MPWR - Monolithic Power Systems, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$1187.50
DETAILS
HIGH:
$1375.00
LOW:
$1025.00
MEDIAN:
$1162.50
CONSENSUS:
$1187.50
UPSIDE:
14.94%
| Metric | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 737.2 | 664.6 | 637.6 | 621.7 | 620.1 | 507.4 | 457.9 | 454.0 | 474.9 | 441.1 |
| Cost of Revenue | 330.9 | 298.6 | 284.3 | 277.3 | 276.7 | 226.9 | 205.4 | 202.9 | 211.3 | 193.5 |
| Gross Profit | 406.2 | 366.0 | 353.2 | 344.4 | 343.4 | 280.6 | 252.4 | 251.1 | 263.5 | 247.7 |
| Operating Expenses | ||||||||||
| R&D Expenses | 98.2 | 96.3 | 92.2 | 85.8 | 85.1 | 77.9 | 76.0 | 71.5 | 64.8 | 63.7 |
| SG&A Expenses | 112.9 | 105.0 | 92.2 | 95.3 | 94.4 | 86.1 | 81.0 | 70.1 | 63.2 | 71.7 |
| Other Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Operating Expenses | 211.0 | 201.3 | 184.5 | 181.1 | 179.4 | 164.0 | 157.0 | 141.6 | 128.0 | 135.3 |
| Operating Income | ||||||||||
| Operating Income | 195.2 | 164.8 | 168.8 | 163.3 | 164.0 | 116.5 | 95.5 | 109.6 | 135.6 | 112.3 |
| Interest Expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Interest Income | 11.7 | 6.0 | 5.7 | 6.7 | 6.8 | 6.6 | 6.9 | 6.5 | 6.1 | 6.0 |
| Profitability | ||||||||||
| EBITDA | 219.3 | 177.9 | 180.2 | 173.3 | 173.5 | 125.2 | 103.7 | 119.8 | 145.6 | 122.3 |
| EBIT | 205.6 | 164.8 | 168.8 | 163.3 | 164.0 | 116.5 | 95.5 | 109.6 | 135.6 | 112.3 |
| Income Before Tax | 205.6 | 177.0 | 173.9 | 169.5 | 174.3 | 124.0 | 105.0 | 119.5 | 137.9 | 118.9 |
| Income Tax Expense | 27.3 | 43.3 | 40.1 | (1,279.8) | 29.9 | 23.7 | 12.5 | 22.6 | 16.7 | 19.4 |
| Net Income | 178.3 | 133.7 | 133.8 | 1,449.4 | 144.4 | 100.4 | 92.5 | 96.9 | 121.2 | 99.5 |
| Per Share Data | ||||||||||
| EPS (Basic) | 3.72 | 2.79 | 2.80 | 30.00 | 2.96 | 2.06 | 1.90 | 2.02 | 2.54 | 2.10 |
| EPS (Diluted) | 3.71 | 2.78 | 2.79 | 29.88 | 2.95 | 2.05 | 1.89 | 1.98 | 2.48 | 2.04 |
| Shares Outstanding | 47.9 | 47.9 | 47.9 | 48.3 | 48.8 | 48.7 | 48.6 | 47.9 | 47.8 | 47.5 |
| Metric | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 1,081.3 | 787.4 | 637.4 | 691.8 | 700.3 | 550.5 | 488.3 | 527.8 | 421.2 | 507.0 |
| Short-Term Investments | 188.2 | 358.7 | 389.3 | 171.1 | 762.0 | 756.8 | 798.1 | 580.6 | 621.1 | 433.5 |
| Net Receivables | 241.6 | 194.8 | 214.9 | 232.5 | 164.8 | 158.0 | 194.4 | 250.0 | 204.3 | 191.4 |
| Inventory | 505.7 | 490.6 | 454.8 | 419.6 | 424.9 | 426.8 | 396.0 | 383.7 | 397.3 | 427.4 |
| Other Current Assets | 36.0 | 10.3 | 8.0 | 13.9 | 17.0 | 17.9 | 18.1 | 48.4 | 12.3 | 7.6 |
| Total Current Assets | 2,112.7 | 1,918.8 | 1,788.4 | 1,565.1 | 2,160.4 | 1,997.4 | 1,976.5 | 1,819.5 | 1,735.4 | 1,632.4 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 597.3 | 601.6 | 563.2 | 529.1 | 471.3 | 434.2 | 375.6 | 369.0 | 358.2 | 341.9 |
| Goodwill | 25.9 | 25.9 | 25.9 | 25.9 | 26.1 | 26.1 | 27.3 | 6.6 | 6.6 | 6.6 |
| Intangible Assets | 9.1 | 9.4 | 9.7 | 9.9 | 10.2 | 10.5 | 9.5 | 0.0 | 0.0 | 0.0 |
