Reading the tape
NASDAQ: MPWR
Monolithic Power Systems, Inc.
Technology · Semiconductors
Market Cap
$77.61B
52w High
$1,661.79
52w Low
$612.95
P/E
115.11
Volume
147.61K
Outstanding Shares
49.12M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inHigh confidence
1Y Price: 163.2%Revenue (TTM): 23.9%FCF (TTM): 3.41%P/FCF: 100th pct
What changed
The stock rose 163.2% over the last year. Revenue grew 23.9% over the trailing twelve months. Operating margin moved from 25.67% to 27.09%. Free cash flow grew 3.41% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (100th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 27.09% — continued expansion would be needed to justify the premium. Revenue growth of 23.9% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
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.
CEOMichael R. Hsing
SectorTechnology
IndustrySemiconductors
Employees4,017
IPO dateNov 19, 2004
Valuation
Forward P/E—
EV/EBITDA51.96
Enterprise value$42.46B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth26.14%
Gross margin55.18%▼0.25%vs FY2024
Operating margin27.09%▲6.85%vs FY2024
ROE17.44%▼69.29%vs FY2024
Analyst consensus
RatingBuy
Target price$1,615.00▲2.21%
22
Buy
3
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 30, 2026
Q3 FY26 · EPS est $5.80 · Revenue est $901.26M
View
Dividends
$6.68/shareQuarterlyDividend Achiever · 11yrSafeMPWR pays a dividend with a 0.42% dividend yield, 11 consecutive years of growth, growing at 26.04% annually, covered 2.3× by free cash flow.
Dividend Yield
0.42%
Annual Div / Share
$6.68
5yr CAGR
+26.04%
Doubles every ~3.0yr
Payout Ratio
42.17%
Safe
Dividend Growth Rate
3yr CAGR
+27.14%
5yr CAGR
+26.04%
10yr CAGR
+23.64%
Dividend Safety
9/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$6.68+25.8%
2024$5.31+24.9%
2023$4.25+30.8%
2022$3.25+27.5%
2021$2.55+21.4%
2020$2.10+23.5%
2019$1.70+30.8%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$4/yr
$0/mo
In 5 yrs
$7/yr+76%
$1/mo
In 10 yrs
$13/yr+211%
$1/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$4/yr $0/mo | $7/yr+76% $1/mo | $13/yr+211% $1/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 0.42% → 1.31% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
MPWR has raised its dividend for 11 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 2.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 26.04% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.
Congressional Activity
Congress Trades in MPWR
STOCK Act disclosures from senators and representatives.
Markwayne Mullin
OKsenateRepublicanPurchaseJoint2026-02-04$15,001 - $50,000+26d to discloseMarkwayne Mullin
OKsenateRepublicanPurchaseSpouse2026-01-05$15,001 - $50,000+29d to discloseMarkwayne Mullin
OKsenateRepublicanPurchaseSelf2026-01-05$15,001 - $50,000+29d to disclose