Technology · Semiconductors
Price
$1,313.32
Market Cap
$64.5B
Employees
4,017
Beta
1.69
Avg Volume
698,760
CEO
Michael R. Hsing
Business Description
Monolithic Power Systems, Inc. specializes in the creation, promotion, and sale of advanced semiconductor components for power management. Their innovative solutions cater to a broad spectrum of industries, including information technology, data storage, automotive, industrial applications, telecommunications, and consumer electronics. A core offering consists of direct current (DC) to DC integrated circuits (ICs), which are vital for regulating and transforming electrical voltages in diverse systems such as portable gadgets, wireless local area network access points, personal computers, displays, car entertainment systems, and medical devices. Additionally, they provide integrated circuits specifically designed for lighting control, essential for illuminating liquid crystal display (LCD) panels in laptops, monitors, vehicle navigation systems, and televisions, alongside general illumination products. The company reaches its clientele, which includes major equipment manufacturers, design firms, and electronics assembly providers, as well as other customers, through both direct sales and an extensive network of distributors and resellers across key global regions like China, Taiwan, Europe, South Korea, Southeast Asia, Japan, the United States, and beyond. Founded in 1997, the company's headquarters are situated in Kirkland, Washington.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
102.44
Stock Price: $1,313
EPS (Diluted): 12.82
EPS (Diluted): 12.82
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
12.33
Stock Price: $1,313
Total Equity: $3.53B
Shares: 48,309,000
Total Equity: $3.53B
Shares: 48,309,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
51.96
Market Cap: $64.52B
Total Debt: $4.13M
Cash: $1.10B
EBITDA: $817.24M
Total Debt: $4.13M
Cash: $1.10B
EBITDA: $817.24M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$42.5B
Market Cap: $64.52B
Total Debt: $4.13M
Cash: $1.10B
Total Debt: $4.13M
Cash: $1.10B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
55.2%
Gross Profit: $1.54B
Revenue: $2.79B
Revenue: $2.79B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
26.1%
Operating Income: $728.64M
Revenue: $2.79B
Revenue: $2.79B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
22.1%
Net Income: $615.93M
Revenue: $2.79B
Revenue: $2.79B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
17.4%
Net Income: $615.93M
Total Equity: $3.53B
Total Equity: $3.53B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
24.0%
Operating Income: $728.64M
Tax Rate: 19.6%
Equity: $3.53B
Total Debt: $4.13M
Cash: $1.10B
Tax Rate: 19.6%
Equity: $3.53B
Total Debt: $4.13M
Cash: $1.10B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
5.91
Current Assets: $2.18B
Current Liabilities: $369.37M
Current Liabilities: $369.37M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $4.13M
Long-Term Debt: $0.00
Total Debt: $4.13M
Total Equity: $3.53B
Long-Term Debt: $0.00
Total Debt: $4.13M
Total Equity: $3.53B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$57.76
Revenue: $2.79B
Shares: 48,309,000
Shares: 48,309,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$73.10
Total Equity: $3.53B
Shares: 48,309,000
Shares: 48,309,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$13.79
Operating CF: $838.20M
CapEx: -$172.01M
Shares: 48,309,000
CapEx: -$172.01M
Shares: 48,309,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.7%
Last Dividend: N/A
Stock Price: $1,313
Stock Price: $1,313
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $615.93M
Net Income: $615.93M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MPWR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 25, 2026 3:02am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.8B | $1.8B | $2.2B | $2.8B |
