MONOLITHIC POWER SYSTEMS INC

10-K & 10-Q Filings

Monolithic Power Systems, Inc. is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. The company was founded in 1997 and has over 3,500 employees worldwide. Monolithic Power Systems focuses on the market for high performance analog and mixed-signal ICs, which are used in storage and computing, automotive, enterprise data, communications, and consumer applications. The company's proprietary process and packaging technologies enable it to design and deliver smaller, single-chip power management ICs, which are differentiated by their high degree of integration, high voltage operation, high load current, high switching speed, small footprint, and high energy efficiency. The company's product families include DC to DC Products, which accounted for 94% of its total revenue in 2023, and Lighting Control Products, which accounted for 6% of its total revenue in 2023. Monolithic Power Systems has sales offices in China, India, Japan, Singapore, South Korea, Taiwan, the United States, and throughout Europe. Its website is www.monolithicpower.com and its ticker symbol is MPWR.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$0.31
213.81
238.09
282.54
333.07
388.67
470.93
582.38
627.92
844.45
1207.80
1794.15
1821.07
451.06
457.88
106.16%1.51%Cost of Revenue (-)
$-101.28
100.67
110.19
129.92
152.90
177.79
212.65
259.71
281.60
378.50
522.34
745.60
799.95
192.28
205.44
6.84%Gross Profit (+)
$101.59
113.15
127.90
152.62
180.17
210.87
258.28
322.67
346.32
465.95
685.46
1048.55
1021.12
258.78
252.44
21.20%-2.45%Selling, General & Administrative (-)
$40.28
50.02
54.62
66.75
72.31
83.01
97.26
113.80
133.54
161.67
226.19
273.60
275.74
70.80
80.96
17.39%14.36%Research & Development (-)
$44.52
48.80
49.73
58.59
65.79
73.64
82.36
93.45
107.76
137.60
190.63
240.17
263.64
63.71
75.99
15.98%19.28%Non-recurring Operating Expenses (-)
$
-0.23
Operating Expenses (-)
$88.18
95.87
103.99
117.32
139.10
156.43
180.86
209.18
243.76
307.07
423.04
521.77
539.38
134.50
156.95
16.29%16.69%Costs & Expenses (Total) (-)
$-13.11
196.53
214.18
247.24
292.00
334.22
393.50
468.89
525.36
685.57
945.38
1267.36
1339.34
326.79
362.40
10.90%Operating Income/Loss (+)
$13.42
17.28
23.91
35.30
41.07
54.45
77.42
113.49
102.56
158.88
262.42
526.78
481.74
124.28
95.49
34.77%-23.17%Non-operating Income/Expense (+)
$
0.61
0.09
1.09
1.42
2.82
5.52
4.99
10.56
10.46
9.80
-1.85
24.11
5.30
9.54
80.10%Interest Expense (-)
$-0.36
Earnings before Tax (+)
$13.73
17.89
24.01
36.39
42.49
57.26
82.94
118.48
113.12
169.34
272.22
524.94
505.84
129.57
