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Not Investment Advice

MPWR

NASDAQ · USD
Monolithic Power Systems, Inc.
Technology · Semiconductors
CEO Michael R. Hsing Employees 4,501 R&D / revenue 13.7%
Last price
$1,210.86−3.07%last session
Market cap
$59.5B
P/E (TTM)
73.8x
From 52w high
−29.4%
From 52w low
+45.3%
1-year return
+17.9%
RSI 14 · vs SMA200
37.7 · −7.1%
IS score
62.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

MPWR   SPY   XLK (sector ETF) · weekly closes
80100120140160Jan 26Apr 26Jul 26Oct 26XLK 129MPWR 118SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
91
Profitability
43
Growth
35
Value
63
Momentum
100
Risk (safety)
86
Quality
96
Balance sheet
82
Earnings quality

Flags

Strengths
✓ Net cash
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Cost AdvantagePiotroski 6 / 9Altman Z 54.4Beta 1.662 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
79 open-market sales, $233.0M
Form 144 notices (12m): 67, $1.3B proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+128
222 new holders, 81 closed
1,253 filers hold 97.8% · 420 added, 465 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+246
1,308 funds adding shares
1,062 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
43.4%
20-day avg 53.8%, 50-day avg 49.6%
Latest 10.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$2.8B
Revenue growth YoY+26.4%
Gross margin55.2%
Operating income$728.6M
Operating margin26.1%
Net income$615.9M
Net margin22.1%
EPS (diluted)$12.75
Cash flow
Operating cash flow$838.2M
Capital expenditure$172.0M
Free cash flow$666.2M
FCF conversion (FCF / OCF)79.5%
Stock-based compensation$0
FCF less SBC$666.2M
Buybacks$7.7M
Dividends$284.8M
Balance sheet & returns
Cash & short-term investments$1.3B
Total debt$4.1M
Net cash$1.3B
Shareholders' equity$3.5B
Goodwill & intangibles$34.7M
Debt / equity0.00
ROE (TTM)21.8%
ROIC (TTM)18.2%
Operating margin by fiscal year
21.7%FY202129.4%FY202226.5%FY202324.4%FY202426.1%FY2025
Revenue $1.2B (FY2021) to $2.8B (FY2025), a 23.3% CAGR.

Valuation

P/E (TTM)73.8x
EV / EBITDA56.0x
Price / sales18.18x
Price / FCF101.6x
FCF yield0.98%
Buyback yield0.01%
SBC / revenue-0.8%
Price / book15.27x
Forward P/E FY202644.0x
Forward P/E FY202733.4x
Forward P/E FY202827.9x
Forward multiples divide today's price by Street EPS estimates. Street mean target $1,953.25 across 4 analysts last quarter is theirs, not ours.

MPWR vs industry median

196 companies in Semiconductors
Gross margin 55.2% 45.0% Operating margin 28.7% 5.8% Net margin 24.4% 5.7% ROIC 18.2% 6.2%
MPWR (TTM)Industry median Asset turnover 0.70 vs industry 0.52 · financial leverage 1.20

Earnings delivery

Next report 2026-10-29 · consensus EPS $7.74
100%
beat rate, 12 of 12 quarters
+2.1%
median EPS surprise
12
longest beat streak
+0+1+6+3+2+2+1+2+2+1+4+11
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
MPWR Monolithic Power Systems, In $59.5B73.8x21.8%24.4%+26.4% +17.9%
NXPI NXP Semiconductors N.V. $57.8B19.5x28.4%21.9%+8.8% +5.9%
TEL TE Connectivity plc $61.6B20.7x23.5%14.5%+15.5% −4.9%
TER Teradyne, Inc. $50.8B44.3x36.7%28.2%+57.9% +133.8%
ALAB Astera Labs, Inc. Common Sto $49.6B131.7x25.8%39.0%+98.5% +74.8%
STM STMicroelectronics N.V. $40.5B87.9x2.6%6.4%+10.3% —
MCHP Microchip Technology Incorpo $40.1B102.3x6.8%15.5%+20.9% —
CRDO Credo Technology Group Holdi $31.9B57.5x30.7%27.0%+165.1% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-10Other Events; Exhibits
2026-07-30Earnings Release; Exhibits
2026-06-12Shareholder Vote; Other Events; Exhibits
2026-02-27Non-Reliance on Previously Issued Financial Statements
2026-02-05Results of Operations and Financial Condition; Departure/Election of Directors; Appointment of Officers; Other Events; Financial Statements and Exhibits
2025-12-12Other Events; Financial Statements and Exhibits

