Price to Sales (P/S)
since 2005
Calculation
Monolithic Power Systems Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenue1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 3, 2025 | 12.56 | = | 578.92 | ÷ | 46.11 | 46.11 | = | 2,207,100 | ÷ | 47,866,000 | |
| Nov 6, 2024 | 20.98 | = | 785.29 | ÷ | 37.42 | 37.42 | = | 1,821,072 | ÷ | 48,661,000 | |
| Feb 24, 2023 | 12.74 | = | 483.06 | ÷ | 37.93 | 37.93 | = | 1,794,148 | ÷ | 47,305,000 | |
| Feb 25, 2022 | 17.77 | = | 461.44 | ÷ | 25.97 | 25.97 | = | 1,207,798 | ÷ | 46,509,000 | |
| Mar 1, 2021 | 21.02 | = | 389.05 | ÷ | 18.51 | 18.51 | = | 844,452 | ÷ | 45,621,000 | |
| Feb 28, 2020 | 11.27 | = | 158.64 | ÷ | 14.08 | 14.08 | = | 627,921 | ÷ | 44,602,000 | |
| Mar 1, 2019 | 10.04 | = | 136.18 | ÷ | 13.57 | 13.57 | = | 582,382 | ÷ | 42,916,000 | |
| Mar 1, 2018 | 10.36 | = | 115.77 | ÷ | 11.18 | 11.18 | = | 470,929 | ÷ | 42,132,242 | |
| Mar 1, 2017 | 9.47 | = | 89.44 | ÷ | 9.44 | 9.44 | = | 388,665 | ÷ | 41,171,970 | |
| Feb 29, 2016 | 7.13 | = | 59.06 | ÷ | 8.29 | 8.29 | = | 333,067 | ÷ | 40,199,618 | |
| Mar 2, 2015 | 7.53 | = | 54.16 | ÷ | 7.19 | 7.19 | = | 282,535 | ÷ | 39,290,882 | |
| Mar 10, 2014 | 5.98 | = | 36.80 | ÷ | 6.15 | 6.15 | = | 238,091 | ÷ | 38,686,172 | |
| Mar 5, 2013 | 4.19 | = | 24.55 | ÷ | 5.86 | 5.86 | = | 213,813 | ÷ | 36,501,530 | |
| Mar 12, 2012 | 3.17 | = | 18.20 | ÷ | 5.75 | 5.75 | = | 196,519 | ÷ | 34,185,705 | |
| Mar 4, 2011 | 2.44 | = | 15.10 | ÷ | 6.20 | 6.20 | = | 218,840 | ÷ | 35,315,748 | |
| Feb 16, 2010 | 4.63 | = | 21.66 | ÷ | 4.68 | 4.68 | = | 165,008 | ÷ | 35,235,634 | |
| Feb 27, 2009 | 2.73 | = | 12.95 | ÷ | 4.74 | 4.74 | = | 160,511 | ÷ | 33,836,887 | |
| Mar 11, 2008 | 4.20 | = | 16.70 | ÷ | 3.97 | 3.97 | = | 134,004 | ÷ | 33,722,501 | |
| Mar 16, 2007 | 3.96 | = | 13.33 | ÷ | 3.36 | 3.36 | = | 105,015 | ÷ | 31,210,854 | |
| Mar 28, 2006 | 4.65 | = | 15.75 | ÷ | 3.38 | 3.38 | = | 99,131 | ÷ | 29,297,785 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.
The analysis of the Price to Sales (P/S) ratio reveals a long-term trend of valuation expansion, characterized by three distinct phases of market perception and revenue growth.
- Initial Stability and Fluctuation (2006–2012)
- During the early period, the P/S ratio remained relatively constrained, fluctuating between a low of 2.44 in 2011 and a high of 4.65 in 2006. This phase was marked by moderate growth in sales per share, which rose from $3.38 to $5.75, while share prices experienced volatility without establishing a definitive long-term upward trajectory.
- Consistent Valuation Growth (2013–2020)
- A sustained increase in market valuation is observed starting in 2013. The P/S ratio rose consistently from 4.19 in 2013 to 11.27 by February 2020. This expansion indicates that the share price grew significantly faster than the corresponding sales per share, suggesting increased investor confidence in future growth prospects or a fundamental shift in the perceived quality of earnings.
