Monolithic Power Systems Inc
NASDAQ: MPWR · TECHNOLOGY · SEMICONDUCTORS
Updated 2026-06-05
Monolithic Power Systems Inc (MPWR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105.02M | $134.00M | $160.51M | $165.01M | $218.84M | $196.52M | $213.81M | $238.09M | $282.54M | $333.07M | $388.67M | $470.93M | $582.38M | $627.92M | $844.45M | $1.21B | $1.79B | $1.82B | $2.21B | $2.79B |
| Revenue growth (YoY) | — | +27.6% | +19.8% | +2.8% | +32.6% | -10.2% | +8.8% | +11.4% | +18.7% | +17.9% | +16.7% | +21.2% | +23.7% | +7.8% | +34.5% | +43.0% | +48.5% | +1.5% | +21.2% | +26.4% |
| Cost of revenue | $38.11M | $48.78M | $61.18M | $67.33M | $97.38M | $94.92M | $100.67M | $110.19M | $129.92M | $152.90M | $177.79M | $212.65M | $259.71M | $281.60M | $378.50M | $522.34M | $745.60M | $799.95M | $986.23M | $1.25B |
| Gross profit | $66.91M | $85.22M | $99.33M | $97.68M | $121.46M | $101.59M | $113.15M | $127.90M | $152.62M | $180.17M | $210.87M | $258.28M | $322.67M | $346.32M | $465.95M | $685.46M | $1.05B | $1.02B | $1.22B | $1.54B |
| Gross margin | 63.7% | 63.6% | 61.9% | 59.2% | 55.5% | 51.7% | 52.9% | 53.7% | 54.0% | 54.1% | 54.3% | 54.8% | 55.4% | 55.2% | 55.2% | 56.8% | 58.4% | 56.1% | 55.3% | 55.2% |
| R&D | $22.30M | $27.34M | $34.85M | $38.30M | $44.37M | $44.52M | $48.80M | $49.73M | $58.59M | $65.79M | $73.64M | $82.36M | $93.45M | $107.76M | $137.60M | $190.63M | $240.17M | $263.64M | $324.75M | $382.26M |
| SG&A | $27.59M | $29.54M | $35.26M | $39.85M | $46.59M | $40.28M | $50.02M | $54.62M | $66.75M | $72.31M | $83.01M | $97.26M | $113.80M | $133.54M | $161.67M | $226.19M | $273.60M | $266.89M | $356.76M | $428.84M |
| Operating income | $1.24M | $9.67M | $22.51M | $19.53M | $30.50M | $13.42M | $17.28M | $23.91M | $35.30M | $41.07M | $54.45M | $77.42M | $113.49M | $102.56M | $158.88M | $262.42M | $526.78M | $481.74M | $539.36M | $728.64M |
| Operating margin | 1.2% | 7.2% | 14.0% | 11.8% | 13.9% | 6.8% | 8.1% | 10.0% | 12.5% | 12.3% | 14.0% | 16.4% | 19.5% | 16.3% | 18.8% | 21.7% | 29.4% | 26.5% | 24.4% | 26.1% |
| EBITDA | $15.48M | $13.85M | $28.23M | $26.10M | $43.93M | $25.53M | $23.67M | $35.70M | $40.40M | $55.85M | $68.89M | $94.77M | $127.72M | $119.89M | $185.87M | $291.12M | $563.90M | $521.90M | $575.79M | $817.24M |
| EBITDA margin | 14.7% | 10.3% | 17.6% | 15.8% | 20.1% | 13.0% | 11.1% | 15.0% | 14.3% | 16.8% | 17.7% | 20.1% | 21.9% | 19.1% | 22.0% | 24.1% | 31.4% | 28.7% | 26.1% | 29.3% |
| EBIT | $1.24M | $9.67M | $22.51M | $19.53M | $35.92M | $16.80M | $14.33M | $23.54M | $27.27M | $42.07M | $54.22M | $78.67M | $115.41M | $105.03M | $166.69M | $262.42M | $526.78M | $481.74M | $539.36M | $766.22M |
| Interest expense | $273000.00 | $0.00 | $652000.00 | $429000.00 | $234000.00 | $362000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $20.50M | $14.04M | $26.05M | $14.37M | — | — | — |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-2.86M | $9.29M | $24.23M | $19.67M | $29.56M | $13.30M | $15.76M | $22.90M | $35.49M | $35.17M | $52.72M | $65.20M | $105.27M | $108.84M | $164.38M | $242.02M | $437.67M | $427.37M | $1.79B | $615.93M |
| Net income growth (YoY) | — | +424.5% | +160.7% | -18.8% | +50.3% | -55.0% | +18.5% | +45.3% | +55.0% | -0.9% | +49.9% | +23.7% | +61.4% | +3.4% | +51.0% | +47.2% | +80.8% | -2.4% | +318.1% | -65.5% |
| Profit margin | -2.7% | 6.9% | 15.1% | 11.9% | 13.5% | 6.8% | 7.4% | 9.6% | 12.6% | 10.6% | 13.6% | 13.8% | 18.1% | 17.3% | 19.5% | 20.0% | 24.4% | 23.5% | 81.0% | 22.1% |
Frequently asked questions
What is Monolithic Power Systems Inc's revenue?
Monolithic Power Systems Inc's trailing twelve-month revenue is $2.96B, and consensus projects about $11.68B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is MPWR?
In its most recent fiscal year, MPWR ran a gross margin of 55.18%, an operating margin of 26.11%, and a net margin of 22.07%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does MPWR generate?
MPWR produced $666.19M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is MPWR's balance sheet healthy?
MPWR holds $1.10B in cash and equivalents against — in long-term debt, on $3.53B of shareholder equity. That debt is best read against the cash flow the business throws off each year.