Monolithic Power Systems
ConvictionModerate
Fabless chip designer using a proprietary BCD process on standard third-party CMOS foundries; largely in-house automated final test; sells silicon + integrated power modules into computing/AI, automotive, industrial, communications, storage and consumer end markets via direct + distribution.
Revenue
$2.79B FY2025~$2.96B TTM through Q1 FY26Rev growth
+26.4% FY2025 YoYFY24 +21.2%); Q1 FY26 record $804.2M, +26.1% YoY / +7.1% QoQGross margin
~55.2% GAAP FY202555.5% non-GAAP, held four straight quarters); Q2 FY26 guide ~55.1-55.7%Op margin
~26.5% GAAP FY2025Capex intensity
Low - fabless model keeps capex to low-to-mid single-digit % of revenuespend skews to test capacity, not fabsMarket cap
~$63.36BNasdaq: MPWR, Jul 6, 2026The read
Where our coverage leans
Coverage leans bullish
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Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (financials Q1 FY26 reported Apr 30 2026 / FY2025 full-year 8-K; price+mktcap Jul 6 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence