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Screener / SEC EDGAR /CIK 0001280452 /10-K filed Feb 27, 2026, compared with Mar 3, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
SWKSLITETRMBFFIVMPWRP
Nasdaq Technology · Semiconductors

Monolithic Power Systems MPWR

MPWR quote by TradingView

Monolithic Power Systems, Inc. is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. 10-K, Item 1

Employees
4,501
Headquarters
West Palm Beach, FL
CEO
Michael Hsing
Next results
around Feb 4, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $2.8B through the costs to a net profit of $621.5M · income statement of the 10-K

26% operating margin
Revenue to Gross profit: $1.5BRevenue to Cost of revenue: $1.3BGross profit to Operating profit: $728.6MGross profit to Operating expenses: $811.1MOperating profit to Net profit: $583.9MOperating profit to Tax: $144.7MOther income to Net profit: $37.6MOperating expenses to R&D: $382.3MOperating expenses to SG&A: $428.8M Revenue: $2.8B REVENUE $2.8B +26% Y/Y Gross profit: $1.5B · 55% margin GROSS PROFIT $1.5B 55% margin · +26% Y/Y Cost of revenue: $1.3B · 45% of revenue COST OF REVENUE $1.3B 45% of revenue Operating profit: $728.6M · 26% margin OPERATING PROFIT $728.6M 26% margin · +35% Y/Y Other income: $37.6M · 1% of revenue OTHER INCOME $37.6M 1% of revenue Operating expenses: $811.1M · 29% of revenue OPERATING EXPENSES $811.1M 29% of revenue Net profit: $621.5M · 22% margin NET PROFIT $621.5M 22% margin · −61% Y/Y Tax: $144.7M · 5% of revenue TAX $144.7M 5% of revenue R&D: $382.3M · 14% of revenue R&D $382.3M 14% of revenue SG&A: $428.8M · 15% of revenue SG&A $428.8M 15% of revenue
Gross profit $1.5B 55% margin · +26% Y/Y
Operating profit $728.6M 26% margin · +35% Y/Y
Net profit $621.5M 22% margin · −61% Y/Y
The full income statement, year by year

MPWR among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 26.4%, above 80% of 74 peers (their median 14.0%) REVENUE GROWTH 26.4% · above 80% Gross margin: 55.3%, above 46% of 67 peers (their median 58.0%) GROSS MARGIN 55.3% · above 46% Operating margin: 29.5%, above 66% of 70 peers (their median 22.2%) OPERATING MARGIN 29.5% · above 66% Net margin: 23.9%, above 65% of 74 peers (their median 18.9%) NET MARGIN 23.9% · above 65% FCF margin: 16.3%, above 31% of 70 peers (their median 23.7%) FCF MARGIN 16.3% · above 31% Return on capital: 15.8%, above 59% of 61 peers (their median 12.6%) RETURN ON CAPITAL 15.8% · above 59%
MPWR Peer median Below the median

What changed

7 new risk paragraphs and 3 accounting facts worth reading about. 10-K filed Feb 27, 2026 against Mar 3, 2025.

Risk factors
7 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +48.2% vs revenue +26.4% (+21.7 pts)
10-K · XBRL
Restatement (8-K item 4.02)
8-K item 4.02 (non-reliance on previous financial statements) filed Feb 27, 2026
10-K · XBRL
Material weakness in internal control
“Due to this finding of a material weakness, we concluded that our internal control over financial reporting was not effective as of December 31, 2024 and December 31, 2025.”
10-K · XBRL
Accounting checks
8 other checks clear, 3 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

3facts worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +48.2% vs revenue +26.4% (+21.7 pts)
  • Restatement (8-K item 4.02)
    8-K item 4.02 (non-reliance on previous financial statements) filed Feb 27, 2026
  • Material weakness in internal control
    “Due to this finding of a material weakness, we concluded that our internal control over financial reporting was not effective as of December 31, 2024 and December 31, 2025.”
  • Cash from operations $838.2M vs net income $621.5M (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • Inventory +34.6% vs revenue +26.4% (+8.1 pts)
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Inventory Valuation. Same as last year: Income Taxes – Realizability of foreign tax incentive
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

7 paragraphs in Risk Factors that were not in the 10-K filed Mar 3, 2025. Quoted as filed.

All 7 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Mar 3, 2025 10-K, ITEM 1A
    The restatement of our 2024 annual financial statements and our 2025 quarterly financial statements may affect investor confidence and raise reputational issues and may subject us to additional risks and uncertainties, including increased professional costs and the increased possibility of legal proceedings and regulatory inquiries. As…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$1.8B$1.8B$2.2B$2.8B
Net income$437.7M$427.4M$1.6B$621.5M
Operating cash flow$246.7M$638.2M$788.4M$838.2M
Free cash flow$187.8M$580.6M$642.3M$666.2M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$2.8B ▲ 26.4% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Monolithic Power Systems, West Palm Beach, FL · from the 10-K filed Feb 27, 2026

Monolithic Power Systems, Inc. is a fabless global company that provides high-performance, semiconductor-based power electronics solutions. Incorporated in 1997, our three core strengths include deep system-level knowledge, strong semiconductor design expertise, and innovative proprietary technologies in the areas of semiconductor processes, system integration, and packaging. These combined advantages enable us to deliver reliable, compact, and monolithic solutions found in storage and computing, enterprise data, automotive, industrial, communications and consumer applications.

Headquarters
West Palm Beach, FL
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
December 31
Last results
Oct 29, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we employed 4,501 employees in various locations in Asia, Europe and the U" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 27, 2026 (open at SEC), compared with the 10-K filed Mar 3, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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