Current Ratio
since 2005
Calculation
Monolithic Power Systems Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 5.31 | = | 1,565,053) | ÷ | 294,567) |
| Dec 31, 2023 | 7.74 | = | 1,819,499) | ÷ | 235,035) |
| Dec 31, 2022 | 5.36 | = | 1,410,619) | ÷ | 263,400) |
| Dec 31, 2021 | 4.96 | = | 1,124,852) | ÷ | 226,944) |
| Dec 31, 2020 | 5.73 | = | 841,998) | ÷ | 146,969) |
| Dec 31, 2019 | 6.67 | = | 655,206) | ÷ | 98,225) |
| Dec 31, 2018 | 7.22 | = | 580,810) | ÷ | 80,439) |
| Dec 31, 2017 | 6.81 | = | 449,170) | ÷ | 65,917) |
| Dec 31, 2016 | 7.24 | = | 382,984) | ÷ | 52,921) |
| Dec 31, 2015 | 7.67 | = | 331,928) | ÷ | 43,283) |
| Dec 31, 2014 | 8.36 | = | 308,146) | ÷ | 36,861) |
| Dec 31, 2013 | 7.59 | = | 292,086) | ÷ | 38,489) |
| Dec 31, 2012 | 9.13 | = | 214,301) | ÷ | 23,460) |
| Dec 31, 2011 | 8.11 | = | 211,505) | ÷ | 26,070) |
| Dec 31, 2010 | 7.75 | = | 224,373) | ÷ | 28,970) |
| Dec 31, 2009 | 8.51 | = | 203,499) | ÷ | 23,922) |
| Dec 31, 2008 | 5.53 | = | 143,247) | ÷ | 25,882) |
| Dec 31, 2007 | 5.06 | = | 148,760) | ÷ | 29,412) |
| Dec 31, 2006 | 4.83 | = | 97,160) | ÷ | 20,122) |
| Dec 31, 2005 | 3.94 | = | 87,717) | ÷ | 22,267) |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The company maintains an exceptionally strong liquidity position over the analyzed period from 2005 to 2024, with current ratios consistently remaining well above standard benchmarks. This indicates a substantial cushion of liquid assets relative to short-term obligations.
- Growth in Current Assets
- Current assets demonstrated a long-term upward trajectory, growing from $87.7 million in 2005 to a peak of $1.82 billion in 2023. While a decrease to $1.57 billion occurred in 2024, the overall growth represents a significant expansion of the company's liquid resource base.
- Current Liability Evolution
- Current liabilities remained relatively stagnant for the first decade of the analysis, staying below $40 million until 2013. A more distinct upward trend emerged after 2018, with liabilities increasing from $98.2 million in 2018 to $294.6 million by 2024, suggesting an increase in short-term operational obligations or financing.
- Current Ratio Trends
- The current ratio experienced three primary phases. An initial expansion phase occurred between 2005 and 2012, where the ratio rose from 3.94 to a peak of 9.13. A subsequent normalization phase followed from 2013 to 2021, during which the ratio steadily declined to 4.96. The most recent period was marked by volatility, with a sharp increase to 7.74 in 2023 followed by a correction to 5.31 in 2024.
The overall pattern suggests a shift from a highly conservative liquidity posture in the early 2010s toward a more moderate, though still very strong, working capital management strategy. The extreme highs observed between 2009 and 2012 indicate a period of significant capital accumulation that far exceeded immediate liability requirements.
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Comparison to Competitors
Monolithic Power Systems Inc., current ratio, long-term trends, comparison to competitors
| Monolithic Power Systems Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 5.31 | 2.62 | 1.84 | 2.51 | 1.17 | 1.33 | 2.15 | 2.97 | 1.69 | 2.64 | 4.17 | 2.40 | 4.12 |
| Dec 31, 2023 | 7.74 | 2.51 | 1.37 | 2.60 | 2.82 | 1.54 | 2.24 | 3.16 | 1.37 | 4.46 | 3.52 | 2.33 | 4.55 |
| Dec 31, 2022 | 5.36 | 2.36 | 2.02 | 2.16 | 2.62 | 1.57 | 2.50 | 2.69 | 1.80 | 2.89 | 6.65 | 1.75 | 4.70 |
