Monolithic Power Systems, Inc. (MPWR) financials
NASDAQ · Technology · Semiconductors · 4,501 employees · CEO Michael R. Hsing
- Price
- $1,211.63 +1.07%
- Market cap
- $59.5B
- Enterprise value
- $59B
- Last report
- Q3 '26 filed 2026-10-29
- Next report
- 2027-02-04 EPS est. $9.20
Revenue (TTM)$3.74B+40.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)29.5%+3.5 pp vs a year agoOperating income $1.1B
Net income (TTM)$892M-52.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)–– vs a year agoCapex –
Diluted EPS (TTM)$18.12-53.7% vs a year agoSum of the last 4 quarters
Net cash$1.09B-13.0% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $59.5B EV $59B
- Revenue
- $3.74B Trailing 12 months
- Revenue growth
- +54% FY2026 consensus
- Profit margin
- 23.9% Net income / revenue, TTM
- P/E
- 66.5× Forward 42.0× (FY2026)
- P/S
- 15.9× Price / sales, TTM
- EV / EBITDA
- 49.5× TTM
- Free cash flow
- – Trailing 12 months
- Net income
- $892M Trailing 12 months
- Revenue estimate
- $4.31B FY2026 consensus
- Earnings
- 2027-02-04 Revenue est. $1.33B
- Dividend
- $7.12 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 3.5%, EPS beat by 5.1%Revenue $1.2B vs $1.16B expected (+3.5%); EPS $8.19 vs $7.79 (+5.1%).
- Revenue growth accelerating: 63.1% year on yearQ3 '26 revenue $1.2B, against an average of 28.4% over the four quarters before.
- Operating margin 29.5% (TTM), +3.5 pp on a year agoOperating income grew 59.3% while revenue grew 40.5%.
- Diluted share count up 2.4% in a year49.2M diluted shares in Q3 '26, 48M a year earlier.
- Net cash $1.09BCash + short-term investments $1.09B, debt incl. leases $0; a year ago net cash $1.25B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $1.2B | $737M | +63.1% |
| Gross margin | 55.4% | 55.1% | +0.2 pp |
| Operating income | $358M | $195M | +83.3% |
| Operating margin | 29.7% | 26.5% | +3.3 pp |
| Net income | $271M | $178M | +52.1% |
| Diluted EPS | $5.51 | $3.71 | +48.5% |
| Operating cash flow | – | $239M | – |
| Capex | – | $40.5M | – |
| Free cash flow | – | $199M | – |
| R&D | $141M | $98.2M | +43.2% |
| Stock-based compensation | – | -$121M | – |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $1.2B | $1.16B | +3.5% |
| EPS (as estimated) | $8.19 | $7.79 | +5.1% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '24 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| DC To DC Products | $616M | +37.7% | 99.4% | $1.96B | +13.8% | |
| Lighting Control Products | $4.01M | -85.4% | 0.6% | $78.2M | -24.7% |
Revenue by region
share of total| Segment | Q3 '24 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| CHINA | $502M | +26.1% | 51.2% | $1.7B | +21.6% | |
| Taiwan, Province Of China | $260M | +148.2% | 26.6% | $771M | +34.9% | |
| Korea, Republic Of | $87.9M | +38.4% | 9.0% | $295M | +33.5% | |
| South East Asia | $49M | +40.4% | 5.0% | $170M | +39.9% | |
| Europe | $34.8M | +31.5% | 3.6% | $133M | +30.7% | |
| United States | $26.2M | +44.6% | 2.7% | $119M | +99.4% | |
| JAPAN | $20.2M | +8.8% | 2.1% | $89.2M | +20.8% | |
| Other Region | $120K | -4.0% | 0.0% | $502K | +49.9% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Free cash flow
- –
- Returned to shareholders / FCF
- –
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 66.5× | 57.6× | 16.1× – 93.4× |
| EV / EBITDA | 49.5× | 51.1× | 28.9× – 74.5× |
| EV / Sales | 15.8× | 14.4× | 9.0× – 18.6× |
| Price / FCF | 101.7× | 70.1× | 44.8× – 100.6× |
| Price / Book | 15.9× | 12.8× | 9.1× – 18.2× |
| FCF yield | 1.0% | 1.6% | 1.0% – 2.2% |
| Return on invested capital | 21.3% | 18.3% | 15.3% – 24.5% |
| Return on equity | 24.0% | 28.2% | 17.4% – 56.8% |
Analysts
Consensus target $1,810.50 (+49.4%)
range $1,500.00 – $2,100.00 · rating Buy
Strong buy0
Buy23
Hold2
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $4.31B | +54.3% | $28.88 | +126.5% | 42.0× | 9 |
| FY2027 | $6.32B | +46.8% | $44.46 | +54.0% | 27.2× | 9 |
| FY2028 | $7.82B | +23.7% | $55.34 | +24.5% | 21.9× | 6 |
| FY2029 | $9.54B | +22.0% | $70.06 | +26.6% | 17.3× | 3 |
| FY2030 | $10.5B | +10.5% | $75.13 | +7.2% | 16.1× | 2 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 225 figures Monolithic Power Systems, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $182M | $130M | +40.3% | $138M | $103M | +34.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $344M | $195M | +76.4% | $256M | $173M | +48.2% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $484K | $2.12M | -77.1% | $4.1M | $20.1M | -79.6% |
| Accrued Income Taxes, Current | $35.6M | $36.7M | -3.1% | $8.06M2023-12-31 | $15.6M | -48.3% |
| Accrued Income Taxes, Noncurrent | $75M | $73.2M | +2.5% | $75M | $65.2M | +15.1% |
| Accrued Liabilities, Current | $222M | $172M | +28.9% | $145M | $128M | +13.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $305M2025-12-31 | $252M | +20.8% | $305M | $252M | +20.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $509K | -$23.7M | +102.1% | -$15.2M | -$48.5M | +68.8% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $53.2M | $60.1M | -11.5% | $227M | $206M | +10.6% |
