Stock Analysis on Net
Stock Analysis on Net

Monolithic Power Systems Inc. (NASDAQ:MPWR)

This company has been moved to the archive! The financial data has not been updated since May 5, 2023.

Price to FCFE (P/FCFE) 

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Free Cash Flow to Equity (FCFE)

Monolithic Power Systems Inc., FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net income 437,672 242,023 164,375 108,839 105,268
Net noncash charges 195,958 149,627 100,425 89,653 73,705
Changes in operating assets and liabilities (386,956) (71,640) 3,003 17,811 (37,522)
Net cash provided by operating activities 246,674 320,010 267,803 216,303 141,451
Purchases of property and equipment (58,843) (94,420) (55,610) (86,538) (22,526)
Free cash flow to equity (FCFE) 187,831 225,590 212,193 129,765 118,925

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Monolithic Power Systems Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Monolithic Power Systems Inc. FCFE increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Price to FCFE Ratio, Current

Monolithic Power Systems Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 47,423,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 187,831
FCFE per share 3.96
Current share price (P) 411.27
Valuation Ratio
P/FCFE 103.84
Benchmarks
P/FCFE, Competitors1
Advanced Micro Devices Inc. 237.14
Analog Devices Inc. 26.29
Applied Materials Inc. 22.95
Broadcom Inc. 37.53
Intel Corp. —
KLA Corp. 39.72
Lam Research Corp. 25.62
Micron Technology Inc. —
NVIDIA Corp. 89.71
ON Semiconductor Corp. 248.27
Qualcomm Inc. 20.98
Texas Instruments Inc. 46.13
P/FCFE, Sector
Semiconductors & Semiconductor Equipment 70.23
P/FCFE, Industry
Information Technology 43.10

Based on: 10-K (reporting date: 2022-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Monolithic Power Systems Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
No. shares of common stock outstanding1 47,305,000 46,509,000 45,621,000 44,602,000 42,916,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 187,831 225,590 212,193 129,765 118,925
FCFE per share3 3.97 4.85 4.65 2.91 2.77
Share price1, 4 483.06 461.44 389.05 158.64 136.18
Valuation Ratio
P/FCFE5 121.66 95.13 83.64 54.53 49.14
Benchmarks
P/FCFE, Competitors6
Advanced Micro Devices Inc. 33.46 44.72 133.51 — —
Analog Devices Inc. 24.14 34.67 33.98 37.52 50.53
Applied Materials Inc. 19.17 27.20 23.21 19.53 10.21
Broadcom Inc. 14.62 22.35 9.16 5.64 13.72
Intel Corp. — 14.25 8.57 16.55 —
KLA Corp. 9.01 28.05 19.15 9.84 39.74
Lam Research Corp. 24.95 34.58 16.89 6.14 14.02
Micron Technology Inc. 18.66 37.24 81.71 13.92 —
NVIDIA Corp. 54.83 35.20 44.23 30.19 —
ON Semiconductor Corp. 21.51 38.47 50.56 9.02 —
Qualcomm Inc. 19.13 17.93 34.91 16.39 —
Texas Instruments Inc. 23.88 21.87 24.10 18.77 —
P/FCFE, Sector
Semiconductors & Semiconductor Equipment 28.83 25.00 17.80 14.04 —
P/FCFE, Industry
Information Technology 26.56 27.30 23.29 18.92 —

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 187,831,000 ÷ 47,305,000 = 3.97

4 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.

5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= 483.06 ÷ 3.97 = 121.66

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Monolithic Power Systems Inc. P/FCFE ratio increased from 2020 to 2021 and from 2021 to 2022.