105.03
35.06%-18.94%Tax Expense (-)
$0.42
2.13
1.11
0.90
7.32
4.54
17.74
13.21
4.28
4.97
30.20
87.27
78.47
19.77
12.49
54.47%-36.85%Income/Loss (Continuing Operations) (+)
$13.30
15.76
22.90
35.50
35.17
52.72
65.20
105.27
108.84
164.38
242.02
437.67
427.37
109.80
92.54
33.53%-15.72%Profit/Loss (+)
$13.30
Net Income/Loss (+)
$13.30
15.76
22.90
35.49
35.17
52.72
65.20
105.27
108.84
164.38
242.02
437.67
427.37
109.80
92.54
33.53%-15.72%Net Income/Loss (Common) (+)
$13.30
15.76
22.90
35.49
35.17
52.72
65.20
105.27
108.84
164.38
242.02
437.67
427.37
109.80
92.54
33.53%-15.72%EPS (Basic)
$0.39
0.45
0.61
0.92
0.89
1.30
1.58
2.49
2.52
3.67
5.28
9.37
8.98
2.32
1.90
29.87%-18.10%EPS (Diluted)
$0.38
0.43
0.59
0.89
0.86
1.26
1.50
2.36
2.38
3.50
5.05
9.05
8.76
2.26
1.89
29.89%-16.37%Weighted Avg Shares (Basic)
34.05
0.03
37.39
38.69
39.47
40.44
41.35
42.25
43.16
44.84
45.85
46.73
47.61
47.23
48.63
2.83%2.97%Weighted Avg Shares (Diluted)
35.16
0.04
38.62
39.79
40.87
41.91
43.58
44.60
45.76
47.01
47.89
48.36
48.77
48.66
48.93
2.76%0.56%Cash
$96.37
75.10
101.21
126.27
90.86
112.70
82.76
172.70
172.96
334.94
189.26
288.61
527.84
488.97
488.27
15.22%-0.14%Short-term Investments
$77.83
85.52
125.13
112.45
144.10
155.52
216.33
204.58
282.44
260.17
535.82
449.27
580.63
428.60
798.12
18.23%86.22%Receivables
$15.10
19.38
23.73
25.63
30.83
34.25
38.04
55.21
52.70
66.84
104.81
182.71
179.86
184.27
194.43
22.93%5.51%Inventory
$20.10
32.12
39.74
40.92
63.21
71.47
99.28
136.38
127.50
157.06
259.42
447.29
383.70
430.83
395.99
27.86%-8.09%Prepaid Expenses (Current)
$
2.93
Other Assets (Current)
$2.11
2.18
9.04
12.76
11.93
19.61
22.98
35.54
42.74
147.46
89.95
99.69
42.48%10.82%Assets (Current)
$211.50
214.30
292.09
308.15
331.93
382.98
449.17
580.81
655.21
842.00
1124.85
1410.62
1819.50
1622.63
1976.49
19.64%21.81%Securities & Long-term Investments
$13.68
11.76
9.86
5.39
5.36
5.35
5.26
3.24
3.14
Property, Plant & Equipment (Net)
$47.79
59.41
64.84
62.94
65.36
85.17
144.64
150.00
228.31
281.53
362.96
357.16
368.95
354.31
375.57
18.57%6.00%Goodwill & Intangibles
$
13.38
11.62
9.57
7.52
6.68
6.57
6.57
6.57
6.57
6.57
6.57
36.83
460.48%Other Assets
$2.58
3.87
4.11
12.39
17.01
28.04
45.98
52.70
63.14
78.39
91.44
284.54
239.33
243.14
189.81
45.87%-21.93%Assets (Non-current)
$64.05
75.04
78.81
94.10
99.36
128.14
203.40
212.62
301.17
366.49
460.97
648.27
614.85
604.02
602.21
20.74%-0.30%Assets (Total)
$273.87
287.16
368.91
399.37
431.29
511.13
652.57
793.43
956.38
1208.49
1585.83
2058.89
2434.35
2226.65
2578.70
19.97%15.81%Accounts Payable
$18.23
17.55
21.11
22.16
23.30
52.92
