MONOLITHIC POWER SYSTEMS INC Earnings Per Share Disclosure
11. NET INCOME PER SHARE
The following table sets forth the computation of basic and diluted net income per share for the periods presented (in thousands, except per share amounts):
| Year Ended December 31, | ||||||||||||
| 2025 | 2024 (As Restated) | 2023 | ||||||||||
| Numerator: | ||||||||||||
| Net income | $ | 621,483 | $ | 1,592,058 | $ | 427,374 | ||||||
| Denominator: | ||||||||||||
| Weighted-average outstanding shares—basic | 48,035 | 48,599 | 47,610 | |||||||||
| Effect of dilutive securities | 274 | 236 | 1,161 | |||||||||
| Weighted-average outstanding shares—diluted | 48,309 | 48,835 | 48,771 | |||||||||
| Net income per share: | ||||||||||||
| Basic | $ | 12.94 | $ | 32.76 | $ | 8.98 | ||||||
| Diluted | $ | 12.86 | $ | 32.60 | $ | 8.76 | ||||||
Anti-dilutive common stock equivalents were not material for the periods presented.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Mar 1, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.