Monolithic Power Systems, Inc. MPWR
- Market cap
- $68.5B
- P/E
- 87.7×
Follow MPWR
Monolithic Power Systems, Inc. (MPWR) Beneish M-score
Monolithic Power Systems, Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: leverage index cannot be worked out.
Beneish M-score, annual
Annual
| Period | Beneish M-score | Change (points) |
|---|
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.17 | — | 1.08 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.80 | — | 0.32 | |
| Sales growth index | 1.26 | — | 1.13 | |
| Depreciation index | 0.44 | — | 0.05 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.05) | — | −0.24 | |
| Leverage index | — | — | n/a | — |
| Beneish M-score | n/a — leverage index cannot be worked out | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| ON ON Semiconductor Corporation compare | −3.0× |
| ASX ASE Technology Holding Co., Ltd. compare | −3.0× |
| UMC United Microelectronics Corporation compare | −2.9× |
| STM STMicroelectronics N.V. compare | −2.7× |
| NXPI NXP Semiconductors N.V. compare | −2.6× |
| MCHP Microchip Technology Incorporated compare | −2.5× |
| CRDO Credo Technology Group Holding Ltd. compare | — |
| ALAB Astera Labs, Inc. compare | — |
| MPWR Monolithic Power Systems, Inc. | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI
More on MPWR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Altman Z-score
- The full statement