- Extreme Volatility and Peak Valuations (2021–2025)
- The most recent period is characterized by significant valuation spikes and subsequent corrections. The P/S ratio peaked at 21.02 in 2021 and reached a similar height of 20.98 in November 2024. These peaks were interspersed with notable corrections, such as the drop to 12.74 in 2023 and 12.56 in March 2025. Despite these fluctuations, the P/S ratio remains substantially higher than the historical averages observed prior to 2020.
- Revenue Growth Correlation
- Sales per share have exhibited a strong and consistent upward trend, growing from $3.38 in 2006 to $46.11 in 2025. The divergence between the steady growth of sales and the more aggressive growth of the share price accounts for the overall increase in the P/S ratio over the observed period.
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Comparison to Competitors
Monolithic Power Systems Inc., P/S, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 3, 2025 | 12.56 | 7.04 | 11.53 | 5.07 | 20.07 | 1.58 | 9.64 | 6.95 | 10.63 | 4.51 | 27.69 | 4.93 | 10.65 |
| Nov 6, 2024 | 20.98 | 11.95 | 7.31 | 5.08 | 14.46 | 3.40 | 6.47 | 4.99 | 5.92 | 4.94 | 21.33 | 3.45 | 8.26 |
| Feb 24, 2023 | 12.74 | 5.38 | 7.14 | 3.43 | 7.00 | 1.85 | 6.09 | 3.68 | 12.40 | 1.87 | 24.67 | 2.85 | 8.25 |
| Feb 25, 2022 | 17.77 | 8.76 | 12.98 | 5.63 | 9.55 | 2.66 | 7.80 | 5.62 | 10.92 | 2.83 | 20.41 | 4.62 | 8.63 |
| Mar 1, 2021 | 21.02 | 10.63 | 9.03 | 4.69 | 7.40 | 2.96 | 5.43 | 5.43 | 4.66 | 2.73 | 17.31 | 6.20 | 10.81 |
| Feb 28, 2020 | 11.27 | 8.59 | 7.06 | 3.75 | 5.62 | 4.07 | 4.74 | 3.10 | 4.47 | 2.15 | 8.05 | 3.98 | 8.54 |
| Mar 1, 2019 | 10.04 | 3.58 | 5.35 | 1.87 | 4.78 | 3.09 | 4.58 | 2.51 | 4.33 | 1.58 | 15.07 | 3.37 | 6.38 |
| Mar 1, 2018 | 10.36 | 2.28 | 6.40 | 3.82 | 6.07 | 3.39 | 4.00 | 3.25 | 3.40 | 2.30 | 8.76 | 3.54 | 6.83 |
| Mar 1, 2017 | 9.47 | 3.08 | 6.57 | 3.29 | 5.48 | 2.90 | 4.06 | 2.46 | 2.12 | 1.44 | 3.55 | 4.21 | 5.77 |
| Feb 29, 2016 | 7.13 | 0.38 | 5.49 | 2.26 | 5.69 | 2.44 | 2.93 | 2.17 | 2.08 | 1.12 | 2.68 | 3.58 | 4.06 |
| Mar 2, 2015 | 7.53 | 0.43 | 6.04 | 3.29 | 6.06 | 2.91 | 4.08 | 2.50 | 2.26 | 2.12 | 2.36 | 4.85 | 4.73 |
| Mar 10, 2014 | 5.98 | 0.51 | 5.90 | 2.66 | 5.11 | 2.34 | 3.40 | 2.10 | 1.68 | 1.94 | 1.84 | 4.74 | 3.95 |
| Mar 5, 2013 | 4.19 | 0.34 | 4.48 | 1.48 | 3.33 | 1.96 | 2.73 | 2.39 | 2.70 | 0.67 | 2.28 | 5.18 | 2.94 |
