MONOLITHIC POWER SYSTEMS INC

Listed Company

MPWRCIK 0001280452NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.79B

Net Income

$621.48M

Total Assets

$4.19B

Equity

$3.53B

Shares Out

49.12M

Op. Cash Flow

$838.20M

Business

Monolithic Power Systems Inc is a fabless global company that provides high-performance, semiconductor-based power electronics solutions for a broad set of electronic systems. It offers integrated power management ICs and related products, including DC-to-DC and AC-to-DC converters, driver MOSFETs, power management ICs, current limit switches and lighting control products. Its operations center on design and R&D, proprietary process and packaging technologies, and a fabless manufacturing model with foundry and assembly partners alongside applications engineering and sales functions. MPS serves enterprise data, storage and computing, automotive, communications, consumer and industrial markets through technical sales, third-party distributors, value-added resellers and direct OEM/ODM channels across Asia, Europe and the U.S.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,790	2,207	1,821	1,794	1,208
Cost of revenue	1,251	986	800	746	522
Gross profit	1,540	1,221	1,021	1,049	685
Research and development	382	325	264	240	191
Selling, general and administrative	429	357	276	282	232
Total operating expenses	811	682	539	522	423
Operating income	729	539	482	527	262
Other income, net	38	34	24	−2	10
Income before income taxes	766	573	506	525	272
Income tax expense (benefit), net	145	−1,019	78	87	30
Net income	621	1,592	427	438	242
Basic (in dollars per share)	12.94	32.76	8.98	9.37	5.28
Diluted (in dollars per share)	12.86	32.6	8.76	9.05	5.05
Basic (in shares)	48	49	48	47	46
Diluted (in shares)	48	49	49	48	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31
Cash and cash equivalents	1,099	1,081	787	637	692
Short-term investments	157	188	359	389	171
Accounts receivable, net	256	242	195	215	173
Inventories	565	506	491	455	420
Other current assets	107	96	87	92	110
Total current assets	2,184	2,113	1,919	1,788	1,565
Property and equipment, net	628	597	564	527	495
Acquisition-related intangible assets, net	9	9	9	10	10
Goodwill	26	26	26	26	26
Deferred tax assets, net	1,183	1,201	1,210	1,218	1,226
Other Assets, Noncurrent	165	161	144	136	194
Total assets	4,194	4,107	3,872	3,705	3,516
Accounts payable	138	142	130	127	103
Accrued compensation and related benefits	86	100	81	75	64
Accrued Liabilities, Current	145	202	172	161	128
Total current liabilities	369	443	384	363	295
Income tax liabilities	75	78	73	70	65
Deferred tax liabilities	90	91	92	93	93
Other Liabilities, Noncurrent	128	117	113	106	112
Total liabilities	663	730	662	632	565
Commitments and contingencies (Note 14)	—	—	—	—	—
Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 48,709 and 47,823, respectively	937	885	823	765	707
Retained earnings	2,610	2,515	2,411	2,352	2,293
Accumulated other comprehensive loss	−15	−23	−24	−43	−49
Total stockholders equity	3,531	3,377	3,210	3,074	2,951
Total liabilities and stockholders equity	4,194	4,107	3,872	3,705	3,516

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	53	36	40	37	29
Amortization of discount on available-for-sale securities	−4	−20	−5	4	5
Gain on deferred compensation plan investments	−10	−9	−9	7	−5
Deferred taxes, net	40	−1,108	6	−13	−3
Stock-based compensation expense	227	206	150	161	123
Other	−737,000	28,000	−1	97,000	110,000
Accounts receivable	−83	7	3	−78	−38
Inventories	−145	−35	64	−188	−102
Other assets	60	55	−24	−177	−15
Accounts payable	41	23	5	−11	33
Accrued compensation and related benefits	20	9	−31	29	17
Income tax liabilities	2	13	−308,000	17	12
Other accrued liabilities	17	20	15	22	23
Net cash provided by operating activities	838	788	638	247	320
Purchases of property and equipment	−172	−146	−58	−59	−94
Purchases of intangible assets	−3	−18	0	0	—
Purchases of investments	−397	−1,083	−583	−66	−395
Maturities and sales of investments	420	1,508	468	129	114
Cash paid for acquisition, net of cash acquired	0	−33	0	0	—
Contributions to deferred compensation plan	−4	−5	−7	−16	−3
Net cash provided by (used in) investing activities	−157	223	−179	−13	−379
Property and equipment purchased on extended payment terms	−3	−4	−3	−2	−3
Proceeds from common stock issued	9	9	9	6	5
Repurchases of common stock	−8	−636	−4	—	—
Dividends and dividend equivalents paid	−285	−241	−186	−138	−109
Net cash used in financing activities	−286	−872	−184	−129	−90
Net increase in cash, cash equivalents and restricted cash	408	131	272	99	−146
Effect of change in exchange rates	13	−8	−3	−6	3
Cash paid for income taxes, net	95	80	85	85	21
Liability accrued for property and equipment purchases	15	22	2	6	18

Filings

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