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Monolithic Power Financials

MPWR
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Monolithic Power (MPWR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 82 / 100
Financial Profile 82/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
80

Monolithic Power has an operating margin of 26.1%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 80/100, reflecting efficient cost management and pricing power. This is up from 24.4% the prior year.

Growth
77

Monolithic Power's revenue surged 26.4% year-over-year to $2.8B, reflecting rapid business expansion. This strong growth earns a score of 77/100.

Leverage
98

Monolithic Power carries a low D/E ratio of 0.19, meaning only $0.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 5.91, Monolithic Power holds $5.91 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
85

Monolithic Power converts 23.9% of revenue into free cash flow ($666.2M). This strong cash generation earns a score of 85/100.

Returns
50

Monolithic Power's ROE of 17.6% shows moderate profitability relative to equity, earning a score of 50/100. This is down from 53.9% the prior year.

Altman Z-Score Safe
51.25

Monolithic Power scores 51.25, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($53.7B) relative to total liabilities ($662.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Monolithic Power passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.35x

For every $1 of reported earnings, Monolithic Power generates $1.35 in operating cash flow ($838.2M OCF vs $621.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.8B
YoY+26.4%
5Y CAGR+27.0%
10Y CAGR+23.7%

Monolithic Power generated $2.8B in revenue in fiscal year 2025. This represents an increase of 26.4% from the prior year.

EBITDA
$781.1M
YoY+35.7%
5Y CAGR+34.4%
10Y CAGR+30.4%

Monolithic Power's EBITDA was $781.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.7% from the prior year.

Net Income
$621.5M
YoY-61.0%
5Y CAGR+30.5%
10Y CAGR+33.3%

Monolithic Power reported $621.5M in net income in fiscal year 2025. This represents a decrease of 61.0% from the prior year.

EPS (Diluted)
$12.86
YoY-60.6%
5Y CAGR+29.7%
10Y CAGR+31.1%

Monolithic Power earned $12.86 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 60.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$666.2M
YoY+3.7%
5Y CAGR+25.7%
10Y CAGR+28.6%

Monolithic Power generated $666.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 3.7% from the prior year.

Cash & Debt
$1.1B
YoY+58.9%
5Y CAGR+26.8%
10Y CAGR+28.3%

Monolithic Power held $1.1B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
$6.24
YoY+24.8%
5Y CAGR+25.6%
10Y CAGR+22.8%

Monolithic Power paid $6.24 per share in dividends in fiscal year 2025. This represents an increase of 24.8% from the prior year.

Shares Outstanding
49M
YoY+1.9%
5Y CAGR+1.5%
10Y CAGR+2.1%

Monolithic Power had 49M shares outstanding in fiscal year 2025. This represents an increase of 1.9% from the prior year.

Margins & Returns

Gross Margin
55.2%
YoY-0.1pp
5Y CAGR+0.0pp
10Y CAGR+1.1pp

Monolithic Power's gross margin was 55.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.

Operating Margin
26.1%
YoY+1.7pp
5Y CAGR+7.3pp
10Y CAGR+13.8pp

Monolithic Power's operating margin was 26.1% in fiscal year 2025, reflecting core business profitability. This is up 1.7 percentage points from the prior year.

Net Margin
22.3%
YoY-49.9pp
5Y CAGR+2.8pp
10Y CAGR+11.7pp

Monolithic Power's net profit margin was 22.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 49.9 percentage points from the prior year.

Return on Equity
17.6%
YoY-36.4pp
5Y CAGR+0.6pp
10Y CAGR+8.1pp

Monolithic Power's ROE was 17.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 36.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$382.3M
YoY+17.7%
5Y CAGR+22.7%
10Y CAGR+19.2%

Monolithic Power invested $382.3M in research and development in fiscal year 2025. This represents an increase of 17.7% from the prior year.

Share Buybacks
$6.6M
YoY-99.0%
10Y CAGR-14.7%

Monolithic Power spent $6.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.0% from the prior year.

Capital Expenditures
$172.0M
YoY+17.7%
5Y CAGR+25.3%
10Y CAGR+26.8%

Monolithic Power invested $172.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 17.7% from the prior year.

