Monolithic Power Systems, Inc. (MPWR) Balance Sheet
MPWR balance sheet, 2025
December 31, 2025 · U.S. dollars$4.19B assets = $662.7M liabilities + $3.53B equity
Both columns are drawn to the same scale: what MPWR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MPWR financial health
Descriptive bands, not a rating. Fiscal 2025.
MPWR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $511.1M2016 | $4.19B2025 | +26.3%/yr | |
| Total liabilities | $80.0M2016 | $662.7M2025 | +26.5%/yr | |
| Shareholders’ equity | $431.1M2016 | $3.53B2025 | +26.3%/yr | |
| Cash & short-term investments | $268.2M2016 | $1.26B2025 | +18.7%/yr | |
| Total debt | $2.4M2019 | $24.1M2025 | +47.3%/yr | |
| Net cash (debt) | $453.0M2019 | $1.23B2025 | +$779.4M | |
| Working capital | $330.1M2016 | $1.81B2025 | +$1.5B | |
| Book value per share | $10.292016 | $73.102025 | +24.3%/yr | |
| Current ratio | 7.242016 | 5.912025 | −1.32 | |
| Debt / equity | 0.002019 | 0.012025 | 0.00 | |
| Shares outstanding | 41.9M2016 | 48.3M2025 | +1.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MPWR assets
MPWR liabilities and equity
MPWR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MPWR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.26B | $862.9M | $1.11B | $737.9M | $725.1M | $595.1M | $455.4M | $377.3M | $299.1M | $268.2M |
| Cash & equivalents | $1.10B | $691.8M | $527.8M | $288.6M | $189.3M | $334.9M | $173.0M | $172.7M | $82.8M | $112.7M |
| Short-term investments | $157.2M | $171.1M | $580.6M | $449.3M | $535.8M | $260.2M | $282.4M | $204.6M | $216.3M | $155.5M |
| Receivables | $315.6M | $232.5M | $250.0M | $197.2M | $126.5M | $81.3M | $61.3M | $61.0M | $40.6M | $35.5M |
| Inventory | $564.6M | $419.6M | $383.7M | $447.3M | $259.4M | $157.1M | $127.5M | $136.4M | $99.3M | $71.5M |
| Other current assets | $47.0M | $50.0M | $77.3M | $28.3M | $13.9M | $8.6M | $11.0M | $6.2M | $10.2M | $7.8M |
| Total current assets | $2.18B | $1.57B | $1.82B | $1.41B | $1.12B | $842.0M | $655.2M | $580.8M | $449.2M | $383.0M |
| Property, plant & equipment (net) | $652.6M | $529.1M | $369.0M | $357.2M | $363.0M | $281.5M | $231.2M | $150.0M | $144.6M | $85.2M |
| Goodwill & intangible assets | $34.7M | $35.9M | $6.6M | $6.6M | $6.6M | $6.6M | $6.6M | $6.7M | $7.5M | $9.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $6.3M | $3.1M | $3.2M | $5.3M | $5.4M |
| Other non-current assets | $1.32B | $1.49B | $239.3M | $284.5M | $91.4M | $72.1M | $60.3M | $52.7M | $44.9M | $28.0M |
| Total assets | $4.19B | $3.62B | $2.43B | $2.06B | $1.59B | $1.21B | $956.4M | $793.4M | $651.4M | $511.1M |
| Liabilities | ||||||||||
| Accounts payable | $138.3M | $102.5M | $63.0M | $61.5M | $83.0M | $38.2M | $27.3M | $22.7M | $22.8M | $17.4M |
| Short-term debt | $4.1M | $2.8M | $2.3M | $4.3M | $5.1M | $1.4M | $1.3M | — | — | — |
| Deferred revenue | — | — | $65.8M | −$2.1M | $4.3M | $7.2M | $3.4M | $2.5M | $6.6M | $6.8M |
| Total current liabilities | $369.4M | $294.6M | $235.0M | $263.4M | $226.9M | $147.0M | $98.2M | $80.4M | $64.8M | $52.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $20.0M | $13.0M | $5.6M | $1.7M | — | $3.1M | $2.4M | — | — | — |
| Other long-term liabilities | $293.3M | $176.8M | $149.4M | $126.9M | $114.9M | $94.9M | $84.7M | $72.9M | $64.6M | $27.1M |
| Total liabilities | $662.7M | $471.3M | $384.4M | $390.3M | $341.8M | $241.9M | $182.9M | $153.3M | $129.4M | $80.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $937.0M | $706.8M | $1.13B | $975.3M | $803.2M | $657.7M | $549.5M | $450.9M | $376.6M | $316.0M |