| Mar 12, 2012 | 3.17 | 0.79 | 3.32 | 1.38 | 3.01 | 2.47 | 1.90 | 1.38 | 2.83 | 0.62 | 2.94 | 5.86 | 2.78 |
| Mar 4, 2011 | 2.44 | 0.97 | 3.89 | 1.86 | 3.05 | 2.79 | 2.98 | 2.18 | 4.65 | 0.91 | 3.00 | 6.72 | 2.99 |
| Feb 16, 2010 | 4.63 | 0.99 | 4.31 | 3.58 | 2.65 | 3.28 | 3.50 | 3.47 | 1.98 | 1.21 | 1.58 | 7.03 | 2.89 |
| Feb 27, 2009 | 2.73 | 0.22 | 1.91 | 1.71 | — | 1.79 | 2.60 | 1.94 | 2.31 | 0.44 | 2.71 | 4.91 | 1.56 |
| Mar 11, 2008 | 4.20 | 0.72 | 3.67 | 2.52 | — | 3.08 | 4.24 | 1.86 | 4.75 | 1.30 | 3.31 | 7.33 | 2.99 |
| Mar 16, 2007 | 3.96 | 1.45 | 4.48 | 2.77 | — | 3.40 | 4.75 | 3.56 | 10.06 | 2.00 | 3.53 | 7.98 | 3.13 |
| Mar 28, 2006 | 4.65 | 3.34 | 5.79 | 4.36 | — | 3.11 | 4.66 | 2.66 | 7.86 | 1.76 | 2.13 | 11.70 | 3.57 |
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., P/S, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Monolithic Power Systems Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Mar 3, 2025 | 12.56 | 11.73 |
| Nov 6, 2024 | 20.98 | 8.21 |
| Feb 24, 2023 | 12.74 | 5.92 |
| Feb 25, 2022 | 17.77 | 6.36 |
| Mar 1, 2021 | 21.02 | 5.78 |
| Feb 28, 2020 | 11.27 | 4.71 |
| Mar 1, 2019 | 10.04 | 3.84 |
| Mar 1, 2018 | 10.36 | 4.12 |
| Mar 1, 2017 | 9.47 | 3.57 |
| Feb 29, 2016 | 7.13 | 2.78 |
| Mar 2, 2015 | 7.53 | 3.39 |
| Mar 10, 2014 | 5.98 | 2.97 |
| Mar 5, 2013 | 4.19 | 2.50 |
| Mar 12, 2012 | 3.17 | 2.61 |
| Mar 4, 2011 | 2.44 | 2.95 |
| Feb 16, 2010 | 4.63 | 3.36 |
| Feb 27, 2009 | 2.73 | 2.02 |
| Mar 11, 2008 | 4.20 | 3.21 |
| Mar 16, 2007 | 3.96 | 3.67 |
| Mar 28, 2006 | 4.65 | 3.95 |
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., P/S, long-term trends, comparison to industry (information technology)
| Monolithic Power Systems Inc. | Information Technology | |
|---|---|---|
| Mar 3, 2025 | 12.56 | 9.30 |
| Nov 6, 2024 | 20.98 | 7.31 |
| Feb 24, 2023 | 12.74 | 6.01 |
| Feb 25, 2022 | 17.77 | 6.98 |
| Mar 1, 2021 | 21.02 | 6.11 |
| Feb 28, 2020 | 11.27 | 4.62 |
| Mar 1, 2019 | 10.04 | 4.31 |
| Mar 1, 2018 | 10.36 | 4.18 |
| Mar 1, 2017 | 9.47 | 3.46 |
| Feb 29, 2016 | 7.13 | 3.03 |
| Mar 2, 2015 | 7.53 | 3.31 |
| Mar 10, 2014 | 5.98 | 2.85 |
| Mar 5, 2013 | 4.19 | 2.88 |
| Mar 12, 2012 | 3.17 | 2.84 |
| Mar 4, 2011 | 2.44 | 3.04 |
| Feb 16, 2010 | 4.63 | 3.11 |
| Feb 27, 2009 | 2.73 | 2.38 |
| Mar 11, 2008 | 4.20 | 5.73 |
| Mar 16, 2007 | 3.96 | 5.21 |
| Mar 28, 2006 | 4.65 | 5.62 |
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).