Context

Shares outstanding49,143,000
Free float96.4%
Institutional ownership97.8%
Beta1.66
Dividend yield0.62%
Last dividend$2.00 on 2026-09-30
50 / 200-day average$1,310.45 / $1,302.40
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where MPWR sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureMPWRIndustry medianIndustry percentileSector median
P/E (TTM) 74.5x 45.9x
65th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) 3.64 2.30
72nd		 1.36
Price / sales 18.2x 8.1x
84th		 3.9x
Price / book 15.3x 5.5x
87th		 4.4x
Price / tangible book 17.6x 10.3x
69th		 8.8x
Price / free cash flow 101.6x 57.4x
76th		 20.3x
Price / operating cash flow 72.4x 38.7x
76th		 17.9x
Enterprise value $58.1B $6.8B
80th		 $5.5B
EV / sales 17.7x 8.4x
84th		 4.1x
EV / EBITDA 55.7x 28.1x
75th		 18.9x
EV / EBIT 59.0x 38.4x
74th		 26.7x
EV / free cash flow 99.2x 57.4x
78th		 21.9x
Earnings yield 1.3% 1.2%
56th		 2.0%
FCF yield 1.0% 1.4%
45th		 3.3%
Operating cash flow yield 1.4% 2.0%
41st		 4.4%
Graham number (per share) $169.91 $34.80
96th		 $28.08

Profitability (TTM)

MeasureMPWRIndustry medianIndustry percentileSector median
Gross margin 55.2% 48.5%
69th		 55.7%
EBITDA margin 31.9% 18.7%
76th		 13.7%
Operating margin 28.7% 10.1%
81st		 8.2%
EBIT margin 30.1% 12.1%
80th		 8.6%
Net margin 24.4% 9.4%
79th		 5.7%
NOPAT margin 23.3% 9.3%
79th		 7.0%
FCF margin 17.9% 12.0%
65th		 15.0%
Operating cash flow margin 25.1% 18.3%
69th		 18.4%
R&D / revenue 12.6% 17.5%
32nd		 12.9%
SG&A / revenue 13.9% 14.9%
47th		 25.6%
Stock comp / revenue —
Effective tax rate 18.8% 17.4%
58th		 21.0%

Returns on capital

MeasureMPWRIndustry medianIndustry percentileSector median
ROE (on average equity) 21.9% 6.8%
77th		 9.4%
ROA 18.5% 4.2%
85th		 4.1%
ROIC 30.8% 7.9%
84th		 9.0%
ROCE 23.5% 6.6%
87th		 8.6%
Return on tangible assets 22.7% 5.7%
87th		 5.9%
Cash ROIC (OCF / invested capital) 33.1% 14.1%
77th		 20.7%
Gross profitability (GP / assets) 38.6% 21.5%
81st		 30.0%
ROIC, 3-yr average 49.4% 6.8%
95th		 7.4%
ROIC, 5-yr average 506.4% 16.5%
98th		 7.9%
ROE, 5-yr average 28.4% 10.9%
88th		 6.9%
Incremental ROIC -157.9% 13.4%
4th		 15.3%

Growth

MeasureMPWRIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 28.7% 17.8%
68th		 14.3%
Revenue growth (QoQ) 21.9% 13.2%
76th		 6.6%
Revenue CAGR, 3 yr 21.0% 3.5%
84th		 9.6%
Revenue CAGR, 5 yr 25.8% 6.5%
85th		 11.5%
Gross profit CAGR, 3 yr 19.3% 2.6%
77th		 10.9%
Operating income CAGR, 3 yr 21.4% -2.2%
80th		 11.3%
Net income growth (TTM YoY) -57.1% 35.4%
2nd		 21.6%
Net income CAGR, 3 yr 20.8% 1.9%
79th		 9.9%
EPS growth (TTM YoY) -58.2% 37.4%
2nd		 22.3%
EPS CAGR, 3 yr 20.4% -0.5%
79th		 11.2%
EPS CAGR, 5 yr 31.2% 7.5%
80th		 12.0%
FCF growth (TTM YoY) -16.9% 31.5%
17th		 24.6%
FCF CAGR, 3 yr 24.1% 2.9%
78th		 19.3%
Operating cash flow CAGR, 3 yr 33.8% 4.1%
86th		 17.9%
Book value CAGR, 3 yr 28.0% 7.2%
86th		 6.8%
Dividend CAGR, 3 yr 8.1% 1.9%
81st		 3.1%
Sustainable growth rate 12.9% 10.7%
54th		 14.2%

