Monolithic Power Systems (MPWR) FY2018 results: revenue $582 million, up 23.7% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $582 million for fiscal 2018, the year ended 31 December 2018, up 23.7% on the year before. Net income was $105 million, up 61.4%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$582 million
+23.7% on the year
FY2011FY2018
Operating margin
19.5%
16.4% a year earlier
FY2011FY2018
Net income
$105 million
+61.4% on the year
FY2011FY2018
Diluted EPS
$2.36
+57.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
582
471
389
+23.7%
Cost of revenue
260
213
178
+22.1%
Gross profit
323
258
211
+24.9%
Gross margin
55.4%
54.8%
54.3%
Research and development
93.5
82.4
73.6
+13.5%
Selling, general and administrative
114
97.3
83.0
+17.0%
Operating income
113
77.4
54.4
+46.6%
Operating margin
19.5%
16.4%
14.0%
Pre-tax income
118
82.9
57.3
+42.8%
Income tax
13.2
17.7
4.5
-25.5%
Effective tax rate
11.2%
21.4%
7.9%
Net income
105
65.2
52.7
+61.4%
Net margin
18.1%
13.8%
13.6%
Diluted EPS
$2.36
$1.50
$1.26
+57.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
141
134
108
+5.7%
Capital expenditure
22.5
65.8
37.1
-65.8%
Free cash flow
119
68.0
70.7
+74.8%
Free cash flow margin
20.4%
14.4%
18.2%
Cash from investing
-14.7
-134
-55.7
Cash from financing
-34.6
-31.3
-28.1
Depreciation and amortisation
12.3
16.1
14.7
-23.5%
Share-based compensation
60.6
52.6
45.0
+15.2%
Dividends paid
47.5
33.9
n/a
+39.9%
Dividend per share
$1.20
$0.80
$0.80
+50.0%
Diluted shares, weighted
45m
44m
42m
+2.3%
Shares outstanding at period end
43m
42m
41m
+2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
640
522
431
+22.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
153
131
80.0
+17.4%
Total liabilities and equity
793
653
511
+21.6%
Fixed assets
150
145
85.2
+3.7%
Goodwill
6.6
6.6
6.6
0.0%
Intangible assets
0.1
1.0
3.0
-88.3%
Investments
208
222
161
-6.2%
Cash and equivalents
173
82.8
113
+108.7%
Receivables
55.2
38.0
34.2
+45.2%
Inventory
136
99.3
71.5
+37.4%
Other assets
64.6
58.7
37.1
+10.0%
Total assets
793
653
511
+21.6%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.