olivLaw · US equity research
Monolithic Power Systems, Inc. MPWR
Semiconductors & Related Devices · SIC 3674 · Vertical: Semiconductors & Related Devices (SIC 3674)
Monolithic Power Systems is a fabless company that designs high-performance semiconductor power electronics for data centres, automotive, communications and industrial customers. The company reported revenue of 2.8 billion dollars in fiscal 2025 and kept growing into 2026, as demand for AI infrastructure expanded. Second-quarter 2026 revenue reached 980.6 million dollars.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Monolithic Power Systems, Inc. (MPWR) stock was 1,328.30 USD (+6.78% on the day), with market capitalisation 64.8 bn USD, P/E 73.2 on diluted EPS of 18.14 USD over the last 12 months, dividend yield 0.57%, beta 2.39, 52-week range 856.96–1,689.89 USD. Latest reported quarter (Q3 2026): revenue of 1.2 bn USD (+63.1% YoY), net income of 271.1 m USD (+50.8% YoY), diluted EPS 5.51 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 57.0
- strong (55–70)
- Bollinger (20, 2)
- 1,109.02 – 1,410.06
- in the upper half of the band · %B 0.73 · band width 23.9%
- SMA 50 / 200
- 1,274.11 / 1,318.89
- mixed trend
- MACD (12, 26, 9)
- -19.46 / -25.49
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.7% | −2.0% | −5.7 pp | — |
| 3 months | −0.5% | −2.2% | +1.7 pp | — |
| 6 months | −16.4% | +4.3% | −20.6 pp | — |
| Year to date | +46.6% | +10.6% | +36.0 pp | — |
| 1 year | +32.3% | +10.5% | +21.8 pp | +46.6% |
| 3 years | +169.5% | +73.7% | +95.8 pp | +104.6% |
| 5 years | +148.2% | +61.7% | +86.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 621.7 m | 637.6 m | 664.6 m | 737.2 m | 751.2 m | 804.2 m | 980.6 m | 1.2 bn |
| Cost of revenue | 277.3 m | 284.3 m | 298.6 m | 330.9 m | 336.9 m | 359.1 m | 439.6 m | 536.9 m |
| Gross profit | 344.4 m | 353.2 m | 366.0 m | 406.2 m | 414.3 m | 445.1 m | 541.1 m | 665.5 m |
| SG&A | 95.3 m | 92.2 m | 105.0 m | 112.9 m | 118.7 m | 103.3 m | 118.6 m | 167.3 m |
| Operating income | 163.3 m | 168.8 m | 164.8 m | 195.2 m | 199.9 m | 241.2 m | 303.9 m | 357.7 m |
| Depreciation & amortisation | 10.0 m | 11.4 m | 13.1 m ≈ | 13.7 m ≈ | 14.2 m | 15.1 m | 17.1 m ≈ | 18.8 m ≈ |
| Pre-tax income | 169.5 m | 173.9 m | 177.0 m | 205.6 m | 209.8 m | 247.2 m | 321.7 m | 366.6 m |
| Income tax | -1.1 bn | 38.8 m | 42.0 m | 25.8 m | 38.1 m | 54.0 m | 64.4 m | 95.6 m |
| Net income | 1.3 bn | 135.1 m | 135.0 m | 179.8 m | 171.7 m | 193.2 m | 257.3 m | 271.1 m |
| Diluted EPS | 25.87 ≈ | 2.81 | 2.81 | 3.74 | 3.49 ≈ | 3.92 | 5.22 | 5.51 |
| Operating cash flow | 167.7 m | 256.4 m | 237.6 m ≈ | 239.3 m ≈ | 104.9 m | 250.3 m | 227.9 m ≈ | 289.9 m ≈ |
| Capex | 64.8 m | 40.3 m | 48.1 m ≈ | 42.5 m ≈ | 41.0 m | 70.8 m | 82.4 m ≈ | 69.3 m ≈ |
| Dividends paid | 61.9 m | 60.0 m | 75.1 m ≈ | 74.9 m ≈ | 74.8 m | 78.4 m | 101.1 m ≈ | 98.5 m ≈ |
| Share repurchases | 622.0 m | 0 | 2.6 m | 2.1 m | 897.0 k | — | — | 453.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 61 percentile of its own 44-quarter history (min 17.2, median 69.7, max 108.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 582.4 m | 627.9 m | 844.5 m | 1.2 bn | 1.8 bn | 1.8 bn | 2.2 bn | 2.8 bn |
| Revenue YoY | +23.7% | +7.8% | +34.5% | +43.0% | +48.5% | +1.5% | +21.2% | +26.4% |
| Net income | 105.3 m | 108.8 m | 164.4 m | 242.0 m | 437.7 m | 427.4 m | 1.6 bn | 621.5 m |
| Net income YoY | +61.4% | +3.4% | +51.0% | +47.2% | +80.8% | −2.4% | +272.5% | −61.0% |
| Diluted EPS | 2.36 | 2.38 | 3.50 | 5.05 | 9.05 | 8.76 | 32.60 | 12.86 |
| Diluted EPS YoY | +57.3% | +0.8% | +47.1% | +44.3% | +79.2% | −3.2% | +272.1% | −60.6% |
| net % | 18.1% | 17.3% | 19.5% | 20.0% | 24.4% | 23.5% | 72.1% | 22.3% |
| Free cash flow | 118.9 m | 120.5 m | 212.2 m | 225.6 m | 187.8 m | 580.6 m | 642.3 m | 666.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.1 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 3.5 bn USD
- Total assets
- 4.2 bn USD
- Debt / equity
- unavailable
- Current ratio
- 5.91x
- ROE
- 19.2%
- ROA
- 16.1%
- FCF margin