| Retained earnings (deficit) | $2.61B | $2.49B | $947.1M | $716.4M | $424.9M | $298.7M | $229.4M | $194.7M | $143.6M | $119.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$15.2M | −$48.5M | −$27.1M | −$23.1M | $15.9M | $10.1M | −$5.5M | −$5.5M | $1.8M | −$4.2M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $3.53B | $3.15B | $2.05B | $1.67B | $1.24B | $966.6M | $773.5M | $640.1M | $522.0M | $431.1M |
| Key figures | ||||||||||
| Total debt | $24.1M | $15.8M | $5.6M | $1.7M | $5.8M | $3.1M | $2.4M | — | — | — |
| Net cash (debt) | $1.23B | $847.2M | $1.10B | $736.2M | $719.3M | $592.0M | $453.0M | — | — | — |
| Working capital | $1.81B | $1.27B | $1.58B | $1.15B | $897.9M | $695.0M | $557.0M | $500.4M | $384.4M | $330.1M |
| Tangible book value | $3.50B | $3.11B | $2.04B | $1.66B | $1.24B | $960.0M | $766.9M | $633.4M | $514.5M | $421.5M |
| Book value per share | $73.10 | $64.42 | $42.03 | $34.51 | $25.98 | $20.56 | $16.90 | $14.35 | $11.98 | $10.29 |
| Shares outstanding | 48.3M | 48.8M | 48.8M | 48.4M | 47.9M | 47.0M | 45.8M | 44.6M | 43.6M | 41.9M |
| Current ratio | 5.91 | 5.31 | 7.74 | 5.36 | 4.96 | 5.73 | 6.67 | 7.22 | 6.93 | 7.24 |
| Quick ratio | 4.26 | 3.72 | 5.78 | 3.55 | 3.75 | 4.60 | 5.26 | 5.45 | 5.24 | 5.74 |
| Debt / equity | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Equity / assets | 84.2% | 87.0% | 84.2% | 81.0% | 78.4% | 80.0% | 80.9% | 80.7% | 80.1% | 84.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.41B | $1.37B | $1.26B | $1.27B | $1.15B | $1.03B | $862.9M | $1.46B | $1.31B | $1.29B | $1.11B | $1.04B |
| Cash & equivalents | $1.01B | $1.06B | $1.10B | $1.08B | $787.4M | $637.4M | $691.8M | $700.3M | $550.5M | $488.3M | $527.8M | $421.2M |
| Short-term investments | $408.2M | $304.2M | $157.2M | $188.2M | $358.7M | $389.3M | $171.1M | $762.0M | $756.8M | $798.1M | $580.6M | $621.1M |
| Receivables | $343.6M | $302.1M | $315.6M | $241.6M | $194.8M | $214.9M | $232.5M | $164.8M | $158.0M | $194.4M | $250.0M | $204.3M |
| Inventory | $675.8M | $619.2M | $564.6M | $505.7M | $490.6M | $454.8M | $419.6M | $424.9M | $426.8M | $396.0M | $383.7M | $397.3M |
| Other current assets | $44.2M | $42.7M | $47.0M | $96.0M | $87.2M | $92.1M | $50.0M | $108.4M | $105.5M | $99.7M | $77.3M | $91.5M |
| Total current assets | $2.48B | $2.33B | $2.18B | $2.11B | $1.92B | $1.79B | $1.57B | $2.16B | $2.00B | $1.98B | $1.82B | $1.74B |
| Property, plant & equipment (net) | $774.5M | $693.9M | $652.6M | $597.3M | $601.6M | $563.2M | $529.1M | $471.3M | $434.2M | $375.6M | $369.0M | $358.2M |
| Goodwill & intangible assets | $34.2M | $34.4M | $34.7M | $35.0M | $35.3M | $35.6M | $35.9M | $36.3M | $36.6M | $36.8M | $6.6M | $6.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.40B | $1.39B | $1.32B | $1.46B | $1.42B | $1.42B | $1.49B | $186.7M | $179.9M | $189.8M | $239.3M | $227.9M |
| Total assets | $4.69B | $4.45B | $4.19B | $4.21B | $3.97B | $3.81B | $3.62B | $2.85B | $2.65B | $2.58B | $2.43B | $2.33B |
| Liabilities | ||||||||||||
| Accounts payable | $182.2M | $174.5M | $138.3M | $141.7M | $129.9M | $127.3M | $102.5M | $115.9M | $99.9M | $103.5M | $63.0M | $64.7M |
| Short-term debt | — | — | $4.1M | — | $4.0M | $3.3M | $2.8M | $2.8M | $2.4M | $2.6M | $2.3M | $2.2M |
| Deferred revenue | — | — | — | — | — | — | — | $6.3M | $5.6M | $77.3M | $65.8M | −$2.2M |
| Total current liabilities | $497.9M | $487.0M | $369.4M | $442.8M | $383.5M | $363.4M | $294.6M | $336.6M | $295.2M | $311.9M | $235.0M | $250.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $18.9M | $20.0M | $20.0M | $15.1M | $15.9M | $14.5M | $13.0M | $13.5M | $13.0M | $5.9M | $5.6M | — |
| Other long-term liabilities | $292.8M | $284.5M | $293.3M | $195.6M | $186.6M | $175.3M | $176.8M | $166.5M | $157.1M | $153.3M | $149.4M | $133.2M |