| Long-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Non-Current Assets | 161.1 | 106.6 | 100.1 | 160.2 | 156.0 | 150.2 | 157.0 | 211.3 | 204.2 | 204.0 |
| Total Non-Current Assets | 2,093.6 | 2,053.5 | 2,017.4 | 2,052.0 | 694.3 | 650.7 | 602.2 | 614.9 | 592.7 | 588.3 |
| Total Assets | 4,206.4 | 3,972.2 | 3,805.8 | 3,617.1 | 2,854.7 | 2,648.1 | 2,578.7 | 2,434.4 | 2,328.1 | 2,220.6 |
| Current Liabilities | ||||||||||
| Account Payables | 141.7 | 129.9 | 127.3 | 102.5 | 115.9 | 99.9 | 103.5 | 63.0 | 64.7 | 70.6 |
| Short-Term Debt | 0.0 | 4.0 | 3.3 | 2.8 | 2.8 | 2.4 | 2.6 | 0.0 | 0.0 | 0.0 |
| Deferred Revenue | 0.0 | 0.0 | 0.0 | 0.0 | 6.3 | 5.6 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Current Liabilities | 99.6 | 77.3 | 71.5 | 61.1 | 102.5 | 83.2 | 98.1 | 56.3 | 93.0 | 86.3 |
| Total Current Liabilities | 442.8 | 383.5 | 363.4 | 294.6 | 336.6 | 295.2 | 311.9 | 235.0 | 250.0 | 250.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Deferred Tax Liabilities | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Other Non-Current Liabilities | 180.6 | 170.7 | 160.9 | 163.8 | 153.0 | 144.1 | 147.3 | 143.8 | 133.2 | 130.7 |
| Total Non-Current Liabilities | 195.6 | 186.6 | 175.3 | 176.8 | 166.5 | 157.1 | 153.3 | 149.4 | 133.2 | 130.7 |
| Total Liabilities | 638.4 | 570.1 | 538.8 | 471.3 | 503.1 | 452.3 | 465.1 | 384.4 | 383.2 | 381.5 |
| Stockholders' Equity | ||||||||||
| Common Stock | 885.1 | 822.6 | 765.0 | 706.8 | 1,274.1 | 1,224.1 | 1,176.4 | 1,129.9 | 1,092.6 | 1,055.1 |
| Retained Earnings | 2,705.5 | 2,603.2 | 2,545.4 | 2,487.5 | 1,098.8 | 1,016.2 | 977.7 | 947.1 | 899.4 | 827.4 |
| Accumulated Other Comprehensive Income | (22.7) | (23.7) | (43.3) | (48.5) | (21.2) | (44.5) | (40.5) | (27.1) | (47.1) | (43.4) |
| Total Stockholders' Equity | 3,567.9 | 3,402.1 | 3,267.0 | 3,145.8 | 2,351.7 | 2,195.9 | 2,113.6 | 2,049.9 | 1,944.9 | 1,839.1 |
| Total Liabilities & Equity | 4,206.4 | 3,972.2 | 3,805.8 | 3,617.1 | 2,854.7 | 2,648.1 | 2,578.7 | 2,434.4 | 2,328.1 | 2,220.6 |
| Debt Metrics | ||||||||||
| Total Debt | 15.1 | 19.9 | 17.8 | 15.8 | 16.3 | 15.5 | 8.6 | 5.6 | 0.0 | 0.0 |
| Net Debt | (1,066.2) | (767.5) | (619.6) | (678.8) | (686.9) | (537.4) | (479.7) | (522.3) | (421.2) | (507.0) |
| Metric | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 178.3 | 133.7 | 133.8 | 1,449.4 | 144.4 | 100.4 | 92.5 | 96.9 | 121.2 | 99.5 |
| Depreciation & Amortization | 13.7 | 13.1 | 11.4 | 10.0 | 9.4 | 8.7 | 8.3 | 10.2 | 10.0 | 10.0 |
| Stock-Based Compensation | (120.9) | 60.1 | 52.8 | 56.0 | 51.4 | 52.3 | 45.9 | 41.1 | 33.6 | 38.0 |
| Change in Working Capital | (79.1) | 29.8 | 49.3 | (47.7) | 37.8 | (7.3) | 109.3 | 18.9 | (0.7) | (52.8) |
| Other Non-Cash Items | 237.6 | (7.7) | 0.6 | (3.7) | (10.6) | (7.0) | (8.2) | (8.8) | (0.1) | (4.1) |
| Operating Cash Flow | 239.3 | 237.6 | 256.4 | 167.7 | 231.7 | 141.0 | 248.1 | 153.3 | 175.9 | 90.2 |