- 23.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 844.5 m | 1.2 bn | 1.8 bn | 1.8 bn | 2.2 bn | 2.8 bn | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 378.5 m | 522.3 m | 745.6 m | 800.0 m | 986.2 m | 1.3 bn | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 466.0 m | 685.5 m | 1.0 bn | 1.0 bn | 1.2 bn | 1.5 bn | SEC (XBRL)· 27 Feb 2026verified |
| SG&A | 161.7 m | 232.4 m | 281.6 m | 275.7 m | 356.8 m | 428.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 158.9 m | 262.4 m | 526.8 m | 481.7 m | 539.4 m | 728.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 19.2 m | 28.7 m | 37.1 m | 40.2 m | 36.4 m | 52.5 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | 178.1 m ≈ | 291.1 m ≈ | 563.9 m ≈ | 521.9 m ≈ | 575.8 m ≈ | 781.1 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Pre-tax income | 169.3 m | 272.2 m | 524.9 m | 505.8 m | 572.9 m | 766.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 5.0 m | 30.2 m | 87.3 m | 78.5 m | -1.0 bn | 144.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 164.4 m | 242.0 m | 437.7 m | 427.4 m | 1.6 bn | 621.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 3.50 | 5.05 | 9.05 | 8.76 | 32.60 | 12.86 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 47.0 m | 47.9 m | 48.4 m | 48.8 m | 48.8 m | 48.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | 2.00 | 2.40 | 3.00 | 4.00 | 5.00 | 6.24 | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 334.9 m | 189.3 m | 288.6 m | 527.8 m | 691.8 m | 1.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 66.8 m | 104.8 m | 182.7 m | 179.9 m | 172.5 m | 255.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 157.1 m | 259.4 m | 447.3 m | 383.7 m | 419.6 m | 564.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 842.0 m | 1.1 bn | 1.4 bn | 1.8 bn | 1.6 bn | 2.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 281.5 m | 363.0 m | 357.2 m | 369.0 m | 494.9 m | 627.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 6.6 m | 6.6 m | 6.6 m | 6.6 m | 25.9 m | 25.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | — | — | — | 0 | 9.9 m | 8.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 1.2 bn | 1.6 bn | 2.1 bn | 2.4 bn | 3.5 bn | 4.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 38.2 m | 83.0 m | 61.5 m | 63.0 m | 102.5 m | 138.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 147.0 m | 226.9 m | 263.4 m | 235.0 m | 294.6 m | 369.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 241.9 m | 341.8 m | 390.3 m | 384.4 m | 564.7 m | 662.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 966.6 m † | 1.2 bn † | 1.7 bn † | 2.0 bn † | 3.0 bn † | 3.5 bn † | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 267.8 m | 320.0 m | 246.7 m | 638.2 m | 788.4 m | 838.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 55.6 m | 94.4 m | 58.8 m | 57.6 m | 146.1 m | 172.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 212.2 m ≈ | 225.6 m ≈ | 187.8 m ≈ | 580.6 m ≈ | 642.3 m ≈ | 666.2 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -39.2 m | -378.9 m | -12.5 m | -178.7 m | 223.0 m | -157.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -71.6 m | -90.2 m | -128.8 m | -183.7 m | -872.2 m | -285.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 88.8 m | 109.4 m | 138.0 m | 185.8 m | 240.6 m | 284.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | — | 0 | 0 | 3.7 m | 636.2 m | 6.6 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 64.8 bn USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 55.3% | 38 (on a fixed band) | 14% |
| EBIT margin · Quality | 29.5% | 50 (vs peers) | 11% |
| FCF margin · Quality | 16.3% | 65 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 15.9% | 63 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 26.4% | 69 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.7x | 100 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 0.9% | 19 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 1.3% | 54 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth65/100 · 2/2 factors with a value
- Quality50/100 · 3/3 factors with a value
- Returns54/100 · 1/1 factors with a value
- Valuation· partial19/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Monolithic Power Systems, Inc. (MPWR). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 2.8 bn USD in 2025; YoY growth 26.4%; net margin 23.9%; ROE 25.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 3.7x
