flow	70.7M	68.1M	118.9M	119.5M	212.2M	224.8M	187.8M	580.6M	642.3M	663.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	121.2M	96.9M	92.5M	100.4M	144.4M	1.4B	133.8M	132.5M	175.7M	175.7M	193.2M	257.3M
Depreciation & amortization	10M	10.2M	8.3M	8.7M	9.4M	10M	11.4M	13.1M	13.7M	14.2M	15.1M	17.1M
Stock-based compensation	33.6M	41.1M	45.9M	52.3M	51.4M	56M	52.8M	60.1M	60.7M	53.9M	41.1M	53.2M
Change in working capital	-10.5M	5.7M	98.9M	-19.7M	5.7M	-26.8M	21.8M	5M	-74.8M	-78.8M	-53.8M	-94.8M
Operating cash flow	166.1M	148.9M	245.8M	135.8M	210.2M	192.3M	228.3M	237.6M	239.3M	104.9M	250.3M	227.9M
Capital expenditure	-27.1M	-13.8M	-16M	-31.5M	-33.8M	-64.8M	-40.3M	—	—	—	—	—
Investing cash flow	-213M	34M	-266M	-3.4M	-44.9M	519.2M	-257.5M	34.3M	172.6M	29.9M	-147.9M	-95.7M
Dividends paid	-49.4M	-50.6M	-49.6M	-68.1M	-61.2M	-61.9M	-60M	-75.1M	-74.9M	-74.8M	-78.4M	-101.1M
Share repurchases	0	—	-4.1M	-4.5M	-5.5M	-622.1M	0	-3.7M	-2M	-2M	—	—
Financing cash flow	-50.9M	-50.7M	-54.6M	-73.6M	-67.3M	-685.4M	-61.3M	-79.4M	-77.1M	-77.3M	-81.1M	-99.3M
Net change in cash	-97.8M	132.2M	-74.8M	58.8M	97.9M	26.1M	-90.5M	192.6M	334.8M	57.5M	21.3M	32.9M
Free cash flow	148.8M	139.5M	232.1M	109.5M	216.1M	102.9M	216M	187.5M	194.2M	63.5M	179.4M	145.5M

Monolithic Power Systems Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement