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Fabless·MPWR

Monolithic Power Systems, Inc.

NASDAQ · US

Fabless power management IC designer with AI server and high-performance compute exposure.

AI relevance

Power delivery silicon for AI servers and accelerators.

Fabless DC Infra Other Other

Price

$1563.70

Change

+115.49 (+7.97%)

Market cap

$76.8B

52w range

$671–$1714

Exchange

NASDAQ

Country

Jason's Chips

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Price chart

MPWR market performance

Daily close for Monolithic Power Systems, Inc.

Latest close: $1,564
Range move: +$870.5 (+125.6%)
Range high: $1,690
Range low: $685.9
Latest volume: 1.9M
Source: FMP EOD

Downloads

Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

69 rows

Available earnings-call transcript dates by fiscal year and quarter.

Download

StreetBuy

Analyst expectations

Consensus target

$1615.00

+3.3%

Target range

$1200.00 - $2000.00

Rating mix

Buy

25 ratings

Next FY revenue

$3.70B

2026-12-31

Next FY EPS

$23.98

$23.60 - $24.84

Rating consensus25 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$3.70B	$3.66B - $3.77B	$23.98	$23.60 - $24.84	$1.06B	$983.3M	$1.17B	$603.4M	12 rev / 10 EPS
2027-12-31	$4.53B	$4.30B - $4.79B	$30.17	$28.59 - $33.14	$1.30B	$1.20B	$1.49B	$738.7M	11 rev / 9 EPS
2028-12-31	$5.21B	$5.19B - $5.23B	$35.04	$31.31 - $40.17	$1.49B	$1.39B	$1.73B	$850.3M	6 rev / 4 EPS
2029-12-31	$6.03B	$5.80B - $6.34B	$41.25	$39.29 - $44.09	$1.72B	$1.60B	$1.99B	$983.4M	5 rev / 2 EPS
2030-12-31	$6.80B	$6.55B - $7.16B	$46.75	$44.53 - $49.97	$1.95B	$1.81B	$2.26B	$1.11B	3 rev / 2 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-30	$901.3M	$900.3M - $903.3M	$5.85	$5.83 - $5.87	$258.0M	$239.7M	$288.0M	$147.1M	10 rev / 10 EPS
2026-09-30	$979.7M	$959.7M - $1.00B	$6.40	$6.18 - $6.59	$280.4M	$260.6M	$315.3M	$159.9M	10 rev / 10 EPS
2026-12-31	$1.01B	$995.9M - $1.03B	$6.62	$6.49 - $6.81	$289.6M	$269.1M	$326.0M	$165.1M	5 rev / 4 EPS
2027-03-31	$1.02B	$1.01B - $1.05B	$6.69	$6.55 - $6.88	$293.3M	$272.5M	$329.3M	$167.2M	5 rev / 4 EPS
2027-06-30	$1.09B	$1.07B - $1.11B	$7.21	$7.06 - $7.42	$311.1M	$289.1M	$354.9M	$177.4M	5 rev / 4 EPS
2027-09-30	$1.18B	$1.16B - $1.20B	$7.94	$7.77 - $8.17	$336.5M	$312.7M	$390.7M	$191.9M	5 rev / 4 EPS
2027-12-31	$1.21B	$1.19B - $1.23B	$8.18	$8.01 - $8.41	$345.4M	$321.0M	$402.6M	$197.0M	5 rev / 4 EPS
2028-03-31	$1.20B	$1.19B - $1.23B	$7.94	$7.78 - $8.17	$344.6M	$320.2M	$391.0M	$196.5M	4 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	0	$0.00
Last quarter	6	$1734.17
Last year	21	$1371.24
All time	38	$1069.55

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-05-01	Wells Fargo	Maintain	Overweight	Overweight
2026-05-01	TD Cowen	Maintain	Buy	Buy
2026-05-01	Keybanc	Maintain	Overweight	Overweight
2026-05-01	Needham	Maintain	Buy	Buy
2026-05-01	Rosenblatt	Maintain	Neutral	Neutral
2026-04-16	Stifel	Maintain	Buy	Buy
2026-02-09	Citigroup	Maintain	Buy	Buy
2026-02-06	Truist Securities	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-06-01	2	12	2	0
2026-05-01	2	12	2	1
2026-04-01	3	12	2	1
2026-03-01	3	12	2	0
2026-02-01	2	12	2	1
2026-01-01	2	12	3	1
2025-12-01	2	11	2	1
2025-11-01	2	11	2	1