65.92
80.44
98.22
146.97
226.94
263.40
235.03
315.84
311.88
23.75%-1.25%Other Liabilities (Current)
$7.84
5.92
17.38
14.70
19.98
Liabilities (Current)
$26.07
23.46
38.49
36.86
43.28
52.92
65.92
80.44
98.22
146.97
226.94
263.40
235.03
315.84
311.88
20.11%-1.25%Other Liabilities
$4.92
5.41
7.02
16.08
19.49
27.09
64.64
72.90
84.66
94.94
114.90
126.88
149.38
134.55
153.26
32.90%13.91%Liabilities (Non-current)
$4.92
5.41
7.02
16.08
19.49
27.09
64.64
72.90
84.66
94.94
114.90
126.88
149.38
134.55
153.26
32.90%13.91%Liabilities (Total)
$30.99
28.87
45.51
52.94
62.77
80.01
130.56
153.34
182.88
241.90
341.84
390.28
384.41
450.39
465.14
23.35%3.28%Retained Earnings
$79.95
60.04
82.94
100.11
101.29
119.36
143.61
194.73
229.45
298.75
424.88
716.40
947.06
777.08
977.72
22.88%25.82%AOCI
$3.59
4.17
6.26
5.81
1.47
-4.21
1.81
-5.54
-5.48
10.14
15.88
-23.08
-27.06
-17.95
-40.55
-125.96%Shareholder's Equity
$242.88
258.29
323.40
346.43
368.52
431.12
522.01
640.09
773.49
966.59
1243.98
1668.60
2049.94
1776.26
2113.56
19.45%18.99%Liabilities & Equity
$273.87
287.16
368.91
399.37
431.29
511.13
652.57
793.43
956.38
1208.49
1585.83
2058.89
2434.35
2226.65
2578.70
19.97%15.81%Net Income/Loss
$13.30
15.76
22.90
35.49
35.17
52.72
65.20
105.27
108.84
164.38
242.02
437.67
427.37
109.80
92.54
33.53%-15.72%Depreciation & Amortization
$9.11
9.59
12.16
13.13
13.78
14.67
16.10
12.31
15.60
22.16
33.37
41.49
34.89
10.25
4.13
11.84%-59.72%Increase/Decrease in Working Capital
$10.77
-12.24
-28.28
-2.03
-42.96
2.95
-15.70
37.52
-17.81
-3.00
71.64
386.96
-30.32
-64.91
-109.29
-68.38%Share-based Compensation
$13.13
18.65
20.70
33.45
41.56
44.99
52.62
60.61
78.70
85.55
123.48
160.99
149.71
37.01
45.93
22.49%24.09%Adjustments to Reconcile Net Income
$30.38
9.16
37.79
38.64
34.56
55.07
68.62
36.18
107.46
103.43
77.99
-191.00
210.84
109.00
155.51
17.52%42.66%Net Cash (Operating)
$43.69
24.91
60.69
74.13
69.74
107.79
133.82
141.45
216.30
267.80
320.01
246.67
638.21
218.81
248.05
25.04%13.37%Capital Expenditure
$-21.02
-21.07
-15.85
-21.10
-16.36
37.11
65.77
22.53
86.54
55.61
95.21
58.84
57.58
8.85
49.27
456.53%Net Cash (Investing)
$36.22
-26.84
-54.32
-9.37
-57.20
-55.73
-134.06
-14.74
-167.11
-39.18
-378.89
-12.51
-178.73
12.31
-266.01
-2260.26%Increase/Decrease in Equity
$44.94
15.24
60.64
43.28
34.51
2.46
2.85
13.66
19.93
22.59
21.99
11.23
4.94
4.85
0.53
-16.80%-89.07%Dividends Paid
$
-35.66
67.29
88.79
109.36
137.97
185.84
36.73
49.55
34.93%Net Cash (Financing)
$-31.98
-19.55
18.85
-39.23
-46.65
-28.13
-31.32
-34.56
-48.05
-71.56
-90.21
-128.78
-183.72
-32.25
-50.00
-55.03%Cash Taxes Paid
