Stock Analysis on Net

Monolithic Power Systems Inc. (NASDAQ:MPWR) 

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Monolithic Power Systems Inc., solvency ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt Ratios
Debt to equity 0.00 0.00 0.00 0.00 0.00
Debt to equity (including operating lease liability) 0.00 0.00 0.00 0.00 0.00
Debt to capital 0.00 0.00 0.00 0.00 0.00
Debt to capital (including operating lease liability) 0.00 0.00 0.00 0.00 0.00
Debt to assets 0.00 0.00 0.00 0.00 0.00
Debt to assets (including operating lease liability) 0.00 0.00 0.00 0.00 0.00
Financial leverage 1.19 1.23 1.27 1.25 1.24
Coverage Ratios
Interest coverage
Fixed charge coverage 163.49 195.13 111.93 114.81 75.96

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Monolithic Power Systems Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Monolithic Power Systems Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Monolithic Power Systems Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Monolithic Power Systems Inc. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Monolithic Power Systems Inc. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Debt to Equity

Monolithic Power Systems Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Stockholders’ equity 2,049,939 1,668,602 1,243,985 966,587 773,491
Solvency Ratio
Debt to equity1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity, Competitors2
Advanced Micro Devices Inc. 0.04 0.05 0.04 0.06
Analog Devices Inc. 0.20 0.18 0.18 0.43 0.47
Applied Materials Inc. 0.35 0.45 0.45 0.52 0.65
Broadcom Inc. 1.64 1.74 1.59 1.72 1.32
Intel Corp. 0.47 0.41 0.40 0.45
KLA Corp. 2.02 4.75 1.02 1.30 1.29
Lam Research Corp. 0.61 0.80 0.83 1.12 0.96
Micron Technology Inc. 0.30 0.14 0.15 0.17 0.16
NVIDIA Corp. 0.50 0.41 0.41 0.16 0.21
Qualcomm Inc. 0.71 0.86 1.58 2.59 3.25
Texas Instruments Inc. 0.66 0.60 0.58 0.74
Debt to Equity, Sector
Semiconductors & Semiconductor Equipment 0.47 0.43 0.50 0.62
Debt to Equity, Industry
Information Technology 0.66 0.70 0.83 0.97

Based on: 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).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 0 ÷ 2,049,939 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity.

Debt to Equity (including Operating Lease Liability)

Monolithic Power Systems Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Operating lease liabilities (included in Other accrued liabilities) 2,303 2,133 2,539 1,406 1,254
Long-term operating lease liabilities 5,565 1,664 3,268 1,693 1,103
Total debt (including operating lease liability) 7,868 3,797 5,807 3,099 2,357
 
Stockholders’ equity 2,049,939 1,668,602 1,243,985 966,587 773,491
Solvency Ratio
Debt to equity (including operating lease liability)1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.06 0.05 0.10 0.10
Analog Devices Inc. 0.21 0.19 0.19 0.46 0.47
Applied Materials Inc. 0.37 0.48 0.47 0.54 0.65
Broadcom Inc. 1.65 1.76 1.61 1.75 1.32
Intel Corp. 0.47 0.42 0.40 0.46
KLA Corp. 2.08 4.83 1.05 1.34 1.29
Lam Research Corp. 0.64 0.83 0.86 1.16 0.96
Micron Technology Inc. 0.32 0.15 0.17 0.19 0.16
NVIDIA Corp. 0.54 0.44 0.46 0.22 0.21
Qualcomm Inc. 0.74 0.90 1.64 2.67 3.25
Texas Instruments Inc. 0.70 0.63 0.62 0.77
Debt to Equity (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.48 0.45 0.52 0.64
Debt to Equity (including Operating Lease Liability), Industry
Information Technology 0.72 0.77 0.90 1.04

Based on: 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).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 7,868 ÷ 2,049,939 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Monolithic Power Systems Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Debt to Capital

Monolithic Power Systems Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Stockholders’ equity 2,049,939 1,668,602 1,243,985 966,587 773,491
Total capital 2,049,939 1,668,602 1,243,985 966,587 773,491
Solvency Ratio
Debt to capital1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital, Competitors2
Advanced Micro Devices Inc. 0.04 0.04 0.04 0.05
Analog Devices Inc. 0.16 0.15 0.15 0.30 0.32
Applied Materials Inc. 0.26 0.31 0.31 0.34 0.39
Broadcom Inc. 0.62 0.64 0.61 0.63 0.57
Intel Corp. 0.32 0.29 0.29 0.31
KLA Corp. 0.67 0.83 0.50 0.57 0.56
Lam Research Corp. 0.38 0.44 0.45 0.53 0.49
Micron Technology Inc. 0.23 0.12 0.13 0.15 0.14
NVIDIA Corp. 0.33 0.29 0.29 0.14 0.18
Qualcomm Inc. 0.42 0.46 0.61 0.72 0.76
Texas Instruments Inc. 0.40 0.37 0.37 0.43
Debt to Capital, Sector
Semiconductors & Semiconductor Equipment 0.32 0.30 0.33 0.38
Debt to Capital, Industry
Information Technology 0.40 0.41 0.45 0.49

Based on: 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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 2,049,939 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.

Debt to Capital (including Operating Lease Liability)

Monolithic Power Systems Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Operating lease liabilities (included in Other accrued liabilities) 2,303 2,133 2,539 1,406 1,254
Long-term operating lease liabilities 5,565 1,664 3,268 1,693 1,103
Total debt (including operating lease liability) 7,868 3,797 5,807 3,099 2,357
Stockholders’ equity 2,049,939 1,668,602 1,243,985 966,587 773,491
Total capital (including operating lease liability) 2,057,807 1,672,399 1,249,792 969,686 775,848
Solvency Ratio
Debt to capital (including operating lease liability)1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.05 0.05 0.09 0.09
Analog Devices Inc. 0.17 0.16 0.16 0.31 0.32
Applied Materials Inc. 0.27 0.32 0.32 0.35 0.39
Broadcom Inc. 0.62 0.64 0.62 0.64 0.57
Intel Corp. 0.32 0.30 0.29 0.31
KLA Corp. 0.67 0.83 0.51 0.57 0.56
Lam Research Corp. 0.39 0.45 0.46 0.54 0.49
Micron Technology Inc. 0.24 0.13 0.14 0.16 0.14
NVIDIA Corp. 0.35 0.31 0.31 0.18 0.18
Qualcomm Inc. 0.43 0.47 0.62 0.73 0.76
Texas Instruments Inc. 0.41 0.39 0.38 0.44
Debt to Capital (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.32 0.31 0.34 0.39
Debt to Capital (including Operating Lease Liability), Industry
Information Technology 0.42 0.43 0.47 0.51

Based on: 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).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 7,868 ÷ 2,057,807 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Monolithic Power Systems Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Debt to Assets

Monolithic Power Systems Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Total assets 2,434,353 2,058,885 1,585,825 1,208,491 956,375
Solvency Ratio
Debt to assets1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets, Competitors2
Advanced Micro Devices Inc. 0.04 0.04 0.03 0.04
Analog Devices Inc. 0.14 0.13 0.13 0.24 0.26
Applied Materials Inc. 0.18 0.20 0.21 0.24 0.28
Broadcom Inc. 0.54 0.54 0.53 0.54 0.49
Intel Corp. 0.26 0.23 0.23 0.24
KLA Corp. 0.42 0.53 0.34 0.37 0.38
Lam Research Corp. 0.27 0.29 0.31 0.40 0.37
Micron Technology Inc. 0.21 0.10 0.12 0.12 0.12
NVIDIA Corp. 0.27 0.25 0.24 0.11 0.15
Qualcomm Inc. 0.30 0.32 0.38 0.44 0.48
Texas Instruments Inc. 0.35 0.32 0.31 0.35
Debt to Assets, Sector
Semiconductors & Semiconductor Equipment 0.26 0.24 0.26 0.30
Debt to Assets, Industry
Information Technology 0.26 0.26 0.29 0.31

Based on: 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).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 2,434,353 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets.

Debt to Assets (including Operating Lease Liability)

Monolithic Power Systems Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total debt
Operating lease liabilities (included in Other accrued liabilities) 2,303 2,133 2,539 1,406 1,254
Long-term operating lease liabilities 5,565 1,664 3,268 1,693 1,103
Total debt (including operating lease liability) 7,868 3,797 5,807 3,099 2,357
 
Total assets 2,434,353 2,058,885 1,585,825 1,208,491 956,375
Solvency Ratio
Debt to assets (including operating lease liability)1 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.05 0.04 0.06 0.06
Analog Devices Inc. 0.15 0.14 0.14 0.25 0.26
Applied Materials Inc. 0.20 0.22 0.22 0.26 0.28
Broadcom Inc. 0.54 0.55 0.53 0.55 0.49
Intel Corp. 0.26 0.23 0.23 0.24
KLA Corp. 0.43 0.54 0.35 0.38 0.38
Lam Research Corp. 0.28 0.30 0.33 0.41 0.37
Micron Technology Inc. 0.22 0.11 0.12 0.13 0.12
NVIDIA Corp. 0.29 0.27 0.27 0.15 0.15
Qualcomm Inc. 0.31 0.33 0.40 0.46 0.48
Texas Instruments Inc. 0.36 0.34 0.33 0.37
Debt to Assets (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.27 0.25 0.27 0.31
Debt to Assets (including Operating Lease Liability), Industry
Information Technology 0.28 0.29 0.31 0.33

Based on: 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).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 7,868 ÷ 2,434,353 = 0.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Monolithic Power Systems Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Financial Leverage