FinancialsFY 2025

Financials

Revenue

$2.79B

Gross margin

55.2%

Operating income

$728.6M

Free cash flow

$666.2M

Cash + ST investments

$1.26B

Net debt

-$1.08B

ROE

17.4%

ROIC

15.3%

EV / sales

15.2x

EV / EBITDA

52.0x

R&D / revenue

13.7%

Current ratio

5.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.79B	$1.54B	55.2%	$382.3M	$728.6M	$817.2M	$615.9M	$12.82
FY 2024	$2.21B	$1.22B	55.3%	$324.7M	$539.4M	$609.3M	$1.79B	$36.76
FY 2023	$1.82B	$1.02B	56.1%	$263.6M	$481.7M	$546.0M	$427.4M	$8.98
FY 2022	$1.79B	$1.05B	58.4%	$240.2M	$526.8M	$562.1M	$437.7M	$9.37
FY 2021	$1.21B	$685.5M	56.8%	$190.6M	$262.4M	$300.9M	$242.0M	$5.28
FY 2020	$844.5M	$466.0M	55.2%	$137.6M	$158.9M	$185.9M	$164.4M	$3.67
FY 2019	$627.9M	$346.3M	55.2%	$107.8M	$102.6M	$119.9M	$108.8M	$2.52
FY 2018	$582.4M	$322.7M	55.4%	$93.5M	$113.5M	$127.7M	$105.3M	$2.36
FY 2017	$470.9M	$258.3M	54.8%	$82.4M	$77.4M	$94.8M	$65.2M	$1.58
FY 2016	$388.7M	$210.9M	54.3%	$73.6M	$54.4M	$68.9M	$52.7M	$1.30
FY 2015	$333.1M	$180.2M	54.1%	$65.8M	$41.1M	$55.9M	$35.2M	$0.89
FY 2014	$282.5M	$152.6M	54.0%	$58.6M	$35.3M	$40.4M	$35.5M	$0.92

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$838.2M	$174.9M	$666.2M
FY 2024	$788.4M	$146.1M	$642.3M
FY 2023	$638.2M	$57.6M	$580.6M
FY 2022	$246.7M	$58.8M	$187.8M
FY 2021	$320.0M	$95.2M	$224.8M
FY 2020	$267.8M	$55.6M	$212.2M
FY 2019	$216.3M	$96.8M	$119.5M
FY 2018	$141.5M	$22.5M	$118.9M
FY 2017	$133.8M	$65.8M	$68.0M
FY 2016	$107.8M	$37.1M	$70.7M
FY 2015	$69.7M	$16.0M	$53.7M
FY 2014	$74.1M	$9.5M	$64.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$1.26B	$315.6M	$564.6M	$652.6M	$4.19B	$24.1M	-$1.08B	$662.7M	$3.53B
FY 2024	$862.9M	$232.5M	$419.6M	$529.1M	$3.62B	$15.8M	-$676.0M	$471.3M	$3.15B
FY 2023	$1.11B	$250.0M	$383.7M	$369.0M	$2.43B	$5.6M	-$522.3M	$384.4M	$2.05B
FY 2022	$737.9M	$197.2M	$447.3M	$357.2M	$2.06B	$1.7M	-$286.9M	$390.3M	$1.67B
FY 2021	$725.1M	$126.5M	$259.4M	$363.0M	$1.59B	$0	-$189.3M	$341.8M	$1.24B
FY 2020	$595.1M	$81.3M	$157.1M	$281.5M	$1.21B	$3.1M	-$331.8M	$241.9M	$966.6M
FY 2019	$455.4M	$61.3M	$127.5M	$231.2M	$956.4M	$2.4M	-$170.6M	$182.9M	$773.5M
FY 2018	$377.3M	$61.0M	$136.4M	$150.0M	$793.4M	$0	-$172.7M	$153.3M	$640.1M
FY 2017	$299.1M	$40.6M	$99.3M	$144.6M	$651.4M	$0	-$82.8M	$129.4M	$522.0M
FY 2016	$268.2M	$35.5M	$71.5M	$85.2M	$511.1M	$0	-$112.7M	$80.0M	$431.1M
FY 2015	$235.0M	$30.8M	$63.2M	$65.4M	$431.3M	$0	-$90.9M	$62.8M	$368.5M
FY 2014	$238.7M	$25.6M	$40.9M	$62.9M	$399.4M	$0	-$126.3M	$52.9M	$346.4M