MPWR Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $751.2M+1.9% $737.2M+10.9% $664.6M+4.2% $637.6M+2.6% $621.7M+0.2% $620.1M+22.2% $507.4M+10.8% $457.9M
Cost of Revenue $336.9M+1.8% $330.9M+10.8% $298.6M+5.0% $284.3M+2.5% $277.3M+0.2% $276.7M+22.0% $226.9M+10.4% $205.4M
Gross Profit $414.3M+2.0% $406.2M+11.0% $366.0M+3.6% $353.2M+2.6% $344.4M+0.3% $343.4M+22.4% $280.6M+11.1% $252.4M
R&D Expenses $95.6M-2.6% $98.2M+2.0% $96.3M+4.4% $92.2M+7.5% $85.8M+0.8% $85.1M+9.1% $77.9M+2.6% $76.0M
SG&A Expenses $118.7M+5.2% $112.9M+7.5% $105.0M+13.8% $92.2M-3.2% $95.3M+1.0% $94.4M+9.6% $86.1M+6.3% $81.0M
Operating Income $199.9M+2.4% $195.2M+18.5% $164.8M-2.4% $168.8M+3.3% $163.3M-0.4% $164.0M+40.8% $116.5M+22.0% $95.5M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $38.1M+47.7% $25.8M-38.5% $42.0M+8.1% $38.8M+103.6% -$1.1B-3732.3% $29.9M+26.2% $23.7M+89.7% $12.5M
Net Income $171.7M-4.5% $179.8M+33.2% $135.0M0.0% $135.1M-89.2% $1.3B+768.7% $144.4M+43.9% $100.4M+8.5% $92.5M
EPS (Diluted) N/A $3.74+33.1% $2.810.0% $2.81 N/A $2.95+43.9% $2.05+8.5% $1.89

MPWR Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $4.2B+2.1% $4.1B+6.1% $3.9B+4.5% $3.7B+5.4% $3.5B+23.2% $2.9B+7.8% $2.6B+2.7% $2.6B
Current Assets $2.2B+3.4% $2.1B+10.1% $1.9B+7.3% $1.8B+14.3% $1.6B-27.6% $2.2B+8.2% $2.0B+1.1% $2.0B
Cash & Equivalents $1.1B+1.7% $1.1B+37.3% $787.4M+23.5% $637.4M-7.9% $691.8M-1.2% $700.3M+27.2% $550.5M+12.7% $488.3M
Inventory $564.6M+11.7% $505.7M+3.1% $490.6M+7.9% $454.8M+8.4% $419.6M-1.3% $424.9M-0.4% $426.8M+7.8% $396.0M
Accounts Receivable $255.6M+5.8% $241.6M+24.0% $194.8M-9.3% $214.9M+24.5% $172.5M+4.7% $164.7M+4.3% $157.9M-18.8% $194.4M
Goodwill $25.9M0.0% $25.9M0.0% $25.9M0.0% $25.9M0.0% $25.9M-0.5% $26.1M0.0% $26.1M-4.5% $27.3M
Total Liabilities $662.7M-9.2% $729.9M+10.2% $662.3M+4.9% $631.5M+11.8% $564.7M+12.3% $503.1M+11.2% $452.3M-2.8% $465.1M
Current Liabilities $369.4M-16.6% $442.8M+15.5% $383.5M+5.5% $363.4M+23.4% $294.6M-12.5% $336.6M+14.0% $295.2M-5.4% $311.9M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $3.5B+4.6% $3.4B+5.2% $3.2B+4.4% $3.1B+4.2% $3.0B+25.5% $2.4B+7.1% $2.2B+3.9% $2.1B
Retained Earnings $2.6B+3.8% $2.5B+4.3% $2.4B+2.5% $2.4B+2.6% $2.3B+108.7% $1.1B+8.1% $1.0B+3.9% $977.7M

