MPWRNasdaqSemiconductors & Related DevicesFiscal year ends December 31
MONOLITHIC POWER SYSTEMS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$1253.66+42.80 (+3.53%)
Close on Oct 19, 2026
- Market cap
- $61.76B
- P/E (TTM)
- 76.6
- Dividend yield
- 0.50%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
55.2%+0.0 pts over 5 years
Operating margin
26.1%+7.3 pts over 5 years
Net margin
22.3%+2.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +26.4% | +15.9% | +27.0% | +23.7% | |
| Gross profit | +26.1% | +13.7% | +27.0% | +23.9% | |
| Operating income | +35.1% | +11.4% | +35.6% | +33.3% | |
| Net income | -61.0% | +12.4% | +30.5% | +33.3% | |
| EPS, diluted | -60.6% | +12.4% | +29.7% | +31.1% | |
| Free cash flow | +3.7% | +52.5% | +25.7% | +28.6% | |
| Dividend per share | +24.8% | +27.7% | +25.6% | +22.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.2% | 18.9% | 19.2% | |
| Return on assets | 11.2% | 15.2% | 16.1% | |
| Current ratio | 7.24 | 5.73 | 5.91 | |
| Inventory turnover | 2.6× | 2.7× | 2.5× | |
| Capex to revenue | 9.5% | 6.6% | 6.2% | |
| Diluted shares | 42M | 47M | 48M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Monolithic Power Systems generated $2.83B from operations and spent $2.13B on capital expenditure, dividends and share buybacks. 25% of that went back into the business.
Generated
$2.83B
Used
$2.13B
Capital expenditure$528.97M25%Dividends$958.59M45%Share buybacks$646.50M30%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin22.3%
×Asset turnover0.72×
×Equity multiplier1.19×
=Return on equity, FY202519.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 22.3% | 0.72× | 1.19× | 19.2% |
| FY2024 | 72.1% | 0.74× | 1.19× | 63.7% |
| FY2023 | 23.5% | 0.81× | 1.21× | 23.0% |
| FY2022 | 24.4% | 0.98× | 1.25× | 30.1% |
| FY2021 | 20.0% | 0.86× | 1.26× | 21.9% |
| FY2020 | 19.5% | 0.78× | 1.24× | 18.9% |
| FY2019 | 17.3% | 0.72× | 1.24× | 15.4% |
| FY2018 | 18.1% | 0.81× | 1.24× | 18.1% |
| FY2017 | 13.8% | 0.81× | 1.22× | 13.7% |
| FY2016 | 13.6% | 0.82× | 1.18× | 13.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$621.48M
- Cash generatingOperating cash flow above zero$838.20M
- Return on assets improvedROA up on the prior year65.4% → 17.7%
- Earnings backed by cashOperating cash flow above net income$838.20M vs $621.48M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.31 → 5.91
- No dilutionShare count did not rise49M → 48M
- Gross margin improvedGross margin up on the prior year55.32% → 55.18%
- More efficientAsset turnover rose0.91 → 0.79