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	55.2%	26.1%	22.1%	5.9x	4.4x	17.4%	15.3%	15.2x	52.0x	1.5%	13.7%	166d
FY 2024	55.3%	24.4%	81.0%	5.3x	3.9x	56.8%	16.2%	12.7x	46.1x	2.2%	14.7%	156d
FY 2023	56.1%	26.5%	23.5%	7.7x	6.1x	20.8%	18.5%	16.2x	54.0x	1.9%	14.5%	196d
FY 2022	58.4%	29.4%	24.4%	5.4x	3.7x	26.2%	24.5%	9.0x	28.9x	1.1%	13.4%	229d
FY 2021	56.8%	21.7%	20.0%	5.0x	3.8x	19.5%	17.2%	18.6x	74.5x	1.0%	15.8%	161d
FY 2020	55.2%	18.8%	19.5%	5.7x	4.7x	17.0%	14.5%	19.1x	86.6x	1.3%	16.3%	150d
FY 2019	55.2%	16.3%	17.3%	6.7x	5.4x	14.1%	11.5%	12.0x	62.7x	1.6%	17.2%	166d
FY 2018	55.4%	19.5%	18.1%	7.2x	5.5x	16.4%	14.1%	8.6x	39.2x	2.3%	16.0%	198d
FY 2017	54.8%	16.4%	13.8%	6.9x	5.4x	12.5%	10.4%	9.7x	48.2x	1.5%	17.5%	163d
FY 2016	54.3%	14.0%	13.6%	7.2x	5.9x	12.2%	10.9%	8.2x	46.5x	2.1%	18.9%	144d
FY 2015	54.1%	12.3%	10.6%	7.7x	6.2x	9.5%	8.8%	7.3x	43.4x	2.1%	19.8%	152d
FY 2014	54.0%	12.5%	12.6%	8.4x	7.2x	10.2%	9.5%	6.4x	44.5x	3.4%	20.7%	111d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+26.4%	+26.1%	+17.7%	+35.1%	-65.5%	-65.1%	+3.7%	-17.7%	+45.6%	+34.6%	+16.0%	+52.6%
FY 2024	+21.2%	+19.6%	+23.2%	+12.0%	+318.1%	+309.4%	+10.6%	-153.8%	-22.2%	+9.4%	+48.6%	+183.8%
FY 2023	+1.5%	-2.6%	+9.8%	-8.6%	-2.4%	-4.2%	+209.1%	+2.1%	+50.2%	-14.2%	+18.2%	+234.4%
FY 2022	+48.5%	+53.0%	+26.0%	+100.7%	+80.8%	+77.5%	-16.4%	+38.2%	+1.8%	+72.4%	+29.8%	0.0%
FY 2021	+43.0%	+47.1%	+38.5%	+65.2%	+47.2%	+43.9%	+5.9%	-71.2%	+21.8%	+65.2%	+31.2%	-100.0%
FY 2020	+34.5%	+34.5%	+27.7%	+54.9%	+51.0%	+45.6%	+77.5%	+42.5%	+30.7%	+23.2%	+26.4%	+31.5%
FY 2019	+7.8%	+7.3%	+15.3%	-9.6%	+3.4%	+6.8%	+0.5%	-329.7%	+20.7%	-6.5%	+20.5%	0.0%
FY 2018	+23.7%	+24.9%	+13.5%	+46.6%	+61.4%	+49.4%	+74.8%	+65.8%	+26.1%	+37.4%	+21.8%	0.0%
FY 2017	+21.2%	+22.5%	+11.8%	+42.2%	+23.7%	+21.5%	-3.7%	-77.2%	+11.5%	+38.9%	+27.5%	0.0%
FY 2016	+16.7%	+17.0%	+11.9%	+32.6%	+49.9%	+46.1%	+31.6%	-131.6%	+14.2%	+13.1%	+18.5%	0.0%
FY 2015	+17.9%	+18.1%	+12.3%	+16.3%	-0.9%	-3.3%	-16.9%	-68.5%	-1.6%	+54.5%	+8.0%	0.0%
FY 2014	+18.7%	+19.3%	+17.8%	+47.6%	+55.0%	+50.8%	+43.9%	+39.7%	+5.5%	+3.0%	+8.3%	0.0%

SegmentsFY 2023

Revenue Mix

Period	Total	DC To DC Products	Lighting Control Products
FY 2023	$1.82B	$1.72B	$102.4M
FY 2022	$1.79B	$1.70B	$97.6M
FY 2021	$1.21B	$1.15B	$60.5M
FY 2020	$844.5M	$800.5M	$44.0M
FY 2019	$627.9M	$589.7M	$38.3M
FY 2018	$582.4M	$537.5M	$44.9M
FY 2017	$470.9M	$431.9M	$39.1M
FY 2016	$388.7M	$350.9M	$37.7M
FY 2013	$238.1M	$211.3M	$26.8M
FY 2012	$213.8M	$188.7M	$25.1M

Period	Total	CHINA	TAIWAN, PROVINCE OF CHINA	KOREA, REPUBLIC OF	Europe	South East Asia	JAPAN	UNITED STATES	Other Region
FY 2025	$2.79B	$1.54B	$550.1M	$252.7M	$113.5M	$148.1M	$84.4M	$96.7M	$484,000
FY 2024	$2.21B	$1.18B	$578.0M	$167.9M	$86.9M	$78.8M	$61.7M	$55.2M	$310,000
FY 2023	$1.82B	$934.8M	$307.5M	$169.9M	$132.6M	$85.2M	$93.3M	$97.3M	$534,000
FY 2022	$1.79B	$938.9M	$233.0M	$189.5M	$145.6M	$95.7M	$91.0M	$99.8M	$509,000
FY 2021	$1.21B	$701.0M	$169.1M	$93.0M	$85.2M	$54.6M	$68.7M	$35.8M	$354,000
FY 2020	$844.5M	$516.5M	$109.3M	$64.1M	$56.3M	$42.4M	$35.5M	$20.1M	$293,000
FY 2019	$627.9M	$382.7M	$73.8M	$43.9M	$49.5M	$32.0M	$27.8M	$17.8M	$334,000
FY 2018	$582.4M	$334.7M	$75.3M	$41.2M	$49.5M	$36.5M	$26.9M	$17.6M	$658,000
FY 2017	$470.9M	$257.8M	$83.4M	$34.2M	$38.1M	$25.8M	$20.2M	$11.1M	$435,000
FY 2016	$388.7M	$245.2M	$45.4M	$27.7M	$27.6M	$19.6M	$14.3M	$8.6M	$288,000
FY 2013	$238.1M	$141.4M	$34.2M	$10.0M	$15.4M	$21.8M	$7.5M	$7.5M	$320,000
FY 2012	$213.8M	$124.3M	$27.5M	$9.4M	$16.2M	$21.6M	$8.5M	$5.7M	$555,000

Transcripts

Events

Next earnings

2026-07-30EPS est $5.85

Recent filings

8-K2026-06-12
42026-06-03
42026-06-02

Latest news

Monolithic (MPWR) Soars 8.0%: Is Further Upside Left in the Stock?
Zacks Investment Research · 2026-06-19
Financials Rose, Tech Fell Before Kevin Warsh Fed Debut
ETF Trends · 2026-06-18

Analyst expectations

Consensus target

$1615.00

+3.3%

Target range

$1200.00 - $2000.00

Rating mix

Buy

25 ratings

Next FY revenue

$3.70B

2026-12-31

Next FY EPS

$23.98

$23.60 - $24.84

Rating consensus25 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$3.70B	$3.66B - $3.77B	$23.98	$23.60 - $24.84	$1.06B	$983.3M	$1.17B	$603.4M	12 rev / 10 EPS
2027-12-31	$4.53B	$4.30B - $4.79B	$30.17	$28.59 - $33.14	$1.30B	$1.20B	$1.49B	$738.7M	11 rev / 9 EPS
2028-12-31	$5.21B	$5.19B - $5.23B	$35.04	$31.31 - $40.17	$1.49B	$1.39B	$1.73B	$850.3M	6 rev / 4 EPS
2029-12-31	$6.03B	$5.80B - $6.34B	$41.25	$39.29 - $44.09	$1.72B	$1.60B	$1.99B	$983.4M	5 rev / 2 EPS
2030-12-31	$6.80B	$6.55B - $7.16B	$46.75	$44.53 - $49.97	$1.95B	$1.81B	$2.26B	$1.11B	3 rev / 2 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-30	$901.3M	$900.3M - $903.3M	$5.85	$5.83 - $5.87	$258.0M	$239.7M	$288.0M	$147.1M	10 rev / 10 EPS
2026-09-30	$979.7M	$959.7M - $1.00B	$6.40	$6.18 - $6.59	$280.4M	$260.6M	$315.3M	$159.9M	10 rev / 10 EPS
2026-12-31	$1.01B	$995.9M - $1.03B	$6.62	$6.49 - $6.81	$289.6M	$269.1M	$326.0M	$165.1M	5 rev / 4 EPS
2027-03-31	$1.02B	$1.01B - $1.05B	$6.69	$6.55 - $6.88	$293.3M	$272.5M	$329.3M	$167.2M	5 rev / 4 EPS
2027-06-30	$1.09B	$1.07B - $1.11B	$7.21	$7.06 - $7.42	$311.1M	$289.1M	$354.9M	$177.4M	5 rev / 4 EPS
2027-09-30	$1.18B	$1.16B - $1.20B	$7.94	$7.77 - $8.17	$336.5M	$312.7M	$390.7M	$191.9M	5 rev / 4 EPS
2027-12-31	$1.21B	$1.19B - $1.23B	$8.18	$8.01 - $8.41	$345.4M	$321.0M	$402.6M	$197.0M	5 rev / 4 EPS
2028-03-31	$1.20B	$1.19B - $1.23B	$7.94	$7.78 - $8.17	$344.6M	$320.2M	$391.0M	$196.5M	4 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	0	$0.00
Last quarter	6	$1734.17
Last year	21	$1371.24
All time	38	$1069.55

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-05-01	Wells Fargo	Maintain	Overweight	Overweight
2026-05-01	TD Cowen	Maintain	Buy	Buy
2026-05-01	Keybanc	Maintain	Overweight	Overweight
2026-05-01	Needham	Maintain	Buy	Buy
2026-05-01	Rosenblatt	Maintain	Neutral	Neutral
2026-04-16	Stifel	Maintain	Buy	Buy
2026-02-09	Citigroup	Maintain	Buy	Buy
2026-02-06	Truist Securities	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-06-01	2	12	2	0
2026-05-01	2	12	2	1
2026-04-01	3	12	2	1
2026-03-01	3	12	2	0
2026-02-01	2	12	2	1
2026-01-01	2	12	3	1
2025-12-01	2	11	2	1
2025-11-01	2	11	2	1

