Monolithic Power Systems (MPWR) FY2014 results: revenue $283 million, up 18.7% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $283 million for fiscal 2014, the year ended 31 December 2014, up 18.7% on the year before. Net income was $35 million, up 55.0%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$283 million
+18.7% on the year
FY2009FY2014
Operating margin
12.5%
10.0% a year earlier
FY2009FY2014
Net income
$35 million
+55.0% on the year
FY2009FY2014
Diluted EPS
$0.89
+50.8% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
283
238
214
+18.7%
Cost of revenue
130
110
101
+17.9%
Gross profit
153
128
113
+19.3%
Gross margin
54.0%
53.7%
52.9%
Research and development
58.6
49.7
48.8
+17.8%
Selling, general and administrative
66.8
54.6
50.0
+22.2%
Operating income
35.3
23.9
17.3
+47.6%
Operating margin
12.5%
10.0%
8.1%
Pre-tax income
36.4
24.0
17.9
+51.6%
Income tax
0.9
1.1
2.1
-19.1%
Effective tax rate
2.5%
4.6%
11.9%
Net income
35.5
22.9
15.8
+55.0%
Net margin
12.6%
9.6%
7.4%
Diluted EPS
$0.89
$0.59
$0.43
+50.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
74.1
60.7
24.9
+22.2%
Capital expenditure
9.5
15.8
21.1
-39.7%
Free cash flow
64.6
44.9
3.9
+43.9%
Free cash flow margin
22.9%
18.9%
1.8%
Cash from investing
n/a
n/a
-26.8
Cash from financing
n/a
n/a
-19.6
Depreciation and amortisation
13.1
12.2
9.3
+8.0%
Share-based compensation
33.5
20.7
18.7
+61.6%
Buybacks
41.2
20.6
n/a
+99.8%
Dividends paid
n/a
n/a
35.7
Dividend per share
$0.45
n/a
$1.00
Diluted shares, weighted
40m
39m
36m
+3.0%
Shares outstanding at period end
39m
38m
36m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
346
323
258
+7.1%
Debt
0.0
0.0
0.0
Other liabilities
52.9
45.5
28.9
+16.3%
Total liabilities and equity
399
369
287
+8.3%
Fixed assets
62.9
64.8
59.4
-2.9%
Goodwill
6.6
n/a
n/a
Intangible assets
6.8
n/a
n/a
Investments
118
135
97.3
-12.7%
Cash and equivalents
126
101
75.1
+24.8%
Receivables
25.6
23.7
19.4
+8.0%
Inventory
40.9
39.7
32.1
+3.0%
Other assets
12.4
4.4
3.9
+181.2%
Total assets
399
369
287
+8.3%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.