Margin history & stability

MeasureMPWRIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 55.3% 47.6%
72nd		 53.2%
Operating margin, 3-yr average 26.3% 8.0%
83rd		 6.6%
Net margin, 3-yr average 39.8% 7.9%
97th		 5.2%
FCF margin, 3-yr average 26.3% 11.5%
85th		 12.7%
Revenue stability (0-1) 0.94 0.58
89th		 0.87
Earnings stability (0-1) 0.43 0.36
60th		 0.45
Margin stability (0-1) 0.98 0.93
93rd		 0.95

Liquidity (latest quarter)

MeasureMPWRIndustry medianIndustry percentileSector median
Cash & short-term investments $1.4B $667.9M
69th		 $494.1M
Net cash (− = net debt) $1.4B $201.8M
89th		 $49.8M
Working capital $2.0B $953.3M
71st		 $391.0M
Current ratio 4.98 3.45
71st		 1.92
Quick ratio 3.62 2.56
63rd		 1.67
Cash ratio (cash + ST investments / current liabilities) 2.84 1.60
64th		 0.95
Defensive interval (days) 740 days 778 days
48th		 521 days

Leverage & solvency (latest quarter)

MeasureMPWRIndustry medianIndustry percentileSector median
Total debt $0 $307.1M
0th		 $349.3M
Debt / equity 0.00 0.17
0th		 0.29
Net debt / equity −0.36 −0.19
31st		 −0.13
Debt / assets 0.0% 11.2%
0th		 16.9%
Debt / capital 0.0% 14.8%
0th		 22.3%
Debt / EBITDA 0.00 1.14
0th		 1.78
Net debt / EBITDA −1.35 −0.82
39th		 −0.18
Interest coverage (EBIT / interest) —
Cash interest coverage —
Debt payback (years of OCF) 0.0 yrs 1.2 yrs
0th		 1.6 yrs
Liabilities / assets 16.9% 30.8%
23rd		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 125
19th		 175

Efficiency

MeasureMPWRIndustry medianIndustry percentileSector median
Asset turnover 0.76 0.52
76th		 0.62
Fixed asset turnover 4.23 4.69
43rd		 9.25
Inventory turnover 2.5 2.7
39th		 3.8
Receivables turnover 12.2 6.3
95th		 6.2
Days sales outstanding 30 days 58 days
5th		 59 days
Days inventory outstanding 145 days 137 days
61st		 94 days
Days payables outstanding 39 days 50 days
28th		 46 days
Cash conversion cycle (days) 136 days 129 days
55th		 50 days
Capex / revenue 7.2% 4.5%
72nd		 2.3%
Capex / depreciation 3.97 0.94
93rd		 0.56
Operating expense ratio 24.2% 32.6%
27th		 44.3%

Cash flow & earnings quality

MeasureMPWRIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.03 1.34
35th		 1.61
FCF / net income 0.73 0.88
37th		 1.33
FCF / operating cash flow 71.2% 75.0%
42nd		 88.0%
Capex / operating cash flow 28.8% 25.0%
58th		 12.0%
Accruals ratio -0.5% -4.4%
72nd		 -6.3%
Sloan accruals ratio 8.9% 2.2%
68th		 -1.8%
Earnings quality score (0-1) 1.00 0.75
77th		 0.75

Dividends & buybacks

MeasureMPWRIndustry medianIndustry percentileSector median
Dividend yield 0.6% 0.0%
79th		 0.0%
Dividend per share (TTM) $7.56 $0.00
100th		 $0.00
Payout ratio (dividends / net income) 41.2% 5.0%
83rd		 0.0%
Dividends / FCF 56.2% 0.0%
85th		 0.0%
Dividend growth (YoY) 24.4% 3.6%
85th		 4.1%
Buyback yield 0.0% 0.1%
41st		 1.2%
Shareholder yield (dividends + buybacks) 0.6% 0.3%
56th		 1.7%
Share count change (YoY) 2.6% 1.6%
62nd		 0.1%
Buybacks, last 5 years $1.3B $67.3M
77th		 $215.3M

Scores & forensic checks

MeasureMPWRIndustry medianIndustry percentileSector median
IS score 62 59
57th		 56
IS profitability 91 43
85th		 40
IS growth 43 69
18th		 65
IS value 35 36
39th		 39
IS momentum 63 79
34th		 78
IS risk (safety) 100 100
12th		 100
IS quality 86 70
91st		 67
IS balance sheet 96 84
97th		 72
IS earnings quality 82 65
97th		 61
IS cash flow 58 58
52nd		 66
Piotroski F-score (0-9) 6 6
43rd		 6
Altman Z-score 54.4 12.3
89th		 4.0
Beneish M-score −1.88 −2.45
75th		 −2.58
Ohlson O-score −12.05 −9.33
13th		 −8.00
IS credit score 89 78
72nd		 69

Per share

MeasureMPWRIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $16.22 $1.49
97th		 $0.84
Book value per share $79.09 $17.90
97th		 $9.77
Tangible book per share $78.61 $11.01
95th		 $3.22
Revenue per share $66.46 $13.47
97th		 $13.00
FCF per share $11.89 $1.50
97th		 $1.78
Operating cash flow per share $16.70 $2.35
99th		 $2.40
Cash per share $28.71 $6.31
95th		 $4.50

Size (TTM)

MeasureMPWRIndustry medianIndustry percentileSector median
Market cap $59.5B $6.8B
81st		 $4.7B
Revenue $3.3B $1.1B
67th		 $1.2B
EBITDA $1.0B $207.9M
71st		 $185.8M
Net income $798.9M $119.3M
80th		 $84.9M
Free cash flow $585.5M $114.6M
75th		 $170.6M
Total assets $4.7B $2.3B
65th		 $2.4B
Shareholders' equity $3.9B $1.4B
68th		 $1.1B
Employees 4,501 2,286
61st		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 596$1,323.31$788,693847,668
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 2,121$1,328.54$2.8M845,547
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 1,111$1,333.34$1.5M844,436
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 2,949$1,338.66$3.9M841,487
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 5,783$1,343.76$7.8M835,704
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 6,343$1,347.15$8.5M829,361
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 10,967$1,351.43$14.8M818,394
2026-09-28Hsing Michael
Director, CEO
 Open-market sale 130$1,356.94$176,402818,264
2026-08-31Tseng Saria
EVP & General Counsel
 Gift 2,000——142,218
2026-08-31Tseng Saria
EVP & General Counsel
 Gift 2,000——2,000
2026-08-24Dean Robert W Ii
Interim CFO
 Open-market sale 32$1,297.72$41,5277,094
2026-08-24Dean Robert W Ii
Interim CFO
 Other 5——7,089

