Monolithic Power Systems (MPWR) FY2019 results: revenue $628 million, up 7.8% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $628 million for fiscal 2019, the year ended 31 December 2019, up 7.8% on the year before. Net income was $109 million, up 3.4%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$628 million
+7.8% on the year
FY2012FY2019
Operating margin
16.3%
19.5% a year earlier
FY2012FY2019
Net income
$109 million
+3.4% on the year
FY2012FY2019
Diluted EPS
$2.38
+0.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
628
582
471
+7.8%
Cost of revenue
282
260
213
+8.4%
Gross profit
346
323
258
+7.3%
Gross margin
55.2%
55.4%
54.8%
Research and development
108
93.5
82.4
+15.3%
Selling, general and administrative
134
114
97.3
+17.3%
Operating income
103
113
77.4
-9.6%
Operating margin
16.3%
19.5%
16.4%
Pre-tax income
113
118
82.9
-4.5%
Income tax
4.3
13.2
17.7
-67.6%
Effective tax rate
3.8%
11.2%
21.4%
Net income
109
105
65.2
+3.4%
Net margin
17.3%
18.1%
13.8%
Diluted EPS
$2.38
$2.36
$1.50
+0.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
216
141
134
+52.9%
Capital expenditure
95.8
22.5
65.8
+325.3%
Free cash flow
120
119
68.0
+1.3%
Free cash flow margin
19.2%
20.4%
14.4%
Cash from investing
-167
-14.7
-134
Cash from financing
-48.0
-34.6
-31.3
Depreciation and amortisation
14.9
12.3
16.1
+20.8%
Share-based compensation
78.7
60.6
52.6
+29.9%
Dividends paid
67.3
47.5
33.9
+41.7%
Dividend per share
$1.60
$1.20
$0.80
+33.3%
Diluted shares, weighted
46m
45m
44m
+2.6%
Shares outstanding at period end
44m
43m
42m
+2.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
773
640
522
+20.8%
Debt
n/a
0.0
0.0
Operating lease liabilities
n/a
0.0
n/a
Other liabilities
183
153
131
+19.3%
Total liabilities and equity
956
793
653
+20.5%
Fixed assets
228
150
145
+52.2%
Goodwill
6.6
6.6
6.6
0.0%
Intangible assets
n/a
0.1
1.0
Investments
286
208
222
+37.4%
Cash and equivalents
173
173
82.8
+0.1%
Receivables
52.7
55.2
38.0
-4.5%
Inventory
128
136
99.3
-6.5%
Other assets
82.8
64.6
58.7
+28.0%
Total assets
956
793
653
+20.5%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.