| Assets | $4.69B | $3.87B | +21.0% | $4.19B | $3.52B | +19.3% |
| Assets, Current | $2.48B | $1.92B | +29.1% | $2.18B | $1.57B | +39.5% |
| Assets, Fair Value Disclosure | $722M | $800M | -9.7% | $362M | $248M | +45.9% |
| Capital Expenditures Incurred but Not yet Paid | $16M | -$8.5M | +287.7% | $14.5M | $22.3M | -34.9% |
| Cash | $772M | $415M | +86.0% | $970M | $680M | +42.6% |
| Cash and Cash Equivalents, at Carrying Value | $1.01B | $787M | +27.7% | $1.1B | $692M | +58.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $1.01B | $788M | +27.7% | $1.1B | $692M | +58.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$57.3M | $150M | -138.2% | $408M | $131M | +211.7% |
| Certificates of Deposit, at Carrying Value | $309M | $181M | +70.4% | $157M | $164M | -4.4% |
| Common Stock, Dividends, Per Share, Declared | $2.00 | $1.56 | +28.2% | $6.24 | $5.00 | +24.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 150M | 150M | 0.0% | 150M | 150M | 0.0% |
| Common Stock, Shares, Issued | 49.1M | 47.9M | +2.6% | 48.7M | 47.8M | +1.9% |
| Common Stock, Shares, Outstanding | 49.1M | 47.9M | +2.6% | 48.7M | 47.8M | +1.9% |
| Common Stocks, Including Additional Paid in Capital | $1.03B | $823M | +25.6% | $937M | $707M | +32.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $268M | $155M | +73.3% | $655M | $1.57B | -58.3% |
| Cost of Revenue | $440M | $299M | +47.2% | $1.25B | $986M | +26.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $19.4M | $72.6M | -73.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $84.3M | $11.2M | +655.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.35M | $348K | +286.5% |
| Debt Securities, Available-for-sale | $688M2025-09-30 | $1.05B | -34.4% | $183M2024-12-31 | $717M | -74.4% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $8K2025-09-30 | $515K | -98.4% | $02024-12-31 | $331K | -100.0% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $1K2025-09-30 | $305K | -99.7% | $69K2024-12-31 | $1.64M | -95.8% |
| Debt Securities, Available-for-sale, Amortized Cost | $688M2025-09-30 | $1.05B | -34.4% | $183M2024-12-31 | $718M | -74.5% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $25K | $75K | -66.7% | $50K | $150K | -66.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $103M | $97.7M | +5.5% | $100M | $0 | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $305M | $261M | +16.9% | $57.2M | $171M | -66.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $74K2025-09-30 | $19.3M | -99.6% | $6.86M2024-12-31 | $71.4M | -90.4% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $1K2025-09-30 | $290K | -99.7% | $69K2024-12-31 | $1.53M | -95.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | – | – | – | $02024-12-31 | $118M | -100.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | – | – | – | $02024-12-31 | $114K | -100.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $25K | $74K | -66.2% | $49K | $148K | -66.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $103M | $97.7M | +5.5% | $100M | $0 | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $305M | $261M | +16.9% | $57.2M | $171M | -66.6% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | $408M | $359M | +13.8% | $157M | $171M | -8.2% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $408M | $359M | +13.8% | $157M | $171M | -8.2% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | – | – | – | $6.86M2024-12-31 | $190M | -96.4% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | – | – | – | $69K2024-12-31 | $1.64M | -95.8% |
| Deferred Compensation Liability, Classified, Noncurrent | $106M | $94.6M | +12.1% | $104M | $93.7M | +11.0% |
| Deferred Compensation Liability, Current and Noncurrent | $113M | $98.1M | +15.0% | $108M | $96M | +12.2% |
| Deferred Compensation Plan Assets | $115M | $97.8M | +17.9% | $107M | $92.6M | +15.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$314K | $2.77M | -111.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $40.2M | -$1.11B | +103.6% |
| Deferred Income Tax Assets, Net | $1.18B | $1.21B | -2.2% | $1.18B | $1.23B | -3.5% |
| Deferred Income Tax Expense (Benefit) | $27K | $7.33M | -99.6% | $39.7M | -$1.11B | +103.6% |
| Deferred Income Tax Liabilities, Net | $90.3M | $92.2M | -2.0% | $90.5M | $93.4M | -3.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$212K | $160K | -232.5% |
| Deferred Tax Assets, Gross | $4.71B2025-12-31 | $4.74B | -0.6% | $4.71B | $4.74B | -0.6% |
| Deferred Tax Assets, Net | $1.09B2025-12-31 | $1.13B | -3.5% | $1.09B | $1.13B | -3.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $1.1B2025-12-31 | $1.14B | -3.4% | $1.1B | $1.14B | -3.4% |
| Deferred Tax Assets, Property, Plant and Equipment | $3.48B2025-12-31 | $3.47B | +0.5% | $3.48B | $3.47B | +0.5% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02