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired11,359—
GiftDisposed541,235—
GiftAcquired328,563—
Open-market saleDisposed79154,669$233.0M
OtherDisposed22,161—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 67 notices · 1,145,086 shares · $1.3B
FiledFilerShares proposedEst. proceeds
2026-09-28Michael Hsing30,000$40.3M
2026-08-24Dean Robert W Ii32$41,527
2026-08-17Dean Robert W Ii6$8,128
2026-08-11Kuo Wei Chang100$142,000
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 9 trades (2 purchases) · Senate 5 (5 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-06-05Byron DonaldsHouseSale$1,001 - $15,0002026-07-16
2026-06-05Byron DonaldsHouseSale$1,001 - $15,0002026-07-16
2026-06-05Byron DonaldsHouseSale (Partial)$1,001 - $15,0002026-07-16
2026-06-05Byron DonaldsHouseSale (Partial)$1,001 - $15,0002026-07-16
2026-02-04Markwayne MullinSenatePurchase$15,001 - $50,0002026-03-02
2026-01-05Markwayne MullinSenatePurchase$15,001 - $50,0002026-02-04
2026-01-05Markwayne MullinSenatePurchase$15,001 - $50,0002026-02-04
2026-01-05Markwayne MullinSenatePurchase$15,001 - $50,0002026-02-03
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.5,589,925$7.7B11.37%
FMR LLC5,177,258$7.2B10.54%
VANGUARD CAPITAL MANAGEMENT LLC3,126,756$4.3B6.36%
VANGUARD PORTFOLIO MANAGEMENT LLC2,504,858$3.5B5.10%
Invesco Ltd.2,343,930$3.2B4.77%
STATE STREET CORP2,282,186$3.2B4.64%
GEODE CAPITAL MANAGEMENT, LLC1,195,281$1.6B2.43%
PRICE T ROWE ASSOCIATES INC /MD/976,798$1.4B1.99%
FRANKLIN RESOURCES INC811,974$1.1B1.65%
GOLDMAN SACHS GROUP INC780,650$1.1B1.59%
NORGES BANK751,399$1.0B1.53%
VAN ECK ASSOCIATES CORP746,237$1.0B1.52%
MORGAN STANLEY687,171$949.9M1.40%
BANK OF AMERICA CORP /DE/536,236$741.3M1.09%
ROYAL BANK OF CANADA487,212$673.5M0.99%

Institutional ownership by quarter

2023-092026-0697.8%
% of shares held by 13F filers
2023-092026-061,253
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,25397.8%22242046581
2026-03-311,12593.2%183383410102
2025-12-311,06396.5%19138235589
2025-09-30981141.5%16236131880
2025-06-3091496.4%13837930380
2025-03-3186795.1%126333309109
2024-12-3186594.9%155321291160
2024-09-3088694.5%11832732464
2024-06-3084095.5%12032428680
2024-03-3181293.7%13230627454
2023-12-3174092.7%14027624447
2023-09-3065693.6%7226524065

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-15SCHEDULE 13GInvesco Ltd.5.2%2,510,980
2026-07-08SCHEDULE 13G/AAbigail P. Johnson10.5%5,175,259
2026-04-30SCHEDULE 13GVanguard Capital Management7.2%3,561,866
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.1%2,528,928
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
FSELX4.64%$2.1B
VITSX0.09%$2.0B
VSMPX0.09%$2.0B
VTSAX0.09%$2.0B
VTI0.09%$2.0B
VOO0.10%$1.7B

Share structure

Shares outstanding49,143,000
Float47,387,612
Free float96.4%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
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
R&D$190.6M$240.2M$263.6M$324.7M$382.3M
SG&A$232.4M$281.6M$275.7M$356.8M$428.8M
Operating income$262.4M$526.8M$481.7M$539.4M$728.6M
EBITDA$291.1M$563.9M$521.9M$575.8M$817.2M
Pretax income$272.2M$524.9M$505.8M$572.9M$766.2M
Income tax$30.2M$87.3M$78.5M−$1.2B$150.3M
Net income$242.0M$437.7M$427.4M$1.8B$615.9M
EPS, diluted$5.05$9.05$8.76$36.59$12.75
Diluted shares47.9M48.4M48.8M48.8M48.3M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$725.1M$737.9M$1.1B$862.9M$1.3B
Receivables$126.5M$197.2M$250.0M$232.5M$315.6M
Inventory$259.4M$447.3M$383.7M$419.6M$564.6M
Total current assets$1.1B$1.4B$1.8B$1.6B$2.2B
PP&E, net$363.0M$357.2M$369.0M$529.1M$652.6M
Goodwill & intangibles$6.6M$6.6M$6.6M$35.9M$34.7M
Total assets$1.6B$2.1B$2.4B$3.6B$4.2B
Accounts payable$83.0M$61.5M$63.0M$102.5M$138.3M
Total 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
Shareholders' equity$1.2B$1.7B$2.0B$3.1B$3.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$242.0M$437.7M$427.4M$1.8B$621.5M
Depreciation & amortization$28.7M$37.1M$40.2M$36.4M$52.5M
Stock-based compensation$123.5M$161.0M$149.7M$205.6M$0
Change in working capital−$71.6M−$387.0M$30.3M$92.1M−$88.1M
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
Investing cash flow−$378.9M−$12.5M−$178.7M$223.0M−$157.3M
Net debt issued / repaid$0$0$0$0$0
Buybacks$4.7M$5.9M−$3.7M−$636.2M−$7.7M
Dividends paid−$109.4M−$138.0M−$185.8M−$240.6M−$284.8M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin56.8%58.4%56.1%55.3%55.2%
Operating margin21.7%29.4%26.5%24.4%26.1%
Net margin20.0%24.4%23.5%81.0%22.1%
FCF margin18.6%10.5%31.9%29.1%23.8%
ROE21.9%30.1%23.0%68.8%18.4%
ROIC45.0%47.1%43.0%73.2%25.5%
ROA17.3%24.0%19.0%59.1%15.8%
Debt / equity0.000.000.000.010.01
Interest coverage—————
Current ratio4.965.367.745.315.91
Revenue growth+43.0%+48.5%+1.5%+21.2%+26.4%
EPS growth+45.3%+79.7%−3.0%+321.3%−66.0%
P/E at year end95.5x38.4x71.2x16.0x72.4x
EV / EBITDA at year end75.3x28.3x56.2x48.0x54.1x
FCF yield at year end0.97%1.12%1.91%2.25%1.49%
Dividend payout45.2%31.5%43.5%13.5%46.2%

