MPWR
Monolithic Power Systems, Inc.
MPWR's fundamentals are strong: revenue grew 40% and its operating margin rose 3 points to 29%, though earnings per share fell 53%. At 80x earnings, it's trading right at its usual valuation. Analysts expect that strong growth to continue.
MPWR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Strong |
MPWR's revenue, profitability, cash flow and balance sheet are all currently healthy.
MPWR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $1,447 | — |
| Cheap | 45x | $808 | -44% |
| Fair | 77x | $1,400 | -3.3% |
| Current | 80x | $1,447 | — |
| Expensive | 105x | $1,910 | +32% |
Historical ranges are pointers, not guarantees.
MPWR's PE is in its fair range at 80x. If earnings grow as analysts expect, today's price would be 34x next year's earnings, in its cheap range.
MPWR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for MPWR, with profitability improving.
MPWR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $42.12 | +132% |
| Q3 2026 | $18.15 | -53% |
| Q2 2026 | $16.35 | -57% |
| Q1 2026 | $13.91 | -63% |
| Q4 2025 | $12.78 | -65% |
| Q3 2025 | $38.98 | +339% |
| Q2 2025 | $38.22 | +355% |
| Q1 2025 | $37.49 | +347% |
| Q4 2024 | $36.59 | +318% |
MPWR's earnings per share have fallen from their peak: $18.15 over the past year, against $38.98 in late 2025.
MPWR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +63% |
| Q2 2026 | $980.6M | +48% |
| Q1 2026 | $804.2M | +26% |
| Q4 2025 | $751.2M | +21% |
| Q3 2025 | $737.2M | +19% |
| Q2 2025 | $664.6M | +31% |
| Q1 2025 | $637.6M | +39% |
| Q4 2024 | $621.7M | +37% |
MPWR's revenue has grown year over year for 11 quarters in a row: $1.2B last quarter, up 63% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | +3.3 points |
| Q2 2026 | 31% | +6.2 points |
| Q1 2026 | 30% | +3.5 points |
| Q4 2025 | 27% | +0.4 points |
| Q3 2025 | 26% | 0 points |
| Q2 2025 | 25% | +1.8 points |
| Q1 2025 | 26% | +5.6 points |
| Q4 2024 | 26% | +2.1 points |
MPWR's operating margin was 30% last quarter, up 3.3 points from the same quarter a year ago.
MPWR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $220.6M | +12% |
| Q2 2026 | $145.5M | -23% |
| Q1 2026 | $179.4M | -17% |
| Q4 2025 | $63.9M | -38% |
| Q3 2025 | $196.8M | -0.6% |
| Q2 2025 | $189.5M | +73% |
| Q1 2025 | $216M | -6.9% |
| Q4 2024 | $102.9M | -26% |
MPWR generated $609M in free cash flow over the past year, down 14% from the year before.
MPWR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -76K shares |
| 1 year | +2.4% | +1.1M shares |
| 3 years | +0.8% | +392K shares |
| 5 years | +2.8% | +1.3M shares |
| Available history | +5.8% | +2.7M shares |
MPWR has 49M diluted shares, up 2.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $453.4M |
| Q4 2025 | $1.9M |
| Q3 2025 | $2.1M |
| Q2 2025 | $2.6M |
| Q1 2025 | — |
| Q4 2024 | $622.1M |
| Q3 2024 | $5.5M |
| Q2 2024 | $4.6M |
MPWR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q4 2024 | -1.2x | Net Cash |
MPWR has more cash than debt.
MPWR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 40.0 | Neutral |
MPWR's weekly RSI is 57 (neutral) and its Stochastic is 40 (neutral).
MPWR PE vs Technology Sector
| Metric | MPWR | Sector median | Relative |
|---|---|---|---|
| PE | 80x | 28x | 186% above |
| PE % | 53 | 35 | 18 pts above |
MPWR is trading at 80x earnings, a 186% premium to the Technology sector's median of 28x.
MPWR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,299.2 | 11% above |
| 20 week MA | $1,307.9 | 11% above |
| 50 week MA | $1,268.3 | 14% above |
| 100 week MA | $1,001.6 | 45% above |
| 200 week MA | $812.9 | 78% above |
MPWR is in an uptrend: it's above all five of its weekly moving averages, and 78% above its 200-week average.
MPWR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $178.4 | $357.1 | +100% |
| 2021 | $357.1 | $495.6 | +39% |
| 2022 | $495.6 | $350.6 | -29% |
| 2023 | $350.6 | $630.8 | +80% |
| 2024 | $630.8 | $612.7 | -2.9% |
| 2025 | $612.7 | $946.3 | +54% |
| 2026 YTD | $946.3 | $1,447.4 | +53% |
MPWR has finished higher in four of the last six years, three of them by more than 50%. It's up 53% so far in 2026.