MPWR

MKT CAP:$80B

Monolithic Power Systems, Inc.

Market Cap

$80B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$1,639.67+$703.36 (+75.12%)

Apr 24, 2026

Company Details

Monolithic Power Systems, Inc. engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the computing and storage, automotive, industrial, communications, and consumer markets. The compa...

CEO

Michael R. Hsing

IPO Date

Nov 19, 2004

Website

www.monolithicpower.com

Key Metrics TTM

Revenue

$2.8B

+26.4% YoY

Net Income

$616M

EPS (Diluted)

$12.74

Free Cash Flow

$664M

Revenue / Share

$56.75

Gross Margin

55.2%

Operating Margin

26.1%

Net Margin

22.1%

FCF Margin

23.8%

P/S

28.8x

P/E

130.6x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

Q4 2025

Feb 27, 2026

$751M+20.8%EPS $3.46

Q3 2025

Nov 5, 2025

$737M+18.9%EPS $3.71

Q2 2025

Aug 4, 2025

$665M+31.0%EPS $2.78

Q1 2025

May 5, 2025

$638M+39.2%EPS $2.79

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$378M	$219M	$96M
Q2 22	$461M	$271M	$142M
Q3 22	$495M	$291M	$152M
Q4 22	$460M	$268M	$137M
Q1 23	$451M	$259M	$124M
Q2 23	$441M	$248M	$112M
Q3 23	$475M	$264M	$136M
Q4 23	$454M	$251M	$110M
Q1 24	$458M	$252M	$95M
Q2 24	$507M	$281M	$117M
Q3 24	$620M	$343M	$164M
Q4 24	$622M	$344M	$163M
Q1 25	$638M	$353M	$169M
Q2 25	$665M	$366M	$165M
Q3 25	$737M	$406M	$195M
Q4 25	$751M	$414M	$200M

Valuation

Quarter	P/S	P/E
Q1 22	17.4x	84.0x
Q2 22	13.0x	58.0x
Q3 22	10.6x	45.3x
Q4 22	10.1x	41.4x
Q1 23	12.5x	50.0x
Q2 23	14.0x	57.3x
Q3 23	12.1x	49.0x
Q4 23	15.8x	67.2x
Q1 24	17.8x	79.4x
Q2 24	21.1x	97.2x
Q3 24	21.9x	102.9x
Q4 24	13.2x	16.3x
Q1 25	11.6x	15.2x
Q2 25	13.8x	18.8x
Q3 25	15.9x	22.4x
Q4 25	16.0x	72.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$107M	$81M
Q2 22	$105M	$93M
Q3 22	-$18M	-$25M
Q4 22	$52M	$39M
Q1 23	$219M	$210M
Q2 23	$90M	$82M
Q3 23	$176M	$149M
Q4 23	$153M	$140M
Q1 24	$248M	$232M
Q2 24	$141M	$109M
Q3 24	$232M	$198M
Q4 24	$168M	$103M
Q1 25	$256M	$216M
Q2 25	$238M	$187M
Q3 25	$239M	$199M
Q4 25	$105M	$62M

Capital Expenditures

Quarter	CapEx
Q1 22	$27M
Q2 22	$12M
Q3 22	$7M
Q4 22	$13M
Q1 23	$9M
Q2 23	$8M
Q3 23	$27M
Q4 23	$14M
Q1 24	$16M
Q2 24	$32M
Q3 24	$34M
Q4 24	$65M
Q1 25	$40M
Q2 25	$50M
Q3 25	$41M
Q4 25	$43M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+48.4%	+35.1%
Q2 22	+57.2%	+37.1%
Q3 22	+53.1%	+39.4%
Q4 22	+36.7%	+25.3%
Q1 23	+19.4%	+16.1%
Q2 23	-4.3%	+3.0%
Q3 23	-4.1%	-1.2%
Q4 23	-1.3%	+6.6%
Q1 24	+1.5%	+10.9%
Q2 24	+15.0%	+18.9%
Q3 24	+30.6%	+34.4%
Q4 24	+36.9%	+33.1%
Q1 25	+39.2%	+29.4%
Q2 25	+31.0%	+27.9%
Q3 25	+18.9%	+18.8%
Q4 25	+20.8%	+20.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$40M	10.5%
Q2 22	$43M	9.3%
Q3 22	$43M	8.7%
Q4 22	$35M	7.7%
Q1 23	$37M	8.2%
Q2 23	$38M	8.6%
Q3 23	$34M	7.1%
Q4 23	$41M	9.1%
Q1 24	$46M	10.0%
Q2 24	$52M	10.3%
Q3 24	$51M	8.3%
Q4 24	$56M	9.0%
Q1 25	$53M	8.3%
Q2 25	$60M	9.0%
Q3 25	-$121M	-16.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$54M	$69M
Q2 22	$57M	$72M
Q3 22	$67M	$72M
Q4 22	$62M	$66M
Q1 23	$64M	$71M
Q2 23	$64M	$72M
Q3 23	$65M	$63M
Q4 23	$71M	$70M
Q1 24	$76M	$81M
Q2 24	$78M	$86M
Q3 24	$85M	$94M
Q4 24	$86M	$95M
Q1 25	$92M	$92M
Q2 25	$96M	$105M
Q3 25	$98M	$113M
Q4 25	$96M	$119M