Financials

Revenue

$2.79B

Gross margin

55.2%

Operating income

$728.6M

Free cash flow

$666.2M

Cash + ST investments

$1.26B

Net debt

-$1.08B

ROE

17.4%

ROIC

15.3%

EV / sales

15.2x

EV / EBITDA

52.0x

R&D / revenue

13.7%

Current ratio

5.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.79B	$1.54B	55.2%	$382.3M	$728.6M	$817.2M	$615.9M	$12.82
FY 2024	$2.21B	$1.22B	55.3%	$324.7M	$539.4M	$609.3M	$1.79B	$36.76
FY 2023	$1.82B	$1.02B	56.1%	$263.6M	$481.7M	$546.0M	$427.4M	$8.98
FY 2022	$1.79B	$1.05B	58.4%	$240.2M	$526.8M	$562.1M	$437.7M	$9.37
FY 2021	$1.21B	$685.5M	56.8%	$190.6M	$262.4M	$300.9M	$242.0M	$5.28
FY 2020	$844.5M	$466.0M	55.2%	$137.6M	$158.9M	$185.9M	$164.4M	$3.67
FY 2019	$627.9M	$346.3M	55.2%	$107.8M	$102.6M	$119.9M	$108.8M	$2.52
FY 2018	$582.4M	$322.7M	55.4%	$93.5M	$113.5M	$127.7M	$105.3M	$2.36
FY 2017	$470.9M	$258.3M	54.8%	$82.4M	$77.4M	$94.8M	$65.2M	$1.58
FY 2016	$388.7M	$210.9M	54.3%	$73.6M	$54.4M	$68.9M	$52.7M	$1.30
FY 2015	$333.1M	$180.2M	54.1%	$65.8M	$41.1M	$55.9M	$35.2M	$0.89
FY 2014	$282.5M	$152.6M	54.0%	$58.6M	$35.3M	$40.4M	$35.5M	$0.92

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$838.2M	$174.9M	$666.2M
FY 2024	$788.4M	$146.1M	$642.3M
FY 2023	$638.2M	$57.6M	$580.6M
FY 2022	$246.7M	$58.8M	$187.8M
FY 2021	$320.0M	$95.2M	$224.8M
FY 2020	$267.8M	$55.6M	$212.2M
FY 2019	$216.3M	$96.8M	$119.5M
FY 2018	$141.5M	$22.5M	$118.9M
FY 2017	$133.8M	$65.8M	$68.0M
FY 2016	$107.8M	$37.1M	$70.7M
FY 2015	$69.7M	$16.0M	$53.7M
FY 2014	$74.1M	$9.5M	$64.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$1.26B	$315.6M	$564.6M	$652.6M	$4.19B	$24.1M	-$1.08B	$662.7M	$3.53B
FY 2024	$862.9M	$232.5M	$419.6M	$529.1M	$3.62B	$15.8M	-$676.0M	$471.3M	$3.15B
FY 2023	$1.11B	$250.0M	$383.7M	$369.0M	$2.43B	$5.6M	-$522.3M	$384.4M	$2.05B
FY 2022	$737.9M	$197.2M	$447.3M	$357.2M	$2.06B	$1.7M	-$286.9M	$390.3M	$1.67B
FY 2021	$725.1M	$126.5M	$259.4M	$363.0M	$1.59B	$0	-$189.3M	$341.8M	$1.24B
FY 2020	$595.1M	$81.3M	$157.1M	$281.5M	$1.21B	$3.1M	-$331.8M	$241.9M	$966.6M
FY 2019	$455.4M	$61.3M	$127.5M	$231.2M	$956.4M	$2.4M	-$170.6M	$182.9M	$773.5M
FY 2018	$377.3M	$61.0M	$136.4M	$150.0M	$793.4M	$0	-$172.7M	$153.3M	$640.1M
FY 2017	$299.1M	$40.6M	$99.3M	$144.6M	$651.4M	$0	-$82.8M	$129.4M	$522.0M
FY 2016	$268.2M	$35.5M	$71.5M	$85.2M	$511.1M	$0	-$112.7M	$80.0M	$431.1M
FY 2015	$235.0M	$30.8M	$63.2M	$65.4M	$431.3M	$0	-$90.9M	$62.8M	$368.5M
FY 2014	$238.7M	$25.6M	$40.9M	$62.9M	$399.4M	$0	-$126.3M	$52.9M	$346.4M

