Monolithic Power Systems (MPWR) stock
Information Technology · Semiconductors
Monolithic Power Systems (MPWR) is a Semiconductors company in the Information Technology sector, headquartered in Kirkland, Washington. As of October 23, 2026, MPWR closed at $1,140.12, a market capitalization of $56.03 billion, the 216th largest company in the S&P 500. Over the last twelve months it generated $3.27 billion in revenue (+48% year over year) and $582.61 million in free cash flow. The stock trades at 69.4x trailing earnings and 32.3x forward earnings.
- 1-year total return: +7.2% (dividends reinvested)
- 5-year return: +18.3% a year
- 52-week range: $833.18 – $1,714.09
- Gross margin 55.2%, operating margin 31.0%
- Dividend yield: 0.70%, 8 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 42nd largest of 75 Information Technology stocks in the S&P 500
MPWR price chart
1Y price change: +6.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MPWR | -15.8% | +26.4% | +7.2% | +41.2% | +18.3% | +31.9% | +25.1% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2004.
MPWR key statistics
- Market cap
- $56.0B
- #216 in S&P 500
- P/E (TTM)
- 69.4x
- Forward P/E
- 32.3x
- EPS (TTM)
- $16.44
- Revenue (TTM)
- $3.3B
- +48%
- Free cash flow
- $582.6M
- Gross margin
- 55.2%
- Operating margin
- 31.0%
- Return on equity
- 22.0%
- Dividend yield
- 0.70%
- 52-week range
- $833.18 – $1,714
- Beta
- 1.68
- Price / sales
- 17.1x
- EV / EBITDA
- 54.6x
- Debt / equity
- 0.00x
- Employees
- 4,501
MPWR report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth47.6%A
- Gross margin55.2%B
- Operating margin31.0%A
- FCF margin17.8%B
- Return on equity22.0%B
- Net debt / EBITDA-1.4xA
- Forward P/E32.3xD
- PEG ratio1.0xB
- Shareholder yield0.7%D
- Share count change / yr0.5%D
Monolithic Power Systems financials
Revenue went from $388.7M in fiscal 2016 to $2.8B in fiscal 2025, growing 24.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $388.7M | $470.9M | $582.4M | $627.9M | $844.5M | $1.2B | $1.8B | $1.8B | $2.2B | $2.8B |
| Gross profit | $210.9M | $258.3M | $322.7M | $346.3M | $466.0M | $685.5M | $1.0B | $1.0B | $1.2B | $1.5B |
| Operating income | $54.4M | $77.4M | $113.5M | $102.6M | $158.9M | $262.4M | $526.8M | $481.7M | $539.4M | $728.6M |
| Net income | $52.7M | $65.2M | $105.3M | $108.8M | $164.4M | $242.0M | $437.7M | $427.4M | $1.6B | $621.5M |
| EPS (diluted) | $1.26 | $1.50 | $2.36 | $2.38 | $3.50 | $5.05 | $9.05 | $8.76 | $32.60 | $12.86 |
| Free cash flow | $70.7M | $68.1M | $118.9M | $120.5M | $212.2M | $225.6M | $187.8M | $580.6M | $642.3M | $666.2M |
| Buybacks | — | — | — | — | — | $0 | $0 | $3.7M | $636.2M | $6.6M |
| Dividends paid | — | $33.9M | $47.5M | $67.3M | $88.8M | $109.4M | $138.0M | $185.8M | $240.6M | $284.8M |
| Diluted shares | 41.9M | 43.6M | 44.6M | 45.8M | 47.0M | 47.9M | 48.4M | 48.8M | 48.8M | 48.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MPWR?
A reverse DCF asks what growth the current price requires. With an enterprise value of $54.6B and $582.6M of trailing free cash flow, Monolithic Power Systems needs to grow free cash flow about 52.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 25.7% a year over the last five years.
P/E ratio history
Current 88.7x vs. median 72.6x (10th–90th percentile 28.4x–106.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MPWR dividend
- Dividend yield
- 0.70%
- Annual dividend
- $8.00
- Years of increases
- 8
- 5-yr dividend growth
- 25.6%
- per year
- Payout ratio
- 43%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MPWR analyst price targets
15 analysts' average 12-month target is $1,800 (+58% vs. $1,140). Targets range from $1,500 to $2,100. 94% rate it a buy.
MPWR earnings
Next report: October 29, 2026. Monolithic Power Systems has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $980.6M (+48% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $5.88 | $6.50 | +10.5% |
| Apr 30, 2026 | $4.90 | $5.10 | +4.0% |
| Feb 5, 2026 | $4.74 | $4.79 | +1.1% |
| Oct 30, 2025 | $4.64 | $4.73 | +2.0% |
| Jul 31, 2025 | $4.12 | $4.21 | +2.3% |
| May 1, 2025 | $4.00 | $4.04 | +0.9% |
| Feb 6, 2025 | $3.98 | $4.09 | +2.9% |
| Oct 30, 2024 | $3.97 | $4.06 | +2.3% |
Stocks like MPWR
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MPWR news
- Can Monolithic Power Systems Stock Fall 30%? · Oct 22, 2026
- Monolithic Power (MPWR) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
- Western Digital, Nova, Amtech, Monolithic Power Systems, and Texas Instruments shares skyrocket, what you need to know · Oct 21, 2026
- If Monolithic Power Systems Stock Looks Expensive, You Need To Read This · Oct 21, 2026
- Here's How Much You'd Have If You Invested $1000 in Monolithic Power a Decade Ago · Oct 16, 2026
MPWR stock FAQ
What is MPWR's market cap?
Monolithic Power Systems's market capitalization is $56.03 billion as of October 23, 2026, ranking 216th in the S&P 500.
What is MPWR's P/E ratio?
MPWR trades at a trailing price-to-earnings ratio of 69.4x and a forward P/E of 32.3x. Its median P/E over the period we track is 72.6x.
Does MPWR pay a dividend?
Yes. Monolithic Power Systems pays $8.00 per share a year, a 0.70% yield. It has raised its dividend 8 years in a row. Dividends grew 25.6% a year over the last five years.
How much has MPWR stock returned?
Including reinvested dividends, MPWR returned +7.2% over one year, +18.3% a year over five years, +31.9% a year over ten years through October 23, 2026.
Is MPWR stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Monolithic Power Systems must grow free cash flow about 52% a year for the next decade. Its free cash flow grew 26% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MPWR price target?
15 analysts cover MPWR with an average 12-month price target of $1,799.80, +58% from the current price. 94% of them rate it a buy.
When does MPWR report earnings?
Monolithic Power Systems is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Monolithic Power Systems have?
Monolithic Power Systems has about 4,501 full-time employees, or $727,207 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology