Stock Analysis on Net
Stock Analysis on Net

Monolithic Power Systems Inc. (NASDAQ:MPWR)

This company has been moved to the archive! The financial data has not been updated since May 5, 2025.

Common-Size Balance Sheet: Assets 

Monolithic Power Systems Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 19.13 21.68 14.02 11.93 27.72
Short-term investments 4.73 23.85 21.82 33.79 21.53
Accounts receivable, net 4.77 7.39 8.87 6.61 5.53
Inventories 11.60 15.76 21.72 16.36 13.00
Other receivables 1.66 2.05 0.00 0.00 0.00
Prepaid expense 1.00 1.19 0.54 0.60 0.42
RSU tax withholding proceeds receivable 0.00 0.83 0.70 1.02 1.03
Restricted cash 0.00 1.36 0.00 0.00 0.00
Other 0.38 0.62 0.84 0.62 0.45
Other current assets 3.04% 6.06% 2.08% 2.24% 1.90%
Current assets 43.27% 74.74% 68.51% 70.93% 69.67%
Property and equipment, net 13.68 15.16 17.35 22.89 23.30
Acquisition-related intangible assets, net 0.27 0.00 0.00 0.00 0.00
Goodwill 0.72 0.27 0.32 0.41 0.54
Deferred tax assets, net 36.68 1.15 1.71 1.38 1.54
Deferred compensation plan assets 2.56 3.22 3.06 3.35 3.82
Prepaid wafer purchases 1.66 4.93 8.26 0.00 0.00
Operating lease ROU and related assets 0.95 0.34 0.21 0.40 0.31
Other 0.21 0.19 0.58 0.63 0.83
Other long-term assets 5.37% 8.68% 12.11% 4.38% 4.95%
Long-term assets 56.73% 25.26% 31.49% 29.07% 30.33%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets declined sharply from 27.72% in 2020 to 11.93% in 2021. This was followed by a moderate recovery to 21.68% in 2023, before slightly decreasing again to 19.13% in 2024. This indicates fluctuations in liquid asset management with a partial restoration of liquidity after a steep drop.
Short-Term Investments
Short-term investments rose significantly from 21.53% in 2020 to 33.79% in 2021, representing a peak allocation to this asset category. Subsequently, the percentage steadily declined to 4.73% by 2024, suggesting a strategic shift away from short-term investment holdings over the most recent years.
Accounts Receivable, Net
The share of accounts receivable increased from 5.53% in 2020 to a high of 8.87% in 2022, before contracting to 4.77% by 2024. This reflects a rise in credit sales or receivables collection period initially, followed by improved efficiency or reduced sales on credit.
Inventories
Inventory levels grew from 13% to 21.72% of total assets between 2020 and 2022, indicating accumulation of stock. However, there was a marked reduction to 11.6% by 2024, which may point to efforts to streamline inventory or lower demand.
Other Receivables
This item appeared only in 2023 and 2024, rising to 2.05% before falling to 1.66%, indicating a modest presence in recent years as part of current assets.
Prepaid Expenses
Prepaid expenses showed a minor but consistent increase from 0.42% in 2020 to a peak of 1.19% in 2023, then slightly declined to 1% in 2024, signifying a small but stable portion of assets allocated here.
RSU Tax Withholding Proceeds Receivable
This category remained low and fairly stable near 1% until it fell to zero in 2024, suggesting full realization or removal of this receivable from assets.
Restricted Cash
Restricted cash was recorded only in 2023 at 1.36%, indicating a temporary allocation or a new classification for a portion of cash assets.
Other Current Assets
Other current assets fluctuated, notably rising sharply to 6.06% in 2023 before decreasing to 3.04% in 2024, reflecting some variability in miscellaneous short-term items.
Current Assets Total
Current assets maintained a high relative share around 70% through 2023 but dropped sharply to 43.27% in 2024, primarily driven by the large increase in deferred tax assets, indicating a shift in asset composition towards more long-term classifications.
Property and Equipment, Net
This fixed asset category declined steadily from 23.3% in 2020 to 13.68% in 2024, implying either asset disposals, depreciation effects, or reduced capital expenditure on property and equipment.
Acquisition-Related Intangible Assets, Net
This item first appeared in 2024 at 0.27%, revealing recent acquisition activity or a new intangible asset classification.
Goodwill
Goodwill as a proportion of total assets decreased gradually from 0.54% to 0.27% by 2023 before rising to 0.72% in 2024, suggesting some acquisitions or revaluation impacting intangible goodwill assets.
Deferred Tax Assets, Net
Deferred tax assets held a stable share near 1.5% until a marked surge to 36.68% in 2024, representing a significant reclassification or recognition of deferred tax benefits and altering the long-term asset profile substantially.
Deferred Compensation Plan Assets
Deferred compensation assets showed a gradual decrease from 3.82% in 2020 to 2.56% in 2024, indicating a steady reduction in this asset category.
Prepaid Wafer Purchases
This asset appeared from 2022 onward, peaking at 8.26% in that year before declining steadily to 1.66% in 2024, reflecting changes in advance procurement levels for wafers, likely linked to production needs or supply chain factors.
Operating Lease Right-of-Use and Related Assets
The share of operating lease-related assets fluctuated mildly between 0.21% and 0.95% over the period, representing a small but variable component of fixed assets.
Other Long-Term Assets
Other long-term assets rose from 4.95% in 2020 to a peak of 12.11% in 2022, then declined to 5.37% in 2024, showing some variability in non-core long-term asset holdings.
Long-Term Assets Total
Long-term assets as a whole decreased slightly from 30.33% in 2020 to 25.26% in 2023, then sharply increased to 56.73% in 2024. This increase was largely driven by the spike in deferred tax assets, indicating a substantial change in the asset structure emphasizing long-term asset recognition.
Total Assets
Total assets are consistently represented as 100%, serving as the basis for all proportional calculations.