| Dec 31, 2021 | 4.96 | 2.02 | 1.94 | 2.54 | 2.64 | 2.10 | 2.71 | 3.30 | 1.50 | 3.10 | 4.09 | 1.68 | 5.33 |
| Dec 31, 2020 | 5.73 | 2.54 | 1.84 | 3.00 | 1.87 | 1.91 | 2.78 | 3.43 | 2.16 | 2.71 | 7.67 | 2.14 | 4.28 |
| Dec 31, 2019 | 6.67 | 1.95 | 1.32 | 2.30 | 1.44 | 1.40 | 2.44 | 3.61 | 2.19 | 2.58 | 7.94 | 1.88 | 4.13 |
| Dec 31, 2018 | 7.22 | 1.78 | 1.50 | 2.64 | 3.90 | 1.73 | 3.73 | 2.90 | 5.61 | 2.79 | 8.03 | 1.55 | 3.27 |
| Dec 31, 2017 | 6.81 | 1.76 | 1.47 | 3.14 | 6.26 | 1.69 | 3.40 | 3.10 | 4.59 | 2.34 | 4.77 | 4.00 | 3.87 |
| Dec 31, 2016 | 7.24 | 1.88 | 6.35 | 2.30 | 2.31 | 1.75 | 3.86 | 3.81 | 2.38 | 1.96 | 2.57 | 3.14 | 3.29 |
| Dec 31, 2015 | 7.67 | 1.65 | 3.66 | 2.44 | 3.37 | 2.58 | 3.90 | 2.38 | 5.25 | 2.20 | 6.38 | 3.62 | 2.77 |
| Dec 31, 2014 | 8.36 | 1.90 | 5.38 | 2.47 | 3.77 | 1.73 | 5.12 | 3.02 | 4.36 | 2.13 | 5.95 | 3.73 | 2.92 |
| Dec 31, 2013 | 7.59 | 1.78 | 9.59 | 2.31 | 4.30 | 2.36 | 5.05 | 2.70 | 4.25 | 2.16 | 4.89 | 3.75 | 2.92 |
| Dec 31, 2012 | 9.13 | 1.62 | 8.94 | 2.25 | 4.89 | 2.43 | 4.83 | 3.09 | 5.22 | 2.57 | 4.20 | 2.95 | 2.40 |
| Dec 31, 2011 | 8.11 | 1.82 | 8.35 | 3.71 | 3.98 | 2.15 | 4.17 | 4.79 | 5.79 | 2.35 | 3.42 | 2.70 | 2.24 |
| Dec 31, 2010 | 7.75 | 2.15 | 5.41 | 2.34 | 1.92 | 3.39 | 3.67 | 3.14 | 4.35 | 2.34 | 3.16 | 2.22 | 3.56 |
| Dec 31, 2009 | 8.51 | 1.93 | 6.44 | 2.93 | 1.36 | 2.79 | 4.25 | 3.51 | 3.81 | 1.77 | 2.78 | 4.47 | 3.85 |
| Dec 31, 2008 | 5.53 | 1.07 | 3.67 | 2.26 | — | 2.54 | 3.19 | 3.01 | 2.58 | 2.36 | 2.99 | 5.12 | 3.78 |
| Dec 31, 2007 | 5.06 | 1.45 | 3.61 | 2.78 | — | 2.79 | 3.03 | 2.11 | 1.90 | 2.58 | 3.18 | 3.91 | 3.42 |
| Dec 31, 2006 | 4.83 | 1.39 | 6.13 | 2.50 | — | 2.15 | 3.53 | 3.01 | 4.51 | 3.07 | 3.53 | 4.96 | 3.78 |
| Dec 31, 2005 | 3.94 | 1.95 | 4.56 | 5.35 | — | 2.30 | 3.44 | 3.28 | 4.74 | 2.99 | 3.10 | 7.28 | 3.92 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Monolithic Power Systems Inc., current ratio, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Monolithic Power Systems Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2024 | 5.31 | 2.14 |
| Dec 31, 2023 | 7.74 | 2.42 |
| Dec 31, 2022 | 5.36 | 2.33 |
| Dec 31, 2021 | 4.96 | 2.45 |
| Dec 31, 2020 | 5.73 | 2.46 |
| Dec 31, 2019 | 6.67 | 2.04 |
| Dec 31, 2018 | 7.22 | 2.34 |
| Dec 31, 2017 | 6.81 | 2.92 |
| Dec 31, 2016 | 7.24 | 2.38 |
| Dec 31, 2015 | 7.67 | 2.86 |
| Dec 31, 2014 | 8.36 | 2.61 |
| Dec 31, 2013 | 7.59 | 2.89 |
| Dec 31, 2012 | 9.13 | 2.80 |
| Dec 31, 2011 | 8.11 | 2.73 |
| Dec 31, 2010 | 7.75 | 2.92 |
| Dec 31, 2009 | 8.51 | 3.02 |
| Dec 31, 2008 | 5.53 | 2.79 |
| Dec 31, 2007 | 5.06 | 2.78 |
| Dec 31, 2006 | 4.83 | 2.74 |
| Dec 31, 2005 | 3.94 | 3.23 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Monolithic Power Systems Inc., current ratio, long-term trends, comparison to industry (information technology)
| Monolithic Power Systems Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2024 | 5.31 | 1.24 |
| Dec 31, 2023 | 7.74 | 1.41 |
| Dec 31, 2022 | 5.36 | 1.37 |
| Dec 31, 2021 | 4.96 | 1.55 |
| Dec 31, 2020 | 5.73 | 1.71 |
| Dec 31, 2019 | 6.67 | 1.66 |
| Dec 31, 2018 | 7.22 | 1.88 |
| Dec 31, 2017 | 6.81 | 2.04 |
| Dec 31, 2016 | 7.24 | 2.01 |
| Dec 31, 2015 | 7.67 | 2.04 |
| Dec 31, 2014 | 8.36 | 1.98 |
| Dec 31, 2013 | 7.59 | 2.20 |
| Dec 31, 2012 | 9.13 | 2.08 |
| Dec 31, 2011 | 8.11 | 2.12 |
| Dec 31, 2010 | 7.75 | 2.02 |
| Dec 31, 2009 | 8.51 | 2.04 |
| Dec 31, 2008 | 5.53 | 1.80 |
| Dec 31, 2007 | 5.06 | 1.79 |
| Dec 31, 2006 | 4.83 | 1.86 |
| Dec 31, 2005 | 3.94 | 2.02 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).