Revenue by segment

FY2021FY2022FY2023
DC To DC Products$1.1B$1.7B$1.7B
Lighting Control Products$60.5M$97.6M$102.4M

Revenue by region · FY2025

CHINA$1.5B · 55%
TAIWAN, PROVINCE OF CHINA$550.1M · 20%
KOREA, REPUBLIC OF$252.7M · 9%
South East Asia$148.1M · 5%
Europe$113.5M · 4%
UNITED STATES$96.7M · 3%
JAPAN$84.4M · 3%
Other Region$484,000 · 0%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $7.74 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$4.2B$4.1B – $4.2B$27.51$27.27 – $27.781044.0x
2027$5.4B$5.0B – $5.6B$36.21$33.38 – $38.831033.4x
2028$6.4B$5.4B – $9.2B$43.41$35.63 – $50.50627.9x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$5.87$6.50+10.7%$903.3M$980.6M+8.6%
2026-04-30$4.90$5.10+4.1%$781.9M$804.2M+2.8%
2026-02-05$4.74$4.79+1.1%$742.4M$751.2M+1.2%
2025-10-30$4.64$4.73+1.9%$722.4M$737.2M+2.0%
2025-07-31$4.12$4.21+2.2%$652.0M$664.6M+1.9%
2025-05-01$4.01$4.04+0.7%$634.2M$637.6M+0.5%
2025-02-06$4.01$4.09+2.0%$608.1M$621.7M+2.2%
2024-10-30$3.97$4.06+2.3%$600.6M$620.1M+3.3%
2024-08-01$3.07$3.17+3.3%$490.7M$507.4M+3.4%
2024-05-01$2.66$2.81+5.6%$447.7M$457.9M+2.3%
2024-02-07$2.85$2.88+1.1%$452.1M$454.0M+0.4%
2023-10-30$3.07$3.08+0.3%$474.1M$474.9M+0.2%
2023-07-31$2.81$2.82+0.4%$440.3M$441.1M+0.2%
2023-05-04$2.96$3.00+1.4%$449.3M$451.1M+0.4%
2023-02-08$3.15$3.17+0.6%$460.0M$460.0M+0.0%
2022-10-27$3.49$3.53+1.1%$491.2M$495.4M+0.9%
2022-08-01$2.94$3.25+10.5%$430.6M$461.0M+7.1%
2022-05-02$2.26$2.45+8.4%$360.5M$377.7M+4.8%
2022-02-10$1.87$2.12+13.4%$321.3M$336.5M+4.7%
2021-10-28$2.00$2.06+3.0%$314.6M$323.5M+2.8%
2021-07-27$1.69$1.81+7.1%$314.6M$293.3M−6.8%
2021-05-04$1.33$1.46+9.8%$242.8M$254.5M+4.8%
2021-02-04$1.24$1.31+5.6%$225.0M$233.0M+3.6%
2020-10-29$1.68$1.69+0.6%$257.9M$259.4M+0.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.406-152.306-221.606-291.407-061.207-131.307-202.307-271.608-030.708-101.008-170.808-240.908-31
Week ofNotionalSharesTrades
2026-08-31$856.1M697,21661,118
2026-08-24$799.5M620,55857,195
2026-08-17$996.4M748,82564,125
2026-08-10$689.8M491,19347,098
2026-08-03$1.6B1,152,89286,639
2026-07-27$2.3B1,676,331111,676

