FirmAtlas
Company handbook · MPWR · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
MPWR · CIK 1280452 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
MONOLITHIC POWER SYSTEMS INC
$1,210.86
−38.34 (−3.07%)
Close, Oct 16, 2026 · 52-week $833–1,714
Last fiscal year
MONOLITHIC POWER SYSTEMS INC reported revenue of $2.8B for the year ended Dec 31, 2025 (FY25), up 26.4% from FY24. Net income was $621M, operating cash flow $838M and free cash flow $666M. Source: 10-K filed Feb 27, 2026.
Market cap
$59.0B
P/E
73.5
EV/EBITDA
73.9x
P/B
15.1
Div yield
0.62%
ROIC
27.7%
Revenue 1Y
26.4%/yr
EPS 1Y
−60.6%/yr
Shares 1Y
+2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMichael Hsing
HQWest Palm Beach, FL
AuditorErnst & Young LLP
Employees4,501
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
31.7%
20.3%
35.8%
17.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.5B deployed
Capex
$318M
20.9%
Acquisitions
$33M
2.2%
Dividends
$525M
34.6%
Buybacks
$643M
42.3%
Operating cash flow over the period: $1.6B. Total debt changed by $0M. R&D of $707M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
2,207
2,790+26.4%
3,273
YoY
+26.4%
Gross profit
1,221
1,540+26.1%
1,807
Gross margin
55.3%
55.2%−0.1 pp
—
Operating income
539
729+35.1%
940
Operating margin
24.4%
26.1%+1.7 pp
—
EBITDA
576
781+35.7%
—
EBITDA margin
26.1%
28.0%+1.9 pp
—
Net income
1,592
621−61.0%
802
YoY
−61.0%
Net margin
72.1%
22.3%−49.9 pp
—
EPS (diluted, $)
32.60
12.86−60.6%
16.40
YoY
−60.6%
Balance sheet
Total assets
3,705
4,194+13.2%
4,686
Cash & short-term investments
1,081
1,257+16.2%
—
Accounts receivable
215
256+19.0%
—
Inventory
455
565+24.2%
—
Net PP&E
527
628+19.0%
—
Other assets
1,427
1,489+4.4%
—
Total liabilities
632
663+4.9%
791
Accounts payable
127
138+8.6%
—
Other liabilities
504
524+4.0%
—
Shareholders’ equity
3,074
3,531+14.9%
3,895
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
788
838+6.3%
822
Net income
1,592
621−61.0%
—
Depreciation & amortization
36
53+44.1%
—
Stock-based compensation
206
227+10.6%
—
Working capital & other
(1,046)
(63)n/m
—
Cash from investing
223
(157)−170.5%
—
Capex
(146)
(172)n/m
—
Acquisitions
(33)
0n/m
—
Investments bought
(1,083)
(397)n/m
—
Investments sold / matured
1,508
420−72.2%
—
Other investing
(23)
(7)n/m
—
Cash from financing
(872)
(286)n/m
—
Dividends
(241)
(285)n/m
—
Buybacks
(636)
(7)n/m
—
Other financing
5
6+20.4%
—
Net change in cash
131
408+211.7%
—
Free cash flow (OCF − capex)
642
666+3.7%
586
Where the cash went
Operating cash flow
788
838+6.3%
822
Reinvested in the business
179
172−4.1%
—
% of operating cash flow
22.8%
20.5%
Capex
146
172+17.7%
237
Acquisitions
33
0−100.0%
—
R&D (memo, already in costs)
325
382+17.7%
—
Free cash flow
642
666+3.7%
586
YoY
+3.7%
Returned to shareholders
877
291−66.8%
—
% of free cash flow
136.5%
43.7%
Dividends
241
285+18.4%
—
Buybacks
636
7−99.0%
—
FCF conversion (FCF ÷ net income)
40.3%
107.2%+66.8 pp
—
Owner earnings
—
362
—
Owner earnings margin
—
13.0%
—
Buyback yield
2.2%
0.0%−2.2 pp
—
Returns & ratios
ROIC (all capital)
27.1%
27.7%+0.6 pp
—
ROIC (operating)
50.4%
49.7%−0.7 pp
—
Cash conversion cycle (days)
157
158+1 d
—
ROE
51.8%
17.6%−34.2 pp
—
ROA
43.0%
14.8%−28.2 pp
—
ROCE
16.1%
19.1%+2.9 pp
—
NOPAT
539
591+9.6%
—
Invested capital (operating)
1,070
1,310+22.4%
—
Invested capital (all)
1,992
2,275+14.2%
—
Reinvestment rate
—
40.6%
—
Debtor days
36
33−2 d
—
Inventory days
168
165−4 d
—
Days payable
47
40−7 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
737
751
804
981
vs year-ago quarter
Gross profit
406
414
445
541
Gross margin
55.1%
55.2%
55.3%
55.2%
Operating income
195
200
241
304
Net income
178
173
193
257
vs year-ago quarter
Net margin
24.2%
23.1%
24.0%
26.2%
EPS (diluted, $)
3.71
3.55
3.92
5.22
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
4,206
4,194
4,449
4,686
Cash & equivalents
1,081
1,257
1,063
1,006
Shareholders’ equity
3,568
3,531
3,677
3,895
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
239
105
250
228
Capex
43
41
71
82
Free cash flow
197
64
179
145
vs year-ago quarter