What contradicts it
- FCF yield: 0.9%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Semiconductors & Related Devices (SIC 3674) · same industry (4-digit SIC) · compared with 13 companies
Only companies with a capitalisation between 7.2 bn and 459.2 bn (within 8× of the company's); 83 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| INTCIntel Corporation | 321.8 bn | — | -10.9% | -20.1% | −0.5% | +49% / +35% |
| AMATApplied Materials Inc | 303.1 bn | 32.9 | 41.1% | 30.1% | +4.4% | +51% / +155% |
| TXNTexas Instruments Inc | 285.5 bn | 40.5 | 39.7% | 34.3% | +13.0% | +86% / +105% |
| ADIAnalog Devices Inc | 203.4 bn | 49.8 | 12.2% | 29.8% | +16.9% | +58% / +129% |
| MRVLMarvell Technology, Inc | 150.8 bn | 56.8 | 16.5% | 27.9% | +42.1% | +92% / +209% |
| NXPINXP Semiconductors N.V. | 66.2 bn | 20.7 | 29.2% | 23.4% | −2.7% | +35% / +29% |
| MPWRMonolithic Power Systems, Inc. | 64.8 bn | 73.2 | 25.1% | 23.9% | +26.4% | +32% / +169% |
| MCHPMicrochip Technology Incorporated | 42.3 bn | 107.7 | 7.2% | 9.3% | +7.1% | +45% / −7% |
| ALABAstera Labs, Inc. | 40.5 bn | 115.8 | 25.8% | 30.7% | +115.1% | +48% / unavailable |
| CRDOCredo Technology Group Holding Ltd | 28.4 bn | 53.8 | 30.7% | 33.8% | +205.7% | −15% / +743% |
| ONOn Semiconductor Corp | 28.3 bn | 42.2 | 8.9% | 10.8% | −15.3% | +45% / +2% |
| QQnity Electronics, Inc. | 24.9 bn | 40.1 | 8.9% | 12.4% | +9.7% | +47% / unavailable |
| FSLRFirst Solar, Inc. | 20.0 bn | 10.8 | 18.7% | 37.1% | +24.1% | −32% / +18% |
| MTSIMACOM Technology Solutions Holdings, Inc. | 18.0 bn | 75.3 | 17.2% | 20.7% | +32.6% | +35% / +180% |
1- and 3-year price returns: for MPWR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 876.35 Total return -34% · Per year -34% | 1,542.24 Total return 17% · Per year 17% | 2,313.36 Total return 75% · Per year 75% |
| 3 years | 1,039.49 Total return -20% · Per year -7% | 2,039.61 Total return 56% · Per year 16% | 3,331.24 Total return 154% · Per year 36% |
| 5 years | 1,233.00 Total return -4% · Per year -1% | 2,697.39 Total return 108% · Per year 16% | 4,796.98 Total return 267% · Per year 30% |
- Exit P/E± 509.90
- Net margin± 356.93
- Annual revenue growth± 266.20
- Annual dilution± 29.99
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (29 Oct 2026 · results).
In brief
Monolithic Power Systems is a fabless company that designs high-performance semiconductor power electronics for data centres, automotive, communications and industrial customers. The company reported revenue of 2.8 billion dollars in fiscal 2025 and kept growing into 2026, as demand for AI infrastructure expanded. Second-quarter 2026 revenue reached 980.6 million dollars 3.
SWOT
Strengths
- The company has proprietary process and packaging technologies, a large patent position and sustained revenue growth, with gross margins steady around 55 percent 13.
- The fabless model lets resources concentrate on engineering and limits capital spending, supporting financial flexibility 2.
- Its cash and short-term investment position is solid, so expansion could be funded from internal resources 3.
Weaknesses
- Revenue is heavily concentrated in Asia, and a few distributors account for a large share of sales 1.
- The company depends on third parties for wafer fabrication and testing, which can create capacity bottlenecks 1.
- The company reported a material weakness in internal control and restated prior financial statements, which calls for close attention from investors 1.
Opportunities
- Demand for AI systems and data centre architectures could significantly widen the company's addressable market 3.
- Expansion into automotive and new industrial applications could reduce dependence on a single segment 13.
- If the capacity plan is delivered, the company could support future growth without relying on a single supplier 3.
Risks
- Geographic concentration in Asiahigh
Most revenue comes from customers in Asia, exposing the company to political, currency and operational risks 1.
- China-related riskshigh
Operations and suppliers in China are subject to extensive regulation and policy changes that could raise costs 1.