$0.68
0.81
1.12
1.24
10.70
1.41
21.15
85.03
85.13
-1.30
0.72
49.65%155.77%Effect of Exchange Rate
$0.43
0.21
0.90
-0.49
-1.29
-2.09
1.62
-2.21
-0.88
4.93
3.40
-6.04
-3.31
1.50
-4.82
-421.84%Increase/Decrease in Cash
$48.36
-21.27
26.11
25.05
-35.41
21.84
-29.94
89.94
0.26
162.00
-145.68
99.34
272.45
200.37
-72.78
15.50%-136.33%Cash (Beginning)
$48.01
96.37
75.10
101.21
126.27
90.86
112.70
82.87
172.82
173.08
335.07
189.39
288.73
288.73
561.18
16.13%94.36%Cash (Ending)
$96.37
75.10
101.21
126.27
90.86
112.70
82.76
172.82
173.08
335.07
189.39
288.73
561.18
489.10
488.40
15.81%-0.14%NOPAT
$12.76
16.50
22.80
34.10
34.00
50.13
60.86
100.83
92.86
157.56
242.03
441.45
400.66
105.31
94.83
33.28%-9.96%Gross Margin %
32878.32%
52.92%
53.72%
54.02%
54.09%
54.26%
54.85%
55.40%
55.15%
55.18%
56.75%
58.44%
56.07%
57.37%
55.13%
Operating Margin %
4342.07%
8.08%
10.04%
12.49%
12.33%
14.01%
16.44%
19.49%
16.33%
18.81%
21.73%
29.36%
26.45%
27.55%
20.85%
NOPAT Margin %
4128.54%
7.72%
9.58%
12.07%
10.21%
12.90%
12.92%
17.31%
14.79%
18.66%
20.04%
24.61%
22.00%
23.35%
20.71%
Net Margin %
4304.53%
7.37%
9.62%
12.56%
10.56%
13.56%
13.85%
18.08%
17.33%
19.47%
20.04%
24.39%
23.47%
24.34%
20.21%
Tax Rate %
4.92%
4.51%
4.65%
3.39%
17.22%
7.94%
21.39%
11.15%
9.46%
0.83%
7.77%
16.20%
16.83%
15.26%
0.69%
ROA
4.66%
5.75%
6.18%
8.54%
7.88%
9.81%
9.33%
12.71%
9.71%
13.04%
15.26%
21.44%
16.46%
4.73%
3.68%
ROE
5.25%
6.39%
7.05%
9.84%
9.23%
11.63%
11.66%
15.75%
12.01%
16.30%
19.46%
26.46%
19.55%
5.93%
4.49%
ROIC
20.96%
14.76%
18.64%
24.08%
19.54%
26.89%
22.49%
30.92%
24.46%
35.05%
38.56%
48.53%
45.21%
14.93%
12.87%
Asset Turnover
0.00
0.74
0.65
0.71
0.77
0.76
0.72
0.73
0.66
0.70
0.76
0.87
0.75
0.20
0.18
Inventory Turnover
-5.04
3.13
2.77
3.18
2.42
2.49
2.14
1.90
2.21
2.41
2.01
1.67
2.08
0.45
0.52
Equity Multiplier
1.13
1.11
1.14
1.15
1.17
1.19
1.25
1.24
1.24
1.25
1.27
1.23
1.19
1.25
1.22
Current Ratio
8.11
9.13
7.53
8.28
7.67
7.24
6.81
7.22
6.67
5.73
4.96
5.36
7.74
5.14
6.34
Quick Ratio
7.26
7.67
6.50
7.17
6.14
5.72
5.11
5.38
5.17
4.50
3.66
3.50
5.48
3.49
4.75
Working Capital/Sales
42.34
0.24
0.24
0.23
0.29
0.24
0.25
0.29
0.23
0.19
0.21
0.30
0.28
0.76
0.71
R&D/Sales
144.07
0.23
0.21
0.21
0.20
0.19
0.17
0.16
0.17
0.16
0.16
0.13
0.14
0.14
0.17
Dividend Payout Ratio %
-216.15%
72.47%
56.35%
45.19%
31.25%
46.38%
34.87%
52.26%
Total Payout
$-44.94
-50.91
-60.64
-43.28
-34.51
-2.46
-2.85
-13.66
47.37
66.20
87.37
126.73
180.90
31.88
49.02
53.78%Payout Ratio %
-352.29%
-308.53%
-265.91%
-126.90%
-101.52%
-4.91%
-4.68%
-13.55%
51.01%
42.01%
36.10%
28.71%
45.15%
30.27%
51.70%