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Monolithic Power Systems, Inc.

MPWR Technology Semiconductors

Monolithic Power Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 26.4% from fiscal 2024. In the quarter to June 2026, revenue grew 47.6%, EPS grew 87.8% and free cash flow fell 61.5%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.

1,166.54 116.78 −9.10%
Market cap
$57.4B
P/E
71.1×
Fwd P/E
53.5×
Dividend yield
0.65%
F-score
6/9
Altman Z
42.05
Beneish M
−2.48
Dividend safety
88/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Monolithic Power Systems, Inc. (MPWR) Piotroski F-score

Alert me on Piotroski F-score

Monolithic Power Systems, Inc.'s Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2024.

Piotroski F-score, annual

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Annual newest first

Period Piotroski F-score Change (points)
FY2025 6 2.00
FY2024 4 (1.00)
FY2023 5 (2.00)
FY2022 7 0.00
FY2021 7 0.00
FY2020 7 3.00
FY2019 4 (3.00)
FY2018 7 1.00
FY2017 6 (1.00)
FY2016 7 —

How fiscal 2025’s score is made up

Test This year Year before Result Points
Positive return on assets 16.12% 53.51% Pass 1
Positive operating cash flow 838.20m 788.41m Pass 1
Rising return on assets 16.12% 53.51% Fail 0
Cash flow above net income 216.72m (803.65m) Pass 1
Falling long-term leverage 0.00 0.00 Pass 1
Rising current ratio 5.91 5.31 Pass 1
No new shares issued 48,035,000 48,599,000 Pass 1
Rising gross margin 55.18% 55.32% Fail 0
Rising asset turnover 0.72 0.74 Fail 0
Piotroski F-score Mixed 6

How the Piotroski F-score works

One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.

Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:

7–9Strong — most fundamentals improved
4–6Mixed
0–3Weak — most fundamentals deteriorated

Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.

Piotroski F-score against peers

Company Piotroski F-score
CRDO Credo Technology Group Holding Ltd. compare 7
ASX ASE Technology Holding Co., Ltd. compare 6
STM STMicroelectronics N.V. compare 6
MCHP Microchip Technology Incorporated compare 6
MPWR Monolithic Power Systems, Inc. 6
ALAB Astera Labs, Inc. compare 6
UMC United Microelectronics Corporation compare 5
ON ON Semiconductor Corporation compare 5
NXPI NXP Semiconductors N.V. compare 4

What Piotroski F-score is

The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.

One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover

The full definition of Piotroski F-score →

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