- Tariffs and export controlsmedium
Trade measures can be introduced quickly and unexpectedly; the company said they had no material impact so far but this could change 2.
- Dependence on distributorsmedium
A small number of distributors generate a significant part of revenue, and their inventory levels can influence orders 1.
- Internal control and restatementmedium
The company reported a material weakness in internal control and a restatement of prior financial statements, which could bring added costs 1.
Investment thesis
What would need to be true (bull case)
- Revenue growth was strong in 2025 and continued into the second quarter of 2026, with a quarterly record, pointing to solid demand for the company's products 3.
- If expansion into AI and automotive segments is confirmed, the company could diversify its revenue sources and reduce reliance on a single segment's cycle 13.
- High gross margins and proprietary technologies support a competitive position if innovation continues 1.
What would break the thesis
- Dependence on Asia and on customers in China remains high, and geopolitical tensions could quickly affect revenue 12.
- Recent growth is concentrated in one segment, and if demand for AI infrastructure falls, the impact could be significant 3.
- The internal control weakness and earlier restatement could add uncertainty for investors 1.
What to watch
- Revenue against the third-quarter 2026 outlook rangeQ3 2026
- Trend in GAAP gross margin and operating expensesQ3 2026
- Effects of tariffs and export controls on the supply chain2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (29 Oct 2026 · results).
The business
Monolithic Power Systems, Inc. is a global fabless company founded in 1997 that provides semiconductor-based power electronics solutions. Its strengths are system-level knowledge, semiconductor design expertise and proprietary technologies in processes, system integration and packaging 1. Its products are designed to be more integrated, smaller and more energy-efficient than many competing solutions 1.
The fabless model lets the company focus engineering resources on design, while manufacturing, assembly and testing are handled by partners in China, Taiwan, South Korea, Singapore and Malaysia 1. This limits capital spending and fixed costs but makes the company dependent on an Asian supply chain 1.
The company keeps investing in research and development and holds a large portfolio of patents and applications, which it describes as material to its business 1. Its stated mission is to reduce energy and material consumption 1.
Market context
The analog and mixed-signal semiconductor market is competitive, with long product life cycles and average selling prices that fall over the life of a product 1. The industry is cyclical, and the company says it has targeted areas that could allow above-average performance over the long term 1. Demand from data centres and AI infrastructure became an important growth driver in 2026 3.
A key risk could be volatile demand in China and the rest of Asia, where most customers are located 1. Trade tensions, tariffs and export controls can change market conditions quickly 2.
Trends
- Demand for AI infrastructure and data centrestailwind
Growth in AI systems and cloud servers could support revenue in the Enterprise Data segment, which grew sharply in 2026 3. The company has already started sampling products for 800V data centre architectures 3.
- Geopolitical tensions and tariffsheadwind
Tariffs, export controls and retaliatory measures could affect operations and the supply chain, and the company says it is closely monitoring these developments 2. If restrictions widen, the impact could be significant.
- Automotive electrificationtailwind
Growth in advanced driver assistance and infotainment systems could expand the company's automotive share over the long term 13.
- Geographic concentration of revenuemixed
Reliance on Asian customers can expose the company to political, currency and operational risks, especially if relations between states deteriorate 1. Diversifying customers and regions is a stated goal, but results remain uncertain.
Competitive position
The company competes with several international makers of analog and power semiconductors, some with far greater financial and technological resources 1. Competition could intensify price pressure and the speed of new product launches 1.
The company's stated advantage is smaller circuit size, high integration and superior energy efficiency 1. Consolidation in the industry could, however, create larger competitors 1.
- Analog DevicesADI
Maker of analog and mixed-signal integrated circuits, named as a primary competitor.
- Texas InstrumentsTXN
Supplier of analog and power management circuits, named among primary competitors.
- ON SemiconductorON
Maker of power and analog semiconductors, named among primary competitors.
- Power IntegrationsPOWI
Specialist in power conversion circuits, named as a direct rival on some product lines.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Wall Street Thinks Monolithic Power Stock Is Worth 50% More. Here’s the Catch.Yahoo Finance — News · 20 Sept 2026 · EN
- Monolithic Power Revenue Jumped 48%. Can AI Power Chips Keep the Momentum Going?Yahoo Finance — News · 05 Sept 2026 · EN
The latest news item in our archive is from 20 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report29 Oct 2026Results of operations · Departure or appointment of officers · Financial statements and exhibits
- Current report10 Sept 2026Other events · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report12 Jun 2026Shareholder vote · Other events · Financial statements and exhibits
- Quarterly report04 May 2026
- Current report30 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Apr 2026
- Annual report27 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Monolithic Power Systems, Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Monolithic Power Systems, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Monolithic Power Systems, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.