Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Current Valuation Ratios
Monolithic Power Systems Inc., current price multiples
| Monolithic Power Systems Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | Information Technology | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||
| Current share price (P) | |||||||||||||||||
| No. shares of common stock outstanding | |||||||||||||||||
| Growth rate (g) | |||||||||||||||||
| Earnings per share (EPS) | |||||||||||||||||
| Next year expected EPS | |||||||||||||||||
| Operating profit per share | |||||||||||||||||
| Sales per share | |||||||||||||||||
| Book value per share (BVPS) | |||||||||||||||||
| Valuation Ratios (Price Multiples) | |||||||||||||||||
| Price to earnings (P/E) | |||||||||||||||||
| Price to next year expected earnings | |||||||||||||||||
| Price-earnings-growth (PEG) | |||||||||||||||||
| Price to operating profit (P/OP) | |||||||||||||||||
| Price to sales (P/S) | |||||||||||||||||
| Price to book value (P/BV) | |||||||||||||||||
Based on: 10-K (reporting date: 2024-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Monolithic Power Systems Inc., historical price multiples
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
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 analysis of the financial valuation ratios over the observed periods reveals notable fluctuations and an overall declining trend in valuation multiples by the end of the final period.
- Price to Earnings (P/E) Ratio
- Throughout the periods, the P/E ratio exhibits a generally decreasing pattern, declining sharply from a very high level of 107.98 in 2020 to 15.51 in 2024. While the ratio decreases from 2020 to 2022, it experiences a temporary increase in 2023, rising to 81.98 before significantly dropping to its lowest point. This suggests a reduced market valuation relative to earnings in the latest period, potentially reflecting improved earnings performance or a market reassessment of the stock's profit prospects.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio mirrors a similar decreasing trend trend, starting at 111.71 in 2020 and descending to 51.38 by 2024. There is a decline in 2021 and 2022, followed by an increase in 2023, then a further decline in 2024. This pattern indicates fluctuating market valuation related to operating profits, with the final figure suggesting a more conservative valuation relative to operating earnings than in previous years.
- Price to Sales (P/S) Ratio
- The P/S ratio decreases from 21.02 in 2020 to 12.56 in 2024, despite a noticeable increase in 2023. This ratio's movement implies that investors have progressively assigned a lower sales multiple to the company, with the exception of 2023, where valuation multiples briefly rose before resuming the downward trend.
- Price to Book Value (P/BV) Ratio
- Similarly, the P/BV ratio shows a decreasing trend, dropping from 18.36 in 2020 to 8.81 in 2024. There is a consistent decline from 2021 to 2022, a spike in 2023, and then a significant reduction in 2024. This trend indicates a reduction in market valuation relative to the company's book value by the end of the period, with a temporary revaluation in 2023.
Price to Earnings (P/E)
Monolithic Power Systems Inc., historical P/E calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income (in thousands) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| Intel Corp. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
| P/E Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | ||||||
| P/E Ratio, Industry | ||||||
| Information Technology | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
EPS = Net income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated an overall upward trend from 2020 to 2023, increasing from 389.05 US$ to 720.04 US$. In 2024, there was a notable decline to 578.92 US$, which, despite the fall, remained higher than the initial value in 2020. This pattern suggests considerable growth over the period, with a peak in 2023 followed by a correction or adjustment in 2024.
- Earnings per Share (EPS)
- EPS showed strong growth throughout the period, beginning at 3.6 US$ in 2020 and increasing steadily each year until 2022. After a slight decrease in 2023, EPS surged significantly in 2024 to 37.33 US$, representing a dramatic increase. This sharp rise in EPS in the final year highlights a substantial improvement in profitability per share.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio trended downward from 107.98 in 2020 to 52.21 in 2022, indicating that stock price growth was not keeping pace with the increase in earnings per share during that period. In 2023, the P/E ratio rose again to 81.98, implying that the share price increased faster relative to earnings. However, in 2024, the P/E ratio dropped sharply to 15.51, reflecting the strong surge in EPS relative to the share price. This suggests the stock became comparatively more attractively valued in terms of earnings in the most recent year.
Price to Operating Profit (P/OP)
Monolithic Power Systems Inc., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (in thousands) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| Intel Corp. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
| P/OP Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | ||||||
| P/OP Ratio, Industry | ||||||
| Information Technology | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The data reveals notable fluctuations in the financial performance and market valuation of the company over the observed periods.
