Monolithic Power Systems (MPWR) FY2020 results: revenue $844 million, up 34.5% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $844 million for fiscal 2020, the year ended 31 December 2020, up 34.5% on the year before. Net income was $164 million, up 51.0%, and diluted earnings per share $3.50. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$844 million
+34.5% on the year
FY2013FY2020
Operating margin
18.8%
16.3% a year earlier
FY2013FY2020
Net income
$164 million
+51.0% on the year
FY2013FY2020
Diluted EPS
$3.50
+47.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
844
628
582
+34.5%
Cost of revenue
378
282
260
+34.4%
Gross profit
466
346
323
+34.5%
Gross margin
55.2%
55.2%
55.4%
Research and development
138
108
93.5
+27.7%
Selling, general and administrative
162
134
114
+21.1%
Operating income
159
103
113
+54.9%
Operating margin
18.8%
16.3%
19.5%
Pre-tax income
169
113
118
+49.7%
Income tax
5.0
4.3
13.2
+16.0%
Effective tax rate
2.9%
3.8%
11.2%
Net income
164
109
105
+51.0%
Net margin
19.5%
17.3%
18.1%
Diluted EPS
$3.50
$2.38
$2.36
+47.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
268
216
141
+23.8%
Capital expenditure
55.6
95.8
22.5
-41.9%
Free cash flow
212
120
119
+76.1%
Free cash flow margin
25.1%
19.2%
20.4%
Cash from investing
-39.2
-167
-14.7
Cash from financing
-71.6
-48.0
-34.6
Depreciation and amortisation
19.2
14.9
12.3
+29.1%
Share-based compensation
85.6
78.7
60.6
+8.7%
Dividends paid
88.8
67.3
47.5
+31.9%
Dividend per share
$2.00
$1.60
$1.20
+25.0%
Diluted shares, weighted
47m
46m
45m
+2.7%
Shares outstanding at period end
45m
44m
43m
+3.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
967
773
640
+25.0%
Debt
n/a
n/a
0.0
Operating lease liabilities
n/a
n/a
0.0
Other liabilities
242
183
153
+32.3%
Total liabilities and equity
1,208
956
793
+26.4%
Fixed assets
282
228
150
+23.3%
Goodwill
6.6
6.6
6.6
0.0%
Intangible assets
n/a
n/a
0.1
Investments
263
286
208
-7.9%
Cash and equivalents
335
173
173
+93.7%
Receivables
66.8
52.7
55.2
+26.8%
Inventory
157
128
136
+23.2%
Other assets
98.5
82.8
64.6
+19.0%
Total assets
1,208
956
793
+26.4%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.