Monolithic Power Systems Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Total assets 2,434,353 2,058,885 1,585,825 1,208,491 956,375
Stockholders’ equity 2,049,939 1,668,602 1,243,985 966,587 773,491
Solvency Ratio
Financial leverage1 1.19 1.23 1.27 1.25 1.24
Benchmarks
Financial Leverage, Competitors2
Advanced Micro Devices Inc. 1.21 1.23 1.66 1.54
Analog Devices Inc. 1.37 1.38 1.38 1.79 1.83
Applied Materials Inc. 1.88 2.19 2.11 2.11 2.32
Broadcom Inc. 3.04 3.23 3.03 3.18 2.71
Intel Corp. 1.81 1.80 1.77 1.89
KLA Corp. 4.82 8.99 3.04 3.48 3.39
Lam Research Corp. 2.29 2.74 2.64 2.81 2.57
Micron Technology Inc. 1.46 1.33 1.34 1.38 1.36
NVIDIA Corp. 1.86 1.66 1.70 1.42 1.42
Qualcomm Inc. 2.37 2.72 4.14 5.86 6.71
Texas Instruments Inc. 1.91 1.87 1.85 2.11
Financial Leverage, Sector
Semiconductors & Semiconductor Equipment 1.79 1.79 1.89 2.07
Financial Leverage, Industry
Information Technology 2.55 2.68 2.89 3.12

Based on: 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).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 2,434,353 ÷ 2,049,939 = 1.19

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Monolithic Power Systems Inc. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

Interest Coverage

Monolithic Power Systems Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 427,374 437,672 242,023 164,375 108,839
Add: Income tax expense 78,467 87,265 30,196 4,967 4,281
Add: Interest expense
Earnings before interest and tax (EBIT) 505,841 524,937 272,219 169,342 113,120
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Advanced Micro Devices Inc. 5.79 14.61 109.09 28.23
Analog Devices Inc. 14.63 16.46 8.19 7.79 7.49
Applied Materials Inc. 33.42 34.33 29.69 18.36 14.79
Broadcom Inc. 10.31 8.16 4.59 2.37 2.54
Intel Corp. 1.87 16.66 37.35 40.87
KLA Corp. 13.76 22.76 16.00 9.22 11.40
Lam Research Corp. 28.40 29.11 21.95 15.51 21.86
Micron Technology Inc. -13.58 51.66 35.18 16.41 56.09
NVIDIA Corp. 16.96 43.12 24.96 58.12 68.17
Qualcomm Inc. 11.72 31.61 19.38 10.50 12.93
Texas Instruments Inc. 22.01 47.88 49.47 32.67
Interest Coverage, Sector
Semiconductors & Semiconductor Equipment 10.54 21.33 18.47 14.15
Interest Coverage, Industry
Information Technology 17.89 22.78 20.06 14.26

Based on: 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).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 505,841 ÷ 0 =

2 Click competitor name to see calculations.


Fixed Charge Coverage

Monolithic Power Systems Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 427,374 437,672 242,023 164,375 108,839
Add: Income tax expense 78,467 87,265 30,196 4,967 4,281
Add: Interest expense
Earnings before interest and tax (EBIT) 505,841 524,937 272,219 169,342 113,120
Add: Operating lease costs 3,113 2,704 2,454 1,488 1,509
Earnings before fixed charges and tax 508,954 527,641 274,673 170,830 114,629
 
Interest expense
Operating lease costs 3,113 2,704 2,454 1,488 1,509
Fixed charges 3,113 2,704 2,454 1,488 1,509
Solvency Ratio
Fixed charge coverage1 163.49 195.13 111.93 114.81 75.96
Benchmarks
Fixed Charge Coverage, Competitors2
Advanced Micro Devices Inc. 3.18 6.82 36.00 13.08
Analog Devices Inc. 11.89 12.87 6.64 6.48 5.62
Applied Materials Inc. 23.69 24.67 22.50 14.48 12.35
Broadcom Inc. 9.81 6.55 3.70 1.92 2.27
Intel Corp. 1.59 7.34 16.56 25.00
KLA Corp. 12.19 18.72 13.03 7.74 10.39
Lam Research Corp. 20.49 21.44 17.80 12.52 17.83
Micron Technology Inc. -9.77 31.49 22.49 11.10 32.90
NVIDIA Corp. 10.19 25.61 14.40 18.89 29.23
Qualcomm Inc. 9.29 22.52 14.48 8.30 10.68
Texas Instruments Inc. 18.41 36.70 36.25 24.14
Fixed Charge Coverage, Sector
Semiconductors & Semiconductor Equipment 8.41 14.48 12.79 10.46
Fixed Charge Coverage, Industry
Information Technology 11.45 13.53 12.31 9.12

Based on: 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).

1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 508,954 ÷ 3,113 = 163.49

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Monolithic Power Systems Inc. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.