| Total liabilities | $790.8M | $771.5M | $662.7M | $638.4M | $570.1M | $538.8M | $471.3M | $503.1M | $452.3M | $465.1M | $384.4M | $383.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.03B | $983.9M | $937.0M | $885.1M | $822.6M | $765.0M | $706.8M | $1.27B | $1.22B | $1.18B | $1.13B | $1.09B |
| Retained earnings (deficit) | $2.86B | $2.70B | $2.61B | $2.71B | $2.60B | $2.55B | $2.49B | $1.10B | $1.02B | $977.7M | $947.1M | $899.4M |
| Accumulated other comprehensive income | $509,000 | −$10.1M | −$15.2M | −$22.7M | −$23.7M | −$43.3M | −$48.5M | −$21.2M | −$44.5M | −$40.5M | −$27.1M | −$47.1M |
| Total shareholders' equity | $3.90B | $3.68B | $3.53B | $3.57B | $3.40B | $3.27B | $3.15B | $2.35B | $2.20B | $2.11B | $2.05B | $1.94B |
| Key figures | ||||||||||||
| Total debt | — | — | $24.1M | $15.1M | $19.9M | $17.8M | $15.8M | $16.3M | $15.5M | $8.6M | $5.6M | $8.0M |
| Net cash (debt) | — | — | $1.23B | $1.25B | $1.13B | $1.01B | $847.2M | $1.45B | $1.29B | $1.28B | $1.10B | $1.03B |
| Working capital | $1.98B | $1.84B | $1.81B | $1.67B | $1.54B | $1.42B | $1.27B | $1.82B | $1.70B | $1.66B | $1.58B | $1.49B |
| Tangible book value | $3.86B | $3.64B | $3.50B | $3.53B | $3.37B | $3.23B | $3.11B | $2.32B | $2.16B | $2.08B | $2.04B | $1.94B |
| Book value per share | $79.09 | $74.68 | $71.83 | $74.27 | $70.86 | $68.05 | $64.85 | $48.03 | $44.86 | $43.20 | $41.94 | $39.86 |
| Shares outstanding | 49.3M | 49.2M | 49.2M | 48.0M | 48.0M | 48.0M | 48.5M | 49.0M | 48.9M | 48.9M | 48.9M | 48.8M |
| Current ratio | 4.98 | 4.79 | 5.91 | 4.77 | 5.00 | 4.92 | 5.31 | 6.42 | 6.77 | 6.34 | 7.74 | 6.94 |
| Quick ratio | 3.53 | 3.43 | 4.26 | 3.41 | 3.50 | 3.42 | 3.72 | 4.83 | 4.96 | 4.75 | 5.78 | 4.99 |
| Debt / equity | — | — | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 83.1% | 82.7% | 84.2% | 84.8% | 85.6% | 85.8% | 87.0% | 82.4% | 82.9% | 82.0% | 84.2% | 83.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
MPWR financial position
At the end of fiscal 2025 (December 31, 2025), Monolithic Power had total assets of $4.2 billion (up 16.0% from a year earlier), total liabilities of $662.7 million and shareholders' equity of $3.5 billion. It held $1.3 billion in cash and short-term investments against $24.1 million of debt, a net cash position of $1.2 billion. Its current ratio was 5.91. In the latest quarter (ended June 30, 2026) total assets were $4.7 billion and equity $3.9 billion.
Related: MPWR income statement, MPWR cash flow statement, MPWR key metrics. See the MPWR stock overview for the latest quote and news.
MPWR balance sheet FAQ
What are Monolithic Power's total assets?
Monolithic Power reported total assets of $4.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.6 billion a year earlier.
How much debt does Monolithic Power have?
Monolithic Power had $24.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Monolithic Power have?
Monolithic Power held $1.3 billion in cash and short-term investments at the end of fiscal 2025; with $24.1 million of debt that is net cash of $1.2 billion.
What is Monolithic Power's book value?
Monolithic Power's shareholders' equity (book value) was $3.5 billion at the end of fiscal 2025, or $73.10 per share.
What is Monolithic Power's current ratio?
Monolithic Power had current assets of $2.2 billion and current liabilities of $369.4 million, a current ratio of 5.91 (it can cover its short-term obligations).
How much goodwill does Monolithic Power have?
Monolithic Power carried $34.7 million of goodwill and intangible assets, 0.8% of total assets, at the end of fiscal 2025.