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MONOLITHIC POWER SYSTEMS INCMPWR

Sector
Technology
Industry
Semiconductors & Related Devices
Exchange
Nasdaq

Stock Price $MPWR

Latest filings

You are here#46 of 67 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K92

MPWR filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 92 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jun ’20Jun ’20
  2. Leadership change8-K · Feb ’23Feb ’23
  3. FY2024 annual report10-K · Mar ’25Mar ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $2.79B
YoY changeLargest recent move+48.5%in FY22Latest +26.4%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All MPWR Financial Metrics56 metrics

Income Statement15

Balance Sheet23

Cash Flow13

Per Share5

02—Overview

MONOLITHIC POWER SYSTEMS INC Financial Overview 2021–2025

Updated Jul 10, 2026

Monolithic Power Systems (MPWR) saw its enterprise data revenue explode by 121.8%a in FY2024, fueled directly by demand for AI power management solutions. This structural shift in end-market demand has transformed the semiconductor firm from a broad-based component supplier into a high-leverage AI infrastructure play, cementing its central investment thesis.

The company’s top-line trajectory underscores this rapid evolution, as total revenue grew from $1.21 billion in FY2021 to $2.8 billionb in FY2025. While expanding total sales by 26.4% in FY2025, MPWR maintained a resilient 55.2% gross margin, effectively absorbing higher warranty and inventory costs. However, growth has not been completely seamless. A non-cash accounting error tied to a deferred foreign tax incentive forced a restatement for FY2024 and early 2025, triggering a material weakness in internal controls. Despite these back-office missteps, management aggressively returned capital, executing a $500 million stock repurchase program and hiking the quarterly dividend to $2.00 per share in early 2026.

The market has richly rewarded this strategic pivot. At the close of FY2025, MPWR commanded a $44.1 billionc market cap, with the stock finishing the year at $906.36. Trading at a premium 70.5x earnings multiple, investors are aggressively pricing in the continued scaling of data center infrastructure while looking past the company's recent accounting turbulence.

Recent Developments (Q4 2025 and Q1 2026)

In Q1 2026, MPWR posted total revenue of $804.2 milliond, a 26.1% year-over-year increase. The enterprise data sector drove this expansion, jumping 97.7% year-over-year to $262.8 million on AI and server demand. Operating income grew 42.9% to $241.2 million, and gross margins held at 55.3%. Concurrently, the company initiated a leadership transition following the retirement of CFO Bernie Blegen, appointing Rob Dean as interim CFO.

Bulls argue the 43.1% year-over-year increase in Q1 2026 net income to $193.2 millione confirms strong operational leverage. Bears contend the valuation leaves no margin for error, with shares trading at a 122.3x earnings multiple and a $76.6 billion market cap as of May 4, 2026.

What to watch: the permanent appointment of a new CFO; sequential revenue growth in the enterprise data segment.

03—Filings

Recent SEC Filings

  1. 8-KMONOLITHIC POWER SYSTEMS INC 8-K Report, Corporate Update (Sep 10, 2026)Monolithic Power Systems Inc. (MPWR) has announced its third-quarter cash dividend through a press release filed on September 10, 2026. This filing is primarily an "Other Events" disclosure (Item 8.01) that confirms the company's commitment to returning value to shareholders. The dividend amount remains substantial at $2.00 per share, indicating continued financial health and confidence from management in the company's performance.
  2. 8-KMONOLITHIC POWER SYSTEMS INC 8-K Report, Financial Results (Jul 30, 2026)Monolithic Power Systems, Inc. (MPWR) has filed an 8-K report on July 30, 2026, announcing its financial results for the fiscal quarter ended June 30, 2026. The company issued a press release detailing these results, which is incorporated by reference into this filing. Investors should refer to the attached press release (Exhibit 99.1) for the specific financial performance metrics and operational highlights for the second quarter of 2026. This filing serves as a notification of the earnings release and provides access to the detailed financial information.
  3. 8-KMONOLITHIC POWER SYSTEMS INC 8-K Report, Shareholder Vote Results (Jun 12, 2026)Monolithic Power Systems, Inc. (MPWR) filed an 8-K on June 12, 2026, detailing the outcomes of its 2026 annual meeting of stockholders and announcing a quarterly cash dividend. Key among the stockholder meeting results was the overwhelming election of two Class I directors and the ratification of Ernst & Young LLP as the independent auditor for the fiscal year ending December 31, 2026. The advisory vote on executive compensation for 2025 was also approved by a significant majority of shareholders. Furthermore, the company announced its second quarter cash dividend of $2.00 per share, payable on July 15, 2026, to stockholders of record as of June 30, 2026. This dividend payment underscores the company's ongoing commitment to returning value to its shareholders. Investors should note the strong support for the company's leadership and governance, as evidenced by the voting results at the annual meeting.
  4. 8-KMONOLITHIC POWER SYSTEMS INC 8-K Report, Financial Results (Apr 30, 2026)Monolithic Power Systems, Inc. (MPWR) filed an 8-K on April 30, 2026, to report its financial results for the first quarter ended March 31, 2026. The core of this filing is the press release (Exhibit 99.1) containing these results, which provides investors with an update on the company's performance. While the 8-K itself is procedural, the attached press release is the primary source of material information regarding MPWR's operational and financial outcomes for the period. Investors should refer to the press release for detailed financial figures, including revenue, profitability, and any forward-looking statements or guidance. This filing indicates the company is complying with its disclosure obligations by making these quarterly results publicly available. The lack of a specific headquarters address is noted as a compliance measure due to operations spanning multiple global locations.
  5. 8-KMONOLITHIC POWER SYSTEMS INC 8-K Report, Financial Restatement (Feb 27, 2026)Monolithic Power Systems, Inc. (MPWR) has filed an 8-K report on February 27, 2026, announcing that its previously issued financial statements for the fiscal year ended December 31, 2024, and interim periods in 2025, should no longer be relied upon. This is due to an unintentional error related to the accounting for deferred income taxes associated with a foreign jurisdiction's tax incentive. The company emphasizes that this is a non-cash error and does not impact key operational metrics such as revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income, and non-GAAP diluted net income per share. The restatement primarily affects the "income tax benefit, net" and "deferred income taxes," resulting in a decrease of $195 million for the year ended December 31, 2024. The company will file its 2025 Form 10-K shortly to include these restated financials.
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04—See also

Related Companies

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