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1543.4%
DateShort shareShort volumeTotal volume
2026-10-1543.4%127,215293,043
2026-10-1442.3%130,690308,685
2026-10-1339.4%82,349209,160
2026-10-1227.6%64,802235,142
2026-10-0936.6%58,960161,251
2026-10-0849.8%110,605222,302
2026-10-0768.4%83,115121,586
2026-10-0661.7%76,787124,527
2026-10-0563.4%172,049271,340
2026-10-0255.8%155,025277,941
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.1Jan+3.4Feb+3.5Mar+4.6Apr+2.8May+0.8Jun+2.3Jul+4.3Aug-1.0Sep+2.9Oct+0.7Nov+5.9Dec
MonthAvg returnUp yearsYears
Jan−0.1%50%20
Feb+3.4%60%20
Mar+3.5%62%21
Apr+4.6%65%20
May+2.8%75%20
Jun+0.8%50%20
Jul+2.3%50%20
Aug+4.3%55%20
Sep−1.0%55%20
Oct+2.9%55%20
Nov+0.7%70%20
Dec+5.9%70%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1437.7
MFI35.1
ADX22.4
Stochastic %K / %D9.0 / 10.7
Williams %R-94.7
CCI-166
TSI / signal-1.9 / 7.5
Chaikin money flow0.23
ATR$56.39
Bollinger width20.6%
Volume vs 20-day avg1.11x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$1,351.78 (−10.4%)
SMA 50$1,307.11 (−7.4%)
SMA 200$1,303.53 (−7.1%)
EMA 21$1,318.76 (−8.2%)
EMA 50$1,321.54 (−8.4%)
EMA 200$1,266.80 (−4.4%)
Bollinger upper$1,491.38 (−18.8%)
Bollinger lower$1,212.17 (−0.1%)
Parabolic SAR$1,443.58 (−16.1%)
Open the live chart, 110+ indicators

About Monolithic Power Systems, Inc.

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.

https://www.monolithicpower.com

Key executives

NameTitlePayBorn
Michael R. HsingFounder, Chairman, President & Chief Executive Officer$7.2M1960
Saria TsengEVice President of Strategic Corporate Development, General Counsel & Corporate Secretary$3.8M1971
Deming XiaoExecutive Vice President of Global Operations$3.8M1963
Maurice SciammasExecutive Vice President of Worldwide Sales & Marketing$3.8M1960
Arthur LeeFinance Manager——
Genevieve CunninghamSenior Manager of Marketing Communications——
Robert W. DeanInterim Chief Financial Officer—1965
Tony BalowVice President of Finance——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Michael Hsing Chairman of the Board, President and Chief Executive Officer2025$1.0M$12.7M$6.2M$19.9M
Saria Tseng Executive Vice President, Strategic Corporate Development, General Counsel and Corporate Secretary2025$536,100$5.2M$3.2M$9.0M
Deming Xiao Executive Vice President, Global Operations2025$536,100$5.2M$3.2M$9.0M
Maurice Sciammas Executive Vice President, Worldwide Sales and Marketing2025$536,100$5.2M$3.2M$9.0M
Bernie Blegen Executive Vice President, Chief Financial Officer2025$494,862$3.6M$3.0M$7.0M

Employees

2k20182k20192k20203k20213k20224k20234k20245k2025

Dividends

Ex-dateAmountPaid
2026-09-30$22026-10-15
2026-06-30$22026-07-15
2026-03-31$22026-04-15
2025-12-31$1.562026-01-15
2025-09-30$1.562025-10-15
2025-06-30$1.562025-07-15
2025-03-31$1.562025-04-15
2024-12-31$1.252025-01-15

Moat model

Narrow · Cost Advantage · 2026-06-30
Cost advantage87
Intangibles51
Switching costs60
Network effect62
Efficient scale75
Our component scores (0-100) and overall 65.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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