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Monolithic Power Systems, Inc. provides semiconductor-based power electronics solutions in China, Taiwan, South Korea, Southeast Asia, Europe, the United States, Japan, and internationally. The company offers direct current (DC) to DC solutions to convert and control voltages within a range of electronic systems, such as cloud-based and on-premises CPU servers and workstations, AI systems, memory, storage solutions, notebooks, infotainment, power sources, home appliances, network infrastructure, and satellite communications. It also provides alternating current (AC) to DC; driver metal-oxide-semiconductor field-effect transistors; power management integrated circuits (ICs); and current limit switch and lighting control products. The company serves storage and computing, enterprise data, automotive, communications, consumer, and industrial end markets through third-party distributors and value-added resellers. Monolithic Power Systems, Inc. was incorporated in 1997 and is based in West Palm Beach, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.8B | $781M | $621M | $663M | 17.6% | 26.4% | -61.0% |
| 2024 | $2.2B | $576M | $1.6B | $624M | 53.9% | 21.2% | 272.5% |
| 2023 | $1.8B | $522M | $427M | $581M | 20.8% | 1.5% | -2.4% |
| 2022 | $1.8B | $564M | $438M | $188M | 26.2% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,794.15 | 1,821.07 | 2,207.10 | 2,790.46 |
| Operating Revenue | - | 1,794.15 | 1,821.07 | 2,207.10 | 2,790.46 |
| Cost Of Revenue | - | 745.60 | 799.95 | 986.23 | 1,250.72 |
| Gross Profit | - | 1,048.55 | 1,021.12 | 1,220.87 | 1,539.74 |
| Operating Expense | - | 521.77 | 539.38 | 681.51 | 811.10 |
| Research And Development | - | 240.17 | 263.64 | 324.75 | 382.26 |
| Selling General And Administration | - | 281.60 | 275.74 | 356.76 | 428.84 |
| Total Expenses | - | 1,267.36 | 1,339.34 | 1,667.74 | 2,061.82 |
| Operating Income | - | 526.78 | 481.74 | 539.36 | 728.64 |
| Total Operating Income As Reported | - | 526.78 | 481.74 | 539.36 | 728.64 |
| EBITDA | - | 563.90 | 521.90 | 575.79 | 781.15 |
| Normalized EBITDA | - | 570.50 | 513.40 | 566.39 | 771.12 |
| EBIT | - | 526.78 | 481.74 | 539.36 | 728.64 |
| Interest Income | - | 14.37 | 23.36 | 27.09 | 29.15 |
| Net Interest Income | - | 14.37 | 23.36 | 27.09 | 29.15 |
| Other Non Operating Income Expenses | - | -5.24 | -13.04 | -23.08 | -5.71 |
| Other Income Expense | - | -16.22 | 0.74 | 6.46 | 8.43 |
| Interest Income Non Operating | - | 14.37 | 23.36 | 27.09 | 29.15 |
| Net Non Operating Interest Income Expense | - | 14.37 | 23.36 | 27.09 | 29.15 |
| Pretax Income | - | 524.94 | 505.84 | 572.91 | 766.22 |
| Tax Provision | - | 87.26 | 78.47 | -1,019.15 | 144.73 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.10 | 1.32 | 1.97 | 1.90 |
| Net Income Continuous Operations | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Net Income From Continuing And Discontinued Operation | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Net Income From Continuing Operation Net Minority Interest | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Net Income | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Net Income Common Stockholders | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Net Income Including Noncontrolling Interests | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Normalized Income | - | 443.18 | 420.19 | 1,584.63 | 613.35 |
| Diluted NI Availto Com Stockholders | - | 437.67 | 427.37 | 1,592.06 | 621.48 |
| Basic Average Shares | - | 46.73 | 47.61 | 48.60 | 48.04 |
| Diluted Average Shares | - | 48.36 | 48.77 | 48.84 | 48.31 |
| Reconciled Depreciation | - | 37.11 | 40.17 | 36.43 | 52.51 |
| Reconciled Cost Of Revenue | - | 745.60 | 799.95 | 986.23 | 1,250.72 |
| Total Unusual Items | - | -6.60 | 8.51 | 9.40 | 10.03 |
| Total Unusual Items Excluding Goodwill | - | -6.60 | 8.51 | 9.40 | 10.03 |
| Special Income Charges | -6.22 | -8 | - | - | - |
| Other Special Charges | 6.22 | 8 | - | - | - |
| Gain On Sale Of Security | - | -6.60 | 8.51 | 9.40 | 10.03 |
| Securities Amortization | - | 4.38 | -5.28 | -20.14 | -4.10 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Monolithic Power Systems, Inc.this co. | MPWR | $81.2B | 130.64↓ discount | 22.99 | 17.6% | 102.56 |
| Automatic Data Processing, Inc. | ADP | $92.5B | 22.66 | 14.94 | 65.9% | 14.76 |
| Datadog, Inc. | DDOG | $86.7B | 804.83 | 23.23 | 2.9% | 430.85 |
| Intuit Inc. | INTU | $82.6B | 21.35 | 4.19 | 19.6% | 14.66 |
| Coherent Corp. | COHR |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $82.5B |
| 1672.07 |
| 14.62 |
| 0.9% |
| 95.98 |
| NXP Semiconductors N.V. | NXPI | $81.4B | 40.25 | 8.09 | 20.1% | 22.89 |
| Ciena Corporation | CIEN | $75.8B | 614.93 | 27.79 | 4.5% | 196.65 |
| Lumentum Holdings Inc. | LITE | $73.5B | 2838.89 | 64.80 | 2.3% | 708.00 |
| Hewlett Packard Enterprise Company | HPE | $71.1B | 1247.31 | 2.88 | 0.2% | 20.41 |
| Peer Median | - | 709.88 | 14.78 | 3.7% | 59.44 | |