| Investing Activities | ||||||||||
| Capital Expenditure | (40.5) | (50.1) | (40.3) | (64.8) | (33.8) | (31.5) | (16.0) | (13.8) | (27.1) | (7.8) |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (33.3) | 0.0 | 0.0 | 0.0 |
| Purchases of Investments | (2.5) | (35.4) | (357.6) | (141.3) | (351.8) | (223.8) | (365.9) | (90.0) | (281.2) | (82.1) |
| Sales/Maturities of Investments | 173.4 | 70.2 | 141.1 | 728.3 | 359.3 | 270.7 | 149.8 | 140.1 | 96.0 | 79.5 |
| Other Investing Activities | (0.8) | (2.4) | (0.6) | (3.0) | (0.5) | (18.8) | (0.7) | (2.4) | (0.6) | (1.6) |
| Investing Cash Flow | 127.6 | (15.8) | (257.5) | 519.2 | (26.8) | (3.4) | (266.0) | 34.0 | (213.0) | (12.1) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Stock Repurchased | (1.6) | (3.7) | 5.3 | (622.1) | (5.5) | (4.5) | (4.1) | (3.7) | 0.0 | 0.0 |
| Dividends Paid | (74.9) | (75.1) | (60.0) | (61.9) | (61.2) | (68.1) | (49.6) | (50.6) | (49.4) | (49.1) |
| Other Financing Activities | 3.3 | (0.7) | (1.2) | (1.4) | 3.5 | (1.0) | (1.0) | (0.1) | (1.5) | (0.8) |
| Financing Cash Flow | (73.2) | (79.4) | (55.9) | (685.4) | (63.2) | (73.6) | (50.0) | (54.4) | (47.1) | (50.0) |
| Cash Position | ||||||||||
| Net Change in Cash | 293.9 | 150.0 | (54.5) | (8.5) | 150.0 | 62.2 | (72.8) | 139.9 | (85.8) | 18.0 |
| Cash at Beginning | 787.5 | 637.5 | 691.9 | 700.5 | 550.5 | 488.3 | 561.0 | 421.2 | 507.0 | 489.1 |
| Cash at End | 1,081.4 | 787.5 | 637.5 | 691.9 | 700.5 | 550.5 | 488.3 | 561.0 | 421.2 | 507.1 |
| Free Cash Flow | 198.8 | 187.5 | 216.0 | 102.9 | 197.9 | 109.5 | 232.1 | 139.5 | 148.8 | 82.4 |
| Key Metrics | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 737.2 | 664.6 | 637.6 | 621.7 | 620.1 | 507.4 | 457.9 | 454.0 | 474.9 | 441.1 |
| Gross Profit | 406.2 | 366.0 | 353.2 | 344.4 | 343.4 | 280.6 | 252.4 | 251.1 | 263.5 | 247.7 |
| Operating Income | 195.2 | 164.8 | 168.8 | 163.3 | 164.0 | 116.5 | 95.5 | 109.6 | 135.6 | 112.3 |
| Net Income | 178.3 | 133.7 | 133.8 | 1,449.4 | 144.4 | 100.4 | 92.5 | 96.9 | 121.2 | 99.5 |
| EPS (Diluted) | 3.71 | 2.78 | 2.79 | 29.88 | 2.95 | 2.05 | 1.89 | 1.98 | 2.48 | 2.04 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 1,081.3 | 787.4 | 637.4 | 691.8 | 700.3 | 550.5 | 488.3 | 527.8 | 421.2 | 507.0 |
| Total Assets | 4,206.4 | 3,972.2 | 3,805.8 | 3,617.1 | 2,854.7 | 2,648.1 | 2,578.7 | 2,434.4 | 2,328.1 | 2,220.6 |
| Total Debt | 15.1 | 19.9 | 17.8 | 15.8 | 16.3 | 15.5 | 8.6 | 5.6 | 0.0 | 0.0 |
| Stockholders' Equity | 3,567.9 | 3,402.1 | 3,267.0 | 3,145.8 | 2,351.7 | 2,195.9 | 2,113.6 | 2,049.9 | 1,944.9 | 1,839.1 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 239.3 | 237.6 | 256.4 | 167.7 | 231.7 | 141.0 | 248.1 | 153.3 | 175.9 | 90.2 |
| Capital Expenditure | (40.5) | (50.1) | (40.3) | (64.8) | (33.8) | (31.5) | (16.0) | (13.8) | (27.1) | (7.8) |
| Free Cash Flow | 198.8 | 187.5 | 216.0 | 102.9 | 197.9 | 109.5 | 232.1 | 139.5 | 148.8 | 82.4 |