| Cost of Revenue | $522.3M | $745.6M | $800.0M | $986.2M | $1.3B |
| Gross Profit | $685.5M | $1.0B | $1.0B | $1.2B | $1.5B |
| Operating Expenses | $423.0M | $521.8M | $539.4M | $681.5M | $811.1M |
| Operating Income | $262.4M | $526.8M | $481.7M | $539.4M | $728.6M |
| Net Income | $242.0M | $437.7M | $427.4M | $1.8B | $615.9M |
| EBITDA | $300.9M | $562.1M | $546.0M | $609.3M | $817.2M |
| EPS | $5.28 | $9.37 | $8.98 | $36.76 | $12.82 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 25, 2026 3:02am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $189.3M | $288.6M | $527.8M | $691.8M | $1.1B |
| Total Current Assets | $1.1B | $1.4B | $1.8B | $1.6B | $2.2B |
| Total Assets | $1.6B | $2.1B | $2.4B | $3.6B | $4.2B |
| Current Liabilities | $226.9M | $263.4M | $235.0M | $294.6M | $369.4M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $341.8M | $390.3M | $384.4M | $471.3M | $662.7M |
| Total Equity | $1.2B | $1.7B | $2.0B | $3.1B | $3.5B |
| Retained Earnings | $424.9M | $716.4M | $947.1M | $2.5B | $2.6B |
Cash Flow (Annual)
Last updated: Jun 25, 2026 3:02am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $320.0M | $246.7M | $638.2M | $788.4M | $838.2M |
| Capital Expenditure | -$95.2M | -$58.8M | -$57.6M | -$146.1M | -$172.0M |
| Free Cash Flow | $224.8M | $187.8M | $580.6M | $642.3M | $666.2M |
| Acquisitions (net) | $-768,000 | $0 | $0 | -$33.3M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $4.7M | $5.9M | -$3.7M | -$636.2M | -$7.7M |
| Net Change in Cash | -$145.7M | $99.3M | $272.5M | $130.8M | $407.6M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 1:04am (7h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$4.5B $4.3B – $4.8B
|
$5.2B $5.2B – $5.2B
|
$6.0B $5.8B – $6.3B
|
$6.8B $6.5B – $7.2B
|
| EBITDA |
$1.3B $1.2B – $1.4B
|
$1.5B $1.5B – $1.5B
|
$1.7B $1.7B – $1.8B
|
$1.9B $1.9B – $2.0B
|
| Net Income |
$1.5B $1.4B – $1.6B
|
$1.7B $1.5B – $1.9B
|
$2.0B $1.9B – $2.1B
|
$2.3B $2.2B – $2.4B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 25, 2026 3:02am (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +48.5% | +1.5% | +21.2% | +26.4% |
| Gross Profit Growth | +53.0% | -2.6% | +19.6% | +26.1% |
| Operating Income Growth | +100.7% | -8.6% | +12.0% | +35.1% |
| Net Income Growth | +80.8% | -2.4% | +318.1% | -65.5% |
| EBITDA Growth | +86.8% | -2.9% | +11.6% | +34.1% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:17pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-30 | $2.00 | 2026-06-12 | 2026-06-30 | 2026-07-15 |
| 2026-03-31 | $2.00 | 2026-02-05 | 2026-03-31 | 2026-04-15 |
| 2025-12-31 | $1.56 | 2025-12-12 | 2025-12-31 | 2026-01-15 |
| 2025-09-30 | $1.56 | 2025-09-11 | 2025-09-30 | 2025-10-15 |
| 2025-06-30 | $1.56 | 2025-06-13 | 2025-06-30 | 2025-07-15 |
| 2025-03-31 | $1.56 | 2025-02-06 | 2025-03-31 | 2025-04-15 |
| 2024-12-31 | $1.25 | 2024-12-13 | 2024-12-31 | 2025-01-15 |
| 2024-09-30 | $1.25 | 2024-09-13 | 2024-09-30 | 2024-10-15 |
| 2024-06-28 | $1.25 | 2024-06-13 | 2024-06-28 | 2024-07-15 |
| 2024-03-27 | $1.25 | 2024-02-07 | 2024-03-29 | 2024-04-15 |
| 2023-12-28 | $1.00 | 2023-12-15 | 2023-12-29 | 2024-01-15 |
| 2023-09-28 | $1.00 | 2023-09-15 | 2023-09-29 | 2023-10-13 |
| 2023-06-29 | $1.00 | 2023-06-15 | 2023-06-30 | 2023-07-14 |
| 2023-03-30 | $1.00 | 2023-02-08 | 2023-03-31 | 2023-04-14 |
| 2022-12-29 | $0.75 | 2022-12-15 | 2022-12-30 | 2023-01-13 |
| 2022-09-29 | $0.75 | 2022-09-15 | 2022-09-30 | 2022-10-14 |
| 2022-06-29 | $0.75 | 2022-06-16 | 2022-06-30 | 2022-07-15 |
| 2022-03-30 | $0.75 | 2022-02-10 | 2022-03-31 | 2022-04-15 |
| 2021-12-30 | $0.60 | 2021-12-15 | 2021-12-31 | 2022-01-14 |
| 2021-09-29 | $0.60 | 2021-09-15 | 2021-09-30 | 2021-10-15 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MPWR — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30