Analysis of Inventory
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- Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Inventory Disclosure
Monolithic Power Systems Inc., balance sheet: inventory
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The annual financial figures for inventories and their components reveal notable trends over the five-year period ending in 2024.
- Raw Materials
- The value of raw materials increased gradually from 25,503 thousand US dollars in 2020 to 29,478 thousand in 2021. However, it then sharply rose to a peak of 126,760 thousand in 2022, followed by a slight decline to 118,917 thousand in 2023 and a further significant decrease to 91,851 thousand in 2024. This pattern indicates fluctuating procurement or stockpiling behavior, with a pronounced build-up in 2022 before reduction in subsequent years.
- Work in Process (WIP)
- Work in process inventory exhibited a strong upward trend from 77,100 thousand US dollars in 2020 to 130,029 thousand in 2021. It continued to rise marginally to 134,071 thousand in 2022, then dipped to 112,750 thousand in 2023 before a substantial increase to 169,982 thousand in 2024. This suggests variations in production stages or throughput efficiency, with a notable accumulation of WIP inventory in the latest year.
- Finished Goods
- Finished goods inventory experienced steady year-over-year growth from 54,459 thousand US dollars in 2020 to a high of 186,459 thousand in 2022. Afterwards, it declined somewhat to 152,035 thousand in 2023 but increased slightly again to 157,778 thousand in 2024. This trend implies a build-up of completed products ready for sale, potentially reflecting production exceeding sales in certain periods or strategic inventory holding.
- Total Inventories
- The aggregated inventory value increased substantially from 157,062 thousand US dollars in 2020 to 259,417 thousand in 2021 and then surged to 447,290 thousand in 2022. After a decline to 383,702 thousand in 2023, inventories rebounded to 419,611 thousand in 2024. Overall, total inventories more than doubled within the five-year span, highlighting significant expansion in stock levels, with the most considerable jump occurring between 2021 and 2022.
In summary, the inventory components demonstrate significant volatility and growth, especially between 2021 and 2022, with some normalization or reduction in 2023 followed by partial recovery in 2024. The patterns suggest changing dynamics in supply chain management, production workflows, and sales rates over the observed period.