Revenue Segments

Quarter	DC To DC Products	Lighting Control Products
Q1 22	$359M	$19M
Q2 22	$442M	$19M
Q3 22	$463M	$32M
Q4 22	$433M	$27M
Q1 23	$425M	$26M
Q2 23	$418M	$23M
Q3 23	$447M	$27M
Q4 23	$428M	$26M
Q1 24	$416M	$42M
Q2 24	$501M	$6M
Q3 24	$616M	$4M

Revenue by Geography

Quarter	China	Europe	Japan	Korea, Republic Of	Other Region	South East Asia	Taiwan, Province Of China	United States
Q1 22	$206M	$25M	$19M	$40M	$120.0K	$17M	$56M	$13M
Q2 22	$250M	$31M	$22M	$43M	$110.0K	$21M	$70M	$24M
Q3 22	$265M	$45M	$22M	$53M	$125.0K	$26M	$59M	$25M
Q4 22	$218M	$44M	$27M	$53M	$154.0K	$31M	$48M	$37M
Q1 23	$225M	$43M	$31M	$46M	$133.0K	$26M	$49M	$31M
Q2 23	$216M	$36M	$28M	$41M	$160.0K	$22M	$70M	$28M
Q3 23	$235M	$30M	$19M	$42M	$173.0K	$23M	$104M	$24M
Q4 23	$259M	$23M	$16M	$42M	$68.0K	$14M	$85M	$15M
Q1 24	$263M	$18M	$13M	$36M	$109.0K	$13M	$100M	$15M
Q2 24	$283M	$19M	$14M	$40M	$72.0K	$11M	$127M	$14M
Q3 24	$310M	$25M	$16M	$52M	$85.0K	$23M	$180M	$14M
Q4 24	$322M	$25M	$19M	$41M	$44.0K	$31M	$170M	$13M
Q1 25	$364M	$25M	$20M	$64M	$81.0K	$33M	$116M	$15M
Q2 25	$398M	$26M	$19M	$64M	$125.0K	$35M	$105M	$18M
Q3 25	$394M	$34M	$22M	$63M	$163.0K	$39M	$156M	$30M
Q4 25	$389M	$28M	$24M	$62M	$115.0K	$42M	$173M	$33M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$261M	$513M	$774M
Q2 22	$343M	$469M	$812M
Q3 22	$316M	$420M	$736M
Q4 22	$289M	$449M	$738M
Q1 23	$489M	$429M	$918M
Q2 23	$507M	$434M	$940M
Q3 23	$421M	$621M	$1.0B
Q4 23	$528M	$581M	$1.1B
Q1 24	$488M	$798M	$1.3B
Q2 24	$550M	$757M	$1.3B
Q3 24	$700M	$762M	$1.5B
Q4 24	$692M	$171M	$863M
Q1 25	$637M	$389M	$1.0B
Q2 25	$787M	$359M	$1.1B
Q3 25	$1.1B	$188M	$1.3B
Q4 25	$1.1B	$157M	$1.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	48M	+0.0%	+1.1%
Q2 22	48M	+0.1%	+1.1%
Q3 22	48M	+0.1%	+1.0%
Q4 22	49M	+0.4%	+0.6%
Q1 23	49M	+0.2%	+0.8%
Q2 23	49M	+0.2%	+1.0%
Q3 23	49M	+0.1%	+0.9%
Q4 23	49M	+0.2%	+0.7%
Q1 24	49M	+0.1%	+0.6%
Q2 24	49M	+0.0%	+0.4%
Q3 24	49M	+0.0%	+0.4%
Q4 24	49M	-0.9%	-0.8%
Q1 25	48M	-1.0%	-1.9%
Q2 25	48M	+0.0%	-1.9%
Q3 25	48M	+0.1%	-1.9%
Q4 25	49M	+2.3%	+1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$136.2K	3K
Q2 22	$166.2K	3K
Q3 22	$178.7K	3K
Q4 22	$141.7K	3K
Q1 23	$138.9K	3K
Q2 23	$135.9K	3K
Q3 23	$146.2K	3K
Q4 23	$127.4K	4K
Q1 24	$128.5K	4K
Q2 24	$142.4K	4K
Q3 24	$174.0K	4K
Q4 24	$154.8K	4K
Q1 25	$158.7K	4K
Q2 25	$165.4K	4K
Q3 25	$183.5K	4K
Q4 25	$166.9K	5K

Revenue / Employee