Monolithic Power Systems (MPWR) FY2017 results: revenue $471 million, up 21.2% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $471 million for fiscal 2017, the year ended 31 December 2017, up 21.2% on the year before. Net income was $65 million, up 23.7%, and diluted earnings per share $1.50. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$471 million
+21.2% on the year
FY2010FY2017
Operating margin
16.4%
14.0% a year earlier
FY2010FY2017
Net income
$65 million
+23.7% on the year
FY2010FY2017
Diluted EPS
$1.50
+19.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
471
389
333
+21.2%
Cost of revenue
213
178
153
+19.6%
Gross profit
258
211
180
+22.5%
Gross margin
54.8%
54.3%
54.1%
Research and development
82.4
73.6
65.8
+11.8%
Selling, general and administrative
97.3
83.0
72.3
+17.2%
Operating income
77.4
54.4
41.1
+42.2%
Operating margin
16.4%
14.0%
12.3%
Pre-tax income
82.9
57.3
42.5
+44.8%
Income tax
17.7
4.5
7.3
+290.4%
Effective tax rate
21.4%
7.9%
17.2%
Net income
65.2
52.7
35.2
+23.7%
Net margin
13.8%
13.6%
10.6%
Diluted EPS
$1.50
$1.26
$0.86
+19.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
134
108
69.7
+24.2%
Capital expenditure
65.8
37.1
16.0
+77.2%
Free cash flow
68.0
70.7
53.7
-3.7%
Free cash flow margin
14.4%
18.2%
16.1%
Cash from investing
-134
-55.7
-57.2
Cash from financing
-31.3
-28.1
-46.7
Depreciation and amortisation
16.1
14.7
13.8
+9.7%
Share-based compensation
52.6
45.0
41.6
+17.0%
Buybacks
n/a
n/a
32.3
Dividends paid
33.9
n/a
n/a
Dividend per share
$0.80
$0.80
$0.80
0.0%
Diluted shares, weighted
44m
42m
41m
+4.0%
Shares outstanding at period end
42m
41m
40m
+2.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
522
431
369
+21.1%
Debt
0.0
0.0
0.0
Other liabilities
131
80.0
62.8
+63.2%
Total liabilities and equity
653
511
431
+27.7%
Fixed assets
145
85.2
65.4
+69.8%
Goodwill
6.6
6.6
6.6
0.0%
Intangible assets
1.0
3.0
5.1
-68.3%
Investments
222
161
149
+37.7%
Cash and equivalents
82.8
113
90.9
-26.6%
Receivables
38.0
34.2
30.8
+11.1%
Inventory
99.3
71.5
63.2
+38.9%
Other assets
58.7
37.1
19.9
+58.4%
Total assets
653
511
431
+27.7%
10-K for the year ended 31 December 2017, filed 1 March 2019: the filing.