Name: Monolithic Power Systems Inc. (NASDAQ:MPWR) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Monolithic Power Systems Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	691,816)	527,843)	288,607)	189,265)	334,944)
Short-term investments	171,130)	580,633)	449,266)	535,817)	260,169)
Accounts receivable, net	172,518)	179,858)	182,714)	104,813)	66,843)
Inventories	419,611)	383,702)	447,290)	259,417)	157,062)
Other receivables	60,000)	50,000)	—)	—)	—)
Prepaid expense	36,083)	28,964)	11,045)	9,526)	5,032)
RSU tax withholding proceeds receivable	10)	20,141)	14,480)	16,224)	12,504)
Restricted cash	—)	33,204)	—)	—)	—)
Other	13,885)	15,154)	17,217)	9,790)	5,444)
Other current assets	109,978)	147,463)	42,742)	35,540)	22,980)
Current assets	1,565,053)	1,819,499)	1,410,619)	1,124,852)	841,998)
Property and equipment, net	494,945)	368,952)	357,157)	362,962)	281,528)
Acquisition-related intangible assets, net	9,938)	—)	—)	—)	—)
Goodwill	25,944)	6,571)	6,571)	6,571)	6,571)
Deferred tax assets, net	1,326,840)	28,054)	35,252)	21,917)	18,556)
Deferred compensation plan assets	92,586)	78,381)	63,022)	53,172)	46,146)
Prepaid wafer purchases	60,000)	120,000)	170,000)	—)	—)
Operating lease ROU and related assets	34,198)	8,355)	4,288)	6,297)	3,719)
Other	7,593)	4,541)	11,976)	10,054)	9,973)
Other long-term assets	194,377)	211,277)	249,286)	69,523)	59,838)
Long-term assets	2,052,044)	614,854)	648,266)	460,973)	366,493)
Total assets	3,617,097)	2,434,353)	2,058,885)	1,585,825)	1,208,491)

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).

Total assets exhibited a consistent upward trajectory from 2020 to 2024, growing from 1.21 billion US dollars to 3.62 billion US dollars. This growth was characterized by steady expansion through 2023, followed by a substantial acceleration in 2024, primarily driven by a significant increase in long-term assets.

Liquidity and Cash Management: Cash and cash equivalents demonstrated strong growth, increasing from 334.9 million US dollars in 2020 to 691.8 million US dollars in 2024. While short-term investments peaked at 580.6 million US dollars in 2023, there was a sharp reduction to 171.1 million US dollars by the end of 2024, suggesting a shift in treasury strategy toward higher immediate liquidity.
Operational Working Capital: Inventories rose significantly from 157.1 million US dollars in 2020 to 419.6 million US dollars in 2024, reflecting an expansion in operational scale or strategic stockpiling. Accounts receivable, net, grew from 66.8 million US dollars in 2020 and stabilized between 172 million and 182 million US dollars from 2022 through 2024. Current assets peaked in 2023 at 1.82 billion US dollars before moderating to 1.57 billion US dollars in 2024.
Fixed and Intangible Assets: Property and equipment, net, showed a steady increase over the period, with a notable jump in 2024 to 494.9 million US dollars, indicating increased capital expenditure. The appearance of acquisition-related intangible assets of 9.9 million US dollars and a rise in goodwill from 6.6 million US dollars to 25.9 million US dollars in 2024 suggests inorganic growth through acquisition activity during the final year of the period.
Long-term Asset Anomalies: A disproportionate increase in long-term assets occurred in 2024, rising to 2.05 billion US dollars from 614.9 million US dollars in 2023. This surge is almost entirely attributable to deferred tax assets, net, which escalated from 28.1 million US dollars in 2023 to 1.33 billion US dollars in 2024, representing a fundamental shift in the balance sheet composition.

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