MPWR Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $104.9M-56.2% $239.3M+0.7% $237.6M-7.3% $256.4M+52.9% $167.7M-27.6% $231.7M+64.4% $141.0M-43.2% $248.1M
Capital Expenditures $41.0M-3.5% $42.5M-11.7% $48.1M+19.3% $40.3M-37.7% $64.8M+91.6% $33.8M+7.3% $31.5M+97.0% $16.0M
Free Cash Flow $63.9M-67.5% $196.8M+3.8% $189.5M-12.3% $216.0M+110.0% $102.9M-48.0% $197.9M+80.8% $109.5M-52.8% $232.1M
Investing Cash Flow -$11.6M-109.1% $127.6M+907.5% -$15.8M+93.9% -$257.5M-149.6% $519.2M+2040.0% -$26.8M-698.6% -$3.4M+98.7% -$266.0M
Financing Cash Flow -$77.3M-5.5% -$73.2M+7.8% -$79.4M-42.0% -$55.9M+91.8% -$685.4M-984.2% -$63.2M+14.2% -$73.6M-47.3% -$50.0M
Dividends Paid $74.8M-1.5% $75.9M0.0% $75.9M+26.5% $60.0M-3.0% $61.9M0.0% $61.9M0.0% $61.9M+24.9% $49.6M
Share Buybacks $1.9M-9.5% $2.1M-19.2% $2.6M $0-100.0% $622.0M+11209.1% $5.5M+22.2% $4.5M+10.4% $4.1M

MPWR Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 55.1%+0.0pp 55.1%+0.0pp 55.1%-0.3pp 55.4%0.0pp 55.4%+0.0pp 55.4%+0.1pp 55.3%+0.2pp 55.1%
Operating Margin 26.6%+0.1pp 26.5%+1.7pp 24.8%-1.7pp 26.5%+0.2pp 26.3%-0.2pp 26.5%+3.5pp 23.0%+2.1pp 20.8%
Net Margin 22.9%-1.5pp 24.4%+4.1pp 20.3%-0.9pp 21.2%-180.7pp 201.8%+178.5pp 23.3%+3.5pp 19.8%-0.4pp 20.2%
Return on Equity 4.9%-0.5pp 5.3%+1.1pp 4.2%-0.2pp 4.4%-38.1pp 42.5%+36.4pp 6.1%+1.6pp 4.6%+0.2pp 4.4%
Return on Assets 4.1%-0.3pp 4.4%+0.9pp 3.5%-0.2pp 3.6%-32.0pp 35.7%+30.6pp 5.1%+1.3pp 3.8%+0.2pp 3.6%
Current Ratio 5.91+1.1 4.77-0.2 5.00+0.1 4.92-0.4 5.31-1.1 6.42-0.3 6.77+0.4 6.34
Debt-to-Equity 0.19-0.0 0.220.0 0.210.0 0.21+0.0 0.19-0.0 0.210.0 0.21-0.0 0.22
FCF Margin 8.5%-18.2pp 26.7%-1.8pp 28.5%-5.4pp 33.9%+17.3pp 16.6%-15.4pp 31.9%+10.3pp 21.6%-29.1pp 50.7%

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Frequently Asked Questions

Monolithic Power (MPWR) reported $2.8B in total revenue for fiscal year 2025. This represents a 26.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Monolithic Power (MPWR) revenue grew by 26.4% year-over-year, from $2.2B to $2.8B in fiscal year 2025.

Yes, Monolithic Power (MPWR) reported a net income of $621.5M in fiscal year 2025, with a net profit margin of 22.3%.

Monolithic Power (MPWR) reported diluted earnings per share of $12.86 for fiscal year 2025. This represents a -60.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Monolithic Power (MPWR) had EBITDA of $781.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Monolithic Power (MPWR) had a gross margin of 55.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Monolithic Power (MPWR) had an operating margin of 26.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Monolithic Power (MPWR) had a net profit margin of 22.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Monolithic Power (MPWR) paid $6.24 per share in dividends during fiscal year 2025.

Monolithic Power (MPWR) has a return on equity of 17.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Monolithic Power (MPWR) generated $666.2M in free cash flow during fiscal year 2025. This represents a 3.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Monolithic Power (MPWR) generated $838.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Monolithic Power (MPWR) had $4.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Monolithic Power (MPWR) invested $172.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Monolithic Power (MPWR) invested $382.3M in research and development during fiscal year 2025.

Yes, Monolithic Power (MPWR) spent $6.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Monolithic Power (MPWR) had 49M shares outstanding as of fiscal year 2025.

Monolithic Power (MPWR) had a current ratio of 5.91 as of fiscal year 2025, which is generally considered healthy.

Monolithic Power (MPWR) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Monolithic Power (MPWR) had a return on assets of 14.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Monolithic Power (MPWR) has an Altman Z-Score of 51.25, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Monolithic Power (MPWR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Monolithic Power (MPWR) has an earnings quality ratio of 1.35x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Monolithic Power (MPWR) scores 82 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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