- Share Price
- The share price demonstrates an overall upward trend from 389.05 US$ at the end of 2020 to a peak of 720.04 US$ at the end of 2023, reflecting significant appreciation. However, there is a subsequent decline to 578.92 US$ by the end of 2024, indicating a correction or market reassessment.
- Operating Profit per Share
- Operating profit per share shows consistent growth over the years. Starting from 3.48 US$ in 2020, it rises sharply to 11.14 US$ by 2022, then experiences a slight dip to 9.9 US$ in 2023, before recovering to 11.27 US$ in 2024. This pattern suggests strong operational profitability with minor short-term variations.
- Price-to-Operating Profit (P/OP) Ratio
- The P/OP ratio, which assesses the valuation relative to operating profit per share, declines markedly from 111.71 in 2020 to 43.38 in 2022, indicating increasing investor confidence or improving earnings. However, it rises again to 72.73 in 2023 and then adjusts downward to 51.38 in 2024, mirroring the share price volatility and reflecting changing market sentiment or valuation benchmarks.
In summary, the company experienced substantial growth in operational profitability. The market price reacted strongly with notable appreciation until 2023, followed by a partial pullback. The P/OP ratio trends suggest improved earnings quality and valuation adjustments aligning with the share price movements, indicating a dynamic interplay between market perception and financial performance.
Price to Sales (P/S)
Monolithic Power Systems Inc., historical P/S calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Revenue (in thousands) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| Intel Corp. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
| P/S Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | ||||||
| P/S Ratio, Industry | ||||||
| Information Technology | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share price
- The share price exhibited an overall upward trend from 2020 to 2024, rising from $389.05 to a peak of $720.04 in 2023 before decreasing to $578.92 in 2024. This pattern indicates significant growth in valuation up to 2023, followed by a notable correction in the subsequent year.
- Sales per share
- Sales per share showed consistent growth throughout the analyzed period, increasing from $18.51 in 2020 to $46.11 in 2024. The growth was particularly strong between 2021 and 2022, after which sales per share stabilized slightly before continuing to rise in 2024. This suggests steady revenue expansion relative to the shareholder base.
- Price-to-Sales (P/S) Ratio
- The P/S ratio fluctuated significantly during the period. It declined from 21.02 in 2020 to its lowest point of 12.74 in 2022, then increased sharply to 19.24 in 2023, before dropping again to 12.56 in 2024. These changes imply variation in market expectations and valuation relative to sales, with a peak valuation relative to sales coinciding with the highest share price in 2023, followed by a return to more conservative valuation levels in 2024.
Price to Book Value (P/BV)
Monolithic Power Systems Inc., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Stockholders’ equity (in thousands) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| Intel Corp. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
| P/BV Ratio, Sector | ||||||
| Semiconductors & Semiconductor Equipment | ||||||
| P/BV Ratio, Industry | ||||||
| Information Technology | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monolithic Power Systems Inc. Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated an overall upward trajectory from 2020 to 2023, increasing from $389.05 to a peak of $720.04. However, in 2024, there was a notable decline to $578.92, indicating some price correction or reduced market optimism after the significant rise the previous year.
- Book Value per Share (BVPS) Trend
- Book value per share consistently increased each year, from $21.19 in 2020 to $65.72 in 2024. This steady rise reflects strengthening net asset value on a per-share basis, suggesting improvements in the company’s equity position and retained earnings over the period analyzed.
- Price-to-Book Value (P/BV) Ratio Trend
- The P/BV ratio experienced fluctuations, starting high at 18.36 in 2020, declining steadily to 13.69 in 2022, then rising again to 17.09 in 2023 before dropping sharply to 8.81 in 2024. This pattern indicates changing market valuation relative to book value. The sharp decline in 2024 suggests that the market price was less elevated compared to the company’s book value, potentially reflecting a correction in market sentiment or improved balance sheet strength diluting the market premium.
- Overall Insights
- The combination of increasing book value per share and a fluctuating share price led to variability in market valuation multiples. The strong rise in share price through 2023 points to positive investor sentiment up to that year, while the subsequent price drop and reduced P/BV ratio in 2024 indicate a period of valuation adjustment. The continuous growth in BVPS over the five years points to solid financial fundamentals supporting the equity base itself.