Monolithic Power Systems (MPWR) FY2023 results: revenue $1.8 billion, up 1.5% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $1.8 billion for fiscal 2023, the year ended 31 December 2023, up 1.5% on the year before. Net income was $427 million, down 2.4%, and diluted earnings per share $8.76. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$1.8 billion
+1.5% on the year
FY2016FY2023
Operating margin
26.5%
29.4% a year earlier
FY2016FY2023
Net income
$427 million
-2.4% on the year
FY2016FY2023
Diluted EPS
$8.76
-3.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
638
247
320
+158.7%
Capital expenditure
57.6
58.8
94.4
-2.1%
Free cash flow
581
188
226
+209.1%
Free cash flow margin
31.9%
10.5%
18.7%
Cash from investing
-179
-12.5
-379
Cash from financing
-184
-129
-90.2
Depreciation and amortisation
40.2
37.1
28.7
+8.2%
Share-based compensation
150
161
123
-7.0%
Buybacks
3.7
0.0
0.0
Dividends paid
186
138
109
+34.7%
Dividend per share
$4.00
$3.00
$2.40
+33.3%
Diluted shares, weighted
49m
48m
48m
+0.9%
Shares outstanding at period end
48m
47m
46m
+2.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,050
1,669
1,244
+22.9%
Debt
0.0
n/a
0.0
Operating lease liabilities
5.6
1.7
n/a
+234.4%
Other liabilities
379
389
342
-2.5%
Total liabilities and equity
2,434
2,059
1,586
+18.2%
Fixed assets
369
357
363
+3.3%
Goodwill
6.6
6.6
6.6
0.0%
Intangible assets
0.0
n/a
n/a
Investments
581
451
538
+28.9%
Cash and equivalents
528
289
189
+82.9%
Receivables
180
183
105
-1.6%
Inventory
384
447
259
-14.2%
Other assets
386
326
125
+18.6%
Total assets
2,434
2,059
1,586
+18.2%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.