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Arphra AIPlain-English read on Monolithic Power Systems, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $1.21B | $1.79B | $1.82B | $2.21B | $2.79B | $3.69B | $4.5B | $5.15B | $6.03B |
| Cost of revenue | $522.34M | $745.6M | $799.95M | $986.23M | $1.25B | $1.65B | $2.02B | $2.31B | $2.61B |
| Gross profit | $685.46M | $1.05B | $1.02B | $1.22B | $1.54B | $2.05B | $2.5B | $2.89B | $3.32B |
| Gross margin | +56.75% | +58.44% | +56.07% | +55.32% | +55.18% | +55.61% | +55.48% | +56.02% | +55.17% |
| Operating | |||||||||
| Research & development | $190.63M | $240.17M | $263.64M | $324.75M | $382.26M | $514.68M | $630.98M | $757.83M | $845.03M |
| Selling, general & administrative | $232.42M | $281.6M | $275.74M | $356.76M | $428.84M | $558.61M | $697.88M | $817.22M | $930.96M |
| Total operating expenses | $423.04M | $521.77M | $539.38M | $681.51M | $811.11M | $1.07B | $1.36B | $1.54B | $1.82B |
| Operating income | $262.42M | $526.79M | $481.74M | $539.36M | $728.64M | $921.03M | $1.18B | $1.31B | $1.53B |
| Operating margin | +21.73% | +29.36% | +26.45% | +24.44% | +26.11% | +24.93% | +26.09% | +25.50% | +25.35% |
| EBITDA | $291.12M | $563.9M | $521.9M | $575.79M | $817.24M | $1.04B | $1.28B | $1.48B | $1.69B |
| EBIT | $262.42M | $526.79M | $481.74M | $539.36M | $766.22M | $969.19M | $1.15B | $1.36B | $1.57B |
| Below the line | |||||||||
| Interest expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest income | $11.64M | $14.37M | $23.36M | $27.09M | $0 | $31.15M | $38.47M | $44.34M | $50.83M |
| Other income / expense | $9.8M | -$1.85M | $24.11M | $33.55M | $37.58M | — | — | — | — |
| Pre-tax income | $272.22M | $524.94M | $505.84M | $572.91M | $766.22M | $1B | $1.23B | $1.42B | $1.67B |
| Income tax expense | $30.2M | $87.27M | $78.47M | -$1.21B | $150.29M | $174.64M | $212.57M | $245M | $288.83M |
| Earnings | |||||||||
| Net income | $242.02M | $437.67M | $427.37M | $1.79B | $615.93M | $951.14M | $1.15B | $1.34B | $1.59B |
| Net income · continuing ops | $242.02M | $437.67M | $427.37M | $1.79B | $615.93M | $1.53B | $1.88B | $2.13B | $2.52B |
| Net margin | +20.04% | +24.39% | +23.47% | +80.95% | +22.07% | +25.74% | +25.61% | +25.94% | +26.33% |
| EPS · basic | $5.28 | $9.37 | $8.98 | $36.76 | $12.82 | $23.90 | $30.74 | $34.82 | $41.86 |
| EPS · diluted | $5.05 | $9.05 | $8.76 | $36.59 | $12.75 | $23.97 | $30.00 | $34.67 | $41.25 |
| EPS · low estimate | — | — | — | — | — | $23.58 | $28.44 | $30.99 | $39.28 |
| EPS · high estimate | — | — | — | — | — | $24.83 | $32.96 | $39.75 | $44.17 |
| Shares · basic | 45.85M | 46.73M | 47.61M | 48.6M | 48.04M | 48.48M | 47.97M | 48.2M | 48.18M |
| Shares · diluted | 47.89M | 48.36M | 48.77M | 48.84M | 48.31M | 48.22M | 47.92M | 47.83M | 48.02M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 12 | 12 | 6 | 5 |
| Analysts (EPS) | — | — | — | — | — | 10 | 10 | 4 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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