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	55.2%	26.1%	22.1%	5.9x	4.4x	17.4%	15.3%	15.2x	52.0x	1.5%	13.7%	166d
FY 2024	55.3%	24.4%	81.0%	5.3x	3.9x	56.8%	16.2%	12.7x	46.1x	2.2%	14.7%	156d
FY 2023	56.1%	26.5%	23.5%	7.7x	6.1x	20.8%	18.5%	16.2x	54.0x	1.9%	14.5%	196d
FY 2022	58.4%	29.4%	24.4%	5.4x	3.7x	26.2%	24.5%	9.0x	28.9x	1.1%	13.4%	229d
FY 2021	56.8%	21.7%	20.0%	5.0x	3.8x	19.5%	17.2%	18.6x	74.5x	1.0%	15.8%	161d
FY 2020	55.2%	18.8%	19.5%	5.7x	4.7x	17.0%	14.5%	19.1x	86.6x	1.3%	16.3%	150d
FY 2019	55.2%	16.3%	17.3%	6.7x	5.4x	14.1%	11.5%	12.0x	62.7x	1.6%	17.2%	166d
FY 2018	55.4%	19.5%	18.1%	7.2x	5.5x	16.4%	14.1%	8.6x	39.2x	2.3%	16.0%	198d
FY 2017	54.8%	16.4%	13.8%	6.9x	5.4x	12.5%	10.4%	9.7x	48.2x	1.5%	17.5%	163d
FY 2016	54.3%	14.0%	13.6%	7.2x	5.9x	12.2%	10.9%	8.2x	46.5x	2.1%	18.9%	144d
FY 2015	54.1%	12.3%	10.6%	7.7x	6.2x	9.5%	8.8%	7.3x	43.4x	2.1%	19.8%	152d
FY 2014	54.0%	12.5%	12.6%	8.4x	7.2x	10.2%	9.5%	6.4x	44.5x	3.4%	20.7%	111d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+26.4%	+26.1%	+17.7%	+35.1%	-65.5%	-65.1%	+3.7%	-17.7%	+45.6%	+34.6%	+16.0%	+52.6%
FY 2024	+21.2%	+19.6%	+23.2%	+12.0%	+318.1%	+309.4%	+10.6%	-153.8%	-22.2%	+9.4%	+48.6%	+183.8%
FY 2023	+1.5%	-2.6%	+9.8%	-8.6%	-2.4%	-4.2%	+209.1%	+2.1%	+50.2%	-14.2%	+18.2%	+234.4%
FY 2022	+48.5%	+53.0%	+26.0%	+100.7%	+80.8%	+77.5%	-16.4%	+38.2%	+1.8%	+72.4%	+29.8%	0.0%
FY 2021	+43.0%	+47.1%	+38.5%	+65.2%	+47.2%	+43.9%	+5.9%	-71.2%	+21.8%	+65.2%	+31.2%	-100.0%
FY 2020	+34.5%	+34.5%	+27.7%	+54.9%	+51.0%	+45.6%	+77.5%	+42.5%	+30.7%	+23.2%	+26.4%	+31.5%
FY 2019	+7.8%	+7.3%	+15.3%	-9.6%	+3.4%	+6.8%	+0.5%	-329.7%	+20.7%	-6.5%	+20.5%	0.0%
FY 2018	+23.7%	+24.9%	+13.5%	+46.6%	+61.4%	+49.4%	+74.8%	+65.8%	+26.1%	+37.4%	+21.8%	0.0%
FY 2017	+21.2%	+22.5%	+11.8%	+42.2%	+23.7%	+21.5%	-3.7%	-77.2%	+11.5%	+38.9%	+27.5%	0.0%
FY 2016	+16.7%	+17.0%	+11.9%	+32.6%	+49.9%	+46.1%	+31.6%	-131.6%	+14.2%	+13.1%	+18.5%	0.0%
FY 2015	+17.9%	+18.1%	+12.3%	+16.3%	-0.9%	-3.3%	-16.9%	-68.5%	-1.6%	+54.5%	+8.0%	0.0%
FY 2014	+18.7%	+19.3%	+17.8%	+47.6%	+55.0%	+50.8%	+43.9%	+39.7%	+5.5%	+3.0%	+8.3%	0.0%

Revenue Mix